Noah Holdings Ltd. (NOAH) vs Vinci Compass Investments Ltd. (VINP)

Noah Holdings Ltd. and Vinci Compass Investments Ltd. are both Asset Management companies. Vinci Compass Investments Ltd. is the larger, with a market value of $608.0M against $538.3M — 1.1× the size. Noah Holdings Ltd. trades at the lower P/E: 6.3× against 13.0×. Vinci Compass Investments Ltd. grew revenue faster over the last twelve months: 36.2% against 8.07%. Vinci Compass Investments Ltd. has the higher net margin (23.2% vs 22.7%) and the lower return on invested capital (8.68% vs 12.3%). Both pay a dividend; Vinci Compass Investments Ltd. yields more (7.43% vs 5.11%). Across the 21 metrics below, Noah Holdings Ltd. leads on 13 and Vinci Compass Investments Ltd. on 8.

Valuation

Metric NOAH VINP Asset Management median
P/E 6.34 12.99 14.62
P/S 1.41 3.06 2.97
P/B 0.38 1.44 0.94
Price to free cash flow 2.45 15.34 8.93
EV/EBITDA n/m 8.65 10.32
EV/Sales (0.06) 2.96 5.72
Earnings yield 15.76% 7.70% 4.53%
Free cash flow yield 40.83% 6.52% 4.65%

Profitability

Metric NOAH VINP Asset Management median
Gross margin 100.00% 100.00% 100.00%
Operating margin 33.71% 28.14% 33.03%
Net margin 22.67% 23.21% 13.53%
Free cash flow margin 57.74% 19.95% 12.44%
Return on equity 0.00% 12.24% 4.83%
Return on assets 5.17% 6.57% 1.57%
Return on invested capital 12.31% 8.68% 3.04%

Growth

Metric NOAH VINP Asset Management median
Revenue growth (TTM) 8.07% 36.21% 6.97%
EPS growth (last fiscal year) 23.91% 46.15% —
Revenue growth, 5-year CAGR (5.93%) 21.56% 12.13%
Net income growth, 5-year CAGR 0.00% 3.37% 0.00%

Health

Metric NOAH VINP Asset Management median
Debt to equity 0.00 0.45 0.42
Current ratio 3.61 3.58 1.28
Net debt to EBITDA (5.39) (2.33) 1.06

Dividend

Metric NOAH VINP Asset Management median
Dividend yield 5.11% 7.43% 6.92%
Payout ratio 0.21 0.82 0.77

Size

Metric NOAH VINP Asset Management median
Market cap 538.32m 607.99m 721.34m

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