1. Share Prices and P/NAV Multiples Have Expanded on Improved Sentiment YTD BDC shares have performed well YTD, both on an absolute and relative basis (vs. the S&P 500 Index) as multiples have expanded on improved investor sentiment. The tailwinds from higher benchmark interest rates have persisted through 1H23 (and our estimates reflect further benefits from rates ex...
Oaktree Specialty Lending股票討論
2. $Oaktree Specialty Lending (OCSL.US)$ - very high yield with rising earnings & high rates.
3. $美國銀行 (BAC.US)$ - still pretty cheap w/ sky-high margins
4. $Brookfield (BN.US)$ - cheap, good assets, very strong revenue growth, will gain if Fed cuts
5. $拼多多 (PDD.US)$ - only at 20 times earnings (ish) despite triple digit growth
6. $台積電 (TSM.US)$ - high moat, may sell this one if it ris...
新增数据：2023前3季度季报
2023前3季度营收增长2.5倍，主要原因是利息收入增长叠加费用下降的结果，加上所得税返还，使得净利润暴增3.46倍达到0.71亿，今年大概率能达到5年平均利润。
目前市盈率40.7，市盈率TTM已经降到了15.9，市净率1，可以谨慎选择(⭐️)
BDC shares have performed well YTD, both on an absolute and relative basis (vs. the S&P 500 Index) as multiples have expanded on improved investor sentiment. The tailwinds from higher benchmark interest rates have persisted through 1H23 (and our estimates reflect further benefits from rates ex...
净利息收入近4年保持增长，费用波动很大，因此净利润也波动巨大，5年平均净利为0.96亿。
资产负债率5年来从44.7%提升到了52.9%，资产主要由投资构成，负债主要由长期借款构成，长期借款占总资产的49%，占净资产的104%。
资产负债表比SVB健康，因为长期借款不会发生挤兑。
目前市盈率38.6，如果按0.96亿平均净利润计算，市盈率为15，市净率1.2。
这类业务模式其实比较新，可以放一些观察仓位试试水温。
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