Great Elm Capital Corp. 8.75% Notes due 2028 (GECCZ) Financials
Newest figures come from the 10-Q for Q1 FY2026, filed May 4, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the GECCZ SEC filings page.
This page shows Great Elm Capital Corp. 8.75% Notes due 2028 (GECCZ) 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).
The latest year paired a deeper loss with near-break-even operating cash flow, while liabilities rose against shrinking equity.
The earnings deterioration did not mirror cash flow: net income moved from a profit of$3.6M in FY2024 to a loss of$31.8M in FY2025, while operating cash flow improved from an outflow of$82.7M to$2.8M . That mismatch indicates the FY2025 reported loss was not accompanied by a similarly sized operating cash outflow.
Balance-sheet pressure increased as liabilities rose
The asset base was
Financial Health Signals
Great Elm Capital Corp. 8.75% Notes due 2028 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. 8.75% Notes due 2028 passes 1 of 5 computable financial strength tests (4 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. 8.75% Notes due 2028 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. 8.75% Notes due 2028 reported a net loss of $745K in Q1 2026. This represents a decrease of 264.5% from the same quarter a year earlier.
Great Elm Capital Corp. 8.75% Notes due 2028 earned -$0.05 per diluted share (EPS) in Q1 2026. This represents a decrease of 225.0% from the same quarter a year earlier.
Not reported for Q1 2026.
Not reported for Q1 2026.
Cash & Balance Sheet
Not reported for Q1 2026.
Not reported for Q1 2026.
Not reported for Q1 2026.
Margins & Returns
Great Elm Capital Corp. 8.75% Notes due 2028's quarterly ROE was -0.7% in Q1 2026: one quarter's net income over shareholder equity, not annualized. This is down 1.0 percentage points from the same quarter a year earlier.
Not reported for Q1 2026.
Not reported for Q1 2026.
Not reported for Q1 2026.
Capital Allocation
None of these metrics is reported for Q1 2026.
GECCZ 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 | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'25 | Q4'2410-K | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | $12.5M+40.3% | $9.1M-0.3% | $11.7M+26.4% | $9.5M+6.4% |
| Interest Expense | $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% | $3.5M+25.4% |
| Net Income | -$745K-264.5% | N/A | -$22.0M-733.6% | $11.7Mn/m | $453Kn/m | $1.9M-55.8% | $3.5M-55.2% | -$1.3M-125.5% |
| EPS (Basic) | -$0.05-225.0% | N/A | -$1.79-642.4% | $1.02n/m | $0.04n/m | N/A | $0.33-67.6% | -$0.14-120.6% |
| EPS (Diluted) | -$0.05-225.0% | N/A | -$1.79-642.4% | $1.02n/m | $0.04n/m | N/A | $0.33-67.6% | -$0.14-120.6% |
| Diluted Shares (Avg) | 14M+21.1% | N/A | 12M+17.9% | 12M+21.0% | 12M+33.3% | N/A | 10M+37.5% | 10M+25.6% |
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.
GECCZ 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 | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'25 | Q4'2410-K | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $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% | $326.5M+1.3% |
| Cash & Equivalents | N/A | $1.8Mn/m | N/A | $960K-62.7% | $1.3M+281.1% | $0-100.0% | $305K-82.9% | $2.6M-23.2% |
| Total Liabilities | $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% | $200.5M-12.7% |
| Total Equity | $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% | $126.0M+35.7% |
| Retained Earnings | N/A | N/A | N/A | N/A | N/A | $14.9M+30.6% | N/A | 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, Long-Term Debt.
GECCZ 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 | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'25 | Q4'2410-K | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $23.5Mn/m | $18.6M-40.8% | -$25.2Mn/m | $9.7Mn/m | -$5.9Mn/m | $31.4M+1396.0% | -$54.4M-618.3% | -$34.3M-885.4% |
| Financing Cash Flow | -$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 | $36.6Mn/m |
| Dividends Paid | $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% | $3.3M+24.4% |
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Share Buybacks.
GECCZ 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 | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'25 | Q4'2410-K | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Net Margin | N/A | N/A | N/A | N/A | 3.6%+8.8pp | 20.4%-25.6pp | 29.6%-54.0pp | -13.9%-71.8pp |
| Return on Equity | -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 | -1.1%-6.7pp |
| Return on Assets | -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 | -0.4%-2.0pp |
| Liabilities-to-Equity | 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 | 1.59-0.9x |
| Asset Turnover | N/A | N/A | N/A | N/A | 0.040.0x | 0.030.0x | 0.030.0x | 0.030.0x |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, Debt-to-Equity, FCF Margin.
Where Great Elm Capital Corp. 8.75% Notes due 2028 Ranks
Frequently Asked Questions
Is Great Elm Capital Corp. 8.75% Notes due 2028 profitable?
No, Great Elm Capital Corp. 8.75% Notes due 2028 (GECCZ) reported a net loss of $31.8M in fiscal year 2025.
What is Great Elm Capital Corp. 8.75% Notes due 2028's return on equity (ROE)?
Great Elm Capital Corp. 8.75% Notes due 2028 (GECCZ) 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. 8.75% Notes due 2028's operating cash flow?
Great Elm Capital Corp. 8.75% Notes due 2028 (GECCZ) 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. 8.75% Notes due 2028's total assets?
Great Elm Capital Corp. 8.75% Notes due 2028 (GECCZ) had $340.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Great Elm Capital Corp. 8.75% Notes due 2028's liabilities-to-equity ratio?
Great Elm Capital Corp. 8.75% Notes due 2028 (GECCZ) 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. No debt-to-equity ratio is shown for fiscal year 2025, because the filing data we hold for that year carries no long-term debt figure.
What is Great Elm Capital Corp. 8.75% Notes due 2028's return on assets (ROA)?
Great Elm Capital Corp. 8.75% Notes due 2028 (GECCZ) 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. 8.75% Notes due 2028's Piotroski F-Score?
Great Elm Capital Corp. 8.75% Notes due 2028 (GECCZ) has a Piotroski F-Score of 1 out of 5 computable signals; 4 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. 8.75% Notes due 2028's earnings high quality?
Great Elm Capital Corp. 8.75% Notes due 2028 (GECCZ) 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.