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TheStreet Open House
Apollo Investment Corp
AINV : NASDAQ : Financial
$8.54 | %
Today's Range: 0.00 - 0.00
Avg. Daily Volume: 2,511,900
09/17/14 - 4:00 PM ET

Financial Analysis


APOLLO INVESTMENT CORP's gross profit margin for the first quarter of its fiscal year 2014 is essentially unchanged when compared to the same period a year ago. The company managed to grow both sales and net income at a faster pace than the average competitor in its industry this quarter as compared to the same quarter a year ago.

During the same period, stockholders' equity ("net worth") has increased by 12.85% from the same quarter last year.

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Income Statement Q1 FY14 Q1 FY13
Net Sales ($mil)100.5896.67
EBITDA ($mil)70.4568.21
EBIT ($mil)70.4568.21
Net Income ($mil)64.6418.8


Balance Sheet Q1 FY14 Q1 FY13
Cash & Equiv. ($mil)10.1815.23
Total Assets ($mil)3812.353153.68
Total Debt ($mil)1571.021125.49
Equity ($mil)2068.871833.17


Profitability Q1 FY14 Q1 FY13
Gross Profit Margin70.0570.56
EBITDA Margin70.0470.55
Operating Margin70.0570.56
Sales Turnover0.10.11
Return on Assets8.34.27
Return on Equity15.37.35
Debt Q1 FY14 Q1 FY13
Current Ratio0.00.0
Debt/Capital0.430.38
Interest Expense18.915.85
Interest Coverage3.734.31


Share Data Q1 FY14 Q1 FY13
Shares outstanding (mil)236.74224.74
Div / share0.20.2
EPS0.270.09
Book value / share8.748.16
Institutional Own % n/a n/a
Avg Daily Volume2515942.02477475.0

Valuation


BUY. APOLLO INVESTMENT CORP's P/E ratio indicates a significant discount compared to an average of 54.28 for the Capital Markets industry and a significant discount compared to the S&P 500 average of 19.69. Conducting a second comparison, its price-to-book ratio of 1.01 indicates a significant discount versus the S&P 500 average of 2.72 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 6.53 Peers 54.28   AINV NM Peers 14.78

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 9.79 Peers 16.65   AINV NM Peers 1.29

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.

 

Neutral. 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's negative PEG ratio makes this valuation measure meaningless.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
AINV 1.01 Peers 2.18   AINV 110.93 Peers -15.33

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.

 

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

AINV is expected to have an earnings growth rate that significantly exceeds its peers.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
AINV 5.41 Peers 3.61   AINV 10.59 Peers 7.19

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 significant premium to its industry.

 

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

AINV has a sales growth rate that significantly exceeds its peers.

 

 

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