Capital Southwest Corporation (CSWC) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 |
|---|
| Cash from Operations | -59.14M | 33.88M | -71.22M | 30.49M | -62.87M | -165.82M | -23.83M | 31.13M | -102.09M | 18.01M | -23.83M | -55.63M | -33.45M | -98.09M | 26.15M | -69.8M | 7.88M | 24.09M | 12.29M | -100.29M |
| Operating CF Margin % | -109.52% | 54.69% | -135.93% | 56.78% | -136.64% | -401.22% | -59.26% | 85.85% | -247.02% | 44.8% | -65.73% | -139.21% | -100.35% | -494.85% | 112.6% | -500.74% | 26.32% | 101.52% | 50.92% | -399.37% |
| Operating CF Growth % | 5.94% | 120.43% | -198.87% | -2.03% | 38.41% | -1020.53% | 0% | 155.95% | -205.19% | 118.36% | -191.12% | 20.31% | -524.3% | -507.1% | 112.89% | 30.4% | -29.04% | 2100.46% | 41.32% | -337.98% |
| Net Income | 27.48M | 32.54M | 25.62M | 27M | 17.56M | 16.27M | 22.68M | 14.04M | 13.47M | 23.48M | 22.68M | 23.81M | 18.18M | 2.95M | 9.46M | 2.51M | 19.67M | 12.56M | -4.56M | 15.14M |
| Depreciation & Amortization | 0 | 1.77M | 1.75M | 1.68M | 1.67M | 1.59M | 1.32M | 2.33M | 1.61M | 2.4M | 1.32M | 1M | 874K | 674K | 677K | 651K | 602K | 541K | 585K | 502K |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 2.66M | 1.54M | 1.54M | 1.22M | 1.13M | 1.19M | 0 | 963K | 832K | 992K | 0 | 821K | 0 | 0 | 0 | 1.08M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 1.15M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.63M | 0 | 1.2M | 0 | 0 | 0 | 631K |
| Other Non-Cash Items | -85.08M | -2.08M | -94.62M | 590K | -87.81M | -189.19M | -41.31M | 16.19M | -118.66M | -11.81M | -39.78M | -78.11M | -56.14M | -92.68M | 4.8M | -70.12M | -6.35M | 875K | 15.53M | -110.33M |
| Working Capital Changes | -1.54M | 1.64M | -3.98M | 1.22M | 1.9M | 3.96M | -8.06M | -2.65M | 364K | 2.75M | -8.06M | -3.29M | 2.81M | -12.65M | 11.22M | -4.87M | -6.04M | 10.12M | 722K | -7.32M |
| Change in Receivables | -1.23M | -5.99M | -1.58M | 174K | -1.74M | -1.19M | 1.61M | -1.61M | 681K | 573K | -6.48M | -1.65M | -2.08M | -4.47M | 1.41M | -1.95M | -5.23M | 5.04M | 1.63M | -5.21M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | -49K | -127.53M | -81K | -141K | 3.75M | -748K | -497K | -25K | -10K | -1K | -497K | -2K | -122K | -3K | -51.91M | -156K | -53.45M | -59.41M | -15.78M | -101.53M |
| Capital Expenditures | -363K | -15K | -81K | -141K | -396K | 522K | -497K | -25K | -10K | -1K | -497K | -2K | -122K | -3K | 0 | -156K | -2M | 0 | 0 | 0 |
| CapEx % of Revenue | 0.67% | 0.02% | 0.15% | 0.26% | 0.86% | 1.26% | 1.24% | 0.07% | 0.02% | 0% | 1.37% | 0.01% | 0.37% | 0.02% | - | 1.12% | 6.66% | - | - | - |
| Acquisitions | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Investments | 2.1B | 0 | 1.88B | 1.78B | 0 | 0 | 0 | 0 | 1.48B | 1.37B | 1.35B | 1.29B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing | 314K | 0 | 0 | 0 | 89.72M | 197.72M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 103.89M | 0 | 78.29M | 0 | 0 | 0 | 0 |
| Cash from Financing | 44.42M | 48.78M | 111.84M | -26.68M | 67.98M | 155.35M | 38.27M | -30.07M | 110.77M | -17.43M | 38.27M | 55.32M | 33.47M | 89.54M | 37.22M | 77.3M | 38.33M | 27.14M | 13.79M | 85.22M |
| Debt Issued (Net) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Equity Issued (Net) | 25.16M | 51.77M | 39.7M | 41.2M | 67.54M | 52.91M | 20.24M | -1.86M | 1K | -138K | 20.24M | -926K | 1K | 101.61M | 26.51M | -641K | 24.8M | 15.76M | 29.89M | -541K |
| Dividends Paid | -38.55M | -37.3M | -36.04M | -35.34M | -33.71M | -31.53M | -30.52M | -29.51M | -28.38M | -26.86M | -30.52M | -22.92M | -20.93M | -19.27M | -14.29M | -16.61M | -11.78M | -22.92M | -12.4M | -11.53M |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1.86M | 1K | -138K | 0 | -926K | 1K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 1K | -1K | -1.02M | -1.54M | -853K | -599K | -458K | 37.3M | 46.71M | 64.57M | -458K | 44.57M | 28.79M | -1.21M | 0 | 45.53M | -140.2M | -862K | -235.2M | 27.29M |
| Net Change in Cash | -14.76M | -44.87M | 40.54M | 3.67M | 8.86M | -11.22M | 13.94M | 1.03M | 8.67M | 585K | 13.94M | -307K | -101K | -8.55M | 11.47M | 7.34M | -7.24M | -8.17M | 10.3M | -15.07M |
| Free Cash Flow | -59.5M | 33.86M | -71.31M | 30.35M | -61.6M | -166.57M | -24.33M | 31.1M | -102.1M | 18.01M | -24.33M | -55.63M | -33.57M | -98.09M | 26.15M | -69.96M | 5.89M | 24.09M | 12.29M | -100.29M |
| FCF Margin % | -110.19% | 54.67% | -136.08% | 56.52% | -133.88% | -403.03% | -60.5% | 85.78% | -247.04% | 44.8% | -67.1% | -139.22% | -100.71% | -494.87% | 112.6% | -501.86% | 19.66% | 101.52% | 50.92% | -399.37% |
| FCF Growth % | 3.41% | 120.33% | -193.1% | -2.41% | 39.66% | -1024.73% | 0% | 155.91% | -204.11% | 118.36% | -193.02% | 20.48% | -670.11% | -507.11% | 112.89% | 30.25% | -46.99% | 2100.46% | 41.32% | -337.98% |
| FCF per Share | -0.95 | 0.51 | -1.10 | 0.48 | -1.20 | -3.08 | -0.51 | 0.68 | -2.32 | 0.43 | -0.61 | -1.48 | -0.93 | -3.13 | 0.93 | -2.74 | 0.24 | 1.03 | 0.55 | -4.73 |
| FCF Conversion (FCF/Net Income) | -2.15x | 1.03x | -2.78x | 1.13x | -3.58x | -10.19x | -1.05x | 2.22x | -6.28x | 0.79x | -1.70x | -2.34x | -1.84x | -33.26x | 2.77x | -27.81x | 0.40x | 1.92x | -2.70x | -6.62x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 9.27M | 11.77M | 9.57M | 0 | 5.97M | 9.53M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |