Northern Trust Corporation (NTRS) vs TPG Inc. (TPG)

Northern Trust Corporation and TPG Inc. are both Asset Management companies. Northern Trust Corporation is the larger, with a market value of $31.9B against $16.8B — 1.9× the size. Northern Trust Corporation trades at the lower P/E: 15.0× against 37.6×. TPG Inc. grew revenue faster over the last twelve months: 30.1% against 3.12%. Northern Trust Corporation has the higher net margin (14.4% vs 4.67%) and the lower return on invested capital (0.00% vs 7.97%). Both pay a dividend; Northern Trust Corporation yields more (3.93% vs 2.87%). Across the 21 metrics below, Northern Trust Corporation leads on 11 and TPG Inc. on 10.

Valuation

Metric NTRS TPG Asset Management median
P/E 15.01 37.62 14.62
P/S 2.13 1.45 2.97
P/B 2.58 1.95 0.94
Price to free cash flow n/m 7.97 8.93
EV/EBITDA n/m 9.14 10.32
EV/Sales (1.36) 1.72 5.72
Earnings yield 6.66% 2.66% 4.53%
Free cash flow yield (0.67%) 12.55% 4.65%

Profitability

Metric NTRS TPG Asset Management median
Gross margin 59.61% 100.00% 100.00%
Operating margin 0.00% 15.54% 33.03%
Net margin 14.36% 4.67% 13.53%
Free cash flow margin (1.44%) 18.15% 12.44%
Return on equity 17.81% 6.47% 4.83%
Return on assets 1.24% 1.82% 1.57%
Return on invested capital 0.00% 7.97% 3.04%

Growth

Metric NTRS TPG Asset Management median
Revenue growth (TTM) 3.12% 30.07% 6.97%
EPS growth (last fiscal year) (10.54%) 207.14% —
Revenue growth, 5-year CAGR 17.81% 17.17% 12.13%
Net income growth, 5-year CAGR 8.03% (33.68%) 0.00%

Health

Metric NTRS TPG Asset Management median
Debt to equity 0.40 0.63 0.42
Current ratio 0.65 0.31 1.28
Net debt to EBITDA 0.00 1.06 1.06

Dividend

Metric NTRS TPG Asset Management median
Dividend yield 3.93% 2.87% 6.92%
Payout ratio 0.54 19.29 0.77

Size

Metric NTRS TPG Asset Management median
Market cap 31.93b 16.78b 721.34m

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