Pershing Square Inc. (PS) vs Raymond James Financial, Inc. (RJF)

Pershing Square Inc. and Raymond James Financial, Inc. are both Asset Management companies. Raymond James Financial, Inc. is the larger, with a market value of $31.7B against $20.1B — 1.6× the size. Raymond James Financial, Inc. has the higher net margin (13.5% vs −67.6%) and the higher return on invested capital (0.00% vs −2.43%). Across the 10 metrics below, Raymond James Financial, Inc. leads on 9 and Pershing Square Inc. on 1.

Valuation

Metric PS RJF Asset Management median
P/E — 13.61 13.38
P/S 91.98 1.81 2.99
P/B 14.18 2.48 0.91
Price to free cash flow n/m 22.00 7.79
EV/EBITDA n/m — —
EV/Sales 81.89 — —
Earnings yield — 7.35% 4.67%
Free cash flow yield (0.40%) 4.55% 4.85%

Profitability

Metric PS RJF Asset Management median
Gross margin 100.00% 100.00% 100.00%
Operating margin (25.11%) 27.32% 27.27%
Net margin (67.64%) 13.48% 11.89%
Free cash flow margin (36.88%) 0.00% 5.96%
Return on equity 0.00% 0.00% 4.57%
Return on assets (16.21%) 0.00% 1.40%
Return on invested capital (2.43%) 0.00% 2.12%

Growth

Metric PS RJF Asset Management median
Revenue growth (TTM) — 10.22% 7.26%
EPS growth (last fiscal year) — 15.94% (5.64%)
Revenue growth, 5-year CAGR — 12.09% 11.84%
Net income growth, 5-year CAGR — 11.01% 0.00%

Health

Metric PS RJF Asset Management median
Debt to equity 0.00 0.43 0.40
Current ratio 0.04 1.06 1.23
Net debt to EBITDA — 0.00 1.06

Dividend

Metric PS RJF Asset Management median
Dividend yield — 1.31% 6.43%
Payout ratio — 0.18 0.91

Size

Metric PS RJF Asset Management median
Market cap 20.14b 31.65b 692.54m

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