Fidus Investment Corporation (FDUS) vs MidCap Financial Investment Corporation (MFIC)

Fidus Investment Corporation and MidCap Financial Investment Corporation are both Asset Management companies. Fidus Investment Corporation and MidCap Financial Investment Corporation are of similar size ($759.2M and $731.1M). MidCap Financial Investment Corporation has negative trailing earnings, so its P/E is not meaningful; Fidus Investment Corporation trades at 9.2×. Fidus Investment Corporation grew revenue faster over the last twelve months: 11.9% against −7.17%. Fidus Investment Corporation has the higher net margin (45.4% vs −9.85%) and the lower return on invested capital (5.23% vs 5.78%). Both pay a dividend; MidCap Financial Investment Corporation yields more (11.1% vs 8.57%). Across the 20 metrics below, Fidus Investment Corporation leads on 11 and MidCap Financial Investment Corporation on 9.

Valuation

Metric FDUS MFIC Asset Management median
P/E 9.16 n/m 14.62
P/S 4.26 2.44 2.97
P/B 0.98 0.67 0.94
Price to free cash flow n/m 1.38 8.93
EV/EBITDA 7.90 6.54 10.32
EV/Sales 5.72 8.07 5.72
Earnings yield 10.91% (4.05%) 4.53%
Free cash flow yield (29.07%) 72.49% 4.65%

Profitability

Metric FDUS MFIC Asset Management median
Gross margin 100.00% 100.00% 100.00%
Operating margin 70.64% 86.02% 33.03%
Net margin 45.36% (9.85%) 13.53%
Free cash flow margin (123.96%) 176.54% 12.44%
Return on equity 10.81% (2.39%) 4.83%
Return on assets 5.60% (0.94%) 1.57%
Return on invested capital 5.23% 5.78% 3.04%

Growth

Metric FDUS MFIC Asset Management median
Revenue growth (TTM) 11.90% (7.17%) 6.97%
EPS growth (last fiscal year) (3.33%) (46.46%) —
Revenue growth, 5-year CAGR 12.86% 8.16% 12.13%
Net income growth, 5-year CAGR 21.42% (10.80%) 0.00%

Health

Metric FDUS MFIC Asset Management median
Debt to equity 0.39 1.58 0.42
Current ratio 0.09 3.78 1.28
Net debt to EBITDA 1.36 6.41 1.06

Dividend

Metric FDUS MFIC Asset Management median
Dividend yield 8.57% 11.11% 6.92%
Payout ratio 1.18 0.97 0.77

Size

Metric FDUS MFIC Asset Management median
Market cap 759.22m 731.06m 721.34m

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