SLR Investment Corp Dossier - Source-backed chat

SLR Investment Corp

SLRCNASDAQ

SectorFinancials

IndustryAsset Management & Custody Banks

Beta (adjusted)0.76

Intrinsic Value

Insufficient data for a value estimateNot enough reliable inputs to publish a fair value for this company yet.

Market Price $11.67Price as of 1 Oct 2026

Data confidence Sign in to view data confidence

Market Cap $636.7M

Enterprise Value $1.4B

Shares Outstanding 54.6M diluted

Next Earnings Date4 Nov 2026

Last ex-dividend12 Jun 2026

All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference.

Thesis

Street consensus, scenarios, merits, risks, and invalidation triggers

AI-assisted

Thesis Summary

SLR Investment Corp. (SLRC) offers a highly diversified, specialty finance-focused BDC portfolio with strong credit quality, highlighted by zero non-accruals. However, sequential declines in Net Investment Income (NII) driven by lagged impacts of interest rate cuts, slower deal activity, and lower fee income have pressured earnings. This prompted a dividend reset to $0.31 per share in Q1 2026. While the permanent reduction in the performance-based incentive fee to 17.5% improves alignment with shareholders, a Hold rating is maintained pending evidence of dividend coverage stabilization and successful execution of new sourcing initiatives.

This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today.

Street view · analyst 12-month targets8 analysts · as of 18 Aug 2026

Low · most bearish analyst$12.00

Mean target$15.38

High · most bullish analyst$18.00

Our research · scenarios, merits, risks, and invalidation triggersResearch as of 19 Jun 2026

Scenarios · 12-month scenario targetsAnchored at research date

Bear CaseDownside scenario

$11.0020%

Further macroeconomic deterioration leads to rising credit defaults, pushing assets onto non-accrual status. Continued rate cuts compress asset yields faster than liability costs, further squeezing NII and threatening the sustainability of the newly reset $0.31 dividend.

Base CaseCentral scenario

$13.5050%

The portfolio maintains its strong credit profile with near-zero non-accruals. NII stabilizes around $0.33 to $0.35 per share, comfortably covering the reset $0.31 quarterly distribution. The stock continues to trade at a moderate discount to NAV, reflecting stable but unexciting growth.

Bull CaseUpside scenario

$15.5030%

New asset-based lending (ABL) sourcing partnerships with large commercial banks and expansion of origination teams drive robust portfolio growth. Stabilizing interest rates and a rebound in M&A activity rebuild NII back toward historical $0.40 per share levels, leading to a dividend increase and narrowing the stock's discount to NAV.

Scenarios are anchored to street consensus at the research date, with our probabilities and rationale.

Key Investment Merits

Excellent credit quality with 100% of the portfolio performing and zero non-accruals as of Q1 2026.
Highly diversified portfolio across specialty finance asset classes (ABL, equipment finance, life sciences) with limited cash flow lending exposure.
Permanent reduction in the performance-based incentive fee from 20% to 17.5% to better align manager and shareholder interests.
Ample liquidity with over $900 million of available capital for opportunistic deployment.

Key Investment Risks

Sensitivity to interest rate cuts due to a high concentration of floating-rate senior secured loans.
Sequential decline in NII and gross investment income due to lower prepayment fees and slower origination activity.
Potential for credit quality migration as the private credit market navigates the middle-to-late stages of the credit cycle.

Thesis Invalidation Triggers

Non-accruals rising above 1.5% of the portfolio at fair value.
NII per share falling below the $0.31 quarterly distribution level.
Net debt-to-equity ratio exceeding the upper target limit of 1.25x.

All scenarios are estimates and subject to change. Past performance is not indicative of future results.

Quality Pillars Members

This section is available to registered members. Create a free account or sign in to unlock the full breakdown.

Explore this dossier

ValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework.