PNNT

MKT CAP:$297M

PennantPark Investment Corporation

Market Cap

$297M

Financial Services·Asset Management·🇺🇸 United States·NYSE

Financials·Asset Management·🇺🇸·NYSE

Stock Price

$4.55-$1.50 (-24.79%)

Apr 24, 2026

Company Details

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 equi...

CEO

Arthur Howard Penn

IPO Date

Apr 19, 2007

Website

www.pennantpark.com

Key Metrics TTM

Revenue

$94M

-2.8% YoY

Net Income

$42M

EPS (Diluted)

$0.64

Free Cash Flow

$83M

Revenue / Share

$1.43

Gross Margin

53.7%

Operating Margin

47.0%

Net Margin

44.5%

FCF Margin

88.5%

P/S

3.2x

P/E

7.1x

Earnings Reports

Q1 2026

May 7, 2026

PENDING

Q4 2025

Nov 24, 2025

$11M-66.4%EPS -$0.01

Q3 2025

Aug 11, 2025

$20M+11.9%EPS $0.12

Q1 2025

Feb 10, 2025

$30M+38.7%EPS $0.25

FY 2024

Nov 25, 2024

$104M+438.9%EPS $0.75

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$32M	$26M	$25M
Q1 22	$40M	$33M	$31M
Q2 22	$12M	$5M	$3M
Q3 22	-$1M	-$8M	-$9M
Q4 22	-$27M	-$36M	-$42M
Q1 23	-$60M	-$70M	-$71M
Q2 23	$18M	$7M	$6M
Q3 23	$36M	$26M	$24M
Q4 23	$25M	$16M	$15M
Q1 24	$22M	$12M	$11M
Q2 24	$32M	$20M	$18M
Q3 24	$17M	$6M	$4M
Q4 24	$33M	$20M	$19M
Q1 25	$30M	$19M	$17M
Q3 25	$20M	$10M	$9M
Q4 25	$11M	$930.0K	-$370.0K

Valuation

Quarter	P/S	P/E
Q4 21	1.5x	1.8x
Q1 22	1.9x	2.5x
Q2 22	2.4x	3.5x
Q3 22	3.6x	8.4x
Q4 22	12.5x	—
Q1 23	—	—
Q2 23	—	—
Q3 23	—	—
Q4 23	15.5x	—
Q1 24	2.9x	6.1x
Q2 24	2.6x	5.0x
Q3 24	3.1x	7.0x
Q4 24	2.9x	6.1x
Q1 25	2.7x	5.5x
Q3 25	3.0x	6.4x
Q4 25	3.2x	7.1x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	-$88M	-$88M
Q1 22	-$177M	-$177M
Q2 22	$267M	$267M
Q3 22	-$187M	-$187M
Q4 22	$78M	$78M
Q1 23	-$10M	-$10M
Q2 23	$70M	$70M
Q3 23	$55M	$55M
Q4 23	$132M	$132M
Q1 24	-$155M	-$155M
Q2 24	$4M	$4M
Q3 24	-$17M	-$17M
Q4 24	-$5M	-$5M
Q1 25	$19M	$19M
Q3 25	$51M	$51M
Q4 25	$17M	$17M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	+66.1%	-29.8%
Q1 22	-48.0%	+54.9%
Q2 22	-73.2%	+42.5%
Q3 22	-103.3%	-1.7%
Q4 22	-185.3%	+125.6%
Q1 23	-248.8%	+13.7%
Q2 23	+50.4%	+39.2%
Q3 23	+2813.2%	+55.8%
Q4 23	+193.4%	-28.8%
Q1 24	+136.5%	+1.1%
Q2 24	+75.7%	+15.2%
Q3 24	-51.3%	+7.9%
Q4 24	+29.2%	+33.0%
Q1 25	+38.7%	+23.1%
Q3 25	-38.4%	-22.5%
Q4 25	-37.0%	-12.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$0	0.0%
Q1 22	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$0	—
Q4 22	$0	—
Q1 23	$0	—
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A
Q4 21	$898.5K
Q1 22	$973.0K
Q2 22	$973.0K
Q3 22	$973.0K
Q4 22	$973.0K
Q1 23	$1M
Q2 23	$1M
Q3 23	$2M
Q4 23	$2M
Q1 24	$1M
Q2 24	$2M
Q3 24	$1M
Q4 24	$2M
Q1 25	$2M
Q3 25	$2M
Q4 25	$1M

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$26M	$0	$26M
Q3 22	$30M	$0	$30M
Q4 22	$55M	$0	$55M
Q1 23	$29M	$0	$29M
Q2 23	$63M	$0	$63M
Q3 23	$43M	$0	$43M
Q4 23	$39M	$0	$39M
Q1 24	$37M	$0	$37M
Q2 24	$35M	$0	$35M
Q3 24	$59M	$0	$59M
Q4 24	$50M	$0	$50M
Q1 25	$56M	$0	$56M
Q2 25	$33M	$0	$33M
Q3 25	$71M	$0	$71M
Q4 25	$52M	$0	$52M
Q1 26	$18M	$0	$18M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	67M	0.0%	0.0%
Q1 22	67M	0.0%	0.0%
Q2 22	67M	-0.4%	-0.4%
Q3 22	66M	-1.3%	-1.7%
Q4 22	67M	+1.9%	+0.2%
Q1 23	65M	-2.9%	-2.7%
Q2 23	65M	0.0%	-2.3%
Q3 23	65M	0.0%	-1.0%
Q4 23	65M	0.0%	-2.9%
Q1 24	65M	0.0%	0.0%
Q2 24	65M	0.0%	0.0%
Q3 24	65M	+0.0%	+0.0%
Q4 24	65M	+0.3%	+0.3%
Q1 25	65M	-0.2%	+0.1%
Q3 25	65M	0.0%	+0.1%
Q4 25	65M	0.0%	+0.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 21	$16M	2
Q1 22	$20M	2
Q2 22	$6M	2
Q3 22	-$660.5K	2
Q4 22	-$14M	2
Q1 23	-$30M	2
Q2 23	$9M	2
Q3 23	$18M	2
Q4 23	$13M	2
Q1 24	$11M	2
Q2 24	$16M	2
Q3 24	$9M	2
Q4 24	$16M	2
Q1 25	$15M	2
Q3 25	$10M	2
Q4 25	$5M	2

Revenue / Employee