PennantPark Floating Rate Capital Ltd. (PFLT) vs Vinci Compass Investments Ltd. (VINP)

PennantPark Floating Rate Capital Ltd. and Vinci Compass Investments Ltd. are both Asset Management companies. PennantPark Floating Rate Capital Ltd. and Vinci Compass Investments Ltd. are of similar size ($717.4M and $660.1M). PennantPark Floating Rate Capital Ltd. trades at the lower P/E: 12.8× against 15.2×. Vinci Compass Investments Ltd. grew revenue faster over the last twelve months: 36.2% against 9.33%. Vinci Compass Investments Ltd. has the higher net margin (23.2% vs 18.5%) and the higher return on invested capital (8.68% vs 3.51%). Both pay a dividend; PennantPark Floating Rate Capital Ltd. yields more (15.9% vs 6.04%). Across the 19 metrics below, Vinci Compass Investments Ltd. leads on 11 and PennantPark Floating Rate Capital Ltd. on 8.

Valuation

Metric PFLT VINP Asset Management median
P/E 12.76 15.18 13.99
P/S 2.38 3.58 2.76
P/B 0.63 1.68 0.85
Price to free cash flow n/m 17.94 8.32
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 7.83% 6.59% 4.72%
Free cash flow yield (9.04%) 5.58% 4.44%

Profitability

Metric PFLT VINP Asset Management median
Gross margin 100.00% 100.00% 100.00%
Operating margin 76.57% 28.14% 33.42%
Net margin 18.53% 23.21% 13.37%
Free cash flow margin (21.54%) 19.95% 12.36%
Return on equity 4.77% 12.24% 4.79%
Return on assets 1.95% 6.57% 1.55%
Return on invested capital 3.51% 8.68% 2.97%

Growth

Metric PFLT VINP Asset Management median
Revenue growth (TTM) 9.33% 36.21% 7.42%
EPS growth (last fiscal year) (48.57%) 46.15% (6.67%)
Revenue growth, 5-year CAGR 22.32% 21.56% 12.51%
Net income growth, 5-year CAGR 29.23% 3.37% 0.00%

Health

Metric PFLT VINP Asset Management median
Debt to equity 0.94 0.45 0.44
Current ratio 0.19 3.58 1.30
Net debt to EBITDA 3.46 (2.33) 1.02

Dividend

Metric PFLT VINP Asset Management median
Dividend yield 15.94% 6.04% 6.60%
Payout ratio 2.03 0.94 0.94

Size

Metric PFLT VINP Asset Management median
Market cap 660.13m 717.41m 694.86m

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