What is Blackrock Tcp Capital Corp's earnings per share (EPS)?

Blackrock Tcp Capital Corp (TCPC) reported diluted earnings per share of -$1.05 for fiscal year 2025. This represents a -32.9% 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.

Blackrock Tcp Capital Corp Financials

TCPC

FY2025 annual

Revenue Not reported for FY2025

Net Income -$88.9M -40.9% YoY

EPS (Diluted) -$1.05 -32.9% YoY

Free Cash Flow Not reported for FY2025

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 6, 2026 Currency USD FYE December

This page shows Blackrock Tcp Capital Corp (TCPC) 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).

Rhea AI TCPC FY2025 2026-08-29

Reported cash generation coexists with recurring accounting losses, while shrinking equity makes leverage the dominant balance-sheet mechanic.

Cash and earnings diverged: in FY2025, operating cash flow was $155M even as net income was -$89M. That inflow fell from $293M in FY2024, so positive cash movement did not translate into improving reported profitability or a stronger capital base.

Leverage increased through balance-sheet contraction: debt-to-equity rose from 1.4x in FY2023 to 1.7x in FY2025, a higher claim on the company's capital structure. By FY2025, total equity was $598M and total assets were $1.7B, indicating less equity beneath the debt.

Distributions continued during back-to-back losses: FY2025 dividends were $95M against a net loss of -$89M, showing that reported earnings did not dictate the payout in that period. Operating cash flow was $155M while financing cash flow was -$185M, so the cash profile reflects both operating inflows and substantial financing movement rather than a simple earnings-funded payout.

Financial Health Signals

Financial health score not available

Blackrock Tcp 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.

Piotroski F-Score Partial

3/6

Blackrock Tcp Capital Corp passes 3 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.

Earnings Quality Mixed

N/A

Blackrock Tcp Capital Corp reported a net loss of $88.9M while generating $154.9M 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

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Earnings & Revenue

Net Income

-$88.9M

YoY-40.9%

Blackrock Tcp Capital Corp reported -$88.9M in net income in fiscal year 2025. This represents a decrease of 40.9% from the prior year.

EPS (Diluted)

-$1.05

YoY-32.9%

Blackrock Tcp Capital Corp earned -$1.05 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 32.9% from the prior year.

Revenue

Not reported for fiscal year 2025.

EBITDA

Not reported for fiscal year 2025.

Cash & Balance Sheet

Cash & Debt

$61.1M

YoY-33.3%

5Y CAGR+25.0%

Blackrock Tcp Capital Corp held $61.1M in cash against $1.0B in long-term debt as of fiscal year 2025.

Dividends Per Share

$1.12

YoY-23.3%

5Y CAGR-3.2%

Blackrock Tcp Capital Corp paid $1.12 per share in dividends in fiscal year 2025. This represents a decrease of 23.3% from the prior year.

Shares Outstanding

84M

YoY-0.9%

Blackrock Tcp Capital Corp had 84M shares outstanding in fiscal year 2025. This represents a decrease of 0.9% from the prior year.

Free Cash Flow

Not reported for fiscal year 2025.

Margins & Returns

Return on Equity

-14.9%

YoY-6.8pp

5Y CAGR-24.2pp

Blackrock Tcp Capital Corp's ROE was -14.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 6.8 percentage points from the prior year.

Gross Margin

Not reported for fiscal year 2025.

Operating Margin

Not reported for fiscal year 2025.

Net Margin

Not reported for fiscal year 2025.

Capital Allocation

Share Buybacks

$3.0M

YoY-33.4%

Blackrock Tcp Capital Corp spent $3.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 33.4% from the prior year.

R&D Spending

Not reported for fiscal year 2025.

Capital Expenditures

Not reported for fiscal year 2025.

TCPC Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

TCPC quarterly income statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20
SG&A Expenses	N/A	$1.9M-19.5%	$2.4M+55.9%	$1.5M-13.0%	$1.8M-4.9%	$1.9M	N/A
Interest Expense	N/A	$59.2M-10.6%	$66.2M+50.5%	$44.0M+23.8%	$35.5M-0.6%	$35.7M-2.1%	$36.5M
Net Income	N/A	-$88.9M-40.9%	-$63.1M-264.1%	$38.5M+517.1%	-$9.2M-106.9%	$133.8M+87.4%	$71.4M
EPS (Diluted)	-$1.28	-$1.05-32.9%	-$0.79-217.9%	$0.67+518.8%	-$0.16-106.9%	$2.32+88.6%	$1.23

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
SG&A Expenses	$410K-18.0%	$500K	N/A	$415K-18.6%	$510K-20.5%	$641K	N/A	$547K
Interest Expense	$15.0M+1.9%	$14.7M	N/A	$16.8M-1.6%	$17.1M+11.5%	$15.3M	N/A	$21.2M
Net Income	$1.7M+110.7%	-$16.3M	N/A	$24.4M+253.2%	-$15.9M-176.1%	$20.9M	N/A	$21.6M
EPS (Diluted)	$0.02+110.5%	-$0.19+86.4%	-$1.40-582.8%	$0.29+252.6%	-$0.19-176.0%	$0.25+153.2%	-$0.47-288.0%	$0.25

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, Income Tax.

TCPC Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

TCPC quarterly balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$1.7B-14.2%	$1.9B+13.2%	$1.7B-1.2%	$1.7B-9.2%	$1.9B	N/A
Cash & Equivalents	$61.1M-33.3%	$91.6M-18.4%	$112.2M+36.2%	$82.4M+321.6%	$19.6M-2.3%	$20.0M
Total Liabilities	$1.1B-7.5%	$1.1B+12.5%	$1.0B+4.0%	$972.6M-8.7%	$1.1B	N/A
Long-Term Debt	$1.0B-7.4%	$1.1B+13.5%	$985.2M+4.4%	$944.0M-6.8%	$1.0B	N/A
Total Equity	$598.0M-23.8%	$785.1M+14.2%	$687.6M-7.9%	$746.8M-10.0%	$829.5M+8.4%	$765.0M
Retained Earnings	-$1.1B-19.7%	-$946.0M-237.7%	-$280.1M-26.6%	-$221.2M	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$1.5B-2.2%	$1.5B-8.5%	$1.7B-8.9%	$1.8B-6.5%	$1.9B+2.0%	$1.9B-1.3%	$1.9B-6.1%	$2.0B
Cash & Equivalents	$157.5M+68.9%	$93.3M+52.7%	$61.1M+0.1%	$61.0M-43.2%	$107.3M+8.3%	$99.1M+8.2%	$91.6M-12.1%	$104.2M
Total Liabilities	$924.5M-2.1%	$944.4M-10.3%	$1.1B-1.7%	$1.1B-10.5%	$1.2B+7.1%	$1.1B-1.8%	$1.1B-3.7%	$1.2B
Long-Term Debt	$910.6M-1.6%	$925.8M-10.6%	$1.0B-1.5%	$1.1B-10.5%	$1.2B+6.9%	$1.1B-1.7%	$1.1B-3.6%	$1.2B
Total Equity	$552.0M-2.3%	$565.1M-5.5%	$598.0M-19.2%	$740.0M-0.1%	$740.5M-5.2%	$781.3M-0.5%	$785.1M-9.3%	$865.6M
Retained Earnings	-$1.2B-1.1%	-$1.2B-2.7%	-$1.1B-14.3%	-$990.7M0.0%	-$990.4M-4.3%	-$949.8M-0.4%	-$946.0M-147.3%	-$382.5M

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities.

TCPC Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

TCPC quarterly cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$399.7M	$154.9M-47.1%	$293.1M+217.0%	$92.5M-54.7%	$203.9M+346.9%	-$82.6M-167.5%	$122.3M
Financing Cash Flow	-$349.5M	-$185.4M+40.9%	-$313.8M-400.9%	-$62.6M+55.6%	-$141.1M-271.7%	$82.2M+155.8%	-$147.2M
Dividends Paid	$74.4M	$95.2M-22.3%	$122.5M+21.9%	$100.5M+42.6%	$70.5M+1.7%	$69.3M-9.5%	$76.6M
Share Buybacks	$5.6M	$3.0M-33.4%	$4.5M	$0	$0	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	$96.3M-39.5%	$159.1M+292.6%	$40.5M-60.9%	$103.7M+347.8%	-$41.9M-179.7%	$52.5M-26.7%	$71.7M-29.5%	$101.6M
Financing Cash Flow	-$32.0M+74.8%	-$126.9M-213.8%	-$40.5M+73.0%	-$150.1M-399.7%	$50.1M+211.3%	-$45.0M+46.6%	-$84.3M+56.1%	-$192.1M
Dividends Paid	$14.3M-0.4%	$14.3M-32.4%	$21.2M-14.1%	$24.7M0.0%	$24.7M0.0%	$24.7M-34.1%	$37.4M+28.6%	$29.1M
Share Buybacks	$591K-74.1%	$2.3M-10.4%	$2.5M+1465.6%	$163K-40.7%	$274K+919.7%	$27K-99.4%	$4.5M	$0

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Investing Cash Flow.

TCPC Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

TCPC quarterly financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Return on Equity	-14.9%-6.8pp	-8.0%-13.6pp	5.6%+6.8pp	-1.2%-17.4pp	16.1%+6.8pp	9.3%
Return on Assets	-5.4%-2.1pp	-3.3%-5.5pp	2.3%+2.8pp	-0.5%-7.6pp	7.1%	N/A
Debt-to-Equity	1.73+0.3x	1.420.0x	1.43+0.2x	1.260.0x	1.22	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Return on Equity	0.3%+3.2pp	-2.9%	N/A	3.3%+5.4pp	-2.1%-4.8pp	2.7%	N/A	2.5%
Return on Assets	0.1%+1.2pp	-1.1%	N/A	1.4%+2.2pp	-0.8%-1.9pp	1.1%	N/A	1.1%
Debt-to-Equity	1.650.0x	1.64-0.1x	1.73+0.3x	1.42-0.2x	1.59+0.2x	1.410.0x	1.42+0.1x	1.34

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Current Ratio, FCF Margin.

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Where Blackrock Tcp Capital Corp Ranks

Frequently Asked Questions

Is Blackrock Tcp Capital Corp profitable?

No, Blackrock Tcp Capital Corp (TCPC) reported a net income of -$88.9M in fiscal year 2025.

How much debt does Blackrock Tcp Capital Corp have?

As of fiscal year 2025, Blackrock Tcp Capital Corp (TCPC) had $61.1M in cash and equivalents against $1.0B in long-term debt.

Does Blackrock Tcp Capital Corp pay dividends?

Yes, Blackrock Tcp Capital Corp (TCPC) paid $1.12 per share in dividends during fiscal year 2025.

What is Blackrock Tcp Capital Corp's return on equity (ROE)?

Blackrock Tcp Capital Corp (TCPC) has a return on equity of -14.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Blackrock Tcp Capital Corp's operating cash flow?

Blackrock Tcp Capital Corp (TCPC) generated $154.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Blackrock Tcp Capital Corp's total assets?

Blackrock Tcp Capital Corp (TCPC) had $1.7B in total assets as of fiscal year 2025, including both current and long-term assets.

Does Blackrock Tcp Capital Corp buy back shares?

Yes, Blackrock Tcp Capital Corp (TCPC) spent $3.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Blackrock Tcp Capital Corp have outstanding?

Blackrock Tcp Capital Corp (TCPC) had 84M shares outstanding as of fiscal year 2025.

What is Blackrock Tcp Capital Corp's debt-to-equity ratio?

Blackrock Tcp Capital Corp (TCPC) had a debt-to-equity ratio of 1.73 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Blackrock Tcp Capital Corp's return on assets (ROA)?

Blackrock Tcp Capital Corp (TCPC) had a return on assets of -5.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Blackrock Tcp Capital Corp's Piotroski F-Score?

Blackrock Tcp Capital Corp (TCPC) has a Piotroski F-Score of 3 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 Blackrock Tcp Capital Corp's earnings high quality?

Blackrock Tcp Capital Corp (TCPC) reported a net loss of $88.9M while generating $154.9M 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.