PennantPark Floating Rate Capital Ltd.

DB:22P Stock Report

Market Cap: €770.3m

PennantPark Floating Rate Capital Valuation

Is 22P undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 22P when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 22P (€10.46) is trading below our estimate of fair value (€20.14)

Significantly Below Fair Value: 22P is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 22P?

Key metric: As 22P is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 22P. This is calculated by dividing 22P's market cap by their current earnings.
What is 22P's PE Ratio?
PE Ratio8.8x
EarningsUS$91.84m
Market CapUS$812.77m

Price to Earnings Ratio vs Peers

How does 22P's PE Ratio compare to its peers?

Insufficient data to calculate this valuation analysis check
The above table shows the PE ratio for 22P vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Averagen/a
22P PennantPark Floating Rate Capital
8.8x1.2%€812.8m

Price-To-Earnings vs Peers: Insufficient data to calculate 22P's Price-To-Earnings Ratio vs. peers for valuation analysis.

Price to Earnings Ratio vs Industry

How does 22P's PE Ratio compare vs other companies in the DE Capital Markets Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
AR4 AURELIUS Equity Opportunities SE KGaA
3.9xn/aUS$416.78m
HXCK Ernst Russ
3.6x-18.2%US$201.25m
VG8 Varengold Bank
2xn/aUS$25.65m
XE8 Black Sea Property
0.7xn/aUS$7.78m
No more companies available in this PE range
22P 8.8xIndustry Avg. 20.3xNo. of Companies6PE01632486480+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 22P is good value based on its Price-To-Earnings Ratio (8.8x) compared to the German Capital Markets industry average (20.3x).

Price to Earnings Ratio vs Fair Ratio

What is 22P's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

22P PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8.8x
Fair PE Ratio11.3x

Price-To-Earnings vs Fair Ratio: 22P is good value based on its Price-To-Earnings Ratio (8.8x) compared to the estimated Fair Price-To-Earnings Ratio (11.3x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 22P forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€10.46
€11.14
+6.5%
3.2%€11.45€10.50n/a6
Nov ’25€9.94
€10.42
+4.9%
3.2%€10.72€9.83n/a6
Oct ’25€10.22
€10.42
+2.0%
3.2%€10.72€9.83n/a6
Sep ’25€9.93
€10.42
+5.0%
3.2%€10.72€9.83n/a6
Aug ’25€10.18
€10.81
+6.2%
3.4%€11.09€10.16n/a5
Jul ’25€10.80
€10.77
-0.3%
5.0%€11.60€10.21n/a5
Jun ’25€10.26
€10.77
+4.9%
5.0%€11.60€10.21n/a5
May ’25€10.59
€10.89
+2.8%
5.0%€11.73€10.33n/a5
Apr ’25€10.35
€10.75
+3.9%
5.0%€11.59€10.20n/a5
Mar ’25€10.50
€10.75
+2.4%
5.0%€11.59€10.20n/a5
Feb ’25€10.28
€10.67
+3.8%
5.0%€11.50€10.12n/a5
Jan ’25€10.93
€10.54
-3.5%
3.9%€11.00€10.08n/a5
Dec ’24€10.12
€10.54
+4.2%
3.9%€11.00€10.08n/a5
Nov ’24€9.20
€10.47
+13.9%
3.9%€10.93€10.02€9.945
Oct ’24€10.00
€10.47
+4.8%
3.9%€10.93€10.02€10.225
Sep ’24€9.86
€10.47
+6.2%
3.9%€10.93€10.02€9.935
Aug ’24€10.13
€10.24
+1.1%
3.9%€10.69€9.80€10.185
Jul ’24€9.65
€10.58
+9.6%
4.3%€11.13€10.20€10.805
Jun ’24€9.61
€10.60
+10.3%
4.3%€11.06€10.14€10.264
May ’24€9.97
€10.77
+8.1%
4.3%€11.24€10.30€10.594
Apr ’24€9.63
€10.77
+11.9%
4.3%€11.24€10.30€10.354
Mar ’24€9.97
€10.77
+8.1%
4.3%€11.24€10.30€10.504
Feb ’24€9.81
€11.90
+21.3%
6.6%€12.50€10.58€10.284
Jan ’24€10.17
€11.90
+17.0%
6.6%€12.50€10.58€10.934
Dec ’23€10.94
€11.90
+8.8%
6.6%€12.50€10.58€10.124
Nov ’23€11.37
€13.17
+15.8%
7.2%€14.18€11.65€9.204

Analyst Forecast: Target price is less than 20% higher than the current share price.

Discover undervalued companies

Yeahka

HK$4.3b

An investment holding company, provides payment and business services to merchants and consumers in the People’s Republic of China.

4YE

HK$1.21

7D

-5.5%

1Y

-23.4%

Exor

€20.1b

Engages in the luxury goods, automotive, agricultural and construction equipment, commercial vehicles, and professional football businesses worldwide.

EYX

€93.65

7D

-0.8%

1Y

7.7%

Merchants Bancorp

US$1.9b

Operates as the diversified bank holding company in the United States.

3KD

US$38.80

7D

7.8%

1Y

26.8%