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

BLACKROCK TCP CAPITAL CORP.

BLACKROCK TCP CAPITAL CORP.’s revenue for fiscal 2025 (year ended December 2025) was $201.8 million, down 22.2% from fiscal 2024. In the quarter to June 2026, revenue fell 22.2%, EPS grew 110.5%, free cash flow grew 330.1% and total debt fell 22.5%, each against the same quarter a year earlier.

4.16 0.06 −1.42%

Follow TCPC

Alert me

Market cap: $354.1M
P/E: 0.0×
Fwd P/E: 9.4×
Dividend yield: 18.3%
F-score: 3/9
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 0.39%

Capital & Financial Ratios $m

Market Cap 354.07

Revenue 177.04

Net Income (108.47)

Free Cash Flow 399.70

Net Debt 753.04

Current Ratio 29.31

Debt/Equity 1.65

P/E ratio 0.00

Fwd P/E 9.44

P/S ratio 1.97

P/B ratio 0.63

Past 5Y EPS Growth —

This Y EPS Growth (49.61%)

Next Y EPS Growth (36.82%)

Next Y revenue growth (35.87%)

Next 5Y EPS Growth (22.97%)

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

Valuation vs history

P/S against its own 10 years 6.45%

10-year low 10-year high

P/B against its own 10 years 6.41%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate 0.76

Annual Dividend Yield 18.27%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	0.67	0.17 0.17 0.17
2025	1.00	0.25 0.25 0.25 0.25
2024	1.36	0.34 0.34 0.34 0.34
2023	1.00	0.32 0.34 0.10 0.34
2022	1.22	0.30 0.30 0.30 0.32 0.05
2021	1.20	0.30 0.30 0.30 0.30
2020	1.32	0.36 0.36 0.30 0.30
2019	1.44	0.36 0.36 0.36 0.36
2018	1.44	0.36 0.36 0.36 0.36
2017	1.44	0.36 0.36 0.36 0.36
2016	1.44	0.36 0.36 0.36 0.36

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	112	92	61	158
Receivables	—	5	26	—
Inventory	—	—	—	—
Other	—	—	—	—
	112	97	87	158

	2023	2024	2025	Q'26
Payables	2	1	1	0
ST’ Debt	—	—	—	—
Other	—	—	—	—
	5	5	6	5

Compound Annual Growth %

	10y	5y	3y
Sales	3.23%	3.23%	3.69%
Cash Flow	14.22%	4.84%	(8.76%)
Earnings	0.00%	0.00%	0.00%
Book Value	(1.87%)	(4.81%)	(7.14%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	43	40	—	—	—
’25	56	51	51	44	202
’24	56	72	71	61	259
’23	50	54	54	51	209
’22	42	44	48	47	181
’21	41	42	43	40	165
’20	41	45	43	43	172

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	159	96	—	—	—
’25	53	(42)	104	41	155
’24	33	86	102	72	293
’23	(40)	46	47	40	92
’22	27	10	132	35	204
’21	(120)	15	56	(33)	(83)
’20	(66)	74	30	85	122

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	159	96	—	—	—
’25	53	(42)	104	41	155
’24	33	86	102	72	293
’23	(40)	46	47	40	92
’22	27	10	132	35	204
’21	(120)	15	56	(33)	(83)
’20	(66)	74	30	85	122

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.19)	0.02	—	—	—
’25	0.25	(0.19)	0.29	(1.40)	(1.05)
’24	0.08	(0.60)	0.25	(0.48)	(0.79)
’23	0.39	0.28	0.22	(0.23)	0.67
’22	0.22	0.00	0.45	(0.83)	(0.16)
’21	0.61	0.95	0.19	0.56	2.32
’20	(1.18)	0.80	0.81	0.83	1.23

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	12.00	15.24	12.52	13.01	4.02	11.07	10.65	9.60	7.71	5.29	Analyst estimates 2026–2028 Powerpack
	High	17.25	17.47	15.55	14.88	14.76	15.07	14.52	13.47	11.99	9.48
People
People	Employees	—	—	—	—	—	—	—	19,800	21,100	24,900
	Revenue/emp, $m	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.01	0.01
Income, $m
Income, $m	Revenue	148	176	190	195	172	165	181	209	259	202
	Gross margin, %	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00
	EBT	96	113	93	95	83	73	88	107	132	110
	EBT margin, %	64.67	64.46	49.07	48.60	48.36	43.94	48.86	51.02	50.99	54.42
	Net income	76	68	45	31	71	134	(9)	38	(63)	(89)
	Depreciation	(27)	(8)	14	(20)	(1)	(68)	73	34	111	(88)
Per share, $
Per share, $	Revenue	2.91	3.09	3.24	3.32	2.97	2.86	3.13	3.62	3.26	2.37
	Earnings	1.50	1.19	0.77	0.52	1.23	2.32	(0.16)	0.67	(0.79)	(1.05)
	Cash flow	(0.90)	(2.25)	(0.79)	0.08	2.11	(1.43)	3.53	1.60	3.68	1.82
	Capex	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	Free cash flow	(0.90)	(2.25)	(0.79)	0.08	2.11	(1.43)	3.53	1.60	3.68	1.82
	Book value	15.52	15.28	14.12	13.21	13.19	14.36	12.93	11.90	9.85	7.04
	Shares, m	51	57	59	59	58	58	58	58	80	85
Valuation, ×
Valuation, ×	P/E	11.24	12.80	16.94	27.02	8.92	5.85	0.00	17.58	0.00	0.00
	P/S	5.80	4.98	4.03	4.23	3.79	4.73	4.16	3.20	2.67	2.30
	P/B	1.09	1.01	0.92	1.06	0.85	0.94	1.01	0.97	0.88	0.78
	EV/Sales	9.29	8.60	8.11	8.65	8.61	10.74	8.92	7.37	6.64	7.13
	EV/FCF	(29.88)	(11.81)	(33.30)	359.79	12.11	(21.47)	7.92	16.69	5.87	9.29
Cash, $m
Cash, $m	Operating cash flow	(46)	(128)	(46)	5	122	(83)	204	92	293	155
	Capex	—	—	—	—	—	—	—	—	—	—
	Free cash flow	(46)	(128)	(46)	5	122	(83)	204	92	293	155
Balance, $m
Balance, $m	Working capital	38	68	24	29	(16)	(6)	77	108	92	81
	Total debt	572	725	805	908	850	1,012	944	985	1,119	1,036
	Net debt	518	639	777	863	830	993	862	873	1,027	974
	Shareholders’ equity	791	871	830	776	765	829	747	688	785	598
Returns, %
Returns, %	ROA	5.81	4.50	2.77	1.81	4.21	7.50	(0.51)	2.25	(3.49)	(4.98)
	ROIC	4.58	4.70	3.63	3.62	3.26	3.10	3.44	4.28	4.56	4.36
	ROE	10.09	8.18	5.35	3.81	9.26	16.78	(1.17)	5.36	(8.57)	(12.86)

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
NOAH Noah Holdings Ltd.	$494.6M	5.8×	7.4×	+3.97% (above 0%: growing)	+38.89% (above 0%: growing)	+214.30% (above 0%: growing)	100.00%	34.81%	Compare
GLAD Gladstone Capital Corporation	$436.7M	8.8×	10.0×	+13.10% (above 0%: growing)	+78.79% (above 0%: growing)	−280.73% (below 0%: shrinking)	100.00%	71.30%	Compare
ALTI AlTi Global, Inc.	$360.2M	— (loss-making)	49.7×	+10.78% (above 0%: growing)	n/m	+84.23% (above 0%: growing)	100.00%	(18.70%)	Compare
TCPC BLACKROCK TCP CAPITAL CORP.	$354.1M	— (loss-making)	9.4×	−22.23% (below 0%: shrinking)	n/m	+330.05% (above 0%: growing)	100.00%	82.80%
CION CION Investment Corporation	$341.5M	110×	20.1×	−4.69% (below 0%: shrinking)	+19.23% (above 0%: growing)	−50.31% (below 0%: shrinking)	100.00%	28.47%	Compare
CCAP Crescent Capital BDC, Inc.	$336.4M	— (loss-making)	15.9×	−15.51% (below 0%: shrinking)	n/m	−72.97% (below 0%: shrinking)	59.08%	37.45%	Compare
HRZN Horizon Technology Finance Corporation	$307.7M	10.7×	8.5×	+2.14% (above 0%: growing)	n/m	+149.05% (above 0%: growing)	100.00%	93.70%	Compare
PSBD Palmer Square Capital BDC Inc.	$299.2M	— (loss-making)	— (loss-making)	−13.83% (below 0%: shrinking)	+22.73% (above 0%: growing)	−48.13% (below 0%: shrinking)	100.00%	83.11%	Compare
RWAY Runway Growth Finance Corp.	$273.3M	57.5×	— (loss-making)	+5.35% (above 0%: growing)	+44.44% (above 0%: growing)	−65,337.04% (below 0%: shrinking)	100.00%	84.24%	Compare
Median of peers	$338.9M	10.7×	12.9×	+3.06%	+38.89%	−49.22%	100.00%	54.38%

All 120 Asset Management stocks →

BLACKROCK TCP CAPITAL CORP. (TCPC) key facts

Concern: BLACKROCK TCP CAPITAL CORP.’s revenue for fiscal 2025 (year ended December 2025) was $201.8 million, down 22.2% from fiscal 2024.
BLACKROCK TCP CAPITAL CORP. (TCPC) is an Asset Management company in the Financial sector, listed on Nasdaq.
As of October 16, 2026, TCPC traded at $4.16, a market capitalization of $354.1 million.
BLACKROCK TCP CAPITAL CORP. pays an annual dividend of $0.76 per share, a yield of 18.3%.
Return on equity was −12.9% and debt-to-equity 1.65.
Its Piotroski F-score is 3 out of 9 for fiscal 2025.