FCRD Stock Overview
THL Credit, Inc. is a business development company specializing in direct and fund of fund investments.
First Eagle Alternative Capital BDC Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||US$4.50|
|52 Week High||US$4.89|
|52 Week Low||US$3.25|
|1 Month Change||0.45%|
|3 Month Change||-2.39%|
|1 Year Change||21.95%|
|3 Year Change||-31.51%|
|5 Year Change||-56.52%|
|Change since IPO||-64.71%|
Recent News & Updates
First Eagle Alternative Capital BDC, Inc. 2021 Q1 - Results - Earnings Call Presentation
The following slide deck was published by First Eagle Alternative Capital BDC, Inc. in conjunction with their 2021 Q1 earnings call.
First Eagle Alternative Capital BDC, Inc. 2020 Q3 - Results - Earnings Call Presentation
The following slide deck was published by First Eagle Alternative Capital BDC, Inc. in conjunction with their 2020 Q3 earnings call.
|FCRD||US Capital Markets||US Market|
Return vs Industry: FCRD underperformed the US Capital Markets industry which returned 30.2% over the past year.
Return vs Market: FCRD exceeded the US Market which returned 13.7% over the past year.
|FCRD Average Weekly Movement||2.5%|
|Capital Markets Industry Average Movement||0.7%|
|Market Average Movement||6.6%|
|10% most volatile stocks in US Market||15.9%|
|10% least volatile stocks in US Market||2.4%|
Stable Share Price: FCRD is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: FCRD's weekly volatility (3%) has been stable over the past year.
About the Company
THL Credit, Inc. is a business development company specializing in direct and fund of fund investments. The fund seeks to invest in debt and equity securities of middle market companies. It seeks to invest in PIPES, growth, acquisition, market or product expansion, recapitalization, mature, and change of control transactions in both sponsored and unsponsored issuers.
First Eagle Alternative Capital BDC Fundamentals Summary
|FCRD fundamental statistics|
Is FCRD overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|FCRD income statement (TTM)|
|Cost of Revenue||US$0|
Last Reported Earnings
Sep 30, 2021
Next Earnings Date
|Earnings per share (EPS)||0.66|
|Net Profit Margin||64.13%|
How did FCRD perform over the long term?See historical performance and comparison
8.9%Current Dividend Yield
Is First Eagle Alternative Capital BDC undervalued compared to its fair value and its price relative to the market?
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: Insufficient data to calculate FCRD's fair value to establish if it is undervalued.
Significantly Below Fair Value: Insufficient data to calculate FCRD's fair value to establish if it is undervalued.
Price To Earnings Ratio
PE vs Industry: FCRD is good value based on its PE Ratio (6.8x) compared to the US Capital Markets industry average (15.9x).
PE vs Market: FCRD is good value based on its PE Ratio (6.8x) compared to the US market (17.4x).
Price to Earnings Growth Ratio
PEG Ratio: FCRD's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: FCRD is good value based on its PB Ratio (0.7x) compared to the US Capital Markets industry average (42.4x).
How is First Eagle Alternative Capital BDC forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: FCRD's earnings are forecast to decline over the next 3 years (-30.2% per year).
Earnings vs Market: FCRD's earnings are forecast to decline over the next 3 years (-30.2% per year).
High Growth Earnings: FCRD's earnings are forecast to decline over the next 3 years.
Revenue vs Market: FCRD's revenue (8.1% per year) is forecast to grow slower than the US market (9.3% per year).
High Growth Revenue: FCRD's revenue (8.1% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: FCRD's Return on Equity is forecast to be low in 3 years time (6.8%).
How has First Eagle Alternative Capital BDC performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: FCRD has a large one-off gain of $7.3M impacting its September 30 2021 financial results.
Growing Profit Margin: FCRD became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: FCRD has become profitable over the past 5 years, growing earnings by -23% per year.
Accelerating Growth: FCRD has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: FCRD has become profitable in the last year, making it difficult to compare its past year earnings growth to the Capital Markets industry (86.4%).
Return on Equity
High ROE: FCRD's Return on Equity (10.1%) is considered low.
How is First Eagle Alternative Capital BDC's financial position?
Financial Position Analysis
Short Term Liabilities: FCRD's short term assets ($15.7M) exceed its short term liabilities ($5.8M).
Long Term Liabilities: FCRD's short term assets ($15.7M) do not cover its long term liabilities ($220.0M).
Debt to Equity History and Analysis
Debt Level: FCRD's net debt to equity ratio (106.5%) is considered high.
Reducing Debt: FCRD's debt to equity ratio has increased from 72.4% to 111.4% over the past 5 years.
Debt Coverage: FCRD's operating cash flow is negative, therefore debt is not well covered.
Interest Coverage: FCRD's interest payments on its debt are not well covered by EBIT (2.1x coverage).
What is First Eagle Alternative Capital BDC current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: FCRD's dividend (8.89%) is higher than the bottom 25% of dividend payers in the US market (1.32%).
High Dividend: FCRD's dividend (8.89%) is in the top 25% of dividend payers in the US market (3.44%)
Stability and Growth of Payments
Stable Dividend: FCRD's dividend payments have been volatile in the past 10 years.
Growing Dividend: FCRD's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (60.8%), FCRD's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: FCRD's dividends in 3 years are forecast to be covered by earnings (89.6% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Chris Flynn (48 yo)
Mr. Christopher John Flynn, also known as Chris, serves as the President at First Eagle Private Credit, LLC. He also serves as Chief Executive Officer at First Eagle Alternative Capital BDC, Inc. (formerly...
Experienced Management: FCRD's management team is considered experienced (4.9 years average tenure).
Experienced Board: FCRD's board of directors are considered experienced (6.7 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: FCRD insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
First Eagle Alternative Capital BDC, Inc.'s employee growth, exchange listings and data sources
- Name: First Eagle Alternative Capital BDC, Inc.
- Ticker: FCRD
- Exchange: NasdaqGS
- Founded: 2009
- Industry: Asset Management and Custody Banks
- Sector: Diversified Financials
- Implied Market Cap: US$135.492m
- Shares outstanding: 30.11m
- Website: https://investor.feacbdc.com
- First Eagle Alternative Capital BDC, Inc.
- 500 Boylston Street
- Suite 1200
- United States
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2022/01/16 23:10|
|End of Day Share Price||2022/01/14 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.