Capital Southwest Corporation (CSWC) Stock Analysis
Financial Services · Asset Management · NasdaqGS
Capital Southwest Corporation (CSWC) posted $151.34M in revenue for fiscal 2026 (up 39.0% year over year), at a 74.7% net margin, per its SEC filings.
Data last refreshed September 3, 2026 from SEC filings · how we compute this
The analyst's take on Capital Southwest Corporation
Capital Southwest Corporation has grown revenue from $6.11M to $151.34M over the last 10 fiscal years. The most recent year was up 39%.
Net margin sits at 74.7%, up 9.9 points year over year. It carries about $1.13B of total debt.
It clears 4 of 8 deterministic health checks. The one thing worth a second look in the filings is share count rising (dilution).
Synthesised from Capital Southwest Corporation's SEC filings — descriptive, not advice. Ask the analyst your own question →
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Capital Southwest Corporation revenue & earnings — last 10 fiscal years
| Metric | 2010 | 2011 | 2012 | 2013 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6.11M | $7.57M | $9.33M | $10.84M | — | — | $61.45M | $109.06M | $108.85M | $151.34M |
| Gross profit | — | — | — | — | — | — | — | — | — | — |
| Net income | — | — | — | — | $50.88M | $42.81M | $33.09M | $83.39M | $70.55M | $113.00M |
| Net margin | — | — | — | — | — | — | 53.9% | 76.5% | 64.8% | 74.7% |
Source: Capital Southwest Corporation SEC filings (10-K).
Capital Southwest Corporation financial health: 4 of 8 checks passed
- ✓Revenue CAGR over 9 yrs (42.9%/yr)
- ✓Profitable every year (last 5)
- ✓Net margin above 10% (74.7%)
- ✗More cash than total debt (cash 29M vs debt 1131.2M)
- ✗Positive operating cash flow (last 5 yrs)
- ✗Free cash flow positive (latest yr) (-193.8M)
- ✗Share count falling over 5 yrs (buybacks) (21M → 60.6M shares)
- ✓Pays a dividend (7 consecutive yrs in our data)
Checks computed deterministically from filed annual statements — no AI judgement.
Capital Southwest Corporation: 2 potential red flags in the filings
Patterns in the filed statements worth a second look — computed and cited, not AI guesswork, and not a signal to sell. The kind of thing that hides in a 10-K.
- Share count rising (dilution)Shares outstanding grew 142.7% over 4 years (25M → 60.6M) — existing holders' stakes are being diluted.
- Debt with negative operating cash flowCarries $1131.2M of debt while last year's operating cash flow was negative ($-193.5M).
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Capital Southwest Corporation financial history
About Capital Southwest Corporation
Capital Southwest Corporation is a business development company. The firm specializes in credit and private equity and venture capital investments in lower middle market companies, mezzanine, later stage, mature, late venture, emerging growth, buyouts, industry consolidation, recapitalizations and growth capital investments. The firm does not invest in startups, publicly traded companies, real estate developments, project finance opportunities, oil and gas exploration businesses, troubled companies, turnarounds, and companies in which significant senior management is departing. In lower middle market, the firm typically invests in growth financing, bolt-on acquisitions, new platform acquisitions, refinancing, dividend recapitalizations, sponsor-led buyouts, and management buyout situations. The investment structures are unitranche debt, subordinated debt, senior debt, first and second lien debt, and preferred and common equity. The firm makes equity co-investments alongside debt investments, up to 20 percent of total check and only makes non-control investments. The firm is industry agnostic, but it prefers to invest in industrial manufacturing and services, value-added distribution, healthcare products and services, business services, specialty chemicals, food and beverage, tech-enabled services and SaaS models. The firm seeks to invest in energy services and products, industrial technologies, and specialty chemicals and products. Within energy services and products, the firm seeks to invest in each segment of the industry, including upstream, midstream and downstream, excluding exploration and production, with a focus on differentiated products and services, equipment and tool rental, consumable products, and drilling and completion chemicals. Within industrial technologies, it seeks to invest in automation and process controls, handling and packaging equipment, industrial filtration and fluid handling, measurement, monitoring and testing, professional tools, and sensors and instrumentation. Within specialty chemicals and products, the firm seeks to invest in businesses that develop and manufacture highly differentiated chemicals and products including adhesives, coatings and sealants, catalysts and absorbents, cosmeceuticals, fine chemicals, flavors and fragrances, performance lubricants, polymers, plastics and composites, chemical dispensing and filtration equipment, professional and industrial trade consumables and tools, engineered solutions for HVAC, plumbing, and electrical installations, specified high performance materials for fire protection and oilfield applications. It may also invest in exceptional opportunities in building products. The firm seeks to invest in the United States and North America. The firm seeks to make investments ranging from $5 million to $25 million in securities. Its typical financing size is between $5 million and $75 million, target hold size is between $5 million and $45 million, and the firm is willing to backstop up to $55 million with an active network of co-investors. It seeks to invest in firms with minimum EBITDA between $3 million and $25 million. In addition to making direct investments, the firm allocates capital to syndicated first and second lien term loans in the upper middle market. It prefers to take a majority or minority stake. The firm has the flexibility to hold investments for very long periods in its portfolio companies. It may also invest through warrants. The firm prefers to take board participation in its portfolio companies. Capital Southwest Corporation was founded on April 19, 1961 and is based in Dallas, Texas.
Capital Southwest Corporation — frequently asked questions
What is Capital Southwest Corporation's revenue?
Capital Southwest Corporation (CSWC) reported revenue of $151.34M for fiscal year 2026, up 39.0% from the prior year, according to its SEC filings.
Is Capital Southwest Corporation profitable?
Yes. CSWC earned net income of $113.00M in fiscal 2026, a net margin of 74.7%.
What is CSWC's P/E ratio?
Capital Southwest Corporation trades at a price-to-earnings ratio of about 12.4 based on the latest data in our nightly-refreshed cache.
Does Capital Southwest Corporation pay a dividend?
Yes, CSWC pays a dividend — the yield is about 10.86%.
How much debt does Capital Southwest Corporation have?
As of fiscal year 2026, CSWC carried roughly $1.13B in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Capital Southwest Corporation's market cap?
Capital Southwest Corporation (CSWC) has a market capitalization of about $1.46B, based on the latest data in our nightly-refreshed cache.
When does Capital Southwest Corporation's fiscal year end?
CSWC's fiscal year ends in March. Its most recent annual filing covers the fiscal year ending 2026-03-31.
Where does this data come from?
All figures are computed from Capital Southwest Corporation's official SEC filings (10-K and 10-Q), covering 10 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.