PennantPark Floating Rate Capital Ltd. (PFLT) Financial Ratios
14 years of historical data (2012–2025) · Financial Services · Asset Management
EV/EBITDA
↑
35.50
↓-20% vs avg
5yr avg: 44.21
30Y Low7.9·High57.2
P/FCF
↓
7.81
+4% vs avg
5yr avg: 7.49
30Y Low3.9·High10.0
P/B Ratio
↓
0.64
↓-24% vs avg
5yr avg: 0.84
30Y Low0.5·High1.0
ROE
↓
6.8%
-10% vs avg
5yr avg: 7.6%
30Y Low1%·High12%
Debt/EBITDA
↑
26.32
↓-8% vs avg
5yr avg: 28.70
30Y Low1.8·High34.7
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
PFLT Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
PennantPark Floating Rate Capital Ltd. trades at 10.4x earnings, 67% below its 5-year average of 31.5x, sitting at the 31st percentile of its historical range. Compared to the Financial Services sector median P/E of 13.6x, the stock trades at a discount of 24%. On a free-cash-flow basis, the stock trades at 7.8x P/FCF, roughly in line with the 5-year average of 7.5x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $742M | $823M | $760M | $542M | $394M | $496M | $327M | $450M | $504M | $438M | $354M |
| Enterprise Value | $2.4B | $2.5B | $1.8B | $937M | $1.0B | $1.1B | $923M | $746M | $567M | $419M | $325M |
| P/E Ratio → | 10.39 | 12.35 | 8.26 | 13.84 | 114.15 | 8.76 | 17.96 | — | 15.11 | 12.07 | 10.58 |
| P/S Ratio | 4.33 | 4.80 | 4.53 | 6.75 | 9.53 | 5.93 | 6.57 | 10.59 | 7.87 | 8.90 | 8.29 |
| P/B Ratio | 0.64 | 0.77 | 0.87 | 0.83 | 0.75 | 1.01 | 0.69 | 0.89 | 0.94 | 0.96 | 0.94 |
| P/FCF | 7.81 | 8.66 | — | 3.86 | — | 9.96 | — | — | — | — | — |
| P/OCF | 7.81 | 8.66 | — | 3.86 | — | 9.96 | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
PFLT EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
PennantPark Floating Rate Capital Ltd.'s enterprise value stands at 35.5x EBITDA, 20% below its 5-year average of 44.2x. The Financial Services sector median is 11.4x, placing the stock at a 212% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 14.44 | 10.88 | 11.66 | 24.55 | 13.15 | 18.54 | 17.56 | 8.86 | 8.52 | 7.61 |
| EV / EBITDA | 35.50 | 36.69 | 19.64 | 24.83 | 120.59 | 19.30 | 49.06 | 21.97 | 11.65 | 9.33 | 8.45 |
| EV / EBIT | 35.50 | 36.69 | 19.64 | 24.83 | 120.59 | 19.30 | 49.06 | 21.97 | 11.65 | 9.33 | 8.45 |
| EV / FCF | — | 26.06 | — | 6.66 | — | 22.06 | — | — | — | — | — |
PFLT Profitability
Margins and return-on-capital ratios measuring operating efficiency
PennantPark Floating Rate Capital Ltd. earns an operating margin of 39.4%, significantly above the Financial Services sector average of 20.3%. Operating margins have compressed from 47.0% to 39.4% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 6.8% is modest, trailing the sector median of 9.0%. ROIC of 2.1% represents below-average returns on invested capital versus a sector median of 5.5%.
Margins
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 | 45.6% | 45.6% | 64.7% | 52.5% | 28.1% | 74.1% | 45.6% | 46.9% | 77.6% | 83.1% | 88.5% |
| Operating Margin | 39.4% | 39.4% | 55.4% | 47.0% | 20.4% | 68.1% | 37.8% | 26.9% | 53.6% | 74.4% | 78.5% |
| Net Profit Margin | 38.7% | 38.7% | 54.7% | 48.9% | 8.3% | 67.6% | 37.0% | 26.9% | 52.3% | 73.7% | 78.5% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 6.8% | 6.8% | 12.0% | 6.7% | 0.7% | 11.7% | 3.8% | 2.2% | 6.7% | 8.7% | 8.9% |
| ROA | 2.6% | 2.6% | 5.6% | 3.3% | 0.3% | 4.9% | 1.6% | 1.0% | 3.7% | 5.3% | 6.4% |
| ROIC | 2.1% | 2.1% | 4.4% | 2.4% | 0.5% | 3.8% | 1.4% | 1.1% | 4.6% | 6.6% | 6.5% |
| ROCE | 2.7% | 2.7% | 5.8% | 3.2% | 0.7% | 5.0% | 1.9% | 1.5% | 6.1% | 8.8% | 8.6% |
PFLT Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
PennantPark Floating Rate Capital Ltd. carries a Debt/EBITDA ratio of 26.3x, which is highly leveraged (518% above the sector average of 4.3x). Net debt stands at $1.7B ($1.8B total debt minus $123M cash). Interest coverage of just 0.7x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.65 | 1.65 | 1.34 | 0.76 | 1.28 | 1.33 | 1.37 | 0.71 | 0.25 | — | — |
| Debt / EBITDA | 26.32 | 26.32 | 12.67 | 13.13 | 79.89 | 11.47 | 34.72 | 10.59 | 2.79 | — | — |
| Net Debt / Equity | — | 1.54 | 1.21 | 0.60 | 1.18 | 1.23 | 1.25 | 0.59 | 0.12 | -0.04 | -0.08 |
| Net Debt / EBITDA | 24.51 | 24.51 | 11.46 | 10.46 | 73.78 | 10.59 | 31.66 | 8.72 | 1.30 | -0.42 | -0.75 |
| Debt / FCF | — | 17.40 | — | 2.81 | — | 12.11 | — | — | — | — | — |
| Interest Coverage | 0.72 | 0.72 | 1.57 | 0.99 | 0.28 | 2.63 | 0.69 | 1.51 | 3.39 | 5.39 | 7.80 |
PFLT Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
PennantPark Floating Rate Capital Ltd.'s current ratio of 2.94x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has declined from 5.40x to 2.94x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.94 | 2.94 | 2.78 | 5.40 | 5.07 | 3.93 | 5.54 | 0.24 | 0.19 | 0.13 | 0.13 |
| Quick Ratio | 2.94 | 2.94 | 2.78 | 5.40 | 5.07 | 3.93 | 5.54 | 0.24 | 0.19 | 0.13 | 0.13 |
| Cash Ratio | 2.65 | 2.65 | 2.49 | 4.83 | 4.13 | 2.20 | 5.19 | 0.22 | 0.18 | 0.07 | 0.11 |
| Asset Turnover | — | 0.06 | 0.08 | 0.07 | 0.03 | 0.07 | 0.04 | 0.04 | 0.06 | 0.07 | 0.07 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
PFLT Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
PennantPark Floating Rate Capital Ltd. returns 16.1% to shareholders annually primarily through dividends. The payout ratio exceeds 100% at 168.1%, meaning the company is paying out more than it earns — this level is unsustainable long-term without earnings recovery. The earnings yield of 9.6% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
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 | 16.1% | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 168.1% | 168.1% | 85.8% | 149.6% | 1334.1% | 78.2% | 240.0% | 387.2% | 128.3% | 94.4% | 91.0% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 9.6% | 8.1% | 12.1% | 7.2% | 0.9% | 11.4% | 5.6% | — | 6.6% | 8.3% | 9.4% |
| FCF Yield | 12.8% | 11.6% | — | 25.9% | — | 10.0% | — | — | — | — | — |
| Buyback Yield | 0.0% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 16.1% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $93M | $66M | $51M | $41M | $39M | $39M | $39M | $38M | $30M | $27M |
Peer Comparison
Compare PFLT with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 PFLTYou | $742M | 10.4 | 35.5 | 7.8 | 45.6% | 39.4% | 6.8% | 2.1% | 26.3 |
 ARCC | $13B | 9.7 | 12.8 | 11.3 | 75.7% | 69.7% | 9.4% | 5.7% | 7.3 |
 GBDC | $3B | 8.7 | 11.8 | — | 81.5% | 78.9% | 9.4% | 5.9% | 7.1 |
 TPVG | $203M | 4.1 | 8.6 | — | 83.5% | 77.9% | 14.1% | 7.2% | 6.2 |
 SLRC | $678M | 7.3 | 11.1 | — | 73.3% | 72.9% | 9.3% | 5.8% | 7.0 |
 PNNT | $225M | 6.9 | 25.8 | 3.4 | 50.3% | 42.5% | 6.8% | 2.1% | 20.9 |
 CGBD | $761M | 10.8 | 12.8 | — | 70.9% | 86.2% | 6.8% | 5.6% | 8.7 |
 FSK | $3B | 261.3 | 13.6 | 4.9 | 69.6% | 49.5% | 0.2% | 3.2% | 10.1 |
 BBDC | $868M | 8.5 | 11.7 | 5.4 | 74.0% | 85.2% | 8.7% | 6.1% | 7.5 |
 HTGC | $3B | 8.4 | 14.1 | — | 87.2% | 66.7% | 16.2% | 6.6% | 6.3 |
 MAIN | $5B | 9.2 | 13.6 | 13.6 | 100.0% | 80.7% | 17.0% | 7.5% | 4.7 |
| Financial Services Median | — | 13.6 | 11.4 | 11.1 | 64.1% | 20.3% | 9.0% | 5.5% | 4.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 14 years · Updated daily
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PFLT — Frequently Asked Questions
Quick answers to the most common questions about buying PFLT stock.
What is PennantPark Floating Rate Capital Ltd.'s P/E ratio?
PennantPark Floating Rate Capital Ltd.'s current P/E ratio is 10.4x. The historical average is 19.8x. This places it at the 31th percentile of its historical range.
What is PennantPark Floating Rate Capital Ltd.'s EV/EBITDA?
PennantPark Floating Rate Capital Ltd.'s current EV/EBITDA is 35.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 22.7x.
What is PennantPark Floating Rate Capital Ltd.'s ROE?
PennantPark Floating Rate Capital Ltd.'s return on equity (ROE) is 6.8%. The historical average is 7.3%.
Is PFLT stock overvalued?
Based on historical data, PennantPark Floating Rate Capital Ltd. is trading at a P/E of 10.4x. This is at the 31th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is PennantPark Floating Rate Capital Ltd.'s dividend yield?
PennantPark Floating Rate Capital Ltd.'s current dividend yield is 16.12% with a payout ratio of 168.1%.
What are PennantPark Floating Rate Capital Ltd.'s profit margins?
PennantPark Floating Rate Capital Ltd. has 45.6% gross margin and 39.4% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does PennantPark Floating Rate Capital Ltd. have?
PennantPark Floating Rate Capital Ltd.'s Debt/EBITDA ratio is 26.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.