PennantPark Floating Rate Capital
Market Cap
US$470.3m
Last Updated
2021/03/03 00:19 UTC
Data Sources
Company Financials +
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
| PFLT | Industry | Market | |
|---|---|---|---|
| 7 Day | 1.6% | 1.0% | -0.7% |
| 30 Day | 11.5% | 10.8% | 4.3% |
| 90 Day | 12.1% | 17.0% | 8.1% |
| 1 Year | 20.8%5.8% | 42.2%38.8% | 39.6%36.6% |
| 3 Year | 30.0%-5.0% | 40.1%29.7% | 53.5%43.7% |
| 5 Year | 72.5%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
3 years ago | Simply Wall St
PennantPark Floating Rate Capital Ltd (PFLT): Has Recent Earnings Growth Beaten Long-Term Trend?3 years ago | Simply Wall St
PennantPark Floating Rate Capital Ltd (PFLT): Are Analysts’ Earnings Forecasts Signalling Trouble Ahead?4 years ago | Simply Wall St
PennantPark Floating Rate Capital Ltd (PFLT): Earnings Growth To Remain ElusiveValuation
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
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Founder | 11.17yrs | no data | no data | |
| CFO & Treasurer | 10.42yrs | no data | 0.28% $ 1.3m | |
| Chief Compliance Officer | 10yrs | no data | no data | |
| no data | no data | no data | ||
| no data | no data | no data | ||
| Secretary | no data | no data | no data | |
| no data | no data | no 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
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Founder | 11.17yrs | no data | no data | |
| Independent Director | 10.42yrs | US$83.75k | 0.38% $ 1.8m | |
| Independent Director | 10.42yrs | US$83.75k | 0.041% $ 192.9k | |
| Independent Director | 10.42yrs | US$81.25k | 0.023% $ 109.2k | |
| Independent Director | 10.42yrs | US$81.25k | no 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
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| PFLT | NasdaqGS (Nasdaq Global Select) | Yes | Common Stock | US | USD | Apr 2011 |
| 22P | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Apr 2011 |
| PFLT | TASE (The Tel-Aviv Stock Exchange) | Yes | Common Stock | IL | ILS | Apr 2011 |
| 0KH0 | LSE (London Stock Exchange) | Yes | Common Stock | GB | USD | Apr 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
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/03/03 00:19 |
| End of Day Share Price | 2021/03/02 00:00 |
| Earnings | 2020/12/31 |
| Annual Earnings | 2020/09/30 |
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.