SLR Investment Corp. (SLRC) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+1152.0%

$147.86

vs $11.81 price

Levered DCF

$6.18

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

1.01

Distress zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	9.09×	9.18×	10.74×	39.74×	13.07×	47.32×	15.5×	12.15×
P/B	0.85×	0.89×	0.83×	0.72×	0.92×	0.87×	0.96×	0.88×
P/S	3.83×	4.98×	5.16×	9.66×	7.84×	14.58×	9.15×	8.03×
EV / EBITDA	12.07×	15.63×	21.65×	75.05×	21.29×	66.19×	18.25×	16.11×
Gross margin	73.3%	59.5%	54.4%	38.1%	69.9%	46.5%	69.7%	75.5%
Operating margin	72.9%	54.3%	48.0%	24.7%	59.9%	30.4%	58.8%	66.2%
Net margin	42.0%	54.3%	48.0%	24.7%	59.9%	30.4%	58.8%	66.2%
Current ratio	0.31×	1.09×	1.09×	1.04×	1×	1.01×	1.03×	0.83×
Debt / equity	1.15×	1.04×	1.19×	1.09×	0.96×	0.79×	0.65×	0.52×
Interest coverage	2.36×	1.34×	1.05×	0.4×	1.99×	0.57×	1.94×	2.7×
Dividend yield	10.6%	10.2%	11.8%	13.2%	8.9%	9.4%	8.0%	8.5%
Payout ratio	96.7%	93.4%	126.9%	515.4%	116.4%	448.6%	123.7%	102.7%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	9.3%	9.6%	7.7%	1.8%	7.1%	1.8%	6.2%	7.3%
Return on invested capital	6.2%	4.7%	3.5%	0.9%	3.6%	1.0%	3.7%	4.7%
Return on assets	3.6%	3.9%	3.0%	0.7%	3.0%	0.8%	2.9%	4.0%
Free cash flow yield	-8.5%	17.8%	-0.5%	12.7%	-17.3%	-8.5%	21.4%	23.6%
Earnings yield	11.0%	10.9%	9.3%	2.6%	7.6%	2.1%	6.4%	8.2%
Enterprise value	$2B	$1.5B	$1.7B	$1.4B	$1.3B	$1B	$1B	$1.1B
Net debt / EBITDA	6.91×	6.45×	10.91×	35.86×	8.21×	18.29×	2.69×	3.98×
Cash conversion cycle (days)	20	-2,010	-1,655	-3,322	-4,114	-5,281	-5,496	-28,815