Pennantpark Invt Corp Financials

PNNT

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE September

This page shows Pennantpark Invt Corp (PNNT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI PNNT FY2025 2026-05-07

PennantPark’s dividend-paying model depends on lumpy operating cash flow while leverage rises against a thinner equity cushion.

Across FY2023-FY2025, dividends paid totaled $179.5M while cumulative net income was only $47.8M, so the payout pattern was not supported by a steady earnings stream. The bridge was volatile operating cash flow, which explains why leverage still pressed higher even after FY2025 returned to positive cash generation.

Cash coverage improved in FY2025: $104.8M of operating cash flow covered $67.9M of dividends after FY2024 showed the opposite mix of positive profit and cash outflow. That swing means earnings quality is shaped heavily by when cash is realized, not just by the income statement result.

Leverage rose from 1.3x to 1.9x between FY2023 and FY2025, showing the balance sheet is leaning more on borrowing than on retained capital. Equity ended FY2025 at $464.0M and cash at $51.8M, leaving a thinner shock absorber than the asset total alone might suggest.

Financial Health Signals

Financial health score pending refresh

We are recalculating Pennantpark Invt Corp's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Piotroski F-Score Partial

4/5

Pennantpark Invt Corp passes 4 of 5 computable financial strength tests (4 of the nine could not be computed from available data). 3 of 4 profitability signals pass, all 1 leverage/liquidity signals pass.

Earnings Quality Cash-Backed

3.20x

For every $1 of reported earnings, Pennantpark Invt Corp generates $3.20 in operating cash flow ($104.8M OCF vs $32.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

N/A

Net Income

$32.7M

YoY-33.0%

Pennantpark Invt Corp reported $32.7M in net income in fiscal year 2025. This represents a decrease of 33.0% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$51.8M

YoY+3.9%

Pennantpark Invt Corp held $51.8M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

65M

YoY+0.0%

5Y CAGR-0.5%

Pennantpark Invt Corp had 65M shares outstanding in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

7.0%

YoY-2.8pp

5Y CAGR+10.1pp

Pennantpark Invt Corp's ROE was 7.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 2.8 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

N/A

PNNT Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$4.3M-11.8%	$4.9M+27.0%	$3.8M+32.7%	$2.9M+24.4%	$2.3M+12.0%	$2.1M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$41.3M-8.6%	$45.2M+14.7%	$39.4M+37.0%	$28.8M+27.8%	$22.5M-30.0%	$32.2M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	$32.7M-33.0%	$48.9M+244.5%	-$33.8M-36.6%	-$24.7M-114.8%	$166.6M+1143.3%	-$16.0M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$1.0M+17.6%	$850K	N/A	$1.1M-8.7%	$1.1M-8.0%	$1.3M	N/A	$1.0M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$8.1M-22.8%	$10.5M	N/A	$9.2M-10.9%	$10.3M-12.1%	$11.7M	N/A	$11.5M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$2.3M-126.0%	$9.0M	N/A	$8.2M-13.8%	$9.5M-41.2%	$16.1M	N/A	$3.7M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

PNNT Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$1.3B-2.8%	$1.4B+20.1%	$1.2B-12.4%	$1.3B+2.0%	$1.3B	N/A
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$51.8M+3.9%	$49.9M+28.6%	$38.8M-29.2%	$54.8M+169.1%	$20.4M	N/A
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$885.6M-1.1%	$895.2M+36.7%	$654.8M-10.9%	$735.1M+15.8%	$634.9M	N/A
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$463.9M-6.1%	$493.9M-1.6%	$502.2M-14.2%	$585.6M-11.3%	$660.1M+25.6%	$525.7M
Retained Earnings	-$276.6M-10.6%	-$250.1M-2.4%	-$244.3M-50.2%	-$162.7M-28.2%	-$126.9M	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$1.3B-2.7%	$1.3B-4.2%	$1.3B+7.7%	$1.3B-0.4%	$1.3B-10.9%	$1.4B+1.7%	$1.4B+4.2%	$1.3B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$29.7M+5.5%	$28.2M-45.5%	$51.8M-26.6%	$70.5M+116.5%	$32.6M-41.7%	$55.9M+12.0%	$49.9M-15.7%	$59.2M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$818.8M-2.1%	$836.3M-5.6%	$885.6M+14.7%	$772.3M+0.3%	$769.7M-16.1%	$917.8M+2.5%	$895.2M+6.4%	$841.5M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$439.2M-3.9%	$457.2M-1.4%	$463.9M-3.5%	$480.6M-1.5%	$488.1M-1.3%	$494.3M+0.1%	$493.9M+0.5%	$491.2M
Retained Earnings	-$301.3M-6.4%	-$283.3M-2.4%	-$276.6M-5.0%	-$263.4M-2.9%	-$255.9M-2.5%	-$249.7M+0.2%	-$250.1M+2.1%	-$255.6M

PNNT Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$104.8M+160.8%	-$172.4M-177.3%	$222.9M+1389.2%	-$17.3M-318.7%	$7.9M+106.1%	-$129.6M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	-$102.9M-156.1%	$183.4M+176.7%	-$239.2M-559.5%	$52.0M+487.7%	-$13.4M-114.0%	$95.8M
Dividends Paid	$67.9M+3.0%	$65.9M+44.3%	$45.7M+31.0%	$34.9M+8.3%	$32.2M-27.3%	$44.3M
Share Buybacks	N/A	$0	$0-100.0%	$13.2M	$0	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	$36.4M-73.0%	$134.5M+224.8%	-$107.8M-309.5%	$51.5M-63.9%	$142.4M+659.5%	$18.7M+502.5%	-$4.7M+72.4%	-$16.9M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	-$37.3M+73.4%	-$140.4M-257.6%	$89.1M+751.7%	-$13.7M+91.7%	-$165.7M-1207.5%	-$12.7M-170.6%	-$4.7M-111.5%	$40.6M
Dividends Paid	$15.7M+50.0%	$10.4M-50.0%	$20.9M+33.3%	$15.7M0.0%	$15.7M0.0%	$15.7M-0.1%	$15.7M+14.5%	$13.7M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

PNNT Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	7.0%-2.8pp	9.9%+16.6pp	-6.7%-2.5pp	-4.2%-29.5pp	25.2%+28.3pp	-3.0%
Return on Assets	2.4%-1.1pp	3.5%+6.4pp	-2.9%-1.0pp	-1.9%-14.7pp	12.9%	N/A
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.91+0.1	1.81+0.5	1.30+0.0	1.26+0.3	0.96	N/A
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	-0.5%-2.5pp	2.0%	N/A	1.7%-0.2pp	1.9%-1.3pp	3.3%	N/A	0.8%
Return on Assets	-0.2%-0.9pp	0.7%	N/A	0.7%-0.1pp	0.8%-0.4pp	1.1%	N/A	0.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.86+0.0	1.83-0.1	1.91+0.3	1.61+0.0	1.58-0.3	1.86+0.0	1.81+0.1	1.71
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

Is Pennantpark Invt Corp profitable?

Yes, Pennantpark Invt Corp (PNNT) reported a net income of $32.7M in fiscal year 2025.

What is Pennantpark Invt Corp's return on equity (ROE)?

Pennantpark Invt Corp (PNNT) has a return on equity of 7.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Pennantpark Invt Corp's operating cash flow?

Pennantpark Invt Corp (PNNT) generated $104.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Pennantpark Invt Corp's total assets?

Pennantpark Invt Corp (PNNT) had $1.3B in total assets as of fiscal year 2025, including both current and long-term assets.

How many shares does Pennantpark Invt Corp have outstanding?

Pennantpark Invt Corp (PNNT) had 65M shares outstanding as of fiscal year 2025.

What is Pennantpark Invt Corp's debt-to-equity ratio?

Pennantpark Invt Corp (PNNT) had a debt-to-equity ratio of 1.91 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Pennantpark Invt Corp's return on assets (ROA)?

Pennantpark Invt Corp (PNNT) had a return on assets of 2.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Pennantpark Invt Corp's Piotroski F-Score?

Pennantpark Invt Corp (PNNT) has a Piotroski F-Score of 4 out of 5 computable signals; 4 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Pennantpark Invt Corp's earnings high quality?

Pennantpark Invt Corp (PNNT) has an earnings quality ratio of 3.20x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.