CAPITAL SOUTHWEST CORP CSWC

Nasdaq

Capital Southwest Corporation ("we," "our," "us," "CSWC," or the "Company"), a Texas corporation, is an internally managed closed-end, non-diversified investment company that has elected to be regulated as a business development company, or BDC, under the Investment Company Act of 1940, as amended, or the 1940 Act. Because CSWC is internally managed, all of the executive officers and other employees are employed by CSWC. Therefore, CSWC does not pay any external investment advisory fees, but instead directly incurs the operating costs associated with employing investment and portfolio management professionals.

Since September 30, 2015, we have pursued a credit-focused investment strategy. We specialize in providing customized financing to lower middle market ("LMM") companies in a broad range of industry segments located primarily in the United States. We invest primarily in first lien debt securities and also invest in preferred stock and common stock alongside our debt investments or through warrants. Our common stock trades on The Nasdaq Global Select Market under the ticker symbol "CSWC."

Last close 22.37 2026-10-23
Market cap $1.43B 2026-06-30 share count
52-week range 19.91 - 25.75

Valuation FY2025 figures against the last close

P/S—
P/E11.8x
P/FCF—
EV/EBITDA—
Dividend yield10.3%
Diluted EPS1.90

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
SG&A $7.0M$6.2M$5.2M$4.6M$4.1M$3.1M————
Interest expense ——$43.1M$28.9M$19.9M$17.9M————
Pre-tax income $136.6M$120.4M$110.9M$69.0M$43.3M$53.3M————
Income tax $1.1M$2.3M$944.0K$329.0K$615.0K$2.4M————
Net income $135.5M$118.2M$110.0M$68.7M$42.7M$50.9M————
EPS, basic 1.981.472.052.291.871.66————
EPS, diluted 1.901.472.052.291.871.66————
Shares, diluted (wtd. avg.) 65.8M51.2M40.7M30.0M22.8M19.1M18.0M16.1M16.1M15.9M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $29.0M$43.2M$32.3M$21.6M$11.4M$31.6M$13.7M———
Total assets $2.18B$1.88B$1.56B$1.26B$974.0M—————
Long-term debt $1.13B$956.1M$770.9M$637.6M$528.6M—————
Total liabilities $1.17B$999.2M$801.1M$667.3M$553.1M—————
Retained earnings -$79.0M-$88.7M-$52.5M-$41.8M-$10.3M—————
Total equity $1.01B$883.6M$755.7M$590.4M$420.9M$336.3M$272.2M———

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow -$193.5M-$217.3M-$188.5M-$227.1M-$182.7M-$68.3M————
Depreciation and amortisation $7.0M$5.9M$4.3M$2.8M$2.2M$2.0M————
Stock-based compensation $5.0M$7.0M$4.5M$3.7M$3.6M$2.9M————
Capital expenditure $286.0K$1.7M$13.0K$281.0K$2.0M$0————
Investing cash flow -$286.0K-$1.7M-$13.0K-$281.0K-$2.0M$0————
Financing cash flow $178.4M$231.5M$199.2M$237.5M$164.5M$86.1M————
Dividends paid $147.2M$125.3M$102.9M$71.1M$58.6M$39.9M————

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000017313-26-000042.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 50M 100M 150M Net income, FY2020: 50.9M Net income, FY2021: 42.7M Net income, FY2022: 68.7M Net income, FY2023: 110M Net income, FY2024: 118.2M Net income, FY2025: 135.5M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — — — — — — — — — —
Gross profit — — — — — — — — — —
Net income — — — — $50.9M $42.7M $68.7M $110.0M $118.2M $135.5M

Recent filings and events

  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Regulation FD disclosure Item 7.01
  • Material agreement signed Item 1.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Item 7.01
  • Shareholder vote Item 5.07
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.