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Metrics | Range | Conclusion |
---|---|---|
Selected LTM Pb Multiple | 1.0x - 1.1x | 1.0x |
Historical Pb Multiple | 0.8x - 1.4x | 1.0x |
Fair Value | €21.53 - €23.79 | €22.66 |
Upside | 21.1% - 33.9% | 27.5% |
Benchmarks | - | Full Ticker |
GCM Grosvenor Inc. | - | NasdaqGM:GCMG |
GAMCO Investors, Inc. | - | OTCPK:GAMI |
Affiliated Managers Group, Inc. | - | NYSE:AMG |
SEI Investments Company | - | NasdaqGS:SEIC |
Cohen & Steers, Inc. | - | NYSE:CNS |
Franklin Resources, Inc. | - | DB:FRK |
Select Price / Book Ratio | ||||||||
Benchmark Companies | ||||||||
GCMG | GAMI | AMG | SEIC | CNS | FRK | |||
NasdaqGM:GCMG | OTCPK:GAMI | NYSE:AMG | NasdaqGS:SEIC | NYSE:CNS | DB:FRK | |||
Historical Net Income Growth | ||||||||
5Y CAGR | NM- | -5.1% | 100.7% | 3.0% | 2.4% | -18.3% | ||
3Y CAGR | -4.5% | -4.9% | -3.3% | 2.1% | -10.6% | -37.3% | ||
Latest Twelve Months | 46.4% | 4.5% | -24.0% | 25.7% | 17.2% | -63.5% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | 5.1% | 24.9% | 38.9% | 26.3% | 28.7% | 15.8% | ||
Prior Fiscal Year | 2.9% | 25.5% | 32.7% | 24.1% | 26.4% | 10.8% | ||
Latest Fiscal Year | 3.7% | 27.2% | 25.1% | 27.3% | 29.2% | 5.1% | ||
Latest Twelve Months | 3.7% | 27.2% | 25.1% | 27.3% | 29.2% | 3.9% | ||
Return on Equity | ||||||||
5 Year Average Margin | NA | 70.1% | 19.8% | 26.1% | 53.4% | 9.5% | ||
Prior Fiscal Year | NM | 37.6% | 19.7% | 22.6% | 35.9% | 7.2% | ||
Latest Twelve Months | NM | 39.5% | 14.8% | 26.5% | 33.9% | 2.8% | ||
Next Fiscal Year | 446.1% | 55.3% | 21.1% | 27.6% | 35.4% | 8.7% | ||
Two Fiscal Years Forward | 104.3% | 86.7% | 23.6% | 29.1% | 34.4% | 9.5% | ||
Current Trading Multiples | ||||||||
Price / LTM Sales | 4.9x | 2.2x | 2.5x | 4.6x | 8.0x | 1.2x | ||
Price / LTM EPS | 32.0x | 8.2x | 9.9x | 16.9x | 27.3x | 29.9x | ||
Price / Book | -91.1x | 3.8x | 1.5x | 4.4x | 8.1x | 0.8x | ||
Price / Fwd Book | 6.0x | 5.4x | 1.5x | 4.4x | 7.3x | 0.8x | ||
Low | Mid | High | ||||||
Benchmark P/B Ratio | -91.1x | 3.8x | 8.1x | |||||
Historical P/B Ratio | 0.8x | 1.0x | 1.4x | |||||
Selected P/B Multiple | 1.0x | 1.0x | 1.1x | |||||
(x) Book Value | 12,462 | 12,462 | 12,462 |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | GCMG | GAMI | AMG | SEIC | CNS | FRK | |
Value of Common Equity | 598 | 517 | 4,957 | 9,811 | 4,113 | 10,130 | |
(/) Shares Outstanding | 44.9 | 22.4 | 29.3 | 127.0 | 51.0 | 525.3 | |
Implied Stock Price | 13.31 | 23.04 | 169.43 | 77.28 | 80.69 | 19.29 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.08 | |
Implied Stock Price (Trading Cur) | 13.31 | 23.04 | 169.43 | 77.28 | 80.69 | 17.78 | |
Trading Currency | USD | USD | USD | USD | USD | EUR | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.08 |