MSC Income Fund, Inc.
MSC Income Fund, Inc. is a Business Development Company specializing in middle market debt and debt and equity investments in lower middle market companies. The fund seeks to invest in management buyouts, recapitalizations, growth financings, refinancing and acquisitions of companies. It invests in companies with revenue between $10 million and $150 million.
MSC Income Fund, Inc. (MSCF) - Net Assets
Latest net assets as of September 2024: $618.49 Million USD
Based on the latest financial reports, MSC Income Fund, Inc. (MSCF) has net assets worth $618.49 Million USD as of September 2024.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($1.23 Billion) and total liabilities ($608.80 Million). 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.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $618.49 Million |
| % of Total Assets | 50.39% |
| Annual Growth Rate | 1.9% |
| 5-Year Change | N/A |
| 10-Year Change | N/A |
| Growth Volatility | 2.42 |
MSC Income Fund, Inc. - Net Assets Trend (2020–2024)
This chart illustrates how MSC Income Fund, Inc.'s net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for MSC Income Fund, Inc. (2020–2024)
The table below shows the annual net assets of MSC Income Fund, Inc. from 2020 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | $624.90 Million | +0.42% |
| 2023-12-31 | $622.31 Million | +2.07% |
| 2022-12-31 | $609.66 Million | -0.57% |
| 2021-12-31 | $613.17 Million | +5.79% |
| 2020-12-31 | $579.62 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to MSC Income Fund, Inc.'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 grown by 3776700000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Other Components | $689.62 Million | 110.36% |
| Total Equity | $624.90 Million | 100.00% |
MSC Income Fund, Inc. Competitors by Market Cap
The table below lists competitors of MSC Income Fund, Inc. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Autobacs Seven Co. Ltd
OTCMKTS:ATBSF
|
$167.34K |
|
Sparindex INDEX EmMBL Akk KL A
CO:SPVIEMBLAKKKLA
|
$167.42K |
|
Eldav-L
TA:ELDAV
|
$167.48K |
|
HUDBAY MINERALS (OCKA.SG)
STU:OCKA
|
$167.60K |
|
Hoegh LNG Partners LP
PINK:HMLPF
|
$167.04K |
|
Wealth Inv AKL Othania GlobAkt
CO:WEIOGA
|
$167.00K |
|
Platinum Analytics Cayman Limited Class A Ordinary Shares
NASDAQ:PLTS
|
$166.69K |
|
SLM (SM1.SG)
STU:SM1
|
$166.62K |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in MSC Income Fund, Inc.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 622,307,000 to 624,903,000, a change of 2,596,000 (0.4%).
- Net income of 56,553,000 contributed positively to equity growth.
- Dividend payments of 39,756,000 reduced retained earnings.
- Share repurchases of 20,724,000 reduced equity.
- New share issuances of 6,996,000 increased equity.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $56.55 Million | +9.05% |
| Dividends Paid | $39.76 Million | -6.36% |
| Share Repurchases | $20.72 Million | -3.32% |
| Share Issuances | $7.00 Million | +1.12% |
| Other Changes | $-473.00K | -0.08% |
| Total Change | $- | 0.42% |
Book Value vs Market Value Analysis
This analysis compares MSC Income Fund, Inc.'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: 1.10x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 2.34x to 1.10x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2020-12-31 | $7.28 | $17.02 | x |
| 2021-12-31 | $15.36 | $17.02 | x |
| 2022-12-31 | $15.22 | $17.02 | x |
| 2023-12-31 | $15.54 | $17.02 | x |
| 2024-12-31 | $15.53 | $17.02 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently MSC Income Fund, Inc. 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): 9.05%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 90.18%
- • Asset Turnover: 0.05x
- • Equity Multiplier: 1.96x
- Recent ROE (9.05%) is above the historical average (7.50%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2020 | -1.68% | 0.00% | 0.00x | 1.53x | $-67.73 Million |
| 2021 | 12.01% | 89.38% | 0.07x | 1.87x | $12.32 Million |
| 2022 | 7.48% | 88.10% | 0.05x | 1.82x | $-15.38 Million |
| 2023 | 10.64% | 88.47% | 0.07x | 1.83x | $3.98 Million |
| 2024 | 9.05% | 90.18% | 0.05x | 1.96x | $-5.94 Million |
Industry Comparison
This section compares MSC Income Fund, Inc.'s net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $310,488,743
- Average return on equity (ROE) among peers: -23.81%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| MSC Income Fund, Inc. (MSCF) | $618.49 Million | -1.68% | 0.98x | $167.07K |
| Aberdeen International Inc (AABVF) | $136.31 Million | 25.56% | 0.23x | $2.78 Million |
| Acadian Asset Management Inc (AAMI) | $-17.60 Million | 0.00% | 0.00x | $1.39 Billion |
| AllianceBernstein Holding L.P. (AB) | $402.30 Million | 32.07% | 0.95x | $3.43 Billion |
| VIVO Cannabis Inc (ABCCF) | $164.13 Million | 16.36% | 0.09x | $148.26 Million |
| Associated Capital Group Inc (AC) | $502.13 Million | 5.33% | 0.17x | $42.54 Million |
| Adrian Resources Ltd (ADLRF) | $605.01 Million | 3.35% | 0.58x | $609.82 Million |
| Abrdn Emerging Markets Equity Income Fund Inc (AEF) | $85.10 Million | -65.65% | 0.01x | $77.20K |
| AGF Management Limited (AGFMF) | $1.12 Billion | 10.14% | 3.56x | $298.43 Million |
| Agronomics Limited (AGNMF) | $100.03 Million | 1.02% | 0.02x | $57.14 Million |
| AgriFORCE Growing Systems Ltd (AGRI) | $6.11 Million | -266.31% | 0.76x | $2.71 Million |