Neostellar Capital Corp. (NSLR) vs WhiteHorse Finance, Inc. (WHF)

Neostellar Capital Corp. and WhiteHorse Finance, Inc. are both Asset Management companies. WhiteHorse Finance, Inc. is the larger, with a market value of $177.0M against $148.3M — 1.2× the size. Neostellar Capital Corp. trades at the lower P/E: 1.5× against 10.4×. WhiteHorse Finance, Inc. grew revenue faster over the last twelve months: −19.9% against −26.3%. WhiteHorse Finance, Inc. has the higher net margin (26.9% vs 0.00%) and the higher return on invested capital (2.67% vs −7.88%). Both pay a dividend; WhiteHorse Finance, Inc. yields more (12.1% vs 4.47%). Across the 19 metrics below, Neostellar Capital Corp. leads on 10 and WhiteHorse Finance, Inc. on 9.

Valuation

Metric NSLR WHF Asset Management median
P/E 1.47 10.44 13.38
P/S 72.13 2.73 2.99
P/B 0.44 0.70 0.91
Price to free cash flow n/m 2.29 7.79
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 68.16% 9.58% 4.67%
Free cash flow yield (11.63%) 43.74% 4.85%

Profitability

Metric NSLR WHF Asset Management median
Gross margin 100.00% 100.00% 100.00%
Operating margin 0.00% 67.65% 27.27%
Net margin 0.00% 26.88% 11.89%
Free cash flow margin 0.00% 119.28% 5.96%
Return on equity 33.77% 6.65% 4.57%
Return on assets 26.30% 2.75% 1.40%
Return on invested capital (7.88%) 2.67% 2.12%

Growth

Metric NSLR WHF Asset Management median
Revenue growth (TTM) (26.32%) (19.92%) 7.26%
EPS growth (last fiscal year) 211.25% 31.91% (5.64%)
Revenue growth, 5-year CAGR (1.56%) 3.33% 11.84%
Net income growth, 5-year CAGR (8.32%) (14.67%) 0.00%

Health

Metric NSLR WHF Asset Management median
Debt to equity 0.00 1.29 0.40
Current ratio 6.76 1.39 1.23
Net debt to EBITDA (0.48) 6.19 1.06

Dividend

Metric NSLR WHF Asset Management median
Dividend yield 4.47% 12.12% 6.43%
Payout ratio 0.09 1.27 0.91

Size

Metric NSLR WHF Asset Management median
Market cap 148.25m 176.97m 692.54m

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