企業概要
Tortoise Energy Infrastructure Corporation (TYG) operates as a closed-ended equity mutual fund managed by Tortoise Capital Advisors L.L.C., focusing on investments within the public equity markets of the United States. The entity specifically targets companies engaged in the energy infrastructure sector, distinguishing its operational niche from broader asset management firms. This investment vehicle falls under the Financial Services sector and is classified within the Asset Management industry, reflecting its role in pooling capital to acquire stakes in underlying operational entities. With a total market capitalization of $1.00B and trailing twelve-month revenue of $24.89M, the company operates at a significant scale despite having no disclosed employee count in available records. These valuation and revenue figures indicate that the fund manages a substantial asset base capable of generating nearly $25 million in annual revenue, positioning it as a notable player in the specialized infrastructure finance space relative to smaller boutique funds.
財務健全性
The company reported revenue of $24.89M and net income of $19.36M over the trailing twelve months, while EBITDA data is not currently available for analysis. The substantial gap between total revenue of $24.89M and net income of $19.36M reveals a highly efficient cost structure where operating expenses and taxes consume only a small fraction of total earnings, resulting in a profit margin of 77.8%. The free cash flow stands at $2.38M, which represents the actual cash generated after capital expenditures; however, this figure is significantly lower than net income, suggesting that capital allocation or timing of cash flows may impact liquidity management differently than accounting earnings. Cash on hand totals $652,302, whereas total debt obligations reach $279.13M, creating a scenario where liabilities exceed liquid assets. The debt-to-equity ratio of 28.39 indicates a leveraged balance sheet structure typical of infrastructure funds that utilize debt to finance high-yield assets, though the current ratio of 0.04 suggests that short-term current assets are insufficient to cover current liabilities based on the reported figures. Return on Equity stands at 2.5% and Return on Assets at 0.6%, metrics that reveal the management effectiveness in generating returns relative to the equity invested and total assets employed, respectively, with the low ROA reflecting the asset-heavy nature of the infrastructure portfolio.
バリュエーション評価
The trailing twelve-month P/E ratio is not available, while the forward P/E ratio is listed at -76.45, implying that expected future earnings per share calculations result in a negative denominator or are not yet realized in a way that supports a traditional positive multiple. The price-to-book ratio is 1.02, indicating that the market values the company at a level almost equal to its book value, suggesting no significant premium or discount relative to the net asset value of the underlying portfolio. The price-to-sales ratio is 40.23, a high multiple that suggests the market prices the company based on future growth expectations or specific sector dynamics rather than current sales efficiency. Additionally, the EV/EBITDA multiple is not available for comparison, limiting the ability to gauge enterprise value relative to operating earnings using this standard metric. The stock has traded between a 52-week high of $51.18 and a 52-week low of $34.10, placing the current trading range within this historical band. The beta value of 0.86 indicates that the stock's price volatility is lower than the broader market, moving with 86% of the market's standard deviation.
Growth & Income
Revenue growth year-over-year is 93.1%, demonstrating a dramatic expansion in top-line performance, while earnings growth year-over-year is -74.5%, indicating that earnings are contracting significantly faster than revenue in the most recent period. This divergence implies that the expansion in revenue has not yet translated into proportional earnings growth, potentially due to one-time costs, changes in fee structures, or the lag in recognizing income from new infrastructure investments. The dividend yield is 10.8%, and the payout ratio is 46.5%, suggesting that the company distributes nearly half of its earnings to shareholders, which must be weighed against the negative earnings growth to assess sustainability. Given the negative earnings growth rate, the high payout ratio requires careful monitoring to ensure that distributions do not exceed the company's ability to generate cash or retained earnings. The overall growth and income profile presents a high-yield scenario characterized by rapid revenue expansion but significant earnings contraction, offering income-focused investors a high yield while exposing them to potential earnings volatility.