Great Elm Capital. Corp. (GECC) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 23, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the GECC SEC filings page.
This page shows Great Elm Capital. Corp. (GECC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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).
Reported results swing sharply, while liabilities grow faster than equity, making this investment vehicle's earnings unreliable as a guide to cash movement.
Cash conversion changes dramatically across periods: FY2023's profit and operating cash flow were close, but FY2024 paired positive net income with negative operating cash flow and FY2025 paired a net loss with a much smaller cash outflow. That divergence means a single year's accounting result does not explain the vehicle's cash activity by itself.
The reported asset base expanded to
From FY2023 to FY2025, liabilities grew
Financial Health Signals
Great Elm Capital. Corp. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Great Elm Capital. Corp. 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).
Great Elm Capital. Corp. reported a net loss of $31.8M while operations used $2.8M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Great Elm Capital. Corp. reported $6.4M in net income in Q2 2026. This represents a decrease of 45.3% from the same quarter a year earlier. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Great Elm Capital. Corp. earned $0.46 per diluted share (EPS) in Q2 2026. This represents a decrease of 54.9% from the same quarter a year earlier. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Not reported for Q2 2026.
Not reported for Q2 2026.
Cash & Balance Sheet
Great Elm Capital. Corp. held $1.7M in cash against $150.9M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Great Elm Capital. Corp.'s quarterly ROE was 5.8% in Q2 2026: one quarter's net income over shareholder equity, not annualized. This is down 2.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 6.5 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
None of these metrics is reported for Q2 2026.
GECC 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A | $12.5M+40.3% | $9.1M-0.3% | $11.7M+26.4% |
| Interest Expense | $3.9M-10.4% | $4.3M+0.1% | N/A | $5.5M+30.3% | $4.3M+24.3% | $4.3M+51.4% | $4.4M+56.4% | $4.2M+25.9% |
| Net Income | $6.4M-45.3% | -$745K-264.5% | N/A | -$22.0M-733.6% | $11.7Mn/m | $453Kn/m | $1.9M-55.8% | $3.5M-55.2% |
| EPS (Basic) | $0.46-54.9% | -$0.05-225.0% | -$1.74-1066.7% | -$1.79-642.4% | $1.02n/m | $0.04n/m | $0.18-67.9% | $0.33-67.6% |
| EPS (Diluted) | $0.46-54.9% | -$0.05-225.0% | -$1.74-1066.7% | -$1.79-642.4% | $1.02n/m | $0.04n/m | $0.18-67.9% | $0.33-67.6% |
| Diluted Shares (Avg) | 14M+20.2% | 14M+21.1% | N/A | 12M+17.9% | 12M+21.0% | 12M+33.3% | N/A | 10M+37.5% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Income Tax.
GECC 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $280.0M-31.6% | $282.8M-19.4% | $340.8M-0.4% | $420.0M-1.6% | $409.3M+25.4% | $350.8M+25.7% | $342.0M+38.6% | $427.0M+73.4% |
| Cash & Equivalents | $1.7M+73.9% | N/A | $1.8Mn/m | N/A | $960K-62.7% | $1.3M+281.1% | $0-100.0% | $305K-82.9% |
| Total Liabilities | $169.6M-37.0% | $175.3M-19.8% | $227.8M+10.6% | $280.0M-7.1% | $269.3M+34.3% | $218.5M+36.3% | $205.9M+39.1% | $301.2M+103.0% |
| Long-Term Debt | $150.9M-20.8% | $169.1M-11.0% | $189.3M-0.2% | $200.2M-12.9% | $190.5M+9.6% | $190.1M+35.3% | $189.7M+35.3% | $230.0M+64.3% |
| Total Equity | $110.4M-21.1% | $107.5M-18.8% | $112.9M-17.0% | $140.1M+11.3% | $140.0M+11.1% | $132.3M+11.4% | $136.1M+37.9% | $125.8M+28.5% |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | N/A | $14.9M+30.6% | N/A |
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.
GECC 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $13.2M+35.7% | $23.5Mn/m | $18.6M-40.8% | -$25.2Mn/m | $9.7Mn/m | -$5.9Mn/m | $31.4M+1396.0% | -$54.4M-618.3% |
| Financing Cash Flow | -$11.5Mn/m | -$25.3M-454.6% | -$16.8Mn/m | $24.3M-53.4% | -$10.0M-127.4% | $7.1M-71.1% | -$31.7Mn/m | $52.1Mn/m |
| Dividends Paid | $3.5M-18.9% | $4.2M-13.4% | $5.2M+28.2% | $4.9M+34.9% | $4.3M+29.4% | $4.8M+19.2% | $4.0M+51.9% | $3.7M+37.4% |
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Share Buybacks.
GECC 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Net Margin | N/A | N/A | N/A | N/A | N/A | 3.6%+8.8pp | 20.4%-25.6pp | 29.6%-54.0pp |
| Return on Equity | 5.8%-2.6pp | -0.7%-1.0pp | N/A | -15.7%-18.5pp | 8.4%+9.4pp | 0.3%+0.7pp | 1.4%-2.9pp | 2.8%-5.2pp |
| Return on Assets | 2.3%-0.6pp | -0.3%-0.4pp | N/A | -5.2%-6.0pp | 2.9%+3.3pp | 0.1%+0.3pp | 0.5%-1.2pp | 0.8%-2.3pp |
| Debt-to-Equity | 1.370.0x | 1.57+0.1x | 1.68+0.3x | 1.43-0.4x | 1.360.0x | 1.44+0.3x | 1.390.0x | 1.83+0.4x |
| Liabilities-to-Equity | 1.54-0.4x | 1.630.0x | 2.02+0.5x | 2.00-0.4x | 1.92+0.3x | 1.65+0.3x | 1.510.0x | 2.39+0.9x |
| Asset Turnover | N/A | N/A | N/A | N/A | N/A | 0.040.0x | 0.030.0x | 0.030.0x |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, FCF Margin.
Where Great Elm Capital. Corp. Ranks
Frequently Asked Questions
Is Great Elm Capital. Corp. profitable?
No, Great Elm Capital. Corp. (GECC) reported a net loss of $31.8M in fiscal year 2025.
How much debt does Great Elm Capital. Corp. have?
As of fiscal year 2025, Great Elm Capital. Corp. (GECC) had $1.8M in cash and equivalents against $189.3M in long-term debt.
What is Great Elm Capital. Corp.'s return on equity (ROE)?
Great Elm Capital. Corp. (GECC) has a return on equity of -28.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Great Elm Capital. Corp.'s operating cash flow?
Great Elm Capital. Corp. (GECC) recorded an outflow of $2.8M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Great Elm Capital. Corp.'s total assets?
Great Elm Capital. Corp. (GECC) had $340.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Great Elm Capital. Corp.'s debt-to-equity ratio?
Great Elm Capital. Corp. (GECC) had a debt-to-equity ratio of 1.68 as of fiscal year 2025. 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.
What is Great Elm Capital. Corp.'s liabilities-to-equity ratio?
Great Elm Capital. Corp. (GECC) had a liabilities-to-equity ratio of 2.02 as of fiscal year 2025, 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.
What is Great Elm Capital. Corp.'s return on assets (ROA)?
Great Elm Capital. Corp. (GECC) had a return on assets of -9.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Great Elm Capital. Corp.'s P/E ratio?
Great Elm Capital. Corp. (GECC) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $66.0M as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Great Elm Capital. Corp.'s price-to-sales ratio?
Great Elm Capital. Corp. (GECC) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $66.0M as of Oct 23, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Great Elm Capital. Corp.'s Piotroski F-Score?
Great Elm Capital. Corp. (GECC) 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.
Are Great Elm Capital. Corp.'s earnings high quality?
Great Elm Capital. Corp. (GECC) reported a net loss of $31.8M while operations used $2.8M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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.