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MCC Reports NII Of $0.2783 Compared To A Dividend Of $0.30

|Includes: Medley Capital (MCC)

Warning - These numbers are ugly.

MCC Reports NII of $0.2783 compared to a dividend of $0.30
What They Earned Medley Capital Corporation reported for Q4-15 Total Investment Income of $34.427 million ($0.6115/share) and Net Investment Income of $15.666 million ($0.2783/share). The NII/TII ratio was 45.50%. The Net Increase in Net Assets Resulting from Operations was - $39.204 million (- $0.6963/share) due to $54.870 million in realized and unrealized losses. The Net asset value per common share was $10.01 compared to $11.00 last quarter. The spreadsheet below displays key income components by quarter.

The Yahoo Finance consensus analyst projections:

Earnings Est Current Qtr.
Dec 15
Next Qtr.
Mar 16
Current Year
Sep 16
Next Year
Sep 17
Avg. Estimate 0.31 0.31 1.24 1.26
No. of Analysts 11.00 11.00 11.00 9.00
Low Estimate 0.30 0.30 1.20 1.19
High Estimate 0.33 0.35 1.27 1.33
Revenue Est Current Qtr.
Dec 15
Next Qtr.
Mar 16
Current Year
Sep 16
Next Year
Sep 17
Avg. Estimate 36.02M 35.72M 143.20M 144.29M
No. of Analysts 7 7 7 5
Low Estimate 35.43M 33.71M 134.80M 138.20M
High Estimate 36.58M 36.73M 149.20M 148.00M
Year Ago Sales 39.85M 36.78M 149.20M 143.20M

My MCC spreadsheets:

  Q4-15 Q3-15 Q2-15 Q1-15 Q4-14 Q3-14 Q2-14 Q1-14 Q4-13 Q3-13 Q2-13 Q1-13
Realized & Unrealized Gains -54.870 -34.151 -8.867 -5.970 -38.706 -11.554 -4.105 -4.113 -2.738 0.770 -8.873 1.127
Realized & Unrealized Gains/share -0.9746 -0.5988 -0.1533 -0.1021 -0.6590 -0.2105 -0.0813 -0.0937 -0.0682 0.0221 -0.2717 0.0393

  Q4-15 Q3-15 Q2-15 Q1-15 Q4-14 Q3-14 Q2-14 Q1-14 Q4-13 Q3-13

Interest income 31.368 34.579 33.770 34.236 35.763 29.794 29.436 25.995 25.083 21.653
Fee income 3.059 2.028 2.085 2.539 4.084 8.456 8.634 5.401 6.583 5.818
Total investment income 34.427 34.578 35.964 36.776 39.849 38.252 38.072 31.398 31.668 27.473
Net investment income 15.666 17.553 17.240 17.753 20.390 20.388 20.694 16.555 17.031 14.355
Investments @ fair value 1.115 1.216 1.204 1.272 1.223 1.245 1.043 0.959 0.818 0.740
Wt Av Share Count 56.300 57.032 57.859 58.500 58.734 54.877 50.503 43.883 40.162 34.881
TII/share $0.6115 $0.6063 $0.6216 $0.6286 $0.6785 $0.6969 $0.7538 $0.7155 $0.7885 $0.7876
NII/share $0.2783 $0.3078 $0.2980 $0.3035 $0.3472 $0.3715 $0.4098 $0.3772 $0.4240 $0.4115
Dividend/share $0.30 $0.30 $0.30 $0.30 $0.37 $0.37 $0.37 $0.37 $0.37 $0.37
NAV/share $10.01 $11.00 $11.53 $11.68 $11.74 $12.43 $12.65 $12.69 $12.68 $12.70
Wt Av Yield 12.2% 12.3% 12.4% 12.6% 12.5% 12.6% 13.4% 13.5% 13.6% 13.8%
NII/TII 45.50% 50.76% 47.94% 48.27% 51.17% 53.30% 54.35% 52.73% 53.78% 52.25%

Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.