Logo

MPV

Barings Participation Investors

MPV

Barings Participation Investors • NYSE
$20.24 ▲ 0.75% (+0.15)
Market Cap $216.97 M
52w High $21.00
52w Low $15.16
Dividend Yield 1.58%
P/E 14.15
Volume 120
Outstanding Shares 10.72M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $8.906M ▼ $1.31M ▼ $6.242M ▼ 70.084% ▼ $0.58 ▼ $0
Q4-2024 $11.086M ▲ $1.354M ▲ $9.05M ▲ 81.634% ▼ $0.85 ▲ $0
Q2-2024 $9.98M ▼ $1.264M ▼ $8.198M ▼ 82.144% ▼ $0.77 ▼ $0 ▼
Q4-2023 $10.278M ▲ $1.317M ▲ $9.288M ▲ 90.368% ▲ $0.88 ▲ $10.408M ▲
Q2-2023 $9.837M $1.234M $8.831M 89.773% $0.83 $9.411M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $4.217M ▼ $193.537M ▼ $25.419M ▼ $168.118M ▲
Q4-2024 $6.998M ▲ $196.215M ▲ $31.093M ▲ $165.121M ▼
Q2-2024 $5.323M ▼ $184.195M ▼ $15.836M ▼ $168.359M ▲
Q4-2023 $6.485M ▲ $190.478M ▲ $27.111M ▲ $163.367M ▼
Q2-2023 $0 $187.187M $22.401M $164.786M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $6.242M ▼ $5.631M ▼ $-1.374M ▲ $-7.038M ▼ $-2.782M ▼ $4.256M ▲
Q4-2024 $9.05M ▲ $10.116M ▲ $-9.99M ▼ $1.549M ▲ $1.675M ▲ $126.329K ▼
Q2-2024 $8.198M ▼ $6.622M ▼ $6.163M ▲ $-13.946M ▼ $-1.162M ▲ $12.786M ▲
Q4-2023 $9.288M ▲ $8.498M ▼ $-3.859M ▼ $-6.747M ▲ $-2.109M ▼ $4.638M ▼
Q2-2023 $8.831M $11.225M $2.417M $-7.513M $8.594M $11.225M

Five-Year Company Overview

Income Statement

Income Statement Earnings look consistently positive over the past five years, with revenue and profits broadly moving in the same steady range. As is typical for a credit-focused closed‑end fund, results can be a bit bumpy from year to year because of realized and unrealized gains, but there are no signs of deep losses or extreme swings. Recent earnings per share are healthy compared with the weaker pandemic‑era period, even though they eased slightly from the prior year’s strong level. Overall, the income statement suggests a mature, income‑generating vehicle rather than a high‑growth story, with performance driven by credit conditions and deal realizations more than by rapid expansion.

Balance Sheet

Balance Sheet The balance sheet looks conservative and fairly simple. Total assets and equity have edged up over time, suggesting gradual growth and retained value for shareholders. Debt levels are modest and have not ballooned, which fits with management’s stated conservative approach to leverage. Cash is kept lean but present, reflecting that capital is largely deployed into investments rather than sitting idle. Taken together, the structure points to a cautious, income‑oriented fund that prioritizes stability over aggressive borrowing.

Cash Flow

Cash Flow Cash flow from operations has generally been positive, which is important for a fund that aims to pay regular distributions. Free cash flow closely tracks operating cash flow, because there is essentially no spending on physical assets. There are a couple of softer years, highlighting that cash generation can fluctuate with portfolio performance and repayments, but there is no pattern of chronic cash burn. Overall, the cash profile is consistent with a managed investment portfolio that converts a meaningful portion of accounting earnings into actual cash over time.

Competitive Edge

Competitive Edge MPV competes in the niche of private credit to smaller and mid‑sized companies, a space where access, relationships, and underwriting skill matter more than brand name alone. Its main advantage is being part of Barings’ large global credit platform, which brings deep deal pipelines, long‑standing sponsor relationships, and experienced credit teams. The focus on senior secured, directly originated loans adds a layer of protection and customization that can be hard for newer entrants to match. On the other hand, this is a competitive market, and the fund is exposed to the health of below‑investment‑grade borrowers and to cycles in private equity and credit markets.

Innovation and R&D

Innovation and R&D There is little in the way of traditional “R&D,” but the fund shows ongoing innovation in process more than in technology. Its strengths are in direct origination, detailed credit analysis, and continuous monitoring of borrowers using Barings’ internal systems. The strategy is more about disciplined execution—maintaining high underwriting standards, leveraging a global network for sourcing, and using flexible capital structures—than about flashy tools. Future evolution is likely to be incremental, such as refining how the portfolio is positioned for changing interest rates and credit conditions, rather than major shifts in the business model.

Summary

MPV looks like a seasoned, income‑focused closed‑end fund built on conservative leverage, steady earnings, and a long history in private credit. Financially, it shows consistent profitability, a solid and simple balance sheet, and generally positive cash generation, all in line with its goal of providing regular distributions with some potential for capital growth. Competitively, its edge comes from Barings’ scale, relationships, and credit discipline, especially in senior secured lending to middle‑market companies. Key uncertainties center on credit quality, the economic cycle, and interest‑rate moves, which can all influence both earnings and asset values from year to year.

NEWS

November 13, 2025 · 3:30 PM UTC

Barings Participation Investors Reports Preliminary Third Quarter 2025 Results

Read more

October 28, 2025 · 2:00 PM UTC

Faraday Future Launches FX Super One MPV in the UAE, with the AIHEREV Max edition priced at 309,000 AED; Soccer Legend Andrés Iniesta Named First Super One Owner and Co-Creation Officer

Read more

October 12, 2025 · 7:30 PM UTC

Faraday Future Founder and Co-CEO YT Jia Shares Weekly Investor Update: Recent Developments Include FX Signing a Deposit Agreement for 1,000 FX Super One MPV's with ZEVO, a Pioneer of Peer-to-Peer EV Sharing Platform in the U.S.

Read more

October 9, 2025 · 3:00 PM UTC

Barings Participation Investors Announces Quarterly Cash Dividend Of $0.37 Per Share

Read more

September 25, 2025 · 11:27 PM UTC

Faraday Future Announces Pinnacle Real Estate Group President Calvin Gong as the Next user of an FF 91 2.0, with the Official Delivery Scheduled for October 8

Read more