Narrow-moat Partners Group's results for the first half of 2024 confirmed that the firm is on track to meet our expectations for fiscal 2024. Partners also reaffirmed their longer-term guidance. The market expected more, with the shares closing 9% down on the day of the results.
As a pioneer and market leader in providing individual investors access to private markets, Partners Group is well placed to benefit from the market opening up to individual investors.
Higher interest rates have ended the golden age of private equity. Future fund returns will be lower, leading to lower carried interest and disappointed clients demanding lower future management fees.
|
Metric
|
PGHN
|
CVC
|
EQT
|
|---|---|---|---|
Price/Earnings (Normalized) | 31.89 | 45.19 | 34.09 |
Price/Book Value | 15.93 | 33.84 | 4.82 |
Price/Sales | 18.98 | 13.39 | 15.53 |
Price/Cash Flow | 30.87 | — | 61.50 |
|
Metric
|
PGHN
|
CVC
|
EQT
|
|---|---|---|---|
Quick Ratio | 2.68 | 1.31 | 5.97 |
Current Ratio | 3.16 | 1.31 | 6.24 |
Interest Coverage | 60.41 | 9.16 | — |
|
Metric
|
PGHN
|
CVC
|
EQT
|
|---|---|---|---|
Return on Assets (Normalized) | 20.29% | 13.78% | 10.97% |
Return on Equity (Normalized) | 42.83% | 88.43% | 16.47% |
Return on Invested Capital (Normalized) | 25.30% | 19.15% | 12.29% |
|
1-Day Chart
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Morningstar Rating for Stocks
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United States