# Capital Southwest Corporation (CSWC)

> Source: Nexqual · https://nexqual.com/CSWC · data as of 2026-10-29 20:00 UTC · cite as "Nexqual, Capital Southwest Corporation (CSWC), nexqual.com/CSWC" · informational, not investment advice.

**Price:** USD 23.41 (+1.74% on the day) · last close of Oct 29, 2026; US market closed, not a live price. Prev close 23.01 · day 23.16–23.45 · 52w 19.91–25.75 · market cap $1.49B · NMS

## Key facts
- Valuation: P/E 13.5x (avg 13.8x at the last 3 fiscal year-ends), net debt $1.16B.
- Analysts: Buy (mean 2.29 on a 1–5 scale) (7 analysts), mean target USD 25.08 (range 21–29).
- Total return with dividends: 1Y +27.3% vs S&P 500 +14.8%; 5Y +48.0% vs S&P 500 +79.1%.
- Next earnings: 2026-11-02, EPS estimate USD 0.56, revenue estimate $65.5M. All companies reporting that day: https://nexqual.com/earnings/2026-11-02
- Dividend: USD 3.04 a year (yield 13.20%), paid monthly; next ex-dividend date 2026-11-13; annual dividends grew 5.5% a year 2022–2025.
- Short interest: 5.73% of float (as of 2026-10-15), 6.4 days to cover.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Net income | $42.8M | $33.1M | $83.4M | $70.5M | $113M | $111M |
| EPS (diluted) | $1.87 | $2.29 | $2.05 | $1.47 | $1.90 | — |
| Free cash flow | -$185M | -$227M | -$189M | -$219M | -$194M | -$305M |
| Cash + short-term investments | $11.4M | $21.6M | $32.3M | $43.2M | $29.0M | — |
| Total debt | $529M | $638M | $771M | $956M | $1.13B | — |
Fiscal years end Mar. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 13.5x · P/B 1.4x · FCF yield -20.44% · Earnings yield 7.42% · Dividend yield (paid, TTM) 10.16% · Net debt $1.16B · EV $2.65B
P/E at fiscal year-ends: Mar 2026 12.9x, Mar 2025 16.2x, Mar 2024 12.2x.

## Analysts
Consensus Buy (mean 2.29 on a 1–5 scale), 7 analysts; mean target USD 25.08 (low 21, high 29).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-09 | UBS | Target raised | Neutral | $23.5 → $24 |
| 2026-08-05 | B. Riley Securities | Target raised | Buy | $24.5 → $25.5 |
| 2026-08-05 | Citizens | Target raised | Market Outperform | $25 → $26 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-30) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +27.3% | +48.0% |
| S&P 500 (SPY) | +14.8% | +79.1% |
| Per year | +27.4% | +8.1% |
| Volatility (annualized) | 18.3% | 21.0% |
| Max drawdown | -10.8% (Aug 2026→Oct 2026) | -33.4% (Oct 2021→Oct 2022) |

## Dividends
Annual dividend rate USD 3.04 per share, yield 13.20% at the current price. Paid over the last 12 months: USD 2.556 in 12 payments (monthly).
Next ex-dividend date: Nov 13, 2026; payment date: Dec 31, 2026. To receive a dividend, shares must be owned before the ex-dividend date.
Latest change: cut 23.7% to USD 0.193 per payment from USD 0.253, starting with the Oct 15, 2026 ex-dividend date.
Payout ratio 141% of earnings (above 100%: dividends exceeded net income; for REITs and partnerships, cash-flow measures are more relevant) · 5-year average yield 10.29% · annual dividends grew 5.5% a year from 2022 to 2025.
| Ex-dividend date | Amount per share |
|---|---|
| 2026-10-15 | USD 0.193 |
| 2026-09-15 | USD 0.253 |
| 2026-08-14 | USD 0.193 |
| 2026-07-15 | USD 0.193 |
| 2026-06-15 | USD 0.253 |
| 2026-05-15 | USD 0.193 |
| 2026-04-15 | USD 0.193 |
| 2026-03-13 | USD 0.253 |
Total by calendar year: 2022 USD 2.18 · 2023 USD 2.42 · 2024 USD 2.53 · 2025 USD 2.558.

## Short interest
3,554,474 shares sold short, 5.73% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 4,007,000 shares (-11.3%). Days to cover: 6.4 (short shares ÷ average daily volume).

## Peers (Asset Management)
BXSL (Blackstone Secured Lending Fund) USD 23.52 +1.38% · PDI (PIMCO Dynamic Income Fund) USD 14.33 +1.63% · VCTR (Victory Capital Holdings, Inc. ) USD 113.81 +1.73% · AMG (Affiliated Managers Group, Inc.) USD 399.02 +1.47% · SEIC (SEI Investments Company) USD 104.73 +1.48% · IVZ (Invesco Ltd) USD 29.02 +1.19%

## More
Full page: https://nexqual.com/CSWC · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Company outlook (8-K filed 2026-10-15)

- "The preliminary estimates of the second quarter 2027 fiscal year financial information and estimated results furnished above are based on Capital Southwest management's preliminary determinations and current expectations, and such information is inherently uncertain."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.56 | $0.56 | +0.1% | $65.5M | 6 |
| Next quarter (ends 2026-12-31) | $0.57 | $0.56 | +2.8% | $69.0M | 6 |
| Current fiscal year (ends 2027-03-31) | $2.25 | $2.22 | +1.2% | $267.0M | 6 |
| Next fiscal year (ends 2028-03-31) | $2.38 | $2.21 | +7.4% | $306.6M | 6 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | $0.58 | $0.55 | Beat +5.5% | — |
| — | Quarter ended Mar 31, 2026 | $0.57 | $0.58 | Miss −1.7% | — |
| — | Quarter ended Dec 31, 2025 | $0.64 | $0.60 | Beat +6.7% | — |
| — | Quarter ended Sep 30, 2025 | $0.57 | $0.58 | Miss −1.7% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).