PennantPark Floating Rate Capital Ltd (PFLT) - Net Assets
Based on the latest financial reports, PennantPark Floating Rate Capital Ltd (PFLT) has net assets worth $1.04 Billion USD as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($2.75 Billion) and total liabilities ($1.71 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check PennantPark Floating Rate Capital Ltd tangible book value ratio to evaluate the tangible quality of the company's equity base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $1.04 Billion |
| % of Total Assets | 37.8% |
| Annual Growth Rate | 19.18% |
| 5-Year Change | 119.02% |
| 10-Year Change | 185.85% |
| Growth Volatility | 33.4 |
PennantPark Floating Rate Capital Ltd - Net Assets Trend (2011–2025)
This chart illustrates how PennantPark Floating Rate Capital Ltd's net assets have evolved over time, based on quarterly financial data. See PennantPark Floating Rate Capital Ltd liquidity coverage in days to measure how many days the company can operate on defensive assets alone.
Annual Net Assets for PennantPark Floating Rate Capital Ltd (2011–2025)
The table below shows the annual net assets of PennantPark Floating Rate Capital Ltd from 2011 to 2025. For live valuation and market cap data, see PFLT market cap.
| Year | Net Assets | Change |
|---|---|---|
| 2025-09-30 | $1.07 Billion | +22.48% |
| 2024-09-30 | $877.29 Million | +34.22% |
| 2023-09-30 | $653.61 Million | +24.00% |
| 2022-09-30 | $527.09 Million | +7.44% |
| 2021-09-30 | $490.61 Million | +2.80% |
| 2020-09-30 | $477.27 Million | -5.13% |
| 2019-09-30 | $503.06 Million | -6.12% |
| 2018-09-30 | $535.84 Million | +17.02% |
| 2017-09-30 | $457.91 Million | +21.81% |
| 2016-09-30 | $375.91 Million | +0.81% |
| 2015-09-30 | $372.89 Million | +73.82% |
| 2014-09-30 | $214.53 Million | +2.12% |
| 2013-09-30 | $210.07 Million | +119.40% |
| 2012-09-30 | $95.74 Million | +3.99% |
| 2011-09-30 | $92.07 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to PennantPark Floating Rate Capital Ltd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 14400446000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (September 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | $99.00K | 0.01% |
| Other Components | $1.22 Billion | 113.49% |
| Total Equity | $1.07 Billion | 100.00% |
PennantPark Floating Rate Capital Ltd Competitors by Market Cap
The table below lists competitors of PennantPark Floating Rate Capital Ltd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Hunan Jiudian Pharmaceutical Co Ltd
SHE:300705
|
$742.22 Million |
|
Ferrari Group PLC
AS:FERGR
|
$742.27 Million |
|
Maccura Biotechnology Co Ltd
SHE:300463
|
$742.36 Million |
|
Shanghai Pudong Road & Bridge Construction Co Ltd
SHG:600284
|
$742.55 Million |
|
Southern Missouri Bancorp Inc
NASDAQ:SMBC
|
$742.12 Million |
|
Zhejiang Zanyu Technology Co Ltd
SHE:002637
|
$742.04 Million |
|
Harvia Oyj
HE:HARVIA
|
$742.01 Million |
|
Zhejiang Yingfeng Technology Co Ltd
SHG:605055
|
$741.72 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in PennantPark Floating Rate Capital Ltd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 877,294,000 to 1,074,516,000, a change of 197,222,000 (22.5%).
- Net income of 66,365,000 contributed positively to equity growth.
- Dividend payments of 111,562,000 reduced retained earnings.
- New share issuances of 245,479,000 increased equity.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $66.36 Million | +6.18% |
| Dividends Paid | $111.56 Million | -10.38% |
| Share Issuances | $245.48 Million | +22.85% |
| Other Changes | $-3.06 Million | -0.28% |
| Total Change | $- | 22.48% |
Book Value vs Market Value Analysis
This analysis compares PennantPark Floating Rate Capital Ltd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.64x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2011-09-30 | $13.44 | $7.48 | x |
| 2012-09-30 | $13.98 | $7.48 | x |
| 2013-09-30 | $21.91 | $7.48 | x |
| 2014-09-30 | $14.40 | $7.48 | x |
| 2015-09-30 | $22.89 | $7.48 | x |
| 2016-09-30 | $14.06 | $7.48 | x |
| 2017-09-30 | $15.13 | $7.48 | x |
| 2018-09-30 | $13.99 | $7.48 | x |
| 2019-09-30 | $12.97 | $7.48 | x |
| 2020-09-30 | $12.31 | $7.48 | x |
| 2021-09-30 | $12.66 | $7.48 | x |
| 2022-09-30 | $12.84 | $7.48 | x |
| 2023-09-30 | $12.86 | $7.48 | x |
| 2024-09-30 | $13.35 | $7.48 | x |
| 2025-09-30 | $11.61 | $7.48 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently PennantPark Floating Rate Capital Ltd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 6.18%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 38.69%
- • Asset Turnover: 0.06x
- • Equity Multiplier: 2.71x
- Recent ROE (6.18%) is below the historical average (6.48%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2012 | 12.49% | 84.18% | 0.08x | 1.86x | $2.39 Million |
| 2013 | 5.71% | 73.79% | 0.05x | 1.57x | $-9.02 Million |
| 2014 | 9.56% | 75.79% | 0.07x | 1.74x | $-938.80K |
| 2015 | 3.35% | 60.96% | 0.05x | 1.12x | $-24.78 Million |
| 2016 | 8.91% | 78.52% | 0.07x | 1.68x | $-4.10 Million |
| 2017 | 7.93% | 73.75% | 0.07x | 1.63x | $-9.47 Million |
| 2018 | 6.25% | 52.34% | 0.06x | 2.01x | $-20.09 Million |
| 2019 | -2.21% | -55.77% | 0.02x | 2.29x | $-61.43 Million |
| 2020 | 3.86% | 81.20% | 0.02x | 2.41x | $-29.31 Million |
| 2021 | 11.52% | 91.28% | 0.05x | 2.39x | $7.45 Million |
| 2022 | 0.66% | 29.73% | 0.01x | 2.33x | $-49.26 Million |
| 2023 | 6.01% | 93.13% | 0.04x | 1.80x | $-26.10 Million |
| 2024 | 10.47% | 54.72% | 0.08x | 2.40x | $4.11 Million |
| 2025 | 6.18% | 38.69% | 0.06x | 2.71x | $-41.09 Million |
Industry Comparison
This section compares PennantPark Floating Rate Capital Ltd's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $1,830,051,427
- Average return on equity (ROE) among peers: -2.68%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| PennantPark Floating Rate Capital Ltd (PFLT) | $1.04 Billion | 12.49% | 1.65x | $742.15 Million |
| Acadian Asset Management Inc (AAMI) | $2.43 Billion | 0.12% | 2.51x | $1.86 Billion |
| AllianceBernstein Holding L.P. (AB) | $381.33 Million | 35.01% | 0.36x | $3.27 Billion |
| Associated Capital Group Inc (AC) | $878.25 Million | 1.16% | 0.08x | $78.56 Million |
| Abrdn Emerging Markets Equity Income Fund Inc (AEF) | $97.63 Million | -30.60% | 0.04x | $265.69 Million |
| AgriFORCE Growing Systems Ltd (AGRI) | $8.00 Million | -83.04% | 0.47x | $194.14 Million |
| Alpha Compute Corp (ALP) | $-214.26K | 0.00% | 0.00x | $5.62 Million |
| Alvarium Tiedemann Holdings Inc. (ALTI) | $970.20 Million | -10.62% | 0.29x | $296.12 Million |
| Affiliated Managers Group Inc (AMG) | $4.30 Billion | 10.10% | 0.79x | $9.37 Billion |
| Ameriprise Financial Inc (AMP) | $9.23 Billion | 14.45% | 14.66x | $40.38 Billion |
| AMTD IDEA Group (AMTD) | $3.92 Million | 36.60% | 15.42x | $40.58 Million |
About PennantPark Floating Rate Capital Ltd
PennantPark Floating Rate Capital Ltd. is a business development company. It seeks to make secondary direct, debt, equity, and loan investments. The fund seeks to invest through floating rate loans in private or thinly traded or small market-cap, public middle market companies. It primarily invests in the United States and to a limited extent non-U.S. companies. The fund typically invests between… Read more