Capital Southwest Corporation (CSWC) Key Metrics
CSWC valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.47B
- Enterprise value
- $2.64B
- P/E (TTM)
- 12.8 10-yr median 12.2
- Forward P/E
- 11.4
- PEG ratio
- 12.54
- Price / sales
- 6.2 10-yr median 5.9
- Price / book
- 1.4 10-yr median 1.2
- EV / EBITDA
- — 10-yr median 15.8
- Dividend yield
- 13.17% $3.04 a year
- Beta
- 0.75
CSWC key metrics, FY2017–FY2026
Fiscal year ended March 31, 2026 · U.S. dollarsCSWC valuation Price multiples at each fiscal year-end price.
CSWC returns How much profit the business earns on the capital it uses.
CSWC per-share figures Results divided by the shares outstanding at year-end.
CSWC financial health Debt, liquidity and how easily interest is covered.
CSWC efficiency & capital use Working capital cycle and where the cash goes.
CSWC valuation history
CSWC returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
CSWC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
CSWC cash returned to shareholders
CSWC price vs earnings per share
CSWC key metrics
FY2017–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $1.46B | $1.14B | $1.02B | $533.7M | $542.0M | $422.4M | $205.6M | $352.1M | $274.7M | $268.5M |
| Enterprise value | $2.56B | $2.06B | $1.76B | $1.15B | $1.06B | $772.1M | $511.3M | $558.3M | $367.6M | $271.1M |
| P/E ratio | 12.9 | 16.2 | 12.2 | 16.1 | 12.7 | 8.3 | — | 10.7 | 7.0 | 11.4 |
| Price / sales | 5.9 | 7.0 | 6.7 | 5.9 | 5.3 | 5.8 | 13.2 | 5.8 | 5.2 | 6.8 |
| Price / book | 1.4 | 1.3 | 1.3 | 0.9 | 1.3 | 1.3 | 0.7 | 1.1 | 0.9 | 0.9 |
| EV / sales | 10.4 | 12.5 | 11.5 | 12.7 | 10.3 | 10.6 | 32.8 | 9.1 | 6.9 | 6.9 |
| EV / EBITDA | 13.2 | 24.1 | 19.7 | 26.9 | 21.6 | 13.4 | — | 15.8 | 8.1 | 10.4 |
| Earnings yield | 7.8% | 6.2% | 8.2% | 6.2% | 7.9% | 12.0% | −10.9% | 9.4% | 14.3% | 8.7% |
| Free cash flow yield | −13.3% | −19.2% | −18.5% | −42.6% | −34.1% | −16.2% | −23.3% | −26.9% | −23.3% | −33.4% |
| Dividend yield | 10.1% | 11.0% | 10.1% | 13.3% | 10.8% | 9.5% | 24.5% | 12.1% | 6.8% | 2.2% |
| Shareholder yield (dividends + buybacks) | 10.1% | 11.0% | 10.2% | 13.3% | 11.1% | 9.5% | 29.0% | 12.1% | 7.0% | 2.2% |
| Share price at fiscal year-end | $22.12 | $22.32 | $24.96 | $17.78 | $23.73 | $22.16 | $11.42 | $21.04 | $17.02 | $16.91 |
| Per share | ||||||||||
| Revenue per share | $3.74 | $3.20 | $3.74 | $3.01 | $4.51 | $3.81 | $0.87 | $3.65 | $3.30 | $2.48 |
| Earnings per share | $1.72 | $1.38 | $2.05 | $1.10 | $1.87 | $2.67 | −$1.24 | $1.98 | $2.44 | $1.48 |
| Operating cash flow per share | −$2.94 | −$4.24 | −$4.63 | −$7.57 | −$8.00 | −$3.58 | −$2.66 | −$5.66 | −$3.96 | −$5.64 |
| Free cash flow per share | −$2.94 | −$4.28 | −$4.63 | −$7.58 | −$8.09 | −$3.58 | −$2.66 | −$5.66 | −$3.96 | −$5.64 |
| Cash per share | $0.45 | $0.84 | $0.79 | $0.72 | $0.50 | $1.66 | $0.76 | $0.59 | $0.49 | $1.41 |
| Book value per share | $15.36 | $17.26 | $18.55 | $19.67 | $18.43 | $17.64 | $15.65 | $19.48 | $19.10 | $17.95 |
| Tangible book value per share | $15.36 | $17.26 | $18.58 | −$20.45 | $18.51 | $17.65 | $15.57 | $18.85 | $19.10 | $17.95 |
| Dividends per share | $2.24 | $2.45 | $2.53 | $2.37 | $2.57 | $2.10 | $2.80 | $2.54 | $1.15 | $0.38 |
| Capex per share | $0.00 | $0.03 | $0.00 | $0.01 | $0.09 | $0.10 | $0.11 | $0.12 | $0.00 | $0.00 |
| Debt per share | $17.18 | $18.68 | $18.93 | $21.24 | $23.14 | $20.01 | $17.75 | $12.91 | $6.25 | $1.57 |
| Shares outstanding | 65.8M | 51.2M | 40.7M | 30.0M | 22.8M | 19.1M | 18.0M | 16.7M | 16.1M | 15.9M |
| Change in shares outstanding | +28.6% | +25.7% | +35.7% | +31.4% | +19.8% | +5.9% | +7.6% | +3.7% | +1.6% | +1.0% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 11.9% | 8.6% | 12.4% | 6.5% | 11.3% | 16.5% | −7.4% | 10.4% | 13.2% | 8.4% |
| Return on invested capital (ROIC) | 9.1% | 4.3% | 6.2% | 3.1% | 5.3% | 8.0% | −2.3% | 7.1% | 12.8% | 9.6% |
| Return on assets (ROA) | 5.6% | 4.1% | 5.9% | 3.0% | 5.0% | 7.7% | −3.9% | 6.8% | 10.6% | 7.7% |
| Return on tangible assets | 5.2% | 3.7% | 5.4% | 62.1% | 4.4% | 6.9% | −3.8% | 6.1% | 9.4% | 7.2% |
| Free cash flow margin | −78.7% | −133.6% | −123.9% | −251.7% | −179.4% | −94.0% | −307.4% | −155.1% | −120.1% | −227.4% |
| Income quality (OCF / net income) | −1.71 | −3.08 | −2.26 | −6.86 | −4.27 | −1.34 | — | −2.86 | −1.62 | −3.82 |
| Financial health | ||||||||||
| Total debt | $1.13B | $956.1M | $770.9M | $637.6M | $528.6M | $381.3M | $319.5M | $216.1M | $100.8M | $25.0M |
| Cash & short-term investments | $29.4M | $43.2M | $32.3M | $21.6M | $11.4M | $31.6M | $13.7M | $9.9M | $7.9M | $22.4M |
| Net debt | $1.10B | $912.8M | $738.6M | $616.1M | $517.2M | $349.7M | $305.8M | $206.2M | $92.9M | $2.6M |
| Debt / equity | 1.12 | 1.08 | 1.02 | 1.08 | 1.26 | 1.13 | 1.13 | 0.66 | 0.33 | 0.09 |
| Debt / assets | 0.52 | 0.51 | 0.50 | 0.51 | 0.54 | 0.52 | 0.55 | 0.39 | 0.24 | 0.08 |
| Net debt / EBITDA | 5.68 | 10.70 | 8.31 | 14.39 | 10.54 | 6.08 | — | 5.84 | 2.06 | 0.10 |
| Current ratio | — | 0.33 | 222.34 | 260.65 | 20.79 | 846.34 | 47.14 | 4.51 | 0.14 | 0.62 |
| Quick ratio | — | 0.33 | 222.34 | 117.60 | −1.21 | −26.10 | −3.49 | 4.51 | 0.14 | 0.62 |
| Interest coverage | 2.8 | 1.4 | 2.0 | 1.4 | 2.4 | 3.1 | -1.0 | 2.8 | 9.1 | 25.9 |
| Working capital | — | −$150.3M | $62.2M | $40.5M | $24.5M | $42.3M | $23.7M | $15.9M | −$49.6M | −$13.6M |
| Invested capital | $2.11B | $1.80B | $1.49B | $1.21B | $938.0M | $685.9M | $587.4M | $532.1M | $401.2M | $287.7M |
| Tangible asset value | $1.01B | $883.6M | $756.8M | −$614.0M | $422.7M | $336.5M | $280.3M | $315.5M | $308.3M | $285.1M |
| Net current asset value | −$1.10B | −$923.7M | −$738.6M | −$626.6M | −$527.3M | −$357.0M | −$279.1M | −$205.5M | −$101.3M | −$18.3M |
| Graham number | $24.35 | $23.14 | $29.24 | $22.09 | $27.88 | $32.55 | — | $29.42 | $32.35 | $24.44 |
| Graham net-net per share | −$16.87 | −$18.20 | −$18.32 | −$20.66 | −$22.65 | −$17.73 | −$14.93 | −$12.43 | −$6.01 | −$0.97 |
| Capital allocation | ||||||||||
| Dividends paid | $147.2M | $125.3M | $102.9M | $71.1M | $58.6M | $39.9M | $50.3M | $42.5M | $18.6M | $6.0M |
| Share buybacks (net) | — | — | $1.1M | $0 | $1.4M | $0 | $9.2M | $185,000 | $588,000 | $0 |
| Dividend payout ratio | 130.3% | 177.6% | 123.4% | 214.9% | 136.9% | 78.5% | — | 128.7% | 47.3% | 25.5% |
| Capex / revenue | 0.1% | 1.0% | 0.0% | 0.3% | 1.9% | 2.7% | 12.8% | 3.3% | 0.0% | 0.0% |
| Capex / depreciation | 0.04 | 0.28 | 0.00 | 0.10 | 0.89 | 1.01 | 0.83 | 1.43 | 0.00 | 0.00 |
| Stock-based compensation / revenue | — | 4.3% | 3.0% | 4.1% | −2.3% | −5.2% | −8.8% | 3.7% | 4.2% | 6.6% |
| R&D / revenue | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | 0.0% |
| SG&A / revenue | 9.7% | 6.7% | 15.8% | 8.6% | 6.4% | 7.3% | 36.8% | 7.9% | 8.3% | 11.3% |
| Efficiency | ||||||||||
| Days sales outstanding | 50.1 | 69.7 | 59.1 | 67.5 | 44.4 | 53.2 | 244.9 | 48.3 | 32.4 | 26.6 |
| Days of inventory on hand | — | — | 94.5 | 313.5 | 649.4 | 6,457.2 | 299.3 | 0.0 | 0.0 | 18,527.3 |
| Days payables outstanding | — | — | — | 2.0 | — | — | 172.5 | 135.6 | 2,306.5 | 1,442.3 |
| Cash conversion cycle (days) | — | — | — | 379.0 | — | — | 371.8 | -87.3 | -2,274.2 | 17,111.6 |
| Receivables turnover | 7.29 | 5.24 | 6.17 | 5.41 | 8.22 | 6.86 | 1.49 | 7.55 | 11.28 | 13.74 |
| Payables turnover | — | — | — | 185.08 | — | — | 2.12 | 2.69 | 0.16 | 0.25 |
| Inventory turnover | — | — | 3.86 | 1.16 | 0.56 | 0.06 | 1.22 | 12,178,000.00 | 927,000.00 | 0.02 |
| Asset turnover | 0.12 | 0.10 | 0.11 | 0.08 | 0.12 | 0.11 | 0.03 | 0.13 | 0.14 | 0.13 |
| Average receivables | $33.8M | $31.3M | $24.6M | $16.7M | $12.5M | $10.6M | $10.5M | $8.1M | $4.7M | $2.9M |
| Average payables | — | — | — | $156,000 | — | — | $7.5M | $4.5M | $5.9M | $3.9M |
| Average inventory | — | — | $11.2M | $24.8M | $35.4M | $34.8M | $13.0M | $1 | $1 | $50.2M |
| Intangibles / total assets | 0.0% | 0.0% | −0.1% | 95.8% | −0.2% | −0.0% | 0.2% | 1.9% | 0.0% | 0.0% |
Computed from CSWC's annual financial statements (latest annual report filed May 19, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
CSWC valuation and financial ratios
At the end of fiscal 2026 (March 31, 2026), Capital Southwest traded at 12.9 times earnings, against a 10-year median of 12.2. Based on the latest twelve months, the trailing P/E is 12.8 and the forward P/E is 11.4. Capital Southwest earned a return on equity of 11.9% and a return on invested capital of 9.1% in fiscal 2026. It ended the year with $1.1 billion of debt and $29.4 million in cash and short-term investments, net debt of $1.1 billion. It returned $147.2 million to shareholders: $147.2 million in dividends and $0 in share buybacks. The share count rose 314.6% from 15.9M to 65.8M over 9 years.
See the CSWC income statement, the CSWC chart for price history, or the CSWC stock overview for the latest quote and news.
CSWC key metrics FAQ
What is Capital Southwest's P/E ratio?
Capital Southwest's trailing P/E ratio is 12.8 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 11.4. At the end of fiscal 2026 it was 12.9, compared with a 10-year median of 12.2.
What is Capital Southwest's EV/EBITDA?
Capital Southwest's enterprise value was 13.2 times EBITDA at the end of fiscal 2026 (enterprise value $2.6 billion, EBITDA $193.9 million).
What is Capital Southwest's return on equity?
Capital Southwest's return on equity (ROE) was 11.9% in fiscal 2026: net income of $113.0 million on average shareholders' equity of $947.3 million.
What is Capital Southwest's ROIC?
Capital Southwest's return on invested capital was 9.1% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Capital Southwest have?
Capital Southwest had total debt of $1.1 billion at the end of fiscal 2026, a debt-to-equity ratio of 1.12 and $1.1 billion of net debt (5.68 times EBITDA).
What is Capital Southwest's dividend yield?
Capital Southwest's forward dividend yield is 13.17%. Capital Southwest paid $147.2 million in dividends in fiscal 2026 ($2.24 per share), a payout ratio of 130.3%.
What is Capital Southwest's free cash flow yield?
Capital Southwest generated -$193.5 million of free cash flow in fiscal 2026, a free cash flow yield of −13.3% on its market value at year-end ($1.5 billion).