Capital Southwest Corp. Files Q3 FY25 10-Q

TL;DR

**CSWC Q3 FY25 10-Q filed. Investments and debt details updated.**

AI Summary

Capital Southwest Corp. filed its 10-Q for the period ending December 31, 2024. The company reported its financial position, including investments in affiliated and unaffiliated issuers, and details on its common stock and August 2028 Notes. The filing covers the third quarter of fiscal year 2025.

Why It Matters

This filing provides investors with an update on Capital Southwest's financial health and investment portfolio, crucial for understanding its current market position and future prospects.

Risk Assessment

Risk Level: medium — The filing contains detailed financial information, including investments and debt, which requires careful analysis to assess the company's risk profile.

Key Numbers

• 2024-12-31 — Reporting Period End Date (Indicates the end of the financial reporting period.)
• 2024-03-31 — Previous Fiscal Year End (Provides a comparison point for financial performance.)
• 2025-01-31 — Most Recent Month-End (Indicates financial status as of a recent date.)

Key Players & Entities

• Capital Southwest Corp. (company) — Filer of the 10-Q
• December 31, 2024 (date) — End of reporting period
• August 2028 Notes (dollar_amount) — Debt instrument mentioned
• 2025 Q3 (date) — Fiscal quarter reported

FAQ

Key Financial Figures

• $0.25 — ange on Which Registered Common Stock, $0.25 par value per share CSWC The Nasdaq Glo

Filing Documents

• cswc-20241231.htm (10-Q) — 7649KB
• cswc123124ex311.htm (EX-31.1) — 12KB
• cswc123124ex312.htm (EX-31.2) — 11KB
• cswc123124ex321.htm (EX-32.1) — 6KB
• cswc123124ex322.htm (EX-32.2) — 6KB
• 0000017313-25-000012.txt ( ) — 32030KB
• cswc-20241231.xsd (EX-101.SCH) — 111KB
• cswc-20241231_cal.xml (EX-101.CAL) — 97KB
• cswc-20241231_def.xml (EX-101.DEF) — 690KB
• cswc-20241231_lab.xml (EX-101.LAB) — 1049KB
• cswc-20241231_pre.xml (EX-101.PRE) — 790KB
• cswc-20241231_htm.xml (XML) — 7633KB

Notes to Consolidated Financial Statements (Unaudited)

Notes to Consolidated Financial Statements (Unaudited) 62 Consolidated Schedule of Investments in and Advances to Affiliates (Unaudited) for the nine months ended December 31, 2024 102 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 106 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 121 Item 4.

Controls and Procedures

Controls and Procedures 123 PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 124 Item1A.

Risk Factors

Risk Factors 124 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 125 Item 3. Defaults Upon Senior Securities 125 Item 4. Mine Safety Disclosures 125 Item 5. Other Information 125 Item 6. Exhibits 126

Signatures

Signatures 128 2 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Consolidated Financial Statements

Item 1. Consolidated Financial Statements CAPITAL SOUTHWEST CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES (In thousands, except shares and per share data) December 31, March 31, 2024 2024 (Unaudited) Assets Investments at fair value: Non-control/Non-affiliate investments (Cost: $ 1,481,051 and $ 1,276,690 , respectively) $ 1,471,215 $ 1,286,355 Affiliate investments (Cost: $ 223,612 and $ 200,013 , respectively) 221,044 190,206 Control investments (Cost: $ 8,619 and $ 0 , respectively) 9,027 — Total investments (Cost: $ 1,713,282 and $ 1,476,703 , respectively) 1,701,286 1,476,561 Cash and cash equivalents 36,013 32,273 Receivables: Dividends and interest 28,237 22,928 Escrow — 16 Other 4,056 7,276 Income tax receivable 668 336 Debt issuance costs (net of accumulated amortization of $ 9,685 and $ 7,741 , respectively) 9,938 10,928 Other assets 8,867 6,440 Total assets $ 1,789,065 $ 1,556,758 Liabilities SBA Debentures (net of $ 4,279 and $ 4,305 , respectively, of unamortized debt issuance costs) $ 170,721 $ 148,695 January 2026 Notes (net of $ 0 and $ 612 , respectively, of unamortized debt issuance costs) — 139,388 October 2026 Notes (net of $ 1,346 and $ 1,923 , respectively, of unamortized debt issuance costs) 148,654 148,077 August 2028 Notes (net of $ 1,800 and $ 2,182 , respectively, of unamortized debt issuance costs) 70,075 69,693 2029 Convertible Notes (net of $ 7,256 and $ 0 , respectively, of unamortized debt issuance costs) 222,744 — Credit Facilities 308,000 265,000 Other liabilities 20,993 17,381 Accrued restoration plan liability 556 570 Income tax payable 1,251 281 Deferred tax liability 15,629 11,997 Total liabilities 958,623 801,082 Commitments and contingencies (Note 11) Net Assets Common stock, $ 0.25 par value: authorized, 75,000,000 shares at December 31, 2024 and March 31, 2024; issued, 50,051,332 shares at December 31, 2024 and 45,050,759 shares at March 31,

View Full Filing

View this 10-Q filing on SEC EDGAR