BlackRock TCP Capital Corp. Financial Ratios — TCPC Stock

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 (%)	99.57	152.71	272.11	217.41	353.03	546.57	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	3.34	5.78	9.37	4.98	6.39	7.26	6.01	2.77	1.81	4.21	7.5	-0.51	2.25	-3.49	-4.98
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	12.08	10.53	9.02	8.79	7.38	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	- -	129.38	80.55	133.23	112.19	88.47	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Margin (%)	- -	129.38	80.55	133.23	112.19	88.47	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	61.24	178.34	37.15	-226.9	73.33	-30.97	2,101.51	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	75.86	89.81	93.76	86.65	87.4	88.58	87.37	76.65	69.41	81.96	87.22	-329.12	76.42	137.93	114.2
Profit Margin (%)	75.86	85.23	92.33	85.27	86.42	88.05	87.34	76.49	69.41	81.96	87.22	-329.12	75.93	139.08	115.09
Net Income to Common Margin (%)	75.86	85.23	92.33	85.27	86.42	88.05	87.34	76.49	69.41	81.96	87.22	-329.12	75.93	139.08	115.09
Effective Tax Rate (%)	- -	5.1	1.52	1.59	1.11	0.59	0.04	0.2	- -	- -	- -	- -	0.64	- -	- -
Dvd Payout Ratio (%)	782.56	110.23	66.27	129.15	91.72	77.57	91.17	186.24	276.72	107.34	51.81	-763.94	261.25	-194.08	-107.01
Sustainable Growth Rate (%)	-679.63	-15.61	91.77	-63.37	29.24	122.6	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

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	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	29	74	95	329	498	572	725	805	908	850	1,012	944	985	1,118	1,036
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	29	74	95	329	498	572	725	805	908	850	1,012	944	985	1,118	1,036
Total Debt/EBITDA	- -	1.77	1.72	4.21	4.91	5.97	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBITDA	- -	-0.43	1.3	3.86	4.6	5.41	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/EBIT	- -	1.77	1.72	4.21	4.91	5.97	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	-0.43	1.3	3.86	4.6	5.41	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	3.35	4.11	2.99	1.82	1.8	0.91	-10.32	-10.22	-12.84	-12.86	-7.23	-12.86	-16.48	-49.19	-68.61
Long-Term Debt/Equity (%)	12.19	23.42	17.28	44.96	69.01	72.28	83.29	96.96	116.94	111.12	122.06	126.41	143.28	142.44	173.16
Long-Term Debt/Capital (%)	68.21	76.65	80.59	93.74	95.71	97.85	130.18	126.68	132.19	133.85	115.64	130.59	139.71	648.67	-1,070.41
Long-Term Debt/Total Assets (%)	7.19	13.47	11.83	27.26	40.21	41.2	44.51	48.52	52.72	50.84	53.45	54.9	57.99	58.16	62.75
Total Debt/Equity (%)	12.19	23.42	17.28	44.96	69.01	72.28	83.29	96.96	116.94	111.12	122.06	126.41	143.28	142.44	173.16
Total Debt/Capital (%)	68.21	76.65	80.59	93.74	95.71	97.85	130.18	126.68	132.19	133.85	115.64	130.59	139.71	648.67	-1,070.41
Total Debt/Total Assets (%)	7.19	13.47	11.83	27.26	40.21	41.2	44.51	48.52	52.72	50.84	53.45	54.9	57.99	58.16	62.75
Net Debt to Equity	-4.55	-5.71	13.1	41.23	64.65	65.5	73.43	93.59	-5.78	-2.62	-2.36	-11.04	-16.32	-11.67	-10.21
Net Debt/Capital (%)	-34.19	-22.97	75.89	93.22	96.27	97.63	135.68	127.91	-6.99	-3.25	-2.28	-12.87	-18.93	-113.33	38.7
EBITDA	- -	42	55	78	101	96	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx	- -	42	55	78	101	96	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income (Loss)	- -	42	55	78	101	96	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	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	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	3.35	4.11	2.99	1.82	1.8	0.91	-10.32	-10.22	-12.84	-12.86	-7.23	-12.86	-16.48	-49.19	-68.61
Long-Term Debt/Equity (%)	12.19	23.42	17.28	44.96	69.01	72.28	83.29	96.96	116.94	111.12	122.06	126.41	143.28	142.44	173.16
Long-Term Debt/Capital (%)	68.21	76.65	80.59	93.74	95.71	97.85	130.18	126.68	132.19	133.85	115.64	130.59	139.71	648.67	-1,070.41
Long-Term Debt/Total Assets (%)	7.19	13.47	11.83	27.26	40.21	41.2	44.51	48.52	52.72	50.84	53.45	54.9	57.99	58.16	62.75
Total Debt/Equity (%)	12.19	23.42	17.28	44.96	69.01	72.28	83.29	96.96	116.94	111.12	122.06	126.41	143.28	142.44	173.16
Total Debt/Capital (%)	68.21	76.65	80.59	93.74	95.71	97.85	130.18	126.68	132.19	133.85	115.64	130.59	139.71	648.67	-1,070.41
Total Debt/Total Assets (%)	7.19	13.47	11.83	27.26	40.21	41.2	44.51	48.52	52.72	50.84	53.45	54.9	57.99	58.16	62.75
CFO/Total Liabilities	46.36	-37.91	-77.06	-77.53	7.93	-7.72	-16.9	-5.59	0.5	13.49	-7.76	20.97	9.14	25.76	14.72
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	0.07	1.18	1.38	1.12	1.16	1.18	0.61	0.45	0.37	0.3	0.42	0.28	0.19	-0.35	-1.01

Working Capital (USD)

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	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	2.82	5.95	9.2	5.91	9.45	9.29	6.28	2.9	4.06	- -	- -	- -	- -	- -	- -
Days Sales Outstanding	129.39	61.37	39.66	61.8	38.61	39.27	58.15	126.07	89.89	- -	- -	- -	- -	- -	- -
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	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	- -	317	435	661	681	861	871	767	826	652	780	748	667	694	- -
- Cash & Cash Equivalents	11	18	23	27	36	54	86	28	45	20	20	82	112	92	61
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	-1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	29	74	95	329	498	572	725	805	908	850	1,012	944	985	1,118	1,036
Enterprise Value	18	373	506	962	1,143	1,379	1,510	1,544	1,689	1,482	1,773	1,609	1,540	1,721	974
Total Capital	43	97	118	351	521	584	557	636	687	635	876	723	705	172	-97
Total Debt/Capital (%)	68.21	76.65	80.59	93.74	95.71	97.85	130.18	126.68	132.19	133.85	115.64	130.59	139.71	648.67	-1,070.41
Total Debt / EV	1.6	0.2	0.19	0.34	0.44	0.41	0.48	0.52	0.54	0.57	0.57	0.59	0.64	0.65	1.06
EV/Sales	2.05	11.53	7.37	16.42	12.65	12.73	14.56	25.97	38.33	17.02	11.56	574.05	30.39	- -	- -
EV/EBITDA	- -	8.91	9.15	12.32	11.28	14.39	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	8.91	9.15	12.32	11.28	14.39	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	0.24	- -	- -	- -	27.89	- -	- -	- -	359.79	12.11	- -	7.89	16.65	5.87	6.29
EV/Free Cash Flow to Firm	0.24	- -	- -	- -	27.89	- -	- -	- -	359.79	12.11	- -	7.89	16.65	5.87	6.29
Diluted Market Cap	- -	317	435	661	681	861	871	767	826	652	780	748	667	694	- -
Diluted Enterprise Value	18	373	506	962	1,143	1,379	1,510	1,544	1,689	1,482	1,773	1,609	1,540	1,721	974
EV per Share	0.85	17.35	19.51	24.43	23.4	27.07	26.5	26.26	28.73	25.55	30.7	27.85	26.65	21.6	- -
TTM Sales	9	32	69	59	90	108	104	59	44	87	153	3	51	-45	-77
TTM EBITDA	- -	42	55	78	101	96	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Operating Income	- -	42	55	78	101	96	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	77	-88	-196	-368	41	-46	-128	-46	5	122	-83	204	92	293	155
TTM Free Cash Flow to Firm	77	-88	-196	-368	41	-46	-128	-46	5	122	-83	204	92	293	155

Multiples (USD)

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	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	- -	-3.58	-2.23	-1.8	16.61	-18.68	-6.79	-16.54	175.92	5.33	-9.45	3.67	7.21	2.37	- -
EV/EBIT	- -	8.91	9.15	12.32	11.28	14.39	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	18	373	506	962	1,143	1,379	1,510	1,544	1,689	1,482	1,773	1,609	1,540	1,721	974
Low Price	- -	13.07	14.58	15.03	13.16	12	15.24	12.52	13.01	4.02	11.07	10.65	9.6	7.71	5.29
EV/Sales	2.05	11.53	7.37	16.42	12.65	12.73	14.56	25.97	38.33	17.02	11.56	574.05	30.39	- -	- -
EV/EBITDA	- -	8.91	9.15	12.32	11.28	14.39	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	- -	11.5	6.86	13.22	8.72	9.03	9.61	16.86	27	9.13	5.83	- -	17.33	- -	- -
Price/Earnings Average	- -	11.55	6.52	13.33	9.69	8.15	10.46	18.68	27.11	8.43	5.95	-82.39	17.25	-12.57	- -
Price/Earnings High	- -	12.63	7.24	14.62	10.59	9.22	10.99	20.11	28.59	11.99	6.51	-90.92	20.22	-15.13	- -
Price/Earnings Low	- -	10.19	5.96	11.85	8.23	6.41	9.59	16.19	25	3.27	4.78	-66.69	14.41	-9.73	- -
Price/Book Value	- -	14.04	18.09	30.14	30.51	68.41	-5.18	-4.52	-3.74	-3.03	-5.7	-3.38	-2.38	-0.73	- -
Price/Book Value Average	- -	14.1	17.19	30.39	33.93	61.74	-5.64	-5.01	-3.75	-2.8	-5.81	-3.44	-2.37	-0.84	- -
Price/Book Value High	- -	15.42	19.08	33.32	37.08	69.83	-5.92	-5.39	-3.96	-3.98	-6.36	-3.79	-2.78	-1.01	- -
Price/Book Value Low	- -	12.45	15.72	27	28.82	48.57	-5.17	-4.34	-3.46	-1.08	-4.67	-2.78	-1.98	-0.65	- -
Price/Tangible Book Value	- -	1	0.79	0.9	0.94	1.09	1	0.92	1.06	0.85	0.94	1	0.97	0.88	- -
Price/Tangible Book Value Average	- -	1.01	0.75	0.91	1.05	0.98	1.09	1.02	1.07	0.79	0.96	1.02	0.97	1.01	- -
Price/Tangible Book Value High	- -	1.1	0.83	1	1.15	1.11	1.14	1.1	1.13	1.12	1.05	1.12	1.13	1.22	- -
Price/Tangible Book Value Low	- -	0.89	0.69	0.81	0.89	0.77	1	0.89	0.98	0.3	0.77	0.82	0.81	0.78	- -
Price/Sales	- -	9.8	6.34	11.28	7.53	7.95	8.4	12.9	18.74	7.48	5.09	266.68	13.16	-15.29	- -
Price/Sales Average	- -	9.84	6.02	11.37	8.38	7.18	9.13	14.29	18.82	6.91	5.19	271.17	13.1	-17.48	- -
Price/Sales High	- -	10.76	6.68	12.47	9.15	8.11	9.6	15.38	19.85	9.83	5.68	299.24	15.36	-21.04	- -
Price/Sales Low	- -	8.69	5.51	10.1	7.12	5.64	8.37	12.39	17.35	2.68	4.17	219.49	10.94	-13.53	- -
Price/Cash Flow	- -	-3.58	-2.23	-1.8	16.61	-18.68	-6.79	-16.54	175.92	5.33	-9.45	3.67	7.21	2.37	- -
Price/Cash Flow Average	- -	-3.6	-2.11	-1.81	18.47	-16.86	-7.39	-18.32	176.65	4.92	-9.63	3.73	7.18	2.71	- -
Price/Cash Flow High	- -	-3.93	-2.35	-1.99	20.18	-19.07	-7.77	-19.72	186.32	7	-10.54	4.11	8.42	3.26	- -
Price/Cash Flow Low	- -	-3.17	-1.93	-1.61	15.69	-13.27	-6.78	-15.88	162.9	1.91	-7.74	3.02	6	2.1	- -
Price/Free Cash Flow Average	- -	-3.6	-2.11	-1.81	18.47	-16.86	-7.39	-18.32	176.65	4.92	-9.63	3.73	7.18	2.71	- -
Price/Free Cash Flow High	- -	-3.93	-2.35	-1.99	20.18	-19.07	-7.77	-19.72	186.32	7	-10.54	4.11	8.42	3.26	- -
Price/Free Cash Flow Low	- -	-3.17	-1.93	-1.61	15.69	-13.27	-6.78	-15.88	162.9	1.91	-7.74	3.02	6	2.1	- -
EV/Sales Average	2.05	11.57	7.05	16.51	13.5	11.96	15.3	27.36	38.4	16.44	11.66	578.55	30.33	- -	- -
EV/Sales High	2.05	12.49	7.71	17.61	14.27	12.9	15.76	28.46	39.43	19.36	12.15	606.62	32.59	- -	- -
EV/Sales Low	2.05	10.42	6.54	15.24	12.24	10.43	14.54	25.46	36.94	12.21	10.64	526.86	28.17	- -	- -
EV/EBITDA Average	- -	8.95	8.76	12.39	12.03	13.52	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA High	- -	9.66	9.58	13.22	12.72	14.58	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA Low	- -	8.05	8.12	11.44	10.91	11.79	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Average	- -	8.95	8.76	12.39	12.03	13.52	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	9.66	9.58	13.22	12.72	14.58	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	8.05	8.12	11.44	10.91	11.79	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	- -	14.74	16.78	16.78	13.93	16.9	15.28	13.04	14.05	11.24	13.51	12.94	11.54	8.71	5.47
High Price	- -	16.19	17.7	18.55	16.93	17.25	17.47	15.55	14.88	14.76	15.07	14.52	13.47	11.99	9.48
Enterprise Value Average	18	374	484	968	1,220	1,295	1,587	1,627	1,692	1,432	1,789	1,622	1,537	1,820	974
Enterprise Value High	18	404	530	1,032	1,290	1,397	1,635	1,692	1,737	1,686	1,863	1,700	1,651	1,982	974
Enterprise Value Low	18	337	449	894	1,106	1,129	1,508	1,514	1,628	1,063	1,632	1,477	1,428	1,641	974

	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	21	21	36	49	49	53	59	59	59	58	58	58	58	85	85
Diluted Weighted Avg Shares	21	21	26	39	49	51	57	59	59	58	58	58	58	80	- -
Basic Weighted Avg Shares	21	21	26	39	49	51	57	59	59	58	58	58	58	80	- -
Revenue per Share	0.41	1.5	2.65	1.49	1.85	2.13	1.82	1.01	0.75	1.5	2.66	0.05	0.88	-0.57	- -
EBITDA per Share	- -	1.95	2.13	1.98	2.07	1.88	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	1.95	2.13	1.98	2.07	1.88	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	0.31	1.28	2.45	1.27	1.6	1.87	1.59	0.77	0.52	1.23	2.32	-0.16	0.67	-0.79	- -
Basic EPS from Cont Ops	0.31	1.28	2.45	1.27	1.6	1.87	1.59	0.77	0.52	1.23	2.32	-0.16	0.67	-0.79	- -
Diluted EPS, GAAP	0.31	1.28	2.45	1.27	1.6	1.87	1.59	0.77	0.52	1.23	2.32	-0.16	0.67	-0.79	- -
Diluted EPS from Cont Ops	0.31	1.28	2.45	1.27	1.6	1.87	1.59	0.77	0.52	1.23	2.32	-0.16	0.67	-0.79	- -
Dividend per Share	2.45	1.41	1.62	1.64	1.47	1.45	1.45	1.44	1.44	1.32	1.2	1.22	1.74	1.54	- -
Cash Flow per Share	3.57	-4.12	-7.54	-9.34	0.84	-0.9	-2.25	-0.79	0.08	2.11	-1.43	3.53	1.6	3.68	- -
Free Cash Flow per Basic Share	3.57	-4.12	-7.54	-9.34	0.84	-0.9	-2.25	-0.79	0.08	2.11	-1.43	3.53	1.6	3.68	- -
Cash & Equivalents per Share	0.5	0.84	0.89	0.69	0.73	1.05	1.51	0.47	0.76	0.34	0.34	1.43	1.94	1.15	- -
Book Value per Share	0.63	1.05	0.93	0.56	0.46	0.25	-2.95	-2.88	-3.76	-3.71	-2.37	-3.83	-4.85	-11.87	- -
Tangible Book Value per Share	11.08	14.71	21.2	18.56	14.78	15.52	15.28	14.12	13.21	13.19	14.36	12.93	11.9	9.85	- -

BlackRock TCP Capital Corp.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)