Capital Southwest (CSWC) Operating Cash Flow: History & Chart

Capital Southwest Corporation(CSWC)

Asset Management · Dallas, TX

$23.57+0.05 (+0.21%)

Delayed quote: Oct 5, 2026, 4:00 PM EDT

About Capital Southwest Corporation

Capital Southwest Corporation operates as a business development company (BDC), specializing in credit, private equity, and venture capital investments focused on middle market companies throughout the United States. The firm engages across various investment stages, including mezzanine financing, later-stage and mature businesses, late venture, emerging growth enterprises, buyouts, recapitalizations, and growth capital funding. The company explicitly refrains from investing in startups, publicly traded entities, real estate developments, project finance opportunities, oil and gas exploration ventures, troubled companies, turnaround situations, or businesses facing significant departures of senior management. Within the lower middle market, Capital Southwest provides capital for growth initiatives, bolt-on and new platform acquisitions, refinancing, dividend recapitalizations, and both sponsor-led and management buyouts. Its investment structures are diverse, encompassing Unitranche debt, subordinated debt, senior debt, first and second lien debt, alongside preferred and common equity. The firm also participates in equity co-investments alongside its debt financing, taking non-controlling stakes up to 20% of the total transaction value. Investment criteria for target companies include revenues exceeding $10 million, consistent profitability, and a historical annual growth rate of at least 15%. For lower middle market opportunities, the firm typically seeks businesses with less than $15 million in EBITDA, while also opportunistically considering upper middle market ventures, generally defined as companies with EBITDA greater than $50 million. Capital Southwest strategically focuses its investments within several key industry sectors: Industrial manufacturing and services Value-added distribution Healthcare products and services Business services Specialty chemicals Food and beverage Tech-enabled services and SaaS models More specifically, the firm seeks opportunities in: Energy services and products: This segment includes all industry facets (upstream, midstream, downstream) with the exclusion of direct exploration and production. Focus areas encompass differentiated products and services, equipment and tool rentals, consumable products, and drilling and completion chemicals. Industrial technologies: Covering automation and process controls, handling and packaging equipment, industrial filtration and fluid handling, measurement, monitoring, and testing solutions, professional tools, and sensors and instrumentation. Specialty chemicals and products: This segment targets businesses involved in the development and manufacture of highly differentiated products such as adhesives, coatings, sealants, catalysts, absorbents, cosmeceuticals, fine chemicals, flavors, fragrances, performance lubricants, polymers, plastics, composites, chemical dispensing and filtration equipment, professional and industrial trade consumables and tools, engineered solutions for HVAC, plumbing, and electrical installations, and specified high-performance materials for fire protection and oilfield applications. Additionally, the firm considers exceptional opportunities within building products. Beyond direct investments, Capital Southwest allocates capital to syndicated first and second lien term loans in the upper middle market. The criteria for these syndicated loans include: First Lien: Companies with EBITDA over $30 million, closing leverage exceeding 4x, an investment hold size between $5 million and $7 million, and an investment yield greater than 6.5%. Second Lien: Companies with EBITDA surpassing $50 million, closing leverage above 6x, an investment hold size between $5 million and $7 million, and an investment yield exceeding 9%. The firm's investment sizes typically range from $5 million to $25 million for securities generally. Specifically, equity investments can range from $5 million to $50 million, while debt investments typically fall between $5 million and $20 million. Co-investment transaction sizes can extend up to $40 million. While its equity co-investments are exclusively non-controlling, the firm generally maintains flexibility in taking both majority and minority positions across its investment portfolio. Capital Southwest has the capacity to hold investments for extended periods and may also utilize warrants as an investment mechanism. The firm prioritizes obtaining Board representation in its portfolio companies. Capital Southwest Corporation was established on April 19, 1961, and is headquartered in Dallas, Texas.

Dallas, TX

36 employees

www.capitalsouthwest.com

Financial Services / Asset Management

Sector: Financial Services
Industry: Asset Management
CEO: Michael Scott Sarner

View full financials

Operating Cash Flow

Basis: latest reported fiscal quarter. Source: stored company filings; unavailable inputs remain N/A.

The latest quarterly operating cash flow is ($80.87M) with QoQ Growth of (36.75%). Operating cash flow is the cash generated by core business operations before capital expenditures.

Free Cash Flow|Capital Expenditure|Net Income|Cash Flow Statement|All Metrics

Operating Cash Flow

CSWC Operating Cash Flow

$-80.87M

Reported quarterly operating cash flow; no daily interpolation. Q1 FY2027 (2026-06-30): $-80.87M.

-122.76% over 10Y

CSWC Quarterly Operating Cash Flow Growth (YoY)

Operating Cash Flow growth vs the same fiscal quarter in the prior fiscal year, last 40 comparable quarters.

Quarterly Operating Cash Flow History

Period	Operating Cash Flow	QoQ Growth	YoY Growth
Q1 FY2027Period end 2026-06-30	($80.87M)	(36.75%)	N/A
Q4 FY2026Period end 2026-03-31	($59.14M)	N/A	+5.94%
Q3 FY2026Period end 2025-12-31	$33.88M	N/A	N/A
Q2 FY2026Period end 2025-09-30	($71.22M)	N/A	(198.87%)
Q1 FY2026Period end 2025-06-30	$30.49M	N/A	(2.03%)
Q4 FY2025Period end 2025-03-31	($62.87M)	+62.08%	+38.41%
Q3 FY2025Period end 2024-12-31	($165.82M)	(595.83%)	N/A
Q2 FY2025Period end 2024-09-30	($23.83M)	N/A	+0.00%
Q1 FY2025Period end 2024-06-30	$31.13M	N/A	N/A
Q4 FY2024Period end 2024-03-31	($102.09M)	N/A	(205.19%)
Q3 FY2024Period end 2023-12-31	$18.01M	N/A	N/A
Q2 FY2024Period end 2023-09-30	($23.83M)	+57.16%	N/A
Q1 FY2024Period end 2023-06-30	($55.63M)	(66.29%)	+20.31%
Q4 FY2023Period end 2023-03-31	($33.45M)	+65.90%	N/A
Q3 FY2023Period end 2022-12-31	($98.09M)	N/A	N/A
Q2 FY2023Period end 2022-09-30	$26.15M	N/A	+112.89%
Q1 FY2023Period end 2022-06-30	($69.80M)	N/A	+30.40%
Q4 FY2022Period end 2022-03-31	$7.88M	(67.28%)	(29.04%)
Q3 FY2022Period end 2021-12-31	$24.09M	+96.13%	N/A
Q2 FY2022Period end 2021-09-30	$12.29M	N/A	+41.32%
Q1 FY2022Period end 2021-06-30	($100.29M)	N/A	(337.98%)
Q4 FY2021Period end 2021-03-31	$11.11M	N/A	+599.18%
Q3 FY2021Period end 2020-12-31	$1.09M	(87.40%)	N/A
Q2 FY2021Period end 2020-09-30	$8.69M	N/A	+428.13%
Q1 FY2021Period end 2020-06-30	($22.90M)	N/A	(643.47%)
Q4 FY2020Period end 2020-03-31	$1.59M	N/A	N/A
Q3 FY2020Period end 2019-12-31	($22.74M)	N/A	N/A
Q2 FY2020Period end 2019-09-30	$1.65M	N/A	N/A
Q1 FY2020Period end 2019-06-30	($3.08M)	+82.04%	+83.10%
Q4 FY2019Period end 2019-03-31	($17.15M)	N/A	(38.39%)
Q3 FY2019Period end 2018-12-31	$511,000	N/A	N/A
Q2 FY2019Period end 2018-09-30	($59.84M)	(228.33%)	(817.99%)
Q1 FY2019Period end 2018-06-30	($18.23M)	(47.11%)	(542.70%)
Q4 FY2018Period end 2018-03-31	($12.39M)	+70.58%	+28.13%
Q3 FY2018Period end 2017-12-31	($42.12M)	(546.08%)	(8.06%)
Q2 FY2018Period end 2017-09-30	($6.52M)	(129.87%)	+82.04%
Q1 FY2018Period end 2017-06-30	($2.84M)	+83.55%	N/A
Q4 FY2017Period end 2017-03-31	($17.24M)	+55.77%	+83.42%
Q3 FY2017Period end 2016-12-31	($38.98M)	(7.36%)	+3.60%
Q2 FY2017Period end 2016-09-30	($36.30M)	N/A	(134.03%)
Q1 FY2017Period end 2016-06-30	$2.96M	N/A	N/A
Q4 FY2016Period end 2016-03-31	($104.00M)	(157.23%)	(328.33%)
Q3 FY2016Period end 2015-12-31	($40.43M)	(160.63%)	N/A
Q2 FY2016Period end 2015-09-30	($15.51M)	(29.06%)	N/A
Q1 FY2016Period end 2015-06-30	($12.02M)	+50.50%	N/A
Q4 FY2015Period end 2015-03-31	($24.28M)	N/A	N/A
Q3 FY2015Period end 2014-12-31	$127.97M	+268.79%	N/A
Q2 FY2015Period end 2014-09-30	$34.70M	+2170.88%	N/A
Q1 FY2015Period end 2014-06-30	$1.53M	(91.94%)	N/A
Q4 FY2014Period end 2014-03-31	$18.95M	N/A	(24.21%)
Q3 FY2014Period end 2013-12-31	($1.81M)	+8.73%	N/A
Q2 FY2014Period end 2013-09-30	($1.98M)	+81.20%	+67.25%
Q1 FY2014Period end 2013-06-30	($10.54M)	N/A	N/A
Q4 FY2013Period end 2013-03-31	$25.01M	+170.92%	+754.32%
Q3 FY2013Period end 2012-12-31	$9.23M	N/A	(19.00%)
Q2 FY2013Period end 2012-09-30	($6.05M)	N/A	N/A
Q1 FY2013Period end 2012-06-30	$66.15M	+2160.13%	N/A
Q4 FY2012Period end 2012-03-31	$2.93M	(74.31%)	N/A
Q3 FY2012Period end 2011-12-31	$11.39M	(38.57%)	N/A
Q2 FY2012Period end 2011-09-30	$18.55M	N/A	N/A
Q1 FY2012Period end 2011-06-30	($9.32M)	(168.53%)	N/A
Q4 FY2011Period end 2011-03-31	($3.47M)	(28.24%)	N/A
Q3 FY2011Period end 2010-12-31	($2.71M)	N/A	N/A
Q2 FY2011Period end 2010-09-30	($989,000)	N/A	+73.80%
Q1 FY2011Period end 2010-06-30	$75.40M	N/A	N/A
Q4 FY2010Period end 2010-03-31	$202,182	N/A	N/A
Q3 FY2010Period end 2009-12-31	($541,845)	+85.65%	N/A
Q2 FY2010Period end 2009-09-30	($3.78M)	(39.55%)	+15.20%
Q1 FY2010Period end 2009-06-30	($2.71M)	(66.00%)	N/A
Q4 FY2009Period end 2009-03-31	($1.63M)	N/A	N/A
Q3 FY2009Period end 2008-12-31	$22.87M	N/A	+1300.49%
Q2 FY2009Period end 2008-09-30	($4.45M)	N/A	N/A
Q1 FY2009Period end 2008-06-30	$983,929	N/A	N/A
Q4 FY2008Period end 2008-03-31	($621,410)	N/A	+93.58%
Q3 FY2008Period end 2007-12-31	$1.63M	N/A	(95.07%)
Q2 FY2008Period end 2007-09-30	$607,482	N/A	(94.64%)
Q1 FY2008Period end 2007-06-30	($7.03M)	+27.38%	N/A
Q4 FY2007Period end 2007-03-31	($9.69M)	N/A	(335.77%)
Q3 FY2007Period end 2006-12-31	$33.11M	+192.09%	+336.73%
Q2 FY2007Period end 2006-09-30	$11.34M	N/A	+198.32%
Q1 FY2007Period end 2006-06-30	$1.10M	N/A	(74.61%)
Q4 FY2006Period end 2006-03-31	($2.22M)	N/A	N/A
Q3 FY2006Period end 2005-12-31	$7.58M	+99.52%	+500.23%
Q2 FY2006Period end 2005-09-30	$3.80M	(12.54%)	N/A
Q1 FY2006Period end 2005-06-30	$4.35M	+51.64%	N/A
Q4 FY2005Period end 2005-03-31	$2.87M	+126.84%	(72.90%)
Q3 FY2005Period end 2004-12-31	$1.26M	N/A	N/A
Q2 FY2005Period end 2004-09-30	$141,621	N/A	N/A
Q1 FY2005Period end 2004-06-30	$497,981	(95.29%)	N/A
Q4 FY2004Period end 2004-03-31	$10.57M	N/A	N/A
Q3 FY2004Period end 2003-12-31	$440,339	N/A	N/A
Q2 FY2004Period end 2003-09-30	($2.22M)	N/A	+95.37%
Q1 FY2004Period end 2003-06-30	$521,098	N/A	N/A
Q4 FY2003Period end 2003-03-31	$225,152	N/A	N/A
Q3 FY2003Period end 2002-12-31	$920,373	N/A	N/A
Q2 FY2003Period end 2002-09-30	($47.96M)	N/A	N/A

Growth uses unique fiscal quarters. Missing or ambiguous prior periods render N/A.