Revenue volatility remains extreme, with quarterly figures swinging from a negative $86.4M in 2024Q2 to a peak of $70.8M in 2025Q2, driving net margins to fluctuate between -169.1% and 87.0%.
| 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 |
| NII Growth % | -145.65% | 15.22% | 29.63% | 21.85% | 43.75% | 40.31% | -0.18% | -4.5% | 5.01% | 704.76% | -215.28% | - | - |
| Net Interest Margin % | 9.95% | 12.64% | 10.17% | 12.37% | 12.75% | 8.78% | 9.37% | 10.14% | 10.57% | 9.36% | -1.77% | -0.94% | 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 |
| Loan Loss Provision | 985.55K | 19.91M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 13.61M | 0 | 0 |
| Non-Interest Income | 8.97M | -87.9M | -55.46M | 4.6M | -189.64M | 73.43M | 16.01M | -53.5M | -100M | -12.9M | 49.82M | 39.83M | 23M |
| Non-Interest Income % | 6.35% | -75.72% | -47.83% | 3.38% | 241.27% | 47.28% | 21.48% | -661.71% | 287.33% | -26.86% | 86.26% | 94.06% | 100% |
| Total Revenue | 141.34M | 116.08M | 115.95M | 136.32M | -78.6M | 155.31M | 74.56M | 8.09M | -34.8M | 48.02M | 57.76M | 42.35M | 23M |
| Revenue Growth % | 20.75% | 0.12% | -14.94% | 273.43% | -150.61% | 108.3% | 822.09% | 123.23% | -172.47% | -16.85% | 36.39% | 84.14% | - |
| Non-Interest Expense | 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 |
| Efficiency Ratio | 174.4% | 134.34% | 10.45% | 2.89% | -11.55% | 5.78% | 4.26% | 41.05% | -15.08% | 8.25% | 26.6% | 31.17% | 10.43% |
| 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% | - |
| 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 |
| 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 |
Portfolio Valuation Volatility
As reported in recent financial statements, ECCU's revenue trajectory exhibits significant quarterly variance, with figures swinging from a negative $86.4M in 2024Q2 to a peak of $70.8M in 2025Q2, highlighting the inherent instability of residual CLO equity claims in fluctuating credit markets.
The extreme fluctuations in top-line revenue suggest that GAAP-based reporting is heavily influenced by mark-to-market adjustments rather than consistent cash generation. Investors should monitor whether these swings represent genuine shifts in underlying loan pool performance or merely temporary accounting noise driven by credit spread volatility.
Based on reported figures, ECCU's net margin has experienced extreme volatility, plummeting to -169.1% in 2025Q1 before recovering to 87.0% in 2025Q2, which underscores the sensitivity of the fund's profitability to unrealized valuation changes within its junior CLO equity tranches.
The wide variance in net margins indicates that the company's profitability is structurally tethered to the fair value of its investment portfolio rather than operational efficiency. This suggests that traditional margin analysis is insufficient, as the GAAP figures appear to obscure the recurring cash flow yield that is central to the fund's dividend policy.
According to recent SEC filings, the company reported a net loss of $148.4M in 2026Q1, a figure that appears largely disconnected from the underlying cash distributions of the CLO portfolio, highlighting the significant impact of non-cash mark-to-market adjustments on reported earnings quality.
The reliance on GAAP net income as a performance metric appears misleading given the frequent, large-scale swings caused by portfolio valuation adjustments. Analysts should prioritize Net Investment Income (NII) to distinguish between actual cash-generating capacity and the accounting volatility inherent in the fund's junior capital structure.
As indicated by the company's financial history, the reliance on aggressive capital raises and structural leverage creates a precarious profile, where a $136.2M operating loss in 2026Q1 suggests that the fund's equity tranches are highly vulnerable to even minor shifts in underlying corporate credit defaults.
Short-term observers may argue that the fund's dividend sustainability is threatened by the recurring need for external capital to offset valuation-driven losses. The potential for a 'maturity wall' in the underlying loan pools warrants further investigation, as it could force a permanent impairment of the residual equity tranches that the fund relies upon for its primary income.
Quick answers to the most common questions about buying ECCU stock.
Eagle Point Credit Company Inc. (ECCU) reported a net loss of $134.4M for the fiscal year ending 2025.
Eagle Point Credit Company Inc. (ECCU) 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. (ECCU) 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.