Palmer Square Capital BDC Inc. (PSBD) Income Statement
PSBD 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsPSBD revenue and net income
Where PSBD's revenue goes
2025Each bar shows an amount and its share of revenue. PSBD kept −2.9% of revenue as net income.
PSBD profit margins
PSBD growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +0.8% | — | +35.4% | — |
| Gross profit | +80.9% | — | +37.2% | — |
| Operating income | −1.6% | — | +8.3% | — |
| Net income | −106.6% | — | — | — |
| EPS (diluted) | −13.5% | — | −7.2% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
PSBD quarterly EPS vs estimates
Palmer Square Capital BDC beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 4, 2026 (estimate $0.38).
PSBD income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Revenue | $111.2M | $110.3M | $153.7M | $0 | $29.5M | $24.4M | $0 |
| Cost of revenue | $16.5M | $58.0M | $44.5M | $23.5M | $8.6M | $5.0M | $123,577 |
| Gross profit | $94.7M | $52.3M | $109.2M | −$72.8M | $20.9M | $19.5M | −$123,577 |
| Research & development | — | — | $1 | $1 | $0 | $1 | — |
| Sales, general & admin | $4.19B | $4.7M | $2.4M | $2.7M | $2.7M | — | — |
| Total operating expenses | $47.8M | $4.6M | $1.3M | $1.6M | $1.9M | −$12.0M | $3 |
| Operating income | $46.9M | $47.7M | $107.8M | −$74.5M | $19.1M | $31.5M | −$123,580 |
| Interest income | $119.9M | $138.6M | $107.7M | $73.7M | $38.9M | — | — |
| Interest expense | $50.06B | $58.0M | $44.5M | $23.5M | $8.6M | $4.7M | — |
| Income before taxes | −$3.2M | $47.7M | $107.8M | −$74.5M | $19.1M | $26.7M | −$123,577 |
| Income taxes | — | — | $152.3M | −$51.0M | $27.7M | $31.5M | −$123,580 |
| Net income | −$3.2M | $47.7M | $107.8M | −$74.5M | $19.1M | $26.7M | −$123,577 |
| EBITDA | $1.78B | $47.7M | $107.8M | −$74.5M | $19.1M | $31.5M | −$123,580 |
| EPS (diluted) | $1.67 | $1.93 | $1.38 | −$2.32 | $0.59 | $2.43 | −$0.01 |
| Gross margin | 85.1% | 47.4% | 71.1% | — | 70.8% | 79.7% | — |
| Operating margin | 42.2% | 43.2% | 70.2% | — | 64.5% | 128.7% | — |
| Net margin | −2.9% | 43.2% | 70.2% | — | 64.5% | 109.3% | — |
| 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 | $24.0M | $15.5M | $7.5M | $17.2M | $20.8M | $5.7M | $27.4M | $24.5M | $21.4M | $37.0M | $34.1M | $45.6M |
| Cost of revenue | $3.5M | $3.5M | $11.8M | $12.8M | $12.6M | $13.0M | $14.2M | $15.7M | $15.0M | $13.2M | $11.8M | $11.5M |
| Gross profit | $20.4M | $12.0M | −$4.3M | $4.4M | $8.3M | −$7.2M | $13.3M | $8.8M | $6.4M | $23.8M | $22.3M | $34.1M |
| Sales, general & admin | $1.07B | $1.05B | $1.0M | $1.1M | $1.1M | $1.2M | $1.4M | $1.3M | $1.1M | $997,404 | $675,544 | $546,235 |
| Total operating expenses | $1.3M | $38.7M | $1.0M | $1.1M | $1.1M | $1.2M | $1.4M | $1.3M | $1.1M | $946,893 | $394,035 | $271,515 |
| Operating income | $19.1M | −$26.7M | −$5.3M | $3.4M | $7.2M | −$8.4M | $11.9M | $7.6M | $5.3M | $22.9M | $22.0M | $33.9M |
| Interest income | $26.2M | $25.5M | $28.0M | $30.8M | $30.8M | $30.3M | $33.9M | $36.0M | $35.5M | $33.3M | $28.8M | $27.3M |
| Interest expense | $10.6M | $10.6M | $11.8M | $12.8M | $12.6M | $13.0M | $14.2M | $15.7M | $15.0M | $13.2M | $11.8M | $11.5M |
| Income before taxes | $8.5M | −$37.2M | −$5.3M | $3.4M | $7.2M | −$8.4M | $11.9M | $7.6M | $5.3M | $22.9M | $22.0M | $33.9M |
| Income taxes | — | — | — | — | — | — | — | — | — | −$43,276 | −$43,812 | −$11.5M |
| Net income | $8.5M | −$37.2M | −$5.3M | $3.4M | $7.2M | −$8.4M | $11.9M | $7.6M | $5.3M | $22.9M | $22.0M | $33.9M |
| EBITDA | $19.1M | −$26.7M | $438.8M | $3.4M | $7.2M | −$8.4M | $11.9M | $7.6M | $5.3M | $22.9M | $22.0M | $33.9M |
| EPS (diluted) | $0.39 | $0.35 | $0.41 | $0.43 | $0.43 | $0.40 | $0.45 | $0.48 | $0.48 | $0.52 | $0.81 | $0.57 |
| Gross margin | 85.2% | 77.4% | −57.8% | 25.8% | 39.6% | −126.1% | 48.4% | 36.0% | 29.9% | 64.4% | 65.5% | 74.8% |
| Operating margin | 79.7% | −171.5% | −71.2% | 19.5% | 34.4% | −146.3% | 43.4% | 30.9% | 24.8% | 61.8% | 64.3% | 74.2% |
| Net margin | 35.3% | −239.6% | −71.2% | 19.5% | 34.4% | −146.3% | 43.4% | 30.9% | 24.8% | 61.8% | 64.3% | 74.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in PSBD's financial statements (latest annual report filed February 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
PSBD financial results
In fiscal year 2025 (ended December 31, 2025), Palmer Square Capital BDC reported revenue of $111.2 million, up 0.8% from the year before. It had a net loss of $3.2 million, a net profit margin of −2.9%. Diluted earnings per share came to $1.67. Over five years revenue grew at an average rate of 35.4% a year.
See the PSBD stock overview for the latest quote and news, or the PSBD chart for price history and technical indicators.
PSBD income statement FAQ
What is Palmer Square Capital BDC's annual revenue?
Palmer Square Capital BDC reported total revenue of $111.2 million for fiscal year 2025, which ended on December 31, 2025. That was up 0.8% from $110.3 million the previous year.
Is Palmer Square Capital BDC profitable?
No. Palmer Square Capital BDC reported a net loss of $3.2 million in fiscal 2025, a net profit margin of −2.9%; its operating margin was 42.2%.
What is Palmer Square Capital BDC's gross margin?
Palmer Square Capital BDC's gross margin was 85.1% in fiscal 2025: for every $100 of revenue, Palmer Square Capital BDC kept $85 after the direct cost of its products and services.
How fast is Palmer Square Capital BDC growing?
Revenue grew 35.4% a year on average over the last five fiscal years, from $24.4 million to $111.2 million.
What are Palmer Square Capital BDC's earnings per share?
Palmer Square Capital BDC earned $1.67 per diluted share in fiscal 2025, compared with $1.93 a year earlier.
When will Palmer Square Capital BDC report its next earnings?
Palmer Square Capital BDC is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 before the market opens.
When does Palmer Square Capital BDC's fiscal year end?
Palmer Square Capital BDC's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 26, 2026.