BLACKROCK TCP CAPITAL CORP (TCPC) Stock Fundamental Analysis
NASDAQ:TCPC - Nasdaq - US09259E1082 - Common Stock - Currency: USD
Overall TCPC gets a fundamental rating of 4 out of 10. We evaluated TCPC 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
In the past year TCPC was profitable.
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
With a Return On Assets value of -2.49%, TCPC is not doing good in the industry: 79.91% of the companies in the same industry are doing better.
Looking at the Return On Equity, with a value of -6.05%, TCPC is doing worse than 78.21% of the companies in the same industry.
The Return On Invested Capital of TCPC (5.72%) is better than 68.38% 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 last Return On Invested Capital (5.72%) for TCPC is above the 3 year average (4.88%), which is a sign of increasing profitability.
| 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
Looking at the Operating Margin, with a value of 52.47%, TCPC belongs to the top of the industry, outperforming 88.46% of the companies in the same industry.
In the last couple of years the Operating Margin of TCPC has remained more or less at the same level.
TCPC's Gross Margin of 60.94% is fine compared to the rest of the industry. TCPC outperforms 68.80% of its industry peers.
TCPC's Gross Margin has been stable in the last couple of years.
| 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
TCPC has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, TCPC has more shares outstanding
The debt/assets ratio for TCPC is higher compared to a year ago.
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.
With a Altman-Z score value of 0.09, TCPC is not doing good in the industry: 76.07% of the companies in the same industry are doing better.
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.
Looking at the Debt to FCF ratio, with a value of 3.52, TCPC is in the better half of the industry, outperforming 73.08% 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 worse Debt to Equity ratio (1.41) than 67.52% 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
TCPC has a Current Ratio of 5.78. This indicates that TCPC is financially healthy and has no problem in meeting its short term obligations.
With an excellent Current ratio value of 5.78, TCPC belongs to the best of the industry, outperforming 89.32% 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 better Quick ratio (5.78) than 89.32% 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.
TCPC shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -0.37% yearly.
The Revenue has grown by 20.88% in the past year. This is a very strong growth!
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
A Price/Earnings ratio of 5.27 indicates a rather cheap valuation of TCPC.
Based on the Price/Earnings ratio, TCPC is valued cheaply inside the industry as 94.44% of the companies are valued more expensively.
TCPC is valuated cheaply when we compare the Price/Earnings ratio to 27.30, which is the current average of the S&P500 Index.
TCPC is valuated cheaply with a Price/Forward Earnings ratio of 7.13.
Based on the Price/Forward Earnings ratio, TCPC is valued cheaper than 91.88% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 21.76, TCPC is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 5.27 | ||
| Fwd PE | 7.13 |
4.2 Price Multiples
Based on the Price/Free Cash Flow ratio, TCPC is valued cheaper than 92.73% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 2.15 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
A cheap valuation may be justified as TCPC's earnings are expected to decrease with -17.35% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-16.53%
EPS Next 3Y-17.35%
5. Dividend
5.1 Amount
TCPC has a Yearly Dividend Yield of 12.71%, which is a nice return.
Compared to an average industry Dividend Yield of 8.12, TCPC pays a better dividend. On top of this TCPC pays more dividend than 84.62% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.35, TCPC pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 12.71% |
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-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 | 12.71% |
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%