Fidus Investment Corporation (FDUS) vs PennantPark Floating Rate Capital Ltd. (PFLT)

Fidus Investment Corporation and PennantPark Floating Rate Capital Ltd. are both Asset Management companies. Fidus Investment Corporation and PennantPark Floating Rate Capital Ltd. are of similar size ($759.2M and $698.5M). Fidus Investment Corporation trades at the lower P/E: 9.2× against 13.7×. Fidus Investment Corporation grew revenue faster over the last twelve months: 11.9% against 9.33%. Fidus Investment Corporation has the higher net margin (45.4% vs 18.5%) and the higher return on invested capital (5.23% vs 3.51%). Both pay a dividend; PennantPark Floating Rate Capital Ltd. yields more (10.8% vs 8.57%). Across the 21 metrics below, PennantPark Floating Rate Capital Ltd. leads on 11 and Fidus Investment Corporation on 10.

Valuation

Metric FDUS PFLT Asset Management median
P/E 9.16 13.71 14.62
P/S 4.26 2.56 2.97
P/B 0.98 0.68 0.94
Price to free cash flow n/m n/m 8.93
EV/EBITDA 7.90 5.62 10.32
EV/Sales 5.72 5.72 5.72
Earnings yield 10.91% 7.30% 4.53%
Free cash flow yield (29.07%) (8.42%) 4.65%

Profitability

Metric FDUS PFLT Asset Management median
Gross margin 100.00% 100.00% 100.00%
Operating margin 70.64% 76.57% 33.03%
Net margin 45.36% 18.53% 13.53%
Free cash flow margin (123.96%) (21.54%) 12.44%
Return on equity 10.81% 4.77% 4.83%
Return on assets 5.60% 1.95% 1.57%
Return on invested capital 5.23% 3.51% 3.04%

Growth

Metric FDUS PFLT Asset Management median
Revenue growth (TTM) 11.90% 9.33% 6.97%
EPS growth (last fiscal year) (3.33%) (48.57%) —
Revenue growth, 5-year CAGR 12.86% 22.32% 12.13%
Net income growth, 5-year CAGR 21.42% 29.23% 0.00%

Health

Metric FDUS PFLT Asset Management median
Debt to equity 0.39 0.94 0.42
Current ratio 0.09 0.19 1.28
Net debt to EBITDA 1.36 3.46 1.06

Dividend

Metric FDUS PFLT Asset Management median
Dividend yield 8.57% 10.75% 6.92%
Payout ratio 1.18 14.25 0.77

Size

Metric FDUS PFLT Asset Management median
Market cap 759.22m 698.50m 721.34m

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