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PFX

PhenixFIN Corporation

PFX

PhenixFIN Corporation • NASDAQ
$42.44 ▲ 0.00% (+0.00)
Market Cap $85.04 M
52w High $57.40
52w Low $41.00
Dividend Yield 1.43%
P/E 13.91
Volume 47
Outstanding Shares 2.00M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $3.446M ▼ $2.339M ▼ $-1.497M ▼ -43.449% ▼ $-0.742 ▼ $-1.553M ▼
Q2-2025 $4.487M ▼ $2.474M ▲ $-896.133K ▼ -19.974% ▼ $-0.44 ▼ $-566.497K ▼
Q1-2025 $7.055M ▼ $2.045M ▼ $2.464M ▼ 34.927% ▼ $1.22 ▼ $2.464M ▼
Q4-2024 $10.31M ▲ $3.314M ▲ $6.104M ▲ 59.209% ▲ $2.99 ▲ $5.217M ▲
Q3-2024 $6.863M $2.533M $2.609M 38.008% $1.29 $2.609M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $7.271M ▼ $306.81M ▲ $150.116M ▲ $156.694M ▼
Q2-2025 $8.689M ▲ $300.709M ▼ $141.722M ▼ $158.988M ▼
Q1-2025 $7.187M ▼ $311.928M ▲ $149.156M ▲ $162.772M ▲
Q4-2024 $67.572M ▲ $302.752M ▲ $142.444M ▲ $160.308M ▲
Q3-2024 $8.867M $246.297M $92.093M $154.203M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-1.497M ▼ $-6.876M ▼ $0 $5.457M ▲ $-1.419M ▼ $-6.876M ▼
Q2-2025 $-896.133K ▼ $8.791M ▲ $0 $-7.288M ▼ $1.502M ▲ $8.791M ▲
Q1-2025 $2.464M ▼ $-66.269M ▼ $0 $5.885M ▼ $-60.384M ▼ $-66.269M ▼
Q4-2024 $6.104M ▲ $8.712M ▲ $0 $49.993M ▲ $58.705M ▲ $8.712M ▲
Q3-2024 $2.609M $-8.32M $0 $-1.937M $-10.257M $-8.32M

Five-Year Company Overview

Income Statement

Income Statement PFX’s income statement shows a business that has moved from a bumpy past to more stable profitability in the last couple of years. Revenue is modest but has inched up, and after a one‑year setback, both operating profit and net income have been consistently positive. Earnings per share have been strong but quite volatile, which suggests that results can swing meaningfully from year to year. Overall, the trend is toward profitability, but with a track record that reminds you this is not a smooth, utility‑like earnings profile.

Balance Sheet

Balance Sheet The balance sheet looks reasonably solid for a niche lender. Total assets have grown steadily, and shareholder equity has also built up over time, indicating that the company has retained value rather than simply paying everything out or shrinking. Debt has increased but remains balanced by the rise in equity, suggesting leverage is being used but not in an obviously extreme way. Cash levels dipped in the middle of the period and then recovered strongly, which improves financial flexibility but also highlights some past tightness in liquidity.

Cash Flow

Cash Flow Cash generation has been choppy, with operating cash flow swinging from positive to negative and back again. The most recent year shows the company producing cash from its operations again, which supports the idea that the current portfolio is functioning more smoothly. With almost no spending on physical assets, free cash flow essentially follows operating cash, making these swings especially important to watch. The pattern suggests a business that can generate cash but is sensitive to portfolio performance and market conditions.

Competitive Edge

Competitive Edge PFX operates in a specialized corner of the lending market, focusing on smaller and mid‑sized private companies where competition is lighter and deals are more customized. Its internally managed structure gives it a cost advantage versus many peers that pay hefty external management fees, which can improve net returns over time. The leadership team’s background in investing and its network for sourcing less widely marketed deals are key assets, allowing PFX to find and structure transactions that may not be easily accessible to others. At the same time, the niche focus and smaller scale mean the company is less diversified than large asset managers, so individual portfolio issues can matter more.

Innovation and R&D

Innovation and R&D While this is not a tech or R&D‑heavy business, PFX has been innovative in how it structures and expands its platform. The internally managed model itself is a strategic innovation in the BDC world, aiming to align management and shareholder interests and reduce fee drag. The FlexFIN platform in the diamond and jewelry financing space shows a willingness to build specialized, collateral‑backed lending franchises, rather than sticking to generic loans. The recent majority stake in an insurance company adds another distinct earnings stream, but it also introduces integration and execution risks that will take time to judge. Future value will depend heavily on how well PFX scales and knits together these complementary platforms without losing underwriting discipline.

Summary

PhenixFIN is a niche, internally managed business development company that has shifted from a volatile past toward more consistent profitability and growing net asset value. Its balance sheet and cash flows indicate a company that uses leverage and concentrated strategies but is not obviously overextended, with recent improvements in cash and equity supporting that view. Strategically, PFX differentiates itself through cost efficiency, deal‑sourcing expertise, and targeted platforms like FlexFIN and the new insurance acquisition, all of which can deepen its moat if executed well. The main opportunities lie in further scaling these specialized platforms and maintaining strong credit performance; the main risks are earnings volatility, concentration in niche markets, and the challenge of integrating and managing a broader set of businesses over time.