CSWC on Nasdaq
CAPITAL SOUTHWEST CORP
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Last updated Oct 16, 2026.
Overview
$113.0MNet income, fiscal 20262
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2026
Financial statements
Every line of the income statement in the latest annual report, as filed.2
| Period ending | 2026-03-31 | 2025-03-31 | 2024-03-31 |
|---|---|---|---|
| Other income | $2.0M | $2.4M | $545.0K |
| Total investment income | $232.1M | $204.4M | $178.1M |
| Compensation | $11.9M | $11.1M | $10.6M |
| Share-based compensation | $5.0M | $7.0M | $4.5M |
| Interest | $66.6M | $55.0M | $43.1M |
| Professional fees | $5.0M | $4.7M | $3.7M |
| General and administrative | $7.0M | $6.2M | $5.2M |
| Total operating expenses | $95.5M | $84.0M | $67.2M |
| Income before taxes | $136.6M | $120.4M | $110.9M |
| Federal income, excise and other taxes | $2.9M | $1.4M | $1.1M |
| Deferred taxes | -$1.8M | $841.0K | -$191.0K |
| Total income tax provision | $1.1M | $2.3M | $944.0K |
| Net investment income | $135.5M | $118.2M | $110.0M |
| Income tax provision | -$8.3M | -$2.9M | -$286.0K |
| Total net realized gain (loss) on investments, net of tax | $5.5M | -$49.6M | -$39.9M |
| Income tax benefit (provision) | $2.1M | -$3.7M | $17.0K |
| Total net unrealized (depreciation) appreciation on investments, net of tax | -$25.8M | $2.4M | $13.6M |
| Net realized and unrealized (losses) gains on investments | -$20.3M | -$47.2M | -$26.3M |
| Realized loss on extinguishment of debt | -$2.2M | -$387.0K | -$361.0K |
| Realized loss on disposal of fixed assets | -$2.0K | -$20.0K | $0 |
| Net increase in net assets from operations | $113.0M | $70.5M | $83.4M |
| Pre-tax net investment income per share - basic (in usd per share) | $2 | $2 | $3 |
| Net investment income per share basic (in usd per share) | $2.37 | $2.46 | $2.70 |
| Net increase in net assets from operations basic (in usd per share) | $1.98 | $1.47 | $2.05 |
| Net increase in net assets from operations - diluted (in usd per share) | $1.90 | $1.47 | $2.05 |
| Weighted average common shares outstanding basic (in shares) | 56.5M shares | 47.4M shares | 40.7M shares |
| Weighted average common shares outstanding diluted (in shares) | 65.8M shares | 51.2M shares | 40.7M shares |
Every line of the balance sheet in the latest annual report, as filed.2
| Period ending | 2026-03-31 | 2025-12-31 | 2025-09-30 |
|---|---|---|---|
| Investments at fair value | $2.1B | ||
| Cash and cash equivalents | $29.0M | ||
| Restricted cash | $400.0K | ||
| Dividends and interest | $31.7M | ||
| Escrow | $612.0K | ||
| Other | $2.2M | ||
| Income tax receivable | $717.0K | ||
| Debt issuance costs (net of accumulated amortization of $13,172 and $10,357, respectively) | $6.9M | ||
| Other assets | $8.6M | ||
| Total assets | $2.2B | ||
| Credit Facilities | $345.0M | ||
| Other liabilities | $21.6M | ||
| Accrued restoration plan liability | $529.0K | ||
| Income tax payable | $636.0K | ||
| Deferred tax liability | $12.5M | ||
| Total liabilities | $1.2B | ||
| Common stock, $0.25 par value: authorized, 75,000,000 shares at March 31, 2026 and March 31, 2025; issued, 60,577,181 shares at March 31, 2026 and 52,912,796 shares at March 31, 2025 | $15.1M | ||
| Additional paid-in capital | $1.1B | ||
| Total distributable (loss) earnings | -$79.0M | ||
| Total net assets | $1.0B | ||
| Total liabilities and net assets | $2.2B | ||
| Net asset value per share (in usd per share) | $16.69 | $16.75 | $16.62 |
| Cost | $2.1B | ||
| Accumulated amortization | $13.2M | ||
| Unamortized debt issuance costs | $16.8M | ||
| Common stock, par value (in usd per share) | $0.25 | ||
| Common stock, authorized (in shares) | 75.0M shares | ||
| Common stock, issued (in shares) | 60.6M shares | ||
| Common stock, outstanding (in shares) | 60.6M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.2
| Period ending | 2026-03-31 | 2025-03-31 | 2024-03-31 |
|---|---|---|---|
| Net increase in net assets from operations | $113.0M | $70.5M | $83.4M |
| Purchases and originations of investments | -$683.2M | -$620.5M | -$497.5M |
| Proceeds from sales and repayments of debt investments in portfolio companies | $340.0M | $276.9M | $191.4M |
| Proceeds from sales and return of capital of equity investments in portfolio companies | $39.3M | $18.0M | $4.1M |
| Proceeds from return of capital of investment in I-45 SLF LLC | $0 | $0 | $12.8M |
| Payment of accreted original issue discounts | $2.7M | $2.5M | $2.2M |
| Payment of accrued payment-in-kind interest | $510.0K | $975.0K | $0 |
| Depreciation and amortization | $7.0M | $5.9M | $4.3M |
| Net pension benefit | -$67.0K | -$66.0K | -$66.0K |
| Realized (gain) loss on investments before income tax | -$14.8M | $46.8M | $40.0M |
| Realized loss on extinguishment of debt | $2.2M | $387.0K | $361.0K |
| Realized loss on disposal of fixed assets | $2.0K | $20.0K | $0 |
| Net unrealized depreciation (appreciation) on investments before income tax | $28.0M | -$6.1M | -$13.6M |
| Accretion of discounts on investments | -$9.6M | -$6.7M | -$5.2M |
| Payment-in-kind interest | -$14.1M | -$12.9M | -$11.2M |
| Share-based compensation expense | $5.0M | $7.0M | $4.5M |
| Deferred income taxes | -$4.3M | $4.8M | -$119.0K |
| Increase in dividend and interest receivable | -$4.4M | -$8.1M | -$4.8M |
| Decrease (increase) in escrow receivables | $2.7M | -$1.9M | $272.0K |
| (Increase) decrease in tax receivable | -$623.0K | $241.0K | $31.0K |
| Decrease (increase) in other receivables | $491.0K | -$1.8M | $627.0K |
| Decrease (increase) in other assets | $280.0K | -$1.4M | -$706.0K |
| (Decrease) increase in taxes payable | -$2.1M | $2.5M | $126.0K |
| (Decrease) increase in other liabilities | -$1.4M | $5.7M | $618.0K |
| Net cash (used in) provided by operating activities | -$193.5M | -$217.3M | -$188.5M |
| Acquisition of fixed assets | -$286.0K | -$1.7M | -$13.0K |
| Net cash used in investing activities | -$286.0K | -$1.7M | -$13.0K |
| Proceeds from common stock offering | $157.8M | $178.5M | $181.5M |
| Borrowings under Credit Facilities | $588.0M | $368.0M | $305.0M |
| Repayments of Credit Facilities | -$586.0M | -$290.0M | -$275.0M |
| Debt issuance costs paid | -$2.3M | -$1.6M | -$10.2M |
| Proceeds from issuance of SBA Debentures | $46.8M | $21.5M | $32.2M |
| Proceeds from issuance of September 2030 Notes | $344.2M | $0 | $0 |
| Proceeds from issuance of 2029 Convertible Notes | $0 | $223.1M | $0 |
| Proceeds from issuance of August 2028 Notes | $0 | $0 | $69.7M |
| Dividends to shareholders | -$147.2M | -$125.3M | -$102.9M |
| Common stock withheld for payroll taxes upon vesting of restricted stock | -$1.1M | -$2.7M | -$1.1M |
| Net cash provided by financing activities | $178.4M | $231.5M | $199.2M |
| Net (decrease) increase in cash, cash equivalents and restricted cash | -$15.4M | $12.6M | $10.7M |
| Cash paid for income taxes | $12.3M | $1.4M | $1.2M |
| Cash paid for interest | $63.8M | $46.6M | $37.8M |
| Distributions in kind received | $0 | $0 | $72.5M |
Recent filings
- Oct 1, 20264
- Sep 15, 20268-K
- Sep 11, 2026497AD
- Sep 11, 2026497AD
- Sep 11, 2026424B2
- Sep 10, 2026424B2
- Sep 10, 2026FWP
- Sep 2, 20268-K
- Sep 1, 20268-K
- Aug 27, 20268-K
- Aug 25, 2026DEFA14A
- Aug 25, 2026DEFA14A
- Aug 25, 2026DEFA14A
- Aug 14, 2026DEFA14A
- Aug 12, 20264
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
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