Capital Southwest Announces Financial Results for Third Fiscal Quarter Ended December 31, 2024 and Announces Increase in Total Dividends to $0.64 per share for the Quarter Ending March 31, 2025
Capital Southwest (CSWC) reported strong financial results for Q3 FY2025 ended December 31, 2024. The company achieved pre-tax net investment income of $0.64 per share, surpassing both its regular dividend of $0.58 and supplemental dividend of $0.05 per share. The total investment portfolio reached $1.7 billion, with a credit portfolio of $1.5 billion comprising 98% first-lien senior secured debt.
The company originated $317.5 million in new commitments, including investments in nine new portfolio companies totaling $175.2 million. The weighted average yield on debt investments was 12.1%. The Board declared an increased total dividend of $0.64 per share for Q1 2025, consisting of a $0.58 regular dividend and a $0.06 supplemental dividend.
Notable metrics include net asset value (NAV) per share of $16.59, cash and cash equivalents of $36.0 million, and total net assets of $830.4 million. Current non-accruals represent 2.7% of the total investment portfolio with a fair value of $45.8 million.
Capital Southwest (CSWC) ha riportato risultati finanziari solidi per il terzo trimestre FY2025, terminato il 31 dicembre 2024. L'azienda ha raggiunto un reddito da investimento netto pre-tasse di $0.64 per azione, superando sia il dividendo ordinario di $0.58 che il dividendo supplementare di $0.05 per azione. Il portafoglio totale degli investimenti ha raggiunto $1.7 miliardi, con un portafoglio di credito di $1.5 miliardi, composto per il 98% da debito garantito di primo livello.
L'azienda ha originato $317.5 milioni in nuovi impegni, inclusi investimenti in nove nuove aziende del portafoglio per un totale di $175.2 milioni. Il rendimento medio ponderato sugli investimenti in debito è stato del 12.1%. Il Consiglio ha dichiarato un dividendo totale aumentato di $0.64 per azione per il primo trimestre del 2025, consistente in un dividendo ordinario di $0.58 e un dividendo supplementare di $0.06.
Metriche notevoli includono un valore netto degli attivi (NAV) per azione di $16.59, liquidità e disponibilità liquide di $36.0 milioni e un totale di attivi netti di $830.4 milioni. Gli attuali debitori in sofferenza rappresentano il 2.7% del portafoglio totale degli investimenti, con un valore equo di $45.8 milioni.
Capital Southwest (CSWC) reportó resultados financieros sólidos para el tercer trimestre del FY2025, finalizado el 31 de diciembre de 2024. La compañía logró un ingreso neto por inversiones antes de impuestos de $0.64 por acción, superando tanto su dividendo regular de $0.58 como el dividendo suplementario de $0.05 por acción. El portafolio total de inversiones alcanzó $1.7 mil millones, con un portafolio crediticio de $1.5 mil millones que comprende el 98% de deuda asegurada de primer nivel.
La compañía originó $317.5 millones en nuevos compromisos, incluyendo inversiones en nueve nuevas compañías del portafolio por un total de $175.2 millones. El rendimiento medio ponderado de las inversiones en deuda fue del 12.1%. La Junta declaró un dividendo total incrementado de $0.64 por acción para el primer trimestre de 2025, consistente en un dividendo regular de $0.58 y un dividendo suplementario de $0.06.
Métricas destacadas incluyen un valor neto de activos (NAV) por acción de $16.59, efectivo y equivalentes de efectivo de $36.0 millones, y un total de activos netos de $830.4 millones. Los actuales incumplimientos representan el 2.7% del portafolio total de inversiones, con un valor justo de $45.8 millones.
Capital Southwest (CSWC)는 2024년 12월 31일로 종료된 FY2025 3분기에 대한 강력한 재무 결과를 보고했습니다. 회사는 주당 세전 순투자 수익 $0.64를 달성하여, 일반 배당금 $0.58 및 추가 배당금 $0.05를 초과했습니다. 전체 투자 포트폴리오는 $1.7억 달러에 도달했으며, $1.5억 달러의 신용 포트폴리오는 98%의 1순위 보안 부채로 구성되어 있습니다.
회사는 $317.5 백만의 새로운 약정을 창출하였고, 이에 포함된 아홉 개의 새로운 포트폴리오 회사에 대한 투자 총액은 $175.2 백만입니다. 부채 투자에 대한 가중 평균 수익률은 12.1%였습니다. 이사회는 2025년 1분기 동안 주당 $0.64의 증가된 총 배당금을 선언했으며, 이 배당금은 $0.58의 일반 배당금과 $0.06의 추가 배당금으로 구성됩니다.
주목할 만한 지표로는 주당 순자산가치(NAV) $16.59, 현금 및 현금성 자산 $36.0 백만, 총 순자산 $830.4 백만이 있습니다. 현재의 연체율은 전체 투자 포트폴리오의 2.7%를 차지하며, 공정 가치로는 $45.8 백만입니다.
Capital Southwest (CSWC) a annoncé des résultats financiers solides pour le troisième trimestre de l'exercice 2025, se terminant le 31 décembre 2024. La société a réalisé un revenu net d'investissement avant impôts de 0,64 $ par action, dépassant à la fois son dividende régulier de 0,58 $ et son dividende supplémentaire de 0,05 $ par action. Le portefeuille d'investissement total a atteint 1,7 milliard $, avec un portefeuille de crédit de 1,5 milliard $ composé à 98 % de dettes garanties de premier rang.
La société a originairement 317,5 millions $ de nouveaux engagements, y compris des investissements dans neuf nouvelles sociétés de portefeuille totalisant 175,2 millions $. Le rendement moyen pondéré des investissements en dette était de 12,1 %. Le Conseil a déclaré un dividende total augmenté de 0,64 $ par action pour le premier trimestre de 2025, composé d'un dividende ordinaire de 0,58 $ et d'un dividende supplémentaire de 0,06 $.
Parmi les indicateurs notables, on trouve une valeur nette d'actif (NAV) par action de 16,59 $, des liquidités et équivalents de liquidités de 36,0 millions $ et un total d'actifs nets de 830,4 millions $. Les créances en défaut actuelles représentent 2,7 % du portefeuille d'investissement total, avec une valeur juste de 45,8 millions $.
Capital Southwest (CSWC) hat für das dritte Quartal des Geschäftsjahres 2025, das am 31. Dezember 2024 endete, solide Finanzergebnisse berichtet. Das Unternehmen erzielte ein vorsteuerliches Nettoanlageergebnis von $0.64 pro Aktie, was sowohl die reguläre Dividende von $0.58 als auch die zusätzliche Dividende von $0.05 pro Aktie übertraf. Das Gesamtinvestitionsportfolio erreichte $1.7 Milliarden, wobei ein Kreditportfolio von $1.5 Milliarden 98% erstrangig gesichert ist.
Das Unternehmen hat $317.5 Millionen an neuen Verpflichtungen aufgenommen, einschließlich Investitionen in neun neue Portfoliounternehmen, die insgesamt $175.2 Millionen ausmachen. Die gewichtete durchschnittliche Rendite auf die Schuldeninvestitionen betrug 12.1%. Der Vorstand erklärte eine erhöhte Gesamtdividende von $0.64 pro Aktie für das erste Quartal 2025, bestehend aus einer regulären Dividende von $0.58 und einer zusätzlichen Dividende von $0.06.
Bemerkenswerte Kennzahlen umfassen einen Nettoinventarwert (NAV) pro Aktie von $16.59, liquide Mittel und Zahlungsmitteläquivalente von $36.0 Millionen sowie ein Gesamtvermögen von $830.4 Millionen. Aktuelle Nicht-Zahlungen machen 2.7% des gesamten Investitionsportfolios mit einem fairen Wert von $45.8 Millionen aus.
- Pre-tax net investment income of $0.64 per share exceeded both regular and supplemental dividends
- Increased total dividend to $0.64 per share for Q1 2025
- Strong origination activity with $317.5 million in new commitments
- High-quality portfolio with 98% first-lien senior secured debt
- Attractive weighted average yield on debt investments at 12.1%
- Net realized and unrealized losses of $13.7 million
- Non-accruals at 2.7% of total investment portfolio ($45.8 million)
- $26.0 million net depreciation in credit portfolio
Insights
Capital Southwest delivered an impressive quarter marked by robust portfolio growth and strong income generation. The $0.64 pre-tax NII per share demonstrates excellent dividend coverage at 115% LTM, supporting the increased total dividend of $0.64 for Q1 2025 ($0.58 regular + $0.06 supplemental).
The portfolio quality metrics are particularly noteworthy: 98% first-lien composition provides strong downside protection, while the 2.7% non-accrual rate remains well-managed in the current market environment. The weighted average yield of 12.1% on debt investments reflects disciplined pricing in the middle market space.
Capital structure optimization continues with the successful issuance of $230M in 5.125% convertible notes and efficient equity raises through the ATM program. The regulatory leverage of 0.90x provides ample headroom for growth. The potential second SBIC license could add up to $175M in additional low-cost, long-term capital, enhancing the company's competitive positioning in the lower middle market.
The $317.5M in new commitments across diverse sectors demonstrates strong origination capabilities and maintains portfolio diversification. Healthcare and education investments feature prominently in new originations, sectors typically showing recession-resistant characteristics.
CSWC Reports Pre-Tax Net Investment Income of
DALLAS, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Capital Southwest Corporation (“Capital Southwest,” “CSWC” or the “Company”) (Nasdaq: CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, today announced its financial results for the third fiscal quarter ended December 31, 2024.
Third Quarter Fiscal Year 2025 Financial Highlights
- Total Investment Portfolio:
$1.7 billion - Credit Portfolio of
$1.5 billion :98% 1st Lien Senior Secured Debt$313.4 million in new committed credit investments during the quarter- Weighted Average Yield on Debt Investments:
12.1% - Current non-accruals with a fair value of
$45.8 million , representing2.7% of the total investment portfolio
- Equity Portfolio of
$158.8 million $4.1 million in new equity co-investments during the quarter
- Credit Portfolio of
- Pre-Tax Net Investment Income:
$30.7 million , or$0.64 per weighted average share outstanding - Estimated Undistributed Taxable Income ("UTI"):
$0.68 per share as of December 31, 2024 - LTM Operating Leverage:
1.6% for the quarter ended December 31, 2024 - Dividends: Paid
$0.58 per share Regular Dividend and$0.05 per share Supplemental Dividend115% LTM Pre-Tax NII Regular Dividend Coverage- Total Dividends for the quarter ended December 31, 2024 of
$0.63 per share
- Net Realized and Unrealized Depreciation:
$13.7 million , or0.8% of total investments at fair value$12.3 million of net appreciation related to the equity portfolio$26.0 million of net depreciation related to the credit portfolio
- Balance Sheet:
- Cash and Cash Equivalents:
$36.0 million - Total Net Assets:
$830.4 million - Net Asset Value (“NAV”) per Share:
$16.59
- Cash and Cash Equivalents:
In commenting on the Company’s results, Bowen Diehl, President and Chief Executive Officer, stated, “The December quarter was an active quarter for Capital Southwest, with approximately
Third Quarter Fiscal Year Investment Activities
Originations
During the quarter ended December 31, 2024, the Company originated
Undisclosed Portfolio Company,
Musiker Discovery Programs, Inc.,
Superior Health Parent LLC,
Mid-Florida Endodontics Management Company, LLC,
Undisclosed Portfolio Company,
Red Dog Operations Holding Company LLC,
Cumbria Capital MSO, LLC,
Undisclosed Portfolio Company,
Undisclosed Portfolio Company,
Prepayments and Exits
During the quarter ended December 31, 2024, the Company received full prepayments on two debt investments totaling
Versicare Management LLC: Proceeds of
Research Now Group, LLC: Proceeds of
Third Fiscal Quarter 2025 Operating Results
For the quarter ended December 31, 2024, Capital Southwest reported total investment income of
For the quarter ended December 31, 2024, total operating expenses (excluding interest expense) were
For the quarter ended December 31, 2024, interest expense was
For the quarter ended December 31, 2024, total pre-tax net investment income was
For the quarter ended December 31, 2024, there was a tax provision of
During the quarter ended December 31, 2024, Capital Southwest recorded total net realized and unrealized losses on investments of
The Company’s NAV at both December 31, 2024 and September 30, 2024 was
Liquidity and Capital Resources
At December 31, 2024, Capital Southwest had approximately
As of December 31, 2024, Capital Southwest had the following borrowings outstanding:
$190.0 million of total debt outstanding on the Corporate Credit Facility$118.0 million of total debt outstanding on the SPV Credit Facility$148.7 million , net of unamortized debt issuance costs, of the3.375% Notes due October 2026$70.1 million , net of unamortized debt issuance costs, of the7.75% Notes due August 2028$222.7 million , net of amortized debt issuance costs, of the5.125% convertible notes due November 2029$170.7 million , net of unamortized debt issuance costs, of SBA Debentures (as defined below)
In August 2016, CSWC entered into a senior secured credit facility (the “Corporate Credit Facility”) to provide additional liquidity to support its investment and operational activities. Borrowings under the Corporate Credit Facility accrue interest on a per annum basis at a rate equal to the applicable SOFR rate plus
Capital Southwest SPV LLC ("SPV") is a wholly owned special purpose vehicle that was formed to hold investments for the SPV Credit Facility (as defined below) to support our investment and operating activities. On March 20, 2024, SPV entered into a special purpose vehicle financing credit facility (the "SPV Credit Facility"). The SPV Credit Facility included an initial commitment of
On November 4, 2024, the Company issued
On December 9, 2024, the Company redeemed
The Company has an "at-the-market" offering (the "Equity ATM Program"), pursuant to which the Company may offer and sell, from time to time through sales agents, shares of its common stock. On May 21, 2024, the Company increased the maximum amount of shares of its common stock to be sold through the Equity ATM Program from
On April 20, 2021, our wholly owned subsidiary, Capital Southwest SBIC I, LP (“SBIC I”), received a license from the Small Business Administration (the "SBA") to operate as a Small Business Investment Company ("SBIC") under Section 301(c) of the Small Business Investment Act of 1958, as amended. The SBIC license allows SBIC I to obtain leverage by issuing SBA-guaranteed debentures ("SBA Debentures"), subject to the issuance of a leverage commitment by the SBA. SBA debentures are loans issued to an SBIC that have interest payable semi-annually and a ten-year maturity. The interest rate is fixed shortly after issuance at a market-driven spread over U.S. Treasury Notes with ten-year maturities. As of December 31, 2024, SBIC I had a total leverage commitment from the SBA in the amount of
Share Repurchase Program
On July 28, 2021, the Company's board of directors (the "Board") approved a share repurchase program authorizing the Company to repurchase up to
Regular Dividend of
On January 29, 2025, the Board declared a total dividend of
The Company's dividend will be payable as follows:
| Regular Dividend | |
| Amount Per Share: | |
| Ex-Dividend Date: | March 14, 2025 |
| Record Date: | March 14, 2025 |
| Payment Date: | March 31, 2025 |
| Supplemental Dividend | |
| Amount Per Share: | |
| Ex-Dividend Date: | March 14, 2025 |
| Record Date: | March 14, 2025 |
| Payment Date: | March 31, 2025 |
When declaring dividends, the Board reviews estimates of taxable income available for distribution, which may differ from net investment income under generally accepted accounting principles. The final determination of taxable income for each year, as well as the tax attributes for dividends in such year, will be made after the close of the tax year.
Capital Southwest maintains a dividend reinvestment plan ("DRIP") that provides for the reinvestment of dividends on behalf of its registered stockholders who hold their shares with Capital Southwest’s transfer agent and registrar, American Stock Transfer and Trust Company. Under the DRIP, if the Company declares a dividend, registered stockholders who have opted into the DRIP by the dividend record date will have their dividend automatically reinvested into additional shares of Capital Southwest common stock.
Third Quarter 2025 Earnings Results Conference Call and Webcast
Capital Southwest has scheduled a conference call on Tuesday, February 4, 2025, at 11:00 a.m. Eastern Time to discuss the third quarter 2025 financial results. You may access the call by using the Investor Relations section of Capital Southwest's website at www.capitalsouthwest.com, or by using http://edge.media-server.com/mmc/p/viedrjap.
An audio archive of the conference call will also be available on the Investor Relations section of Capital Southwest’s website.
For a more detailed discussion of the financial and other information included in this press release, please refer to the Capital Southwest's Form 10-Q for the period ended December 31, 2024 to be filed with the Securities and Exchange Commission (the "SEC") and Capital Southwest’s Third Fiscal Quarter 2025 Earnings Presentation to be posted on the Investor Relations section of Capital Southwest’s website at www.capitalsouthwest.com.
About Capital Southwest
Capital Southwest Corporation (Nasdaq: CSWC) is a Dallas, Texas-based, internally managed business development company with approximately
Forward-Looking Statements
This press release contains historical information and forward-looking statements with respect to the business and investments of Capital Southwest, including, but not limited to, the statements about Capital Southwest's future performance and financial performance and financial condition, Capital Southwest's ability to continue to grow its balance sheet, the timing, form and amount of any distributions or supplemental dividends in the future, and Capital Southwest's receipt of a second SBIC license. Receipt of a green light letter provides no assurance that the SBA will ultimately issue an SBIC license, and Capital Southwest has received no assurance or indication from the SBA as such, or of a timeframe in which it would receive its second SBIC license, should one be granted. Forward-looking statements are statements that are not historical statements and can often be identified by words such as "will," "believe," "expect" and similar expressions and variations or negatives of these words. These statements are based on management's current expectations, assumptions and beliefs. They are not guarantees of future results and are subject to numerous risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statement. These risks include risks related to: changes in the markets in which Capital Southwest invests; changes in the financial, capital, and lending markets; changes in the interest rate environment and its impact on our business and our portfolio companies; regulatory changes; tax treatment; our ability to operate SBIC I as a small business investment company; an economic downturn and its impact on the ability of our portfolio companies to operate and the investment opportunities available to us; the impact of supply chain constraints and labor shortages on our portfolio companies; and the elevated levels of inflation and its impact on our portfolio companies and the industries in which we invests.
Readers should not place undue reliance on any forward-looking statements and are encouraged to review Capital Southwest's Annual Report on Form 10-K for the year ended March 31, 2024 and any subsequent filings with the SEC, including the "Risk Factors" sections therein, for a more complete discussion of the risks and other factors that could affect any forward-looking statements. Except as required by the federal securities laws, Capital Southwest does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changing circumstances or any other reason after the date of this press release.
Investor Relations Contact:
Michael S. Sarner, Chief Financial Officer
214-884-3829
| CAPITAL SOUTHWEST CORPORATION AND SUBSIDIARIES | |||||||
| CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES | |||||||
| (In thousands, except shares and per share data) | |||||||
| December 31, | March 31, | ||||||
| 2024 | 2024 | ||||||
| (Unaudited) | |||||||
| Assets | |||||||
| Investments at fair value: | |||||||
| Non-control/Non-affiliate investments (Cost: | $ | 1,471,215 | $ | 1,286,355 | |||
| Affiliate investments (Cost: | 221,044 | 190,206 | |||||
| Control investments (Cost: | 9,027 | — | |||||
| Total investments (Cost: | 1,701,286 | 1,476,561 | |||||
| Cash and cash equivalents | 36,013 | 32,273 | |||||
| Receivables: | |||||||
| Dividends and interest | 28,237 | 22,928 | |||||
| Escrow | — | 16 | |||||
| Other | 4,056 | 7,276 | |||||
| Income tax receivable | 668 | 336 | |||||
| Debt issuance costs (net of accumulated amortization of | 9,938 | 10,928 | |||||
| Other assets | 8,867 | 6,440 | |||||
| Total assets | $ | 1,789,065 | $ | 1,556,758 | |||
| Liabilities | |||||||
| SBA Debentures (net of | $ | 170,721 | $ | 148,695 | |||
| January 2026 Notes (net of | — | 139,388 | |||||
| October 2026 Notes (net of | 148,654 | 148,077 | |||||
| August 2028 Notes (net of | 70,075 | 69,693 | |||||
| 2029 Convertible Notes (net of | 222,744 | — | |||||
| Credit Facilities | 308,000 | 265,000 | |||||
| Other liabilities | 20,993 | 17,381 | |||||
| Accrued restoration plan liability | 556 | 570 | |||||
| Income tax payable | 1,251 | 281 | |||||
| Deferred tax liability | 15,629 | 11,997 | |||||
| Total liabilities | 958,623 | 801,082 | |||||
| Commitments and contingencies (Note 11) | |||||||
| Net Assets | |||||||
| Common stock, | 12,513 | 11,263 | |||||
| Additional paid-in capital | 903,513 | 796,945 | |||||
| Total distributable (loss) earnings | (85,584 | ) | (52,532 | ) | |||
| Total net assets | 830,442 | 755,676 | |||||
| Total liabilities and net assets | $ | 1,789,065 | $ | 1,556,758 | |||
| Net asset value per share (50,051,332 shares outstanding at December 31, 2024 and 45,050,759 shares outstanding at March 31, 2024) | $ | 16.59 | $ | 16.77 | |||
| CAPITAL SOUTHWEST CORPORATION AND SUBSIDIARIES | |||||||||||||||
| CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||||
| (Unaudited) | |||||||||||||||
| (In thousands, except shares and per share data) | |||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||
| December 31, | December 31, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Investment income: | |||||||||||||||
| Interest income: | |||||||||||||||
| Non-control/Non-affiliate investments | $ | 37,789 | $ | 33,627 | $ | 114,346 | $ | 97,924 | |||||||
| Affiliate investments | 4,767 | 4,214 | 14,253 | 12,691 | |||||||||||
| Control investments | 333 | — | 975 | — | |||||||||||
| Payment-in-kind interest income: | |||||||||||||||
| Non-control/Non-affiliate investments | 2,717 | 3,452 | 7,025 | 5,329 | |||||||||||
| Affiliate investments | 529 | 621 | 1,670 | 1,926 | |||||||||||
| Dividend income: | |||||||||||||||
| Non-control/Non-affiliate investments | 586 | 2,447 | 3,525 | 3,233 | |||||||||||
| Affiliate investments | — | 96 | 51 | 187 | |||||||||||
| Control investments | — | 2,129 | — | 6,439 | |||||||||||
| Fee income: | |||||||||||||||
| Non-control/Non-affiliate investments | 3,671 | 1,655 | 6,589 | 2,949 | |||||||||||
| Affiliate investments | 525 | 115 | 1,443 | 632 | |||||||||||
| Control investments | 8 | 17 | 75 | 62 | |||||||||||
| Other income | 1,048 | 193 | 2,081 | 332 | |||||||||||
| Total investment income | 51,973 | 48,566 | 152,033 | 131,704 | |||||||||||
| Operating expenses: | |||||||||||||||
| Compensation | 2,388 | 3,919 | 7,844 | 8,762 | |||||||||||
| Share-based compensation | 1,544 | 1,188 | 4,306 | 3,387 | |||||||||||
| Interest | 14,717 | 11,473 | 39,751 | 31,635 | |||||||||||
| Professional fees | 998 | 919 | 3,450 | 2,863 | |||||||||||
| General and administrative | 1,643 | 1,301 | 4,699 | 3,877 | |||||||||||
| Total operating expenses | 21,290 | 18,800 | 60,050 | 50,524 | |||||||||||
| Income before taxes | 30,683 | 29,766 | 91,983 | 81,180 | |||||||||||
| Federal income, excise and other taxes | 474 | 392 | 1,016 | 841 | |||||||||||
| Deferred taxes | (107 | ) | 515 | 627 | (270 | ) | |||||||||
| Total income tax provision | 367 | 907 | 1,643 | 571 | |||||||||||
| Net investment income | $ | 30,316 | $ | 28,859 | $ | 90,340 | $ | 80,609 | |||||||
| Realized (loss) gain | |||||||||||||||
| Non-control/Non-affiliate investments | $ | (12,889 | ) | $ | (7,849 | ) | $ | (22,374 | ) | $ | (13,445 | ) | |||
| Affiliate investments | 84 | — | 251 | (6,503 | ) | ||||||||||
| Control investments | — | — | (260 | ) | — | ||||||||||
| Income tax benefit (provision) | — | 7 | — | (286 | ) | ||||||||||
| Total net realized (loss) gain on investments, net of tax | (12,805 | ) | (7,842 | ) | (22,383 | ) | (20,234 | ) | |||||||
| Net unrealized (depreciation) appreciation on investments | |||||||||||||||
| Non-control/Non-affiliate investments | (5,229 | ) | 8,569 | (19,455 | ) | 4,648 | |||||||||
| Affiliate investments | 7,745 | (6,829 | ) | 7,193 | 1,302 | ||||||||||
| Control investments | (354 | ) | 778 | 408 | 2,944 | ||||||||||
| Income tax (provision) benefit | (3,009 | ) | (51 | ) | (2,720 | ) | 1,012 | ||||||||
| Total net unrealized (depreciation) appreciation on investments, net of tax | (847 | ) | 2,467 | (14,574 | ) | 9,906 | |||||||||
| Net realized and unrealized (losses) gains on investments | (13,652 | ) | (5,375 | ) | (36,957 | ) | (10,328 | ) | |||||||
| Realized loss on extinguishment of debt | (387 | ) | — | (387 | ) | (361 | ) | ||||||||
| Realized loss on disposal of fixed assets | (9 | ) | — | (9 | ) | — | |||||||||
| Net increase in net assets from operations | $ | 16,268 | $ | 23,484 | $ | 52,987 | $ | 69,920 | |||||||
| Pre-tax net investment income per share - basic | $ | 0.64 | $ | 0.72 | $ | 1.95 | $ | 2.05 | |||||||
| Net investment income per share – basic | $ | 0.63 | $ | 0.70 | $ | 1.92 | $ | 2.04 | |||||||
| Net increase in net assets from operations - diluted | $ | 0.34 | $ | 0.57 | $ | 1.12 | $ | 1.77 | |||||||
| Net increase in net assets from operations – basic | $ | 0.34 | $ | 0.57 | $ | 1.13 | $ | 1.77 | |||||||
| Weighted average shares outstanding – basic | 48,315,228 | 41,513,773 | 47,079,617 | 39,610,643 | |||||||||||
| Weighted average shares outstanding – diluted | 54,121,844 | 41,513,773 | 49,022,194 | 39,610,643 | |||||||||||
FAQ
What was CSWC's pre-tax net investment income per share for Q3 2024?
What is the new dividend structure announced by CSWC for Q1 2025?
How much new investment commitments did CSWC originate in Q3 2024?
What is CSWC's current portfolio composition and size?
What was CSWC's NAV per share as of December 31, 2024?
