stockrow
Friday 6 November 2026
Export RAND’s income statement to Excel — free account
Rand Capital Corporation
RAND Financial Asset Management
Rand Capital Corporation’s revenue for fiscal 2025 (year ended December 2025) was $6.5 million, down 24.4% from fiscal 2024.
- Revenue
- −17.0%
- EPS
- +142.7%
- Free cash flow
- −87.3%
Quarter to September 2026, against a year earlier
9.78
0.23
+2.41%
Follow RAND
Alert me
Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | 1 | 1 | 2 | 3 | 3 | 4 | 6 | 7 | 9 | 6 | 5 | +22.6% | — | — | — | — | |
| Gross margin, % | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 0.0 pt | ||||||
| EBT | (2) | (1) | 0 | 0 | 1 | (3) | 5 | 3 | 4 | 5 | 3 | n/m | ||||||
| EBT margin, % | (229.60) | (38.23) | (4.11) | (1.69) | 36.35 | (63.64) | 80.59 | 43.06 | 43.48 | 81.64 | 47.92 | +311.2 pt | ||||||
| Net income | (1) | (1) | 0 | (2) | 1 | 16 | (1) | 7 | 9 | (8) | 3 | +23.5% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 1.47 | 2.07 | 3.00 | 3.26 | 1.37 | 1.58 | 2.23 | 2.84 | 3.32 | 2.20 | 1.76 | +4.6% | |||||
| Earnings | (1.71) | (0.99) | (0.54) | (2.70) | 0.33 | 6.12 | (0.34) | 2.53 | 3.42 | (2.73) | 1.03 | +5.3% | ||||||
| Cash flow | 9.19 | (8.57) | (4.13) | 5.67 | (0.27) | (1.53) | 0.10 | (3.23) | 5.94 | 3.82 | (3.08) | (9.3%) | ||||||
| Capex | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | n/m | ||||||
| Free cash flow | 9.19 | (8.57) | (4.13) | 5.67 | (0.27) | (1.53) | 0.10 | (3.23) | 5.94 | 3.82 | (3.08) | (9.3%) | ||||||
| Book value | 46.43 | 45.44 | 44.91 | 64.07 | 20.33 | 23.54 | 22.36 | 23.56 | 25.31 | 17.72 | 17.36 | (10.1%) | ||||||
| Shares, m | 1 | 1 | 1 | 1 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | +17.3% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 0.00 | 0.00 | 0.00 | 0.00 | 40.93 | 2.78 | 0.00 | 5.13 | 5.63 | 0.00 | 9.27 | 5.4 | |||||
| P/S | 19.62 | 13.04 | 7.50 | 7.42 | 12.86 | 10.76 | 6.19 | 4.56 | 5.80 | 5.17 | 5.42 | 9.3 | ||||||
| P/B | 0.62 | 0.59 | 0.50 | 0.38 | 0.87 | 0.72 | 0.62 | 0.55 | 0.76 | 0.64 | 0.55 | 0.6 | ||||||
| EV/Sales | (11.35) | (8.06) | (6.81) | (11.69) | (3.12) | (2.50) | (4.28) | (4.18) | (2.50) | (2.88) | — | (5.7) | ||||||
| EV/FCF | (1.82) | 1.94 | 4.93 | (6.74) | 15.33 | 2.58 | (103.33) | 3.67 | (1.39) | (1.66) | — | (8.6) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | 6 | (6) | (3) | 5 | (1) | (4) | 0 | (8) | 15 | 11 | (9) | +6.4% | |||||
| Capex | 0 | — | — | — | — | — | — | — | — | — | 0 | — | ||||||
| Free cash flow | 6 | (6) | (3) | 5 | (1) | (4) | 0 | (8) | 15 | 11 | (9) | +6.4% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 38 | 39 | 40 | 63 | 57 | 61 | 60 | 77 | 66 | 53 | 57 | +3.6% | |||||
| Net debt | (32) | (31) | (30) | (52) | (50) | (65) | (60) | (64) | (71) | (53) | (52) | +5.7% | ||||||
| Shareholders’ equity | 33 | 32 | 32 | 54 | 46 | 61 | 58 | 61 | 65 | 52 | 52 | +5.4% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | (2.77) | (1.72) | (0.98) | (4.35) | 1.18 | 24.95 | (1.37) | 9.03 | 11.50 | (12.80) | 5.40 | (10.0) pt | |||||
| ROIC | (218.85) | (28.31) | (3.93) | (1.82) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | +218.9 pt | ||||||
| ROE | (3.62) | (2.20) | (1.24) | (5.38) | 1.49 | 29.57 | (1.49) | 11.01 | 14.00 | (13.68) | 5.76 | (10.1) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 4 | 4 | 4 | 4 | 4 | 5 | — | — | — | — | — | +4.6% | |||||
| Revenue/emp, $m | 0.26 | 0.36 | 0.53 | 0.68 | 0.78 | 0.82 | 0.00 | 0.00 | 0.00 | 0.00 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 4 Nov 2026
Rand Capital Corporation vs peers in Asset Management (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| MLCI Mount Logan Capital Inc. | $39.6M | — (loss-making) | — (loss-making) | −48.94% (below 0%: shrinking) | n/m | −1,001.65% (below 0%: shrinking) | 100.00% | (17.13%) | Compare |
| AVAT Avalanche Treasury Corporation | $35.0M | — | — | — | n/m | — | 100.00% | (3,421.79%) | Compare |
| RMCO Royalty Management Holding Corporation | $32.0M | — (loss-making) | — (loss-making) | +38.02% (above 0%: growing) | n/m | −450.54% (below 0%: shrinking) | 8.35% | (4.95%) | Compare |
| GROW U.S. Global Investors, Inc. | $30.3M | 9.6× | 6.2× | +39.11% (above 0%: growing) | n/m | +1,453.33% (above 0%: growing) | 100.00% | (3.23%) | Compare |
| RAND Rand Capital Corporation | $29.5M | 9.3× | 12.2× | −16.96% (below 0%: shrinking) | n/m | −87.28% (below 0%: shrinking) | 100.00% | 0.00% | |
| SVRN SVRN, Inc. | $24.5M | — (loss-making) | 2.6× | −0.46% (below 0%: shrinking) | n/m | −216.41% (below 0%: shrinking) | 13.51% | (140.13%) | Compare |
| FGC FG Communities Holdings Inc. | $22.7M | — (loss-making) | — (loss-making) | +16.91% (above 0%: growing) | n/m | +3,942.85% (above 0%: growing) | 100.00% | (886.36%) | Compare |
| BCG Binah Capital Group, Inc. | $18.8M | 5.5× | 28.1× | +12.09% (above 0%: growing) | n/m | +1,679.03% (above 0%: growing) | 100.00% | 0.91% | Compare |
| TGE The Generation Essentials Group | $17.0M | — | — | — | — | — | — | — | Compare |
| Median of peers | $27.4M | — | 6.2× | +14.50% | — | +618.46% | 100.00% | (17.13%) |