PSEC FY 2018 Earnings Report — Prospect Capital Corporation Revenue & Financial Results | Market Cap Arena

Prospect Capital CorporationPSEC

FY 2018 Earnings

Reported August 28, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$489M	—	$455M	—	7.3%
Op. Income	$300M	—	$253M	—	18.6%
Gross Margin	68.3%	—	68.6%	—	-0.3pp
Net Margin	61.4%	—	55.5%	—	5.8pp
EPS (Diluted)	$0.83	—	$0.70	—	18.6%
Free Cash Flow	$369M	—	$376M	—	-1.9%

Revenue Flow

Item	Amount
REVENUE	$489M
Cost of Revenue	$155M
GROSS PROFIT	$334M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$26M
SG&A Expenses	$26M
Other Expenses	$8M
Operating Expenses	$34M
Cost & Expenses	$189M
OPERATING INCOME	$300M
Interest Income	$607M
Interest Expense	$155M
Other Income/Expenses	$0
INCOME BEFORE TAX	$300M
Income Tax Expense	$0
Net Income from Continuing Ops	$300M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$300M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$300M
D&A	$0
EBIT	$300M
EBITDA	$300M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$489M
Cost of Revenue	$155M
GROSS PROFIT	$334M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$26M
SG&A Expenses	$26M
Other Expenses	$8M
Operating Expenses	$34M
Cost & Expenses	$189M
OPERATING INCOME	$300M
Interest Income	$607M
Interest Expense	$155M
Other Income/Expenses	$0
INCOME BEFORE TAX	$300M
Income Tax Expense	$0
Net Income from Continuing Ops	$300M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$300M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$300M
D&A	$0
EBIT	$300M
EBITDA	$300M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$300M
Depreciation & Amortization	$0
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$131M
Change in Working Capital	-$62M
OPERATING CASH FLOW	$369M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	$0
Net Debt Issuance	-$335M
Common Stock Repurchased	$0
Common Dividends Paid	-$256M
Other Financing Activities	-$12M
NET CASH FROM FINANCING	-$603M
FREE CASH FLOW	$369M
Net Change in Cash	-$234M

Balance Sheet

Item	Amount
Cash & Equivalents	$84M
Short-Term Investments	$0
Net Receivables	$25M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$110M
PP&E (Net)	$0
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$5.7B
TOTAL NON-CURRENT ASSETS	$5.7B
TOTAL ASSETS	$5.8B
Account Payables	$56M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$56M
Long-Term Debt	$2.3B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$64M
TOTAL NON-CURRENT LIABILITIES	$2.4B
TOTAL LIABILITIES	$2.4B
Common Stock	$364.0K
Additional Paid-In Capital	$4.0B
Retained Earnings	-$615M
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.4B
Minority Interest	$0
TOTAL EQUITY	$3.4B
TOTAL LIABILITIES & EQUITY	$5.8B
Total Debt	$2.3B
Net Debt	$2.2B