Rand Capital Financials
This page shows Rand Capital (RAND) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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).
Accounting results swing sharply, while cash generation and a lightly leveraged balance sheet remain the operating anchors.
In FY2025, the net loss of-$8.0M coincided with operating cash flow of$11.3M , unlike FY2023 when profit of$6.5M accompanied cash flow of-$8.3M . That reversal indicates reported earnings are being shaped by noncash or timing effects rather than tracking cash movement cleanly.
The balance sheet contracted from
FY2025’s
Financial Health Signals
Rand Capital 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.
Rand Capital passes 3 of 5 computable financial strength tests (4 of the nine could not be computed from available data). 2 of 4 profitability signals pass, all 1 leverage/liquidity signals pass.
Rand Capital reported a net loss of $8.0M while generating $11.3M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Rand Capital reported -$8.0M in net income in fiscal year 2025. This represents a decrease of 191.1% from the prior year.
Rand Capital earned -$2.73 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 179.8% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Rand Capital held $4.2M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Rand Capital's ROE was -15.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 28.9 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
None of these metrics is reported for fiscal year 2025.
RAND Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Interest Expense | $72K+144.8% | $30K | N/A | $25K0.0% | $25K-30.3% | $36K | N/A | $245K |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -$3K |
| Net Income | $1.4M+471.8% | -$367K-133.8% | $1.1M+148.7% | -$2.2M+71.2% | -$7.7M-1019.4% | $841K+128.6% | -$2.9M-211.7% | $2.6M |
| EPS (Diluted) | $0.46+483.3% | -$0.12-132.4% | $0.37+149.3% | -$0.75+71.2% | -$2.60-996.6% | $0.29+125.4% | -$1.14-211.8% | $1.02 |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income.
RAND Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $57.7M+9.8% | $52.5M-1.3% | $53.2M-2.5% | $54.6M-5.3% | $57.6M-15.0% | $67.8M-6.4% | $72.5M-9.2% | $79.8M |
| Cash & Equivalents | $430K+30.0% | $331K-92.1% | $4.2M-55.7% | $9.5M+114.7% | $4.4M-10.4% | $4.9M+490.9% | $835K-75.1% | $3.4M |
| Accounts Receivable | $61K | N/A | $0-100.0% | $21K+4.8% | $20K0.0% | $20K-12.8% | $23K | N/A |
| Total Liabilities | $6.2M+297.5% | $1.6M+54.1% | $1.0M+5.6% | $958K+3.5% | $926K-63.1% | $2.5M-64.8% | $7.1M-23.8% | $9.4M |
| Total Equity | $51.5M+1.0% | $51.0M-2.4% | $52.2M-2.7% | $53.6M-5.5% | $56.7M-13.2% | $65.3M0.0% | $65.3M-7.3% | $70.4M |
| Retained Earnings | -$11.3M+4.3% | -$11.8M-11.6% | -$10.6M-15.8% | -$9.2M-50.9% | -$6.1M-340.8% | $2.5M-0.8% | $2.5M-84.1% | $15.9M |
Not reported in any period shown, so not listed: Current Assets, Inventory, Goodwill, Current Liabilities, Long-Term Debt.
RAND Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$3.6M-3.5% | -$3.5M-27.6% | -$2.8M-146.5% | $5.9M+1606.2% | $348K-95.5% | $7.7M+888.3% | $782K-94.8% | $15.1M |
| Financing Cash Flow | $3.7M+1135.3% | -$361K+85.7% | -$2.5M-193.1% | -$861K0.0% | -$861K+76.3% | -$3.6M-10.0% | -$3.3M+76.5% | -$14.0M |
| Dividends Paid | $861K0.0% | $861K-65.9% | $2.5M+193.1% | $861K0.0% | $861K-71.6% | $3.0M | $0-100.0% | $748K |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Investing Cash Flow, Share Buybacks.
RAND Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | 2.7%+3.4pp | -0.7%-2.8pp | 2.1%+6.2pp | -4.2%+9.5pp | -13.6%-14.9pp | 1.3%+5.8pp | -4.5%-8.3pp | 3.7% |
| Return on Assets | 2.4%+3.1pp | -0.7%-2.7pp | 2.0%+6.1pp | -4.1%+9.3pp | -13.4%-14.7pp | 1.2%+5.3pp | -4.1%-7.4pp | 3.3% |
| Debt-to-Equity | 0.12+0.1x | 0.030.0x | 0.020.0x | 0.020.0x | 0.020.0x | 0.04-0.1x | 0.110.0x | 0.13 |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Current Ratio, FCF Margin.
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Where Rand Capital Ranks
Frequently Asked Questions
Is Rand Capital profitable?
No, Rand Capital (RAND) reported a net income of -$8.0M in fiscal year 2025.
What is Rand Capital's return on equity (ROE)?
Rand Capital (RAND) has a return on equity of -15.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Rand Capital's operating cash flow?
Rand Capital (RAND) generated $11.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Rand Capital's total assets?
Rand Capital (RAND) had $53.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Rand Capital's debt-to-equity ratio?
Rand Capital (RAND) had a debt-to-equity ratio of 0.02 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Rand Capital's return on assets (ROA)?
Rand Capital (RAND) had a return on assets of -15.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Rand Capital's Piotroski F-Score?
Rand Capital (RAND) has a Piotroski F-Score of 3 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 Rand Capital's earnings high quality?
Rand Capital (RAND) reported a net loss of $8.0M while generating $11.3M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, 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.