BLACKROCK TCP CAPITAL CORP (TCPC)

US09259E1082 - Common Stock

8.02  -0.14 (-1.72%)

After market: 8.06 +0.04 (+0.5%)

Fundamental Rating

5

Overall TCPC gets a fundamental rating of 5 out of 10. We evaluated TCPC against 218 industry peers in the Capital Markets industry. TCPC has only an average score on both its financial health and profitability. TCPC has a decent growth rate and is not valued too expensively.



4

1. Profitability

1.1 Basic Checks

In the past year TCPC was profitable.
In the past year TCPC had a positive cash flow from operations.
Of the past 5 years TCPC 4 years were profitable.
Of the past 5 years TCPC 4 years had a positive operating cash flow.

1.2 Ratios

TCPC has a Return On Assets of -2.11%. This is amonst the worse of the industry: TCPC underperforms 84.58% of its industry peers.
TCPC's Return On Equity of -5.35% is on the low side compared to the rest of the industry. TCPC is outperformed by 81.31% of its industry peers.
TCPC has a Return On Invested Capital (4.23%) which is comparable to the rest of the industry.
Measured over the past 3 years, the Average Return On Invested Capital for TCPC is significantly below the industry average of 17.72%.
The 3 year average ROIC (4.08%) for TCPC is below the current ROIC(4.23%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA -2.11%
ROE -5.35%
ROIC 4.23%
ROA(3y)2.93%
ROA(5y)2.97%
ROE(3y)6.83%
ROE(5y)6.75%
ROIC(3y)4.08%
ROIC(5y)4.15%

1.3 Margins

In the last couple of years the Profit Margin of TCPC has declined.
TCPC has a better Operating Margin (50.74%) than 88.32% of its industry peers.
TCPC's Operating Margin has been stable in the last couple of years.
With a decent Gross Margin value of 64.48%, TCPC is doing good in the industry, outperforming 64.49% of the companies in the same industry.
TCPC's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 50.74%
PM (TTM) N/A
GM 64.48%
OM growth 3Y1.81%
OM growth 5Y0.78%
PM growth 3Y-23.77%
PM growth 5Y-5.1%
GM growth 3Y1.91%
GM growth 5Y-0.12%

5

2. Health

2.1 Basic Checks

TCPC has about the same amout of shares outstanding than it did 1 year ago.
The number of shares outstanding for TCPC has been reduced compared to 5 years ago.
TCPC has a worse debt/assets ratio than last year.

2.2 Solvency

TCPC has an Altman-Z score of 0.45. This is a bad value and indicates that TCPC is not financially healthy and even has some risk of bankruptcy.
The Altman-Z score of TCPC (0.45) is worse than 69.16% of its industry peers.
TCPC has a debt to FCF ratio of 6.39. This is a slightly negative value and a sign of low solvency as TCPC would need 6.39 years to pay back of all of its debts.
The Debt to FCF ratio of TCPC (6.39) is better than 61.22% of its industry peers.
TCPC has a Debt/Equity ratio of 1.51. This is a high value indicating a heavy dependency on external financing.
The Debt to Equity ratio of TCPC (1.51) is worse than 71.96% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.51
Debt/FCF 6.39
Altman-Z 0.45
ROIC/WACCN/A
WACCN/A

2.3 Liquidity

TCPC has a Current Ratio of 11.73. This indicates that TCPC is financially healthy and has no problem in meeting its short term obligations.
With an excellent Current ratio value of 11.73, TCPC belongs to the best of the industry, outperforming 94.86% of the companies in the same industry.
TCPC has a Quick Ratio of 11.73. This indicates that TCPC is financially healthy and has no problem in meeting its short term obligations.
Looking at the Quick ratio, with a value of 11.73, TCPC belongs to the top of the industry, outperforming 94.86% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 11.73
Quick Ratio 11.73

4

3. Growth

3.1 Past

TCPC shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 4.65%.
TCPC shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 2.96% yearly.
Looking at the last year, TCPC shows a quite strong growth in Revenue. The Revenue has grown by 16.64% in the last year.
The Revenue has been growing slightly by 1.90% on average over the past years.
EPS 1Y (TTM)4.65%
EPS 3Y9.8%
EPS 5Y2.96%
EPS Q2Q%-12.5%
Revenue 1Y (TTM)16.64%
Revenue growth 3Y6.75%
Revenue growth 5Y1.9%
Sales Q2Q%32.55%

3.2 Future

The Earnings Per Share is expected to decrease by -9.66% on average over the next years.
TCPC is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.54% yearly.
EPS Next Y-9.05%
EPS Next 2Y-9.37%
EPS Next 3Y-9.66%
EPS Next 5YN/A
Revenue Next Year23.56%
Revenue Next 2Y10.89%
Revenue Next 3Y3.54%
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 accelerating.

6

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 4.46, the valuation of TCPC can be described as very cheap.
Based on the Price/Earnings ratio, TCPC is valued cheaply inside the industry as 93.46% of the companies are valued more expensively.
When comparing the Price/Earnings ratio of TCPC to the average of the S&P500 Index (30.51), we can say TCPC is valued rather cheaply.
The Price/Forward Earnings ratio is 5.31, which indicates a rather cheap valuation of TCPC.
95.33% of the companies in the same industry are more expensive than TCPC, based on the Price/Forward Earnings ratio.
TCPC's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 23.39.
Industry RankSector Rank
PE 4.46
Fwd PE 5.31

4.2 Price Multiples

TCPC's Price/Free Cash Flow ratio is rather cheap when compared to the industry. TCPC is cheaper than 89.72% of the companies in the same industry.
Industry RankSector Rank
P/FCF 3.32
EV/EBITDA N/A

4.3 Compensation for Growth

TCPC's earnings are expected to decrease with -9.66% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)1.5
EPS Next 2Y-9.37%
EPS Next 3Y-9.66%

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5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 16.27%, TCPC is a good candidate for dividend investing.
In the last 3 months the price of TCPC has falen by -22.36%. A price decline artificially increases the dividend yield. It may be a sign investors do not expect the dividend to last.
TCPC's Dividend Yield is rather good when compared to the industry average which is at 8.57. TCPC pays more dividend than 92.99% of the companies in the same industry.
TCPC's Dividend Yield is rather good when compared to the S&P500 average which is at 2.22.
Industry RankSector Rank
Dividend Yield 16.27%

5.2 History

The dividend of TCPC has a limited annual growth rate of 3.84%.
TCPC has been paying a dividend for at least 10 years, so it has a reliable track record.
The dividend of TCPC decreased in the last 3 years.
Dividend Growth(5Y)3.84%
Div Incr Years2
Div Non Decr Years2

5.3 Sustainability

The earnings of TCPC are negative and hence is the payout ratio. TCPC will probably not be able to sustain this dividend level.
DP-247.29%
EPS Next 2Y-9.37%
EPS Next 3Y-9.66%

BLACKROCK TCP CAPITAL CORP

NASDAQ:TCPC (10/31/2024, 6:34:01 PM)

After market: 8.06 +0.04 (+0.5%)

8.02

-0.14 (-1.72%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap686.43M
Analysts
Price Target
Dividend
Industry RankSector Rank
Dividend Yield 16.27%
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
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PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
Industry RankSector Rank
PE 4.46
Fwd PE 5.31
P/S
P/FCF
P/OCF
P/B
P/tB
EV/EBITDA
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)N/A
PEG (5Y)1.5
Profitability
Industry RankSector Rank
ROA -2.11%
ROE -5.35%
ROCE
ROIC
ROICexc
ROICexgc
OM 50.74%
PM (TTM) N/A
GM 64.48%
FCFM
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.1
Health
Industry RankSector Rank
Debt/Equity 1.51
Debt/FCF
Debt/EBITDA
Cap/Depr
Cap/Sales
Interest Coverage
Cash Conversion
Profit Quality
Current Ratio 11.73
Quick Ratio 11.73
Altman-Z
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
High Growth Momentum
Growth
EPS 1Y (TTM)4.65%
EPS 3Y9.8%
EPS 5Y
EPS Q2Q%
EPS Next Y-9.05%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)16.64%
Revenue growth 3Y6.75%
Revenue growth 5Y
Sales Q2Q%
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y