PFX
PhenixFIN CorporationFinancial Services·Asset Management
$42.01
$81M market cap
Revenue
$20.5M
Free Cash Flow
$-22.7M
Rev Growth
+0.0%
FCF Margin
-110.6%
P/FCF
--
EV/FCF
--
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
PhenixFIN Corporation is a business development company. The firm seeks to invest in privately negotiated debt and equity securities of small and middle market companies. It primarily invests in the following sectors: business services; buildings and real estate; automobile; oil and gas; aerospace and defense; home and office furnishings, housewares, and durable consumer products; healthcare, education and childcare; personal, food, and miscellaneous services; retail stores, diversified or congl
2-Year Price History
$44.50+1.6%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q2 | 4.1 | 3.6 | 3.6 | 1.1 | -8.1 | -8.1 | -0.0 | 3,075 | 149.1 | 2.0 | 0.0% | 1.6x | -- |
| Act | 2026-Q1 | 7.4 | -1.9 | -1.9 | -4.8 | -2.0 | -2.0 | -0.0 | 3.4 | 146.5 | 2.0 | -3.9% | -0.8x | -- |
| Act | 2025-Q4 | 9.1 | 3.6 | 3.6 | 4.1 | -12.6 | -12.6 | -0.0 | 7.3 | 148.0 | 2.0 | 7.2% | 1.4x | -- |
Valuation & Metrics
Market Stats
Price$42.01
Market Cap$81M
Enterprise Value$-2.8B
P/S Ratio4.0x
P/FCF--
EV/FCF--
FCF Margin (TTM)-110.6%
FCF Yield-27.9%
Dividend Yield (TTM)0.2%
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$20.5M
Net Income$0.5M
Free Cash Flow$-22.7M
Revenue Growth (YoY)+0.0%
EBITDA Margin25.8%
Net Margin2.2%
FCF Margin-110.6%
CapEx % of Revenue0.0%
SBC % of Revenue0.0%
ROIC1.1%
WC Change % Rev-6383.0%
Interest Coverage0.7x
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares0.0M
Days to Cover1.0
Change (vs Prior)-7.9%
Need at least 2 settlement dates for chart
Employees
Headcount9
Revenue / Employee$2,279,193
Gross Profit / Employee$1,978,637
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
18.1%(-10.9% YoY)
16 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
0.0%(+0.0% YoY)
0 filers
Vanguard, iShares, SPDR
Market makers
0.0%(+0.0% YoY)
0 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| Adalta Capital Management LLC | $6.9M | $39.63 | +$0 | +$278K | -1.1% | $209M |
| AMERICAN FINANCIAL GROUP INC | $2.5M | $34.26 | +$0 | +$0 | -2.7% | $270M |
| MORGAN STANLEY | $2.1M | $49.30 | −$17K | −$267K | -0.3% | $1.65T |
| 22NW, LP | $1.7M | $34.26 | −$2.9M | −$2.9M | -0.5% | $127M |
| RAYMOND JAMES FINANCIAL INC | $935K | $48.00 | +$61K | +$163K | -0.0% | $322.69B |
| Bulldog Investors, LLC | $751K | $49.08 | +$0 | +$0 | -0.9% | $445M |
| Legal & General Group Plc | $602K | $39.82 | +$80K | +$39K | -0.1% | $432.24B |
| UBS Group AG | $19K | $39.69 | +$14K | −$64K | -0.3% | $562.11B |
| ADVISOR GROUP HOLDINGS, INC. | $16K | $48.53 | +$0 | −$6K | -0.3% | $67.63B |
| Allworth Financial LP | $11K | $36.05 | +$0 | −$76K | -0.3% | $22.87B |
| WELLS FARGO & COMPANY/MN | $10K | $43.47 | +$0 | −$0 | -0.2% | $497.71B |
| Legacy Wealth Managment, LLC/ID | $8K | $46.14 | +$0 | +$0 | -6.4% | $198M |
| Archer Investment Corp | $5K | $35.81 | +$0 | +$0 | -0.1% | $469M |
| Sound Income Strategies, LLC | $3K | $47.55 | +$0 | +$3K | -0.4% | $2.07B |
| MAI Capital Management | $0 | $49.08 | +$0 | −$0 | -0.1% | $17.61B |
| US BANCORP \DE\ | $0 | $44.11 | +$0 | +$0 | -0.1% | $82.36B |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)NEUTRAL
Holders
-1.09%
avg per quarter
Holders (ex-self)
-1.05%
excl. this stock
Buyers (this Q)
-0.18%
2 buyers · $0.00B in
Sellers (this Q)
-0.56%
2 sellers · $0.00B out
alpha coverage: 100% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
-33.8%
how holders react when this stock falls
On quiet Qs
-2.9%
−10% to +10% baseline
On rallies (+10%+)
-4.0%
how they react when this stock rises
Holders' portfolio flow this Q
+1.0%
inflows — adds are organic
Sellers' portfolio flow this Q
-0.6%
Sellers' overall flow ~ flat.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
+0.0%
Holder mid (any stock)
-1.0%
Holder rally (any stock)
-1.3%
Biggest decreases this quarter
Top-5 holders · 90.8%
Adalta Capital Management LLC--
AMERICAN FINANCIAL GROUP INC--
MORGAN STANLEY--
22NW, LP--
RAYMOND JAMES FINANCIAL INC--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
Adalta Capital Management LLC176KNORTHWESTERN MUTUAL WEALTH MANAGEMENT CO—22NW, LP43KAlmitas Capital LLC—AMERICAN FINANCIAL GROUP INC64KMORGAN STANLEY55KMoab Capital Partners LLC—RAYMOND JAMES FINANCIAL INC24KBulldog Investors, LLC19KCONFLUENCE INVESTMENT MANAGEMENT LLC—
Analyst Coverage
Analyst Coverage
Analyst Ratings
1
Hold: 1Consensus: Hold
Corporate
Insider Trading (last 12mo)
Open-market only (Form 4 P-Purchase + S-Sale). Excludes grants, option exercises, tax withholding, gifts.
Officers & directors
Buys ($, 12mo)
$111K
22 txns · 2 insiders · 2,292 sh
Sells ($, 12mo)
$0
0 txns · 0 insiders · 0 sh
Major holders (≥10% beneficial owners)
Buys ($, 12mo)
$2.41M
14 txns · 2 insiders · 58,655 sh
Sells ($, 12mo)
$0
0 txns · 0 insiders · 0 sh
Recent transactions
| Date | Side | Insider | Title | Shares | Price | Dollars | Owned $ |
|---|---|---|---|---|---|---|---|
| 2026-05-12 | BUY | Lorber David A | director, 10 percent owner, officer: CHAIRMAN AND CEO | 42,065 | $39.95 | $1.68M | $9.80M |
| 2026-03-03 | BUY | Amster Howard | director, 10 percent owner: | 11,500 | $42.56 | $489K | $10.57M |
| 2025-12-24 | BUY | Lorber David A | director, 10 percent owner, officer: CHAIRMAN AND CEO | 572 | $46.05 | $26K | $6.75M |
| 2025-12-23 | BUY | Lorber David A | director, 10 percent owner, officer: CHAIRMAN AND CEO | 133 | $45.59 | $6K | $6.66M |
| 2025-12-23 | BUY | McMillan Ellida | officer: CHIEF FINANCIAL OFFICER | 150 | $45.33 | $7K | $155K |
| 2025-12-22 | BUY | Lorber David A | director, 10 percent owner, officer: CHAIRMAN AND CEO | 1,000 | $45.44 | $45K | $6.63M |
| 2025-12-22 | BUY | McMillan Ellida | officer: CHIEF FINANCIAL OFFICER | 6 | $45.00 | $270 | $148K |
| 2025-12-17 | BUY | Lorber David A | director, 10 percent owner, officer: CHAIRMAN AND CEO | 908 | $44.74 | $41K | $6.48M |
| 2025-12-17 | BUY | McMillan Ellida | officer: CHIEF FINANCIAL OFFICER | 37 | $44.00 | $2K | $144K |
| 2025-12-16 | BUY | Lorber David A | director, 10 percent owner, officer: CHAIRMAN AND CEO | 138 | $44.45 | $6K | $6.40M |
| 2025-12-15 | BUY | Lorber David A | director, 10 percent owner, officer: CHAIRMAN AND CEO | 100 | $44.33 | $4K | $6.38M |
| 2025-09-23 | BUY | McMillan Ellida | officer: CHIEF FINANCIAL OFFICER | 248 | $47.75 | $12K | $154K |
| 2025-09-17 | BUY | ROBINSON LOWELL W | director | 44 | $48.26 | $2K | $145K |
| 2025-09-16 | BUY | ROBINSON LOWELL W | director | 86 | $48.09 | $4K | $142K |
| 2025-09-12 | BUY | ROBINSON LOWELL W | director | 100 | $48.09 | $5K | $138K |
| 2025-09-11 | BUY | ROBINSON LOWELL W | director | 162 | $48.05 | $8K | $133K |
| 2025-09-10 | BUY | ROBINSON LOWELL W | director | 34 | $48.05 | $2K | $125K |
| 2025-09-09 | BUY | ROBINSON LOWELL W | director | 250 | $48.17 | $12K | $124K |
| 2025-09-05 | BUY | ROBINSON LOWELL W | director | 49 | $48.15 | $2K | $112K |
| 2025-09-05 | BUY | Lorber David A | director, 10 percent owner, officer: CHAIRMAN AND CEO | 100 | $48.93 | $5K | $7.03M |
Order Flow (FINRA, ~3w lag)
84.0%retail-9.2pp
5.5%dark+1.6pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
PhenixFIN Corporation: Internalized Management Rewarding Itself Amidst Regulatory Failures and Opaque Valuations
Overall Risk
7/10
Fraud
5/10
Dilution
2/10
Insolvency
6/10
Earnings Overstated
8/10
Hidden Liabilities
4/10
Legal
7/10
Audit Warnings
6/10
Hidden Upside
3/10
Contextually Acceptable
4/10