PennantPark Floating Rate Capital Ltd. Financial Ratios — PFLT

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	- -	- -	- -	346.51	164.64	630.45	679.29	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	- -	7.99	4.73	5.85	3.17	6.39	5.27	3.67	1.02	1.6	4.87	0.29	3.26	5.59	2.64
Return on Capital (%)	- -	27.25	15.47	18.5	16.32	28.18	17.84	13.05	6.46	3.12	9.44	0.58	- -	12.57	4.9
Return on Invested Capital (%)	- -	5.62	5.33	6.2	5.98	6.56	6.33	6.48	6.81	- -	- -	- -	- -	- -	- -
Gross Margin (%)	- -	89.48	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	- -	57.03	89.85	90.26	137.04	87.92	103.13	114.86	363.55	- -	- -	- -	- -	- -	- -
Operating Margin (%)	- -	57.03	89.85	90.26	137.04	87.92	103.13	114.86	363.55	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	57.03	2,687.3	90.92	-37.15	46.49	282.71	170.03	-52.33	-2,656.09	- -	- -	- -	- -	- -
Pretax Margin (%)	- -	84.48	84.15	88.97	74.99	88.77	89.51	69.11	57.23	82.96	91.93	72.51	89.51	85.56	86.21
Profit Margin (%)	- -	84.18	83.3	86.94	72.45	88.77	88.78	67.49	57.23	81.19	91.28	29.73	93.13	84.56	84.76
Net Income to Common Margin (%)	- -	84.18	83.3	86.94	72.45	88.77	88.78	67.49	57.23	81.19	91.28	29.73	93.13	84.56	84.76
Effective Tax Rate (%)	- -	0.35	1.02	2.28	3.4	- -	0.82	2.33	- -	2.13	0.7	59	- -	1.17	1.68
Dvd Payout Ratio (%)	- -	51.55	76.44	78.07	141.24	90.99	94.41	128.33	387.17	240.05	78.22	1,334.12	149.61	85.82	168.1
Sustainable Growth Rate (%)	- -	- -	- -	75.99	-67.9	56.79	37.95	- -	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

API Chat

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	25	75	100	147	30	232	257	468	624	653	653	673	495	1,177	1,777
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	25	75	100	147	30	232	257	468	624	653	653	673	495	1,177	1,777
Total Debt/EBITDA	- -	9.27	7.7	6.9	1.25	7.01	6.09	8.21	8.6	- -	- -	- -	- -	- -	- -
Net Debt/EBITDA	- -	-0.47	7.35	-0.62	0.35	-0.87	-0.45	1.11	4.08	- -	- -	- -	- -	- -	- -
Total Debt/EBIT	- -	9.27	7.7	6.9	1.25	7.01	6.09	8.21	8.6	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	-0.47	7.35	-0.62	0.35	-0.87	-0.45	1.11	4.08	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	5.47	6.97	6.14	7.27	6.74	5.06	3.97	3.22	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	5.47	6.97	6.14	7.27	6.74	5.06	3.97	3.22	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	5.47	6.97	6.14	7.27	6.74	5.06	3.97	3.22	- -	- -	- -	- -	- -	- -
Interest Expense	- -	1	2	3	3	5	8	14	23	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	-0.89	-0.05	1.24	2.09	1.78	0.51	1	-0.34	-3.09	-5.3	-4.12	-7.41	-9.46	-4.72	-4.98
Long-Term Debt/Equity (%)	26.77	78.46	47.41	68.5	7.94	61.82	56.09	87.27	123.95	136.86	133.02	127.64	75.8	134.17	165.36
Long-Term Debt/Capital (%)	104.55	100.11	96.08	94.97	79.97	98.64	97.17	100.78	106.05	110.28	107.97	115.63	129.07	109.23	108.89
Long-Term Debt/Total Assets (%)	20.36	42.12	30.29	39.41	7.11	36.8	34.37	43.44	54.11	56.89	55.74	54.81	42	55.81	60.98
Total Debt/Equity (%)	26.77	78.46	47.41	68.5	7.94	61.82	56.09	87.27	123.95	136.86	133.02	127.64	75.8	134.17	165.36
Total Debt/Capital (%)	104.55	100.11	96.08	94.97	79.97	98.64	97.17	100.78	106.05	110.28	107.97	115.63	129.07	109.23	108.89
Total Debt/Total Assets (%)	20.36	42.12	30.29	39.41	7.11	36.8	34.37	43.44	54.11	56.89	55.74	54.81	42	55.81	60.98
Net Debt to Equity	-5.07	-4.02	45.23	-6.11	2.19	-7.69	-4.13	11.81	58.88	-12.05	-10.16	-9.77	-15.38	-12.77	-11.42
Net Debt/Capital (%)	-28.12	-5.4	95.9	-9.26	52.43	-13.99	-7.71	16.15	56.46	-10.75	-8.98	-9.71	-35.49	-11.6	-8.13
EBITDA	- -	8	13	21	24	33	42	57	73	- -	- -	- -	- -	- -	- -
EBITDA-CapEx	- -	8	13	21	24	33	42	57	73	- -	- -	- -	- -	- -	- -
Operating Income (Loss)	- -	8	13	21	24	33	42	57	73	- -	- -	- -	- -	- -	- -

Liquidity (USD)

API Chat

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	0.26	0.05	0.25	0.08	1.57	0.11	0.07	0.18	0.22	- -	- -	- -	- -	- -	- -
Current Ratio	0.39	0.08	0.6	0.15	1.82	0.13	0.13	0.19	0.24	- -	- -	- -	- -	- -	- -
Quick Ratio	0.38	0.08	0.57	0.15	1.72	0.12	0.12	0.19	0.24	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	-0.88	-2.47	-0.25	-0.03	-1.23	-0.28	-0.6	-0.35	-0.03	- -	- -	- -	- -	- -
Common Equity/Total Assets	-0.89	-0.05	1.24	2.09	1.78	0.51	1	-0.34	-3.09	-5.3	-4.12	-7.41	-9.46	-4.72	-4.98
Long-Term Debt/Equity (%)	26.77	78.46	47.41	68.5	7.94	61.82	56.09	87.27	123.95	136.86	133.02	127.64	75.8	134.17	165.36
Long-Term Debt/Capital (%)	104.55	100.11	96.08	94.97	79.97	98.64	97.17	100.78	106.05	110.28	107.97	115.63	129.07	109.23	108.89
Long-Term Debt/Total Assets (%)	20.36	42.12	30.29	39.41	7.11	36.8	34.37	43.44	54.11	56.89	55.74	54.81	42	55.81	60.98
Total Debt/Equity (%)	26.77	78.46	47.41	68.5	7.94	61.82	56.09	87.27	123.95	136.86	133.02	127.64	75.8	134.17	165.36
Total Debt/Capital (%)	104.55	100.11	96.08	94.97	79.97	98.64	97.17	100.78	106.05	110.28	107.97	115.63	129.07	109.23	108.89
Total Debt/Total Assets (%)	20.36	42.12	30.29	39.41	7.11	36.8	34.37	43.44	54.11	56.89	55.74	54.81	42	55.81	60.98
CFO/Total Liabilities	- -	-57.88	-104.78	-14.05	-5.1	-64.76	-26.5	-38.53	-18.7	-0.74	7.32	-6.65	26.72	-65.07	-39.18
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	-0.17	0.35	0.83	0.63	2.99	0.65	0.76	0.41	0.37	0.24	0.43	0.26	0.52	0.36	0.22

Working Capital (USD)

API Chat

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	- -	5.87	3.52	2.85	2.71	16.99	4.27	5.08	4.11	6.58	- -	- -	- -	- -	- -
Days Sales Outstanding	- -	62.2	103.7	128.2	134.66	21.48	85.58	71.79	88.78	55.45	- -	- -	- -	- -	- -
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	0.53	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	694.4	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	-632.2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	62.2	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

API Chat

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	- -	87	132	205	195	354	438	506	450	327	496	414	544	759	819
- Cash & Cash Equivalents	7	4	5	13	21	29	19	72	63	58	50	51	101	112	123
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	25	75	100	147	30	232	257	468	624	653	653	673	495	1,177	1,777
Enterprise Value	18	158	227	339	203	557	676	902	1,010	923	1,099	1,036	938	1,824	2,474
Total Capital	24	75	104	155	37	236	264	464	588	592	604	582	384	1,078	1,632
Total Debt/Capital (%)	104.55	100.11	96.08	94.97	79.97	98.64	97.17	100.78	106.05	110.28	107.97	115.63	129.07	109.23	108.89
Total Debt / EV	1.4	0.48	0.44	0.43	0.15	0.42	0.38	0.52	0.62	0.71	0.59	0.65	0.53	0.65	0.72
EV/Sales	- -	11.13	15.79	14.37	11.74	14.77	16.53	18.17	50.63	40.7	17.74	89.17	22.26	16.79	31.59
EV/EBITDA	- -	19.51	17.57	15.92	8.57	16.8	16.03	15.82	13.93	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	19.51	17.57	15.92	8.57	16.8	16.03	15.82	13.93	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	216.64	- -	- -	- -	- -	- -	22.06	- -	6.68	- -	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	216.64	- -	- -	- -	- -	- -	22.06	- -	6.68	- -	- -
Diluted Market Cap	- -	87	132	205	195	354	438	506	450	327	496	414	544	759	819
Diluted Enterprise Value	18	158	227	339	203	557	676	902	1,010	923	1,099	1,036	938	1,824	2,474
EV per Share	- -	23.07	23.69	22.76	12.44	20.84	22.34	23.42	26.05	23.8	28.34	23.99	18.4	27.8	26.84
TTM Sales	- -	14	14	24	17	38	41	50	20	23	62	12	42	109	78
TTM EBITDA	- -	8	13	21	24	33	42	57	73	- -	- -	- -	- -	- -	- -
TTM Operating Income	- -	8	13	21	24	33	42	57	73	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	- -	-46	-123	-19	1	-161	-68	-194	-99	-5	50	-47	141	-801	-721
TTM Free Cash Flow to Firm	- -	-46	-123	-19	1	-161	-68	-194	-99	-5	50	-47	141	-801	-721

Multiples (USD)

API Chat

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	- -	-1.81	-1.06	-9.23	-88.2	-2.14	-5.71	-2.43	-3.7	-66.23	9.96	-8.9	3.87	-0.95	-1.14
EV/EBIT	- -	19.51	17.57	15.92	8.57	16.8	16.03	15.82	13.93	- -	- -	- -	- -	- -	- -
Enterprise Value	18	158	227	339	203	557	676	902	1,010	923	1,099	1,036	938	1,824	2,474
Low Price	9.42	9.81	12.22	13.05	9.87	9.73	12.21	12	11.05	3.34	7.7	9.57	9.43	9.69	8.82
EV/Sales	- -	11.13	15.79	14.37	11.74	14.77	16.53	18.17	50.63	40.7	17.74	89.17	22.26	16.79	31.59
EV/EBITDA	- -	19.51	17.57	15.92	8.57	16.8	16.03	15.82	13.93	- -	- -	- -	- -	- -	- -
Price/Earnings	- -	7.26	11.02	10.01	15.56	10.56	12.07	15.11	39.4	17.77	8.77	120	13.84	8.26	12.35
Price/Earnings Average	- -	6.61	10.95	10.05	17.87	9.53	11.58	15.63	41.93	20.08	8.01	158.21	14.09	8.06	14.84
Price/Earnings High	- -	7.63	12.02	10.51	18.96	10.61	12.07	16.84	45.58	26.68	9.26	179.75	16.01	9.02	16.53
Price/Earnings Low	- -	5.62	9.78	9.48	12.86	7.77	10.18	13.79	37.53	7.03	5.28	119.62	12.25	6.92	12.25
Price/Book Value	- -	-1,055.47	32.51	26.4	26.24	110.18	58.56	-139.81	-12.64	-5.38	-10.29	-4.56	-4.87	-7.63	-5.65
Price/Book Value Average	- -	-961.72	32.27	26.5	30.13	99.48	56.22	-144.61	-13.46	-6.07	-9.4	-6.01	-4.96	-7.44	-6.79
Price/Book Value High	- -	-1,110.46	35.43	27.72	31.97	110.68	58.56	-155.75	-14.63	-8.07	-10.86	-6.83	-5.63	-8.33	-7.57
Price/Book Value Low	- -	-817.22	28.83	25	21.69	81.03	49.38	-127.58	-12.04	-2.13	-6.19	-4.54	-4.31	-6.39	-5.61
Price/Tangible Book Value	- -	0.91	0.63	0.96	0.52	0.94	0.96	0.94	0.89	0.69	1.01	0.79	0.83	0.87	0.76
Price/Tangible Book Value Average	- -	0.83	0.62	0.96	0.6	0.85	0.92	0.98	0.95	0.77	0.92	1.04	0.85	0.84	0.92
Price/Tangible Book Value High	- -	0.95	0.69	1	0.64	0.95	0.96	1.05	1.03	1.03	1.07	1.18	0.96	0.94	1.02
Price/Tangible Book Value Low	- -	0.7	0.56	0.91	0.43	0.69	0.81	0.86	0.85	0.27	0.61	0.78	0.74	0.72	0.76
Price/Sales	- -	6.11	9.18	8.7	11.27	9.37	10.71	10.2	22.55	14.43	8.01	35.68	12.89	6.99	10.47
Price/Sales Average	- -	5.57	9.12	8.73	12.94	8.46	10.28	10.55	24	16.3	7.32	47.04	13.12	6.81	12.58
Price/Sales High	- -	6.43	10.01	9.14	13.73	9.42	10.71	11.37	26.08	21.66	8.45	53.44	14.91	7.63	14.01
Price/Sales Low	- -	4.73	8.14	8.24	9.32	6.89	9.03	9.31	21.48	5.71	4.82	35.57	11.41	5.85	10.38
Price/Cash Flow	- -	-1.81	-1.06	-9.23	-88.2	-2.14	-5.71	-2.43	-3.7	-66.23	9.96	-8.9	3.87	-0.95	-1.14
Price/Cash Flow Average	- -	-1.65	-1.05	-9.26	-101.3	-1.93	-5.49	-2.51	-3.94	-74.82	9.1	-11.73	3.93	-0.92	-1.37
Price/Cash Flow High	- -	-1.91	-1.16	-9.69	-107.48	-2.15	-5.71	-2.71	-4.29	-99.42	10.51	-13.33	4.47	-1.03	-1.52
Price/Cash Flow Low	- -	-1.41	-0.94	-8.74	-72.91	-1.57	-4.82	-2.22	-3.53	-26.21	5.99	-8.87	3.42	-0.79	-1.13
Price/Free Cash Flow Average	- -	-1.65	-1.05	-9.26	-101.3	-1.93	-5.49	-2.51	-3.94	-74.82	9.1	-11.73	3.93	-0.92	-1.37
Price/Free Cash Flow High	- -	-1.91	-1.16	-9.69	-107.48	-2.15	-5.71	-2.71	-4.29	-99.42	10.51	-13.33	4.47	-1.03	-1.52
Price/Free Cash Flow Low	- -	-1.41	-0.94	-8.74	-72.91	-1.57	-4.82	-2.22	-3.53	-26.21	5.99	-8.87	3.42	-0.79	-1.13
EV/Sales Average	- -	10.58	15.72	14.41	13.42	13.86	16.1	18.52	52.08	42.57	17.05	100.53	22.49	16.62	33.7
EV/Sales High	- -	11.44	16.61	14.81	14.21	14.81	16.53	19.33	54.17	47.93	18.19	106.94	24.28	17.44	35.14
EV/Sales Low	- -	9.75	14.75	13.91	9.79	12.29	14.85	17.28	49.56	31.98	14.56	89.06	20.77	15.66	31.51
EV/EBITDA Average	- -	18.56	17.5	15.96	9.79	15.76	15.61	16.13	14.33	- -	- -	- -	- -	- -	- -
EV/EBITDA High	- -	20.06	18.49	16.4	10.37	16.85	16.03	16.83	14.9	- -	- -	- -	- -	- -	- -
EV/EBITDA Low	- -	17.09	16.41	15.41	7.14	13.98	14.4	15.04	13.63	- -	- -	- -	- -	- -	- -
EV/EBIT Average	- -	18.56	17.5	15.96	9.79	15.76	15.61	16.13	14.33	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	20.06	18.49	16.4	10.37	16.85	16.03	16.83	14.9	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	17.09	16.41	15.41	7.14	13.98	14.4	15.04	13.63	- -	- -	- -	- -	- -	- -
Last Price	10.55	12.67	13.78	13.78	11.94	13.23	14.48	13.15	11.6	8.44	12.79	9.6	10.66	11.57	8.89
High Price	14.13	13.33	15.02	14.47	14.55	13.29	14.48	14.65	13.42	12.67	13.5	14.38	12.33	12.63	11.9
Enterprise Value Average	18	150	226	340	232	523	659	919	1,039	965	1,056	1,168	948	1,805	2,639
Enterprise Value High	18	163	239	349	245	559	676	959	1,081	1,087	1,126	1,242	1,024	1,894	2,751
Enterprise Value Low	18	138	212	328	169	464	608	857	989	725	901	1,034	876	1,701	2,467

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	7	7	15	15	27	27	32	39	39	39	39	45	59	78	99
Diluted Weighted Avg Shares	- -	7	10	15	16	27	30	38	39	39	39	43	51	66	92
Basic Weighted Avg Shares	- -	7	10	15	16	27	30	38	39	39	39	43	51	66	92
Revenue per Share	- -	2.07	1.5	1.58	1.06	1.41	1.35	1.29	0.51	0.58	1.6	0.27	0.83	1.66	0.85
EBITDA per Share	- -	1.18	1.35	1.43	1.45	1.24	1.39	1.48	1.87	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	1.18	1.35	1.43	1.45	1.24	1.39	1.48	1.87	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	- -	1.75	1.25	1.38	0.77	1.25	1.2	0.87	0.29	0.47	1.46	0.08	0.77	1.4	0.72
Basic EPS from Cont Ops	- -	1.75	1.25	1.38	0.77	1.25	1.2	0.87	0.29	0.47	1.46	0.08	0.77	1.4	0.72
Diluted EPS, GAAP	- -	1.75	1.25	1.38	0.77	1.25	1.2	0.87	0.29	0.47	1.46	0.08	0.77	1.4	0.72
Diluted EPS from Cont Ops	- -	1.75	1.25	1.38	0.77	1.25	1.2	0.87	0.29	0.47	1.46	0.08	0.77	1.4	0.72
Dividend per Share	- -	0.9	0.96	1.07	1.08	1.14	1.13	1.12	1.14	1.14	1.14	1.07	1.15	1.2	1.21
Cash Flow per Share	- -	-6.98	-12.98	-1.49	-0.14	-6.19	-2.53	-5.41	-3.13	-0.13	1.28	-1.08	2.76	-12.22	-7.82
Free Cash Flow per Basic Share	- -	-6.98	-12.98	-1.49	-0.14	-6.19	-2.53	-5.41	-3.13	-0.13	1.28	-1.08	2.76	-12.22	-7.82
Cash & Equivalents per Share	- -	0.56	0.48	0.88	1.32	1.08	0.62	1.88	1.63	1.48	1.29	1.19	1.97	1.71	1.33
Book Value per Share	- -	-0.01	0.42	0.52	0.46	0.12	0.25	-0.09	-0.92	-1.57	-1.24	-2.11	-2.19	-1.52	-1.57
Tangible Book Value per Share	- -	13.98	21.91	14.4	22.89	14.06	15.13	13.92	12.97	12.31	12.66	12.21	12.82	13.37	11.66

PennantPark Floating Rate Capital Ltd.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)