1.Sales and profit
See section β- Capital Southwest Corp had $232M of revenue in fiscal 2026, up 13.5% on the year before.
- Capital Southwest Corp made $113M of net profit in fiscal 2026.
Capital Southwest Corp
CSWC Nasdaq Financials FY2010βFY2026
Capital Southwest Corp had $232M of revenue in fiscal 2026, up 13.5% on the year before.
Download report
3-page PDF: the company, its results and charts with peers.
Last close Β· Oct 23, 2026
$22.37
0.0%KIRAβs summary AI analyst
Hi! I read Capital Southwest Corpβs latest annual report (fiscal 2026). Here is what stands out:
2 strengths 2 to watch
2.Cash and shareholders
See section β- Free cash flow was β$194M in fiscal 2026, β83.5% of revenue.
- Capital Southwest Corp returned $147M to shareholders in fiscal 2026. The diluted share count rose 28.6%.
- No open-market insider trades in the last 12 months.
3.Financial health
See section β- Capital Southwest Corp owes $1.1B more than it holds in cash.
- Capital Southwest Corp passes 2 of 7 financial health tests (Piotroski F-score).
Capital Southwest Corp in 30 seconds
Good So-so Weak
Good
Are sales growing?
+13.5%
Yes. Sales grew 13.5% last year.
Good
Does it make a profit?
48.7%
Yes. It keeps 48.7% of every sale as profit.
Weak
Does profit turn into cash?
β83.5%
No. It spent more cash than it brought in.
Weak
How healthy are the accounts?
2 / 7
Weak. It passes 2 of 7 health tests.
For information
How is the share priced?
12.4x
One share costs 12.4 times its yearly profit per share.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Key numbers, fiscal 2026
Market cap
Last close times the latest diluted share count, so it is approximate.
$1.6B
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
12.4x
On $1.81 EPS (TTM)
Charts by
Sales and profit
Is it selling more, and how much does it keep?
Results dates
In plain words: Every quarter, companies publish how much they sold and earned. These are the days Capital Southwest Corp did it, and the next one. Share prices often move a lot on those days.
Next results
November 2, 2026
Monday Β· in 7 days
- Time
- After the market closes
- Covers
- Period ended Sep 30, 2026
- Expected EPS
- $0.55
- Source
- Earnings calendar
| Date | Results for | Time | Source |
|---|---|---|---|
| Oct 15, 2026 | Period ended Sep 30, 2026 | After the market closes | 8-K β |
| Jul 16, 2026 | Q1 '27 | After the market closes | 8-K β |
| Apr 16, 2026 | Q4 '26 | After the market closes | 8-K β |
| Jan 15, 2026 | Q3 '26 | After the market closes | 8-K β |
| Oct 15, 2025 | Q2 '26 | After the market closes | 8-K β |
| Jul 15, 2025 | Q1 '26 | After the market closes | 8-K β |
| Apr 14, 2025 | Q4 '25 | After the market closes | 8-K β |
| Jan 15, 2025 | Q3 '25 | After the market closes | 8-K β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
Revenue and margins
KIRA Β· Capital Southwest Corp had $232M of revenue in fiscal 2026, up 13.5% on the year before.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
FY10
Revenue $6.1M
FY11
Revenue $7.6M
FY12
Revenue $9.3M
FY13
Revenue $10.8M
FY21
Revenue β
FY22
Revenue $82.2M
FY23
Revenue $119M
FY24
Revenue $178M
FY25
Revenue $204M
FY26
Revenue $232M
Revenue
Q2 '24
Revenue $42.8M
Q3 '24
Revenue $48.6M
Q4 '24
Revenue $46.4M
Q1 '25
Revenue $51.4M
Q2 '25
Revenue $48.7M
Q3 '25
Revenue $52.0M
Q4 '25
Revenue $52.4M
Q1 '26
Revenue $55.9M
Q2 '26
Revenue $56.9M
Q3 '26
Revenue $61.4M
Q4 '26
Revenue $57.8M
Q1 '27
Revenue $61.0M
Margins, % of revenue
FY10
Gross β
Operating β
Net β
FCF β
FY11
Gross β
Operating β
Net β
FCF β
FY12
Gross β
Operating β
Net β
FCF β
FY13
Gross β
Operating β
Net β
FCF β
FY21
Gross β
Operating β
Net β
FCF β
FY22
Gross β
Operating β
Net 52.1%
FCF β224.6%
FY23
Gross β
Operating β
Net 27.7%
FCF β190.6%
FY24
Gross β
Operating β
Net 46.8%
FCF β105.8%
FY25
Gross β
Operating β
Net 34.5%
FCF β107.1%
FY26
Gross β
Operating β
Net 48.7%
FCF β83.5%
Gross
Operating
Net
FCF
Margins, % of revenue
Q2 '24
Gross β
Operating β
Net 52.9%
FCF β114.1%
Q3 '24
Gross β
Operating β
Net 48.4%
FCF 37.1%
Q4 '24
Gross β
Operating β
Net 29.0%
FCF β219.9%
Q1 '25
Gross β
Operating β
Net 27.3%
FCF 60.6%
Q2 '25
Gross β
Operating β
Net 46.6%
FCF β49.9%
Q3 '25
Gross β
Operating β
Net 31.3%
FCF β320.5%
Q4 '25
Gross β
Operating β
Net 33.5%
FCF β112.8%
Q1 '26
Gross β
Operating β
Net 48.3%
FCF 54.3%
Q2 '26
Gross β
Operating β
Net 45.0%
FCF β125.2%
Q3 '26
Gross β
Operating β
Net 53.5%
FCF β152.4%
Q4 '26
Gross β
Operating β
Net 47.6%
FCF β102.5%
Q1 '27
Gross β
Operating β
Net 40.5%
FCF β132.5%
Gross
Operating
Net
FCF
Net income and earnings per share
KIRA Β· Capital Southwest Corp made $113M of net profit in fiscal 2026.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
FY10
Net income β
FY11
Net income β
FY12
Net income β
FY13
Net income β
FY21
Net income β
FY22
Net income $42.8M
FY23
Net income $33.1M
FY24
Net income $83.4M
FY25
Net income $70.5M
FY26
Net income $113M
Net income
Q2 '24
Net income $22.6M
Q3 '24
Net income $23.5M
Q4 '24
Net income $13.5M
Q1 '25
Net income $14.0M
Q2 '25
Net income $22.7M
Q3 '25
Net income $16.3M
Q4 '25
Net income $17.6M
Q1 '26
Net income $27.0M
Q2 '26
Net income $25.6M
Q3 '26
Net income $32.9M
Q4 '26
Net income $27.5M
Q1 '27
Net income $24.7M
Diluted EPS
FY10
Diluted EPS β
FY11
Diluted EPS β
FY12
Diluted EPS β
FY13
Diluted EPS β
FY21
Diluted EPS β
FY22
Diluted EPS $1.87
FY23
Diluted EPS $2.29
FY24
Diluted EPS $2.05
FY25
Diluted EPS $1.47
FY26
Diluted EPS $1.90
Diluted EPS
Q2 '24
Diluted EPS $0.69
Q3 '24
Diluted EPS $0.70
Q4 '24
Diluted EPS $0.67
Q1 '25
Diluted EPS $0.31
Q2 '25
Diluted EPS $0.48
Q3 '25
Diluted EPS $0.34
Q4 '25
Diluted EPS $0.34
Q1 '26
Diluted EPS $0.48
Q2 '26
Diluted EPS $0.44
Q3 '26
Diluted EPS $0.54
Q4 '26
Diluted EPS $0.44
Q1 '27
Diluted EPS $0.39
Cash and shareholders
How much cash comes in, and where does it go?
Cash flow
KIRA Β· Free cash flow was β$194M in fiscal 2026, β83.5% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
FY10
Free cash flow β
FY11
Free cash flow β
FY12
Free cash flow β
FY13
Free cash flow β
FY21
Free cash flow β
FY22
Free cash flow β$185M
FY23
Free cash flow β$227M
FY24
Free cash flow β$189M
FY25
Free cash flow β$219M
FY26
Free cash flow β$194M
Free cash flow
Q2 '24
Free cash flow β$48.8M
Q3 '24
Free cash flow $18.0M
Q4 '24
Free cash flow β$102M
Q1 '25
Free cash flow $31.1M
Q2 '25
Free cash flow β$24.3M
Q3 '25
Free cash flow β$167M
Q4 '25
Free cash flow β$59.1M
Q1 '26
Free cash flow $30.4M
Q2 '26
Free cash flow β$71.3M
Q3 '26
Free cash flow β$93.6M
Q4 '26
Free cash flow β$59.2M
Q1 '27
Free cash flow β$80.9M
Cash from operations vs capital spending
FY10
Cash from operations β$6.8M
Capital spending β
FY11
Cash from operations $68.2M
Capital spending β
FY12
Cash from operations $23.5M
Capital spending β
FY13
Cash from operations $94.3M
Capital spending β
FY21
Cash from operations β
Capital spending β
FY22
Cash from operations β$183M
Capital spending $2.0M
FY23
Cash from operations β$227M
Capital spending $0.3M
FY24
Cash from operations β$188M
Capital spending $0.0M
FY25
Cash from operations β$217M
Capital spending $1.7M
FY26
Cash from operations β$194M
Capital spending $0.3M
Cash from operations
Capital spending
Cash from operations vs capital spending
Q2 '24
Cash from operations β$48.8M
Capital spending $0.0M
Q3 '24
Cash from operations $18.0M
Capital spending $0.0M
Q4 '24
Cash from operations β$102M
Capital spending $0.0M
Q1 '25
Cash from operations $31.1M
Capital spending $0.0M
Q2 '25
Cash from operations β$23.8M
Capital spending $0.5M
Q3 '25
Cash from operations β$166M
Capital spending $0.7M
Q4 '25
Cash from operations β$58.7M
Capital spending $0.4M
Q1 '26
Cash from operations $30.5M
Capital spending $0.1M
Q2 '26
Cash from operations β$71.2M
Capital spending $0.1M
Q3 '26
Cash from operations β$93.6M
Capital spending $0.0M
Q4 '26
Cash from operations β$59.1M
Capital spending $0.0M
Q1 '27
Cash from operations β$80.9M
Capital spending $0.0M
Cash from operations
Capital spending
Dividends, buybacks and share count
KIRA Β· Capital Southwest Corp returned $147M to shareholders in fiscal 2026. The diluted share count rose 28.6%.
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
FY10
Dividends β
Buybacks β
FY11
Dividends $0.0M
Buybacks β
FY12
Dividends $0.0M
Buybacks β
FY13
Dividends $77.3M
Buybacks β
FY21
Dividends β
Buybacks β
FY22
Dividends $58.6M
Buybacks β
FY23
Dividends $71.1M
Buybacks β
FY24
Dividends $103M
Buybacks β
FY25
Dividends $125M
Buybacks β
FY26
Dividends $147M
Buybacks β
Dividends
Buybacks
Dividends and buybacks
Q2 '24
Dividends $24.8M
Buybacks β
Q3 '24
Dividends $26.9M
Buybacks β
Q4 '24
Dividends $28.4M
Buybacks β
Q1 '25
Dividends $29.5M
Buybacks β
Q2 '25
Dividends $30.5M
Buybacks β
Q3 '25
Dividends $31.5M
Buybacks β
Q4 '25
Dividends $33.7M
Buybacks β
Q1 '26
Dividends $35.3M
Buybacks β
Q2 '26
Dividends $36.0M
Buybacks β
Q3 '26
Dividends $37.3M
Buybacks β
Q4 '26
Dividends $38.5M
Buybacks β
Q1 '27
Dividends $39.6M
Buybacks β
Dividends
Buybacks
Diluted shares outstanding (annual)
FY10
Diluted shares β
FY11
Diluted shares β
FY12
Diluted shares β
FY13
Diluted shares β
FY21
Diluted shares β
FY22
Diluted shares 0.02B
FY23
Diluted shares 0.03B
FY24
Diluted shares 0.04B
FY25
Diluted shares 0.05B
FY26
Diluted shares 0.07B
Insider trades
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Financial health
Can it carry its debts, and how well does it use its money?
Balance sheet
KIRA Β· Capital Southwest Corp owes $1.1B more than it holds in cash.
Cash, debt and the ratios that show how comfortably Capital Southwest Corp can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
FY10
Cash $4.1M
Debt β
FY11
Cash $45.5M
Debt β
FY12
Cash $64.9M
Debt β
FY13
Cash $81.8M
Debt β
FY21
Cash $31.6M
Debt β
FY22
Cash $11.4M
Debt $529M
FY23
Cash $21.6M
Debt $638M
FY24
Cash $32.3M
Debt $771M
FY25
Cash $43.2M
Debt $956M
FY26
Cash $29.0M
Debt $1.1B
Cash
Debt
| Fiscal year end | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash and short-term investments | $11.4M | $21.6M | $32.3M | $43.2M | $29.0M |
| Debt incl. finance leases | $529M | $638M | $771M | $956M | $1.1B |
| Debt / equity | 1.3x | 1.1x | 1.0x | 1.1x | 1.1x |
| Total assets | $974M | $1.3B | $1.6B | $1.9B | $2.2B |
| Total liabilities | $553M | $667M | $801M | $999M | $1.2B |
| Shareholders' equity | $421M | $590M | $756M | $884M | $1.0B |
| Net debt (β = net cash) | $517M | $616M | $739M | $913M | $1.1B |
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
FY10
Return on capital β
Return on equity β
Return on assets β
FY11
Return on capital β
Return on equity β
Return on assets β
FY12
Return on capital β
Return on equity β
Return on assets β
FY13
Return on capital β
Return on equity β
Return on assets β
FY21
Return on capital β
Return on equity β
Return on assets β
FY22
Return on capital β
Return on equity 11.3%
Return on assets 4.4%
FY23
Return on capital β
Return on equity 6.5%
Return on assets 3.0%
FY24
Return on capital β
Return on equity 12.4%
Return on assets 5.9%
FY25
Return on capital β
Return on equity 8.6%
Return on assets 4.1%
FY26
Return on capital β
Return on equity 11.9%
Return on assets 5.6%
Return on capital
Return on equity
Return on assets
Piotroski F-score
KIRA Β· Capital Southwest Corp passes 2 of 7 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY10 | FY11 | FY12 | FY13 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β |
| F-score | β / 1 | β / 1 | β / 2 | β / 2 | β / 3 | 3 / 7 | 4 / 7 | 1 / 7 | 2 / 7 |
| Accruals ratio | β | β | β | β | 23.2% | 23.3% | 19.3% | 16.7% | 15.1% |
| Altman Z'' | β | β | β | β | β | β | β | β | β |
All figures
Every number, year by year.
10 years of figures
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY10 | FY11 | FY12 | FY13 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $6.1M | $7.6M | $9.3M | $10.8M | β | $82.2M | $119M | $178M | $204M | $232M |
| Interest expense | β | β | β | β | β | $19.9M | $28.9M | $43.1M | β | β |
| Income tax | $0.8M | $24.6M | $1.2M | $1.1M | β | $0.6M | $0.3M | $0.9M | $2.3M | $1.1M |
| Net income | β | β | β | β | β | $42.8M | $33.1M | $83.4M | $70.5M | $113M |
| Net income to common | β | β | β | β | β | β | $33.1M | $83.4M | $69.9M | $112M |
| Diluted EPS | β | β | β | β | β | $1.87 | $2.29 | $2.05 | $1.47 | $1.90 |
| Diluted shares | β | β | β | β | β | 0.02B | 0.03B | 0.04B | 0.05B | 0.07B |
| Cash flow | ||||||||||
| Cash from operations | β$6.8M | $68.2M | $23.5M | $94.3M | β | β$183M | β$227M | β$188M | β$217M | β$194M |
| Capital expenditure | β | β | β | β | β | $2.0M | $0.3M | $0.0M | $1.7M | $0.3M |
| Free cash flow | β | β | β | β | β | β$185M | β$227M | β$189M | β$219M | β$194M |
| Depreciation and amortization | $0.0M | $0.0M | $0.0M | $0.0M | β | $2.2M | $2.8M | $4.3M | $5.9M | $7.0M |
| Stock-based compensation | $0.7M | $1.0M | $1.1M | β | β | $3.6M | $3.7M | $4.5M | $7.0M | $5.0M |
| Dividends paid | β | $0.0M | $0.0M | $77.3M | β | $58.6M | $71.1M | $103M | $125M | $147M |
| Dividends and buybacks | β | $0.0M | $0.0M | $77.3M | β | $58.6M | $71.1M | $103M | $125M | $147M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $4.1M | $45.5M | $64.9M | $81.8M | $31.6M | $11.4M | $21.6M | $32.3M | $43.2M | $29.0M |
| Total debt | β | β | β | β | β | $529M | $638M | $771M | $956M | $1.1B |
| Total assets | β | $543M | $633M | $668M | β | $974M | $1.3B | $1.6B | $1.9B | $2.2B |
| Total liabilities | β | $4.0M | $4.3M | $7.9M | β | $553M | $667M | $801M | $999M | $1.2B |
| Shareholders' equity | β | β | $633M | $668M | $336M | $421M | $590M | $756M | $884M | $1.0B |
| Margins | ||||||||||
| Net margin | β | β | β | β | β | 52.1% | 27.7% | 46.8% | 34.5% | 48.7% |
| FCF margin | β | β | β | β | β | β224.6% | β190.6% | β105.8% | β107.1% | β83.5% |
| Returns | ||||||||||
| Return on equity | β | β | β | β | β | 11.3% | 6.5% | 12.4% | 8.6% | 11.9% |
| Return on assets | β | β | β | β | β | 4.4% | 3.0% | 5.9% | 4.1% | 5.6% |
| Return on tangible equity | β | β | β | β | β | 10.2% | 5.6% | 11.0% | 7.9% | 11.1% |
| Growth | ||||||||||
| Revenue growth | β | 23.9% | 23.3% | 16.1% | β | β | 45.1% | 49.3% | 14.8% | 13.5% |
| Net income growth | β | β | β | β | β | β | β22.7% | 152.0% | β15.4% | 60.2% |
| EPS growth | β | β | β | β | β | β | 22.5% | β10.5% | β28.3% | 29.3% |
| Share count change | β | β | β | β | β | β | 31.4% | 35.7% | 25.7% | 28.6% |
| Financial health | ||||||||||
| Debt / equity | β | β | β | β | β | 1.3x | 1.1x | 1.0x | 1.1x | 1.1x |
| Capital allocation | ||||||||||
| Capex / revenue | β | β | β | β | β | 2.4% | 0.2% | 0.0% | 0.8% | 0.1% |
| Stock comp / revenue | 11.0% | 12.6% | 11.2% | β | β | 4.4% | 3.1% | 2.5% | 3.4% | 2.1% |
| Quality scores | ||||||||||
| Piotroski F-score | β | β | β | β | β | β | 3.0 | 4.0 | 1.0 | 2.0 |
| Accruals ratio | β | β | β | β | β | 23.2% | 23.3% | 19.3% | 16.7% | 15.1% |
Source: SEC EDGAR XBRL filings (CIK 0000017313). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.