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CSWCCapital Southwest Corporation
$22.98$1.4B
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CSWC logoCapital Southwest Corporation(CSWC)Earnings, Financials & Key Ratios

CSWC•NASDAQ•Banking & Credit
12.1× P/E·Price updated Jun 19, 2026
SectorFinancial ServicesIndustryAsset ManagementSub-IndustryPrivate credit and BDC lenders
AboutCapital Southwest Corporation is a business development company specializing in credit and private equity and venture capital investments in middle market companies, mezzanine, later stage, mature, late venture, emerging growth, buyouts, recapitalizations and growth capital investments. It does not invest in startups, publicly traded companies, real estate developments, project finance opportunities, oil and gas exploration businesses, troubled companies, turnarounds, and companies in which significant senior management is departing. In lower middle market, the firm typically invests in growth financing, bolt-on acquisitions, new platform acquisitions, refinancing, dividend recapitalizations, sponsor-led buyouts, and management buyouts situations. The investment structures are Unitranche debt, subordinated debt, senior debt, first and second lien debt, and preferred and common equity. The firm makes equity co-investments alongside debt investments, up to 20% of total check and only makes non-control investments. It prefers to invest in Industrial manufacturing and services, value-added distribution, healthcare products and services, business services, specialty chemicals, food and beverage, tech-enabled services and SaaS models. The firm seeks to invest in energy services and products, industrial technologies, and specialty chemicals and products. Within energy services and products, the firm seeks to invest in each segment of the industry, including upstream, midstream and downstream, excluding exploration and production with a focus on differentiated products and services, equipment and tool rental, consumable products, and drilling and completion chemicals. Within industrial technologies, it seeks to invest in automation and process controls, handling and packaging equipment, industrial filtration and fluid handling, measurement, monitoring and testing, professional tools, and sensors and instrumentation. Within and specialty chemicals and products, the firm seeks to invest in businesses that develop and manufacture highly differentiated chemicals and products including adhesives, coatings and sealants, catalysts and absorbents, cosmeceuticals, fine chemicals, flavors and fragrances, performance lubricants, polymers, plastics and composites, chemical dispensing and filtration equipment, professional and industrial trade consumables and tools, engineered solutions for HVAC, plumbing, and electrical installations, specified high performance materials for fire protection and oilfield applications. It may also invest in exceptional opportunities in building products. The firm seeks to invest in the United States. The firm seeks to make investments ranging from $5 to $25 million in securities. It seeks to make equity investments ranging from $5 million to $50 million and debt investments between $5 million and $20 million and co-invest in transaction size up to $40 million. It prefers to invest in companies with revenues approaching above $10 million, profitable operations, historical growth rate of at least 15 percent per year. Within the lower middle market, it seeks to invest in with less than $15 million in EBITDA and also opportunistically invests in the upper middle market, generally defined as companies with EBITDA in excess of $50 million. In addition to making direct investments, the firm allocates capital to syndicated first and second lien term loans in the upper middle market. Criteria for Upper Middle Market Syndicated 1st Lien is EBITDA Size more than $30 million, Closing Leverage greater than 4 times, investment hold size between $5 million and $7 million, investment yield greater than 6.5%. Criteria for Upper Middle Market Syndicated 2nd Lien is EBITDA Size more than $50 million, Closing Leverage greater than 6 times, investment hold size between $5 million and $7 million, investment yield greater than 9%. It prefers to take a majority and minority stake. The firm has the flexibility to hold investments for very long period in its portfolio companies. It may also invest through warrants. The firm prefers to take Board participation in its portfolio companies. Capital Southwest Corporation was founded on April 19, 1961 and is based in Dallas, Texas.Show more
  • Net Interest Income$153M+15.6%
  • Total Revenue$246M+50.1%
  • Net Income$113M+60.2%
  • Return on Equity11.93%+38.6%
  • Net Interest Margin7%
  • Efficiency Ratio17.46%-2.9%
  • ROA5.57%+35.7%
  • Equity / Assets46.43%-1.1%
  • Book Value per Share15.36-11.0%

CSWC Key Insights

Capital Southwest Corporation (CSWC) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong 5Y profit CAGR of 17.3%
  • ✓Strong NIM of 7.0%
  • ✓Efficient operations: 17.5% efficiency ratio
  • ✓Well capitalized: 46.4% equity/assets
  • ✓Trading at only 1.5x book value

✗Weaknesses

  • ✗Dividend payout exceeds 100% of earnings
  • ✗Shares diluted 28.6% in last year

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

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CSWC Price & Volume

Capital Southwest Corporation (CSWC) stock price & volume — 10-year historical chart

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CSWC Growth Metrics

Capital Southwest Corporation (CSWC) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years32.68%
5 Years27.65%
3 Years39.64%
TTM-

Profit CAGR

10 Years-
5 Years17.3%
3 Years50.58%
TTM60.17%

EPS CAGR

10 Years-
5 Years-6.58%
3 Years19.98%
TTM33.8%

Return on Capital

10 Years6.08%
5 Years5.8%
3 Years6.65%
Last Year9.31%

CSWC Recent Earnings

Capital Southwest Corporation (CSWC) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 6/12 qtrs (50%)●Beat Revenue 5/12 qtrs (42%)
Q2 2026Latest
May 13, 2026
Metric
Actual
Est
EPS
$0.57+1.8%
$0.56
Rev
$58M-6.5%
$62M
Q1 2026
Feb 2, 2026
Metric
Actual
Est
EPS
$0.64+9.0%
$0.59
Rev
$61M+5.7%
$58M
Q4 2025
Nov 3, 2025
Metric
Actual
Est
EPS
$0.57-1.7%
$0.58
Rev
$52M-8.6%
$57M
Q3 2025
Aug 6, 2025
Metric
Actual
Est
EPS
$0.59+0.0%
$0.59
Rev
$78M+43.4%
$54M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 13, 2026
$0.57vs $0.56+1.8%
$58Mvs $62M-6.5%
Q1 2026Feb 2, 2026
$0.64vs $0.59+9.0%
$61Mvs $58M+5.7%
Q4 2025Nov 3, 2025
$0.57vs $0.58-1.7%
$52Mvs $57M-8.6%
Q3 2025Aug 6, 2025
$0.59vs $0.59+0.0%
$78Mvs $54M+43.4%
Based on last 12 quarters of dataView full earnings history →

CSWC Peer Comparison

Capital Southwest Corporation (CSWC) competitors in Private credit and BDC lenders — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
Institutional Holdings
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
ARCC logoARCCAres Capital CorporationDirect Competitor12.95B18.039.6932.87%43.69%8.11%1.12
GBDC logoGBDCGolub Capital BDC, Inc.Direct Competitor3.22B12.358.7042.5%26.91%5.24%1.23
TPVG logoTPVGTriplePoint Venture Growth BDC Corp.Direct Competitor202.99M5.004.1036.55%-19.55%-3.39%1.33
SLRC logoSLRCSLR Investment Corp.Direct Competitor677.57M12.427.3124.76%39.78%7.31%1.15
PFLT logoPFLTPennantPark Floating Rate Capital Ltd.Direct Competitor742.15M7.4810.392.2%34.83%5.84%1.65
TRIN logoTRINTrinity Capital Inc.Direct Competitor1.17B16.838.59-2.19%55.8%14.73%1.20
OCSL logoOCSLOaktree Specialty Lending CorporationDirect Competitor1.02B11.5929.7260.93%17.43%3.45%1.01
FDUS logoFDUSFidus Investment CorporationDirect Competitor696.46M18.357.9140.09%62%11.45%0.87

Compare CSWC vs Peers

Capital Southwest Corporation (CSWC) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs ARCC

Most directly comparable listed peer for CSWC.

Scale Benchmark

vs BX

Larger-name benchmark to compare CSWC against a more recognizable public peer.

Peer Set

Compare Top 5

vs ARCC, GBDC, TPVG, SLRC

CSWC Income Statement

Capital Southwest Corporation (CSWC) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
MetricMar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Net Interest Income
17M25.12M31.08M38.35M48.55M76.21M117.66M131.91M152.52M
NII Growth %
46.64%47.8%23.72%23.39%26.58%56.99%54.39%12.11%15.62%
Net Interest Margin %
4.07%4.55%5.31%5.21%4.98%6.06%7.56%7.01%7%
Interest Income
21.87M37.3M46.99M56.29M68.47M105.08M160.75M186.87M219.14M
Interest Expense
4.88M12.18M15.84M17.94M19.92M28.87M43.09M54.96M66.62M
Loan Loss Provision
000-17.94M0000-52.67M
Non-Interest Income
36.19M23.75M-31.39M16.28M34.46M-14.76M-8.6M-23.06M26.8M
Non-Interest Income %
62.33%38.9%-201.22%22.44%33.48%-16.34%-5.65%-14.08%10.9%
Total Revenue
58.07M▲ 0%
61.05M▲ 5.1%
15.6M▼ 74.4%
72.58M▲ 365.2%
102.93M▲ 41.8%
90.33M▼ 12.2%
152.15M▲ 68.4%
163.81M▲ 7.7%
245.94M▲ 50.1%
Revenue Growth %
47.44%5.14%-74.45%365.23%41.82%-12.24%68.44%7.67%50.13%
Non-Interest Expense
13.82M14.95M15.91M17.02M36.16M21.39M24.46M29.44M42.93M
Efficiency Ratio
23.81%24.48%101.98%23.44%35.13%23.68%16.08%17.97%17.46%
Operating Income
39.37M▲ 0%
33.93M▼ 13.8%
-16.14M▼ 147.6%
55.56M▲ 444.1%
46.84M▼ 15.7%
40.07M▼ 14.5%
84.6M▲ 111.2%
79.41M▼ 6.1%
189.06M▲ 138.1%
Operating Margin %
67.8%55.57%-103.49%76.56%45.51%44.36%55.6%48.48%76.87%
Operating Income Growth %
53.93%-13.82%-147.59%444.14%-15.7%-14.46%111.16%-6.13%138.07%
Pretax Income
39.37M▲ 0%
33.93M▼ 13.8%
-16.14M▼ 147.6%
55.56M▲ 444.1%
46.84M▼ 15.7%
40.07M▼ 14.5%
84.6M▲ 111.2%
79.41M▼ 6.1%
120.28M▲ 51.5%
Pretax Margin %
67.8%55.57%-103.49%76.56%45.51%44.36%55.6%48.48%48.91%
Income Tax
62K870K6.21M4.68M4.03M6.97M1.21M8.87M7.29M
Effective Tax Rate %
0.16%2.56%-38.44%8.42%8.59%17.4%1.43%11.16%6.06%
Net Income
39.31M▲ 0%
33.06M▼ 15.9%
-22.35M▼ 167.6%
50.88M▲ 327.7%
42.81M▼ 15.9%
33.09M▼ 22.7%
83.39M▲ 152.0%
70.55M▼ 15.4%
113M▲ 60.2%
Net Margin %
67.69%54.15%-143.28%70.11%41.6%36.64%54.81%43.07%45.95%
Net Income Growth %
67.45%-15.9%-167.61%327.65%-15.86%-22.71%151.98%-15.4%60.17%
Net Income (Continuing)
39.31M33.06M-22.35M50.88M42.81M33.09M83.39M70.55M113M
EPS (Diluted)
2.44▲ 0%
1.98▼ 18.9%
-1.24▼ 162.6%
2.67▲ 315.3%
1.87▼ 30.0%
1.10▼ 41.2%
2.05▲ 86.4%
1.47▼ 28.3%
1.90▲ 29.3%
EPS Growth %
64.86%-18.85%-162.63%315.32%-29.96%-41.18%86.36%-28.29%29.25%
EPS (Basic)
2.451.98-1.242.671.871.102.051.471.98
Diluted Shares Outstanding
16.14M16.73M18M19.06M22.84M30.02M40.73M51.19M65.83M

CSWC Balance Sheet

Capital Southwest Corporation (CSWC) balance sheet — assets, liabilities & shareholders' equity

MetricMar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash & Short Term Investments
7.91M9.92M13.74M31.61M11.43M21.59M32.27M43.22M29.45M
Cash & Due from Banks
7.91M9.92M13.74M31.61M11.43M21.59M32.27M43.22M29.45M
Short Term Investments
000000000
Total Investments
000000002.1B
Investments Growth %
---------
Long-Term Investments
000000002.1B
Accounts Receivables
5.67M10.5M10.44M10.7M14.34M19.08M30.2M32.32M35.2M
Goodwill & Intangibles
000000000
Goodwill
000000000
Intangible Assets
000000000
PP&E (Net)
000000000
Other Assets
401.87M529.62M559.37M693.27M948.18M1.22B1.49B1.81B15.43M
Total Current Assets
13.57M20.42M24.18M42.32M25.77M40.66M62.48M75.54M64.64M
Total Non-Current Assets
403.92M531.42M560.77M693.27M948.18M1.22B1.49B1.81B2.11B
Total Assets
417.49M▲ 0%
551.84M▲ 32.2%
584.96M▲ 6.0%
735.58M▲ 25.7%
973.96M▲ 32.4%
1.26B▲ 29.1%
1.56B▲ 23.8%
1.88B▲ 20.9%
2.18B▲ 15.7%
Asset Growth %
28.16%32.18%6%25.75%32.41%29.13%23.78%20.95%15.65%
Return on Assets (ROA)
10.58%6.82%-3.93%7.71%5.01%2.97%5.93%4.1%5.57%
Accounts Payable
4.53M00000000
Total Debt
95.31M216.1M303.3M381.3M528.59M637.64M770.85M956.07M1.13B
Net Debt
87.4M206.18M289.55M349.69M517.16M616.06M738.58M912.84M1.1B
Long-Term Debt
95.31M216.1M303.3M381.3M528.59M637.64M770.85M956.07M1.13B
Short-Term Debt
000000000
Other Liabilities
9.37M9.78M9.44M18.03M24.5M29.63M30.23M43.14M22.79M
Total Current Liabilities
4.53M00000000
Total Non-Current Liabilities
104.68M225.88M312.74M399.33M553.09M667.28M801.08M999.21M1.17B
Total Liabilities
109.2M225.88M312.74M399.33M553.09M667.28M801.08M999.21M1.17B
Total Equity
308.29M▲ 0%
325.96M▲ 5.7%
272.22M▼ 16.5%
336.25M▲ 23.5%
420.87M▲ 25.2%
590.41M▲ 40.3%
755.68M▲ 28.0%
883.63M▲ 16.9%
1.01B▲ 14.4%
Equity Growth %
8.14%5.73%-16.49%23.52%25.16%40.28%27.99%16.93%14.41%
Equity / Assets (Capital Ratio)
73.84%59.07%46.54%45.71%43.21%46.94%48.54%46.93%46.43%
Return on Equity (ROE)
13.25%10.42%-7.47%16.72%11.31%6.54%12.39%8.61%11.93%
Book Value per Share
19.1019.4815.1217.6418.4319.6718.5517.2615.36
Tangible BV per Share
19.1019.4815.1217.6418.4319.6718.5517.2615.36
Common Stock
4.63M4.96M5.08M5.84M6.83M9.6M11.26M13.23M15.14M
Additional Paid-in Capital
260.71M281.2M310.85M356.45M448.24M646.59M796.95M959.12M1.07B
Retained Earnings
66.89M63.73M-19.77M-2.1M-10.26M-41.84M-52.53M-88.72M-79.01M
Accumulated OCI
000000000
Treasury Stock
-23.94M-23.94M-23.94M-23.94M-23.94M-23.94M000
Preferred Stock
000000000

CSWC Cash Flow Statement

Capital Southwest Corporation (CSWC) cash flow — operating, investing & free cash flow history

MetricMar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash from Operations
-63.86M-94.71M24.91M-182.68M-182.68M-227.1M-188.5M-217.26M-193.5M
Operating CF Growth %
28.69%-48.3%126.3%-833.49%0%-24.32%17%-15.26%10.93%
Net Income
39.31M33.06M-22.35M42.81M42.81M33.09M83.39M70.55M113M
Depreciation & Amortization
927K1.39M2.4M2.23M5.92M4.32M4.3M5.87M0
Deferred Taxes
000000-119K00
Other Non-Cash Items
-105.09M-129.44M50.42M-225.21M-231.29M-265.63M-272.33M-288.94M-301.38M
Working Capital Changes
993K288K-5.57M-2.52M-3.7M-2.59M-3.86M-4.73M-5.12M
Cash from Investing
00-72.85M-2M-2M-281K-13K-1.67M-286K
Purchase of Investments
00-196.61M0000-620.46M-683.24M
Sale/Maturity of Investments
00123.75M0000294.91M379.36M
Net Investment Activity
00-72.85M0000-325.55M-303.88M
Acquisitions
000000000
Other Investing
0000000323.89M303.88M
Cash from Financing
49.38M96.72M51.77M164.49M164.49M237.53M199.2M231.52M178.36M
Dividends Paid
-18.59M-42.53M-50.34M-58.62M-58.62M-71.1M-102.92M-125.27M-147.23M
Share Repurchases
-588K-185K-9.21M0-1.41M-1.02M000
Stock Issued
018.89M25.98M98.14M00181.45M178.49M157.82M
Net Stock Activity
-588K18.71M16.77M98.14M-1.41M-1.02M181.45M178.49M157.82M
Debt Issuance (Net)
1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Financing
-2.22M28K-418K-20.47M79.08M201.61M-11.25M-4.27M-1.12M
Net Change in Cash
-14.48M▲ 0%
2.02M▲ 113.9%
3.82M▲ 89.4%
-20.18M▼ 628.3%
-20.18M▲ 0.0%
10.15M▲ 150.3%
10.69M▲ 5.3%
12.6M▲ 17.9%
-15.43M▼ 222.4%
Exchange Rate Effect
000000000
Cash at Beginning
22.39M7.91M9.92M31.61M31.61M11.43M21.59M32.27M44.87M
Cash at End
7.91M9.92M13.74M11.43M11.43M21.59M32.27M44.87M29.45M
Interest Paid
000018.4M25.47M000
Income Taxes Paid
000000000
Free Cash Flow
-63.86M▲ 0%
-94.71M▼ 48.3%
24.91M▲ 126.3%
-184.67M▼ 841.5%
-184.67M▲ 0.0%
-227.38M▼ 23.1%
-188.51M▲ 17.1%
-218.92M▼ 16.1%
-193.5M▲ 11.6%
FCF Growth %
28.69%-48.3%126.3%-841.5%0%-23.13%17.1%-16.13%11.61%

CSWC Banking Ratios

Capital Southwest Corporation (CSWC) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2017201820192020202120222023202420252026
Return on Equity (ROE)
8.42%13.25%10.42%-7.47%16.72%11.31%6.54%12.39%8.61%11.93%
Return on Assets (ROA)
7.69%10.58%6.82%-3.93%7.71%5.01%2.97%5.93%4.1%5.57%
Net Interest Margin
3.56%4.07%4.55%5.31%5.21%4.98%6.06%7.56%7.01%7%
Efficiency Ratio
32.55%23.81%24.48%101.98%23.44%35.13%23.68%16.08%17.97%17.46%
Equity / Assets
87.51%73.84%59.07%46.54%45.71%43.21%46.94%48.54%46.93%46.43%
Book Value / Share
17.9519.119.4815.1217.6418.4319.6718.5517.2615.36
NII Growth
135.13%46.64%47.8%23.72%23.39%26.58%56.99%54.39%12.11%15.62%
Dividend Payout
25.53%47.28%128.67%-115.21%94.14%214.86%117.82%177.56%130.3%
Related:CSWC Dividend History·CSWC Revenue History·CSWC Price History·CSWC P/E History·CSWC Financial Ratios·CSWC Institutional Holders

CSWC SEC Filings & Documents

Capital Southwest Corporation (CSWC) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 19, 2026·SEC

Material company update

May 13, 2026·SEC

Material company update

Apr 16, 2026·SEC

10-K Annual Reports

3
FY 2026

May 19, 2026·SEC

FY 2025

May 20, 2025·SEC

FY 2024

May 21, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Feb 2, 2026·SEC

FY 2025

Nov 3, 2025·SEC

FY 2025

Aug 7, 2025·SEC

CSWC Frequently Asked Questions

Capital Southwest Corporation (CSWC) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Capital Southwest Corporation (CSWC) grew revenue by 50.1% over the past year. This is strong growth.

Yes, Capital Southwest Corporation (CSWC) is profitable, generating $113.0M in net income for fiscal year 2026 (45.9% net margin).

Dividend & Returns

Yes, Capital Southwest Corporation (CSWC) pays a dividend with a yield of 9.73%. This makes it attractive for income-focused investors.

Capital Southwest Corporation (CSWC) has a return on equity (ROE) of 11.9%. This is reasonable for most industries.

Industry Metrics

Capital Southwest Corporation (CSWC) has a net interest margin (NIM) of 7.0%. This indicates healthy earnings from lending activities.

Capital Southwest Corporation (CSWC) has an efficiency ratio of 17.5%. This is excellent, indicating strong cost control.

What if you invested $1,000 in CSWC back in 1997?

Total return calculator · dividends reinvested · 29+ years of data

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How much would $100/month in CSWC be worth today?

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