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PennantPark Investment Corporation

PennantPark Investment Corporation

NYSE•PNNT
CEO: Mr. Arthur Howard Penn
Sector: Financial Services
Industry: Asset Management
Listing Date: 2007-04-19
PennantPark Investment Corporation, a business development company is a private equity fund specializes in direct and mezzanine investments in middle market companies. It invests in the form of mezzanine debt, senior secured loans, and equity investments. The fund typically invests in buildings and real estate, hotels, gaming and leisure, technology, telecommunications, transportation, information technology services, electronics, healthcare & pharmaceuticals, education and childcare, financial services, printing and publishing, consumer products, business services, energy & Related Services and utilities, distribution, oil and gas, media, environmental services, aerospace and defense, building materials, capital equipment, chemicals, plastics, & rubber, food & beverage, wholesale, manufacturing and basic industries and retail. It invests in equity securities and debt transactions through preferred stock, common stock, warrants, options, senior secured debt, subordinated debt, subordinated loans, first lien debt, mezzanine loans, and distressed debt securities and private equity co-investments. It seeks to invest in companies based in the United States. The fund seeks to invest between $10 million and $100 million cross the capital structure (senior secured loans, subordinated debt, and other investments) in its portfolio companies with EBITDA between $10 to $50 million. Its mezzanine loans, senior secured loans, and other investments in its portfolio companies are between $15 million and $50 million. The fund may also make non-control equity and debt investments.
Contact Information
1691 Michigan Avenue, Suite 500, Miami Beach, FL, 33139, United States
212-905-1000
pnnt.pennantpark.com
Market Cap
$376.76M
P/E (TTM)
11.5
0
Dividend Yield
16.6%
52W High
$7.53
52W Low
$5.66
52W Range
6%
Rank62Top 82.4%
2.3
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 2.3 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q4 2025 Data

Revenue

$6.32M+567.26%
4-Quarter Trend

EPS

-$0.01-105.29%
4-Quarter Trend

FCF

$17.27M-470.82%
4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Portfolio Assets Total $1.29B Total investments reached $1,287.3M as of September 30, 2025; portfolio yield on interest bearing debt investments was 11.0%.
Credit Facility Available $73.5M Unused borrowing capacity under Truist Credit Facility stood at $73.5M as of September 30, 2025; compliance maintained with covenants.
FY 2025 Investment Activity Invested $746.6M across 28 new and 161 existing portfolio companies during fiscal year 2025, excluding U.S. Government Securities.
Asset Coverage Maintained 163% Asset coverage ratio remained compliant at 163% as of September 30, 2025, demonstrating adherence to modified regulatory requirements.

Risk Factors

Net Investment Income Down Net investment income fell to $46.1M in FY 2025, down from $60.1M in FY 2024, primarily due to lower portfolio yield.
Internal Control Material Weakness Material weakness identified in internal controls over financial reporting regarding quarterly equity investment valuations; remediation efforts are underway.
Stock Trades Below NAV Common stock closed at $6.71, representing a discount to NAV per share of $7.11 as of September 30, 2025.
Increased Non-Accruals Noted Four portfolio companies are on non-accrual status as of September 30, 2025, representing 1.3% of total investments at cost.

Outlook

Managing 2026 Debt Maturities Intends to seek alternate financing sources, including issuing additional unsecured notes, to address 2026 Notes and 2026 Notes-2 maturities.
Middle-Market Investment Focus Strategy continues targeting U.S. middle-market companies with average investment size between $10M and $50M for debt and equity.
Management Agreements Reapproved Investment Management and Administration Agreements were reapproved by the Board in May 2025 for another one-year term through May 2026.

Peer Comparison

Revenue (TTM)

CION Investment CorporationCION
$206.17M
+8.1%
Diamond Hill Investment Group, Inc.DHIL
$145.89M
-5.1%
Gladstone Investment CorporationGAIN
$129.67M
+110.0%

Gross Margin (Latest Quarter)

Diamond Hill Investment Group, Inc.DHIL
96.7%
+54.7pp
Gladstone Investment CorporationGAIN
73.3%
+2.6pp
Gladstone Capital CorporationGLAD
71.7%
-14.1pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
GAIN$520.17M5.220.9%39.9%
CION$513.10M18.04.9%0.0%
GLAD$473.11M8.211.9%43.8%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-41.6%
Growth Under Pressure
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Reports
All Years
  • Form 10-K - FY 2025

    Period End: Sep 30, 2025|Filed: Nov 24, 2025|
    Revenue: $69.94M-51.4%
    |
    EPS: $0.50-33.3%
    Beat
  • Form 10-Q - Q3 2025

    Period End: Jun 30, 2025|Filed: Aug 11, 2025|
    Revenue: $29.56M+69.4%
    |
    EPS: $0.12+109.1%
    Miss
  • Form 10-Q - Q2 2025

    Period End: Mar 31, 2025|Filed: May 12, 2025|
    Revenue: $22.26M-21.0%
    |
    EPS: $-0.15-160.0%
    Miss
  • Form 10-K/A - FY 2024

    Period End: Sep 30, 2024|Filed: May 2, 2025|
    Revenue: $103.70M-24.2%
    |
    EPS: $0.75+244.2%
    Beat
  • Form 10-Q - Q1 2025

    Period End: Dec 31, 2024|Filed: Feb 10, 2025|
    Revenue: $31.65M-12.5%
    |
    EPS: $0.25+56.3%
    Meet
  • Form 10-K - FY 2024

    Period End: Sep 30, 2024|Filed: Nov 26, 2024|Refer to amended data
  • Form 10-Q - Q3 2024

    Period End: Jun 30, 2024|Filed: Aug 7, 2024|
    Revenue: $17.44M-32.1%
    |
    EPS: $0.06-82.1%
    Miss
  • Form 10-Q - Q2 2024

    Period End: Mar 31, 2024|Filed: May 8, 2024|
    Revenue: $28.17M+279.2%
    |
    EPS: $0.25+234.7%
    Meet