BLACKROCK TCP CAPITAL CORP (TCPC) Stock Fundamental Analysis
USA - NASDAQ:TCPC - US09259E1082 - Common Stock
6.58 USD
-0.07 (-1.05%)
6.6299 USD
+0.05 (+0.76%)
Taking everything into account, TCPC scores 4 out of 10 in our fundamental rating. TCPC was compared to 237 industry peers in the Capital Markets industry. Both the profitability and the financial health of TCPC get a neutral evaluation. Nothing too spectacular is happening here. TCPC has a valuation in line with the averages, but on the other hand it scores bad on growth.
1. Profitability
1.1 Basic Checks
TCPC had positive earnings in the past year.
In the past year TCPC had a positive cash flow from operations.
In multiple years TCPC reported negative net income over the last 5 years.
Of the past 5 years TCPC 4 years had a positive operating cash flow.
1.2 Ratios
TCPC has a Return On Assets of -0.62%. This is in the lower half of the industry: TCPC underperforms 77.22% of its industry peers.
TCPC has a Return On Equity of -1.61%. This is in the lower half of the industry: TCPC underperforms 75.95% of its industry peers.
TCPC has a Return On Invested Capital of 5.28%. This is in the better half of the industry: TCPC outperforms 66.24% of its industry peers.
TCPC had an Average Return On Invested Capital over the past 3 years of 4.88%. This is below the industry average of 7.61%.
The last Return On Invested Capital (5.28%) for TCPC is above the 3 year average (4.88%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -0.62% | ||
| ROE | -1.61% | ||
| ROIC | 5.28% |
ROA(3y)-0.52%
ROA(5y)1.96%
ROE(3y)-1.23%
ROE(5y)4.36%
ROIC(3y)4.88%
ROIC(5y)4.36%
1.3 Margins
TCPC has a Operating Margin of 53.43%. This is amongst the best in the industry. TCPC outperforms 88.61% of its industry peers.
TCPC's Operating Margin has been stable in the last couple of years.
TCPC has a Gross Margin of 59.23%. This is in the better half of the industry: TCPC outperforms 68.35% of its industry peers.
TCPC's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 53.43% | ||
| PM (TTM) | N/A | ||
| GM | 59.23% |
OM growth 3Y5.11%
OM growth 5Y0.96%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y1.92%
GM growth 5Y-0.19%
2. Health
2.1 Basic Checks
The number of shares outstanding for TCPC has been increased compared to 1 year ago.
Compared to 5 years ago, TCPC has more shares outstanding
TCPC has a worse debt/assets ratio than last year.
2.2 Solvency
TCPC has an Altman-Z score of -0.04. This is a bad value and indicates that TCPC is not financially healthy and even has some risk of bankruptcy.
With a Altman-Z score value of -0.04, TCPC is not doing good in the industry: 75.11% of the companies in the same industry are doing better.
The Debt to FCF ratio of TCPC is 6.39, which is on the high side as it means it would take TCPC, 6.39 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of TCPC (6.39) is better than 65.40% of its industry peers.
TCPC has a Debt/Equity ratio of 1.59. This is a high value indicating a heavy dependency on external financing.
TCPC's Debt to Equity ratio of 1.59 is on the low side compared to the rest of the industry. TCPC is outperformed by 74.26% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.59 | ||
| Debt/FCF | 6.39 | ||
| Altman-Z | -0.04 |
ROIC/WACCN/A
WACCN/A
2.3 Liquidity
A Current Ratio of 5.30 indicates that TCPC has no problem at all paying its short term obligations.
TCPC has a Current ratio of 5.30. This is amongst the best in the industry. TCPC outperforms 89.03% of its industry peers.
A Quick Ratio of 5.30 indicates that TCPC has no problem at all paying its short term obligations.
Looking at the Quick ratio, with a value of 5.30, TCPC belongs to the top of the industry, outperforming 89.03% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 5.3 | ||
| Quick Ratio | 5.3 |
3. Growth
3.1 Past
TCPC shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -22.78%.
Measured over the past years, TCPC shows a decrease in Earnings Per Share. The EPS has been decreasing by -0.37% on average per year.
The Revenue has been growing slightly by 3.11% in the past year.
Measured over the past years, TCPC shows a small growth in Revenue. The Revenue has been growing by 5.85% on average per year.
EPS 1Y (TTM)-22.78%
EPS 3Y8.06%
EPS 5Y-0.37%
EPS Q2Q%-26.19%
Revenue 1Y (TTM)3.11%
Revenue growth 3Y16.26%
Revenue growth 5Y5.85%
Sales Q2Q%-28.05%
3.2 Future
TCPC is expected to show a very negative growth in Earnings Per Share. In the coming years, the EPS will decrease by -18.79% yearly.
TCPC is expected to show a very negative growth in Revenue. In the coming years, the Revenue will decrease by -11.26% yearly.
EPS Next Y-16.7%
EPS Next 2Y-22.7%
EPS Next 3Y-18.79%
EPS Next 5YN/A
Revenue Next Year-20.48%
Revenue Next 2Y-14.15%
Revenue Next 3Y-11.26%
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 4.73, the valuation of TCPC can be described as very cheap.
TCPC's Price/Earnings ratio is rather cheap when compared to the industry. TCPC is cheaper than 95.36% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 27.38, TCPC is valued rather cheaply.
Based on the Price/Forward Earnings ratio of 6.93, the valuation of TCPC can be described as very cheap.
Based on the Price/Forward Earnings ratio, TCPC is valued cheaper than 92.83% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 22.86. TCPC is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 4.73 | ||
| Fwd PE | 6.93 |
4.2 Price Multiples
TCPC's Price/Free Cash Flow ratio is rather cheap when compared to the industry. TCPC is cheaper than 87.34% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 3.04 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
TCPC's earnings are expected to decrease with -18.79% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-22.7%
EPS Next 3Y-18.79%
5. Dividend
5.1 Amount
TCPC has a Yearly Dividend Yield of 13.85%, which is a nice return.
Compared to an average industry Dividend Yield of 7.96, TCPC pays a better dividend. On top of this TCPC pays more dividend than 89.87% of the companies listed in the same industry.
TCPC's Dividend Yield is rather good when compared to the S&P500 average which is at 2.38.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 13.85% |
5.2 History
The dividend of TCPC has a limited annual growth rate of 3.58%.
TCPC has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)3.58%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
TCPC has negative earnings and hence a negative payout ratio. The dividend may be in danger.
DP-971.28%
EPS Next 2Y-22.7%
EPS Next 3Y-18.79%
6.58
-0.07 (-1.05%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)
Earnings (Next)
Inst Owners23.45%
Inst Owner Change-6.08%
Ins Owners0.21%
Ins Owner Change1.71%
Market Cap559.56M
Analysts46.67
Price Target7.31 (11.09%)
Short Float %2.83%
Short Ratio4.79
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 13.85% |
Yearly Dividend1.72
Dividend Growth(5Y)3.58%
DP-971.28%
Div Incr Years0
Div Non Decr Years0
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-0.43%
Min EPS beat(2)-5.91%
Max EPS beat(2)5.04%
EPS beat(4)1
Avg EPS beat(4)-3.74%
Min EPS beat(4)-9.18%
Max EPS beat(4)5.04%
EPS beat(8)3
Avg EPS beat(8)-3%
EPS beat(12)6
Avg EPS beat(12)0.46%
EPS beat(16)8
Avg EPS beat(16)1.2%
Revenue beat(2)0
Avg Revenue beat(2)-6.43%
Min Revenue beat(2)-7.43%
Max Revenue beat(2)-5.44%
Revenue beat(4)1
Avg Revenue beat(4)-4.31%
Min Revenue beat(4)-7.99%
Max Revenue beat(4)3.62%
Revenue beat(8)4
Avg Revenue beat(8)-2.02%
Revenue beat(12)7
Avg Revenue beat(12)0.01%
Revenue beat(16)8
Avg Revenue beat(16)-0.37%
PT rev (1m)-2.27%
PT rev (3m)-2.27%
EPS NQ rev (1m)-10.29%
EPS NQ rev (3m)-17.52%
EPS NY rev (1m)-2.21%
EPS NY rev (3m)-0.56%
Revenue NQ rev (1m)-1.45%
Revenue NQ rev (3m)-18.56%
Revenue NY rev (1m)-4.5%
Revenue NY rev (3m)-6.31%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 4.73 | ||
| Fwd PE | 6.93 | ||
| P/S | 2.34 | ||
| P/FCF | 3.04 | ||
| P/OCF | 3.04 | ||
| P/B | 0.76 | ||
| P/tB | 0.76 | ||
| EV/EBITDA | N/A |
EPS(TTM)1.39
EY21.12%
EPS(NY)0.95
Fwd EY14.44%
FCF(TTM)2.16
FCFY32.87%
OCF(TTM)2.16
OCFY32.87%
SpS2.82
BVpS8.71
TBVpS8.71
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -0.62% | ||
| ROE | -1.61% | ||
| ROCE | 6.68% | ||
| ROIC | 5.28% | ||
| ROICexc | 5.59% | ||
| ROICexgc | 5.66% | ||
| OM | 53.43% | ||
| PM (TTM) | N/A | ||
| GM | 59.23% | ||
| FCFM | 76.79% |
ROA(3y)-0.52%
ROA(5y)1.96%
ROE(3y)-1.23%
ROE(5y)4.36%
ROIC(3y)4.88%
ROIC(5y)4.36%
ROICexc(3y)5.16%
ROICexc(5y)4.54%
ROICexgc(3y)5.23%
ROICexgc(5y)4.6%
ROCE(3y)6.17%
ROCE(5y)5.51%
ROICexcg growth 3Y22.56%
ROICexcg growth 5Y4.85%
ROICexc growth 3Y22.5%
ROICexc growth 5Y4.81%
OM growth 3Y5.11%
OM growth 5Y0.96%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y1.92%
GM growth 5Y-0.19%
F-Score4
Asset Turnover0.12
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.59 | ||
| Debt/FCF | 6.39 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | 1.82 | ||
| Cash Conversion | N/A | ||
| Profit Quality | N/A | ||
| Current Ratio | 5.3 | ||
| Quick Ratio | 5.3 | ||
| Altman-Z | -0.04 |
F-Score4
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-22.78%
EPS 3Y8.06%
EPS 5Y-0.37%
EPS Q2Q%-26.19%
EPS Next Y-16.7%
EPS Next 2Y-22.7%
EPS Next 3Y-18.79%
EPS Next 5YN/A
Revenue 1Y (TTM)3.11%
Revenue growth 3Y16.26%
Revenue growth 5Y5.85%
Sales Q2Q%-28.05%
Revenue Next Year-20.48%
Revenue Next 2Y-14.15%
Revenue Next 3Y-11.26%
Revenue Next 5YN/A
EBIT growth 1Y8.58%
EBIT growth 3Y22.19%
EBIT growth 5Y6.87%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y6.2%
FCF growth 3YN/A
FCF growth 5Y128.56%
OCF growth 1Y6.2%
OCF growth 3YN/A
OCF growth 5Y128.56%