FDUS
Fidus Investment Corporation
FDUS's fundamentals are mixed: earnings per share grew 5.2%, but revenue fell 11%. At 8.7x earnings, it's trading right at its usual valuation. Analysts expect earnings to hold roughly steady.
FDUS Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Strong | |
| N/A | |
| N/A |
FDUS's profitability is currently strong, but its revenue is under pressure. Free cash flow and net leverage aren't meaningful measures for financial services companies like FDUS.
FDUS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 4.9x | $10.88 | -44% |
| Fair | 8.6x | $19.02 | -1.5% |
| Current | 8.7x | $19.32 | — |
| Forward | 9.6x | $19.32 | — |
| Expensive | 11x | $23.21 | +20% |
Historical ranges are pointers, not guarantees.
FDUS's PE is in its fair range at 8.7x. On analysts' estimates for next year's earnings, today's price would be 9.6x, in its expensive range.
FDUS Forward outlook
| Metric | Outlook |
|---|---|
| Deteriorating | |
| Stable | |
| Growth | |
| Strongly weakening | |
| Limited | |
| Moderate |
Analysts expect FDUS's revenue to grow, but its profitability to weaken.
FDUS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.01 | -9% |
| Q3 2026 | $2.21 | +5.2% |
| Q2 2026 | $2.16 | -4% |
| Q1 2026 | $2.20 | -2.2% |
| Q4 2025 | $2.08 | -9.2% |
| Q3 2025 | $2.10 | -9.5% |
| Q2 2025 | $2.25 | -2.6% |
| Q1 2025 | $2.25 | -8.2% |
| Q4 2024 | $2.29 | -7.3% |
FDUS's earnings per share have fallen from their peak: $2.21 over the past year, against $4.76 in early 2022.
FDUS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2022 | $17.2M | -50% |
| Q2 2022 | $14.1M | -56% |
| Q1 2022 | $17.4M | -13% |
| Q4 2021 | $60.3M | +67% |
| Q3 2021 | $34.5M | +29% |
| Q2 2021 | $31.6M | +124% |
| Q4 2020 | $36.1M | +38% |
FDUS's revenue is shrinking: $17M last quarter, down 50% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2022 | 66% | -16 points |
| Q2 2022 | 58% | -24 points |
| Q1 2022 | 67% | +9.2 points |
| Q4 2021 | 88% | +5.3 points |
| Q3 2021 | 82% | +4.4 points |
| Q2 2021 | 82% | +24 points |
| Q1 2021 | 58% | N/A |
| Q4 2020 | 82% | +4.7 points |
FDUS's operating margin was 66% last quarter, down 16 points from the same quarter a year ago.
FDUS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $5.8M | +$37.7M |
| Q2 2026 | -$41.9M | -205% |
| Q1 2026 | -$32.6M | +$17.6M |
| Q4 2025 | -$104.8M | -611% |
| Q3 2025 | -$31.9M | -782% |
| Q2 2025 | $39.9M | +$42.6M |
| Q1 2025 | -$50.2M | +$27.6M |
| Q4 2024 | $20.5M | +512% |
FDUS's free cash flow was −$174M over the past year, against −$22M the year before. Free cash flow isn't a meaningful measure for financial services companies like FDUS.
FDUS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +2.5% | +949K shares |
| 1 year | +8.9% | +3.2M shares |
| 3 years | +46% | +12.3M shares |
| 5 years | +59% | +14.5M shares |
| Available history | +59% | +14.4M shares |
FDUS has 39M diluted shares, up 8.9% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2022 | — |
| Q2 2022 | — |
| Q1 2022 | — |
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
| Q1 2021 | — |
| Q4 2020 | — |
FDUS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2022 | 4.1x | High |
| Q2 2022 | 3.1x | Elevated |
| Q1 2022 | 2.5x | Moderate |
| Q4 2021 | 1.7x | Healthy |
| Q3 2021 | 2.6x | Moderate |
| Q2 2021 | 3.3x | Elevated |
| Q1 2021 | 4.1x | High |
| Q4 2020 | 9.6x | High |
FDUS's net debt is about 4.1 years of its operating earnings (EBITDA), up from 2.6 years a year ago. Net leverage isn't a meaningful measure for financial services companies like FDUS.
FDUS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.5 | Neutral |
| Stochastic | 49.6 | Neutral |
FDUS's weekly RSI is 51 (neutral) and its Stochastic is 50 (neutral).
FDUS PE vs Financial Services Sector
| Metric | FDUS | Sector median | Relative |
|---|---|---|---|
| PE | 8.7x | 13x | 33% below |
| PE % | 53 | 63 | 10 pts below |
FDUS is trading at 8.7x earnings, a 33% discount to the Financial Services sector's median of 13x.
FDUS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $19.2 | 0.8% above |
| 20 week MA | $19.5 | 1% below |
| 50 week MA | $19.1 | 1.4% above |
| 100 week MA | $19.9 | 2.8% below |
| 200 week MA | $19.8 | 2.2% below |
FDUS's trend is mixed: it's above two of its five weekly moving averages, and 2.2% below its 200-week average.
FDUS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $15.0 | $12.6 | -16% |
| 2021 | $12.6 | $17.9 | +42% |
| 2022 | $17.9 | $19.0 | +6% |
| 2023 | $19.0 | $19.7 | +3.7% |
| 2024 | $19.7 | $20.9 | +5.9% |
| 2025 | $20.9 | $19.4 | -6.8% |
| 2026 YTD | $19.4 | $19.3 | -0.6% |
FDUS has finished higher in four of the last six years. It's down 0.6% so far in 2026.