Crescent Capital BDC, Inc. (CCAP) vs Horizon Technology Finance Corporation (HRZN)

Crescent Capital BDC, Inc. and Horizon Technology Finance Corporation are both Asset Management companies. Crescent Capital BDC, Inc. and Horizon Technology Finance Corporation are of similar size ($336.4M and $307.7M). Crescent Capital BDC, Inc. has negative trailing earnings, so its P/E is not meaningful; Horizon Technology Finance Corporation trades at 10.7×. Horizon Technology Finance Corporation grew revenue faster over the last twelve months: −1.07% against −14.6%. Horizon Technology Finance Corporation has the higher net margin (5.27% vs −2.03%) and the higher return on invested capital (16.6% vs 2.58%). Both pay a dividend; Horizon Technology Finance Corporation yields more (17.3% vs 17.1%). Across the 20 metrics below, Horizon Technology Finance Corporation leads on 16 and Crescent Capital BDC, Inc. on 4.

Valuation

Metric CCAP HRZN Asset Management median
P/E n/m 10.73 13.99
P/S 2.10 2.90 2.76
P/B 0.50 0.67 0.85
Price to free cash flow 8.32 2.74 8.32
EV/EBITDA — — —
EV/Sales — — —
Earnings yield (1.01%) 9.32% 4.72%
Free cash flow yield 12.02% 36.46% 4.44%

Profitability

Metric CCAP HRZN Asset Management median
Gross margin 64.03% 100.00% 100.00%
Operating margin 40.82% 94.88% 33.42%
Net margin (2.03%) 5.27% 13.37%
Free cash flow margin 25.23% 105.73% 12.36%
Return on equity (0.46%) 1.45% 4.79%
Return on assets (0.19%) 0.65% 1.55%
Return on invested capital 2.58% 16.64% 2.97%

Growth

Metric CCAP HRZN Asset Management median
Revenue growth (TTM) (14.62%) (1.07%) 7.42%
EPS growth (last fiscal year) (53.27%) 62.50% (6.67%)
Revenue growth, 5-year CAGR 16.75% 15.84% 12.51%
Net income growth, 5-year CAGR (8.79%) 0.00% 0.00%

Health

Metric CCAP HRZN Asset Management median
Debt to equity 1.41 0.00 0.44
Current ratio 1.30 0.21 1.30
Net debt to EBITDA 12.92 (1.12) 1.02

Dividend

Metric CCAP HRZN Asset Management median
Dividend yield 17.06% 17.25% 6.60%
Payout ratio — 2.06 0.94

Size

Metric CCAP HRZN Asset Management median
Market cap 336.40m 307.68m 694.86m

Compare with another peer

Any metric, up to five companies and an Excel export Powerpack