Palmer Square Capital BDC Inc. PSBD
We are a financial services company that primarily lends to and invests in corporate debt securities of companies, including small to large private U.S. companies. We were organized as a Maryland corporation on August 26, 2019 and are structured as an externally managed, non-diversified closed-end management investment company. We have elected to be regulated as a business development company ("BDC") under the Investment Company Act of 1940, as amended (the "1940 Act"). Beginning with our taxable year ended December 31, 2020, we have elected to be treated as a regulated investment company (a "RIC") under Subchapter M of the Internal Revenue Code of 1986, as amended (the "Code"), and we expect to qualify as a RIC annually.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| SG&A | — | — | — | $1.9M | $1.8M | — |
| Total operating expenses | $70.9M | $81.0M | $55.3M | $34.5M | $17.6M | — |
| Operating income | — | — | — | -$33.4M | -$16.9M | — |
| Interest expense | — | — | $44.5M | $23.5M | $8.6M | — |
| Net income | -$3.2M | $47.7M | $107.8M | -$74.5M | $19.1M | — |
| EPS, basic | 1.66 | 1.93 | 2.26 | 1.78 | 1.47 | — |
| EPS, diluted | 1.66 | 1.93 | 2.26 | 1.78 | 1.47 | — |
| Shares, diluted (wtd. avg.) | 32.1M | 32.4M | 25.7M | 23.1M | 15.5M | 11.2M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $3.2M | $2.8M | $2.1M | $1.7M | $1.1M | $682.6K |
| Total assets | $1.22B | $1.43B | $1.12B | $1.06B | $1.22B | — |
| Total liabilities | $755.3M | $893.2M | $659.9M | $694.0M | $764.5M | — |
| Retained earnings | -$129.6M | -$73.3M | -$58.7M | -$110.5M | — | — |
| Total equity | $464.1M | $537.8M | $462.0M | $363.4M | $452.8M | $253.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | $160.7M | -$200.6M | $19.5M | $25.1M | -$438.0M | — |
| Financing cash flow | -$160.2M | $201.2M | -$19.1M | -$24.6M | $438.4M | — |
| Buybacks | $18.0M | $1.3M | $0 | $0 | — | — |
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 0001193125-26-073362.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — |
| Gross profit | — | — | — | — | — | — |
| Net income | — | $19.1M | -$74.5M | $107.8M | $47.7M | -$3.2M |
Recent filings and events
- 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
- 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
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- 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
- 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
- Other event Item 8.01
- Material agreement signed Item 1.01
- Other event Item 8.01
- Regulation FD disclosure Item 7.01
- Other event Item 8.01
- Other event Item 8.01
- Other event Item 8.01
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.