What is Capital Southwest Corporation's earnings per share (EPS)?

Capital Southwest Corporation (CSWCZ) reported diluted earnings per share of $1.90 for fiscal year 2026. This represents a 29.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Capital Southwest Corporation Financials

CSWCZ

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE March

This page shows Capital Southwest Corporation (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).

Rhea AI CSWCZ FY2026 2026-04-22

CSWCZ's core mechanic is externally financed balance-sheet expansion, where reported earnings support growth optics but not the cash needs.

From FY2022 through FY2025, the company produced cumulative net income of $229.8M but cumulative operating cash outflow of -$815.5M. That gap was effectively backfilled by $832.7M of financing inflows, which explains how the balance sheet and cash distributions kept expanding without internally generated cash and why reported profit understates dependence on outside funding.

The debt-to-equity ratio stayed near 1.1x, but long-term debt still climbed to $1.07B by FY2026. The ratio looks calmer than the funding burden actually is, because equity expanded alongside debt while annual interest expense was already $55.0M in FY2025.

Dividends paid rose to $125.3M in FY2025 even as reported operating cash flow remained negative at -$217.3M, so the payout was not being covered by cash coming through operations. Shares outstanding also increased from 25.0M to 60.2M, showing that each year's earnings and distributions were being spread across a much larger capital base.

Financial Health Signals

Financial Profile 20/100

Based on FY2026 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Capital Southwest Corporation's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Leverage

Capital Southwest Corporation carries a low D/E ratio of 1.12, meaning only $1.12 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 79/100, indicating a strong balance sheet with room for future borrowing.

Returns

Capital Southwest Corporation's ROE of 13.4% shows moderate profitability relative to equity, earning a score of 41/100. This is up from 13.4% the prior year.

Piotroski F-Score Weak

1/9

Capital Southwest Corporation passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Low Quality

-1.43x

For every $1 of reported earnings, Capital Southwest Corporation generates $-1.43 in operating cash flow (-$193.5M OCF vs $135.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

N/A

EBITDA

N/A

Net Income

$135.5M

YoY+14.6%

5Y CAGR+21.6%

Capital Southwest Corporation reported $135.5M in net income in fiscal year 2026. This represents an increase of 14.6% from the prior year.

EPS (Diluted)

$1.90

YoY+29.3%

5Y CAGR+2.7%

Capital Southwest Corporation earned $1.90 per diluted share (EPS) in fiscal year 2026. This represents an increase of 29.3% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$193.8M

YoY+11.5%

Capital Southwest Corporation generated -$193.8M in free cash flow in fiscal year 2026, representing cash available after capex. This represents an increase of 11.5% from the prior year.

Cash & Debt

$29.0M

YoY-32.8%

5Y CAGR-1.7%

Capital Southwest Corporation held $29.0M in cash against $1.1B in long-term debt as of fiscal year 2026.

Dividends Per Share

$2.56

YoY+1.2%

5Y CAGR+4.6%

Capital Southwest Corporation paid $2.56 per share in dividends in fiscal year 2026. This represents an increase of 1.2% from the prior year.

Shares Outstanding

62M

YoY+17.4%

5Y CAGR+24.2%

Capital Southwest Corporation had 62M shares outstanding in fiscal year 2026. This represents an increase of 17.4% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

13.4%

YoY+0.0pp

5Y CAGR-1.7pp

Capital Southwest Corporation's ROE was 13.4% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is up 0.0 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$286K

YoY-82.8%

Capital Southwest Corporation invested $286K in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents a decrease of 82.8% from the prior year.

CSWCZ Income Statement

Metric	FY26	FY25	FY24	FY23	FY22	FY21
Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$7.0M+11.4%	$6.2M+19.0%	$5.2M+13.2%	$4.6M+13.6%	$4.1M+30.9%	$3.1M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$66.6M+21.2%	$55.0M+27.6%	$43.1M+49.2%	$28.9M+44.9%	$19.9M+11.1%	$17.9M
Income Tax	$1.1M-50.5%	$2.3M+139.9%	$944K+186.9%	$329K-46.5%	$615K-74.8%	$2.4M
Net Income	$135.5M+14.6%	$118.2M+7.4%	$110.0M+60.1%	$68.7M+61.0%	$42.7M-16.1%	$50.9M
EPS (Diluted)	$1.90+29.3%	$1.47-28.3%	$2.05-10.5%	$2.29+22.5%	$1.87+12.7%	$1.66

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	$1.7M+2.2%	$1.7M+0.5%	$1.7M	N/A	$1.6M+10.9%	$1.5M-5.8%	$1.6M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	$18.1M+12.7%	$16.0M+5.0%	$15.3M	N/A	$14.7M+16.9%	$12.6M+1.1%	$12.4M
Income Tax	N/A	-$2.4M-215.8%	$2.0M+145.5%	$828K	N/A	$367K+131.9%	-$1.2M-147.4%	$2.4M
Net Income	$27.5M-16.5%	$32.9M+28.4%	$25.6M-5.1%	$27.0M+53.8%	$17.6M+7.9%	$16.3M-28.3%	$22.7M+61.6%	$14.0M
EPS (Diluted)	$0.44-18.5%	$0.54+22.7%	$0.44-8.3%	$0.48+37.1%	$0.35+2.9%	$0.34-29.2%	$0.48+54.8%	$0.31

CSWCZ Balance Sheet

Metric	FY26	FY25	FY24	FY23	FY22	FY21
Total Assets	$2.2B+15.7%	$1.9B+20.9%	$1.6B+23.8%	$1.3B+29.1%	$974.0M	N/A
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$29.0M-32.8%	$43.2M+33.9%	$32.3M+49.5%	$21.6M+88.8%	$11.4M-63.8%	$31.6M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.2B+16.7%	$999.2M+24.7%	$801.1M+20.1%	$667.3M+20.6%	$553.1M	N/A
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$1.1B+18.3%	$956.1M+24.0%	$770.9M+20.9%	$637.6M+20.6%	$528.6M	N/A
Total Equity	$1.0B+14.4%	$883.6M+16.9%	$755.7M+28.0%	$590.4M+40.3%	$420.9M+25.2%	$336.3M
Retained Earnings	-$79.0M+10.9%	-$88.7M-68.9%	-$52.5M-25.5%	-$41.8M-308.0%	-$10.3M	N/A

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Total Assets	$2.2B+2.9%	$2.1B+4.7%	$2.0B+7.4%	$1.9B0.0%	$1.9B+5.2%	$1.8B+11.5%	$1.6B+3.9%	$1.5B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$29.0M-31.8%	$42.6M-51.3%	$87.4M+86.5%	$46.9M+8.5%	$43.2M+20.0%	$36.0M-23.8%	$47.2M+41.9%	$33.3M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.2B+4.1%	$1.1B+4.3%	$1.1B+11.2%	$965.9M-3.3%	$999.2M+4.2%	$958.6M+17.9%	$813.2M+6.1%	$766.7M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$1.1B+5.5%	$1.1B+3.6%	$1.0B+11.8%	$926.0M-3.1%	$956.1M+3.9%	$920.2M+17.2%	$785.0M+6.7%	$735.4M
Total Equity	$1.0B+1.5%	$995.6M+5.1%	$947.0M+3.3%	$916.5M+3.7%	$883.6M+6.4%	$830.4M+5.0%	$791.3M+1.8%	$777.3M
Retained Earnings	-$79.0M-3.3%	-$76.5M+28.9%	-$107.5M-10.7%	-$97.1M-9.4%	-$88.7M-3.7%	-$85.6M-12.8%	-$75.8M-11.5%	-$68.0M

CSWCZ Cash Flow Statement

Metric	FY26	FY25	FY24	FY23	FY22	FY21
Operating Cash Flow	-$193.5M+10.9%	-$217.3M-15.3%	-$188.5M+17.0%	-$227.1M-24.3%	-$182.7M-167.6%	-$68.3M
Capital Expenditures	$286K-82.8%	$1.7M+12715.4%	$13K-95.4%	$281K-85.9%	$2.0M	$0
Free Cash Flow	-$193.8M+11.5%	-$218.9M-16.1%	-$188.5M+17.1%	-$227.4M-23.1%	-$184.7M-170.6%	-$68.3M
Investing Cash Flow	-$286K+82.8%	-$1.7M-12715.4%	-$13K+95.4%	-$281K+85.9%	-$2.0M	$0
Financing Cash Flow	$178.4M-23.0%	$231.5M+16.2%	$199.2M-16.1%	$237.5M+44.4%	$164.5M+91.0%	$86.1M
Dividends Paid	$147.2M+17.5%	$125.3M+21.7%	$102.9M+44.8%	$71.1M+21.3%	$58.6M+46.8%	$39.9M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Operating Cash Flow	-$59.1M+36.8%	-$93.6M-31.5%	-$71.2M-333.6%	$30.5M+151.9%	-$58.7M+64.6%	-$165.8M-595.8%	-$23.8M-176.6%	$31.1M
Capital Expenditures	$49K+226.7%	$15K-81.5%	$81K-42.6%	$141K-64.4%	$396K-47.1%	$748K+50.5%	$497K+1888.0%	$25K
Free Cash Flow	-$59.2M+36.8%	-$93.6M-31.3%	-$71.3M-334.9%	$30.4M+151.3%	-$59.1M+64.5%	-$166.6M-584.7%	-$24.3M-178.2%	$31.1M
Investing Cash Flow	-$49K-226.7%	-$15K+81.5%	-$81K+42.6%	-$141K+64.4%	-$396K+47.1%	-$748K-50.5%	-$497K-1888.0%	-$25K
Financing Cash Flow	$44.4M-8.9%	$48.8M-56.4%	$111.8M+519.1%	-$26.7M-139.3%	$68.0M-56.2%	$155.3M+306.0%	$38.3M+227.2%	-$30.1M
Dividends Paid	$38.5M+3.3%	$37.3M+3.6%	$36.0M+1.9%	$35.3M+4.9%	$33.7M+6.9%	$31.5M+3.4%	$30.5M+3.4%	$29.5M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

CSWCZ Financial Ratios

Metric	FY26	FY25	FY24	FY23	FY22	FY21
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	13.4%+0.0pp	13.4%-1.2pp	14.6%+2.9pp	11.6%+1.5pp	10.1%-5.0pp	15.1%
Return on Assets	6.2%-0.1pp	6.3%-0.8pp	7.1%+1.6pp	5.5%+1.1pp	4.4%	N/A
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.12+0.0	1.08+0.1	1.02-0.1	1.08-0.2	1.26	N/A
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	2.7%-0.6pp	3.3%+0.6pp	2.7%-0.2pp	2.9%+1.0pp	2.0%+0.0pp	2.0%-0.9pp	2.9%+1.1pp	1.8%
Return on Assets	1.3%-0.3pp	1.6%+0.3pp	1.3%-0.2pp	1.4%+0.5pp	0.9%+0.0pp	0.9%-0.5pp	1.4%+0.5pp	0.9%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.12+0.0	1.08-0.0	1.09+0.1	1.01-0.1	1.08-0.0	1.11+0.1	0.99+0.0	0.95
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Frequently Asked Questions

Is Capital Southwest Corporation profitable?

Yes, Capital Southwest Corporation (CSWCZ) reported a net income of $135.5M in fiscal year 2026.

How much debt does Capital Southwest Corporation have?

As of fiscal year 2026, Capital Southwest Corporation (CSWCZ) had $29.0M in cash and equivalents against $1.1B in long-term debt.

Does Capital Southwest Corporation pay dividends?

Yes, Capital Southwest Corporation (CSWCZ) paid $2.56 per share in dividends during fiscal year 2026.

What is Capital Southwest Corporation's return on equity (ROE)?

Capital Southwest Corporation (CSWCZ) has a return on equity of 13.4% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

What is Capital Southwest Corporation's free cash flow?

Capital Southwest Corporation (CSWCZ) generated -$193.8M in free cash flow during fiscal year 2026. This represents a 11.5% change compared to the previous fiscal year. 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.

What is Capital Southwest Corporation's operating cash flow?

Capital Southwest Corporation (CSWCZ) generated -$193.5M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.

What are Capital Southwest Corporation's total assets?

Capital Southwest Corporation (CSWCZ) had $2.2B in total assets as of fiscal year 2026, including both current and long-term assets.

What are Capital Southwest Corporation's capital expenditures?

Capital Southwest Corporation (CSWCZ) invested $286K in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.

How many shares does Capital Southwest Corporation have outstanding?

Capital Southwest Corporation (CSWCZ) had 62M shares outstanding as of fiscal year 2026.

What is Capital Southwest Corporation's debt-to-equity ratio?

Capital Southwest Corporation (CSWCZ) had a debt-to-equity ratio of 1.12 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Capital Southwest Corporation's return on assets (ROA)?

Capital Southwest Corporation (CSWCZ) had a return on assets of 6.2% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

What is Capital Southwest Corporation's cash runway?

Based on fiscal year 2026 data, Capital Southwest Corporation (CSWCZ) had $29.0M in cash against an annual operating cash burn of $193.5M. This gives an estimated cash runway of approximately 2 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Capital Southwest Corporation's Piotroski F-Score?

Capital Southwest Corporation (CSWCZ) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. 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.

Are Capital Southwest Corporation's earnings high quality?

Capital Southwest Corporation (CSWCZ) has an earnings quality ratio of -1.43x, considered low quality (accrual-driven). 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.

How financially healthy is Capital Southwest Corporation?

Capital Southwest Corporation (CSWCZ) scores 20 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.