AINV Reports NII of $0.2077 compared to a Dividend of $0.20
What They Earned: Apollo Investment Corporation reported for Q4-15 Total investment income of $94.325 million ($0.4074/share). Net investment income was $48.091 million ($0.2077/share). The net asset value per share was $7.56 compared to $7.83 at the end of last quarter and $8.43 at the end of Q4-14 (an annual decline of 10.32%). AINV had $73.863 million or $0.3190/share in realized and unrealized losses. PIK income totaled $10.2 million. As of December 31, 2015, 6.0% of total investments at amortized cost (or 2.5% of total investments at fair value) were on non-accrual status. Oil and Gas energy investments were 13.9% of AINV's portfolio. "Energy" was an additional 1.6% of the portfolio. As of June 30, 2015, 2.5% of total investments at amortized cost (or 0.4% of total investments at fair value) were on non-accrual status. Oil and Gas energy investments were 16.0% of AINV's portfolio at the end of Q2-15.
The Yahoo Finance consensus projections:
| Earnings Est | Current Qtr. Dec 15 | Next Qtr. Mar 16 | Current Year Mar 16 | Next Year Mar 17 |
|---|---|---|---|---|
| Avg. Estimate | 0.21 | 0.21 | 0.84 | 0.84 |
| No. of Analysts | 18.00 | 18.00 | 18.00 | 16.00 |
| Low Estimate | 0.19 | 0.20 | 0.82 | 0.78 |
| High Estimate | 0.22 | 0.22 | 0.87 | 0.88 |
| Revenue Est | Current Qtr. Dec 15 | Next Qtr. Mar 16 | Current Year Mar 16 | Next Year Mar 17 |
|---|---|---|---|---|
| Avg. Estimate | 94.43M | 93.02M | 387.41M | 370.18M |
| No. of Analysts | 8 | 8 | 9 | 8 |
| Low Estimate | 91.60M | 89.50M | 382.10M | 360.15M |
| High Estimate | 97.20M | 96.42M | 391.96M | 392.93M |
| Year Ago Sales | 110.03M | 102.12M | 433.63M | 387.41M |
My AINV spreadsheets:
| Q4-15 | Q3-15 | Q2-15 | Q1-15 | Q4-14 | Q3-14 | Q2-14 | Q1-14 | Q4-13 | Q3-13 | Q2-13 | |
| Realized & Unrealized Gains | -73.863 | -51.308 | -44.596 | -63.800 | -77.742 | -23.721 | 11.085 | 20.293 | 54.395 | 26.839 | -33.563 |
| Realized & Unrealized Gains/share | - $0.3190 | - $0.2175 | - $0.1884 | - $0.2695 | - $0.3284 | - $0.1002 | $0.0468 | $0.0857 | $0.2298 | $0.1134 | - $0.1418 |
| Q4-15 | Q3-15 | Q2-15 | Q1-15 | Q4-14 | Q3-14 | Q2-14 | Q1-14 | Q4-13 | Q3-13 | Q2-13 | |
| Fee Income | 0.747 | 2.898 | 3.538 | 1.134 | 4.596 | 4.395 | 2.362 | 2.691 | 3.396 | 2.255 | 4.514 |
| Total Income | 94.325 | 98.420 | 101.666 | 102.115 | 110.026 | 118.910 | 102.580 | 96.405 | 94.561 | 93.708 | 96.673 |
| Fee Income % of TII | 0.79% | 2.94% | 3.48% | 1.11% | 4.18% | 3.70% | 2.30% | 2.79% | 3.59% | 2.41% | 4.67% |
| Prepayment + accelerated OID | 0.300 | 4.500 | 8.000 | 6.700 | 9.300 | 21.900 | 6.100 | 5.500 | 2.500 | 9.000 | 7.800 |
| Pre + Fee Dollars | 1.047 | 7.398 | 11.538 | 7.834 | 13.896 | 26.295 | 8.462 | 8.191 | 5.896 | 11.255 | 12.314 |
| Pre + Fee % of TII | 1.11% | 7.89% | 11.35% | 7.67% | 12.63% | 22.11% | 8.25% | 8.66% | 6.23% | 12.01% | 12.74% |
| Q4-15 | Q3-15 | Q2-15 | Q1-15 | Q4-14 | Q3-14 | Q2-14 | Q1-14 | Q4-13 | |
| Total investment income | 94.325 | 98.420 | 101.666 | 102.115 | 110.026 | 118.910 | 102.580 | 94.561 | 94.561 |
| Net investment income | 48.091 | 49.561 | 50.986 | 52.071 | 56.662 | 65.688 | 53.201 | 49.683 | 49.683 |
| Investments @ fair value | 3.069 | 3.194 | 3.314 | 3.350 | 3.514 | 3.665 | 3.645 | 3.479 | 3.184 |
| Wt Av Share Count | 231.537 | 235.873 | 236.741 | 236.741 | 236.741 | 236.741 | 236.741 | 236.741 | 224.741 |
| TII/share | $0.4074 | $0.4173 | $0.4294 | $0.4313 | $0.4647 | $0.5023 | $0.4333 | $0.3994 | $0.4207 |
| NII/share | $0.2077 | $0.2101 | $0.2154 | $0.2199 | $0.2393 | $0.2775 | $0.2247 | $0.2097 | $0.2211 |
| NAV/share | $7.56 | $7.83 | $8.01 | $8.18 | $8.43 | $8.72 | $8.74 | $8.67 | $8.57 |
| Wt Av Yield | 11.4% | 11.6% | 11.5% | 11.2% | 11.1% | 11.0% | 11.1% | 11.1% | 11.4% |
| Q4-15 | Q3-15 | Q2-15 | Q1-15 | Q4-14 | Q3-14 | Q2-14 | Q1-14 | Q4-13 | Q3-13 | Q2-13 | |
| Realized & Unrealized Gains | -73.863 | -51.308 | -44.596 | -63.800 | -77.742 | -23.721 | 11.085 | 20.293 | 54.395 | 26.839 | -33.563 |
| Realized & Unrealized Gains/share | - $0.3190 | - $0.2175 | - $0.1884 | - $0.2695 | - $0.3284 | - $0.1002 | $0.0468 | $0.0857 | $0.2298 | $0.1134 | - $0.1418 |
| Q4-15 | Q3-15 | Q2-15 | Q1-15 | Q4-14 | Q3-14 | Q2-14 | Q1-14 | Q4-13 | Q3-13 | Q2-13 | |
| Fee Income | 0.747 | 2.898 | 3.538 | 1.134 | 4.596 | 4.395 | 2.362 | 2.691 | 3.396 | 2.255 | 4.514 |
| Total Income | 94.325 | 98.420 | 101.666 | 102.115 | 110.026 | 118.910 | 102.580 | 96.405 | 94.561 | 93.708 | 96.673 |
| Fee Income % of TII | 0.79% | 2.94% | 3.48% | 1.11% | 4.18% | 3.70% | 2.30% | 2.79% | 3.59% | 2.41% | 4.67% |
| Prepayment + accelerated OID | 0.300 | 4.500 | 8.000 | 6.700 | 9.300 | 21.900 | 6.100 | 5.500 | 2.500 | 9.000 | 7.800 |
| Pre + Fee Dollars | 1.047 | 7.398 | 11.538 | 7.834 | 13.896 | 26.295 | 8.462 | 8.191 | 5.896 | 11.255 | 12.314 |
| Pre + Fee % of TII | 1.11% | 7.89% | 11.35% | 7.67% | 12.63% | 22.11% | 8.25% | 8.66% | 6.23% | 12.01% | 12.74% |
| Q4-15 | Q3-15 | Q2-15 | Q1-15 | Q4-14 | Q3-14 | Q2-14 | Q1-14 | Q4-13 | |
| Total investment income | 94.325 | 98.420 | 101.666 | 102.115 | 110.026 | 118.910 | 102.580 | 94.561 | 94.561 |
| Net investment income | 48.091 | 49.561 | 50.986 | 52.071 | 56.662 | 65.688 | 53.201 | 49.683 | 49.683 |
| Investments @ fair value | 3.069 | 3.194 | 3.314 | 3.350 | 3.514 | 3.665 | 3.645 | 3.479 | 3.184 |
| Wt Av Share Count | 231.537 | 235.873 | 236.741 | 236.741 | 236.741 | 236.741 | 236.741 | 236.741 | 224.741 |
| TII/share | $0.4074 | $0.4173 | $0.4294 | $0.4313 | $0.4647 | $0.5023 | $0.4333 | $0.3994 | $0.4207 |
| NII/share | $0.2077 | $0.2101 | $0.2154 | $0.2199 | $0.2393 | $0.2775 | $0.2247 | $0.2097 | $0.2211 |
| NAV/share | $7.56 | $7.83 | $8.01 | $8.18 | $8.43 | $8.72 | $8.74 | $8.67 | $8.57 |
| Wt Av Yield | 11.4% | 11.6% | 11.5% | 11.2% | 11.1% | 11.0% | 11.1% | 11.1% | 11.4% |