Saturday 17 October 2026 Export RAND’s income statement to Excel — free account

Rand Capital Corporation

Rand Capital Corporation’s revenue for fiscal 2025 (year ended December 2025) was $6.5 million, down 24.4% from fiscal 2024. In the quarter to June 2026, revenue fell 13.0%, EPS grew 117.7% and free cash flow fell 1,146.8%, each against the same quarter a year earlier.

9.74 0.19 +1.99%

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Market cap: $28.4M
P/E: 0.0×
Fwd P/E: 12.2×
Dividend yield: 8.93%
F-score: 4/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 76.09%

Capital & Financial Ratios $m

Market Cap 28.36

Revenue 5.50

Net Income (0.15)

Free Cash Flow (3.98)

Net Debt (51.83)

Current Ratio 90.74

Debt/Equity 0.10

P/E ratio 0.00

Fwd P/E 12.20

P/S ratio 5.26

P/B ratio 0.56

Past 5Y EPS Growth —

This Y EPS Growth 840.10%

Next Y EPS Growth —

Next Y revenue growth 340,176.23%

Next 5Y EPS Growth —

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/S against its own 10 years 14.63%

10-year low 10-year high

P/B against its own 10 years 24.22%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate 0.87

Annual Dividend Yield 8.93%

	total	individual payouts
2026	0.87	0.29 0.29 0.29
2025	2.94	0.29 0.29 0.29 0.56
2024	0.83	0.25 0.29 0.29
2023	0.70	0.20 0.25 0.25 0.38
2022	0.83	0.15 0.15 0.15 0.38
2021	0.40	0.10 0.10 0.10 0.10
2020	4.25	2.92 1.33
2019	Powerpack
2017	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	80	72	53	57
Receivables	0	0	0	0
Inventory	—	—	—	—
Other	—	—	—	—
	81	72	53	57

	2023	2024	2025	Q'26
Payables	3	4	1	1
ST’ Debt	—	—	—	—
Other	—	2	—	—
	3	6	1	1

Compound Annual Growth %

	10y	5y	3y
Sales	8.65%	15.85%	3.95%
Cash Flow	0.00%	0.00%	254.58%
Earnings	0.00%	0.00%	0.00%
Book Value	4.42%	2.51%	(3.31%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	1	1	—	—	—
’25	2	2	2	1	6
’24	2	2	2	2	9
’23	2	2	2	2	7
’22	1	1	2	2	6
’21	1	1	1	1	4
’20	1	1	1	1	3

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(4)	(4)	—	—	—
’25	8	0	6	(3)	11
’24	(5)	4	15	1	15
’23	(4)	4	(7)	(1)	(8)
’22	0	1	0	(1)	0
’21	(2)	(2)	1	(1)	(4)
’20	3	(2)	(3)	1	(1)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(4)	(4)	—	—	—
’25	8	0	6	(3)	11
’24	(5)	4	15	1	15
’23	(4)	4	(7)	(1)	(8)
’22	0	1	0	(1)	0
’21	(2)	(2)	1	(1)	(4)
’20	3	(2)	(3)	1	(1)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.12)	0.46	—	—	—
’25	0.29	(2.60)	(0.75)	0.37	(2.73)
’24	0.54	3.00	1.02	(1.14)	3.42
’23	0.84	1.04	0.23	0.42	2.53
’22	(0.16)	(0.73)	0.43	0.12	(0.34)
’21	3.11	1.74	0.90	0.37	6.12
’20	0.27	0.20	0.10	(0.14)	0.33

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	27.45	24.75	18.45	19.26	10.25	14.06	13.04	12.50	12.81	10.56	Analyst estimates 2026–2028 Powerpack
	High	47.25	31.50	28.62	32.40	37.08	26.98	18.80	14.55	24.10	31.89
People
People	Employees	4	4	4	4	4	5	—	—	—	—
	Revenue/emp, $m	0.26	0.36	0.53	0.68	0.78	0.82	0.00	0.00	0.00	0.00
Income, $m
Income, $m	Revenue	1	1	2	3	3	4	6	7	9	6
	Gross margin, %	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00
	EBT	(2)	(1)	0	0	1	(3)	5	3	4	5
	EBT margin, %	(229.60)	(38.23)	(4.11)	(1.69)	36.35	(63.64)	80.59	43.06	43.48	81.64
	Net income	(1)	(1)	0	(2)	1	16	(1)	7	9	(8)
	Depreciation	0	0	0	0	0	0	0	0	0	0
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
	Earnings	(1.71)	(0.99)	(0.54)	(2.70)	0.33	6.12	(0.34)	2.53	3.42	(2.73)
	Cash flow	9.19	(8.57)	(4.13)	5.67	(0.27)	(1.53)	0.10	(3.23)	5.94	3.82
	Capex	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	Free cash flow	9.19	(8.57)	(4.13)	5.67	(0.27)	(1.53)	0.10	(3.23)	5.94	3.82
	Book value	46.43	45.44	44.91	64.07	20.33	23.54	22.36	23.56	25.31	17.72
	Shares, m	1	1	1	1	2	3	3	3	3	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
	P/S	19.62	13.04	7.50	7.41	12.86	10.76	6.19	4.56	5.80	5.17
	P/B	0.62	0.59	0.50	0.38	0.87	0.72	0.62	0.55	0.76	0.64
	EV/Sales	(11.35)	(8.06)	(6.81)	(11.69)	(3.12)	(2.50)	(4.28)	(4.18)	(2.50)	(2.88)
	EV/FCF	(1.82)	1.94	4.93	(6.74)	15.33	2.58	(103.33)	3.67	(1.39)	(1.66)
Cash, $m
Cash, $m	Operating cash flow	6	(6)	(3)	5	(1)	(4)	0	(8)	15	11
	Capex	0	—	—	—	—	—	—	—	—	—
	Free cash flow	6	(6)	(3)	5	(1)	(4)	0	(8)	15	11
Balance, $m
Balance, $m	Working capital	38	39	40	63	57	61	60	77	66	53
	Total debt	8	8	9	11	11	—	3	16	1	—
	Net debt	(32)	(31)	(30)	(52)	(50)	(65)	(60)	(64)	(71)	(53)
	Shareholders’ equity	33	32	32	54	46	61	58	61	65	52
Returns, %
Returns, %	ROA	(2.77)	(1.72)	(0.98)	(4.35)	1.18	24.95	(1.37)	9.03	11.50	(12.80)
	ROIC	(218.85)	(28.31)	(3.93)	(1.82)	0.00	0.00	0.00	0.00	0.00	0.00
	ROE	(3.62)	(2.20)	(1.24)	(5.38)	1.49	29.57	(1.49)	11.01	14.00	(13.68)

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
TGE The Generation Essentials Group	$40.3M	—	—	—	—	—	—	—	Compare
RMCO Royalty Management Holding Corporation	$35.8M	— (loss-making)	—	+38.02% (above 0%: growing)	n/m	−450.54% (below 0%: shrinking)	8.35%	(4.95%)	Compare
MLCI Mount Logan Capital Inc.	$35.5M	— (loss-making)	—	−48.94% (below 0%: shrinking)	n/m	−1,001.65% (below 0%: shrinking)	100.00%	(17.13%)	Compare
GROW U.S. Global Investors, Inc.	$33.5M	10.5×	6.2×	+39.11% (above 0%: growing)	n/m	+1,453.33% (above 0%: growing)	100.00%	(3.23%)	Compare
RAND Rand Capital Corporation	$28.4M	— (loss-making)	12.2×	−12.98% (below 0%: shrinking)	n/m	−1,146.76% (below 0%: shrinking)	100.00%	58.77%
FGC FG Communities Holdings Inc.	$26.7M	— (loss-making)	— (loss-making)	+16.91% (above 0%: growing)	n/m	+3,942.85% (above 0%: growing)	100.00%	(886.36%)	Compare
INV Innventure, Inc.	$25.6M	— (loss-making)	—	+100.21% (above 0%: growing)	n/m	−16.26% (below 0%: shrinking)	(432.32%)	(3,304.09%)	Compare
AMTD AMTD IDEA Group	$24.1M	0.5×	— (loss-making)	+90.59% (above 0%: growing)	−31.02% (below 0%: shrinking)	—	0.00%	0.00%	Compare
BENF Beneficient	$20.7M	— (loss-making)	6.3×	+196.37% (above 0%: growing)	n/m	+62.45% (above 0%: growing)	100.00%	34.47%	Compare
Median of peers	$30.1M	—	—	+39.11%	—	+23.10%	100.00%	(4.95%)

All 120 Asset Management stocks →

Rand Capital Corporation (RAND) key facts

Concern: Rand Capital Corporation’s revenue for fiscal 2025 (year ended December 2025) was $6.5 million, down 24.4% from fiscal 2024.
Concern: Rand Capital Corporation reported a net loss of $8.0 million, or a loss of $2.73 per share, for fiscal 2025.
Rand Capital Corporation (RAND) is an Asset Management company in the Financial sector, listed on Nasdaq.
As of October 16, 2026, RAND traded at $9.74, a market capitalization of $28.4 million.
Trailing earnings are negative, so a P/E ratio is not meaningful; the stock trades at 5.3× sales.
Rand Capital Corporation pays an annual dividend of $0.87 per share, a yield of 8.93%.
Return on equity was −13.7% and debt-to-equity 0.10.
Its Piotroski F-score is 4 out of 9 for fiscal 2025.