New Mountain Finance Corporation (NMFC) vs Tiptree Financial Inc. (TIPT)

New Mountain Finance Corporation and Tiptree Financial Inc. are both Asset Management companies. New Mountain Finance Corporation and Tiptree Financial Inc. are of similar size ($661.2M and $640.0M). New Mountain Finance Corporation has negative trailing earnings, so its P/E is not meaningful; Tiptree Financial Inc. trades at 1.6×. New Mountain Finance Corporation grew revenue faster over the last twelve months: −63.6% against −100.0%. Tiptree Financial Inc. has the higher net margin (0.00% vs −57.3%) and the lower return on invested capital (−18.2% vs −1.54%). Both pay a dividend; New Mountain Finance Corporation yields more (16.3% vs 1.37%). Across the 17 metrics below, New Mountain Finance Corporation leads on 9 and Tiptree Financial Inc. on 8.

Valuation

Metric NMFC TIPT Asset Management median
P/E n/m 1.60 13.38
P/S 6.64 1,338.53 2.99
P/B 0.65 0.72 0.91
Price to free cash flow 1.05 n/m 7.79
EV/EBITDA — — —
EV/Sales — — —
Earnings yield (7.72%) 62.68% 4.67%
Free cash flow yield 94.81% (16.53%) 4.85%

Profitability

Metric NMFC TIPT Asset Management median
Gross margin 100.00% 100.00% 100.00%
Operating margin 0.00% 0.00% 27.27%
Net margin (57.29%) 0.00% 11.89%
Free cash flow margin 629.18% 0.00% 5.96%
Return on equity (5.01%) 50.20% 4.57%
Return on assets (2.10%) 11.21% 1.40%
Return on invested capital (1.54%) (18.22%) 2.12%

Growth

Metric NMFC TIPT Asset Management median
Revenue growth (TTM) (63.56%) (99.98%) 7.26%
EPS growth (last fiscal year) (84.47%) (43.28%) (5.64%)
Revenue growth, 5-year CAGR (1.03%) (77.30%) 11.84%
Net income growth, 5-year CAGR (22.37%) 0.00% 0.00%

Health

Metric NMFC TIPT Asset Management median
Debt to equity 1.29 0.00 0.40
Current ratio 9.89 0.00 1.23
Net debt to EBITDA 0.00 (0.43) 1.06

Dividend

Metric NMFC TIPT Asset Management median
Dividend yield 16.29% 1.37% 6.43%
Payout ratio — 0.02 0.91

Size

Metric NMFC TIPT Asset Management median
Market cap 661.16m 639.99m 692.54m

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