BLACKROCK TCP CAPITAL CORP (TCPC) Stock Fundamental Analysis
NASDAQ:TCPC - Nasdaq - US09259E1082 - Common Stock - Currency: USD
TCPC gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 233 industry peers in the Capital Markets industry. TCPC has only an average score on both its financial health and profitability. TCPC has a valuation in line with the averages, but it does not seem to be growing.
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.
TCPC had a positive operating cash flow in 4 of the past 5 years.
1.2 Ratios
The Return On Assets of TCPC (-2.49%) is worse than 80.26% of its industry peers.
With a Return On Equity value of -6.05%, TCPC is not doing good in the industry: 78.54% of the companies in the same industry are doing better.
TCPC has a better Return On Invested Capital (5.72%) than 68.24% 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 7.84%.
The 3 year average ROIC (4.88%) for TCPC is below the current ROIC(5.72%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -2.49% | ||
| ROE | -6.05% | ||
| ROIC | 5.72% |
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
The Operating Margin of TCPC (52.47%) is better than 88.41% of its industry peers.
TCPC's Operating Margin has been stable in the last couple of years.
The Gross Margin of TCPC (60.94%) is better than 68.67% of its industry peers.
In the last couple of years the Gross Margin of TCPC has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 52.47% | ||
| PM (TTM) | N/A | ||
| GM | 60.94% |
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
Compared to 1 year ago, TCPC has more shares outstanding
The number of shares outstanding for TCPC has been increased compared to 5 years ago.
Compared to 1 year ago, TCPC has a worse debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of 0.09, we must say that TCPC is in the distress zone and has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 0.09, TCPC is doing worse than 75.97% of the companies in the same industry.
The Debt to FCF ratio of TCPC is 3.52, which is a good value as it means it would take TCPC, 3.52 years of fcf income to pay off all of its debts.
With a decent Debt to FCF ratio value of 3.52, TCPC is doing good in the industry, outperforming 72.96% of the companies in the same industry.
TCPC has a Debt/Equity ratio of 1.41. This is a high value indicating a heavy dependency on external financing.
TCPC has a Debt to Equity ratio of 1.41. This is in the lower half of the industry: TCPC underperforms 67.81% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.41 | ||
| Debt/FCF | 3.52 | ||
| Altman-Z | 0.09 |
ROIC/WACCN/A
WACCN/A
2.3 Liquidity
A Current Ratio of 5.78 indicates that TCPC has no problem at all paying its short term obligations.
Looking at the Current ratio, with a value of 5.78, TCPC belongs to the top of the industry, outperforming 89.27% of the companies in the same industry.
TCPC has a Quick Ratio of 5.78. This indicates that TCPC is financially healthy and has no problem in meeting its short term obligations.
TCPC has a Quick ratio of 5.78. This is amongst the best in the industry. TCPC outperforms 89.27% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 5.78 | ||
| Quick Ratio | 5.78 |
3. Growth
3.1 Past
The earnings per share for TCPC have decreased strongly by -19.35% in the last year.
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.
TCPC shows a strong growth in Revenue. In the last year, the Revenue has grown by 20.88%.
The Revenue has been growing slightly by 5.85% on average over the past years.
EPS 1Y (TTM)-19.35%
EPS 3Y8.06%
EPS 5Y-0.37%
EPS Q2Q%-20%
Revenue 1Y (TTM)20.88%
Revenue growth 3Y16.26%
Revenue growth 5Y5.85%
Sales Q2Q%0.29%
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 -17.35% yearly.
TCPC is expected to show a very negative growth in Revenue. In the coming years, the Revenue will decrease by -10.32% yearly.
EPS Next Y-14.82%
EPS Next 2Y-16.53%
EPS Next 3Y-17.35%
EPS Next 5YN/A
Revenue Next Year-15.12%
Revenue Next 2Y-9.19%
Revenue Next 3Y-10.32%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
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 5.27, the valuation of TCPC can be described as very cheap.
94.42% of the companies in the same industry are more expensive than TCPC, based on the Price/Earnings ratio.
TCPC's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.30.
TCPC is valuated cheaply with a Price/Forward Earnings ratio of 7.13.
TCPC's Price/Forward Earnings ratio is rather cheap when compared to the industry. TCPC is cheaper than 92.27% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of TCPC to the average of the S&P500 Index (21.76), we can say TCPC is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 5.27 | ||
| Fwd PE | 7.13 |
4.2 Price Multiples
TCPC's Price/Free Cash Flow ratio is rather cheap when compared to the industry. TCPC is cheaper than 90.99% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 2.15 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
TCPC's earnings are expected to decrease with -17.35% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-16.53%
EPS Next 3Y-17.35%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 12.77%, TCPC is a good candidate for dividend investing.
TCPC's Dividend Yield is rather good when compared to the industry average which is at 8.10. TCPC pays more dividend than 84.55% of the companies in the same industry.
TCPC's Dividend Yield is rather good when compared to the S&P500 average which is at 2.37.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 12.77% |
5.2 History
The dividend of TCPC has a limited annual growth rate of 3.58%.
TCPC has paid a dividend for at least 10 years, which is 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-254.36%
EPS Next 2Y-16.53%
EPS Next 3Y-17.35%
7.9
+0.03 (+0.38%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)
Earnings (Next)
Inst Owners24.11%
Inst Owner Change0%
Ins Owners0.21%
Ins Owner Change4.09%
Market Cap671.82M
Analysts48
Price Target7.48 (-5.32%)
Short Float %2.09%
Short Ratio3.32
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 12.77% |
Yearly Dividend1.72
Dividend Growth(5Y)3.58%
DP-254.36%
Div Incr Years0
Div Non Decr Years0
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)0.06%
Min EPS beat(2)-4.92%
Max EPS beat(2)5.04%
EPS beat(4)1
Avg EPS beat(4)-3.35%
Min EPS beat(4)-9.18%
Max EPS beat(4)5.04%
EPS beat(8)4
Avg EPS beat(8)-0.94%
EPS beat(12)7
Avg EPS beat(12)2.15%
EPS beat(16)8
Avg EPS beat(16)1.15%
Revenue beat(2)0
Avg Revenue beat(2)-6.72%
Min Revenue beat(2)-7.99%
Max Revenue beat(2)-5.44%
Revenue beat(4)2
Avg Revenue beat(4)-2.02%
Min Revenue beat(4)-7.99%
Max Revenue beat(4)3.62%
Revenue beat(8)5
Avg Revenue beat(8)-0.27%
Revenue beat(12)8
Avg Revenue beat(12)0.96%
Revenue beat(16)8
Avg Revenue beat(16)-0.22%
PT rev (1m)0%
PT rev (3m)-8.33%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-1.68%
EPS NY rev (1m)1.68%
EPS NY rev (3m)0.9%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-3%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-3.64%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 5.27 | ||
| Fwd PE | 7.13 | ||
| P/S | 2.59 | ||
| P/FCF | 2.15 | ||
| P/OCF | 2.15 | ||
| P/B | 0.86 | ||
| P/tB | 0.86 | ||
| EV/EBITDA | N/A |
EPS(TTM)1.5
EY18.99%
EPS(NY)1.11
Fwd EY14.02%
FCF(TTM)3.67
FCFY46.47%
OCF(TTM)3.67
OCFY46.47%
SpS3.05
BVpS9.19
TBVpS9.19
PEG (NY)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -2.49% | ||
| ROE | -6.05% | ||
| ROCE | 7.24% | ||
| ROIC | 5.72% | ||
| ROICexc | 6.04% | ||
| ROICexgc | 6.12% | ||
| OM | 52.47% | ||
| PM (TTM) | N/A | ||
| GM | 60.94% | ||
| FCFM | 120.27% |
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-Score3
Asset Turnover0.14
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.41 | ||
| Debt/FCF | 3.52 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | 2.13 | ||
| Cash Conversion | N/A | ||
| Profit Quality | N/A | ||
| Current Ratio | 5.78 | ||
| Quick Ratio | 5.78 | ||
| Altman-Z | 0.09 |
F-Score3
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)-19.35%
EPS 3Y8.06%
EPS 5Y-0.37%
EPS Q2Q%-20%
EPS Next Y-14.82%
EPS Next 2Y-16.53%
EPS Next 3Y-17.35%
EPS Next 5YN/A
Revenue 1Y (TTM)20.88%
Revenue growth 3Y16.26%
Revenue growth 5Y5.85%
Sales Q2Q%0.29%
Revenue Next Year-15.12%
Revenue Next 2Y-9.19%
Revenue Next 3Y-10.32%
Revenue Next 5YN/A
EBIT growth 1Y24.23%
EBIT growth 3Y22.19%
EBIT growth 5Y6.87%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y128.23%
FCF growth 3YN/A
FCF growth 5Y128.56%
OCF growth 1Y128.23%
OCF growth 3YN/A
OCF growth 5Y128.56%