NYSE:AIF

Stock Analysis Report

Executive Summary

Apollo Tactical Income Fund Inc. is a closed-ended fixed income fund launched and managed by Apollo Credit Management, LLC.

Rewards


Snowflake Analysis

Share Price & News

How has Apollo Tactical Income Fund's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: AIF has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-6.1%

AIF

-8.6%

US Capital Markets

-10.6%

US Market


1 Year Return

0.2%

AIF

4.9%

US Capital Markets

5.2%

US Market

Return vs Industry: AIF underperformed the US Capital Markets industry which returned 4.9% over the past year.

Return vs Market: AIF underperformed the US Market which returned 5.2% over the past year.


Shareholder returns

AIFIndustryMarket
7 Day-6.1%-8.6%-10.6%
30 Day-4.8%-7.9%-8.5%
90 Day1.2%-4.4%-4.6%
1 Year8.8%0.2%7.1%4.9%7.4%5.2%
3 Year17.7%-8.1%25.5%18.4%31.7%23.2%
5 Year42.0%-10.0%65.9%50.7%56.4%39.3%

Price Volatility Vs. Market

How volatile is Apollo Tactical Income Fund's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Apollo Tactical Income Fund undervalued compared to its fair value and its price relative to the market?

18.89x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: AIF ($14.82) is trading above our estimate of fair value ($12.52)

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


Price To Earnings Ratio

PE vs Industry: AIF is good value based on its PE Ratio (18.9x) compared to the Capital Markets industry average (30.2x).

PE vs Market: AIF is poor value based on its PE Ratio (18.9x) compared to the US market (16.9x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate AIF's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: AIF is good value based on its PB Ratio (0.9x) compared to the US Capital Markets industry average (6.2x).

Future Growth

How is Apollo Tactical Income Fund forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

7.9%

Forecasted Diversified Financials industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Apollo Tactical Income Fund has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Past Performance

How has Apollo Tactical Income Fund performed over the past 5 years?

7.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AIF has a large one-off loss of $7.4M impacting its June 30 2019 financial results.

Growing Profit Margin: AIF's current net profit margins (39.6%) are lower than last year (55.7%).


Past Earnings Growth Analysis

Earnings Trend: AIF's earnings have grown by 7.1% per year over the past 5 years.

Accelerating Growth: AIF's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: AIF had negative earnings growth (-27.7%) over the past year, making it difficult to compare to the Capital Markets industry average (8.5%).


Return on Equity

High ROE: AIF's Return on Equity (4.7%) is considered low.

Financial Health

How is Apollo Tactical Income Fund's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: AIF has a low level of unsold assets or inventory.

Debt Coverage by Assets: AIF's debt is not covered by short term assets (assets are 0.3x debt).


Financial Institutions Analysis

Asset Level: AIF's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if AIF has a sufficient allowance for bad loans.

Low Risk Liabilities: AIF reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if AIF has an acceptable proportion of non-loan assets held.

Low Risk Deposits: AIF has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if AIF has an appropriate level of bad loans.

Dividend

What is Apollo Tactical Income Fund's current dividend yield, its reliability and sustainability?

8.27%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: AIF's dividend (8.27%) is higher than the bottom 25% of dividend payers in the US market (1.59%).

High Dividend: AIF's dividend (8.27%) is in the top 25% of dividend payers in the US market (4.09%)


Stability and Growth of Payments

Stable Dividend: AIF has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: AIF has only been paying a dividend for 7 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (161%), AIF'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?

9.1yrs

Average board tenure


CEO

Apollo Tactical Income Fund has no CEO, or we have no data on them.


Board Members

NamePositionTenureCompensationOwnership
Carl Rickertsen
Independent Director9.1yrsUS$22.75kno data
Todd Slotkin
Lead Independent Director0yrsUS$24.25kno data
Robert Borden
Independent Director6.3yrsUS$3.10kno data
Elliot Stein
Independent Director9.1yrsUS$23.50kno data
Glenn Marchak
Independent Director9.1yrsUS$27.25kno data

9.1yrs

Average Tenure

63yo

Average Age

Experienced Board: AIF's board of directors are considered experienced (9.1 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

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


Top Shareholders

Company Information

Apollo Tactical Income Fund Inc.'s company bio, employee growth, exchange listings and data sources


Key Information


Location

  • Apollo Tactical Income Fund Inc.
  • 9 West 57th Street
  • New York
  • New York
  • 10019
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AIFNYSE (New York Stock Exchange)YesCommon StockUSUSDFeb 2013

Biography

Apollo Tactical Income Fund Inc. is a closed-ended fixed income fund launched and managed by Apollo Credit Management, LLC. The fund invests in fixed income markets. It primarily invests in senior secured loans including floating rate senior loans, high yield corporate bonds, and other credit instruments of varying maturities made to companies whose debt is typically rated below investment grade. The fund employs a conservative approach to credit selection that focuses on such factors as collateral coverage, structural seniority, credit fundamentals, with emphasis on leading defensible market positions, stable companies with positive cash flow, and proven management teams to create its portfolio. Apollo Tactical Income Fund Inc. was formed on February 25, 2013 and is domiciled in the United States. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/28 02:31
End of Day Share Price2020/02/27 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.