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PennantPark Investment Corporation

PNNT Financial Asset Management

PennantPark Investment Corporation’s revenue for fiscal 2025 (year ended September 2025) was $122.4 million, down 14.9% from fiscal 2024.

Revenue
−16.2%
EPS
−41.7%
Free cash flow
−2.70%
Total debt
−12.9%

Quarter to June 2026, against a year earlier

3.39 0.13 +3.99%
Market cap
$212.9M
P/E
20.9×
Fwd P/E
9.6×
Dividend yield
12.3%
F-score
4/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 3.26%

Capital & Financial Ratios $m

Size
Market Cap 212.87
Revenue ttm 104.91
Net income ttm 10.13
Free cash flow ttm 113.21
Net debt Q 536.39
Valuation
P/E 20.94
Forward P/E 9.63
Price / sales 2.02
Forward P/S Powerpack
Price / FCF 1.87
Price / book 0.50
Financial health
Current ratio Q 0.18
Debt / equity Q 1.28
Interest coverage Q 2.03
Growth
Revenue growth Q −16.21% (below 0%: shrinking)
Operating income growth Q −27.28% (below 0%: shrinking)
EPS, this year −24.12% (below 0%: weak)
EPS, next year A +4.18%
Revenue, next year A −16.98% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A −16.05% (below 0%: weak)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 86.09%
10-year low 10-year high
P/S against its own 10 years 4.00%
10-year low 10-year high
P/B against its own 10 years 7.37%
10-year low 10-year high

Dividends raised 4 years running

Yield
12.3%
Annual rate
0.40
Payout ratio
257.7%
Growth, 2017–25
+3.66%/yr
  1. 0.72 ’17
  2. 0.72 ’18 +0
  3. 0.72 ’19 +0
  4. 0.54 ’20 −25
  5. 0.48 ’21 −11
  6. 0.60 ’22 +25
  7. 0.81 ’23 +34
  8. 0.91 ’24 +13
  9. 0.96 ’25 +5
  10. 0.92 ’26e −4
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 39 50 52 12
Receivables 12 11 10 38
Inventory — — — —
Other — — — —
55 61 62 50
2023 2024 2025 Q'26
Payables 106 107 136 7
ST’ Debt — — — —
Other — — — 269
135 120 145 285

Compound Annual Growth %

10y 5y 3y
Sales (2.74%) 4.07% 5.25%
Cash Flow 42.58% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value (4.25%) (2.47%) (7.47%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.14 Actual 0.14

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.17 0.15 Miss by 0.02
Q1 FY25 0.16 0.11 Miss by 0.05
Q2 FY26 0.14 0.14 Met by 0.00
Q3 FY26 0.14 0.14 Met by 0.00
Q4 FY26 0.14 — Reports 23 November 2026

EPS $

Dec Mar Jun Sep Year
’26 0.14 (0.04) 0.07 — —
’25 0.25 0.14 0.12 (0.01) 0.50
’24 0.16 0.25 0.06 0.28 0.75
’23 (1.10) 0.07 0.32 0.19 (0.52)
’22 0.38 0.05 (0.28) (0.52) (0.37)
’21 1.06 0.57 0.48 0.38 2.49
’20 0.29 (0.90) 0.23 0.14 (0.24)
Fiscal quarters ending in the months shown.

Revenue $m

Dec Mar Jun Sep Year
’26 27 25 25 — —
’25 34 31 30 28 122
’24 34 36 37 36 144
’23 30 36 45 34 145
’22 28 24 23 29 105
’21 19 19 20 23 82
’20 26 28 25 21 100
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Dec Mar Jun Sep Year
’26 135 36 50 — —
’25 19 142 51 (108) 105
’24 (155) 4 (17) (5) (172)
’23 (10) 70 55 107 223
’22 (177) 267 (187) 80 (17)
’21 35 12 49 (88) 8
’20 (71) (147) 63 27 (130)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Dec Mar Jun Sep Year
’26 135 36 50 — —
’25 19 142 51 (108) 105
’24 (155) 4 (17) (5) (172)
’23 (10) 70 55 107 223
’22 (177) 267 (187) 80 (17)
’21 35 12 49 (88) 8
’20 (71) (147) 63 27 (130)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to September

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 142 125 108 112 100 82 105 145 144 122 105 (1.6%) 102 102 102 (6.0%)
Gross margin, % 71.23 71.66 73.25 79.15 76.84 78.05 78.58 79.05 79.56 78.80 80.01 +7.6 pt
EBT 19 62 48 16 (16) 167 (25) (34) 49 33 10 +6.4%
EBT margin, % 13.19 49.55 44.07 14.21 (15.93) 204.22 (23.57) (23.26) 33.97 26.74 9.66 +13.6 pt
Net income 19 62 48 16 (16) 167 (25) (34) 49 33 10 +6.4%
Per share, $
Per share, $ Revenue 1.98 1.75 1.53 1.66 1.49 1.22 1.58 2.23 2.20 1.87 1.61 (0.6%)
Earnings 0.26 0.87 0.68 0.24 (0.24) 2.49 (0.37) (0.52) 0.75 0.50 0.16 +7.5%
Cash flow 2.20 0.97 0.95 (1.20) (1.93) 0.12 (0.26) 3.42 (2.64) 1.60 1.73 (3.5%)
Capex 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 n/m
Free cash flow 2.20 0.97 0.95 (1.20) (1.93) 0.12 (0.26) 3.42 (2.64) 1.60 1.73 (3.5%)
Book value 8.98 9.10 8.90 8.59 7.84 9.85 8.84 7.70 7.57 7.11 6.56 (2.6%)
Shares, m 72 71 71 68 67 67 66 65 65 65 65 (1.0%)
Valuation, ×
Valuation, × P/E 28.37 8.77 11.01 26.13 0.00 2.61 0.00 0.00 9.30 13.55 20.94 10.0
P/S 3.79 4.30 4.89 3.79 2.13 5.33 3.45 2.89 3.17 3.58 2.02 3.7
P/B 0.84 0.83 0.84 0.73 0.41 0.66 0.62 0.84 0.92 0.94 0.50 0.8
EV/Sales 7.20 8.22 9.37 9.36 7.55 12.53 9.64 6.18 8.19 9.37 — 8.8
EV/FCF 6.48 14.78 15.15 (12.93) (5.84) 129.25 (58.49) 4.03 (6.83) 10.94 — 9.7
Cash, $m
Cash, $m Operating cash flow 158 69 67 (81) (130) 8 (17) 223 (172) 105 113 (4.4%)
Capex — — — — — — — — — — — —
Free cash flow 158 69 67 (81) (130) 8 (17) 223 (172) 105 113 (4.4%)
Balance, $m
Balance, $m Working capital 49 19 1 46 12 0 35 (79) (59) (83) (235) n/m
Net debt 484 488 485 624 543 587 650 478 722 687 536 +4.0%
Shareholders’ equity 643 647 629 582 526 660 586 502 494 464 428 (3.6%)
Returns, %
Returns, % ROA 1.44 5.06 4.04 1.30 (1.33) 13.83 (1.89) (2.73) 3.84 2.39 0.81 +1.0 pt
ROIC 4.05 3.42 2.99 2.85 2.46 1.86 2.52 4.45 3.22 2.66 2.65 (1.4) pt
ROE 2.76 9.57 7.48 2.63 (2.88) 28.10 (3.97) (6.22) 9.81 6.83 2.23 +4.1 pt
People
People Employees — — — — — — — — — — — —
Revenue/emp, $m 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Sep 2025 · latest quarter Jun 2026

PennantPark Investment Corporation vs peers in Asset Management (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
HRZN Horizon Technology Finance Corporation $265.5M — (loss-making) — (loss-making) +2.14% (above 0%: growing) n/m −97.72% (below 0%: shrinking) 100.00% 93.70% Compare
RWAY Runway Growth Finance Corp. $256.5M 41.1× 16.6× +10.39% (above 0%: growing) +18.18% (above 0%: growing) +62.58% (above 0%: growing) 100.00% 71.90% Compare
PNNT PennantPark Investment Corporation $212.9M 20.9× 9.6× −16.21% (below 0%: shrinking) −41.67% (below 0%: shrinking) −2.70% (below 0%: shrinking) 78.27% 72.21%
LIEN Chicago Atlantic BDC, Inc. $207.4M 6.5× 6.5× +6.81% (above 0%: growing) −28.95% (below 0%: shrinking) +1,591.22% (above 0%: growing) 100.00% 61.95% Compare
SCM Stellus Capital Investment Corporation $205.6M 7.1× 6.1× −13.21% (below 0%: shrinking) +55.56% (above 0%: growing) +41.00% (above 0%: growing) 100.00% 72.26% Compare
SAR Saratoga Investment Corp $200.7M — (loss-making) 108× +1.77% (above 0%: growing) n/m −43.85% (below 0%: shrinking) 100.00% 68.55% Compare
TPVG TriplePoint Venture Growth BDC Corp. $181.6M 4.7× 5.2× −10.96% (below 0%: shrinking) −25.00% (below 0%: shrinking) +184.88% (above 0%: growing) 100.00% 0.00% Compare
WHF WhiteHorse Finance, Inc. $177.0M 10.4× 8.3× −23.72% (below 0%: shrinking) +380.00% (above 0%: growing) −159.82% (below 0%: shrinking) 100.00% 66.34% Compare
WHG Westwood Holdings Group Inc $175.5M 22.0× — (loss-making) +9.40% (above 0%: growing) −18.18% (below 0%: shrinking) −29.81% (below 0%: shrinking) 100.00% 5.20% Compare
Median of peers $203.2M 8.8× 7.4× +1.95% 0.00% +5.60% 100.00% 67.45%

All 121 Asset Management stocks →

Pay and ownership Proxy statement filed 17 December 2025

Ownership

Directors and executive officers, together 3.00%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

PennantPark Investment Corporation (PNNT) Latest News

28 Oct

Impact 3 · · Zacks

11 Aug

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10 Aug

Impact 4 ·
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8 May

Impact 4 · · The Motley Fool transcript
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7 May

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28 Mar

Impact 4 · · 24/7 Wall St.

24 Mar

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11 Feb

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10 Feb

Impact 3 · · GuruFocus.com
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9 Feb

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Impact 3 ·
Impact 3 · · Associated Press FinanceMT NewswiresSimply Wall St.MT NewswiresZacksAssociated Press FinanceAssociated Press FinanceAssociated Press Finance
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27 Dec

Impact 4 · · Insider Monkey

15 Dec

Impact 4 · · GlobeNewswire

25 Nov

Impact 3 · · GuruFocus.com transcript

24 Nov

Impact 3 · · Zacks
Impact 3 ·
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3 Oct

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13 Aug

Impact 3 · transcript
stockrow.com/PNNT · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com