Rand Capital Corporation (RAND) Key Metrics
RAND valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $28.4M
- Enterprise value
- $33.0M
- P/E (TTM)
- — 10-yr median 5.4
- Forward P/E
- 53.2
- PEG ratio
- 3.13
- Price / sales
- 5.2 10-yr median 8.2
- Price / book
- 0.6 10-yr median 0.6
- EV / EBITDA
- — 10-yr median 6.2
- Dividend yield
- 12.15% $1.16 a year
- Beta
- 0.15
RAND key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsRAND valuation Price multiples at each fiscal year-end price.
Price / sales+68.8%
7.5
2025 · hover or tap a bar for each year
20162025
Price / book−15.7%
0.6
2025 · hover or tap a bar for each year
20162025
Price / free cash flow−8.3%
3.0
2025 · hover or tap a bar for each year
20162025
Free cash flow yield+2.8 pts
33.6%
2025 · hover or tap a bar for each year
20162025
RAND returns How much profit the business earns on the capital it uses.
Return on equity−27.7 pts
−13.7%
2025 · hover or tap a bar for each year
20162025
Return on invested capital−23.7 pts
−11.0%
2025 · hover or tap a bar for each year
20162025
Return on assets−24.3 pts
−12.8%
2025 · hover or tap a bar for each year
20162025
Free cash flow margin+114.9 pts
251.5%
2025 · hover or tap a bar for each year
20162025
Asset turnover−51.3%
0.07
2025 · hover or tap a bar for each year
20162025
RAND per-share figures Results divided by the shares outstanding at year-end.
Revenue per share−65.1%
$1.52
2025 · hover or tap a bar for each year
20162025
Earnings per share
−$2.73
2025 · hover or tap a bar for each year
20162025
Free cash flow per share−35.7%
$3.82
2025 · hover or tap a bar for each year
20162025
Book value per share−30.0%
$17.72
2025 · hover or tap a bar for each year
20162025
Dividends per share+197.7%
$2.47
2025 · hover or tap a bar for each year
20162025
Shares outstanding+14.1%
2.9M
2025 · hover or tap a bar for each year
20162025
RAND financial health Debt, liquidity and how easily interest is covered.
Net debt−$4.0M
−$4.2M
2025 · hover or tap a bar for each year
20162025
Current ratio+942.0%
7.26
2025 · hover or tap a bar for each year
20162025
Interest coverage
-70.0
2025 · hover or tap a bar for each year
20162025
RAND efficiency & capital use Working capital cycle and where the cash goes.
Days sales outstanding+11 days
23 days
2025 · hover or tap a bar for each year
20162025
Days payables outstanding−1,849 days
-1,446 days
2025 · hover or tap a bar for each year
20162025
Cash conversion cycle+1,860 days
1,469 days
2025 · hover or tap a bar for each year
20162025
Capex / revenue0.0 pts
0.0%
2025 · hover or tap a bar for each year
20162025
Dividends + buybacks / FCF+50.7 pts
64.7%
2025 · hover or tap a bar for each year
20162025
RAND valuation history
Fiscal year-endToday10-year median
RAND returns on capital
ROEROICROA
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
RAND debt vs cash
Total debtCash & short-term investments
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
RAND cash returned to shareholders
DividendsBuybacksFree cash flow
RAND price vs earnings per share
Share price at year-endEPS (right axis)
RAND key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $33.4M | $49.7M | $33.5M | $34.4M | $43.9M | $39.9M | $20.2M | $15.8M | $19.1M | $20.0M |
| Enterprise value | $29.2M | $49.4M | $46.5M | $35.6M | $43.4M | $30.4M | $5.5M | $20.6M | $28.5M | $23.4M |
| P/E ratio | — | 5.6 | 5.1 | — | 2.8 | 53.7 | — | — | — | — |
| Price / sales | 7.5 | 4.4 | 3.7 | 50.4 | 2.5 | 11.5 | — | 8.9 | 15.2 | — |
| Price / book | 0.6 | 0.8 | 0.6 | 0.6 | 0.7 | 0.9 | 0.4 | 0.5 | 0.6 | 0.6 |
| Price / free cash flow | 3.0 | 3.2 | 5.5 | 136.2 | — | — | 3.5 | — | — | 3.1 |
| Price / operating cash flow | 3.0 | 3.2 | 5.5 | 136.2 | — | — | 3.5 | — | — | 3.1 |
| EV / sales | 6.5 | 4.4 | 5.1 | 52.1 | 2.5 | 8.8 | — | 11.7 | 22.7 | — |
| EV / EBITDA | — | 5.6 | 6.8 | — | 2.8 | 14.4 | — | — | — | — |
| EV / free cash flow | 2.6 | 3.2 | 7.6 | 140.9 | — | — | 0.9 | — | — | 3.6 |
| Earnings yield | −24.0% | 17.8% | 19.5% | −2.6% | 36.0% | 1.9% | −11.3% | −2.5% | −3.7% | −6.0% |
| Free cash flow yield | 33.6% | 30.9% | 18.2% | 0.7% | −9.0% | −1.5% | 28.9% | −18.3% | −31.5% | 32.3% |
| Dividend yield | 21.8% | 4.3% | 10.2% | 6.2% | 10.4% | 11.9% | 22.6% | 28.9% | — | — |
| Shareholder yield (dividends + buybacks) | 21.8% | 4.3% | 10.2% | 6.2% | 10.5% | 12.1% | 22.6% | 28.9% | 0.0% | 0.1% |
| Share price at fiscal year-end | $11.36 | $19.25 | $12.99 | $13.32 | $16.99 | $17.60 | $24.15 | $22.50 | $27.17 | $28.44 |
| Per share | ||||||||||
| Revenue per share | $1.52 | $4.35 | $3.54 | $0.26 | $6.67 | $1.52 | $0.00 | $2.52 | $1.79 | $0.00 |
| Earnings per share | −$2.73 | $3.42 | $2.53 | −$0.34 | $6.12 | $0.33 | −$2.74 | −$0.56 | −$1.01 | −$1.71 |
| Operating cash flow per share | $3.82 | $5.94 | $2.37 | $0.10 | −$1.53 | −$0.27 | $6.98 | −$4.13 | −$8.57 | $9.19 |
| Free cash flow per share | $3.82 | $5.94 | $2.37 | $0.10 | −$1.53 | −$0.27 | $6.98 | −$4.13 | −$8.57 | $9.19 |
| Cash per share | $1.43 | $0.32 | $1.28 | $0.53 | $0.32 | $8.98 | $30.85 | $5.74 | $8.91 | $17.47 |
| Book value per share | $17.72 | $25.31 | $23.56 | $22.36 | $25.41 | $20.33 | $64.08 | $44.88 | $45.44 | $46.42 |
| Tangible book value per share | $17.72 | $25.31 | $23.56 | $22.22 | $25.29 | $20.33 | $63.60 | $44.65 | $45.05 | $45.96 |
| Dividends per share | $2.47 | $0.83 | $1.33 | $0.83 | $1.77 | $2.10 | $5.46 | $6.51 | — | — |
| Capex per share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Debt per share | — | $0.23 | $6.30 | $0.99 | $0.14 | $4.77 | $13.25 | $12.60 | $22.37 | $22.27 |
| Shares outstanding | 2.9M | 2.6M | 2.6M | 2.6M | 2.6M | 2.3M | 837K | 702K | 702K | 703K |
| Change in shares outstanding | +14.1% | 0.0% | 0.0% | −0.0% | +13.8% | +171.0% | +19.1% | +0.0% | −0.1% | −0.0% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −13.7% | 14.0% | 11.0% | −1.4% | 28.3% | 1.5% | −5.4% | −1.2% | −2.2% | −3.6% |
| Return on invested capital (ROIC) | −11.0% | 12.7% | 9.8% | −0.7% | 30.7% | 2.7% | −6.6% | −0.6% | −1.5% | −15.5% |
| Return on assets (ROA) | −12.8% | 11.5% | 9.0% | −1.4% | 25.0% | 1.2% | −4.3% | −1.0% | −1.7% | −2.8% |
| Return on tangible assets | −15.1% | 12.2% | 8.1% | −1.4% | 24.2% | 1.2% | −3.6% | −1.0% | −1.8% | −2.9% |
| Free cash flow margin | 251.5% | 136.7% | 66.9% | 37.0% | −22.9% | −17.8% | — | −164.1% | −478.9% | — |
| Income quality (OCF / net income) | — | 1.74 | 0.94 | — | −0.25 | −0.83 | — | — | — | — |
| Financial health | ||||||||||
| Total debt | — | $600,000 | $16.2M | $2.5M | $357,198 | $10.8M | $11.1M | $8.9M | $15.7M | $15.7M |
| Cash & short-term investments | $4.2M | $834,805 | $3.3M | $1.4M | $833,875 | $20.4M | $25.8M | $4.0M | $6.3M | $12.3M |
| Net debt | −$4.2M | −$234,805 | $13.0M | $1.2M | −$476,677 | −$9.5M | −$14.7M | $4.8M | $9.4M | $3.4M |
| Debt / equity | — | 0.01 | 0.27 | 0.04 | 0.01 | 0.23 | 0.21 | 0.28 | 0.49 | 0.48 |
| Debt / assets | — | 0.01 | 0.20 | 0.04 | 0.01 | 0.18 | 0.17 | 0.22 | 0.39 | 0.37 |
| Net debt / EBITDA | — | −0.03 | 1.89 | — | −0.03 | −4.52 | — | — | — | — |
| Current ratio | 7.26 | 0.70 | 3.35 | 27.54 | 21.93 | 5.80 | 77.46 | 11.30 | 8.12 | 34.36 |
| Quick ratio | 7.26 | 0.70 | 3.35 | 27.54 | 21.93 | 5.80 | 77.46 | 11.30 | 8.12 | 34.36 |
| Interest coverage | -70.0 | 8.1 | 6.5 | -8.0 | 25.3 | 5.0 | -7.7 | -1.0 | -2.4 | -22.7 |
| Working capital | $3.9M | −$685,895 | $2.6M | $1.8M | $1.1M | $17.3M | $25.9M | $3.8M | $5.7M | $12.2M |
| Invested capital | $48.0M | $65.1M | $73.8M | $58.9M | $65.1M | $36.6M | $38.9M | $36.3M | $41.4M | $36.0M |
| Tangible asset value | $52.2M | $65.3M | $60.8M | $57.3M | $65.3M | $46.1M | $53.2M | $31.4M | $31.6M | $32.3M |
| Net current asset value | $3.5M | −$5.6M | −$16.4M | −$3.9M | $1.1M | $6.1M | $15.1M | −$4.8M | −$1.7M | $2.8M |
| Graham number | — | $44.14 | $36.61 | — | $59.14 | $12.25 | — | — | — | — |
| Graham net-net per share | $1.13 | −$2.32 | −$6.46 | −$1.59 | $0.39 | $2.53 | $17.87 | −$6.90 | −$2.49 | $5.10 |
| Capital allocation | ||||||||||
| Dividends paid | $7.3M | $2.1M | $3.4M | $2.1M | $4.6M | $4.8M | $4.6M | $4.6M | — | — |
| Share buybacks (net) | — | — | $0 | $0 | $20,771 | $76,729 | $0 | $0 | $0 | $21,614 |
| Dividend payout ratio | — | 24.3% | 52.6% | — | 28.9% | 639.5% | — | — | — | — |
| Dividends + buybacks / free cash flow | 64.7% | 14.0% | 56.1% | 848.9% | — | — | 78.2% | — | — | 0.3% |
| Capex / revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | 0.0% | 0.0% | — |
| Capex / operating cash flow | 0.0% | 0.0% | 0.0% | 0.0% | — | — | 0.0% | — | — | 0.0% |
| Capex / depreciation | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.03 |
| Stock-based compensation / revenue | — | — | 4.5% | — | 1.8% | −38.3% | — | −103.5% | −405.4% | — |
| R&D / revenue | — | — | 0.0% | 0.0% | 0.0% | 0.0% | — | 0.0% | 0.0% | — |
| SG&A / revenue | 21.1% | 12.0% | 13.9% | 172.1% | 5.9% | 28.4% | — | 53.5% | 74.1% | — |
| Efficiency | ||||||||||
| Days sales outstanding | 22.9 | 11.8 | 14.2 | 181.7 | 6.6 | 38.2 | — | 44.2 | 251.3 | — |
| Days of inventory on hand | — | — | — | 0.0 | 0.0 | — | 0.0 | — | — | — |
| Days payables outstanding | -1,445.7 | 403.0 | 37.1 | 308.8 | 1,081.3 | 1,727.1 | 317.2 | 406.7 | 1,127.5 | 1,244.3 |
| Cash conversion cycle (days) | 1,468.6 | -391.2 | -22.9 | -127.1 | -1,074.7 | -1,688.9 | — | -362.5 | -876.2 | — |
| Receivables turnover | 15.93 | 31.02 | 25.76 | 2.01 | 55.21 | 9.56 | 0.00 | 8.25 | 1.45 | 0.00 |
| Payables turnover | −0.25 | 0.91 | 9.85 | 1.18 | 0.34 | 0.21 | 1.15 | 0.90 | 0.32 | 0.29 |
| Inventory turnover | — | — | — | 69,960.00 | 617,270.00 | — | 408,039.00 | — | — | — |
| Asset turnover | 0.07 | 0.15 | 0.13 | 0.01 | 0.27 | 0.05 | 0.00 | 0.04 | 0.03 | 0.00 |
| Average receivables | $280,812 | $361,637 | $354,833 | $339,754 | $311,709 | $361,620 | $278,156 | $214,186 | $865,438 | $1.6M |
| Average payables | $1.2M | $1.2M | $106,098 | $59,184 | $1.8M | $2.0M | $354,598 | $346,553 | $958,468 | $1.1M |
| Average inventory | — | — | — | $1 | $1 | — | $1 | — | — | — |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.6% | 0.5% | 0.0% | 0.6% | 0.4% | 0.7% | 0.8% |
Computed from RAND's annual financial statements (latest annual report filed March 5, 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.
RAND valuation and financial ratios
Rand Capital earned a return on equity of −13.7% and a return on invested capital of −11.0% in fiscal 2025. It returned $7.3 million to shareholders: $7.3 million in dividends and $0 in share buybacks, 65% of free cash flow. The share count rose 319.0% from 703K to 2.9M over 9 years.
See the RAND income statement, the RAND chart for price history, or the RAND stock overview for the latest quote and news.
RAND key metrics FAQ
What is Rand Capital's return on equity?
Rand Capital's return on equity (ROE) was −13.7% in fiscal 2025: net income of -$8.0 million on average shareholders' equity of $58.8 million.
What is Rand Capital's ROIC?
Rand Capital's return on invested capital was −11.0% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
What is Rand Capital's dividend yield?
Rand Capital's forward dividend yield is 12.15%. Rand Capital paid $7.3 million in dividends in fiscal 2025 ($2.47 per share), a payout ratio of —.
What is Rand Capital's free cash flow yield?
Rand Capital generated $11.3 million of free cash flow in fiscal 2025, a free cash flow yield of 33.6% on its market value at year-end ($33.4 million).
What is Rand Capital's current ratio?
Rand Capital's current ratio was 7.26 at the end of fiscal 2025: current assets were 7.26 times current liabilities.