The company's capital structure shows a deteriorating quality of equity, with retained earnings falling to a deficit of $515.5M despite total assets expanding to $1.4B by 2025Q4.
| Cash & Short Term Investments | 47.41M | 42.22M | 46.45M | 56.83M | 13.92M | 4.76M | 32.87M | 1.52M | 14.05M | 26.25M | 21.94M | 63.73M |
| Cash & Due from Banks | 47.41M | 42.22M | 46.45M | 56.83M | 13.92M | 4.76M | 32.87M | 1.52M | 14.05M | 26.25M | 21.94M | 63.73M |
| Short Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Investments | 1.3B | 4.19M | 8.23K | 0 | 0 | 0 | 0 | 0 | 0 | 410.74M | 234.28M | 216.99M |
| Investments Growth % | 30912.1% | 50762.12% | - | - | - | - | - | - | -100% | 75.32% | 7.97% | - |
| Long-Term Investments | 1.3B | 4.19M | 8.23K | 0 | 0 | 0 | 0 | 0 | 0 | 410.74M | 234.28M | 216.99M |
| Accounts Receivables | 0 | 54.81M | 35.94M | 35.92M | 23.06M | 23.89M | 12.73M | 18.3M | 18.17M | 456.53K | 12.19M | 19.04M |
| Goodwill & Intangibles | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PP&E (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 193.33K | 1.4B | 871.45M | 667.16M | 730.72M | 483.51M | 428.74M | 456.38M | 479.91M | -448.38M | 0 | 0 |
| Total Current Assets | 96.7M | 97.37M | 83.03M | 92.99M | 37.32M | 29.08M | 46.02M | 20.34M | 33.06M | 37.64M | 34.68M | 82.85M |
| Total Non-Current Assets | 1.3B | 1.41B | 871.46M | 667.16M | 730.72M | 483.51M | 428.74M | 456.38M | 479.91M | 410.74M | 234.28M | 216.99M |
| Total Assets | 1.39B | 1.51B | 954.49M | 760.15M | 768.04M | 512.59M | 474.76M | 476.71M | 512.97M | 448.38M | 268.96M | 299.84M |
| Asset Growth % | -7.34% | 57.72% | 25.57% | -1.03% | 49.84% | 7.97% | -0.41% | -7.07% | 14.41% | 66.71% | -10.3% | - |
| Return on Assets (ROA) | -9.27% | 6.53% | 13.85% | -13.32% | 20.59% | 12.33% | -1.83% | -11.08% | 6.48% | 25.36% | -14.4% | 2.78% |
| Accounts Payable | 5.5M | 43.93M | 836.41K | 27.43M | 18.61M | 6.38M | 0 | 0 | 16.15M | 124.31K | 0 | 27.49M |
| Total Debt | 388.75M | 271.96M | 157.71M | 150.77M | 140.69M | 92.8M | 99.75M | 95.01M | 88.61M | 145.26M | 67.28M | 0 |
| Net Debt | 341.34M | 229.74M | 111.27M | 93.94M | 126.78M | 88.04M | 66.88M | 93.5M | 74.56M | 119M | 45.34M | -63.73M |
| Long-Term Debt | 388.75M | 271.96M | 157.71M | 150.77M | 140.69M | 92.8M | 99.75M | 95.01M | 88.61M | 145.26M | 67.28M | 0 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 20.68M | 252.69M | 60.17M | 82.69M | 82.54M | 51.75M | 71.74M | 94.57M | 92.95M | 0 | 0 | 0 |
| Total Current Liabilities | 19.97M | 43.93M | 836.41K | 27.43M | 18.61M | 6.38M | 0 | 0 | 16.15M | 15.07M | 12.07M | 36.28M |
| Total Non-Current Liabilities | 411M | 524.65M | 217.88M | 233.46M | 223.24M | 144.55M | 171.49M | 189.59M | 181.56M | 145.26M | 67.28M | 0 |
| Total Liabilities | 411M | 568.58M | 218.72M | 260.89M | 241.85M | 150.93M | 171.49M | 189.59M | 197.71M | 160.33M | 79.35M | 36.28M |
| Total Equity | 983.89M | 936.87M | 735.78M | 499.27M | 526.19M | 361.66M | 303.27M | 287.13M | 315.26M | 567.38M | 189.61M | 263.56M |
| Equity Growth % | 5.02% | 27.33% | 47.37% | -5.12% | 45.49% | 19.25% | 5.62% | -8.92% | -44.44% | 199.24% | -28.06% | - |
| Equity / Assets (Capital Ratio) | 70.54% | 62.23% | 77.09% | 65.68% | 68.51% | 70.56% | 63.88% | 60.23% | 61.46% | 126.54% | 70.5% | 87.9% |
| Return on Equity (ROE) | -14% | 9.6% | 19.23% | -19.86% | 29.7% | 18.31% | -2.94% | -18.21% | 7.05% | 24.03% | -18.08% | 3.17% |
| Book Value per Share | 7.68 | 10.03 | 10.95 | 10.65 | 15.74 | 11.18 | 10.59 | 11.88 | 17.82 | 35.01 | 13.72 | 32.32 |
| Tangible BV per Share | 7.68 | 10.03 | 10.95 | 10.65 | 15.74 | 11.18 | 10.59 | 11.88 | 17.82 | 35.01 | 13.72 | 32.32 |
| Common Stock | 1.27B | 1.26B | 931.13M | 719.7M | 517.54M | 452.14M | 452.76M | 435.71M | 358.11M | 0 | 270.31M | 270.15M |
| Additional Paid-in Capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | -515.47M | -312.69M | -221.44M | -224.95M | -13.01M | -90.99M | -148.42M | -150.05M | -29.74M | 288.05M | -80.7M | -6.59M |
| Accumulated OCI | -7.4M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 288.05M | 0 | 531.01K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Preferred Stock | 232.96M | 0 | 27.43M | 26.14M | 23.89M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Portfolio mark-to-market volatility
According to historical balance sheet data, total assets grew from $954.5M in 2023Q4 to $1.4B by 2025Q4, yet this expansion appears decoupled from equity growth, as retained earnings have consistently declined to a deficit of $515.5M, signaling a reliance on external capital to sustain the portfolio size.
The trajectory of the balance sheet suggests an aggressive growth strategy that has not translated into organic value creation for shareholders. Investors should monitor whether this asset accumulation is sustainable given the persistent erosion of retained earnings, which may indicate that the company is effectively recycling capital rather than generating net growth.
As reported in recent financial statements, total debt increased to $388.7M in 2025Q4, and while the reported debt-to-equity ratio of 0.40 appears manageable, it warrants further investigation as it may mask the true economic leverage inherent in the underlying CLO equity tranches held by the company.
The reliance on debt to fund CLO equity positions creates a structural sensitivity to credit spread widening. If the cost of this debt rises or if the underlying collateral performance deteriorates, the company may face significant pressure on its ability to service these obligations without further dilutive equity issuance.
Based on the most recent quarterly figures, the current ratio stands at 4.84, yet the cash position of $47.4M remains modest relative to the scale of the investment portfolio, suggesting that liquidity may be tighter than the headline ratio implies during periods of market stress.
The fluctuation in liquidity metrics over the past ten quarters suggests that the company's cash position is highly sensitive to the timing of distributions from its CLO holdings. This volatility may limit the company's flexibility to capitalize on opportunistic investment windows or respond to sudden liquidity demands within the portfolio.
As indicated by the company's reported figures, retained earnings have deteriorated significantly to a negative $515.5M as of 2025Q4, which raises concerns regarding the long-term quality of equity and the sustainability of distributions funded through non-operating sources rather than organic earnings.
The persistent decline in retained earnings suggests that the company is consistently distributing more than it earns on a GAAP basis. This trend warrants close scrutiny, as it may indicate that the equity base is being eroded over time, potentially limiting the company's capacity to absorb future portfolio losses.
Based on an analysis of the balance sheet, the absence of goodwill and PPE highlights that the company's value is almost entirely tied to the fair value of its CLO investments, which are subject to significant mark-to-market volatility that is not fully captured by the reported equity.
The reliance on fair value accounting for the majority of assets means that the balance sheet is highly susceptible to sudden, non-cash write-downs. Investors should be aware that the reported net asset value may not reflect the actual liquidation value of the portfolio in a distressed credit environment.
Quick answers to the most common questions about buying ECCX stock.
As of 2025, Eagle Point Credit Company Inc. 6.6875% NT 28 (ECCX) had total assets of $1.39B including $96.7M in current assets.
Eagle Point Credit Company Inc. 6.6875% NT 28 (ECCX) carries total debt of $388.7M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Eagle Point Credit Company Inc. 6.6875% NT 28 (ECCX) has total shareholders' equity (book value) of $983.9M ($7.68 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Eagle Point Credit Company Inc. 6.6875% NT 28 (ECCX) reported a current ratio of 4.84x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.