Capital Southwest Corporation 7.75% Notes due 2028 (CSWCZ) Financials
Newest figures come from the DEF 14A for FY2026, filed May 27, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CSWCZ SEC filings page.
This page shows Capital Southwest Corporation 7.75% Notes due 2028 (CSWCZ) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 10 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
The business reports positive earnings but negative operating cash flow, with balance-sheet growth increasingly accompanied by financing.
FY2026 pairs net income of$135M with operating cash flow of-$193.5M , while free cash flow was-$193.8M ; accounting profit therefore did not become cash in the reported year. That mismatch persisted across FY2022-FY2026, making financing activity the visible bridge supporting balance-sheet expansion rather than internally generated cash.
The balance sheet scaled rapidly: total assets rose
Dividends paid rose
Financial Health Signals
We do not publish a peer-relative financial health score for Capital Southwest Corporation 7.75% Notes due 2028, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The signals and metrics below are current.
Capital Southwest Corporation 7.75% Notes due 2028 passes 1 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
For every $1 of reported earnings, Capital Southwest Corporation 7.75% Notes due 2028 used $1.43 of operating cash (-$193.5M OCF vs $135.5M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
Key Financial Metrics
Earnings & Revenue
Capital Southwest Corporation 7.75% Notes due 2028 generated $57.8M in revenue in Q4 2026. This represents an increase of 10.2% from the same quarter a year earlier.
Capital Southwest Corporation 7.75% Notes due 2028 reported $27.5M in net income in Q4 2026. This represents an increase of 56.5% from the same quarter a year earlier. Against the prior quarter it is down 16.5%.
Capital Southwest Corporation 7.75% Notes due 2028 earned $0.44 per diluted share (EPS) in Q4 2026. This represents an increase of 25.7% from the same quarter a year earlier. Against the prior quarter it is down 18.5%.
Not reported for Q4 2026.
Cash & Balance Sheet
Capital Southwest Corporation 7.75% Notes due 2028 recorded an outflow of $59.2M in free cash flow in Q4 2026, representing a cash shortfall after capex. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Capital Southwest Corporation 7.75% Notes due 2028 held $29.0M in cash against $1.1B in long-term debt as of Q4 2026.
Not reported for Q4 2026.
Margins & Returns
Capital Southwest Corporation 7.75% Notes due 2028's net profit margin was 47.6% in Q4 2026, showing the share of revenue converted to profit. This is up 14.1 percentage points from the same quarter a year earlier.
Capital Southwest Corporation 7.75% Notes due 2028's quarterly ROE was 2.7% in Q4 2026: one quarter's net income over shareholder equity, not annualized. This is up 0.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.6 percentage points.
Not reported for Q4 2026.
Not reported for Q4 2026.
Capital Allocation
Capital Southwest Corporation 7.75% Notes due 2028 invested $49K in capex in Q4 2026, funding long-term assets and infrastructure. This represents a decrease of 87.6% from the same quarter a year earlier. Against the prior quarter it is up 226.7%.
Not reported for Q4 2026.
Not reported for Q4 2026.
CSWCZ Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2610-K | Q3'2610-K | Q2'2610-K | Q1'2610-K | Q4'2510-K | Q3'2510-K | Q2'2510-K | Q1'2510-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | $57.8M+10.2% | N/A | N/A | N/A | $52.4M | N/A | N/A | N/A |
| SG&A Expenses | $1.9M+25.0% | $1.7M+3.7% | $1.7M+12.4% | $1.7M+5.3% | $1.5M | $1.6M+26.3% | $1.5M+11.7% | $1.6M+26.0% |
| Interest Expense | N/A | $18.1M+22.7% | $16.0M+27.3% | $15.3M+22.6% | N/A | $14.7M+28.3% | $12.6M+20.1% | $12.4M+28.6% |
| Income Tax | N/A | -$2.4M-741.4% | $2.0Mn/m | $828K-65.9% | $622K | $367K-59.5% | -$1.2Mn/m | $2.4M+443.0% |
| Net Income | $27.5M+56.5% | $32.9M+102.2% | $25.6M+12.9% | $27.0M+92.4% | $17.6M+30.4% | $16.3M-30.7% | $22.7M+0.3% | $14.0M-41.1% |
| EPS (Basic) | $0.46-14.8% | $0.57+67.6% | $0.46-4.2% | $0.50+61.3% | $0.54 | $0.34-51.4% | $0.48-30.4% | $0.31-52.3% |
| EPS (Diluted) | $0.44+25.7% | $0.54+58.8% | $0.44-8.3% | $0.48+54.8% | $0.35 | $0.34-51.4% | $0.48-30.4% | $0.31-52.3% |
| Diluted Shares (Avg) | N/A | 67M+23.5% | 65M+37.2% | 63M+37.5% | N/A | 54M+30.4% | 47M+19.0% | 46M+21.5% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA.
CSWCZ Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2610-K | Q3'2610-K | Q2'2610-K | Q1'2610-K | Q4'2510-K | Q3'2510-K | Q2'2510-K | Q1'2510-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.2B+15.7% | $2.1B+18.3% | $2.0B+26.0% | $1.9B+21.9% | $1.9B+20.9% | $1.8B+25.2% | $1.6B+13.2% | $1.5B+15.5% |
| Cash & Equivalents | $29.0M-32.8% | $42.6M+18.2% | $87.4M+85.1% | $46.9M+40.8% | $43.2M+33.9% | $36.0M+52.6% | $47.2M+105.2% | $33.3M+56.5% |
| Total Liabilities | $1.2B+16.7% | $1.1B+16.9% | $1.1B+32.1% | $965.9M+26.0% | $999.2M+24.7% | $958.6M+35.3% | $813.2M+7.1% | $766.7M+9.4% |
| Long-Term Debt | $1.1B+18.3% | $1.1B+16.5% | $1.0B+31.8% | $926.0M+25.9% | $956.1M+24.0% | $920.2M+35.8% | $785.0M+7.1% | $735.4M+9.4% |
| Total Equity | $1.0B+14.4% | $995.6M+19.9% | $947.0M+19.7% | $916.5M+17.9% | $883.6M+16.9% | $830.4M+15.2% | $791.3M+20.3% | $777.3M+22.2% |
| Retained Earnings | -$79.0Mn/m | -$76.5Mn/m | -$107.5Mn/m | -$97.1Mn/m | -$88.7Mn/m | -$85.6Mn/m | -$75.8Mn/m | -$68.0Mn/m |
Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Accounts Receivable, Long-Term Investments, Goodwill, Current Liabilities, Non-Current Liabilities.
CSWCZ Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2610-K | Q3'2610-K | Q2'2610-K | Q1'2610-K | Q4'2510-K | Q3'2510-K | Q2'2510-K | Q1'2510-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$59.1Mn/m | -$93.6Mn/m | -$71.2Mn/m | $30.5M-2.0% | -$58.7Mn/m | -$165.8M-1020.5% | -$23.8Mn/m | $31.1Mn/m |
| Depreciation & Amortization | N/A | N/A | N/A | $1.7M+31.7% | N/A | N/A | N/A | $1.3M+64.2% |
| Stock-Based Compensation | N/A | $1.3M-16.5% | $1.3M-17.4% | $1.1M-6.6% | N/A | $1.5M+30.0% | $1.5M+24.4% | $1.2M+27.1% |
| Capital Expenditures | $49K-87.6% | $15K-98.0% | $81K-83.7% | $141K+464.0% | $396K+3860.0% | $748K+74700.0% | $497Kn/m | $25K+1150.0% |
| Free Cash Flow | -$59.2Mn/m | -$93.6Mn/m | -$71.3Mn/m | $30.4M-2.4% | -$59.1Mn/m | -$166.6M-1024.7% | -$24.3Mn/m | $31.1Mn/m |
| Investing Cash Flow | -$49Kn/m | -$15Kn/m | -$81Kn/m | -$141Kn/m | -$396Kn/m | -$748Kn/m | -$497Kn/m | -$25Kn/m |
| Financing Cash Flow | $44.4M-34.7% | $48.8M-68.6% | $111.8M+192.3% | -$26.7Mn/m | $68.0M-38.6% | $155.3Mn/m | $38.3M-24.3% | -$30.1M-154.4% |
| Dividends Paid | $38.5M+14.4% | $37.3M+18.3% | $36.0M+18.0% | $35.3M+19.8% | $33.7M+18.7% | $31.5M+17.2% | $30.5M+23.0% | $29.5M+28.8% |
Not reported in any period shown, so not listed: Share Buybacks.
CSWCZ Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2610-K | Q3'2610-K | Q2'2610-K | Q1'2610-K | Q4'2510-K | Q3'2510-K | Q2'2510-K | Q1'2510-K |
|---|---|---|---|---|---|---|---|---|
| Net Margin | 47.6%+14.1pp | N/A | N/A | N/A | 33.5% | N/A | N/A | N/A |
| Return on Equity | 2.7%+0.7pp | 3.3%+1.3pp | 2.7%-0.2pp | 2.9%+1.1pp | 2.0%+0.2pp | 2.0%-1.3pp | 2.9%-0.6pp | 1.8%-1.9pp |
| Return on Assets | 1.3%+0.3pp | 1.6%+0.6pp | 1.3%-0.1pp | 1.4%+0.5pp | 0.9%+0.1pp | 0.9%-0.7pp | 1.4%-0.2pp | 0.9%-0.9pp |
| Debt-to-Equity | 1.120.0x | 1.080.0x | 1.09+0.1x | 1.01+0.1x | 1.08+0.1x | 1.11+0.2x | 0.99-0.1x | 0.95-0.1x |
| Liabilities-to-Equity | 1.150.0x | 1.130.0x | 1.13+0.1x | 1.05+0.1x | 1.13+0.1x | 1.15+0.2x | 1.03-0.1x | 0.99-0.1x |
| Asset Turnover | 0.030.0x | N/A | N/A | N/A | 0.03 | N/A | N/A | N/A |
| FCF Margin | -102.5% | N/A | N/A | N/A | -112.8% | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: FCF Margin.
Where Capital Southwest Corporation 7.75% Notes due 2028 Ranks
Frequently Asked Questions
Yes, Capital Southwest Corporation 7.75% Notes due 2028 (CSWCZ) reported a net income of $135.5M in fiscal year 2026.
As of fiscal year 2026, Capital Southwest Corporation 7.75% Notes due 2028 (CSWCZ) had $29.0M in cash and equivalents against $1.1B in long-term debt.
Yes, Capital Southwest Corporation 7.75% Notes due 2028 (CSWCZ) paid $2.56 per share in dividends during fiscal year 2026.
Capital Southwest Corporation 7.75% Notes due 2028 (CSWCZ) has a return on equity of 13.4% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
Capital Southwest Corporation 7.75% Notes due 2028 (CSWCZ) recorded an outflow of $193.8M in free cash flow during fiscal year 2026. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
Capital Southwest Corporation 7.75% Notes due 2028 (CSWCZ) recorded an outflow of $193.5M in operating cash flow during fiscal year 2026, representing cash used by core business activities.
Capital Southwest Corporation 7.75% Notes due 2028 (CSWCZ) had $2.2B in total assets as of fiscal year 2026, including both current and long-term assets.
Capital Southwest Corporation 7.75% Notes due 2028 (CSWCZ) invested $286K in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.
Capital Southwest Corporation 7.75% Notes due 2028 (CSWCZ) had a debt-to-equity ratio of 1.12 as of fiscal year 2026. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
Capital Southwest Corporation 7.75% Notes due 2028 (CSWCZ) had a liabilities-to-equity ratio of 1.15 as of fiscal year 2026, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
Capital Southwest Corporation 7.75% Notes due 2028 (CSWCZ) had a return on assets of 6.2% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
Capital Southwest Corporation 7.75% Notes due 2028 (CSWCZ) has a Piotroski F-Score of 1 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
For every $1 of reported earnings, Capital Southwest Corporation 7.75% Notes due 2028 (CSWCZ) used $1.43 of operating cash (-$193.5M OCF vs $135.5M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.