Capital Southwest Corporation (CSWC) Income Statement
CSWC FY2026 at a glance
Fiscal year ended March 31, 2026 · U.S. dollarsCSWC revenue and net income
Where CSWC's revenue goes
FY2026Each bar shows an amount and its share of revenue. CSWC kept 45.9% of revenue as net income.
CSWC profit margins
CSWC growth rates
to FY2026| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +50.1% | +39.6% | +27.6% | +32.7% |
| Gross profit | +113.1% | +55.7% | +26.2% | +31.9% |
| Operating income | +138.1% | +67.7% | +27.8% | — |
| Net income | +60.2% | +50.6% | +17.3% | — |
| EPS (diluted) | −3.7% | +1.3% | +7.3% | +24.3% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
CSWC quarterly EPS vs estimates
Capital Southwest beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 2, 2026 (estimate $0.56).
CSWC income statement
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $245.9M | $163.8M | $152.1M | $90.3M | $102.9M | $72.6M | $15.6M | $61.1M | $53.2M | $39.4M |
| Cost of revenue | $13.9M | $55.0M | $43.1M | $28.9M | $19.9M | $2.0M | $15.8M | $12.2M | $927,000 | $989,000 |
| Gross profit | $232.0M | $108.9M | $109.1M | $61.5M | $83.0M | $72.6M | −$236,000 | $48.9M | $52.3M | $38.4M |
| Research & development | — | — | $1 | $0 | $1 | $1 | $0 | $0 | — | $1 |
| Sales, general & admin | $23.9M | $10.9M | $24.1M | $7.8M | $6.6M | $5.3M | $5.7M | $4.8M | $4.4M | $4.4M |
| Total operating expenses | $42.9M | $29.4M | $24.5M | $21.4M | $36.2M | $17.0M | $15.9M | $14.9M | $13.8M | $12.8M |
| Operating income | $189.1M | $79.4M | $84.6M | $40.1M | $46.8M | $55.6M | −$16.1M | $33.9M | $44.2M | $25.6M |
| Interest income | $206.4M | $186.9M | $160.7M | $105.1M | $68.5M | $56.3M | $47.0M | $37.3M | $21.9M | $166,000 |
| Interest expense | $66.6M | $55.0M | $43.1M | $28.9M | $19.9M | $17.9M | $15.8M | $12.2M | $4.9M | $989,000 |
| Income before taxes | $120.3M | $79.4M | $84.6M | $40.1M | $46.8M | $55.6M | −$16.1M | $33.9M | $39.4M | $25.6M |
| Income taxes | $7.3M | $8.9M | $1.2M | $7.0M | $4.0M | $4.7M | $6.2M | $870,000 | $62,000 | $2.1M |
| Net income | $113.0M | $70.5M | $83.4M | $33.1M | $42.8M | $50.9M | −$22.4M | $33.1M | $39.3M | $23.5M |
| EBITDA | $193.9M | $85.3M | $88.9M | $42.8M | $49.1M | $57.5M | −$13.7M | $35.3M | $45.2M | $26.0M |
| EPS (diluted) | $2.37 | $2.46 | $2.70 | $2.28 | $1.87 | $1.67 | $1.58 | $1.42 | $1.01 | $1.47 |
| Gross margin | 94.3% | 66.4% | 71.7% | 68.0% | 80.6% | 100.0% | −1.5% | 80.1% | 98.3% | 97.5% |
| Operating margin | 76.9% | 48.5% | 55.6% | 44.4% | 45.5% | 76.6% | −103.5% | 55.6% | 83.2% | 64.9% |
| Net margin | 45.9% | 43.1% | 54.8% | 36.6% | 41.6% | 70.1% | −143.3% | 54.1% | 73.9% | 59.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $61.4M | $54.0M | $61.9M | $52.4M | $53.7M | $46.0M | $41.3M | $40.2M | $36.3M | $41.3M | $40.2M | $36.3M |
| Cost of revenue | $3.6M | $0 | $18.1M | $16.0M | $15.3M | $15.2M | $14.7M | $12.6M | $12.4M | $14.7M | $12.6M | $12.4M |
| Gross profit | $57.9M | $54.0M | $43.9M | $36.4M | $38.4M | $30.8M | $26.6M | $27.6M | $23.8M | $26.6M | $27.6M | $23.8M |
| Sales, general & admin | $2.0M | $15.1M | $2.9M | $3.0M | $2.9M | $8.7M | $5.0M | $6.1M | $7.6M | $2.6M | $2.6M | $2.9M |
| Total operating expenses | $14.2M | $9.3M | $10.9M | $6.9M | $8.0M | $8.7M | $7.0M | $6.1M | $7.6M | $7.0M | $6.1M | $7.6M |
| Operating income | $43.6M | $44.7M | $33.0M | $29.5M | $30.5M | $22.1M | $19.6M | $21.5M | $16.2M | $19.6M | $21.5M | $16.2M |
| Interest income | $55.4M | $51.6M | $53.4M | $51.1M | $50.4M | $48.6M | $46.1M | $46.1M | $46.0M | $42.9M | $41.9M | $39.5M |
| Interest expense | $18.5M | $17.3M | $18.1M | $16.0M | $15.3M | $15.2M | $14.7M | $12.6M | $12.4M | $14.7M | $12.6M | $12.4M |
| Income before taxes | $25.1M | $27.4M | $33.0M | $29.5M | $30.5M | $22.1M | $19.6M | $21.5M | $16.2M | $19.6M | $21.5M | $16.2M |
| Income taxes | $379,000 | −$102,000 | $71,000 | $3.9M | $3.5M | $4.5M | $3.4M | −$1.2M | $2.2M | $3.4M | −$1.2M | $2.2M |
| Net income | $24.7M | $27.5M | $32.9M | $25.6M | $27.0M | $17.6M | $16.3M | $22.7M | $14.0M | $16.3M | $22.7M | $14.0M |
| EBITDA | $45.4M | $46.4M | $34.7M | $31.2M | $32.2M | $23.7M | $21.2M | $22.8M | $17.5M | $20.8M | $22.7M | $17.3M |
| EPS (diluted) | $0.58 | $0.57 | $0.64 | $0.57 | $0.59 | $0.54 | $0.63 | $0.66 | $0.63 | $0.66 | $0.70 | $0.69 |
| Gross margin | 94.1% | 100.0% | 70.9% | 69.4% | 71.6% | 67.0% | 64.4% | 68.7% | 65.7% | 64.4% | 68.7% | 65.7% |
| Operating margin | 71.0% | 82.7% | 53.2% | 56.2% | 56.7% | 47.9% | 47.5% | 53.5% | 44.6% | 47.5% | 53.5% | 44.6% |
| Net margin | 40.2% | 50.9% | 53.1% | 48.9% | 50.3% | 38.2% | 39.4% | 56.4% | 38.7% | 39.4% | 56.4% | 38.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in CSWC's financial statements (latest annual report filed May 19, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
CSWC financial results
In fiscal year 2026 (ended March 31, 2026), Capital Southwest reported revenue of $245.9 million, up 50.1% from the year before. It had net income of $113.0 million (up 60.2%), a net profit margin of 45.9%. Diluted earnings per share came to $2.37. Over five years revenue grew at an average rate of 27.6% a year.
See the CSWC stock overview for the latest quote and news, or the CSWC chart for price history and technical indicators.
CSWC income statement FAQ
What is Capital Southwest's annual revenue?
Capital Southwest reported total revenue of $245.9 million for fiscal year 2026, which ended on March 31, 2026. That was up 50.1% from $163.8 million the previous year.
Is Capital Southwest profitable?
Yes. Capital Southwest reported net income of $113.0 million in fiscal 2026, a net profit margin of 45.9%; its operating margin was 76.9%.
What is Capital Southwest's gross margin?
Capital Southwest's gross margin was 94.3% in fiscal 2026: for every $100 of revenue, Capital Southwest kept $94 after the direct cost of its products and services.
How fast is Capital Southwest growing?
Revenue grew 27.6% a year on average over the last five fiscal years, from $72.6 million to $245.9 million.
What are Capital Southwest's earnings per share?
Capital Southwest earned $2.37 per diluted share in fiscal 2026, compared with $2.46 a year earlier.
When will Capital Southwest report its next earnings?
Capital Southwest is expected to report results for the quarter ending September 30, 2026 on November 2, 2026 after the market closes.
When does Capital Southwest's fiscal year end?
Capital Southwest's fiscal year ends in March. The latest annual report covers the year ended March 31, 2026 and was filed on May 19, 2026.