TCPC Valuation

BlackRock TCP Capital Corp

Add to Watchlist

Advanced Chart

7.050

-0.1(-1.399%)1D

Overview
Forecast
Valuation
Earnings

TCPC Relative Valuation

TCPC's fair value is calculated using relative valuation, based on historical P/E and P/S ranges and their premiums/discounts relative to a competitor average, adjusted by weights. If the market price exceeds this fair value range, TCPC is overvalued; if below, it's undervalued.

Historical Valuation

BlackRock TCP Capital Corp (TCPC) is now in the Undervalued zone, suggesting that its current forward PE ratio of 4.27 is considered Undervalued compared with the five-year average of 7.62. The fair price of BlackRock TCP Capital Corp (TCPC) is between 12.41 to 17.98 according to relative valuation methord. Compared to the current price of 7.05 USD , BlackRock TCP Capital Corp is Undervalued By 43.18%.

Relative Value

Fair Zone

12.41-17.98

Current Price：7.05

43.18%

Undervalued

4.27

Trailing

Forward

0.00

EV/EBITDA

BlackRock TCP Capital Corp. (TCPC) has a current EV/EBITDA of 0.00. The 5-year average EV/EBITDA is 0.00. The thresholds are as follows: Strongly Undervalued below 0.00, Undervalued between 0.00 and 0.00, Fairly Valued between 0.00 and 0.00, Overvalued between 0.00 and 0.00, and Strongly Overvalued above 0.00. The current Forward EV/EBITDA of 0.00 falls within the Strongly Undervalued range.

0.00

EV/EBIT

BlackRock TCP Capital Corp. (TCPC) has a current EV/EBIT of 0.00. The 5-year average EV/EBIT is 16.22. The thresholds are as follows: Strongly Undervalued below -26.56, Undervalued between -26.56 and -5.17, Fairly Valued between 37.61 and -5.17, Overvalued between 37.61 and 59.00, and Strongly Overvalued above 59.00. The current Forward EV/EBIT of 0.00 falls within the Historic Trend Line -Fairly Valued range.

2.21

BlackRock TCP Capital Corp. (TCPC) has a current PS of 2.21. The 5-year average PS is 3.58. The thresholds are as follows: Strongly Undervalued below 1.92, Undervalued between 1.92 and 2.75, Fairly Valued between 4.41 and 2.75, Overvalued between 4.41 and 5.24, and Strongly Overvalued above 5.24. The current Forward PS of 2.21 falls within the Undervalued range.

5.09

P/OCF

BlackRock TCP Capital Corp. (TCPC) has a current P/OCF of 5.09. The 5-year average P/OCF is 7.36. The thresholds are as follows: Strongly Undervalued below -19.97, Undervalued between -19.97 and -6.31, Fairly Valued between 21.03 and -6.31, Overvalued between 21.03 and 34.70, and Strongly Overvalued above 34.70. The current Forward P/OCF of 5.09 falls within the Historic Trend Line -Fairly Valued range.

0.00

P/FCF

BlackRock TCP Capital Corp. (TCPC) has a current P/FCF of 0.00. The 5-year average P/FCF is 0.00. The thresholds are as follows: Strongly Undervalued below 0.00, Undervalued between 0.00 and 0.00, Fairly Valued between 0.00 and 0.00, Overvalued between 0.00 and 0.00, and Strongly Overvalued above 0.00. The current Forward P/FCF of 0.00 falls within the Strongly Undervalued range.

BlackRock TCP Capital Corp (TCPC) has a current Price-to-Book (P/B) ratio of 0.63. Compared to its 3-year average P/B ratio of 0.85 , the current P/B ratio is approximately -25.72% higher. Relative to its 5-year average P/B ratio of 0.89, the current P/B ratio is about -29.13% higher. BlackRock TCP Capital Corp (TCPC) has a Forward Free Cash Flow (FCF) yield of approximately 27.74%. Compared to its 3-year average FCF yield of 20.89%, the current FCF yield is approximately 32.79% lower. Relative to its 5-year average FCF yield of 15.19% , the current FCF yield is about 82.63% lower.

0.63

P/B

Median3y

0.85

Median5y

0.89

27.74

FCF Yield

Median3y

20.89

Median5y

15.19

Competitors Valuation Multiple

The average P/S ratio for TCPC's competitors is 4.57, providing a benchmark for relative valuation. BlackRock TCP Capital Corp Corp (TCPC) exhibits a P/S ratio of 2.21, which is -51.56% above the industry average. Given its robust revenue growth of -151.13%, this premium appears unsustainable.

P/S

P/E

EV/EBITDA

EV/EBIT

P/S

Revenue Growth

Market Cap

TCPC.O

BlackRock TCP Capital Corp

Bold Eagle Acquisition Corp

Loss

325.08M

MTA.A

Metalla Royalty & Streaming Ltd

Churchill Capital Corp X

Loss

527.79M

AACT.N

Ares Acquisition Corporation II

Loss

703.96M

Performance Decomposition

Market capitalization of TCPC decreased by 18.39% over the past 1 year. The primary factor behind the change was an increase in P/E Change from 7.68 to 19.93.

The secondary factor is the Margin Expansion, contributed -26.75%to the performance.

Overall, the performance of TCPC in the past 1 year is driven by P/E Change. Which is more unsustainable.

-151.13%

-15.58M → 7.96M

Revenue Growth

-26.75%

-272.69 → -199.74

Margin Expansion

159.49%

7.68 → 19.93

P/E Change

-18.39%