Capital Southwest
Provides flexible capital across the lower-middle-market capital structure.
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Profile
Provides flexible capital to lower-middle-market companies across the capital structure. The internally managed BDC has focused on credit investing since the 2015 separation of CSW Industrials.
Flexible capital for lower-middle-market companies is provided across the capital structure through an internally managed, credit-focused business development company. The model centers on financing portfolio-company growth over long periods using a public-company capital base.
Based in Dallas, the company is focused on lower-middle-market credit investing. Its current structure dates to the 2015 distribution of CSW Industrials, which left CSWC as the credit-focused listed vehicle; it elected BDC treatment in 1988. Michael S. Sarner has been president and chief executive officer since 2025. Internally managed BDC status and a focus on flexible capital across the capital structure shape the business.
Company facts
Categories
Key statistics
Year to date +14.2% · Average volume (30d) 620.6K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Target |
|---|---|---|---|---|---|
| Nov 5, 2025 | Loop Capital Markets | Target | $23 | ||
| Nov 4, 2025 | Capital One Financial | Target | $22 | ||
| Oct 14, 2025 | UBS | Reiterate | Neutral | $21.50 | |
| Jun 24, 2025 | JMP Securities | Upgrade | Market Perform | Market Outperform |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 3, 2026Q1 FY27 | $0.56 | $0.58 | +3.4% | $61.2M | $61.0M | −0.3% | +3.26% |
| May 13, 2026Q4 FY26 | $0.56 | $0.57 | +1.8% | $61.8M | $57.8M | −6.5% | +2.43% |
| Feb 2, 2026Q3 FY26 | $0.59 | $0.64 | +9.0% | $58.1M | $61.4M | +5.7% | +0.56% |
| Nov 3, 2025Q2 FY26 | $0.58 | $0.57 | −1.7% | $57.3M | $52.4M | −8.6% | −2.25% |
Financial highlights
| 12 quarters | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|
| Revenue | $46.0M | $53.7M | $52.4M | $61.9M | $54.0M | $61.4M | |
| Gross profit | $30.8M | $38.4M | $36.4M | $43.9M | $54.0M | $57.9M | |
| Operating income | $22.1M | $30.5M | $29.5M | $33.0M | $44.7M | $43.6M | |
| Net income | $17.6M | $27.0M | $25.6M | $32.9M | $27.5M | $24.7M | |
| Diluted EPS | $0.33 | $0.48 | $0.44 | $0.54 | $0.44 | $0.39 | |
| Gross margin | 67.0% | 71.6% | 69.4% | 70.9% | 100.0% | 94.1% | |
| Operating margin | 47.9% | 56.7% | 56.2% | 53.2% | 82.7% | 71.0% |
Fiscal years (4-quarter sums)FY22 $102.9M · FY23 $90.3M · FY24 $157.8M · FY25 $163.8M · FY26 $222.0M
Balance sheet, Jun 30, 2026Cash & short-term investments $58.5M · Total debt $483.9M · Total assets $2.32B · Shareholders' equity $1.06B
Dividends
Last cut to $0.1934 from $0.50 in Jul 2025. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 14, 2026 | Aug 14 | Aug 31 | $0.1934 | |
| Jul 15, 2026 | Jul 15 | Jul 31 | $0.1934 | |
| Jun 15, 2026 | Jun 15 | Jun 30 | $0.2534 | special dividend |
| May 15, 2026 | May 15 | May 29 | $0.1934 | |
| Apr 15, 2026 | Apr 15 | Apr 30 | $0.1934 | |
| Mar 13, 2026 | Mar 13 | Mar 31 | $0.2534 | special dividend |
| Feb 13, 2026 | Feb 13 | Feb 27 | $0.1934 | |
| Jan 15, 2026 | Jan 15 | Jan 30 | $0.1934 |
Ownership
Shares outstanding 62.14M · Float 60.19M · 96.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Van Eck Associates Corp | 1.53M | 2.46% | 13F | Aug 14, 2026 |
| UBS Group AG | 1.22M | 1.96% | 13F | Aug 13, 2026 |
| Two Sigma Investments, LP | 1.18M | 1.90% | 13F | Aug 14, 2026 |
| Sound Income Strategies, LLC | 934.3K | 1.50% | 13F | Jul 20, 2026 |
| Sanders Morris Harris LLC | 760.0K | 1.22% | 13F | Jul 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 30, 2026 | Ramona Lynn Rogers-Windsor | director | +211 | $23.70 |
| Jun 17, 2026 | Christine Battist | director | +860 | $23.23 |
| Jun 5, 2026 | William R. III Thomas | director | −4,661 | $23.29 |
| Jun 5, 2026 | William R. III Thomas | director | +5,000 | $23.40 |
| Jun 1, 2026 | Ramona Lynn Rogers-Windsor | director | +213 | $23.42 |
Peers
- Main Street Capital
Lower-middle-market debt and equity capital provider
- Ares Capital
Large public BDC serving U.S. middle-market borrowers
- Golub Capital BDC
Middle-market BDC concentrated in one-stop lending
- New Mountain Finance
Middle-market BDC with a $2.6 billion portfolio
- Blue Owl Capital
Large BDC focused on U.S. middle-market lending
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Capital Southwest | $25.38 | −0.33% | $1.58B | 14.1 | 10.9 | 6.9 | −21.6% |
| Main Street Capital | $58.45 | −0.18% | $5.44B | 11.8 | 15.4 | 7.8 | −26.1% |
| Ares Capital | $19.97 | +0.15% | $14.32B | 14.8 | 10.3 | 6.2 | +32.6% |
| Golub Capital BDC | $13.03 | +0.04% | $3.39B | 23.7 | 10.1 | 4.7 | −14.2% |
| New Mountain Finance | $7.54 | −0.13% | $712.2M | — | 7.3 | 4.2 | −36.5% |
| Blue Owl Capital | $11.37 | +0.64% | $5.61B | 20.2 | 8.8 | 4.0 | −20.8% |
| Median | 17.5 | 10.1 | 4.7 | −20.8% |