Equity Analysis /
United States of America

US : Financial Services - Others - Business Development Companies | Return On Equity Versus P/NAV

    Matthew Tjaden
    Matthew Tjaden

    Research Associate

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    CGS-CIMB
    19 January 2021
    Published byCGS-CIMB

    Note: this is our second report in an upcoming addendum series on BDC Valuation. Note 1 of the addendum (Income ROE Vs. Dividend Book Yield) can be found here, while the prior series overview can be found here.The key point: Though we spend a lot of time modeling income, Income ROE holds only a min