Great Elm Capital Corp. GECC

Nasdaq

We are a Maryland corporation that was formed in April 2016. We operate as a closed‑end, externally managed, non-diversified management investment company that has elected to be regulated as a BDC under the Investment Company Act of 1940, as amended (the "Investment Company Act"). In addition, for tax purposes, we elected to be treated as a RIC under the Code, beginning with our tax year starting October 1, 2016.

We seek to generate both current income and capital appreciation through debt and income-generating equity investments, including investments in specialty finance businesses. To achieve our investment objective, we invest in secured and senior secured debt instruments of middle market companies, as well as income-generating equity investments in specialty finance companies, that we believe offer sufficient downside protection and have the potential to generate attractive returns. We generally define middle market companies as companies with enterprise values between $100 million and $2 billion.

Last close 4.90 2026-10-27
Market cap $68.1M 2026-06-30 share count
52-week range 4.63 - 8.14

Valuation FY2025 figures against the last close

P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield28.3%
Diluted EPS-2.57

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020
Revenue —$39.3M$35.8M$24.4M$25.3M$22.9M
Total operating expenses $32.1M$26.5M$23.0M$18.6M$12.9M$15.7M
Net income -$31.8M$3.6M$25.3M-$15.6M-$10.3M-$32.0M
EPS, basic -2.570.363.33-2.49-2.52-14.41
EPS, diluted -2.570.363.33-2.49-2.52-14.41
Shares, diluted (wtd. avg.) 12.4M9.8M7.6M6.3M4.1M2.2M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020
Cash and equivalents $1.8M$0$953.0K$587.0K$9.1M$52.6M
Total assets $340.8M$342.0M$246.8M$310.1M$426.3M—
Total liabilities $227.8M$205.9M$148.1M$225.3M$351.8M—
Retained earnings —$14.9M$11.4M$13.0M$9.7M—
Total equity $112.9M$136.1M$98.7M$84.8M$74.6M—

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020
Operating cash flow -$2.8M-$82.7M$25.7M-$41.8M-$58.5M$27.4M
Financing cash flow $4.6M$81.7M-$25.3M$33.2M$14.5M$21.2M
Dividends paid $19.2M$15.1M$10.6M$13.0M$9.9M$5.0M

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 0001193125-26-085697.

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. -40M -20M 0 20M 40M Revenue, FY2020: 22.9M Net income, FY2020: -32M Revenue, FY2021: 25.3M Net income, FY2021: -10.3M Revenue, FY2022: 24.4M Net income, FY2022: -15.6M Revenue, FY2023: 35.8M Net income, FY2023: 25.3M Revenue, FY2024: 39.3M Net income, FY2024: 3.6M Net income, FY2025: -31.8M FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $22.9M $25.3M $24.4M $35.8M $39.3M —
Gross profit — — — — — —
Net income -$32.0M -$10.3M -$15.6M $25.3M $3.6M -$31.8M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • 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
  • 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
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Other event Item 8.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Other event Item 8.01
  • 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.