Latest Ratios: P/E Ratio 9.7x · EV/EBITDA N/A · ROE 8.2%. (2012–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $350M | $372M | $414M | $374M | $280M | $325M | $266M | $341M | $294M | $304M | $306M |
| Enterprise Value | $393M | $414M | $443M | $402M | $313M | $341M | $266M | $347M | $296M | $326M | $322M |
| P/E Ratio → | 9.72 | 13.25 | 11.65 | 10.13 | 19.66 | 6.15 | 17.34 | 8.74 | 30.63 | 6.97 | 11.22 |
| P/S Ratio | 10.96 | 12.31 | 9.99 | 9.57 | 10.41 | 5.96 | 16.39 | 8.76 | 26.72 | 7.06 | 11.52 |
| P/B Ratio | 1.02 | 1.09 | 1.21 | 1.10 | 0.85 | 0.96 | 0.87 | 1.11 | 1.01 | 1.00 | 1.09 |
| P/FCF | 70.67 | 20.01 | 14.73 | 11.69 | 71.58 | 114.86 | 10.30 | 17.99 | 7.03 | 20.92 | 11.39 |
| P/OCF | 18.87 | 20.01 | 14.73 | 11.69 | 71.58 | 114.86 | 10.30 | 17.99 | 7.03 | 20.92 | 11.39 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 13.72 | 10.68 | 10.27 | 11.62 | 6.27 | 16.40 | 8.91 | 26.98 | 7.59 | 12.11 |
| EV / EBITDA | — | 15.06 | 11.86 | 11.31 | 20.84 | 3.89 | 10.46 | 14.66 | 11.73 | 12.19 | 13.56 |
| EV / EBIT | 13.66 | 14.40 | 12.13 | 8644.17 | 20.84 | 3.89 | 10.46 | 14.66 | 11.73 | 12.19 | 13.56 |
| EV / FCF | — | 22.31 | 15.75 | 12.54 | 79.95 | 120.82 | 10.30 | 18.30 | 7.10 | 22.48 | 11.97 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 100.0% | 100.0% | 91.4% | 105.3% | 106.3% | 100.0% | 100.0% | 102.7% | 100.0% | 103.5% | 106.0% |
| Operating Margin | 95.3% | 95.3% | 90.5% | 91.0% | 86.5% | 98.1% | 156.9% | 100.3% | 96.9% | 104.8% | 89.3% |
| Net Profit Margin | 93.0% | 93.0% | 85.7% | 94.5% | 52.9% | 97.0% | 94.5% | 100.3% | 87.2% | 101.3% | 102.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.2% | 8.2% | 10.4% | 11.0% | 4.3% | 16.4% | 5.0% | 13.0% | 3.2% | 14.9% | 9.8% |
| ROA | 6.7% | 6.7% | 8.9% | 9.5% | 3.7% | 14.4% | 4.4% | 11.5% | 2.8% | 13.0% | 8.5% |
| ROIC | 5.4% | 5.4% | 7.3% | 7.0% | 4.6% | 11.3% | 5.7% | 8.9% | 2.4% | 10.5% | 5.8% |
| ROCE | 7.1% | 7.1% | 9.6% | 9.3% | 6.1% | 14.9% | 7.5% | 11.7% | 3.2% | 13.9% | 7.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.22 | 0.22 | 0.13 | 0.12 | 0.14 | 0.11 | 0.10 | 0.10 | 0.10 | 0.10 | 0.11 |
| Debt / EBITDA | 2.72 | 2.72 | 1.23 | 1.19 | 3.06 | 0.43 | 1.18 | 1.27 | 1.19 | 1.12 | 1.26 |
| Net Debt / Equity | — | 0.12 | 0.08 | 0.08 | 0.10 | 0.05 | 0.00 | 0.02 | 0.01 | 0.08 | 0.06 |
| Net Debt / EBITDA | 1.55 | 1.55 | 0.77 | 0.77 | 2.18 | 0.19 | 0.01 | 0.25 | 0.11 | 0.85 | 0.66 |
| Debt / FCF | — | 2.29 | 1.02 | 0.86 | 8.36 | 5.96 | 0.01 | 0.31 | 0.07 | 1.57 | 0.58 |
| Interest Coverage | 11.21 | 11.21 | 20.50 | 0.02 | 8.78 | 81.85 | 24.03 | 22.32 | 23.86 | 17.65 | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.19 | 2.19 | 1.99 | 2.71 | 3.19 | 3.68 | 4.09 | 4.10 | 4.80 | 0.87 | 1.92 |
| Quick Ratio | 2.19 | 2.19 | 1.99 | 2.71 | 3.19 | 3.68 | 4.09 | 4.10 | 4.80 | 0.87 | 1.92 |
| Cash Ratio | 2.19 | 2.19 | 1.25 | 1.88 | 2.26 | 3.10 | 3.78 | 3.78 | 4.41 | 0.62 | 1.53 |
| Asset Turnover | — | 0.07 | 0.10 | 0.10 | 0.07 | 0.14 | 0.05 | 0.11 | 0.03 | 0.12 | 0.08 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 10.0% | 9.4% | 7.7% | 7.1% | 7.1% | 6.0% | 7.8% | 7.1% | 8.2% | 7.8% | 7.7% |
| Payout Ratio | 123.9% | 123.9% | 89.6% | 72.4% | 139.2% | 36.8% | 134.7% | 61.9% | 250.3% | 54.7% | 86.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 10.3% | 7.5% | 8.6% | 9.9% | 5.1% | 16.3% | 5.8% | 11.4% | 3.3% | 14.4% | 8.9% |
| FCF Yield | 1.4% | 5.0% | 6.8% | 8.6% | 1.4% | 0.9% | 9.7% | 5.6% | 14.2% | 4.8% | 8.8% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 10.0% | 9.4% | 7.7% | 7.1% | 7.1% | 6.0% | 7.8% | 7.1% | 8.2% | 7.8% | 7.7% |
| Shares Outstanding | — | $20M | $20M | $20M | $20M | $20M | $20M | $20M | $20M | $20M | $20M |
Includes 30+ ratios · 14 years · Updated daily
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Quick answers to the most common questions about buying MCI stock.
Barings Corporate Investors's current P/E ratio is 9.7x. The historical average is 13.0x. This places it at the 43th percentile of its historical range.
Barings Corporate Investors's return on equity (ROE) is 8.2%. The historical average is 10.1%.
Based on historical data, Barings Corporate Investors is trading at a P/E of 9.7x. This is at the 43th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Barings Corporate Investors's current dividend yield is 9.98% with a payout ratio of 123.9%.
Barings Corporate Investors has 100.0% gross margin and 95.3% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Barings Corporate Investors's Debt/EBITDA ratio is 2.7x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
Private credit valuation lag
Premium Valuation Amidst Yield Compression
Based on current market data, MCI trades at a P/B ratio of 1.03, which suggests that investors are paying a slight premium for the fund's private placement access compared to several peers in the closed-end fund sector that currently trade at significant discounts to their net asset value.
The 9.0% dividend yield remains attractive, yet the P/E multiple of 9.95 warrants caution given the decelerating revenue environment. Investors should monitor whether this premium valuation is justified by the quality of the underlying private debt or if it reflects a market mispricing of the fund's structural liquidity constraints.
Capital Efficiency Reflects Structural Constraints
As reported in recent financial statements, MCI's ROIC has trended downward to 1.4% in 2025Q2, indicating that the fund's ability to compound capital is currently constrained by the competitive landscape of the private credit market and the inherent limitations of its investment mandate.
The decline from 1.9% in late 2024 suggests that the fund is struggling to deploy capital into high-yielding opportunities as effectively as in previous periods. This trend warrants further investigation into whether the current origination platform is facing increased competition that is compressing the spreads on new private placements.
Working Capital Volatility Impacts Liquidity
According to historical data, the fund's DSO has fluctuated significantly, reaching 52 days in 2025Q2, which highlights the inherent instability in the timing of cash collections from the private debt portfolio and the resulting impact on the fund's overall working capital efficiency.
The lack of a consistent cash conversion cycle suggests that the fund's liquidity position is sensitive to the payment behaviors of its underlying borrowers. This variability may force the fund to maintain higher cash balances than would otherwise be necessary, potentially dragging on overall portfolio returns.
Conservative Leverage Enhances Risk Mitigation
Based on the latest quarterly filings, MCI maintains a very low debt-to-equity ratio of 0.14, which reflects a conservative capital structure that significantly mitigates refinancing risk compared to more highly levered peers in the closed-end fund sector that often carry ratios exceeding 1.0.
While this low leverage profile provides a buffer against credit market volatility, it may also limit the fund's ability to enhance shareholder yield through debt-financed acquisitions. Investors should consider whether this conservative stance is a strategic choice to preserve capital or a missed opportunity for growth in a stable credit environment.
Misapplication of Traditional P/E Multiples
The most commonly misapplied metric for MCI is the P/E ratio, which obscures the fund's true earning power by failing to account for the unrealized appreciation or depreciation of its Level 3 private assets that do not have transparent, daily market prices.
Analysts should instead focus on the Net Investment Income (NII) coverage of the dividend to assess the sustainability of payouts. Relying on P/E multiples in this context may lead to flawed conclusions regarding the fund's valuation, as it ignores the potential for significant NAV adjustments that are not captured in reported earnings.