Latest Ratios: P/E Ratio 6.9x · EV/EBITDA 10.8x · ROE 9.3%. (2008–2025 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 | $642M | $843M | $879M | $820M | $719M | $779M | $740M | $871M | $811M | $854M | $880M |
| Enterprise Value | $1.8B | $2.0B | $1.5B | $1.7B | $1.4B | $1.3B | $1.0B | $1.0B | $1.1B | $1.2B | $955M |
| P/E Ratio → | 6.92 | 9.09 | 9.18 | 10.74 | 39.74 | 13.07 | 47.32 | 15.50 | 12.15 | 12.10 | 8.23 |
| P/S Ratio | 4.22 | 5.54 | 8.37 | 9.47 | 25.39 | 11.20 | 31.35 | 13.13 | 10.63 | 10.41 | 7.51 |
| P/B Ratio | 0.64 | 0.85 | 0.89 | 0.83 | 0.72 | 0.92 | 0.87 | 0.96 | 0.68 | 0.65 | 0.89 |
| P/FCF | — | — | 5.63 | — | 7.89 | — | — | 4.67 | 4.25 | — | 5.94 |
| P/OCF | — | — | 5.63 | — | 7.89 | — | — | 4.67 | 4.25 | — | 5.94 |
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 | — | 12.97 | 14.26 | 19.11 | 48.62 | 18.24 | 43.33 | 15.41 | 14.12 | 15.14 | 8.16 |
| EV / EBITDA | 10.84 | 12.07 | 15.63 | 21.65 | 75.05 | 21.29 | 66.19 | 18.25 | 16.11 | 17.64 | 8.94 |
| EV / EBIT | 11.05 | 12.30 | 15.63 | 21.65 | 75.05 | 21.29 | 66.19 | 18.25 | 16.11 | 17.64 | 8.94 |
| EV / FCF | — | — | 9.59 | — | 15.12 | — | — | 5.47 | 5.64 | — | 6.45 |
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 | 73.3% | 73.3% | 59.5% | 54.4% | 38.1% | 69.9% | 46.5% | 69.7% | 75.5% | 79.1% | 82.7% |
| Operating Margin | 72.9% | 72.9% | 54.3% | 48.0% | 24.7% | 59.9% | 30.4% | 58.8% | 66.2% | 67.9% | 75.4% |
| Net Profit Margin | 42.0% | 42.0% | 54.3% | 48.0% | 24.7% | 59.9% | 30.4% | 58.8% | 66.2% | 67.9% | 75.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.3% | 9.3% | 9.7% | 7.7% | 2.0% | 7.0% | 1.8% | 5.4% | 5.4% | 6.1% | 11.4% |
| ROA | 3.7% | 3.7% | 3.9% | 3.0% | 0.8% | 3.0% | 0.8% | 3.1% | 4.0% | 4.3% | 6.5% |
| ROIC | 5.8% | 5.8% | 3.4% | 2.7% | 0.7% | 2.8% | 0.8% | 2.7% | 2.9% | 3.3% | 5.9% |
| ROCE | 7.1% | 7.1% | 4.5% | 3.6% | 1.0% | 3.7% | 1.0% | 3.8% | 4.9% | 5.2% | 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 | 1.15 | 1.15 | 1.04 | 1.19 | 1.09 | 0.96 | 0.79 | 0.65 | 0.40 | 0.41 | 0.39 |
| Debt / EBITDA | 7.01 | 7.01 | 10.77 | 15.42 | 59.21 | 13.63 | 43.46 | 10.48 | 7.08 | 7.66 | 3.63 |
| Net Debt / Equity | — | 1.14 | 0.62 | 0.84 | 0.66 | 0.58 | 0.33 | 0.17 | 0.22 | 0.30 | 0.08 |
| Net Debt / EBITDA | 6.91 | 6.91 | 6.45 | 10.91 | 35.86 | 8.21 | 18.29 | 2.69 | 3.98 | 5.52 | 0.70 |
| Debt / FCF | — | — | 3.95 | — | 7.22 | — | — | 0.81 | 1.39 | — | 0.51 |
| Interest Coverage | 2.36 | 2.36 | 1.34 | 1.05 | 0.40 | 1.99 | 0.57 | 1.94 | 2.70 | 3.25 | 4.35 |
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 | 0.31 | 0.31 | 1.09 | 1.09 | 1.04 | 1.00 | 1.01 | 1.03 | 0.83 | 0.54 | 0.04 |
| Quick Ratio | 0.31 | 0.31 | 1.09 | 1.09 | 1.04 | 1.00 | 1.01 | 1.03 | 0.83 | 0.54 | 0.04 |
| Cash Ratio | 0.18 | 0.18 | 1.02 | 1.01 | 0.99 | 0.94 | 0.97 | 0.99 | 0.76 | 0.51 | 1.15 |
| Asset Turnover | — | 0.09 | 0.07 | 0.06 | 0.03 | 0.05 | 0.03 | 0.05 | 0.06 | 0.06 | 0.09 |
| 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 | 13.9% | 10.6% | 10.2% | 11.8% | 13.2% | 8.9% | 9.4% | 8.0% | 8.5% | 7.9% | 7.7% |
| Payout Ratio | 96.7% | 96.7% | — | — | 515.4% | 116.4% | 448.6% | 123.7% | 102.7% | 95.6% | 63.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 14.4% | 11.0% | 10.9% | 9.3% | 2.5% | 7.7% | 2.1% | 6.5% | 8.2% | 8.3% | 12.2% |
| FCF Yield | — | — | 17.8% | — | 12.7% | — | — | 21.4% | 23.6% | — | 16.8% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.4% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.4% |
| Total Shareholder Yield | 13.9% | 10.6% | 10.2% | 11.8% | 13.6% | 8.9% | 9.4% | 8.0% | 8.5% | 7.9% | 8.1% |
| Shares Outstanding | — | $55M | $54M | $55M | $52M | $42M | $42M | $42M | $42M | $42M | $42M |
Includes 30+ ratios · 18 years · Updated daily
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Quick answers to the most common questions about buying SLRC stock.
SLR Investment Corp.'s current P/E ratio is 6.9x. The historical average is 17.7x. This places it at the 6th percentile of its historical range.
SLR Investment Corp.'s current EV/EBITDA is 10.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 24.0x.
SLR Investment Corp.'s return on equity (ROE) is 9.3%. The historical average is 4.7%.
Based on historical data, SLR Investment Corp. is trading at a P/E of 6.9x. This is at the 6th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
SLR Investment Corp.'s current dividend yield is 13.93% with a payout ratio of 96.7%.
SLR Investment Corp. has 73.3% gross margin and 72.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
SLR Investment Corp.'s Debt/EBITDA ratio is 7.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Leverage and credit quality
Metrics are mathematically derived from official filings.
Discount Reflecting Complexity
SLRC trades at 0.71x book value, a discount to peers like ARCC at 0.99x, implying the market prices its multi-silo model with skepticism despite a 12.6% dividend yield.
The P/B of 0.71x is below the peer median of approximately 0.77x, suggesting investors apply a complexity discount to SLRC's diverse lending segments. At this multiple, the market appears to imply a lower return on tangible equity than the current 9.3% ROE, possibly due to concerns about asset quality and NIM compression. The high dividend yield of 12.6% may be compensating for perceived risk, but it also signals that the market expects stable distributions, which could be at risk if NII remains negative.
ROE Stability Masks NIM Erosion
ROE has remained near 2% quarterly, but NIM turned negative at -0.7% in 2026Q2, indicating that asset yields are not covering funding costs, as per reported figures.
The DuPont decomposition reveals that ROE stability is increasingly reliant on non-interest income, which accounted for 100% of revenue in 2026Q2, up from 16.8% in 2025Q4. This shift suggests that core lending profitability is weakening, and the negative NIM in 2026Q2 is a critical red flag. If NIM remains negative, ROE will likely decline, and the current dividend coverage may become unsustainable.
NIM Compression and Fee Reliance
Net interest margin contracted from 1.1% in 2024Q1 to -0.7% in 2026Q2, while the efficiency ratio appears artificially low due to negative NII, according to quarterly data.
The NIM trend indicates that asset yields are not keeping pace with funding costs, a concern given the floating-rate nature of the portfolio. The reported efficiency ratio below 8% is misleading because it is distorted by the negative NII in 2026Q2; excluding that, operating expenses appear well-controlled. However, the heavy reliance on fee income in 2026Q2 (100% of revenue) suggests that the core lending model is under pressure, and investors should monitor whether this is a temporary shift or a structural change.
Leverage Near Upper Bound
Debt-to-equity of 1.15x reported in recent filings suggests SLRC is operating near the upper end of its target leverage range, limiting flexibility for new originations.
With equity stable near $990M and total assets flat at $2.6B, the leverage ratio indicates that the balance sheet is adequately capitalized but with limited headroom. The equity-to-assets ratio has declined slightly from 0.41 to 0.38 over the past year, reflecting modest deleveraging. If credit quality deteriorates, the current capital buffer may be insufficient to absorb losses without cutting the dividend or raising equity, which would be dilutive.
Reserve Releases Boost Earnings
Negative provisions in 2026Q1 and 2026Q2 released $7.9M in reserves, inflating net income despite weak operating performance, as per financial statements.
The provision reversals suggest either improving credit conditions or a reduction in portfolio size, but they also raise questions about the adequacy of reserves going forward. If the portfolio is not shrinking, the releases may indicate that management is comfortable with credit quality, but the negative NIM and cautious CEO commentary on market uncertainties warrant close monitoring. Investors should watch for any uptick in non-accruals, which would signal that the reserve releases were premature.
P/E Misleading for BDCs
The P/E ratio of 7.67x is commonly misapplied to BDCs because it is distorted by provision volatility and non-cash items like PIK interest, obscuring true earnings power.
For SLRC, the P/E is particularly unreliable given the negative NII in 2026Q2 and the reliance on fee income. A more appropriate metric is P/B, which at 0.71x reflects the market's view of the net asset value and credit quality. Additionally, investors should adjust for PIK interest and Level 3 fair value marks to assess cash-based earnings, as these can inflate reported net income without corresponding cash flows. Using P/E alone could lead to an overvaluation of the stock if earnings quality is poor.