PennantPark Floating Rate Capital Ltd. (PFLT) Balance Sheet
PFLT balance sheet, FY2025
September 30, 2025 · U.S. dollars$2.91B assets = $1.84B liabilities + $1.07B equity
Both columns are drawn to the same scale: what PFLT owns equals what it owes plus shareholders’ equity. Hover a block for its value.
PFLT financial health
Descriptive bands, not a rating. Fiscal FY2025.
PFLT balance sheet trends, FY2016–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $631.4MFY2016 | $2.91BFY2025 | +18.5%/yr | |
| Total liabilities | $255.5MFY2016 | $1.84BFY2025 | +24.5%/yr | |
| Shareholders’ equity | $375.9MFY2016 | $1.07BFY2025 | +12.4%/yr | |
| Cash & short-term investments | $28.9MFY2016 | $122.7MFY2025 | +17.4%/yr | |
| Total debt | $464.8MFY2016 | $1.78BFY2025 | +16.1%/yr | |
| Net cash (debt) | −$435.9MFY2016 | −$1.65BFY2025 | −$1.2B | |
| Working capital | −$223.0MFY2016 | $90.2MFY2025 | +$313.1M | |
| Book value per share | $14.06FY2016 | $11.61FY2025 | −2.1%/yr | |
| Current ratio | 0.13FY2016 | 2.94FY2025 | +2.82 | |
| Debt / equity | 1.24FY2016 | 1.65FY2025 | +0.42 | |
| Shares outstanding | 26.7MFY2016 | 92.5MFY2025 | +14.8%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
PFLT assets
PFLT liabilities and equity
PFLT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
PFLT balance sheet
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $122.7M | $112.0M | $100.6M | $51.5M | $49.8M | $57.5M | $63.3M | $72.2M | $18.9M | $28.9M |
| Cash & equivalents | $122.7M | $112.0M | $100.6M | $51.5M | $49.8M | $57.5M | $63.3M | $72.2M | $18.9M | $28.9M |
| Short-term investments | — | — | −$566,000 | $754.7M | $52.1M | $51.7M | — | — | $709.79B | $598.29B |
| Receivables | $15.5M | $13.1M | $11.0M | $11.0M | $39.4M | $3.7M | $6.9M | $2.8M | $16.7M | $2.5M |
| Inventory | $0 | $0 | $1 | $1 | $141.3M | $112.9M | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $198,000 | $893,999 | $747,999 | $0 | $0 | $441,337 | $792,069 | $1.2M | $1.1M |
| Total current assets | $136.5M | $125.3M | $112.4M | $63.2M | $89.2M | $61.4M | $70.7M | $75.8M | $36.8M | $32.5M |
| Property, plant & equipment (net) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $2.77B | $1.98B | $1.07B | $1.16B | $1.08B | $1.09B | $1.08B | $1.00B | $710.5M | $598.9M |
| Other non-current assets | $3.8M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total assets | $2.91B | $2.11B | $1.18B | $1.23B | $1.17B | $1.15B | $1.15B | $1.08B | $747.3M | $631.4M |
| Liabilities | ||||||||||
| Accounts payable | $46.4M | $45.0M | $20.8M | $12.5M | $22.7M | $11.1M | $19.0M | $65.9M | $25.5M | $18.0M |
| Short-term debt | $184.6M | $183.8M | $259.3M | $217.3M | $208.28B | $20.8M | $135.24B | $135.50B | $256.9M | $232.4M |
| Deferred revenue | — | — | −$239.7M | — | −$208.26B | −$129.28B | −$135.24B | −$135.50B | −$256.9M | −$232.4M |
| Total current liabilities | $46.4M | $45.0M | $20.8M | $12.5M | $22.7M | $11.1M | $289.8M | $405.1M | $289.4M | $255.5M |
| Long-term debt | $0 | $0 | $0 | $279.1M | $0 | $0 | $623.6M | $467.6M | $256.9M | $232.4M |
| Other long-term liabilities | $1.79B | $1.19B | $505.2M | $408.8M | $657.6M | $659.9M | $0 | $0 | $0 | $0 |
| Total liabilities | $1.84B | $1.23B | $526.0M | $700.4M | $680.2M | $671.0M | $649.3M | $540.6M | $289.4M | $255.5M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $99,000 | $78,000 | $59,000 | $45,000 | $39,000 | $38,772 | $38,772 | $38,772 | $32,480 | $26,730 |
| Retained earnings (deficit) | −$145.1M | −$99.5M | −$111.6M | −$91.0M | −$48.2M | −$60.9M | −$35.6M | −$7.5M | $7.5M | $3.2M |
| Accumulated other comprehensive income | — | — | $0 | $527.1M | $0 | $0 | $0 | $1.0M | $4.3M | −$1.4M |
| Total shareholders' equity | $1.07B | $877.3M | $653.6M | $527.1M | $490.6M | $477.3M | $503.1M | $535.8M | $457.9M | $375.9M |
| Key figures | ||||||||||
| Total debt | $1.78B | $1.18B | $495.4M | $672.8M | $652.6M | $653.2M | $135.86B | $135.97B | $513.7M | $464.8M |
| Net cash (debt) | −$1.65B | −$1.06B | −$394.9M | −$621.3M | −$602.8M | −$595.7M | −$135.80B | −$135.90B | −$494.8M | −$435.9M |
| Working capital | $90.2M | $80.3M | $91.6M | $50.7M | $66.5M | $50.3M | −$219.1M | −$329.3M | −$252.6M | −$223.0M |
| Tangible book value | $1.07B | $877.3M | $653.6M | $527.1M | $490.6M | $477.3M | $503.1M | $535.8M | $457.9M | $375.9M |
| Book value per share | $11.61 | $13.35 | $12.86 | $12.84 | $12.66 | $12.31 | $12.97 | $13.99 | $15.13 | $14.06 |
| Shares outstanding | 92.5M | 65.7M | 50.8M | 41.1M | 38.8M | 38.8M | 38.8M | 38.3M | 30.3M | 26.7M |
| Current ratio | 2.94 | 2.78 | 5.40 | 5.07 | 3.93 | 5.54 | 0.24 | 0.19 | 0.13 | 0.13 |
| Quick ratio | 2.98 | 2.78 | 5.36 | 5.01 | 3.93 | 5.52 | 0.24 | 0.19 | 0.12 | 0.12 |
| Debt / equity | 1.65 | 1.34 | 0.76 | 1.28 | 1.33 | 1.37 | 270.08 | 253.75 | 1.12 | 1.24 |
| Equity / assets | 36.9% | 41.6% | 55.4% | 42.9% | 41.9% | 41.6% | 43.7% | 49.8% | 61.3% | 59.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $50.7M | $121.9M | $95.3M | $122.7M | $102.7M | $111.4M | $102.3M | $112.0M | $84.6M | $125.3M | $75.8M | $100.6M |
| Cash & equivalents | $50.7M | $121.9M | $95.3M | $122.7M | $102.7M | $111.4M | $102.3M | $112.0M | $84.6M | $125.3M | $75.8M | $100.6M |
| Receivables | $13.5M | $12.6M | $13.0M | $15.5M | $13.4M | $14.2M | $43.0M | $13.1M | $13.2M | $12.7M | $12.3M | $11.0M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1 | $1 | $0 | $1 |
| Other current assets | $63.9M | $0 | $0 | $0 | $0 | $2.3M | $5.0M | $198,000 | $151,999 | $0 | $20,000 | $893,999 |
| Total current assets | $128.1M | $121.9M | $95.3M | $136.5M | $116.1M | $127.8M | $150.3M | $125.3M | $98.0M | $138.0M | $88.1M | $112.4M |
| Property, plant & equipment (net) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $2.50B | $2.58B | $2.61B | $2.77B | $2.40B | $2.34B | $2.19B | $1.98B | $1.66B | $1.48B | $1.27B | $1.07B |
| Other non-current assets | $2.1M | $45.8M | $15.5M | $3.8M | $2.0M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total assets | $2.63B | $2.75B | $2.72B | $2.91B | $2.52B | $2.47B | $2.34B | $2.11B | $1.76B | $1.62B | $1.36B | $1.18B |
| Liabilities | ||||||||||||
| Accounts payable | $1.3M | $27.2M | $28.9M | $46.4M | $30.5M | $26.5M | $25.4M | $45.0M | $10.5M | $23.8M | $19.9M | $20.8M |
| Short-term debt | $297.5M | $380.9M | $184.8M | $184.6M | $184.4M | $184.2M | $184.0M | $183.8M | — | $183.4M | $183.2M | $259.3M |
| Deferred revenue | — | — | — | — | — | — | — | — | — | — | — | −$239.7M |
| Total current liabilities | $42.1M | $40.0M | $42.4M | $46.4M | $30.5M | $26.5M | $25.4M | $45.0M | $33.0M | $23.8M | $28.2M | $20.8M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $1.58B | $1.67B | $1.63B | $1.79B | $1.40B | $1.38B | $1.36B | $1.19B | $907.2M | $871.3M | $672.9M | $505.2M |
| Total liabilities | $1.62B | $1.71B | $1.68B | $1.84B | $1.43B | $1.40B | $1.38B | $1.23B | $940.2M | $895.1M | $701.0M | $526.0M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $99,000 | $99,000 | $99,000 | $99,000 | $99,000 | $96,000 | $85,000 | $78,000 | $72,000 | $63,000 | $59,000 | $59,000 |
| Retained earnings (deficit) | −$202.0M | −$180.9M | −$179.2M | −$145.1M | −$134.1M | −$122.9M | −$96.4M | −$99.5M | −$99.0M | −$94.9M | −$107.2M | −$111.6M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | $0 | $0 | $0 | $0 |
| Total shareholders' equity | $1.02B | $1.04B | $1.04B | $1.07B | $1.09B | $1.07B | $962.7M | $877.3M | $816.7M | $720.7M | $658.0M | $653.6M |
| Key figures | ||||||||||||
| Total debt | $1.57B | $1.67B | $1.63B | $1.78B | $1.39B | $1.37B | $1.34B | $1.18B | $896.4M | $861.5M | $671.1M | $495.4M |
| Net cash (debt) | −$1.52B | −$1.55B | −$1.54B | −$1.65B | −$1.29B | −$1.25B | −$1.24B | −$1.06B | −$811.8M | −$736.2M | −$595.3M | −$394.9M |
| Working capital | $86.0M | $81.8M | $52.9M | $90.2M | $85.6M | $101.3M | $124.9M | $80.3M | $64.9M | $114.2M | $60.0M | $91.6M |
| Tangible book value | $1.02B | $1.04B | $1.04B | $1.07B | $1.09B | $1.07B | $962.7M | $877.3M | $816.7M | $720.7M | $658.0M | $653.6M |
| Book value per share | $10.26 | $10.47 | $10.49 | $10.83 | $13.32 | $13.07 | $11.79 | $11.90 | $11.93 | $11.79 | $11.20 | $11.19 |
| Shares outstanding | 99.2M | 99.2M | 99.2M | 99.2M | 81.7M | 81.7M | 81.7M | 73.7M | 68.5M | 61.2M | 58.7M | 58.4M |
| Current ratio | 3.04 | 3.05 | 2.25 | 2.94 | 3.80 | 4.82 | 5.92 | 2.78 | 2.97 | 5.80 | 3.13 | 5.40 |
| Quick ratio | 1.53 | 3.36 | 2.55 | 2.98 | 3.80 | 4.74 | 5.72 | 2.78 | 2.96 | 5.80 | 3.13 | 5.36 |
| Debt / equity | 1.55 | 1.61 | 1.57 | 1.65 | 1.28 | 1.28 | 1.39 | 1.34 | 1.10 | 1.20 | 1.02 | 0.76 |
| Equity / assets | 38.6% | 37.8% | 38.3% | 36.9% | 43.1% | 43.2% | 41.1% | 41.6% | 46.5% | 44.6% | 48.4% | 55.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed November 24, 2025); data from EODHD.
PFLT financial position
At the end of fiscal 2025 (September 30, 2025), PennantPark Floating Rate Capital had total assets of $2.9 billion (up 38.2% from a year earlier), total liabilities of $1.8 billion and shareholders' equity of $1.1 billion. It held $122.7 million in cash and short-term investments against $1.8 billion of debt, net debt of $1.7 billion. Its current ratio was 2.94. In the latest quarter (ended June 30, 2026) total assets were $2.6 billion and equity $1.0 billion.
Related: PFLT income statement, PFLT cash flow statement, PFLT key metrics. See the PFLT stock overview for the latest quote and news.
PFLT balance sheet FAQ
What are PennantPark Floating Rate Capital's total assets?
PennantPark Floating Rate Capital reported total assets of $2.9 billion at the end of fiscal 2025 (September 30, 2025), compared with $2.1 billion a year earlier.
How much debt does PennantPark Floating Rate Capital have?
PennantPark Floating Rate Capital had $1.8 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 1.65.
How much cash does PennantPark Floating Rate Capital have?
PennantPark Floating Rate Capital held $122.7 million in cash and short-term investments at the end of fiscal 2025; with $1.8 billion of debt that is net debt of $1.7 billion.
What is PennantPark Floating Rate Capital's book value?
PennantPark Floating Rate Capital's shareholders' equity (book value) was $1.1 billion at the end of fiscal 2025, or $11.61 per share.
What is PennantPark Floating Rate Capital's current ratio?
PennantPark Floating Rate Capital had current assets of $136.5 million and current liabilities of $46.4 million, a current ratio of 2.94 (it can cover its short-term obligations).