Noah Holdings Ltd. (NOAH) vs SLR Investment Corp. (SLRC)

Noah Holdings Ltd. and SLR Investment Corp. are both Asset Management companies. SLR Investment Corp. is the larger, with a market value of $637.2M against $538.3M — 1.2× the size. Noah Holdings Ltd. trades at the lower P/E: 6.3× against 8.7×. Noah Holdings Ltd. grew revenue faster over the last twelve months: 8.07% against −5.79%. SLR Investment Corp. has the higher net margin (35.2% vs 22.7%) and the lower return on invested capital (2.87% vs 12.3%). Both pay a dividend; SLR Investment Corp. yields more (10.1% vs 5.11%). Across the 21 metrics below, Noah Holdings Ltd. leads on 14 and SLR Investment Corp. on 7.

Valuation

Metric NOAH SLRC Asset Management median
P/E 6.34 8.70 14.62
P/S 1.41 3.06 2.97
P/B 0.38 0.65 0.94
Price to free cash flow 2.45 4.09 8.93
EV/EBITDA n/m 9.31 10.32
EV/Sales (0.06) 6.55 5.72
Earnings yield 15.76% 11.50% 4.53%
Free cash flow yield 40.83% 24.44% 4.65%

Profitability

Metric NOAH SLRC Asset Management median
Gross margin 100.00% 100.00% 100.00%
Operating margin 33.71% 70.27% 33.03%
Net margin 22.67% 35.20% 13.53%
Free cash flow margin 57.74% 74.68% 12.44%
Return on equity 0.00% 7.47% 4.83%
Return on assets 5.17% 2.89% 1.57%
Return on invested capital 12.31% 2.87% 3.04%

Growth

Metric NOAH SLRC Asset Management median
Revenue growth (TTM) 8.07% (5.79%) 6.97%
EPS growth (last fiscal year) 23.91% (3.41%) —
Revenue growth, 5-year CAGR (5.93%) 12.41% 12.13%
Net income growth, 5-year CAGR 0.00% 43.04% 0.00%

Health

Metric NOAH SLRC Asset Management median
Debt to equity 0.00 1.17 0.42
Current ratio 3.61 1.09 1.28
Net debt to EBITDA (5.39) 5.05 1.06

Dividend

Metric NOAH SLRC Asset Management median
Dividend yield 5.11% 10.13% 6.92%
Payout ratio 0.21 1.48 0.77

Size

Metric NOAH SLRC Asset Management median
Market cap 538.32m 637.20m 721.34m

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