Q4 26 EPS
$0.59
BEAT +1.72%
Est. $0.58
Q4 26 Revenue
$57.8M
MISS 6.76%
Est. $62.0M
Full Year 2026 Results
FY 26 EPS
$2.39
FY 26 Revenue
$232.1M
Did CSWC Beat Earnings? Q4 2026 Results
Capital Southwest Corporation delivered steady Q4 fiscal 2026 results, posting earnings of $0.59 per share on total investment income of $57.77 million, as disciplined expense management helped offset a sequential decline in revenue from $61.45 milli… Read more Capital Southwest Corporation delivered steady Q4 fiscal 2026 results, posting earnings of $0.59 per share on total investment income of $57.77 million, as disciplined expense management helped offset a sequential decline in revenue from $61.45 million driven by lower arranger fees and base rate compression that pushed weighted average yields on debt investments down to 10.81% from 11.28%. Pre-tax net investment income rose modestly to $35.22 million from $34.63 million the prior quarter, reflecting a sharp drop in operating expenses to $5.26 million from $8.76 million on reduced bonus accruals. For the full fiscal year ended March 31, 2026, total investment income climbed 13.5% to $232.10 million, supported by a 17% expansion in the total investment portfolio to approximately $2.10 billion in fair value. NAV per share edged down to $16.69, while non-accruals held at a modest 1.1% of portfolio fair value. Looking ahead, the company declared a forward quarterly dividend of $0.64 per share and signaled confidence in its newly formed CapTrin Partners joint venture, which closed a $150 million credit facility with capacity to expand to $350 million.
Key Takeaways
- • Growth in average debt investments outstanding driving higher investment income
- • 99% first lien senior secured credit portfolio providing stable income
- • Weighted average yield on debt investments of 10.8%
- • Decline in operating leverage to 1.4% from 1.7% year-over-year
- • Lower base interest rates reducing weighted average interest rate on debt from 5.65% to 5.50%
- • Non-accruals at only 1.1% of total portfolio at fair value
- • Cumulative weighted average IRR of 12.8% on 113 portfolio exits since credit strategy launch
CSWC YoY Financials
Q4 2026 vs Q4 2025, source: SEC Filings
CSWC Revenue by Segment
With YoY comparisons, source: SEC Filings
“The March quarter was another strong quarter for Capital Southwest, with approximately $158 million of originations in five new and 12 existing portfolio companies. Our portfolio continued to generate significant income for our shareholders, producing $0.59 of pre-tax net investment income per share.”
— Michael Sarner, Q4 2026 Earnings Press Release
CSWC Earnings Trends
CSWC vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
CSWC EPS Trend
Earnings per share: estimate vs actual
CSWC Revenue Trend
Quarterly revenue: estimate vs actual
CSWC Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 27 | $0.55 | — | — | — | — |
| Q4 26 BEAT FY | $0.58 | $0.59 | +1.72% | $57.8M | -6.76% |
| FY Full Year | — | $2.39 | — | $232.1M | — |
| Q3 26 BEAT | $0.60 | $0.60 | +0.67% | $61.4M | +6.17% |
| Q2 26 MISS | $0.58 | $0.57 | -1.93% | $56.9M | +2.58% |
| Q1 26 BEAT | $0.59 | $0.59 | +0.77% | $55.9M | +2.99% |
| Q4 25 MISS FY | $0.61 | $0.56 | -8.20% | $52.4M | -0.58% |
| FY Full Year | $2.52 | $2.50 | -0.69% | $204.4M | -0.33% |