(PFLT) PennantPark Floating Rate - Overview
Stock: Floating Rate Loans, Senior Secured Debt, Mezzanine Investments, Middle-Market
| Risk 5d forecast | |
|---|---|
| Volatility | 27.9% |
| Relative Tail Risk | 4.06% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.71 |
| Alpha | -24.09 |
| Character TTM | |
|---|---|
| Beta | 0.678 |
| Beta Downside | 0.764 |
| Drawdowns 3y | |
|---|---|
| Max DD | 20.85% |
| CAGR/Max DD | 0.15 |
EPS (Earnings per Share)
Revenue
Description: PFLT PennantPark Floating Rate January 20, 2026
PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) is a Business Development Company (BDC) that focuses on floating-rate debt and related equity-linked securities in U.S. middle-market companies, with limited exposure to non-U.S. issuers.
Typical transaction sizes range from $2 million to $20 million for direct investments and $10 million to $50 million for senior secured and mezzanine loans. The fund targets companies that are either unrated or would fall between BB and CCC on the S&P scale, emphasizing thinly-traded or low-cap public firms and private entities.
Portfolio construction is heavily weighted toward floating-rate assets: the BDC aims to keep at least 80 % of net assets (plus any borrowing) in floating-rate loans or cash equivalents, with roughly 65 % of the portfolio in senior secured loans. Non-qualifying assets-such as high-yield bonds, distressed debt, and larger public equities-are capped at 30 %.
Key market drivers include the current U.S. interest-rate environment, which benefits floating-rate structures by resetting coupon payments upward as rates rise, and the persistent demand for capital in the U.S. middle-market, where traditional bank lending has tightened.
Recent performance metrics (as of Q4 2024) show a distribution yield near 9 % and a net asset value (NAV) per share of $11.45, with a leverage ratio of 1.5 × net assets, both in line with industry averages for BDCs focused on senior secured loans.
Given the fund’s exposure to credit-sensitive, lower-rated issuers, investors should monitor default rates in the BB-CCC segment and the spread between floating-rate loan yields and the 3-month LIBOR (or SOFR) benchmark.
For a deeper dive into the fund’s credit metrics and valuation, see the ValueRay analysis.
Piotroski VR‑10 (Strict, 0-10) 5.0
| Net Income: 34.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA 40.02 > 1.0 |
| NWC/Revenue: -68.89% < 20% (prev 63.49%; Δ -132.4% < -1%) |
| CFO/TA -0.01 > 3% & CFO -40.7m > Net Income 34.5m |
| Net Debt (144.7m) to EBITDA (63.2m): 2.29 < 3 |
| Current Ratio: 0.29 > 1.5 & < 3 |
| Outstanding Shares: last quarter (99.2m) vs 12m ago 21.50% < -2% |
| Gross Margin: 55.40% > 18% (prev 0.63%; Δ 5477 % > 0.5%) |
| Asset Turnover: 7.55% > 50% (prev 8.39%; Δ -0.84% > 0%) |
| Interest Coverage Ratio: 0.64 > 6 (EBITDA TTM 63.2m / Interest Expense TTM 98.0m) |
Altman Z'' -0.48
| A: -0.05 (Total Current Assets 53.2m - Total Current Liabilities 184.8m) / Total Assets 2.72b |
| B: -0.07 (Retained Earnings -179.2m / Total Assets 2.72b) |
| C: 0.02 (EBIT TTM 63.2m / Avg Total Assets 2.53b) |
| D: -0.11 (Book Value of Equity -179.1m / Total Liabilities 1.68b) |
| Altman-Z'' Score: -0.48 = B |
What is the price of PFLT shares?
Over the past week, the price has changed by -8.48%, over one month by -9.52%, over three months by -3.18% and over the past year by -12.75%.
Is PFLT a buy, sell or hold?
- StrongBuy: 2
- Buy: 2
- Hold: 4
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the PFLT price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 10.8 | 25% |
| Analysts Target Price | 10.8 | 25% |
| ValueRay Target Price | 10 | 16.3% |
PFLT Fundamental Data Overview February 12, 2026
P/E Forward = 8.0
P/S = 3.4537
P/B = 0.8678
P/EG = 0.266
Revenue TTM = 191.1m USD
EBIT TTM = 63.2m USD
EBITDA TTM = 63.2m USD
Long Term Debt = unknown (0.0)
Short Term Debt = 184.8m USD (from shortTermDebt, last quarter)
Debt = 184.8m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 144.7m USD (from netDebt column, last quarter)
Enterprise Value = 1.05b USD (902.9m + Debt 184.8m - CCE 40.1m)
Interest Coverage Ratio = 0.64 (Ebit TTM 63.2m / Interest Expense TTM 98.0m)
EV/FCF = 10.50x (Enterprise Value 1.05b / FCF TTM 99.7m)
FCF Yield = 9.52% (FCF TTM 99.7m / Enterprise Value 1.05b)
FCF Margin = 52.18% (FCF TTM 99.7m / Revenue TTM 191.1m)
Net Margin = 18.03% (Net Income TTM 34.5m / Revenue TTM 191.1m)
Gross Margin = 55.40% ((Revenue TTM 191.1m - Cost of Revenue TTM 85.2m) / Revenue TTM)
Gross Margin QoQ = 79.91% (prev 44.64%)
Tobins Q-Ratio = 0.39 (Enterprise Value 1.05b / Total Assets 2.72b)
Interest Expense / Debt = 14.69% (Interest Expense 27.2m / Debt 184.8m)
Taxrate = 1.68% (1.13m / 67.5m)
NOPAT = 62.1m (EBIT 63.2m * (1 - 1.68%))
Current Ratio = 0.29 (Total Current Assets 53.2m / Total Current Liabilities 184.8m)
Debt / Equity = 0.18 (Debt 184.8m / totalStockholderEquity, last quarter 1.04b)
Debt / EBITDA = 2.29 (Net Debt 144.7m / EBITDA 63.2m)
Debt / FCF = 1.45 (Net Debt 144.7m / FCF TTM 99.7m)
Total Stockholder Equity = 1.07b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.36% (Net Income 34.5m / Total Assets 2.72b)
RoE = 3.23% (Net Income TTM 34.5m / Total Stockholder Equity 1.07b)
RoCE = 5.92% (EBIT 63.2m / Capital Employed (Equity 1.07b + L.T.Debt 0.0))
RoIC = 2.38% (NOPAT 62.1m / Invested Capital 2.61b)
WACC = 9.44% (E(902.9m)/V(1.09b) * Re(8.41%) + D(184.8m)/V(1.09b) * Rd(14.69%) * (1-Tc(0.02)))
Discount Rate = 8.41% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 29.97%
[DCF Debug] Terminal Value 64.01% ; FCFF base≈99.7m ; Y1≈65.5m ; Y5≈29.9m
Fair Price DCF = 3.26 (EV 468.0m - Net Debt 144.7m = Equity 323.4m / Shares 99.2m; r=9.44% [WACC]; 5y FCF grow -40.0% → 2.90% )
EPS Correlation: -32.00 | EPS CAGR: -1.89% | SUE: -0.76 | # QB: 0
Revenue Correlation: 61.81 | Revenue CAGR: 43.12% | SUE: 0.04 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.29 | Chg30d=-0.003 | Revisions Net=+1 | Analysts=7
EPS current Year (2026-09-30): EPS=1.11 | Chg30d=-0.080 | Revisions Net=+2 | Growth EPS=-4.3% | Growth Revenue=+5.9%
EPS next Year (2027-09-30): EPS=1.17 | Chg30d=-0.014 | Revisions Net=+2 | Growth EPS=+5.0% | Growth Revenue=+2.6%