Revenue remains highly erratic, swinging from a peak of $70.8 million in 2025Q2 to a negative $13.0 million in 2025Q4, reflecting the inherent sensitivity of CLO equity to market credit spreads.
Eagle Point Credit Company Inc. (ECCC) annual income statement — 12-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 |
|---|
| Sales/Revenue | 141.34M | - | - | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Cost of Goods Sold | 0 | - | - | - | - | - | - | - | - | - | - | - | - |
| COGS % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | 113.66M | 68.57M | 97.61M | 122.69M | -92.73M | 140.84M | 64.06M | -5.37M | -49.6M | 35.1M | 44.14M | 42.35M | 23M |
| Gross Margin % | 80.42% | 59.07% | 84.18% | 90% | 117.98% | 90.69% | 85.92% | -66.44% | 142.52% | 73.08% | 76.43% | 100% | 100% |
| Gross Profit Growth % | - | -29.76% | -20.44% | 232.31% | -165.84% | 119.85% | 1292.43% | 89.17% | -241.33% | -20.49% | 4.24% | 84.14% | - |
| Operating Expenses | 246.5M | 155.95M | 12.12M | 3.94M | 9.08M | 8.98M | 3.17M | 3.32M | 5.25M | 3.96M | 15.36M | 13.2M | 2.4M |
| OpEx % of Revenue | - | 134.34% | 10.45% | 2.89% | -11.55% | 5.78% | 4.26% | 41.05% | -15.08% | 8.25% | 26.6% | 31.17% | 10.43% |
| Selling, General & Admin | -5.81M | 7.26M | 11.33M | 4.55M | 7.23M | 6.83M | 3.18M | 3.33M | 5.46M | 3.2M | 15.36M | 13.2M | 2.4M |
| SG&A % of Revenue | - | 6.25% | 9.77% | 3.34% | -9.2% | 4.4% | 4.27% | 41.14% | -15.7% | 6.67% | 26.6% | 31.17% | 10.43% |
| Research & Development | 0 | - | - | - | - | - | - | - | - | - | - | - | - |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | - | - | - | - | - | - | - | - | - | - | - | - |
| Operating Income | -132.83M | -87.39M | 85.49M | 118.75M | -101.81M | 131.86M | 60.89M | -8.69M | -54.85M | 31.13M | 40.48M | 29.15M | 20.6M |
| Operating Margin % | -93.98% | -75.28% | 73.73% | 87.11% | 129.53% | 84.9% | 81.66% | -107.49% | 157.6% | 64.82% | 70.08% | 68.83% | 89.57% |
| Operating Income Growth % | - | -202.22% | -28.01% | 216.64% | -177.21% | 116.56% | 800.5% | 84.15% | -276.19% | -23.09% | 38.87% | 41.5% | - |
| EBITDA | -133.96M | -87.39M | 85.49M | 118.75M | -101.81M | 131.86M | 60.89M | -8.69M | -54.85M | 31.13M | 90.96M | 28.59M | 20.6M |
| EBITDA Margin % | -94.78% | -75.28% | 73.73% | 87.11% | 129.53% | 84.9% | 81.66% | -107.49% | 157.6% | 64.82% | 157.5% | 67.51% | 89.57% |
| EBITDA Growth % | -16.33% | -202.22% | -28.01% | 216.64% | -177.21% | 116.56% | 800.5% | 84.15% | -276.19% | -65.78% | 218.21% | 38.78% | - |
| D&A (Non-Cash Add-back) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EBIT | -133.96M | -87.39M | 85.49M | 118.75M | -101.81M | 131.86M | 60.89M | -8.69M | -54.85M | 31.13M | 90.96M | 28.59M | 20.6M |
| Net Interest Income | 112.59M | 176.37M | 153.07M | 118.08M | 96.91M | 67.41M | 48.05M | 48.13M | 50.4M | 47.99M | -7.94M | -2.52M | 0 |
| Interest Income | 132.37M | 203.98M | 171.41M | 131.72M | 111.04M | 81.88M | 58.54M | 61.59M | 65.2M | 60.92M | 7.94M | 2.52M | 0 |
| Interest Expense | 26.69M | 27.61M | 18.34M | 13.63M | 14.13M | 14.47M | 10.5M | 13.46M | 14.8M | 12.93M | 0 | 0 | 0 |
| Other Income/Expense | 0 | - | - | - | - | - | - | - | - | - | - | - | - |
| Pretax Income | -162.86M | -115M | 85.49M | 118.75M | -101.81M | 131.86M | 60.89M | -8.69M | -54.85M | 31.13M | 90.58M | -40.96M | 8.34M |
| Pretax Margin % | -115.23% | -99.07% | 73.73% | 87.11% | 129.53% | 84.9% | 81.66% | -107.49% | 157.6% | 64.82% | 156.83% | -96.72% | 36.29% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 384.79K | 0 | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0.42% | 0% | 0% |
| Net Income | -174.99M | -134.44M | 80.31M | 118.75M | -101.81M | 131.86M | 60.89M | -8.69M | -54.85M | 31.13M | 90.96M | -40.96M | 8.34M |
| Net Margin % | -123.81% | -115.81% | 69.26% | 87.11% | 129.53% | 84.9% | 81.66% | -107.49% | 157.6% | 64.82% | 157.5% | -96.72% | 36.29% |
| Net Income Growth % | -236.93% | -267.4% | -32.37% | 216.64% | -177.21% | 116.56% | 800.5% | 84.15% | -276.19% | -65.78% | 322.09% | -590.84% | - |
| Net Income (Continuing) | -162.86M | -115M | 85.49M | 118.75M | -101.81M | 131.86M | 60.89M | -8.69M | -54.85M | 31.13M | 90.58M | -40.96M | 8.34M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 119M | 0 | 0 |
| EPS (Diluted) | -1.32 | -1.05 | 0.86 | 1.74 | -2.21 | 3.94 | 1.88 | -0.30 | -2.27 | 1.76 | 5.61 | -2.96 | 1.02 |
| EPS Growth % | -218.6% | -222.09% | -50.57% | 178.73% | -156.09% | 109.57% | 726.67% | 86.78% | -228.98% | -68.63% | 289.53% | -389.35% | - |
| EPS (Basic) | - | -1.05 | 0.86 | 1.74 | -2.21 | 3.94 | 1.88 | -0.30 | -2.37 | 1.76 | 5.61 | -2.96 | 1.02 |
| Diluted Shares Outstanding | 132.53M | 128.03M | 93.38M | 67.18M | 46.89M | 33.43M | 32.35M | 28.63M | 24.16M | 17.69M | 16.21M | 13.82M | 8.16M |
| Basic Shares Outstanding | 132.53M | 128.03M | 93.38M | 67.18M | 46.89M | 33.43M | 32.35M | 28.63M | 23.15M | 17.69M | 16.21M | 13.82M | 8.16M |
| Dividend Payout Ratio | - | - | - | - | - | - | 66.16% | - | - | 184.03% | 38.32% | - | - |
Quick answers to the most common questions about buying ECCC stock.
For fiscal year 2025, Eagle Point Credit Company Inc. (ECCC) reported total revenue of $1.0M. This represents a 0.0% increase compared to $1.0M in 2014.
Eagle Point Credit Company Inc. (ECCC) reported a net loss of $134.4M for the fiscal year ending 2025.
Eagle Point Credit Company Inc. (ECCC) reported an operating income of $-87.4M, resulting in an operating profit margin of -75.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Eagle Point Credit Company Inc. (ECCC) generated $68.6M in gross profit for the year, representing a gross profit margin of 59.1%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
CLO equity valuation volatility
Metrics are mathematically derived from official filings.
Revenue Volatility Masks Underlying Trends
As evidenced by the quarterly income statement data, ECCC's revenue trajectory remains highly erratic, swinging from a peak of $70.8 million in 2025Q2 to a negative $13.0 million in 2025Q4, reflecting the inherent sensitivity of CLO equity distributions to market-driven credit spread fluctuations.
The extreme variance in top-line figures suggests that GAAP revenue recognition is heavily influenced by mark-to-market adjustments rather than consistent cash generation. Investors should monitor whether these swings represent temporary valuation noise or a fundamental deterioration in the underlying collateral performance.
Structural Margin Compression Remains Evident
Based on reported financial statements, ECCC's gross margin has experienced significant volatility, ranging from 70.4% in 2026Q1 to a negative 188.4% in 2025Q4, highlighting the precarious nature of equity-tranche CLO returns during periods of heightened credit market stress.
The wide swings in margin performance indicate that the fund's profitability is highly susceptible to the 'waterfall' mechanics of its CLO holdings. This suggests that traditional margin analysis is less effective here than evaluating the underlying interest coverage ratios of the corporate loans held within the portfolio.
Accounting Distortions Obscure True Earnings
According to the provided income statement data, ECCC reported a net loss of $148.4 million in 2026Q1, a figure that appears disconnected from the fund's operational mandate and likely reflects unrealized portfolio impairments rather than a failure of the core investment strategy.
The divergence between net income and operational performance warrants further investigation into the fund's 'Distributable Earnings' metrics. Relying on GAAP net income may lead to an inaccurate assessment of the fund's ability to maintain its dividend distributions over the long term.
Structural Risks to Dividend Sustainability
As reported in recent filings, the persistent erosion of net income and the recurring negative operating margins suggest that ECCC's dividend policy may be increasingly reliant on capital recycling rather than sustainable net investment income, posing a potential risk to long-term shareholder value.
Short-sellers would likely focus on the fund's tendency to issue equity at or near NAV, which may be dilutive to existing holders. The combination of high leverage and sensitivity to loan defaults suggests that the current distribution levels may be unsustainable if credit conditions continue to tighten.