TCPC on Nasdaq
BlackRock TCP Capital Corp.
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Last updated Oct 16, 2026.
Overview
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Financial statements
Every line of the income statement in the latest annual report, as filed.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total investment income | $201.8M | $259.4M | $209.3M |
| Interest and other debt expenses | $66.1M | $72.2M | $47.8M |
| Management fees | $21.8M | $24.5M | $24.0M |
| Professional fees | $3.7M | $3.2M | $2.2M |
| Administrative expenses | $1.9M | $2.4M | $1.5M |
| Insurance expense | $860.9K | $783.6K | $558.0K |
| Director fees | $755.0K | $821.2K | $936.8K |
| Custody fees | $364.3K | $380.6K | $365.1K |
| Incentive fees | $0 | $19.2M | $22.6M |
| Other operating expenses | $3.8M | $3.6M | $2.5M |
| Total operating expenses, before management fee waiver | $99.2M | $127.2M | $102.5M |
| Management fee waiver (Note 3) | -$7.3M | $0 | $0 |
| Total operating expenses, after management fee waiver | $92.0M | $127.2M | $102.5M |
| Net investment income before taxes | $109.8M | $132.3M | $106.8M |
| Excise tax expense | $683.4K | $522.6K | $247.3K |
| Net investment income | $109.1M | $131.8M | $106.6M |
| Net realized gain (loss) | -$278.1M | -$67.1M | -$31.6M |
| Net realized and unrealized gain (loss) | -$198.1M | -$194.9M | -$68.1M |
| Net increase (decrease) in net assets resulting from operations | -$88.9M | -$63.1M | $38.5M |
| Net increase (decrease) in net assets resulting from operations | -$88.9M | -$63.1M | $38.5M |
| Basic earnings (loss) per share | -$1.05 | -$0.79 | $0.67 |
| Diluted earnings (loss) per share | -$1.05 | -$0.79 | $0.67 |
| Basic weighted average common shares outstanding | 85.0M shares | 79.7M shares | 57.8M shares |
| Diluted weighted average common shares outstanding | 85.0M shares | 79.7M shares | 57.8M shares |
| Net change in unrealized appreciation (depreciation) | $80.1M | -$127.8M | -$36.4M |
Every line of the balance sheet in the latest annual report, as filed.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total investments | $1.5B | $1.8B | |
| Cash and cash equivalents | $61.1M | $91.6M | |
| Receivable for investments sold | $26.3M | $4.5M | |
| Interest, dividends and fees receivable | $21.5M | $22.8M | |
| Deferred debt issuance costs | $5.1M | $6.2M | |
| Due from broker | $0 | $818.0K | |
| Prepaid expenses and other assets | $3.1M | $2.4M | |
| Total assets | $1.7B | $1.9B | |
| Debt (net of deferred issuance costs of $5,299,866 and $7,974,601, respectively) | $1.0B | $1.1B | |
| Interest and debt related payables | $7.2M | $8.3M | |
| Management fees payable | $3.4M | $5.8M | |
| Reimbursements due to the Advisor | $1.3M | $932.2K | |
| Interest Rate Swap, at fair value | $0 | $731.8K | |
| Payable for investments purchased | $0 | $99.5K | |
| Accrued expenses and other liabilities | $4.9M | $3.7M | |
| Total liabilities | $1.1B | $1.1B | |
| Net Assets | $598.0M | $785.1M | |
| Common stock, $0.001 par value; 200,000,000 shares authorized, 84,564,578 and 85,080,447 shares issued and outstanding as of December 31,2025 and December 31, 2024, respectively | $84.6K | $85.1K | |
| Paid-in capital in excess of par | $1.7B | $1.7B | |
| Distributable earnings (loss) | -$1.1B | -$946.0M | |
| Total net assets | $598.0M | $785.1M | $687.6M |
| Total liabilities and net assets | $1.7B | $1.9B | |
| Net assets per share | $7.07 | $9.23 | $11.90 |
| Investment cost | $1.7B | $2.0B | |
| Net of deferred issuance costs | $5.3M | $8.0M | |
| Common stock, par value | $0.00 | $0.00 | |
| Common stock, shares authorized | 200.0M shares | 200.0M shares | |
| Common stock, shares issued | 84.6M shares | 85.1M shares | |
| Common stock, shares outstanding | 84.6M shares | 85.1M shares | 57.8M 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.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net increase (decrease) in net assets resulting from operations | -$88.9M | -$63.1M | $38.5M |
| Net realized (gain) loss | $278.1M | $67.1M | $31.6M |
| Change in net unrealized (appreciation) depreciation of investments | -$80.1M | $127.7M | $36.3M |
| Net amortization of investment discounts and premiums | -$13.1M | -$21.8M | -$5.8M |
| Amortization of original issue discount on debt | $285.5K | $371.0K | $214.8K |
| Interest and dividend income paid in kind | -$21.9M | -$15.8M | -$10.4M |
| Amortization of deferred debt issuance costs | $5.2M | $4.7M | $3.0M |
| Cash acquired in the Merger | $0 | $11.7M | $0 |
| Merger costs capitalized into purchase price | $0 | -$2.4M | $0 |
| Purchases of investments | -$251.3M | -$325.8M | -$215.7M |
| Proceeds from disposition of investments | $352.7M | $517.1M | $218.7M |
| Decrease (increase) in interest, dividends and fees receivable | -$1.6M | $11.7M | -$4.7M |
| Decrease (increase) in due from broker | $851.7K | $1.3M | $0 |
| Decrease (increase) in receivable for investments sold | -$21.8M | -$3.8M | $0 |
| Decrease (increase) in prepaid expenses and other assets | -$692.2K | $208.3K | $559.1K |
| Increase (decrease) in payable for investments purchased | -$99.5K | -$1.5M | -$977.5K |
| Increase (decrease) in incentive fees payable | $0 | -$6.7M | $464.1K |
| Increase (decrease) in interest and debt related payables | -$1.1M | -$3.0M | $1.1M |
| Increase (decrease) in Interest Rate Swap, at fair value | -$774.9K | -$996.3K | $0 |
| Increase (decrease) in reimbursements due to the Advisor | $339.9K | $87.6K | -$654.1K |
| Increase (decrease) in management fees payable | -$2.4M | -$1.8M | -$394.1K |
| Increase (decrease) in accrued expenses and other liabilities | $1.1M | -$1.9M | $683.0K |
| Net cash provided by (used in) operating activities | $154.9M | $293.1M | $92.5M |
| Draws on credit facilities | $282.2M | $372.8M | $292.7M |
| Repayments of credit facility draws | -$276.1M | -$622.5M | -$253.4M |
| Payments of debt issuance costs | -$1.4M | -$8.4M | -$1.4M |
| Dividends paid to shareholders | -$95.2M | -$122.5M | -$100.5M |
| Repurchase of shares | -$3.0M | -$4.5M | $0 |
| Repayment of unsecured notes | -$92.0M | -$250.0M | $0 |
| Proceeds from issuance of unsecured notes | $0 | $321.4M | $0 |
| Net cash provided by (used in) financing activities | -$185.4M | -$313.8M | -$62.6M |
| Net increase (decrease) in cash and cash equivalents (including restricted cash) | -$30.5M | -$20.7M | $29.8M |
| Interest payments | $59.6M | $68.8M | $42.6M |
| Excise tax payments | $478.2K | $165.5K | $48.6K |
| Investments | $0 | $587.0M | $0 |
| Interest, dividends and fees receivable | $0 | $10.4M | $0 |
| Due from broker | $0 | $2.0M | $0 |
| Other assets | $0 | $3.7M | $0 |
| Total non-cash assets acquired | $0 | $603.1M | $0 |
| Debt | $0 | $315.3M | $0 |
| Dividends payable | $0 | $7.3M | $0 |
| Management fees payable | $0 | $1.9M | $0 |
| Interest Rate Swap, at fair value | $0 | $1.7M | $0 |
| Incentive fees payable | $0 | $1.4M | $0 |
| Other liabilities | $0 | $4.5M | $0 |
| Total liabilities assumed | $0 | $332.0M | $0 |
| Issuance of shares in connection with the Merger | $0 | $280.5M | $0 |
| Merger costs capitalized into purchase price | $0 | $2.4M | $0 |
| Business acquisition, purchase discount | $21.9M |
Former names
Recent filings
- Oct 14, 2026SCHEDULE 13D
- Sep 25, 20268-K
- Sep 4, 20268-K
- Aug 28, 202640-33
- Aug 7, 202640-33
- Aug 6, 202610-Q
- Aug 6, 20268-K
- Jun 1, 20268-K
- May 29, 202640-33
- May 27, 20268-K
- May 7, 202610-Q
- May 7, 20268-K
- May 7, 2026IRANNOTICE
- Apr 30, 2026DEFA14A
- Apr 9, 202640-33
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
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