P

PennantPark Floating Rate Capital Ltd
NYSE:PFLT

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PennantPark Floating Rate Capital Ltd
NYSE:PFLT
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Price: 11.06 USD 0.36% Market Closed
Market Cap: 812m USD
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Intrinsic Value

The intrinsic value of one PFLT stock under the Base Case scenario is 16.5 USD. Compared to the current market price of 11.06 USD, PennantPark Floating Rate Capital Ltd is Undervalued by 33%.

The Intrinsic Value is calculated as the average of DCF and Relative values:

PFLT Intrinsic Value
16.5 USD
Undervaluation 33%
Intrinsic Value
Price
P
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Best Case

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PennantPark Floating Rate Capital Ltd

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Backtest Conclusion
Very Attractive
Current Valuation
+45%
Avg Valuation
-12%
Worst Valuation
-49%
Best Valuation
+45%

Stock is trading at its lowest valuation over the past 5 years.

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Fundamental Analysis

Economic Moat
PennantPark Floating Rate Capital Ltd

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Financials
Annual
Quarterly
TTM
Annual
Quarterly
TTM

Balance Sheet Decomposition
PennantPark Floating Rate Capital Ltd

Current Assets 98m
Cash & Short-Term Investments 84.6m
Receivables 13.2m
Other Current Assets 152k
Non-Current Assets 1.7B
Long-Term Investments 1.7B
Current Liabilities 42.2m
Accounts Payable 9.2m
Accrued Liabilities 16.4m
Other Current Liabilities 16.6m
Non-Current Liabilities 897.9m
Long-Term Debt 896.4m
Other Non-Current Liabilities 1.6m
Efficiency

Earnings Waterfall
PennantPark Floating Rate Capital Ltd

Revenue
166.6m USD
Cost of Revenue
-81.1m USD
Gross Profit
85.5m USD
Operating Expenses
-6.2m USD
Operating Income
79.3m USD
Other Expenses
19.2m USD
Net Income
98.5m USD

Free Cash Flow Analysis
PennantPark Floating Rate Capital Ltd

Last Value
3-Years Average
FCF Margin
Conversion Rate
Earnings Calls

PennantPark Floating Rate Capital reported strong results for the quarter ended June 30, with a 12% growth in portfolio to $1.7 billion and a net investment income of $0.31 per share. The company invested $321 million in 58 companies at an 11.5% yield and expects a robust second half of 2024. Despite tightening market spreads by 50-75 basis points, investments maintained low leverage and high covenant protections. The debt-to-equity ratio is 1.1:1 with substantial liquidity, and plans to upsize the JV portfolio to $1 billion further bolster future growth. The company emphasizes capital preservation and strategic equity co-investments, achieving a 26% IRR since inception.

What is Earnings Call?
Fundamental Scores

PFLT Profitability Score
Profitability Due Diligence

PennantPark Floating Rate Capital Ltd's profitability score is 55/100. The higher the profitability score, the more profitable the company is.

Positive Gross Profit
Positive Operating Income
Positive Net Income
Exceptional 3-Years Revenue Growth
55/100
Profitability
Score

PennantPark Floating Rate Capital Ltd's profitability score is 55/100. The higher the profitability score, the more profitable the company is.

PFLT Solvency Score
Solvency Due Diligence

PennantPark Floating Rate Capital Ltd's solvency score is 32/100. The higher the solvency score, the more solvent the company is.

Short-Term Solvency
Long-Term Solvency
Average D/E
Positive Net Debt
32/100
Solvency
Score

PennantPark Floating Rate Capital Ltd's solvency score is 32/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

PFLT Price Targets Summary
PennantPark Floating Rate Capital Ltd

Wall Street analysts forecast PFLT stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for PFLT is 11.9 USD with a low forecast of 11.11 USD and a high forecast of 12.6 USD.

Lowest
Price Target
11.11 USD
0% Upside
Average
Price Target
11.9 USD
8% Upside
Highest
Price Target
12.6 USD
14% Upside
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Dividends

Dividend Yield
Lowest
Average
Highest
Dividend Per Share
N/A
Growth 3Y
Growth 5Y
Growth 10Y
Dividend Safety Score
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Unsafe
Unsafe
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Safe
0
25
50
75
100
Shareholder Yield

Current shareholder yield for PFLT is .

Shareholder yield represents the total return a company provides to its shareholders, calculated as the sum of dividend yield, buyback yield, and debt paydown yield. What is shareholder yield?

Shareholder Yield
Dividend Yield
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Average
Highest
Buyback Yield
Lowest
Average
Highest
Debt Paydown Yield
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Average
Highest

Ownership

PFLT Insider Trading
Buy and sell transactions by insiders

Cumulative Transactions Amount
Period Sold Bought Net
3 Months
6 Months
9 Months
12 Months
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Profile

PennantPark Floating Rate Capital Ltd

Country

United States of America

Industry

Financial Services

Market Cap

796.3m USD

Dividend Yield

11.12%

Description

PennantPark Floating Rate Capital Ltd is a non-diversified closed-end management investment company invests in small market-cap and public middle market companies located in the U.S. and to a limited extent non-US companies. The company is headquartered in New York City, New York. The company went IPO on 2011-04-08. The Company’s investment objectives are to generate both current income and capital appreciation while seeking to preserve capital. The firm seeks to achieve its investment objectives by investing primarily in loans bearing variable rates of interest or floating rate loans and other investments made to United States middle-market private companies whose debt is rated below investment grade. Interest on floating rate loans is determined periodically, on the basis of a floating base lending rate, such as LIBOR, with or without a floor, plus a fixed spread. Under normal market conditions, the Company generally expect that at least 80% of the value of its net assets plus any borrowings for investment purposes or its Managed Assets, will be invested in floating rate loans and other investments bearing a variable rate of interest.

Contact

NEW YORK
New York City
590 Madison Ave Fl 15
+12129051000.0
www.pennantpark.com

IPO

2011-04-08

Employees

-

Officers

Founder, Chairman & CEO
Mr. Arthur Howard Penn
CFO & Treasurer
Mr. Richard Thomas Allorto Jr., CPA
Partner & Director
Mr. Jose A. Briones Jr.
Manager of Operations
Mr. Matthew Visgilio
Chief Compliance Officer
Mr. Frank Robert Galea C.F.A.
MD & General Counsel
Mr. Adam Katz
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Director of Human Resources
Ms. Sarah de la Villa
Partner
Mr. P. Whitridge Williams Jr., J.D.
Senior Vice President
Mr. Brian Kendall
Show Less

See Also

Discover More
What is the Intrinsic Value of one PFLT stock?

The intrinsic value of one PFLT stock under the Base Case scenario is 16.5 USD.

Is PFLT stock undervalued or overvalued?

Compared to the current market price of 11.06 USD, PennantPark Floating Rate Capital Ltd is Undervalued by 33%.

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