Source Capital, Inc. (SOR) 10-Year Financial Performance & Capital Metrics

SOR • • Banking & Credit

Financial ServicesAsset ManagementTraditional Asset ManagementGlobal Diversified Asset Managers

AboutSource Capital, Inc. is a close-ended balanced fund launched and managed by First Pacific Advisors, LLC. The fund invests in the public equity markets of the United States. It seeks to invest in the stocks of companies operating across diversified sectors. The fund primarily invests in value stocks of small to mid cap companies. It employs fundamental analysis with a bottom-up stock selection approach, focusing on such factors as high liquidity, relatively unleveraged balance sheets, and long-term ability to earn above-average returns on capital to create its portfolio. The fund benchmarks the performance of its portfolio against the Russell 2500 Index, the S&P 500 Index, and the Nasdaq Composite Index. Source Capital, Inc. was formed in June 1, 1968 and is domiciled in the United States.Show more

Net Interest Income $15M +4.6%
Total Revenue $40M +31.3%
Net Income $39M -27.0%
Return on Equity 10.92% -29.2%
Net Interest Margin 3.93%
Efficiency Ratio 2.64% -75.1%
ROA 10.55% -31.1%
Equity / Assets 94.07% -5.3%
Book Value per Share 43.57 -0.2%
Tangible BV/Share 43.57 -0.2%
Debt/Equity -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong NIM of 3.9%
✓Efficient operations: 2.6% efficiency ratio
✓Well capitalized: 94.1% equity/assets
✓Diversified revenue: 62.9% from non-interest income
✓Trading near 52-week high
✓Trading at only 1.1x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y19.94%

5Y-9.64%

3Y-1.71%

TTM-

Profit (Net Income) CAGR

10Y-8.25%

5Y-9.83%

3Y-1.9%

TTM36.87%

EPS CAGR

10Y-7.74%

5Y-9.19%

3Y-1.16%

TTM38.45%

ROCE

10Y Avg4.93%

5Y Avg4.9%

3Y Avg2.71%

Latest10.9%

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	3.83M	4.19M	4.12M	6.37M	7.78M	9.52M	14.26M	14.92M
NII Growth %	-	-	-	0.09%	-0.02%	0.54%	0.22%	0.22%	0.5%	0.05%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	0	0	3.83M	4.19M	4.12M	6.37M	7.78M	9.52M	14.26M	14.92M
Interest Expense	0	24.39M	0	0	0	0	0	0	0	0
Loan Loss Provision	5.07M	-21.31M	0	3.04M	2.95M	2.88M	0	2.89M	2.94M	0
Non-Interest Income+	5.93M	7.12M	45.78M	-31.09M	62.66M	16.72M	34.58M	7.46M	16.38M	25.3M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	5.93M	7.12M	49.61M	-26.91M	66.78M	23.08M	42.36M	16.98M	30.64M	40.22M
Revenue Growth %	-0.09%	0.2%	5.97%	-1.54%	3.48%	-0.65%	0.84%	-0.6%	0.8%	0.31%
Non-Interest Expense	35.1M	20.75M	894.32K	862.2K	1.07M	3.54M	877.24K	3.34M	3.24M	1.06M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	172.51K	3.48M	48.71M	-27.77M	65.71M	21.28M	41.48M	-26.84M	16.32M	39.16M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.86%	19.18%	12.99%	-1.57%	3.37%	-0.68%	0.95%	-1.65%	1.61%	1.4%
Pretax Income+	-29.16M	27.87M	48.71M	-27.77M	65.71M	21.17M	41.48M	-27.09M	53.64M	39.16M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	0	0	48.71M	0	0	0	0	0	0	0
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	-29.16M	27.87M	48.71M	-27.77M	65.71M	21.17M	41.48M	-27.09M	53.64M	39.16M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-1.31%	1.96%	0.75%	-1.57%	3.37%	-0.68%	0.96%	-1.65%	2.98%	-0.27%
Net Income (Continuing)	-29.16M	27.87M	48.71M	-27.77M	65.71M	21.17M	41.48M	-27.09M	53.64M	39.16M
EPS (Diluted)+	-3.37	3.23	5.67	-3.24	7.74	2.51	4.95	-3.24	6.50	4.78
EPS Growth %	-1.31%	1.96%	0.76%	-1.57%	3.39%	-0.68%	0.97%	-1.65%	3.01%	-0.26%
EPS (Basic)	-3.37	3.23	5.67	-3.24	7.74	2.51	4.95	-3.24	6.50	4.78
Diluted Shares Outstanding	8.66M	8.64M	8.59M	8.57M	8.49M	8.42M	8.38M	8.36M	8.25M	8.19M

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+	682	0	173	261	86.56K	235.66K	1000K	1000K	351.89K	3.67K
Cash & Due from Banks	682	0	173	261	86.56K	235.66K	2.12M	2.59M	351.89K	3.67K
Short Term Investments	0	0	0	0	0	0	1000K	1000K	0	0
Total Investments+	608.3M	332.89M	387.74M	324.16M	382.99M	387.21M	406.28M	358.98M	358.82M	375.2M
Investments Growth %	-0.1%	-0.45%	0.16%	-0.16%	0.18%	0.01%	0.05%	-0.12%	-0%	0.05%
Long-Term Investments	608.3M	332.89M	387.74M	324.16M	382.99M	387.21M	386.87M	333.17M	358.82M	375.2M
Accounts Receivables	1000K	776.42K	1000K	0	0	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	-608.3M	-332.89M	-387.74M	-324.16M	0	0	0	0	0	49.9M
Total Current Assets	29.86M	24.72M	1.47M	1.66M	3.07M	3.26M	2.02M	4.28M	4.75M	4.46M
Total Non-Current Assets	608.3M	332.89M	387.74M	324.16M	382.99M	387.21M	386.87M	333.17M	358.82M	425.1M
Total Assets+	638.16M	357.61M	389.21M	325.82M	386.07M	390.46M	388.9M	337.54M	362.97M	379.44M
Asset Growth %	-0.08%	-0.44%	0.09%	-0.16%	0.18%	0.01%	-0%	-0.13%	0.08%	0.05%
Return on Assets (ROA)	-0.04%	0.06%	0.13%	-0.08%	0.18%	0.05%	0.11%	-0.07%	0.15%	0.11%
Accounts Payable	5.11M	1.79M	523.35K	3.43M	8.9M	5.59M	5.63M	2.28M	2.14M	22.04M
Total Debt+	0	0	0	0	0	0	0	19.94K	0	0
Net Debt	-682	0	-173	-261	-86.56K	-235.66K	-2.12M	-2.57M	-351.89K	-3.67K
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Short-Term Debt	0	0	0	0	0	0	0	19.94K	0	0
Other Liabilities	0	326.61K	0	0	0	69.95K	479.32K	19.94K	12K	446.5K
Total Current Liabilities	5.71M	2.16M	523.35K	3.43M	8.9M	5.59M	5.63M	2.28M	2.14M	22.04M
Total Non-Current Liabilities	371.49K	326.61K	523.35K	3.43M	9.36M	69.95K	479.32K	19.94K	12K	446.5K
Total Liabilities	5.71M	2.16M	941.92K	3.95M	8.9M	8.52M	6.11M	2.71M	2.55M	22.48M
Total Equity+	632.45M	355.33M	388.26M	321.87M	376.71M	381.95M	382.8M	334.83M	360.41M	356.96M
Equity Growth %	-0.09%	-0.44%	0.09%	-0.17%	0.17%	0.01%	0%	-0.13%	0.08%	-0.01%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	-0.04%	0.06%	0.13%	-0.08%	0.19%	0.06%	0.11%	-0.08%	0.15%	0.11%
Book Value per Share	73.07	41.12	45.19	37.56	44.37	45.35	45.70	40.05	43.68	43.57
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	8.66M	8.64M	8.62M	8.55M	8.48M	8.42M	8.38M	8.31M	313.07M	312.48M
Additional Paid-in Capital	320.78M	320.73M	319.89M	317.37M	315.06M	313.14M	311.07M	308.79M	47.35M	0
Retained Earnings	303.02M	25.96M	3.92M	-4.05M	53.17M	60.39M	63.35M	17.73M	47.35M	44.48M
Accumulated OCI	4.15M	0	0	-4.05M	53.17M	0	0	0	47.35M	0
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	0	0	0	4.05M	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+	-29.16M	27.87M	48.71M	-27.77M	65.71M	0	0	0	0	0
Operating CF Growth %	-1.31%	1.96%	0.75%	-1.57%	3.37%	-1%	-	-	-	-
Net Income	-29.16M	27.87M	48.71M	-27.77M	65.71M	21.17M	41.48M	-27.09M	53.64M	39.16M
Depreciation & Amortization	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	29.16M	-27.87M	-48.71M	27.77M	1.35M	-21.17M	-41.48M	27.09M	-53.64M	-39.16M
Working Capital Changes	-4.44M	4.58M	-707.34K	-160.81K	-1.35M	0	0	0	0	0
Cash from Investing+	0	0	0	0	0	0	0	0	0	0
Purchase of Investments	0	0	0	0	0	0	0	0	0	0
Sale/Maturity of Investments	0	0	0	0	0	0	0	0	0	0
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	0	0	0	0	0	0	0	0
Other Investing	0	0	0	0	0	0	0	0	0	0
Cash from Financing+	-34.62M	-304.99M	-15.78M	-38.63M	0	0	0	0	0	0
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	-537.21K	-861.45K	-2.59M	0	0	0	0	0	0
Stock Issued	0	0	0	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	0	0	0	0	0	0	0	0	0	0
Other Financing	-34.62M	471.03K	-15.78M	0	0	0	0	0	0	0
Net Change in Cash+	-63.78M	-277.12M	32.93M	91	86.33K	149.1K	1.89M	472.07K	0	0
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	220	680	30	170	261	86.59K	235.69K	2.12M	0	0
Cash at End	-63.78M	-277.12M	32.93M	261	86.59K	235.69K	2.12M	2.59M	0	0
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+	-29.16M	27.87M	48.71M	-27.77M	65.71M	0	0	0	0	0
FCF Growth %	-1.31%	1.96%	0.75%	-1.57%	3.37%	-1%	-	-	-	-

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-4.39%	5.64%	13.1%	-7.82%	18.81%	5.58%	10.85%	-7.55%	15.43%	10.92%
Return on Assets (ROA)	-4.37%	5.6%	13.05%	-7.77%	18.46%	5.45%	10.65%	-7.46%	15.31%	10.55%
Net Interest Margin	0%	0%	0.98%	1.28%	1.07%	1.63%	2%	2.82%	3.93%	3.93%
Efficiency Ratio	591.46%	291.35%	1.8%	-3.2%	1.61%	15.34%	2.07%	19.65%	10.58%	2.64%
Equity / Assets	99.11%	99.36%	99.76%	98.79%	97.58%	97.82%	98.43%	99.2%	99.3%	94.07%
Book Value / Share	73.07	41.12	45.19	37.56	44.37	45.35	45.7	40.05	43.68	43.57
NII Growth	-	-	-	9.37%	-1.51%	54.44%	22.14%	22.39%	49.88%	4.58%

Frequently Asked Questions

Valuation & Price

Source Capital, Inc. (SOR) has a price-to-earnings (P/E) ratio of 10.1x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Source Capital, Inc. (SOR) grew revenue by 31.3% over the past year. This is strong growth.

Yes, Source Capital, Inc. (SOR) is profitable, generating $77.8M in net income for fiscal year 2024 (97.4% net margin).

Dividend & Returns

Source Capital, Inc. (SOR) has a return on equity (ROE) of 10.9%. This is reasonable for most industries.

Industry Metrics

Source Capital, Inc. (SOR) has a net interest margin (NIM) of 3.9%. This indicates healthy earnings from lending activities.

Source Capital, Inc. (SOR) has an efficiency ratio of 2.6%. This is excellent, indicating strong cost control.

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