Unternehmensübersicht
LMP Capital and Income Fund Inc. operates as a closed-ended balanced mutual fund that is launched and managed by Legg Mason Partners Fund Advisor, LLC, with co-management responsibilities held by Clearbridge Investments, LLC, Western Asset Management Company Limited, and Western Asset Management Company. The entity functions within the Financial Services sector and specifically targets the Asset Management industry, a domain characterized by the professional administration of investment portfolios for public equity and other assets. As of the latest reporting period, the company maintains a market capitalization of $334.89M and generates an annual revenue of $11.67M, while the total employee count is listed as N/A. These valuation and revenue figures indicate that the fund holds a mid-sized position in the asset management landscape, reflecting a specialized focus rather than the broad scale of major global asset managers. The market cap of $334.89M suggests a significant asset base under management, which is typical for closed-end funds that trade on secondary markets with distinct liquidity profiles compared to their open-ended counterparts.
Finanzielle Gesundheit
The financial statements for the trailing twelve months reveal a revenue of $11.67M contrasted against a net income of $-820,206, with an EBITDA figure not available in the provided data. The substantial negative gap between the positive revenue of $11.67M and the net loss of $-820,206 highlights a cost structure where operating expenses and other deductions significantly exceed gross profits, resulting in an overall profitability deficit. Despite the net loss, the company reports a free cash flow of $3.12M, which indicates a degree of financial flexibility derived from cash generation that is independent of accounting earnings and non-cash charges. The company's margins present a mixed picture, featuring a gross margin of 100.0% which is typical for asset management firms with high-margin revenue models, an operating margin of 65.8% suggesting efficient core operations, yet a profit margin of -7.0% that reflects the impact of non-operating expenses or interest costs on the bottom line. On the balance sheet, total cash is listed as N/A while total debt stands at $80.00M, creating a leverage environment defined by a debt-to-equity ratio of 21.16. This high debt-to-equity ratio suggests a leveraged balance sheet structure where the company carries significant obligations relative to its equity base. Liquidity is further constrained by a current ratio of 0.01, a figure that indicates the company's current assets are insufficient to cover its current liabilities without relying on asset liquidation or refinancing. Return metrics show a return on equity of -0.2% and a return on assets of 1.1%, revealing that while the asset base generates a slight positive return, the shareholder equity is currently being diluted by the net loss, pointing to challenges in management effectiveness regarding capital preservation and value generation.
Bewertungsanalyse
Trailing P/E and forward P/E ratios are both listed as N/A due to the negative net income, meaning standard earnings-based valuation multiples cannot be calculated to assess the expected earnings trajectory. Instead, investors must rely on the price-to-book ratio of 0.89, which indicates that the market values the company at a discount to its book value, suggesting a potential undervaluation or a market perception of elevated risk. Alternative valuation metrics include a price-to-sales ratio of 28.71 and an EV/EBITDA of N/A, where the high multiple on sales suggests the market is pricing in significant future growth expectations or intangible value not captured by current earnings. The stock has traded within a 52-week range defined by a high of $16.89 and a low of $13.35, placing the current trading price somewhere within this historical band depending on the specific day of observation. The company exhibits a beta of 1.04, which implies that the fund's price volatility is slightly higher than the broader market, moving approximately 4% more than the market index during periods of fluctuation. This beta value is consistent with a financial services asset that carries moderate systematic risk relative to the overall equity market.
Growth & Income
The company demonstrates a revenue growth rate of 33.4% year-over-year, while earnings growth is negative at -55.4%, indicating that earnings are contracting significantly faster than the top line, likely due to one-time costs or structural shifts in the income statement. For dividend payers, the fund offers a dividend yield of 9.8% with a payout ratio of 118.7%, a metric that signals the dividend is not sustainable based on current earnings since the payout exceeds the reported net income. The high payout ratio in conjunction with negative earnings implies that the dividend is being funded from cash reserves or other non-earnings sources rather than from distributable profits. The overall growth and income profile is characterized by robust top-line expansion offset by sharp earnings contraction and an aggressive, potentially unsustainable dividend policy that relies on capital returns rather than profit distribution.