Pershing Square Inc. (PS) vs TPG Inc. (TPG)

Pershing Square Inc. and TPG Inc. are both Asset Management companies. Pershing Square Inc. is the larger, with a market value of $20.1B against $18.0B — 1.1× the size. TPG Inc. has the higher net margin (5.32% vs −67.6%) and the higher return on invested capital (7.44% vs −2.43%). Across the 11 metrics below, TPG Inc. leads on 10 and Pershing Square Inc. on 1.

Valuation

Metric PS TPG Asset Management median
P/E — 19.67 13.38
P/S 91.98 1.59 2.99
P/B 14.18 2.03 0.91
Price to free cash flow n/m 12.58 7.79
EV/EBITDA n/m — —
EV/Sales 81.89 — —
Earnings yield — 5.08% 4.67%
Free cash flow yield (0.40%) 7.95% 4.85%

Profitability

Metric PS TPG Asset Management median
Gross margin 100.00% 100.00% 100.00%
Operating margin (25.11%) 15.47% 27.27%
Net margin (67.64%) 5.32% 11.89%
Free cash flow margin (36.88%) 12.66% 5.96%
Return on equity 0.00% 6.94% 4.57%
Return on assets (16.21%) 1.94% 1.40%
Return on invested capital (2.43%) 7.44% 2.12%

Growth

Metric PS TPG Asset Management median
Revenue growth (TTM) — 18.76% 7.26%
EPS growth (last fiscal year) — 207.14% (5.64%)
Revenue growth, 5-year CAGR — 17.17% 11.84%
Net income growth, 5-year CAGR — (33.68%) 0.00%

Health

Metric PS TPG Asset Management median
Debt to equity 0.00 0.57 0.40
Current ratio 0.04 0.28 1.23
Net debt to EBITDA — 1.06 1.06

Dividend

Metric PS TPG Asset Management median
Dividend yield — 4.76% 6.43%
Payout ratio — 1.96 0.91

Size

Metric PS TPG Asset Management median
Market cap 20.14b 17.99b 692.54m

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