Private Credit Portfolio Analysis | Palmer Square Capital BDC Reports FY 2024 Results
- Editor
- Feb 27
- 2 min read
Whats New:
Palmer Square Capital BDC Inc. reported its fiscal year 2024 financial results, showing significant growth in total assets and stockholders' equity compared to the previous year. The fund's total assets increased to $1.43 billion as of December 31, 2024, up from $1.12 billion at the end of 2023. Net asset value per share decreased slightly to $16.50 from $17.04 at the end of the previous year.
Portfolio Dynamics:
Total assets grew to $1.43 billion as of December 31, 2024, compared to $1.12 billion at the end of 2023.
Investments owned at fair value increased to $1.41 billion, up from $1.11 billion at the end of 2023.
Cash and cash equivalents rose to $2.77 million from $2.12 million at the end of 2023.
Investment Activty:
Receivable from investment sales increased significantly to $7.80 million from $97,141 at the end of 2023.
Receivable for paydowns of investments grew to $1.35 million from $344,509 at the end of 2023.
Interest receivable increased to $11.46 million from $8.39 million at the end of 2023.
Capital Structure:
Line of credit decreased to $501.65 million from $641.83 million at the end of 2023.
Notes payable current increased to $302.51 million from $0 at the end of 2023.
Stockholders' equity grew to $537.84 million from $461.96 million at the end of 2023.
Performance Profile:
Net asset value per share decreased to $16.50 as of December 31, 2024, compared to $17.04 at the end of 2023.
Net income for the year was $47.67 million, down from $107.84 million in 2023.
Total liabilities increased to $893.20 million from $659.86 million at the end of 2023.
Risk & Quality:
The fund reported an incentive fee payable of $2.15 million, up from $0 at the end of 2023.
Management fee payable increased to $2.41 million from $2.25 million at the end of 2023.
Other accrued liabilities increased to $1.37 million from $1.07 million at the end of 2023.
The Wrap:
Palmer Square Capital BDC demonstrated significant growth in fiscal year 2024, with notable increases in total assets, investments at fair value, and stockholders' equity. However, the fund's net asset value per share decreased slightly, and net income was lower compared to the previous year. The increase in liabilities, particularly in notes payable and incentive fees, suggests higher costs associated with the fund's expanded operations and investment activities.
ความคิดเห็น