Barings Participation Investors (MPV) 10-Year Financial Performance & Capital Metrics

MPV • • Banking & Credit

Financial ServicesAsset ManagementTraditional Asset ManagementGlobal Diversified Asset Managers

AboutBarings Participation Investors is a closed ended fixed income mutual fund launched and managed by Barings LLC. The fund invests in the fixed income markets of the United States. It primarily invests in below-investment grade, long-term corporate debt obligations which are directly purchased from its issuers. The fund also seeks to invest in warrants, conversion rights, or other equity related instruments. It benchmarks the performance of its portfolio against Standard and Poor's Industrials Composite, Russell 2000 Index, Lehman Brothers U.S. High Yield Index, and Lehman Brothers Intermediate U.S. Credit Index. The fund was formerly known as Babson Capital Participation Investors. Barings Participation Investors was formed on April 7, 1988 and is domiciled in the United States.Show more

Net Interest Income $17M -7.8%
Total Revenue $20M +0.9%
Net Income $17M -4.8%
Return on Equity 10.5% -6.6%
Net Interest Margin 8.73% -10.5%
Efficiency Ratio 5.46% +2.7%
ROA 8.92% -7.3%
Equity / Assets 84.15% -1.9%
Book Value per Share 15.46 +0.3%
Tangible BV/Share 15.46 +0.3%
Debt/Equity 0.14 +7.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong NIM of 8.7%
✓Efficient operations: 5.5% efficiency ratio
✓Well capitalized: 84.2% equity/assets
✓Trading at only 1.2x book value

✗Weaknesses

✗Weak Piotroski F-Score: 3/9

Price & Volume

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Growth Metrics

Revenue CAGR

10Y4.3%

5Y1.78%

3Y-8.43%

TTM-

Profit (Net Income) CAGR

10Y0.44%

5Y-0.64%

3Y-12.09%

TTM13.85%

EPS CAGR

10Y0.12%

5Y-0.84%

3Y-12.16%

TTM13.25%

ROCE

10Y Avg7.88%

5Y Avg7.71%

3Y Avg8.56%

Latest9.81%

Peer Comparison

Global Diversified Asset Managers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
SIISprott Inc.	2.97B	115.19	60.31	19.02%	29.28%	14.59%	2.27%
EMBJEmbraer S.A.	13.36B	73.93	38.51	21.38%	5.51%	10.43%	3.03%	0.78
BENFranklin Resources, Inc.	13.54B	25.97	28.54	3.45%	5.98%	3.61%	6.73%	0.94
BLKBlackRock, Inc.	179.4B	1156.65	27.53	14.27%	31.21%	9.86%	2.62%	0.29
IVZInvesco Ltd.	13.08B	29.39	24.91	6.13%	12.77%	6.75%	8.57%	0.48
SEICSEI Investments Company	10.6B	86.54	19.62	10.7%	27.35%	28.87%	5.34%	0.01
JHGJanus Henderson Group plc	7.15B	47.89	18.71	17.67%	16.53%	9.41%	9.57%	0.10
STTState Street Corporation	38.07B	136.29	16.60	19.64%	12.23%	10.78%		1.45

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	0	0	11.84M	12.59M	12.32M	12.17M	11M	12.76M	18.59M	17.14M
NII Growth %	-	-	-	0.06%	-0.02%	-0.01%	-0.1%	0.16%	0.46%	-0.08%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	613.5K	613.5K	12.46M	13.2M	12.93M	12.79M	11.62M	13.78M	19.84M	18.66M
Interest Expense	0	0	613.5K	613.5K	613.5K	613.5K	622.86K	1.01M	1.25M	1.52M
Loan Loss Provision	0	0	1.04M	1.06M	1.08M	1.03M	1.22M	862.72K	922.08K	0
Non-Interest Income+	11.86M	12.2M	7.5M	-8.6M	5.66M	412.82K	14.82M	278.81K	275.26K	1.64M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	12.47M	12.81M	19.96M	4.61M	18.59M	13.2M	26.45M	14.05M	20.12M	20.3M
Revenue Growth %	-0.06%	0.03%	0.56%	-0.77%	3.04%	-0.29%	1%	-0.47%	0.43%	0.01%
Non-Interest Expense	3.3M	557.63K	823.76K	965.61K	780.77K	1.95M	2.24M	2.36M	1.07M	1.11M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	10.38M	10.94M	19.75M	4.25M	17.81M	11.24M	10.06M	11.7M	17.56M	18.45M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.08%	0.05%	0.81%	-0.78%	3.19%	-0.37%	-0.11%	0.16%	0.5%	0.05%
Pretax Income+	8.56M	11.64M	19.14M	3.64M	17.81M	6.35M	25.63M	7.34M	18.56M	17.67M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	0	0	21.99M	0	0	0	247.15K	377.85K	441.37K	425.2K
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	8.56M	11.64M	19.14M	3.64M	17.81M	6.35M	25.38M	6.96M	18.12M	17.25M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.48%	0.36%	0.64%	-0.81%	3.89%	-0.64%	3%	-0.73%	1.6%	-0.05%
Net Income (Continuing)	8.56M	11.64M	19.14M	3.64M	17.81M	6.35M	25.38M	6.96M	18.12M	17.25M
EPS (Diluted)+	0.83	1.12	1.84	0.35	1.69	0.60	2.39	0.66	1.71	1.62
EPS Growth %	-0.48%	0.35%	0.64%	-0.81%	3.83%	-0.64%	2.98%	-0.72%	1.59%	-0.05%
EPS (Basic)	0.83	1.12	1.84	0.35	1.69	0.60	2.39	0.66	1.71	1.62
Diluted Shares Outstanding	10.33M	10.39M	10.4M	10.4M	10.54M	10.6M	10.6M	10.6M	10.6M	10.68M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	0	0	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	6.68M	4.2M	5.77M	16.44M	13.12M	12.64M	11.62M	4.88M	6.49M	7M
Short Term Investments	0	0	0	0	0	1000K	0	0	0	0
Total Investments+	33.11M	36.73M	36.3M	141.18M	150.63M	148.48M	173.1M	178.35M	1.51M	8.71M
Investments Growth %	-0.31%	0.11%	-0.01%	2.89%	0.07%	-0.01%	0.17%	0.03%	-0.99%	4.75%
Long-Term Investments	33.11M	36.73M	36.3M	141.18M	150.63M	148.48M	173.1M	178.35M	1.51M	8.71M
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
PP&E (Net)	0	0	0	0	0	0	0	0	0	0
Other Assets	113.31M	112.99M	123.02M	-141.18M	-150.63M	-148.48M	300.15K	262.93K	179.29M	175.4M
Total Current Assets	8.3M	6.1M	7.07M	0	0	0	13.58M	7.51M	9.67M	12.11M
Total Non-Current Assets	146.42M	149.72M	159.33M	0	0	0	173.4M	178.61M	180.8M	184.1M
Total Assets+	154.71M	155.82M	166.39M	158.8M	164.83M	163.21M	186.98M	186.12M	190.48M	196.21M
Asset Growth %	-0.02%	0.01%	0.07%	-0.05%	0.04%	-0.01%	0.15%	-0%	0.02%	0.03%
Return on Assets (ROA)	0.05%	0.07%	0.12%	0.02%	0.11%	0.04%	0.14%	0.04%	0.1%	0.09%
Accounts Payable	0	0	0	3.81M	2.89M	3.58M	3.06M	2.59M	3.94M	6.61M
Total Debt+	15M	15M	15M	0	0	15M	21M	23.5M	21.57M	23.36M
Net Debt	8.32M	10.8M	9.23M	-16.44M	-13.12M	-12.64M	9.38M	18.62M	15.09M	16.36M
Long-Term Debt	15M	15M	15M	0	0	15M	21M	23.5M	21.57M	23.36M
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Other Liabilities	509.09K	415.01K	769.71K	0	0	0	1.84M	1.1M	1.6M	1.12M
Total Current Liabilities	3.86M	3.8M	5.14M	0	0	4.03M	3.06M	2.59M	3.94M	6.61M
Total Non-Current Liabilities	15.51M	15.42M	15.77M	0	0	15M	22.84M	24.6M	23.17M	24.48M
Total Liabilities	19.36M	19.22M	20.91M	20.06M	18.74M	19.03M	25.9M	27.2M	27.11M	31.09M
Total Equity+	135.35M	136.61M	145.48M	138.75M	146.08M	144.18M	161.08M	158.92M	163.37M	165.12M
Equity Growth %	-0.02%	0.01%	0.06%	-0.05%	0.05%	-0.01%	0.12%	-0.01%	0.03%	0.01%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.06%	0.09%	0.14%	0.03%	0.13%	0.04%	0.17%	0.04%	0.11%	0.11%
Book Value per Share	13.10	13.15	13.99	13.34	13.86	13.60	15.19	14.99	15.41	15.46
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	103.28K	103.86K	104.58K	105.27K	105.87K	106.02K	106.02K	106.02K	106.02K	106.8K
Additional Paid-in Capital	95.25M	94.91M	94.49M	141.46M	142.02M	142.11M	145.01M	144.61M	144.17M	144.48M
Retained Earnings	39.99M	41.59M	50.89M	-2.81M	3.95M	1.96M	15.96M	14.21M	19.09M	20.54M
Accumulated OCI	1	0	0	0	0	0	0	0	0	0
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	10.99M	7.89M	11.82M	21.02M	7.15M	8.51M	1.51M	-553.81K	15.86M	12.91M
Operating CF Growth %	0.64%	-0.28%	0.5%	0.78%	-0.66%	0.19%	-0.82%	-1.37%	29.64%	-0.19%
Net Income	8.56M	11.64M	19.14M	3.64M	17.81M	6.35M	25.38M	6.96M	18.12M	17.25M
Depreciation & Amortization	0	0	0	0	0	0	0	0	-25.77K	-74.77K
Deferred Taxes	0	0	354.7K	-769.71K	0	0	224.32K	159.05K	0	0
Other Non-Cash Items	-874.37K	-64.22K	-9.6M	18.12M	-9.45M	2.15M	-24.85M	-5.41M	-1.52M	-3.34M
Working Capital Changes	3.31M	-3.69M	2.28M	-743.98K	-1.22M	11.91K	751.2K	-2.27M	-713.2K	-917K
Cash from Investing+	0	0	-9.6M	18.12M	-9.45M	2.15M	-24.62M	-5.25M	-1.44M	-3.83M
Purchase of Investments	0	0	-9.6M	0	-9.45M	0	-24.62M	-5.25M	-1.44M	-3.83M
Sale/Maturity of Investments	0	0	0	1000K	1000K	1000K	1000K	0	0	0
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	0	0	0	0	0	0	0	0
Other Investing	0	0	0	0	-9.45M	0	-24.62M	0	4	-193
Cash from Financing+	-10.77M	-10.37M	-10.24M	-10.35M	-10.46M	-8.99M	-2.54M	-6.18M	-14.26M	-12.4M
Dividends Paid	-11.14M	-11.18M	-11.25M	-11.32M	-11.39M	-9.22M	-8.48M	-8.69M	-12.51M	-15.42M
Share Repurchases	0	0	0	0	0	0	0	0	0	0
Stock Issued	0	0	1M	971.51K	933.68K	227.53K	0	0	0	1.23M
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	0	0	0	0	0	0	1000K	1000K	-1000K	1000K
Other Financing	368.73K	806.97K	1M	971.51K	933.68K	0	-54.27K	10.84K	0	35K
Net Change in Cash+	223.16K	-2.48M	1.57M	10.66M	-3.32M	-481.34K	-1.02M	-6.74M	1.6M	513.24K
Exchange Rate Effect	0	0	0	0	1000K	-1000K	1000K	-463	176	-545
Cash at Beginning	6.46M	6.68M	4.2M	5.77M	16.44M	13.12M	12.64M	11.62M	4.88M	6.49M
Cash at End	6.68M	4.2M	5.77M	16.44M	13.12M	12.64M	11.62M	4.88M	6.49M	7M
Interest Paid	0	0	0	0	0	0	0	0	0	0
Income Taxes Paid	0	0	0	0	0	0	0	0	0	0
Free Cash Flow+	10.99M	7.89M	11.82M	21.02M	7.15M	8.51M	1.51M	-553.81K	15.86M	12.91M
FCF Growth %	0.64%	-0.28%	0.5%	0.78%	-0.66%	0.19%	-0.82%	-1.37%	29.64%	-0.19%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	6.27%	8.56%	13.57%	2.56%	12.51%	4.37%	16.63%	4.35%	11.24%	10.5%
Return on Assets (ROA)	5.48%	7.5%	11.88%	2.24%	11.01%	3.87%	14.5%	3.73%	9.62%	8.92%
Net Interest Margin	0%	0%	7.12%	7.93%	7.47%	7.46%	5.88%	6.86%	9.76%	8.73%
Efficiency Ratio	26.47%	4.35%	4.13%	20.97%	4.2%	14.81%	8.47%	16.77%	5.32%	5.46%
Equity / Assets	87.48%	87.67%	87.43%	87.37%	88.63%	88.34%	86.15%	85.39%	85.77%	84.15%
Book Value / Share	13.1	13.15	13.99	13.34	13.86	13.6	15.19	14.99	15.41	15.46
NII Growth	-	-	-	6.28%	-2.14%	-1.18%	-9.62%	16.01%	45.68%	-7.83%
Dividend Payout	130.16%	96%	58.77%	311.12%	63.98%	145.21%	33.41%	124.89%	69.04%	89.38%

Frequently Asked Questions

Valuation & Price

Barings Participation Investors (MPV) has a price-to-earnings (P/E) ratio of 11.7x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Barings Participation Investors (MPV) grew revenue by 0.9% over the past year. Growth has been modest.

Yes, Barings Participation Investors (MPV) is profitable, generating $32.8M in net income for fiscal year 2024 (84.9% net margin).

Dividend & Returns

Yes, Barings Participation Investors (MPV) pays a dividend with a yield of 7.60%. This makes it attractive for income-focused investors.

Barings Participation Investors (MPV) has a return on equity (ROE) of 10.5%. This is reasonable for most industries.

Industry Metrics

Barings Participation Investors (MPV) has a net interest margin (NIM) of 8.7%. This indicates healthy earnings from lending activities.

Barings Participation Investors (MPV) has an efficiency ratio of 5.5%. This is excellent, indicating strong cost control.

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