Credit Suisse Investment Banking Pitch Book
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Osprey standalone financial summary
FY'14A-FY'20E per Osprey management as of September 2017
Fiscal year ending 12/31
2017E
(5 in millions except per share amounts)
Selected metrics
Total origination volume
Ending period AUM
Portfolio yield as % of avg loans
Net charge-offs / gross loans (excl. loans held for sale)
Run-off rate (% of BoP loans)
Net interest margin
Average interest-earning assets
Asset management income (% of avg. off B/S AUM)
Operating expenses/ end of period AuM
Pre-tax ROAE
After-tax ROAE
Leverage (debt / equity)
Selected balance sheet items
Net loans (including loans held for sale)
Unrestricted cash
Total assets
Corporate debt (net of financing fees)
Total debt (net of financing fees, debt discount, and OID)
Tangible book value
Book value
Basic shares outstanding (mm)
Book value per share
Selected income statement items
Interest income
Interest expense
Net interest income
Provision for credit losses
Net interest income after credit losses
Asset management income
Other non-interest income / (expense)
Total operating expenses
Earnings before tax
Net income
Diluted EPS
Selected cash flow items
Distributed cash flow)
2014A
$1,789
$3,381
6.09%
1.1%
46.0%
3.17%
$2,505
0.21%
1.36%
2.7%
1.7%
3.3x
$2,506
33
2,811
238
2,134
641
641
46.6
$13.75
$136
(58)
$78
(27)
$51
1
10
(45)
$17
$11
$0.21
$35
Source: Osprey public filings and Osprey management as of September 2017.
(1)
Includes senior unsecured notes net of capitalized financing fees.
Includes share repurchases and ordinary dividends.
(2)
2015A
$3,058
$6,949
6.27%
0.1%
45.0%
2.39%
$3,239
0.34%
0.76%
4.4%
2.6%
5.1x
$3,613
36
4,061
372
3,332
641
659
46.5
$14.17
$202
(121)
$81
(18)
$62
7
12
(52)
$29
$17
$0.35
$17
2016A
$1,874
$6,740
6.46%
1.0%
31.0%
2.19%
$4,050
0.43%
1.00%
7.4%
4.3%
5.1x
$3,383
154
4,041
374
3,311
629
647
42.8
$15.12
$251
(161)
$89
(28)
$62
13
41
(67)
$49
$28
$0.61
$43
$1,646
$7,158
6.40%
0.5%
35.0%
1.57%
$3,822
0.45%
0.64%
4.3%
2.5%
4.8x
$3,522
82
3,838
376
3,141
627
651
41.5
$15.68
$228
(169)
$59
(13)
$46
15
12
(46)
$28
$16
$0.39
$21
2018E
$2,175
$7,830
6.77%
0.8%
35.0%
1.86%
$3,629
0.47%
0.63%
7.7%
4.5%
4.5x
$3,274
24
3,508
80
2,835
608
630
37.2
$16.94
$238
(171)
$67
(9)
$59
19
21
(49)
$49
$29
$0.73
$53
2019E
$2,584
$8,349
7.10%
0.6%
35.0%
1.97%
$3,031
0.53%
0.60%
8.1%
4.8%
3.0x
$2,467
24
2,661
1,958
641
661
37.5
$17.65
$209
(149)
$60
$55
27
20
(50)
$53
$31
$0.83
$3
2020E
$2,721
$9,247
7.37%
0.7%
35.0%
2.88%
$2,504
0.55%
0.56%
10.1%
6.0%
2.6x
$2,381
25
2,570
1,825
683
702
37.7
$18.62
$179
(107)
$72
(8)
$64
35
21
(51)
$69
$41
$1.07
$3
Confidential
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