What is Blackrock Tcp Capital Corp's earnings per share (EPS)?

Blackrock Tcp Capital Corp (TCPC) reported diluted earnings per share of $-1.05 for fiscal year 2025. This represents a -32.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Blackrock Tcp Capital Corp Financials

TCPC

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Blackrock Tcp Capital Corp (TCPC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI TCPC FY2025 2026-05-07

Positive operating cash flow is coexisting with recurring net losses, while shrinking equity makes the same debt load heavier.

Across FY2024-FY2025, operating cash flow stayed positive at $293.1M and $154.9M even as reported earnings stayed negative. Because equity fell while debt-to-equity rose from 142.4% to 173.2%, those cash inflows do not appear to be rebuilding capital; they are occurring alongside a thinner loss-absorbing base.

The balance sheet tightened in FY2025 not because borrowing surged, but because the capital underneath it shrank: total assets fell to $1.65B while equity dropped to $598.0M. When liabilities do not fall as fast as assets, each dollar of remaining equity supports more leverage, which helps explain the weaker return-on-assets and return-on-equity profile.

Interest expense at $59.2M still dwarfed overhead spending of about $1.9M, so this is not a business where economics change much through cost cutting alone. Cash on hand of $61.1M against total liabilities of $1.05B also suggests day-to-day flexibility depends more on asset cash generation and financing access than on a large cash cushion.

Financial Health Signals

Financial Profile 11/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Blackrock Tcp Capital Corp's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Leverage

Blackrock Tcp Capital Corp carries a low D/E ratio of 1.73, meaning only $1.73 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 67/100, indicating a strong balance sheet with room for future borrowing.

Returns

Blackrock Tcp Capital Corp generates a -14.9% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -8.0% the prior year.

Piotroski F-Score Weak

3/9

Blackrock Tcp Capital Corp passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.

Earnings Quality Mixed

-1.74x

For every $1 of reported earnings, Blackrock Tcp Capital Corp generates $-1.74 in operating cash flow ($154.9M OCF vs -$88.9M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

N/A

Net Income

-$88.9M

YoY-40.9%

Blackrock Tcp Capital Corp reported -$88.9M in net income in fiscal year 2025. This represents a decrease of 40.9% from the prior year.

EPS (Diluted)

$-1.05

YoY-32.9%

Blackrock Tcp Capital Corp earned $-1.05 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 32.9% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$61.1M

YoY-33.3%

5Y CAGR+25.0%

Blackrock Tcp Capital Corp held $61.1M in cash against $1.0B in long-term debt as of fiscal year 2025.

Dividends Per Share

$1.12

YoY-23.3%

5Y CAGR-3.2%

Blackrock Tcp Capital Corp paid $1.12 per share in dividends in fiscal year 2025. This represents a decrease of 23.3% from the prior year.

Shares Outstanding

85M

YoY-0.6%

Blackrock Tcp Capital Corp had 85M shares outstanding in fiscal year 2025. This represents a decrease of 0.6% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-14.9%

YoY-6.8pp

5Y CAGR-24.2pp

Blackrock Tcp Capital Corp's ROE was -14.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 6.8 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$3.0M

YoY-33.4%

Blackrock Tcp Capital Corp spent $3.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 33.4% from the prior year.

Capital Expenditures

N/A

TCPC Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$1.9M-19.5%	$2.4M+55.9%	$1.5M-13.0%	$1.8M-4.9%	$1.9M	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$59.2M-10.6%	$66.2M+50.5%	$44.0M+23.8%	$35.5M-0.6%	$35.7M-2.1%	$36.5M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$88.9M-40.9%	-$63.1M-264.1%	$38.5M+517.1%	-$9.2M-106.9%	$133.8M+87.4%	$71.4M
EPS (Diluted)	$-1.05-32.9%	$-0.79-217.9%	$0.67+518.8%	$-0.16-106.9%	$2.32+88.6%	$1.23

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$500K	N/A	$415K-18.6%	$510K-20.5%	$641K	N/A	$547K-7.9%	$594K
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$14.7M	N/A	$16.8M-1.6%	$17.1M+11.5%	$15.3M	N/A	$21.2M+7.3%	$19.7M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$16.3M	N/A	$24.4M+253.2%	-$15.9M-176.1%	$20.9M	N/A	$21.6M+142.2%	-$51.3M
EPS (Diluted)	$-0.19	N/A	$0.29+252.6%	$-0.19-176.0%	$0.25	N/A	$0.25+141.7%	$-0.60

TCPC Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$1.7B-14.2%	$1.9B+13.2%	$1.7B-1.2%	$1.7B-9.2%	$1.9B	N/A
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$61.1M-33.3%	$91.6M-18.4%	$112.2M+36.2%	$82.4M+321.6%	$19.6M-2.3%	$20.0M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.1B-7.5%	$1.1B+12.5%	$1.0B+4.0%	$972.6M-8.7%	$1.1B	N/A
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$1.0B-7.4%	$1.1B+13.5%	$985.2M+4.4%	$944.0M-6.8%	$1.0B	N/A
Total Equity	$598.0M-23.8%	$785.1M+14.2%	$687.6M-7.9%	$746.8M-10.0%	$829.5M+8.4%	$765.0M
Retained Earnings	-$1.1B-19.7%	-$946.0M-237.7%	-$280.1M-26.6%	-$221.2M	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$1.5B-8.5%	$1.7B-8.9%	$1.8B-6.5%	$1.9B+2.0%	$1.9B-1.3%	$1.9B-6.1%	$2.0B-7.7%	$2.2B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$93.3M+52.7%	$61.1M+0.1%	$61.0M-43.2%	$107.3M+8.3%	$99.1M+8.2%	$91.6M-12.1%	$104.2M-46.5%	$194.7M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$944.4M-10.3%	$1.1B-1.7%	$1.1B-10.5%	$1.2B+7.1%	$1.1B-1.8%	$1.1B-3.7%	$1.2B-12.2%	$1.3B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$925.8M-10.6%	$1.0B-1.5%	$1.1B-10.5%	$1.2B+6.9%	$1.1B-1.7%	$1.1B-3.6%	$1.2B-12.1%	$1.3B
Total Equity	$565.1M-5.5%	$598.0M-19.2%	$740.0M-0.1%	$740.5M-5.2%	$781.3M-0.5%	$785.1M-9.3%	$865.6M-0.9%	$873.1M
Retained Earnings	-$1.2B-2.7%	-$1.1B-14.3%	-$990.7M0.0%	-$990.4M-4.3%	-$949.8M-0.4%	-$946.0M-147.3%	-$382.5M-2.0%	-$375.1M

TCPC Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$154.9M-47.1%	$293.1M+217.0%	$92.5M-54.7%	$203.9M+346.9%	-$82.6M-167.5%	$122.3M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	-$185.4M+40.9%	-$313.8M-400.9%	-$62.6M+55.6%	-$141.1M-271.7%	$82.2M+155.8%	-$147.2M
Dividends Paid	$95.2M-22.3%	$122.5M+21.9%	$100.5M+42.6%	$70.5M+1.7%	$69.3M-9.5%	$76.6M
Share Buybacks	$3.0M-33.4%	$4.5M	$0	$0	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	$159.1M+292.6%	$40.5M-60.9%	$103.7M+347.8%	-$41.9M-179.7%	$52.5M-26.7%	$71.7M-29.5%	$101.6M+17.6%	$86.4M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	-$126.9M-213.8%	-$40.5M+73.0%	-$150.1M-399.7%	$50.1M+211.3%	-$45.0M+46.6%	-$84.3M+56.1%	-$192.1M-1459.1%	-$12.3M
Dividends Paid	$14.3M-32.4%	$21.2M-14.1%	$24.7M0.0%	$24.7M0.0%	$24.7M-34.1%	$37.4M+28.6%	$29.1M-40.3%	$48.7M
Share Buybacks	$2.3M-10.4%	$2.5M+1465.6%	$163K-40.7%	$274K+919.7%	$27K-99.4%	$4.5M	$0	$0

TCPC Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	-14.9%-6.8pp	-8.0%-13.6pp	5.6%+6.8pp	-1.2%-17.4pp	16.1%+6.8pp	9.3%
Return on Assets	-5.4%-2.1pp	-3.3%-5.5pp	2.3%+2.8pp	-0.5%-7.6pp	7.1%	N/A
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.73+0.3	1.420.0	1.43+0.2	1.26+0.0	1.22	N/A
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	-2.9%	N/A	3.3%+5.4pp	-2.1%-4.8pp	2.7%	N/A	2.5%+8.4pp	-5.9%
Return on Assets	-1.1%	N/A	1.4%+2.2pp	-0.8%-1.9pp	1.1%	N/A	1.1%+3.4pp	-2.3%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.64-0.1	1.73+0.3	1.42-0.2	1.59+0.2	1.41-0.0	1.42+0.1	1.34-0.2	1.51
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

Is Blackrock Tcp Capital Corp profitable?

No, Blackrock Tcp Capital Corp (TCPC) reported a net income of -$88.9M in fiscal year 2025.

How much debt does Blackrock Tcp Capital Corp have?

As of fiscal year 2025, Blackrock Tcp Capital Corp (TCPC) had $61.1M in cash and equivalents against $1.0B in long-term debt.

Does Blackrock Tcp Capital Corp pay dividends?

Yes, Blackrock Tcp Capital Corp (TCPC) paid $1.12 per share in dividends during fiscal year 2025.

What is Blackrock Tcp Capital Corp's return on equity (ROE)?

Blackrock Tcp Capital Corp (TCPC) has a return on equity of -14.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Blackrock Tcp Capital Corp's operating cash flow?

Blackrock Tcp Capital Corp (TCPC) generated $154.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Blackrock Tcp Capital Corp's total assets?

Blackrock Tcp Capital Corp (TCPC) had $1.7B in total assets as of fiscal year 2025, including both current and long-term assets.

Does Blackrock Tcp Capital Corp buy back shares?

Yes, Blackrock Tcp Capital Corp (TCPC) spent $3.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Blackrock Tcp Capital Corp have outstanding?

Blackrock Tcp Capital Corp (TCPC) had 85M shares outstanding as of fiscal year 2025.

What is Blackrock Tcp Capital Corp's debt-to-equity ratio?

Blackrock Tcp Capital Corp (TCPC) had a debt-to-equity ratio of 1.73 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Blackrock Tcp Capital Corp's return on assets (ROA)?

Blackrock Tcp Capital Corp (TCPC) had a return on assets of -5.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Blackrock Tcp Capital Corp's Piotroski F-Score?

Blackrock Tcp Capital Corp (TCPC) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Blackrock Tcp Capital Corp's earnings high quality?

Blackrock Tcp Capital Corp (TCPC) has an earnings quality ratio of -1.74x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Blackrock Tcp Capital Corp?

Blackrock Tcp Capital Corp (TCPC) scores 11 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.