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BlackRock TCP Capital (BlackRock TCP Capital) Cyclically Adjusted PS Ratio : 5.94 (As of Apr. 27, 2024)


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What is BlackRock TCP Capital Cyclically Adjusted PS Ratio?

As of today (2024-04-27), BlackRock TCP Capital's current share price is $10.09. BlackRock TCP Capital's Cyclically Adjusted Revenue per Share for the quarter that ended in Dec. 2023 was $1.70. BlackRock TCP Capital's Cyclically Adjusted PS Ratio for today is 5.94.

The historical rank and industry rank for BlackRock TCP Capital's Cyclically Adjusted PS Ratio or its related term are showing as below:

TCPC' s Cyclically Adjusted PS Ratio Range Over the Past 10 Years
Min: 5.19   Med: 6.74   Max: 9.06
Current: 5.84

During the past years, BlackRock TCP Capital's highest Cyclically Adjusted PS Ratio was 9.06. The lowest was 5.19. And the median was 6.74.

TCPC's Cyclically Adjusted PS Ratio is ranked better than
57.88% of 876 companies
in the Asset Management industry
Industry Median: 7.44 vs TCPC: 5.84

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

BlackRock TCP Capital's adjusted revenue per share data for the three months ended in Dec. 2023 was $-0.170. Add all the adjusted revenue per share for the past 10 years together and divide 10 will get our Cyclically Adjusted Revenue per Share, which is $1.70 for the trailing ten years ended in Dec. 2023.

Shiller PE for Stocks: The True Measure of Stock Valuation


BlackRock TCP Capital Cyclically Adjusted PS Ratio Historical Data

The historical data trend for BlackRock TCP Capital's Cyclically Adjusted PS Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

BlackRock TCP Capital Cyclically Adjusted PS Ratio Chart

BlackRock TCP Capital Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only - 7.09 6.87 6.80 6.78

BlackRock TCP Capital Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 6.80 5.49 5.88 6.48 6.78

Competitive Comparison of BlackRock TCP Capital's Cyclically Adjusted PS Ratio

For the Asset Management subindustry, BlackRock TCP Capital's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


BlackRock TCP Capital's Cyclically Adjusted PS Ratio Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, BlackRock TCP Capital's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where BlackRock TCP Capital's Cyclically Adjusted PS Ratio falls into.



BlackRock TCP Capital Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

BlackRock TCP Capital's Cyclically Adjusted PS Ratio for today is calculated as

Cyclically Adjusted PS Ratio=Share Price/ Cyclically Adjusted Revenue per Share
=10.09/1.7
=5.94

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

BlackRock TCP Capital's Cyclically Adjusted Revenue per Share for the quarter that ended in Dec. 2023 is calculated as:

For example, BlackRock TCP Capital's adjusted Revenue per Share data for the three months ended in Dec. 2023 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Dec. 2023 (Change)*Current CPI (Dec. 2023)
=-0.17/129.4194*129.4194
=-0.170

Current CPI (Dec. 2023) = 129.4194.

BlackRock TCP Capital Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201403 0.677 99.695 0.879
201406 0.482 100.560 0.620
201409 0.415 100.428 0.535
201412 0.001 99.070 0.001
201503 0.509 99.621 0.661
201506 0.568 100.684 0.730
201509 0.496 100.392 0.639
201512 0.276 99.792 0.358
201603 0.363 100.470 0.468
201606 0.564 101.688 0.718
201609 0.525 101.861 0.667
201612 0.662 101.863 0.841
201703 0.494 102.862 0.622
201706 0.500 103.349 0.626
201709 0.375 104.136 0.466
201712 0.457 104.011 0.569
201803 0.521 105.290 0.640
201806 0.108 106.317 0.131
201809 0.301 106.507 0.366
201812 0.043 105.998 0.053
201903 0.466 107.251 0.562
201906 -0.146 108.070 -0.175
201909 0.351 108.329 0.419
201912 0.040 108.420 0.048
202003 -1.127 108.902 -1.339
202006 0.843 108.767 1.003
202009 0.883 109.815 1.041
202012 0.885 109.897 1.042
202103 0.671 111.754 0.777
202106 0.987 114.631 1.114
202109 0.331 115.734 0.370
202112 0.620 117.630 0.682
202203 0.272 121.301 0.290
202206 0.036 125.017 0.037
202209 0.486 125.227 0.502
202212 -0.777 125.222 -0.803
202303 0.446 127.348 0.453
202306 0.318 128.729 0.320
202309 0.251 129.860 0.250
202312 -0.170 129.419 -0.170

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.


BlackRock TCP Capital  (NAS:TCPC) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


BlackRock TCP Capital Cyclically Adjusted PS Ratio Related Terms

Thank you for viewing the detailed overview of BlackRock TCP Capital's Cyclically Adjusted PS Ratio provided by GuruFocus.com. Please click on the following links to see related term pages.


BlackRock TCP Capital (BlackRock TCP Capital) Business Description

Traded in Other Exchanges
Address
2951 28th Street, Suite 1000, Santa Monica, CA, USA, 90405
BlackRock TCP Capital Corp is an externally-managed specialty finance company focused on middle-market lending. Its investment objective is to achieve high total returns through current income and capital appreciation, with an emphasis on principal protection. It seeks to achieve our investment objective primarily through investments in debt securities of middle-market companies. The group generates returns through a combination of the receipt of contractual interest payments on debt investments and origination and similar fees, and, to a lesser extent, equity appreciation through options, warrants, conversion rights or direct equity investments.
Executives
Karen L Leets director 125 SOUTH FRANKLIN STREET, CHICAGO IL 60606
Rajneesh Vig officer: Authorized Person, other: Officer of Advisor C/O TENNENBAUM CAPITAL PARTNERS, LLC, 2951 28TH STREET, SUITE 1000, SANTA MONICA X1 90405
Karyn Leigh Williams director C/O TENNENBAUM CAPITAL PARTNERS, 2951 28TH STREET, SUITE 1000, SANTA MONICA CA 90405
Erik L. Cuellar officer: Chief Financial Officer 2951 28TH STREET, SUITE 1000, SANTA MONICA CA 90405
Andrea Petro director C/O READY CAPITAL CORPORATION, 1251 AVENUE OF THE AMERICAS, 50TH FL., NEW YORK NY 10020
Philip M Tseng officer: Chief Operating Officer C/O TENNENBAUM CAPITAL PARTNERS, LLC, 2951 28TH STREET, SUITE 1000, SANTA MONICA CA 90405
Charles Park officer: CCO 55 EAST 52ND STREET, NEW YORK NY 10055
Howard Levkowitz director, officer: Chairman & CEO C/O TENNENBAUM CAPITAL PARTNERS, LLC, 2951 28TH STREET, SUITE 1000, SANTA MONICA CA 90405
Kathleen A Corbet director C/O ALLIANCE CAPITAL, 1345 AVENUE OF THE AMERICAS, NEW YORK NY 10105
Paul L Davis officer: Chief Compliance Officer, other: Officer of Investment Adviser TENNENBAUM CAPITAL PARTNERS, LLC, 2951 28TH STREET, STE 1000, SANTA MONICA CA 90405
Brian F Wruble director TENNENBAUM CAPITAL PARTNERS, LLC, 2951 28TH STREET, SUITE 1000, SANTA MONICA CA 90405
Michael E Leitner officer: Authorized Person, other: Officer of Adviser C/O TENNENBAUM CAPITAL PARTNERS, LLC, 2951 28TH ST., SUITE 1000, SANTA MONICA CA 90405
Eric John Draut director 340 EAST RANDOLPH, SUITE 3101, CHICAGO IL 60601
Mark Holdsworth officer: Authorized Person, other: Officer of Investment Adviser 140 S. LAKE AVE., STE. 304, PASADENA CA 91101
M. Freddie Reiss director 2951 28TH STREET, SUITE 1000, SANTA MONICA CA 90405

BlackRock TCP Capital (BlackRock TCP Capital) Headlines