TCG BDC Reports Strong Q2 Earnings for FY2023
August 11, 2023
☀️Earnings Overview
On June 30, 2023, TCG BDC ($NASDAQ:CGBD) announced their financial results for the second quarter of fiscal year 2023, revealing a 3.9% increase in total revenue from the same period in the prior year, totaling USD 7.5 million. Net income for the quarter also grew 1.1% year over year, amounting to USD 4.7 million.
Share Price
On Tuesday, TCG BDC reported strong Q2 earnings for FY2023, with the stock opening at $15.6 and closing at $15.4, down by 1.2% from previous closing price of 15.6. The company attributed this strong performance to its focus on cost efficiency and improved margins. Furthermore, strong operational execution across its core business segments drove the impressive results. This result provides a positive outlook for the company as it continues to execute its strategic plan in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Tcg Bdc. More…
| Total Revenues | Net Income | Net Margin |
| 93.94 | 79.49 | 88.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Tcg Bdc. More…
| Operations | Investing | Financing |
| 169.8 | – | -154.94 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Tcg Bdc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.98k | 1.08k | 17.71 |
Key Ratios Snapshot
Some of the financial key ratios for Tcg Bdc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 11.3% | – | – |
| FCF Margin | ROE | ROA |
| 180.7% | 5.9% | 2.7% |
Analysis
At GoodWhale, we have conducted an analysis of TCG BDC‘s financials. Our Star Chart presents a strong for its dividend, medium in growth and weak in asset and profitability. Based on this data, we have classified TCG BDC as a ‘cow’, a type of company which has the track record of paying out consistent and sustainable dividends. Investors looking for these types of companies may find TCG BDC to be an appealing option. Additionally, we have given the company an intermediate health score of 4/10 considering its cash flows and debt, suggesting that it is likely to pay off debt and fund future operations. More…
Peers
Carlyle’s unique focus on secured lending allows it to provide loans with terms and conditions that are tailored to the needs of each borrower. Carlyle’s competitors in the secured lending space include Main Street Capital Corp, Equus Total Return Inc, and Sierra Income Corp.
– Main Street Capital Corp ($NYSE:MAIN)
Main Street Capital Corporation is a publicly traded business development company that provides long-term debt and equity financing solutions for lower middle market companies. Headquartered in Houston, Texas, Main Street’s investment objective is to maximize total return by generating both current income from its debt investments and long-term capital appreciation from its equity investments. The company invests primarily in privately held companies and real estate ventures.
Main Street Capital Corporation’s market capitalization is $2.74 billion as of 2022. The company’s return on equity is 9.9%. Main Street Capital Corporation’s investment objective is to maximize total return by generating both current income from its debt investments and long-term capital appreciation from its equity investments. The company invests primarily in privately held companies and real estate ventures.
– Equus Total Return Inc ($NYSE:EQS)
Equus Total Return Inc. is a closed-end investment company. The Company’s investment objective is to provide total return through a combination of current income and capital appreciation. The Company invests in a portfolio of middle market companies. The Company also invests in real estate investment trusts (REITs), oil and gas properties, and other energy-related investments.
Summary
TCG BDC recently released their Q2 earnings for FY2023, indicating a positive financial performance. Revenue increased 3.9% from the same period last year to USD 7.5 million. Net income also increased 1.1% to USD 4.7 million.
Investment analysts are encouraged by this news, suggesting that TCG BDC’s diversified portfolio and strong management team have provided a steady stream of returns. While there may be some short-term volatility due to the current market conditions, investors remain optimistic that the company will continue to generate returns in the long-term.
