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Apollo Investment Corp
AINV : NASDAQ : Financial

$8.15 | %
Today's Range: 8.11 - 8.20
Avg. Daily Volume: 3,641,700
04/17/14 - 4:00 PM ET

Financial Analysis


APOLLO INVESTMENT CORP's gross profit margin for the third quarter of its fiscal year 2013 is essentially unchanged when compared to the same period a year ago. Sales and net income have grown, and although the growth in revenues has outpaced the average competitor within the industry, the net income growth has not.

During the same period, stockholders' equity ("net worth") has increased by 16.53% from the same quarter last year.

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Income Statement Q3 FY13 Q3 FY12
Net Sales ($mil)94.5683.21
EBITDA ($mil)67.0556.73
EBIT ($mil)67.0556.73
Net Income ($mil)105.74-22.74


Balance Sheet Q3 FY13 Q3 FY12
Cash & Equiv. ($mil)12.6141.52
Total Assets ($mil)3379.72779.5
Total Debt ($mil)1261.291040.94
Equity ($mil)1925.341652.15


Profitability Q3 FY13 Q3 FY12
Gross Profit Margin70.9168.18
EBITDA Margin70.968.17
Operating Margin70.9168.18
Sales Turnover0.110.12
Return on Assets7.895.6
Return on Equity13.859.43
Debt Q3 FY13 Q3 FY12
Current Ratio0.00.0
Debt/Capital0.40.39
Interest Expense17.3714.65
Interest Coverage3.863.87


Share Data Q3 FY13 Q3 FY12
Shares outstanding (mil)224.74202.89
Div / share0.20.2
EPS0.45-0.11
Book value / share8.578.14
Institutional Own % n/a n/a
Avg Daily Volume3521165.01504855.0

Valuation


HOLD. APOLLO INVESTMENT CORP's P/E ratio indicates a significant discount compared to an average of 21.53 for the Capital Markets industry and a significant discount compared to the S&P 500 average of 18.29. Conducting a second comparison, its price-to-book ratio of 0.95 indicates a significant discount versus the S&P 500 average of 2.52 and a discount versus the industry average of 2.18. The price-to-sales ratio is well above both the S&P 500 average and the industry average, indicating a premium. Upon assessment of these and other key valuation criteria, APOLLO INVESTMENT CORP proves to trade at a discount to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
AINV 6.87 Peers 21.53   AINV NM Peers 18.15

Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations.

AINV is trading at a significant discount to its peers.

 

Neutral. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

AINV's P/CF is negative making the measure meaningless.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
AINV 9.27 Peers 14.93   AINV 0.09 Peers 0.92

Discount. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth expectations.

AINV is trading at a significant discount to its peers.

 

Discount. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

AINV trades at a significant discount to its peers.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
AINV 0.95 Peers 2.18   AINV 51.28 Peers 1141.75

Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

AINV is trading at a significant discount to its peers.

 

Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

However, AINV is expected to significantly trail its peers on the basis of its earnings growth rate.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
AINV 4.93 Peers 4.10   AINV 11.12 Peers 9.20

Premium. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

AINV is trading at a premium to its industry on this measurement.

 

Higher. A sales growth rate that exceeds the industry implies that a company is gaining market share.

AINV has a sales growth rate that exceeds its peers.

 

 

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