Horizon Technology Finance Corporation
Find Ratings ReportsHORIZON TECHNOLOGY FINANCE's gross profit margin for the third quarter of its fiscal year 2023 has increased when compared to the same period a year ago. Even though sales increased, the net income has decreased, representing a decrease to the bottom line.
During the same period, stockholders' equity ("net worth") has increased by 12.63% from the same quarter last year.
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Income Statement | Q3 FY23 | Q3 FY22 |
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Net Sales ($mil) | 29.14 | 23.25 |
EBITDA ($mil) | 24.46 | 16.47 |
EBIT ($mil) | 24.46 | 16.47 |
Net Income ($mil) | -11.98 | 5.99 |
Balance Sheet | Q3 FY23 | Q3 FY22 |
---|---|---|
Cash & Equiv. ($mil) | 50.11 | 33.19 |
Total Assets ($mil) | 797.24 | 681.39 |
Total Debt ($mil) | 435.5 | 359.01 |
Equity ($mil) | 346.58 | 307.69 |
Profitability | Q3 FY23 | Q3 FY22 |
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Gross Profit Margin | 83.95 | 70.84 |
EBITDA Margin | 83.94 | 70.84 |
Operating Margin | 83.95 | 70.84 |
Sales Turnover | 0.14 | 0.11 |
Return on Assets | -0.31 | 2.84 |
Return on Equity | -0.72 | 6.3 |
Debt | Q3 FY23 | Q3 FY22 |
---|---|---|
Current Ratio | 0.0 | 0.0 |
Debt/Capital | 0.56 | 0.54 |
Interest Expense | 7.11 | 5.34 |
Interest Coverage | 3.44 | 3.09 |
Share Data | Q3 FY23 | Q3 FY22 |
---|---|---|
Shares outstanding (mil) | 33.31 | 26.39 |
Div / share | 0.33 | 0.3 |
EPS | -0.37 | 0.23 |
Book value / share | 10.41 | 11.66 |
Institutional Own % | n/a | n/a |
Avg Daily Volume | 264442.0 | 211070.0 |
HOLD. This stock’s P/E ratio is negative, making its value useless in the assessment of premium or discount valuation, only displaying that the company has negative earnings per share. For additional comparison, its price-to-book ratio of 1.11 indicates a significant discount versus the S&P 500 average of 4.68 and a significant discount versus the subsector average of 3.54. The price-to-sales ratio is well above the S&P 500 average, but well below the subsector average. After reviewing these and other key valuation criteria, HORIZON TECHNOLOGY FINANCE proves to trade at a discount to investment alternatives.
Price/Earnings |
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Price/Cash Flow |
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HRZN NM | Peers 49.70 | HRZN NM | Peers 29.90 | |||||||||||||||||||||
Neutral. The absence of a valid P/E ratio happens when a stock can not be valued on the basis of a negative stream of earnings. HRZN's P/E is negative making this valuation measure meaningless. |
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. HRZN's P/CF is negative making the measure meaningless. |
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Price/Projected Earnings |
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Price to Earnings/Growth |
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HRZN 8.01 | Peers 19.20 | HRZN NA | Peers 1.61 | |||||||||||||||||||||
Discount. A lower price-to-projected earnings ratio than its peers can signify a less expensive stock or lower future growth expectations. HRZN 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. Ratio not available. |
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Price/Book |
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Earnings Growth |
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HRZN 1.11 | Peers 3.54 | HRZN -102.46 | Peers 71.14 | |||||||||||||||||||||
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. HRZN 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, HRZN is expected to significantly trail its peers on the basis of its earnings growth rate. |
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Price/Sales |
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Sales Growth |
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HRZN 3.54 | Peers 5.47 | HRZN 48.56 | Peers 38.40 | |||||||||||||||||||||
Discount. 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. HRZN is trading at a significant discount to its subsector on this measurement. |
Higher. A sales growth rate that exceeds the subsector implies that a company is gaining market share. HRZN has a sales growth rate that significantly exceeds its peers. |
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