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PFLT 
PennantPark Floating Rate Capital Ltd (PFLT)
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Upturn Advisory Summary
12/01/2025: PFLT (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Number of Analysts
8 Analysts rated it
Limited analyst coverage, niche firm, research info may be scarce.
1 Year Target Price $10.79
1 Year Target Price $10.79
| 2 | Strong Buy |
| 2 | Buy |
| 4 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -14.71% | Avg. Invested days 47 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  1.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 12/01/2025 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 902.88M USD | Price to earnings Ratio 12.64 | 1Y Target Price 10.79 |
Price to earnings Ratio 12.64 | 1Y Target Price 10.79 | ||
Volume (30-day avg) 8 | Beta 0.74 | 52 Weeks Range 8.12 - 10.55 | Updated Date 12/2/2025 |
52 Weeks Range 8.12 - 10.55 | Updated Date 12/2/2025 | ||
Dividends yield (FY) 13.41% | Basic EPS (TTM) 0.72 |
Earnings Date
Report Date 2025-11-24 | When After Market | Estimate 0.29 | Actual 0.28 |
Profitability
Profit Margin 25.39% | Operating Margin (TTM) 77.63% |
Management Effectiveness
Return on Assets (TTM) 5.09% | Return on Equity (TTM) 6.8% |
Valuation
Trailing PE 12.64 | Forward PE 8 | Enterprise Value 971399091 | Price to Sales(TTM) 3.45 |
Enterprise Value 971399091 | Price to Sales(TTM) 3.45 | ||
Enterprise Value to Revenue 34.23 | Enterprise Value to EBITDA 26.01 | Shares Outstanding 99217896 | Shares Floating - |
Shares Outstanding 99217896 | Shares Floating - | ||
Percent Insiders 0.86 | Percent Institutions 23.25 |
Upturn AI SWOT
PennantPark Floating Rate Capital Ltd
Company Overview
History and Background
PennantPark Floating Rate Capital Ltd. (PFLT) was founded in 2011. It is a business development company (BDC) that primarily invests in U.S. middle market companies in the form of floating rate loans.
Core Business Areas
- Direct Lending: PFLT provides direct lending solutions to middle market companies, primarily in the form of first lien and second lien senior secured loans. They also invest in subordinated debt and equity.
Leadership and Structure
PFLT is managed by PennantPark Investment Advisers, LLC. The leadership team includes Arthur Penn as Chairman and CEO. The structure is that of a publicly traded BDC, regulated under the Investment Company Act of 1940.
Top Products and Market Share
Key Offerings
- First Lien Senior Secured Loans: These are senior loans, meaning they have first priority in repayment. They are floating rate, providing protection against rising interest rates. Market share information specific to PFLT for this loan type is not publicly available. Competitors include other BDCs like Ares Capital (ARCC) and Golub Capital BDC (GBDC).
- Second Lien Senior Secured Loans: These are also senior loans, but rank second in priority. They carry higher interest rates to compensate for the increased risk. Market share information is not publicly available. Competitors include other BDCs offering similar loan structures.
Market Dynamics
Industry Overview
The BDC industry is characterized by intense competition, regulatory scrutiny, and sensitivity to economic conditions. Middle market lending is crucial for smaller businesses and is generally a stable market.
Positioning
PFLT focuses on floating rate loans, which positions it favorably in rising interest rate environments. They target middle market companies which are less susceptible to large market swings. Their competitive advantage lies in experienced management and a well-diversified portfolio.
Total Addressable Market (TAM)
The TAM for middle market lending is estimated to be in the hundreds of billions of dollars. PFLT is positioned to capture a portion of this market by focusing on senior secured loans with floating rates and disciplined credit analysis.
Upturn SWOT Analysis
Strengths
- Experienced management team
- Focus on floating rate loans
- Diversified portfolio
- Proven track record of credit selection
Weaknesses
- High operating expenses compared to some peers
- Dependence on external management
- Sensitivity to credit market conditions
Opportunities
- Growing demand for direct lending
- Increasing interest rates benefiting floating rate portfolio
- Potential acquisitions of smaller BDCs
- Expansion into new lending sectors
Threats
- Economic recession increasing defaults
- Rising interest rates impacting borrowers
- Increased competition from other BDCs
- Regulatory changes affecting BDCs
Competitors and Market Share
Key Competitors
- ARCC
- GBDC
- OXSQ
- TPVG
Competitive Landscape
PFLT competes with other BDCs for investment opportunities. It is smaller than some of its larger peers such as ARCC and has focused its growth in middle market companies.
Growth Trajectory and Initiatives
Historical Growth: Historical growth trends require access to the latest financial data. Please see the provided data sources in the sources and disclaimer section to view.
Future Projections: Future projections require access to the latest financial data. Please see the provided data sources in the sources and disclaimer section to view.
Recent Initiatives: Recent initiatives require access to the latest financial data. Please see the provided data sources in the sources and disclaimer section to view.
Summary
PennantPark Floating Rate Capital (PFLT) is a BDC specializing in floating rate loans to middle market companies. A key strength is its floating-rate focus, beneficial in rising rate environments. It is externally managed and operates in a competitive market with regulatory oversight, which are key watch-outs. Its financial performance depends heavily on economic conditions and credit quality, requiring careful monitoring.
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Sources and Disclaimers
Data Sources:
- SEC Filings (10-K, 10-Q)
- Company Website
- Industry Reports
Disclaimers:
The information provided is for informational purposes only and should not be considered financial advice. Market share data is estimated and may not be precise. Financial data is based on publicly available information. Past performance is not indicative of future results. Data may be outdated, and accuracy cannot be guaranteed. Consult with a qualified financial advisor before making investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About PennantPark Floating Rate Capital Ltd
Exchange NYSE | Headquaters Miami Beach, FL, United States | ||
IPO Launch date 2011-04-08 | Founder, Chairman & CEO Mr. Arthur Howard Penn | ||
Sector Financial Services | Industry Asset Management | Full time employees - | Website https://pflt.pennantpark.com |
Full time employees - | Website https://pflt.pennantpark.com | ||
PennantPark Floating Rate Capital Ltd. is a business development company. It seeks to make secondary direct, debt, equity, and loan investments. The fund seeks to invest through floating rate loans in private or thinly traded or small market-cap, public middle market companies. It primarily invests in the United States and to a limited extent non-U.S. companies. The fund typically invests between $2 million and $20 million. The fund also invests in equity securities, such as preferred stock, common stock, warrants or options received in connection with debt investments or through direct investments. It primarily invests between $10 million and $50 million in investments in senior secured loans and mezzanine debt. It seeks to invest in companies not rated by national rating agencies. The companies if rated would be between BB and CCC under the Standard & Poor's system. The fund invests 30% is invested in non-qualifying assets like investments in public companies whose securities are not thinly traded or do not have a market capitalization of less than $250 million, securities of middle-market companies located outside of the United States, high-yield bonds, distressed debt, private equity, securities of public companies that are not thinly traded, and investment companies as defined in the 1940 Act. Under normal conditions, the fund expects atleast 80 percent of its net assets plus any borrowings for investment purposes to be invested in Floating Rate Loans and investments with similar economic characteristics, including cash equivalents invested in money market funds. It expects to represent 65 percent of its portfolio through senior secured loans. In case of floating rate loans, it holds investments for a period of three to ten years.
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