(BSTZ) BlackRock Science - Overview
Sector: Financial Services | Industry: Asset Management | Exchange: NYSE (USA) | Market Cap: 1.990m USD | Total Return: 62.9% in 12m
Industry Rotation: +5.0
Avg Turnover: 6.34M
EPS Trend: -73.7%
Rev. Trend: 6.1%
Warnings
Share dilution 100.2% YoY
Tailwinds
No distinct edge detected
BlackRock Science and Technology Trust II (BSTZ) is a closed-end equity fund managed by BlackRock Advisors, LLC. Launched in 2019, the trust focuses on global growth-oriented companies within the science and technology sectors. Its investment mandate spans all market capitalizations, allowing for exposure to both established industry leaders and emerging innovators.
The fund utilizes a closed-end structure, which differs from open-end mutual funds by issuing a fixed number of shares that trade on an exchange, often at a premium or discount to the underlying net asset value. This model allows managers to maintain a stable capital base, which is particularly useful when investing in less liquid private placements or volatile technology sub-sectors. Technology investments frequently emphasize long-term capital appreciation driven by research and development cycles and software-as-a-service (SaaS) recurring revenue models.
Reviewing the historical performance and discount-to-NAV trends on ValueRay can provide deeper insight into this trusts valuation. The trust is domiciled in the United States and operates within the Asset Management and Custody Banks industry.
- Growth equity valuations remain highly sensitive to Federal Reserve interest rate pivots
- Private asset markdowns impact net asset value during periods of market volatility
- Call writing strategy performance fluctuates based on underlying technology sector price volatility
- Global regulatory scrutiny on big tech firms affects core portfolio valuation metrics
- Institutional demand for high-yield distributions drives secondary market premium and discount levels
| Net Income: 586.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.07 > 0.02 and ΔFCF/TA -7.81 > 1.0 |
| NWC/Revenue: 3.98% < 20% (prev 1.95%; Δ 2.03% < -1%) |
| CFO/TA -0.08 > 3% & CFO -139.1m > Net Income 586.6m |
| Net Debt (-12.8m) to EBITDA (586.7m): -0.02 < 3 |
| Current Ratio: 1.82 > 1.5 & < 3 |
| Outstanding Shares: last quarter (68.7m) vs 12m ago 100.2% < -2% |
| Gross Margin: 90.64% > 18% (prev 0.78%; Δ 8.99k% > 0.5%) |
| Asset Turnover: 21.20% > 50% (prev 6.65%; Δ 14.54% > 0%) |
| Interest Coverage Ratio: 100.0k > 6 (EBITDA TTM 586.7m / Interest Expense TTM 352.0) |
| A: 0.01 (Total Current Assets 31.9m - Total Current Liabilities 17.5m) / Total Assets 1.75b |
| B: 0.44 (Retained Earnings 774.4m / Total Assets 1.75b) |
| C: 0.32 (EBIT TTM 552.9m / Avg Total Assets 1.71b) |
| D: 47.69 (Book Value of Equity 1.72b / Total Liabilities 36.0m) |
| Altman-Z'' Score: 53.74 = AAA |
Over the past week, the price has changed by +0.20%, over one month by +15.62%, over three months by +25.20% and over the past year by +62.90%.
| Analysts Target Price | - | - |
P/S = 6.0822
P/B = 1.1198
Revenue TTM = 361.5m USD
EBIT TTM = 552.9m USD
EBITDA TTM = 586.7m USD
Long Term Debt = unknown (0.0)
Short Term Debt = 17.5m USD (from shortTermDebt, last quarter)
Debt = 17.5m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -12.8m USD (recalculated: Debt 17.5m - CCE 30.3m)
Enterprise Value = 1.98b USD (1.99b + Debt 17.5m - CCE 30.3m)
Interest Coverage Ratio = 1.57m (Ebit TTM 552.9m / Interest Expense TTM 352.0)
EV/FCF = -15.64x (Enterprise Value 1.98b / FCF TTM -126.5m)
FCF Yield = -6.40% (FCF TTM -126.5m / Enterprise Value 1.98b)
FCF Margin = -34.98% (FCF TTM -126.5m / Revenue TTM 361.5m)
Net Margin = 162.3% (Net Income TTM 586.6m / Revenue TTM 361.5m)
Gross Margin = 90.64% ((Revenue TTM 361.5m - Cost of Revenue TTM 33.8m) / Revenue TTM)
Gross Margin QoQ = 92.21% (prev 92.32%)
Tobins Q-Ratio = 1.13 (Enterprise Value 1.98b / Total Assets 1.75b)
Interest Expense / Debt = 0.00% (Interest Expense 352.0 / Debt 17.5m)
Taxrate = 21.0% (US default 21%)
NOPAT = 436.8m (EBIT 552.9m * (1 - 21.00%))
Current Ratio = 1.82 (Total Current Assets 31.9m / Total Current Liabilities 17.5m)
Debt / Equity = 0.01 (Debt 17.5m / totalStockholderEquity, last quarter 1.72b)
Debt / EBITDA = -0.02 (Net Debt -12.8m / EBITDA 586.7m)
Debt / FCF = 0.10 (negative FCF - burning cash) (Net Debt -12.8m / FCF TTM -126.5m)
Total Stockholder Equity = 1.59b (last 4 quarters mean from totalStockholderEquity)
RoA = 34.40% (Net Income 586.6m / Total Assets 1.75b)
RoE = 36.89% (Net Income TTM 586.6m / Total Stockholder Equity 1.59b)
RoCE = 34.77% (EBIT 552.9m / Capital Employed (Equity 1.59b + L.T.Debt 0.0))
RoIC = 34.88% (NOPAT 436.8m / Invested Capital 1.25b)
WACC = 10.94% (E(1.99b)/V(2.01b) * Re(11.04%) + D(17.5m)/V(2.01b) * Rd(0.00%) * (1-Tc(0.21)))
Discount Rate = 11.04% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 41.49%
[DCF] Fair Price = unknown (Cash Flow -126.5m)
EPS Correlation: -73.67 | EPS CAGR: -45.99% | SUE: N/A | # QB: 0
Revenue Correlation: 6.05 | Revenue CAGR: -20.16% | SUE: N/A | # QB: 0