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In the News
Newtek Business Services: A Risky High Dividend
NEWT is currently trading near its 52 week low of $15.7 after falling almost 27% in the last month. Newtek might look like a bargain to some investors, but we believe it remains overvalued.
Newtek: A Logical Capital Return Framework Would Make Shares Attractive
The market hated the idea of losing its high-yield BDC to a bank holding setup. We called for a valuation compression and got the number we were looking for.
Newtek Business Services Corp. (NEWT) CEO Barry Sloane on Q2 2022 Results - Earnings Call Transcript
Newtek Business Services Corp. (NASDAQ:NEWT ) Q2 2022 Earnings Conference Call August 4, 2022 8:30 AM ET Company Participants Barry Sloane - Chairman, President and Chief Executive Officer Nicholas Leger - Executive Vice President and Chief Accounting Officer Conference Call Participants Paul Johnson - Keefe, Bruyette & Woods, Inc. Adam Morton - RBC Capital Markets, LLC Operator Good day. Thank you for standing by.
The Curious Case Of Newtek Business Services
NEWT is a company in an organizational transition. The company has historically paid out about 100% of earnings, but as a bank holding company, the distributions will be much more limited.
Newtek: Valuation Compression On Track
We had upgraded Newtek to neutral from our earlier short-sell idea as the stock entered the upper end of its normal valuation range. The stock has dropped another 21% since then.
Newtek Business Services Corp. CEO, Barry Sloane, to Present at the LD Micro by SRAX Invitational XII
BOCA RATON, Fla., June 02, 2022 (GLOBE NEWSWIRE) -- Newtek Business Services Corp., (Nasdaq: NEWT), an internally managed business development company (“BDC”), today announced that Newtek's CEO and President, Barry Sloane, will present at the LD Micro by SRAX Invitational XII at the Four Seasons Westlake Village, California on Wednesday, June 8, 2022 at 9:30 AM PDT (12:30 PM EDT), Track 4. Barry Sloane will be available for one-on-one meetings throughout the day. To schedule a meeting, please contact your LD Micro representative, or Jayne Cavuoto, Director of Investor Relations for Newtek, at 212-273-8179 or jcavuoto@newtekone.com .
3 Business Development Companies With Dividend Yields Over 8%
Bjusiness development companies offer generous yields because they're required to distribute substantially all of their earnings to shareholders. BDCs receive favorable tax treatment, and in return, they aren't allowed to retain earnings in the same way other companies are.
Newtek Business Services Corp. (NEWT) CEO Barry Sloane on Q1 2022 Results - Earnings Call Transcript
Newtek Business Services Corp. (NASDAQ:NEWT ) Q1 2022 Earnings Conference Call May 5, 2022 8:30 AM ET Company Participants Jayne Cavuoto - Director of Investor Relations Barry Sloane - President, Founder, and Chief Executive Officer Nick Leger - Chief Accounting Officer Conference Call Participants Paul Johnson - KBW Sure. Good morning, everybody.
Newtek (NEWT) Q1 Earnings Top Estimates
Newtek (NEWT) delivered earnings and revenue surprises of 10.77% and 4.01%, respectively, for the quarter ended March 2022. Do the numbers hold clues to what lies ahead for the stock?
Newtek Business Services Corp. to Report First Quarter 2022 Financial Results on Wednesday, May 4, 2022 After the Market Closes
BOCA RATON, Fla., April 22, 2022 (GLOBE NEWSWIRE) -- Newtek Business Services Corp., (Nasdaq: NEWT), an internally managed business development company (“BDC”), today announced that it will report its first quarter 2022 financial results after the market closes on Wednesday, May 4, 2022. A conference call to discuss these results will be hosted by Barry Sloane, Chief Executive Officer, and Nicholas Leger, Chief Accounting Officer, the following day, Thursday, May 5, 2022 at 8:30 am ET. The live conference call can be accessed by dialing (346) 248-7799 using the Meeting ID: 96364580000 and passcode 456097.
Financial details
Financial Performance
Yearly Fundamentals Overview
Last date of statement is 2021-12-31
| Metric | History | 2017-12-31 | 2018-12-31 | 2019-12-31 | 2020-12-31 | 2021-12-31 |
|---|---|---|---|---|---|---|
| Revenue per share | 4.42 | 4.15 | 4.59 | 3.54 | 6.99 | |
| Net income per share | 2.25 | 1.91 | 2.13 | 1.59 | 3.98 | |
| Operating cash flow per share | -3.95 | -3.94 | -4.6 | 0.84 | 6.66 | |
| Free cash flow per share | -3.98 | -3.97 | -4.61 | 0.84 | 6.66 | |
| Cash per share | 0.14 | 0.12 | 0.09 | 0.1 | 0.11 | |
| Book value per share | 16.06 | 15.36 | 16.67 | 16.05 | 19.1 | |
| Tangible book value per share | 16.06 | 15.36 | 16.67 | 16.05 | 19.1 | |
| Share holders equity per share | 16.06 | 15.36 | 16.67 | 16.05 | 19.1 | |
| Interest debt per share | 13.25 | 18.71 | 23.56 | 0.85 | 38.7 | |
| Market cap | 301.14M | 357.06M | 408.17M | 434.97M | 556.77M | |
| Enterprise value | 516.92M | 688.78M | 841.35M | 432.9M | 1.35B | |
| P/E ratio | 7.73 | 10.01 | 9.92 | 12.94 | 6.62 | |
| Price to sales ratio | 3.93 | 4.6 | 4.6 | 5.8 | 3.77 | |
| POCF ratio | -4.4 | -4.85 | -4.59 | 24.49 | 3.95 | |
| PFCF ratio | -4.37 | -4.81 | -4.58 | 24.5 | 3.95 | |
| P/B Ratio | 1.08 | 1.24 | 1.27 | 1.28 | 1.38 | |
| PTB ratio | 1.08 | 1.24 | 1.27 | 1.28 | 1.38 | |
| EV to sales | 6.75 | 8.87 | 9.48 | 5.78 | 9.15 | |
| Enterprise value over EBITDA | 9.76 | 12.92 | 12.9 | 8.51 | 12.72 | |
| EV to operating cash flow | -7.55 | -9.35 | -9.46 | 24.37 | 9.6 | |
| EV to free cash flow | -7.5 | -9.27 | -9.44 | 24.38 | 9.6 | |
| Earnings yield | 0.13 | 0.1 | 0.1 | 0.08 | 0.15 | |
| Free cash flow yield | -0.23 | -0.21 | -0.22 | 0.04 | 0.25 | |
| Debt to equity | 0.78 | 1.16 | 1.35 | 0 | 1.19 | |
| Debt to assets | 0.46 | 0.56 | 0.6 | 0.6 | 0.62 | |
| Net debt to EBITDA | 4.07 | 6.22 | 6.64 | -0.04 | 7.48 | |
| Current ratio | 3.19 | 5.19 | 5.89 | 0 | 0.01 | |
| Interest coverage | 0.08 | 0.53 | 0.58 | 0 | 0.31 | |
| Income quality | -1.76 | -2.06 | -2.16 | 0.53 | 1.67 | |
| Dividend Yield | 0.09 | 0.09 | 0.1 | 0.1 | 0.13 | |
| Payout ratio | 0.72 | 0.91 | 0.99 | 1.27 | 0.83 | |
| Sales general and administrative to revenue | 0.21 | 0.24 | 0.33 | 0.37 | 0.09 | |
| Research and developement to revenue | 0 | 0 | 0 | 0 | 0 | |
| Intangibles to total assets | 0 | 0 | 0 | 0 | 0 | |
| Capex to operating cash flow | 0.01 | 0.01 | 0 | 0 | 0 | |
| Capex to revenue | -0.01 | -0.01 | 0 | 0 | 0 | |
| Capex to depreciation | -1.11 | -1.3 | -0.25 | -0.02 | 0 | |
| Stock based compensation to revenue | 0 | 0 | 0 | 0 | 0 | |
| Graham number | 28.51 | 25.67 | 28.26 | 23.96 | 41.35 | |
| ROIC | 0 | 0.01 | 0.02 | 0 | 0.01 | |
| Return on tangible assets | 0.08 | 0.05 | 0.05 | 0.04 | 0.08 | |
| Graham Net | -13.32 | -17.59 | -22.4 | -21.54 | -29.02 | |
| Working capital | 21.52M | 62.32M | 72.52M | 0 | -314.36M | |
| Tangible asset value | 0 | 0 | 0 | 0 | 0 | |
| Net current asset value | -209.94M | -288.69M | -387.83M | 0 | -650.28M | |
| Invested capital | 0.78 | 1.16 | 1.35 | 0 | 1.98 | |
| Average receivables | 34.82M | 52.35M | 56.49M | 58.84M | 53.89M | |
| Average payables | 22.24M | 26.31M | 24.22M | 27.61M | 19.27M | |
| Average inventory | 0 | 0 | 0 | 0 | 0 | |
| Days sales outstanding | 51.47 | 215.4 | 222.58 | 286.52 | 120.87 | |
| Days payables outstanding | 319.1 | 433.2 | 531.34 | 0 | 0 | |
| Days of inventory on hand | 0 | 0 | 0 | 0 | 0 | |
| Receivables turnover | 7.09 | 1.69 | 1.64 | 1.27 | 3.02 | |
| Payables turnover | 1.14 | 0.84 | 0.69 | 0 | 0 | |
| Inventory turnover | 0 | 0 | 0 | 0 | 0 | |
| ROE | 0.14 | 0.12 | 0.13 | 0.1 | 0.21 | |
| Capex per share | -0.03 | -0.03 | -0.01 | 0 | 0 |
Quarterly Fundamentals Overview
Last date of statement is 2022-06-30 for Q2
| Metric | History | 2021-06-30 | 2021-09-30 | 2021-12-31 | 2022-03-31 | 2022-06-30 |
|---|---|---|---|---|---|---|
| Revenue per share | 1.42 | 1.48 | 1.65 | 0.97 | 1.09 | |
| Net income per share | 0.77 | 0.74 | 0.89 | 0.4 | 0.56 | |
| Operating cash flow per share | 3.87 | 1.3 | -0.48 | 0.27 | -2.97 | |
| Free cash flow per share | 3.87 | 1.3 | -0.48 | 0.27 | -2.97 | |
| Cash per share | 0.83 | 0.9 | 0.11 | 0.2 | 0.17 | |
| Book value per share | 16.38 | 16.24 | 17.92 | 16.5 | 16.33 | |
| Tangible book value per share | 16.38 | 16.24 | 17.92 | 16.5 | 16.33 | |
| Share holders equity per share | 16.38 | 16.24 | 17.92 | 16.5 | 16.33 | |
| Interest debt per share | 20.53 | 22.53 | 35.63 | 19.53 | 21.77 | |
| Market cap | 786.54M | 625.06M | 622.81M | 644.97M | 457.29M | |
| Enterprise value | 1.23B | 1.11B | 1.42B | 1.11B | 973.22M | |
| P/E ratio | 11.32 | 9.41 | 7.77 | 16.71 | 8.46 | |
| Price to sales ratio | 24.51 | 18.72 | 16.79 | 27.39 | 17.43 | |
| POCF ratio | 9.03 | 21.27 | -57.79 | 99.56 | -6.38 | |
| PFCF ratio | 9.03 | 21.27 | -57.79 | 99.56 | -6.38 | |
| P/B Ratio | 2.13 | 1.71 | 1.54 | 1.62 | 1.16 | |
| PTB ratio | 2.13 | 1.71 | 1.54 | 1.62 | 1.16 | |
| EV to sales | 38.17 | 33.18 | 38.23 | 47.02 | 37.09 | |
| Enterprise value over EBITDA | 58.16 | 44.83 | 57.65 | 72.25 | 52.55 | |
| EV to operating cash flow | 14.07 | 37.68 | -131.6 | 170.93 | -13.58 | |
| EV to free cash flow | 14.07 | 37.68 | -131.6 | 170.93 | -13.58 | |
| Earnings yield | 0.02 | 0.03 | 0.03 | 0.01 | 0.03 | |
| Free cash flow yield | 0.11 | 0.05 | -0.02 | 0.01 | -0.16 | |
| Debt to equity | 1.24 | 1.37 | 1.19 | 1.17 | 1.32 | |
| Debt to assets | 0.61 | 0.65 | 0.62 | 0.61 | 0.62 | |
| Net debt to EBITDA | 20.82 | 19.53 | 32.33 | 30.16 | 27.86 | |
| Current ratio | 0 | 0 | 0.01 | 0 | 0 | |
| Interest coverage | 0 | 0 | 1.18 | 0 | 0 | |
| Income quality | 5.01 | 1.77 | -0.54 | 0.67 | -5.3 | |
| Dividend Yield | 0.02 | 0.03 | 0.04 | 0.02 | 0.04 | |
| Payout ratio | 0.89 | 1.2 | 1.19 | 1.59 | 1.3 | |
| Sales general and administrative to revenue | 0.08 | 0.11 | 0.11 | 0.06 | 0.06 | |
| Research and developement to revenue | 0 | 0 | 0 | 0 | 0 | |
| Intangibles to total assets | 0 | 0 | 0 | 0 | 0 | |
| Capex to operating cash flow | 0 | 0 | 0 | 0 | 0 | |
| Capex to revenue | 0 | 0 | 0 | 0 | 0 | |
| Capex to depreciation | 0 | 0 | 0 | 0 | -0.18 | |
| Stock based compensation to revenue | 0 | 0 | 0 | 0 | 0 | |
| Graham number | 16.86 | 16.41 | 18.93 | 12.18 | 14.34 | |
| ROIC | 0 | 0 | 0.01 | 0 | 0 | |
| Return on tangible assets | 0.02 | 0.02 | 0.02 | 0.01 | 0.01 | |
| Graham Net | -23.43 | -26.93 | -27.22 | -24.41 | -23.51 | |
| Working capital | 0 | 0 | -314.36M | 0 | 0 | |
| Tangible asset value | 0 | 0 | 0 | 0 | 0 | |
| Net current asset value | 0 | 0 | -650.28M | 0 | 0 | |
| Invested capital | 1.24 | 1.37 | 1.98 | 1.17 | 1.32 | |
| Average receivables | 31.9M | 44.13M | 35.23M | 21.54M | 50.55M | |
| Average payables | 11.82M | 84.35M | 11.42M | 11.9M | 13.44M | |
| Average inventory | 0 | 0 | 0 | 0 | 0 | |
| Days sales outstanding | 118.51 | 179.87 | 118.71 | 82.3 | 272.87 | |
| Days payables outstanding | 0 | 0 | 0 | 0 | 0 | |
| Days of inventory on hand | 0 | 0 | 0 | 0 | 0 | |
| Receivables turnover | 0.76 | 0.5 | 0.76 | 1.09 | 0.33 | |
| Payables turnover | 0 | 0 | 0 | 0 | 0 | |
| Inventory turnover | 0 | 0 | 0 | 0 | 0 | |
| ROE | 0.05 | 0.05 | 0.05 | 0.02 | 0.03 | |
| Capex per share | 0 | 0 | 0 | 0 | 0 |
Frequently Asked Questions
What is Newtek Business Services Corp. stock symbol ?
Newtek Business Services Corp. is a US stock , located in Boca raton of Florida and trading under the symbol NEWT
What is Newtek Business Services Corp. stock quote today ?
Newtek Business Services Corp. stock price is $16.47 today.
Is Newtek Business Services Corp. stock public?
Yes, Newtek Business Services Corp. is a publicly traded company.
Company Profile
- Volume Average 149.31K
- Market Capitalization 397.48M
- Employee 104
- CEO Mr. Barry Sloane
- Headquarters Boca Raton,FLORIDA,US
- IPO Date 1980-03-17
-
Website
https://www.newtekone.com 
Newtek Business Services Corp. is a business development company specializing in providing financial and business services to the small-and medium-sized business market in the United States. The firm also seeks to invest in early stage businesses. The firm seeks to makes both debt and equity investments. Under debt investments, it focuses on first lien loans, which have terms of 1 to 25 years; second lien loans, which have terms of 5 to 25 years, and unsecured loans, which are provided to meet short-term funding needs and are repaid within 6 to 12 months. It operates through Electronic Payment Processing, Managed Technology Solutions, Small Business Finance, and Capcos segments. The company originates small business administration loans for the purpose of acquiring commercial real estate, machinery, equipment, and inventory, as well as to refinance debt and fund franchises, working capital, and business acquisitions; and offers small business loan servicing and consulting services to the Federal Deposit Insurance Corporation and various other financial institutions, as well as provides management services. Its electronic payment processing services include credit and debit card processing, check approval, ancillary processing equipment and software to merchants, eCommerce, electronic solutions to accept non-cash payments, check conversion, remote deposit capture, ACH processing, and electronic gift and loyalty card programs. The company also provides Website hosting, dedicated server, and cloud hosting services; Web design and development; Internet marketing; data storage and backup and other related services; and ecommerce services, such as payment processing, online shopping cart tools, Website design and Web related services; Accounts Receivable Financing, and The Secure Gateway. In addition, it offers Newtek Advantage, a mobile, real-time operating platform enabling a business to access data on a smartphone, tablet, laptop, or PC for eCommerce, credit/debit transactions, Website statistics, payroll, insurance, and business loans. Further, the company sells personal, commercial, and health/benefits lines of insurance products; and payroll management processing and employee tax filing services. It has strategic alliances with American International Group, CTAA, Navy Federal Credit Union, Credit Union National Association, Pershing, and others to provide agent services to small business clients. The firm seeks to invest in New York and Louisiana area. The firm seeks to invest $0.3 million to $3 million in businesses. It provides small business terms loans ranging from $0.05 million to $10 million. The firm also provides account receivable financing ranging from $0.05 million to $1.5 million. It also provides $0.05 million to $10 million financing to owner occupied real estate businesses whose average net income over the last 2 years must not exceed $2.5 million. Newtek Business Services Corp.,was founded in 1998 and converted to a BDC company in 2014 and is headquartered in Boca Raton, Florida with additional offices in Lake Success, New York, Garden City, New York; Miami, Florida; Milwaukee, Wisconsin; New Orleans, Louisiana; and New York, New York.
