Stellus Capital Investment Corporation (SCM) Cash Flow Statement
Where SCM’s cash came from and went, 2025
December 31, 2025 · U.S. dollars- Cash from operations
- −$24.4M
- Capital expenditures
- $0 0.0% of revenue
- Free cash flow
- −$24.4M −36.5% margin
- Returned to shareholders
- $45.6M
- Change in cash
- $5.0M cash at year-end $25.1M
Drawn to scale: where the cash came from and how it was used. Hover for values.
SCM operating cash flow, capex and free cash flow
SCM cash flow trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Operating cash flow | $8.8M2016 | −$24.4M2025 | — | |
| Capital expenditures | $02016 | $02025 | — | |
| Free cash flow | $8.8M2016 | −$24.4M2025 | — | |
| Free cash flow margin | 33.4%2016 | −36.5%2025 | −69.9 pts | |
| Operating cash flow / net income | 0.382016 | −0.902025 | −1.28 | |
| Stock-based compensation | $20.11T2016 | $5.39B2023 | −69.1%/yr | |
| Dividends paid | $17.0M2016 | $45.3M2025 | +11.5%/yr | |
| Share buybacks (net) | $312016 | $308,9982025 | +178.2%/yr | |
| Capex / revenue | 0.0%2016 | 0.0%2025 | 0.0 pts |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
SCM cash flow by activity
SCM net income vs operating cash flow
Operating cash flow above net income usually means earnings are backed by cash (depreciation and stock-based pay are non-cash expenses).
SCM cash flow statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||
| Net income | $27.0M | $45.8M | $17.5M | $14.5M | $33.6M | $20.2M | $26.4M | $26.2M | $22.6M | $23.2M |
| Depreciation & amortization | $8.22B | — | −$5.54B | $15.02T | $4.52B | −$10.65B | $13.73T | $1.4M | $1.0M | $1.3M |
| Stock-based compensation | — | — | $5.39B | — | −$4.00B | $10.43B | −$13.79T | −$93.35B | $1.17T | $20.11T |
| Change in working capital | −$901,586 | $2.3M | −$8.5M | $229,975 | $8.0M | −$1.0M | $3.2M | $2.6M | $1.0M | $1.3M |
| Other non-cash items | −$8.27B | −$76.8M | $126.7M | −$15.02T | −$628.6M | $202.2M | $66.64B | $93.21B | −$1.17T | −$20.11T |
| Cash from operating activities | −$24.4M | −$28.6M | −$17.3M | −$56.3M | −$76.1M | −$3.5M | −$93.3M | −$102.4M | $18.9M | $8.8M |
| Investing activities | ||||||||||
| Capital expenditures | $0 | $0 | −$1 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Acquisitions & other investing | −$54.42B | — | — | — | — | — | — | — | — | — |
| Cash from investing activities | −$54.42B | — | — | — | — | — | — | — | — | — |
| Financing activities | ||||||||||
| Dividends paid | −$45.3M | −$37.6M | −$35.5M | −$26.6M | −$21.0M | −$24.3M | −$24.7M | −$21.6M | −$19.9M | −$17.0M |
| Share repurchases & issuance (net) | −$308,998 | $45.4M | −$943,248 | $1.6M | $436.6M | −$94 | $255.5M | −$1,051 | −$142 | −$31 |
| Net borrowing (repayment) | $59.2M | $15.5M | −$28.3M | $86.9M | $128.0M | $27.9M | $73.0M | $118.8M | −$26.4M | $6.5M |
| Shares issued | $20.6M | $46.5M | $63.3M | $2.2M | $449,515 | $4.8M | $45.9M | $0 | $0 | $0 |
| Other financing | −$4.8M | −$47.2M | −$3.2M | −$3.9M | −$442.2M | −$2.6M | −$257.8M | −$2.4M | $43.4M | −$50,000 |
| Cash from financing activities | $29.4M | $22.6M | −$4.7M | $60.2M | $101.8M | $5.8M | $92.0M | $94.8M | −$2.9M | −$10.5M |
| Summary | ||||||||||
| Net change in cash | $5.0M | −$6.1M | −$21.9M | $3.9M | $25.7M | $2.3M | −$1.3M | −$7.6M | $15.9M | −$1.7M |
| Cash at end of period | $25.1M | $20.1M | $26.1M | $48.0M | $44.2M | $18.5M | $16.1M | $17.5M | $25.1M | $9.2M |
| Free cash flow | −$24.4M | −$28.6M | −$17.3M | −$56.3M | −$76.1M | −$3.5M | −$93.3M | −$102.4M | $18.9M | $8.8M |
| Free cash flow margin | −36.5% | −34.6% | −32.4% | −123.9% | −178.4% | −13.5% | −294.4% | −329.8% | 69.2% | 33.4% |
| Capex / revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Operating cash flow / net income | −0.90 | −0.62 | −0.98 | −3.88 | −2.27 | −0.17 | −3.53 | −3.91 | 0.83 | 0.38 |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating activities | ||||||||||||
| Net income | −$1.05T | $1.7M | $5.2M | $6.7M | $10.1M | $5.0M | $8.7M | $15.5M | $8.5M | $13.1M | $11.5M | −$2.4M |
| Depreciation & amortization | $580,723 | $5.83T | $1.87T | $336.13B | −$1.48T | −$724.07B | — | −$4.54T | $279.67B | −$24.22T | −$441.80B | $147.01B |
| Stock-based compensation | — | — | — | — | — | — | — | — | — | — | — | −$312 |
| Change in working capital | −$3.1M | $3.1M | $636,334 | −$3.2M | $6.8M | −$5.2M | $3.5M | $4.8M | $1.7M | −$7.6M | $439,158 | −$3.2M |
| Other non-cash items | $57.23T | −$5.83T | −$1.87T | −$336.15B | $1.48T | $724.04B | −$43.9M | $4.54T | −$279.70B | $24.22T | $441.81B | −$147.02B |
| Cash from operating activities | $56.17T | $22.8M | $9.0M | −$20.2M | $23.7M | −$36.9M | −$31.8M | $11.8M | −$13.1M | $4.5M | $25.2M | −$10.5M |
| Investing activities | ||||||||||||
| Capital expenditures | $0 | $0 | $0 | −$3 | −$4 | $0 | $0 | −$5 | −$5 | $0 | $0 | $0 |
| Acquisitions & other investing | $45.21T | $14.05T | $128.31T | −$24.8M | $8.8M | — | — | — | — | — | — | — |
| Cash from investing activities | $45.21T | $14.05T | $128.31T | −$24.8M | $8.8M | — | — | — | — | — | — | — |
| Financing activities | ||||||||||||
| Dividends paid | −$10.4M | −$10.4M | −$11.6M | −$11.4M | −$11.3M | −$11.0M | −$10.8M | −$10.5M | −$9.8M | −$6.4M | −$12.9M | −$9.1M |
| Share repurchases & issuance (net) | −$2.44T | — | $19.7M | −$111,534 | −$58,556 | $8.9M | $45.4M | $386,987 | −$386,987 | — | −$77.2M | $53.7M |
| Net borrowing (repayment) | −$19.3M | −$33.9M | $18.2M | −$4.3M | $15.5M | $29.8M | $18.8M | −$12.8M | — | — | — | $2.7M |
| Shares issued | $0 | $0 | $0 | $7.4M | $3.9M | $9.3M | $6.1M | $14.6M | $25.8M | $0 | $0 | $21.9M |
| Other financing | −$76.16T | −$125,000 | −$19.3M | −$2.4M | −$2.6M | −$9.3M | −$46.2M | −$751,202 | −$15.4M | $24.6M | $71.8M | −$54.4M |
| Cash from financing activities | −$78.60T | −$44.5M | $7.0M | −$10.7M | $5.4M | $27.8M | $13.2M | −$9.0M | $210,364 | $18.2M | −$18.3M | $14.8M |
| Summary | ||||||||||||
| Net change in cash | $22.79T | −$21.7M | $16.0M | −$31.0M | $29.1M | −$9.2M | −$18.5M | $2.7M | −$12.9M | $22.6M | $6.9M | $4.3M |
| Cash at end of period | $22.79T | $3.4M | $25.1M | $9.0M | $40.0M | $10.9M | $20.1M | $38.6M | $35.9M | $48.8M | $26.1M | $19.2M |
| Free cash flow | $56.17T | $22.8M | $9.0M | −$20.2M | $23.7M | −$36.9M | −$31.8M | $11.8M | −$13.1M | $4.5M | $25.2M | −$10.5M |
| Free cash flow margin | 251,871,795.7% | 94.8% | 57.5% | −116.1% | 119.3% | −264.4% | −174.5% | 44.3% | −78.9% | 19.6% | 140.5% | −143.3% |
| Capex / revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Operating cash flow / net income | — | 13.77 | 1.73 | −3.02 | 2.33 | −7.39 | −3.65 | 0.76 | −1.53 | 0.34 | 2.19 | — |
Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported; data from EODHD.
SCM cash generation
In fiscal 2025 (ended December 31, 2025), Stellus Capital Investment generated -$24.4 million of cash from operations and spent $0 on capital expenditures, leaving free cash flow of -$24.4 million, −36.5% of revenue. It returned $45.6 million to shareholders through dividends ($45.3 million) and net share buybacks ($0.3 million). Cash and equivalents rose by $5.0 million over the year.
Related: SCM income statement, SCM balance sheet, SCM dividend history. See the SCM stock overview for the latest quote and news.
SCM cash flow FAQ
What is Stellus Capital Investment's free cash flow?
Stellus Capital Investment's free cash flow was -$24.4 million in fiscal 2025: -$24.4 million of operating cash flow minus $0 of capital expenditures It was -$28.6 million a year earlier..
How much cash does Stellus Capital Investment generate from operations?
Stellus Capital Investment generated -$24.4 million of cash from operating activities in fiscal 2025, −0.90 times its net income of $27.0 million.
How much stock does Stellus Capital Investment buy back?
Stellus Capital Investment spent $0.3 million on net share repurchases in fiscal 2025.
How much does Stellus Capital Investment pay in dividends?
Stellus Capital Investment paid $45.3 million in dividends in fiscal 2025.