NasdaqGS:PFLT

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PennantPark Floating Rate Capital

Executive Summary

PennantPark Floating Rate Capital Ltd. is a business development company. More Details

Rewards


Snowflake Analysis


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Share Price & News

How has PennantPark Floating Rate Capital's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: PFLT is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: PFLT's weekly volatility has decreased from 10% to 3% over the past year.


Market Performance


7 Day Return

1.6%

PFLT

1.0%

US Capital Markets

-0.7%

US Market


1 Year Return

5.8%

PFLT

38.8%

US Capital Markets

36.6%

US Market

Return vs Industry: PFLT underperformed the US Capital Markets industry which returned 38.8% over the past year.

Return vs Market: PFLT underperformed the US Market which returned 36.6% over the past year.


Shareholder returns

PFLTIndustryMarket
7 Day1.6%1.0%-0.7%
30 Day11.5%10.8%4.3%
90 Day12.1%17.0%8.1%
1 Year20.8%5.8%42.2%38.8%39.6%36.6%
3 Year30.0%-5.0%40.1%29.7%53.5%43.7%
5 Year72.5%6.2%152.2%121.0%123.7%98.8%

Long-Term Price Volatility Vs. Market

How volatile is PennantPark Floating Rate Capital's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is PennantPark Floating Rate Capital undervalued compared to its fair value and its price relative to the market?

13.6x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: PFLT ($12.13) is trading above our estimate of fair value ($2.84)

Significantly Below Fair Value: PFLT is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: PFLT is good value based on its PE Ratio (13.6x) compared to the US Capital Markets industry average (22.8x).

PE vs Market: PFLT is good value based on its PE Ratio (13.6x) compared to the US market (21.4x).


Price to Earnings Growth Ratio

PEG Ratio: PFLT's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: PFLT is good value based on its PB Ratio (1x) compared to the US Capital Markets industry average (15x).

Future Growth

How is PennantPark Floating Rate Capital forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

-16.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PFLT's earnings are forecast to decline over the next 3 years (-16% per year).

Earnings vs Market: PFLT's earnings are forecast to decline over the next 3 years (-16% per year).

High Growth Earnings: PFLT's earnings are forecast to decline over the next 3 years.

Revenue vs Market: PFLT's revenue is expected to decline over the next 3 years (-0.2% per year).

High Growth Revenue: PFLT's revenue is forecast to decline over the next 3 years (-0.2% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if PFLT's Return on Equity is forecast to be high in 3 years time

Past Performance

How has PennantPark Floating Rate Capital performed over the past 5 years?

-10.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PFLT has high quality earnings.

Growing Profit Margin: PFLT's current net profit margins (37.7%) are higher than last year (17.2%).


Past Earnings Growth Analysis

Earnings Trend: PFLT's earnings have declined by 10.3% per year over the past 5 years.

Accelerating Growth: PFLT's earnings growth over the past year (113.1%) exceeds its 5-year average (-10.3% per year).

Earnings vs Industry: PFLT earnings growth over the past year (113.1%) exceeded the Capital Markets industry 10.4%.


Return on Equity

High ROE: PFLT's Return on Equity (7%) is considered low.

Financial Health

How is PennantPark Floating Rate Capital's financial position?


Financial Position Analysis

Short Term Liabilities: PFLT's short term assets ($31.5M) exceed its short term liabilities ($21.6M).

Long Term Liabilities: PFLT's short term assets ($31.5M) do not cover its long term liabilities ($584.9M).


Debt to Equity History and Analysis

Debt Level: PFLT's debt to equity ratio (118.8%) is considered high.

Reducing Debt: PFLT's debt to equity ratio has increased from 26.3% to 118.8% over the past 5 years.

Debt Coverage: PFLT's debt is not well covered by operating cash flow (19.9%).

Interest Coverage: PFLT's interest payments on its debt are not well covered by EBIT (2.7x coverage).


Balance Sheet

Dividend

What is PennantPark Floating Rate Capital current dividend yield, its reliability and sustainability?

9.40%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: PFLT's dividend (9.4%) is higher than the bottom 25% of dividend payers in the US market (1.32%).

High Dividend: PFLT's dividend (9.4%) is in the top 25% of dividend payers in the US market (3.72%)


Stability and Growth of Payments

Stable Dividend: PFLT's dividends per share have been stable in the past 10 years.

Growing Dividend: PFLT's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (127.9%), PFLT's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.

Management

How experienced are the management team and are they aligned to shareholders interests?

10.4yrs

Average management tenure


CEO

Art Penn (57 yo)

11.17yrs

Tenure

Mr. Arthur Howard Penn, also known as Art, has been Chief Executive Officer of MCG Capital Corporation since August 18, 2015. Mr. Penn is the Founder and Managing Member of PennantPark Investment Advisers,...


Leadership Team

NamePositionTenureCompensationOwnership
Arthur Penn
Founder11.17yrsno datano data
Aviv Efrat
CFO & Treasurer10.42yrsno data0.28%
$ 1.3m
Guy Talarico
Chief Compliance Officer10yrsno datano data
Jose Briones
no datano datano data
P. Williams
no datano datano data
Thomas Friedmann
Secretaryno datano datano data
Salvatore Giannetti
no datano datano data

10.4yrs

Average Tenure

57yo

Average Age

Experienced Management: PFLT's management team is seasoned and experienced (10.4 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Arthur Penn
Founder11.17yrsno datano data
Samuel Katz
Independent Director10.42yrsUS$83.75k0.38%
$ 1.8m
Jeffrey Flug
Independent Director10.42yrsUS$83.75k0.041%
$ 192.9k
Adam Bernstein
Independent Director10.42yrsUS$81.25k0.023%
$ 109.2k
Marshall Brozost
Independent Director10.42yrsUS$81.25kno data

10.4yrs

Average Tenure

57yo

Average Age

Experienced Board: PFLT's board of directors are seasoned and experienced ( 10.4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: PFLT insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

PennantPark Floating Rate Capital Ltd.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: PennantPark Floating Rate Capital Ltd.
  • Ticker: PFLT
  • Exchange: NasdaqGS
  • Founded: 2010
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Market Cap: US$470.305m
  • Shares outstanding: 38.77m
  • Website: https://www.pennantpark.com/pflt/about/index.php

Location

  • PennantPark Floating Rate Capital Ltd.
  • 590 Madison Avenue
  • 15th Floor
  • New York
  • New York
  • 10022
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PFLTNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDApr 2011
22PDB (Deutsche Boerse AG)YesCommon StockDEEURApr 2011
PFLTTASE (The Tel-Aviv Stock Exchange)YesCommon StockILILSApr 2011
0KH0LSE (London Stock Exchange)YesCommon StockGBUSDApr 2011

Biography

PennantPark Floating Rate Capital Ltd. is a business development company. It seeks to make secondary direct, debt, equity, and loan investments. The fund seeks to invest through floating rate loans in priv...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/03/03 00:19
End of Day Share Price2021/03/02 00:00
Earnings2020/12/31
Annual Earnings2020/09/30


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.