Equus Total Return, Inc. (EQS) | Investment Case

1. Company Snapshot

1.a. Company Description

Equus Total Return, Inc.is a business development company (BDC) specializing in leveraged buyouts, management buyouts, corporate partnerships/joint ventures, growth and expansion capital, acquisition financing, roll-up acquisition strategies, operational turnarounds, recapitalizations of existing businesses, special situations, equity and equity-oriented securities issued by privately owned companies, debt securities including subordinate debt, debt convertible into common or preferred stock, or debt combined with warrants and common and preferred stock, and preferred equity financing.It invests in small to mid-sized companies and acts as a lead investor.

It invests in technology, telecommunication, financial services, natural resource and industrial manufacturing and services.It invests in companies engaged in the alternative energy, real estate, healthcare, education, e-learning, leisure and entertainment, and foreign investment sector in the United States, China, India, and Europe.It investments include common and preferred stock, debt convertible into common or preferred stock, debt combined with warrants and options, and other rights to acquire common or preferred stock.

It seeks to invest in companies between $1 million to $25 million with revenues between $5 million and $150 million with EBITDA between $2 million to $50 million.It seeks to take control and non-control equity positions.Equus Total Return, Inc.

was founded in 1991 and is based in Houston, Texas with additional office in Vancouver, Canada.

Show Full description

1.b. Last Insights on EQS

Equus Total Return, Inc.'s recent positive momentum is driven by the appointment of Fraser Atkinson as Chairman and John J. May as Director, effective immediately. This leadership change is expected to bring fresh perspectives and expertise, potentially enhancing the Fund's investment strategy and decision-making process. With no recent earnings release, the focus remains on the new appointments, which may lead to improved governance and a more effective board composition.

1.c. Company Highlights

Last Price	1.69
Change Percentage	-5.64%
Open	1.69
Previous Close	1.79
Market Cap ( Millions)	23
Volume	525
Year High	2.49
Year Low	0.74
M A 50	1.99
M A 200	1.54

FCF Yield	225.52%
Dividend Yield	0.00%
ROE	-47.94%
Debt / Equity	11.90%
Net Debt / EBIDTA	-21.72%
Price To Book	0.87
Price Earnings Ratio	-1.55
Price To FCF	0.44
Price To sales	-3.98
EV / EBITDA	-1.81

2. Transcript Summary

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3. NewsRoom

Equus Announces Third Quarter Net Asset Value

Nov -24

Source: globenewswire.com

Head-To-Head Analysis: Equus Total Return (NYSE:EQS) and BlackRock MuniYield Pennsylvania Quality Fund (NYSE:MPA)

Nov -01

Source: defenseworld.net

EQUASENS : Bilan S1 2025 contrat de liquidité

Sep -29

Source: globenewswire.com

Equus Announces Second Quarter Net Asset Value

Aug -18

Source: globenewswire.com

Equus Subsidiary, Morgan E&P, Secures $3 Million Term Loan to Advance Drilling and Work-Over Program in North Dakota's Williston Basin

Aug -14

Source: globenewswire.com

Equus Subsidiary, Morgan E&P, Engages Michael Reger to Lead Operations in the Williston Basin

Aug -06

Source: globenewswire.com

Equus Receives Notice of Non-Compliance with New York Stock Exchange Share Price Rule

May -20

Source: globenewswire.com

Equus Announces First Quarter Net Asset Value

May -19

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (0.00%)

6. Segments

Investment and Related Activities

Expected Growth: 8.5%

Equus Total Return, Inc.'s diversified investment portfolio, comprising public equities, debt securities, and other investments, is poised for growth driven by increasing demand for alternative investment options, rising global economic growth, and a growing appetite for yield-generating assets.

7. Detailed Products

Equus Alternative Strategies

A range of alternative investment strategies designed to provide diversification and risk management solutions for institutional investors.

Equus Event-Driven Strategies

Investment strategies focused on capturing returns from corporate events, such as mergers and acquisitions, bankruptcies, and other special situations.

Equus Global Macro Strategies

Investment strategies focused on macroeconomic trends and global market opportunities, including currencies, commodities, and fixed income.

Equus Credit Strategies

Investment strategies focused on credit markets, including high-yield bonds, leveraged loans, and distressed debt.

Equus Real Assets

Investment strategies focused on real assets, including real estate, infrastructure, and natural resources.

8. Equus Total Return, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Equus Total Return, Inc. is medium due to the availability of alternative investment options in the market.

Bargaining Power Of Customers

The bargaining power of customers for Equus Total Return, Inc. is low due to the company's diversified customer base and lack of concentration.

Bargaining Power Of Suppliers

The bargaining power of suppliers for Equus Total Return, Inc. is medium due to the company's dependence on a few key suppliers for its investment operations.

Threat Of New Entrants

The threat of new entrants for Equus Total Return, Inc. is high due to the low barriers to entry in the investment management industry.

Intensity Of Rivalry

The intensity of rivalry for Equus Total Return, Inc. is high due to the highly competitive nature of the investment management industry.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	65.06%
Debt Cost	3.95%
Equity Weight	34.94%
Equity Cost	8.71%
WACC	5.61%
Leverage	186.20%

11. Quality Control: Equus Total Return, Inc. passed 4 out of 9 key points

Strong Liquidity

Low Deb

Strong Interest Coverage

Healthy Cash Flow

Operating Efficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Investcorp Credit Management BDC

A-Score: 6.5/10

Value: 7.8

Growth: 3.8

Quality: 7.3

Yield: 10.0

Momentum: 3.0

Volatility: 7.0

1-Year Total Return ->

SWK Holdings

A-Score: 6.2/10

Value: 6.6

Growth: 3.6

Quality: 8.3

Yield: 10.0

Momentum: 1.5

Volatility: 7.0

1-Year Total Return ->

Silvercrest Asset Management Group

A-Score: 5.8/10

Value: 6.5

Growth: 3.0

Quality: 6.4

Yield: 8.0

Momentum: 3.0

Volatility: 7.7

1-Year Total Return ->

Brookfield

A-Score: 4.9/10

Value: 8.8

Growth: 1.7

Quality: 3.6

Yield: 2.0

Momentum: 8.0

Volatility: 5.3

1-Year Total Return ->

Bridge Investment Group Holdings

A-Score: 4.7/10

Value: 5.3

Growth: 2.0

Quality: 3.6

Yield: 8.0

Momentum: 4.0

Volatility: 5.3

1-Year Total Return ->

Equus Total Return

A-Score: 4.7/10

Value: 8.2

Growth: 3.1

Quality: 4.9

Yield: 0.0

Momentum: 9.5

Volatility: 2.3

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

-11.57%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

5.61%

Equus Total Return, Inc. - US2947661003

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on EQS

1.c. Company Highlights

Cheaper

Lower Yield

Better Quality

Revenues Miss

Average Quality

Weak Momentum

Lower Growth

More Volatile

Strong Momentum

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (0.00%)

6. Segments

Investment and Related Activities

Expected Growth: 8.5%

7. Detailed Products

Equus Alternative Strategies

Equus Event-Driven Strategies

Equus Global Macro Strategies

Equus Credit Strategies

Equus Real Assets

8. Equus Total Return, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: Equus Total Return, Inc. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

1.69$

Current Price

1.69$

Potential

-0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA