BlackRock TCP Capital Key Executives
This section highlights BlackRock TCP Capital's key executives, including their titles and compensation details.
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BlackRock TCP Capital Earnings
This section highlights BlackRock TCP Capital's earnings, including key dates, EPS, earnings reports, and earnings call transcripts.
Next Earnings Date
Last Earnings Results
Earnings Call Transcripts
| Transcript | Quarter | Year | Date | Estimated EPS | Actual EPS |
|---|---|---|---|---|---|
| Read Transcript | Q4 | 2024 | 2025-02-27 | $0.38 | $0.38 |
| Read Transcript | Q3 | 2024 | 2024-11-06 | $0.40 | $0.36 |
| Read Transcript | Q2 | 2024 | 2024-08-07 | $0.42 | $0.42 |
| Read Transcript | Q1 | 2024 | 2024-05-01 | $0.45 | $0.45 |
| Read Transcript | Q4 | 2023 | 2024-02-29 | $0.48 | $0.44 |
| Read Transcript | Q3 | 2023 | 2023-11-02 | $0.47 | $0.49 |
| Read Transcript | Q2 | 2023 | 2023-08-03 | $0.43 | $0.48 |
| Read Transcript | Q1 | 2023 | 2023-05-04 | $0.41 | $0.43 |
BlackRock TCP Capital Corp. is a business development company specializing in direct equity and debt investments in middle-market, debt securities, senior secured loans, junior loans, originated loans, mezzanine, senior debt instruments, bonds, and secondary-market investments. It typically invests in communication services, public relations services, television, wireless telecommunication services, apparel, textile mills, restaurants, retailing, energy, oil and gas extraction, Patent owners and Lessors, Federal and Federally- Sponsored Credit agencies, insurance, hospital and healthcare centers, Biotechnology, engineering services, heavy electrical equipment, tax accounting, scientific and related consulting services, charter freight air transportation, Information technology consulting, application hosting services, software diagram and design, computer aided design, communication equipment, electronics manufacturing equipment, computer components, chemicals. It seeks to invest in the United States. The fund typically invests between $10 million and $35 million in companies with enterprise values between $100 million and $1500 million including complex situations. It prefers to make equity investments in companies for an ownership stake.
$8.01
Stock Price
$681.47M
Market Cap
21.10K
Employees
Santa Monica, CA
Location
Financial Statements
Access annual & quarterly financial statements for BlackRock TCP Capital, including income statements, balance sheets, and cash flow statements..
Annual Income Statement
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 |
|---|---|---|---|---|---|
| Revenue | $259.44M | $209.33M | $181.00M | $165.11M | $172.10M |
| Cost of Revenue | $- | $- | $- | $- | $- |
| Gross Profit | $259.44M | $209.33M | $181.00M | $165.11M | $172.10M |
| Gross Profit Ratio | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
| Research and Development Expenses | $- | $- | $- | $- | $- |
| General and Administrative Expenses | $3.20M | $54.16M | $52.57M | $50.96M | $46.94M |
| Selling and Marketing Expenses | $- | $558.02K | $638.01K | $615.90K | $700.32K |
| Selling General and Administrative Expenses | $3.20M | $54.71M | $53.21M | $51.57M | $47.64M |
| Other Expenses | $123.96M | $- | $- | $- | $- |
| Operating Expenses | $127.16M | $54.71M | $53.21M | $51.57M | $47.64M |
| Cost and Expenses | $127.16M | $54.71M | $53.21M | $51.57M | $47.64M |
| Interest Income | $251.41M | $194.64M | $164.87M | $149.81M | $150.35M |
| Interest Expense | $66.16M | $43.95M | $35.52M | $35.71M | $36.49M |
| Depreciation and Amortization | $- | $-154.61M | $-127.80M | $-113.53M | $-124.46M |
| EBITDA | $- | $- | $- | $- | $- |
| EBITDA Ratio | 0.00% | 41.22% | 7062.61% | 87.22% | 81.96% |
| Operating Income | $132.28M | $154.61M | $127.80M | $113.53M | $124.46M |
| Operating Income Ratio | 50.99% | 73.86% | 70.61% | 68.76% | 72.32% |
| Total Other Income Expenses Net | $-194.90M | $-115.89M | $-137.02M | $20.26M | $-53.08M |
| Income Before Tax | $-62.61M | $38.72M | $-9.23M | $133.79M | $71.37M |
| Income Before Tax Ratio | -24.13% | 18.50% | -5.10% | 81.03% | 41.47% |
| Income Tax Expense | $522.55K | $247.31K | $- | $- | $- |
| Net Income | $-63.14M | $38.47M | $-9.23M | $133.79M | $71.37M |
| Net Income Ratio | -24.34% | 18.38% | -3950.43% | 87.22% | 81.96% |
| EPS | $1.66 | $0.67 | $-0.16 | $2.32 | $1.23 |
| EPS Diluted | $1.66 | $0.67 | $-0.16 | $2.32 | $1.23 |
| Weighted Average Shares Outstanding | 79.67M | 57.77M | 57.77M | 57.77M | 57.99M |
| Weighted Average Shares Outstanding Diluted | 79.67M | 57.77M | 57.77M | 57.77M | 57.99M |
| SEC Filing | Source | Source | Source | Source | Source |
| Breakdown | December 31, 2024 | September 30, 2024 | June 30, 2024 | March 31, 2024 | December 31, 2023 | September 30, 2023 | June 30, 2023 | March 31, 2023 | December 31, 2022 | September 30, 2022 | June 30, 2022 | March 31, 2022 | December 31, 2021 | September 30, 2021 | June 30, 2021 | March 31, 2021 | December 31, 2020 | September 30, 2020 | June 30, 2020 | March 31, 2020 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $-33.38M | $70.93M | $71.53M | $55.73M | $50.85M | $54.21M | $53.96M | $50.31M | $46.69M | $48.21M | $43.96M | $42.15M | $39.58M | $42.72M | $41.64M | $41.16M | $42.89M | $42.85M | $45.11M | $41.25M |
| Cost of Revenue | $- | $1.27M | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Gross Profit | $-33.38M | $69.67M | $71.53M | $55.73M | $50.85M | $54.21M | $53.96M | $50.31M | $46.69M | $48.21M | $43.96M | $42.15M | $39.58M | $42.72M | $41.64M | $41.16M | $42.89M | $42.85M | $45.11M | $41.25M |
| Gross Profit Ratio | 100.00% | 98.20% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
| Research and Development Expenses | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| General and Administrative Expenses | $2.91M | $842.39K | $15.77M | $14.09M | $13.42M | $13.61M | $13.93M | $13.20M | $13.06M | $13.50M | $13.13M | $12.87M | $12.10M | $13.36M | $13.02M | $12.48M | $12.81M | $12.82M | $13.24M | $8.07M |
| Selling and Marketing Expenses | $- | $- | $205.95K | $145.11K | $131.23K | $134.21K | $138.57K | $154.00K | $129.32K | $146.57K | $181.06K | $181.06K | $181.06K | $149.84K | $150.00K | $135.00K | $175.08K | $175.08K | $175.08K | $175.08K |
| Selling General and Administrative Expenses | $2.91M | $842.39K | $15.97M | $14.24M | $13.55M | $13.74M | $14.07M | $13.35M | $13.19M | $13.65M | $13.32M | $13.05M | $12.29M | $13.51M | $13.17M | $12.62M | $12.99M | $13.00M | $13.42M | $8.24M |
| Other Expenses | $-36.29M | $34.95M | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Operating Expenses | $-33.38M | $35.79M | $15.97M | $14.24M | $13.55M | $13.74M | $14.07M | $13.35M | $13.19M | $13.65M | $13.32M | $13.05M | $12.29M | $13.51M | $13.17M | $12.62M | $12.99M | $13.00M | $13.42M | $8.24M |
| Cost and Expenses | $-33.38M | $37.05M | $15.97M | $14.24M | $13.55M | $13.74M | $14.07M | $13.35M | $13.19M | $13.65M | $13.32M | $13.05M | $12.29M | $13.51M | $13.17M | $12.62M | $12.99M | $13.00M | $13.42M | $8.24M |
| Interest Income | $67.90M | $65.01M | $69.03M | $52.20M | $48.40M | $49.74M | $49.09M | $47.41M | $42.39M | $44.04M | $39.08M | $39.37M | $36.13M | $39.38M | $38.78M | $35.53M | $29.56M | $39.82M | $40.33M | $38.22M |
| Interest Expense | $16.31M | $21.16M | $19.73M | $12.15M | $11.84M | $12.13M | $12.29M | $10.63M | $9.51M | $10.17M | $9.37M | $9.35M | $8.38M | $10.52M | $10.71M | $8.81M | $8.74M | $9.73M | $10.65M | $10.96M |
| Depreciation and Amortization | $- | $8.92M | $-55.55M | $-41.49M | $-37.30M | $-40.47M | $-39.89M | $-36.96M | $-33.50M | $-34.56M | $-30.64M | $-29.10M | $-27.30M | $-29.21M | $-28.48M | $-28.55M | $-29.90M | $-29.85M | $-31.70M | $-33.01M |
| EBITDA | $- | $42.79M | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| EBITDA Ratio | 0.00% | 60.33% | -87.61% | 32.91% | -2.93% | 195.71% | 150.29% | 98.65% | 95.83% | 129.64% | -1486.44% | 148.84% | 114.35% | 112.15% | 114.94% | 114.25% | 110.95% | 110.25% | 116.99% | -144.90% |
| Operating Income | $43.43M | $33.88M | $55.55M | $41.49M | $37.30M | $40.47M | $39.89M | $36.96M | $33.50M | $34.56M | $30.64M | $29.10M | $27.30M | $29.21M | $28.48M | $28.55M | $29.90M | $29.85M | $31.70M | $33.01M |
| Operating Income Ratio | -130.12% | 47.76% | 77.67% | 74.45% | 73.35% | 74.65% | 73.93% | 73.46% | 71.75% | 71.69% | 69.71% | 69.04% | 68.96% | 68.38% | 68.39% | 69.35% | 69.71% | 69.67% | 70.26% | 80.02% |
| Total Other Income Expenses Net | $-81.46M | $-12.24M | $-106.83M | $-36.43M | $-50.41M | $-27.63M | $-23.64M | $-14.21M | $-81.28M | $-8.32M | $-30.77M | $-16.65M | $5.29M | $-18.31M | $26.35M | $6.94M | $18.09M | $16.66M | $14.65M | $-102.49M |
| Income Before Tax | $-38.03M | $21.63M | $-51.28M | $5.06M | $-13.11M | $12.84M | $16.25M | $22.75M | $-47.79M | $26.24M | $-128.07K | $12.45M | $32.58M | $10.90M | $54.83M | $35.48M | $47.99M | $46.52M | $46.35M | $-69.48M |
| Income Before Tax Ratio | 113.93% | 30.50% | -71.69% | 9.07% | -25.79% | 23.68% | 30.12% | 45.22% | -102.35% | 54.43% | -0.29% | 29.53% | 82.32% | 25.51% | 131.65% | 86.20% | 111.89% | 108.56% | 102.74% | -168.43% |
| Income Tax Expense | $522.55K | $- | $- | $- | $198.71K | $13.16K | $- | $35.44K | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Net Income | $-38.55M | $21.63M | $-51.28M | $5.06M | $-13.31M | $12.82M | $16.25M | $22.71M | $-47.79M | $26.24M | $-128.07K | $12.45M | $32.58M | $10.90M | $54.83M | $35.48M | $47.99M | $46.52M | $46.35M | $-69.48M |
| Net Income Ratio | 115.49% | 30.50% | -142.39% | 9.10% | -26.44% | 88.57% | 88.48% | 88.19% | -107.50% | 136.22% | -6.19% | 85.02% | 90.96% | 57.06% | 96.16% | 91.53% | 93.86% | 91.18% | 95.14% | -168.43% |
| EPS | $-0.48 | $0.25 | $-0.60 | $0.08 | $-0.23 | $0.22 | $0.28 | $0.39 | $-0.83 | $0.45 | $0.00 | $0.22 | $0.56 | $0.19 | $0.95 | $0.61 | $0.83 | $0.81 | $0.80 | $-1.18 |
| EPS Diluted | $-0.48 | $0.25 | $-0.60 | $0.08 | $-0.23 | $0.22 | $0.28 | $0.39 | $-0.83 | $0.45 | $0.00 | $0.22 | $0.56 | $0.19 | $0.95 | $0.61 | $0.83 | $0.81 | $0.80 | $-1.18 |
| Weighted Average Shares Outstanding | 79.67M | 85.59M | 85.59M | 62.05M | 57.77M | 57.77M | 57.77M | 57.77M | 57.77M | 57.77M | 57.77M | 57.77M | 57.77M | 57.77M | 57.77M | 57.77M | 57.77M | 57.77M | 57.77M | 58.67M |
| Weighted Average Shares Outstanding Diluted | 79.67M | 85.59M | 85.59M | 62.05M | 57.77M | 57.77M | 57.77M | 57.77M | 57.77M | 57.77M | 57.77M | 57.77M | 57.77M | 57.77M | 57.77M | 57.77M | 57.77M | 57.77M | 57.77M | 58.67M |
| SEC Filing | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source | Source |
Annual Balance Sheet
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 |
|---|---|---|---|---|---|
| Cash and Cash Equivalents | $91.59M | $112.24M | $82.44M | $19.55M | $20.01M |
| Short Term Investments | $- | $- | $- | $- | $- |
| Cash and Short Term Investments | $91.59M | $112.24M | $82.44M | $19.55M | $20.01M |
| Net Receivables | $22.78M | $25.65M | $20.90M | $26.09M | $15.85M |
| Inventory | $- | $- | $- | $- | $- |
| Other Current Assets | $2.36M | $2.27M | $2.83M | $2.67M | $1.58M |
| Total Current Assets | $114.37M | $140.16M | $106.16M | $48.30M | $37.44M |
| Property Plant Equipment Net | $- | $- | $- | $- | $- |
| Goodwill | $- | $- | $- | $- | $- |
| Intangible Assets | $- | $- | $- | $- | $- |
| Goodwill and Intangible Assets | $- | $- | $- | $- | $- |
| Long Term Investments | $1.79B | $1.55B | $1.61B | $1.84B | $1.63B |
| Tax Assets | $- | $- | $- | $- | $- |
| Other Non-Current Assets | $-1.79B | $3.67M | $3.60M | $4.79M | $4.98M |
| Total Non-Current Assets | $1.79B | $1.56B | $1.61B | $1.85B | $1.63B |
| Other Assets | $13.90M | $- | $- | $- | $- |
| Total Assets | $1.92B | $1.70B | $1.72B | $1.89B | $1.67B |
| Account Payables | $8.41M | $960.00K | $14.09M | $18.01M | $21.16M |
| Short Term Debt | $- | $- | $- | $- | $- |
| Tax Payables | $- | $- | $- | $- | $- |
| Deferred Revenue | $- | $- | $-929.92M | $-972.60M | $-806.85M |
| Other Current Liabilities | $-8.41M | $25.01M | $-14.09M | $-18.01M | $-21.16M |
| Total Current Liabilities | $15.09M | $25.97M | $14.09M | $39.86M | $43.16M |
| Long Term Debt | $- | $985.20M | $944.01M | $1.01B | $850.02M |
| Deferred Revenue Non-Current | $- | $- | $972.60M | $1.06B | $907.00M |
| Deferred Tax Liabilities Non-Current | $- | $- | $-972.60M | $-52.31M | $-56.98M |
| Other Non-Current Liabilities | $- | $- | $-944.01M | $-1.01B | $-850.02M |
| Total Non-Current Liabilities | $- | $985.20M | $14.09M | $1.01B | $850.02M |
| Other Liabilities | $1.14B | $- | $944.42M | $12.45M | $13.82M |
| Total Liabilities | $1.14B | $1.01B | $972.60M | $1.06B | $907.00M |
| Preferred Stock | $- | $- | $- | $- | $- |
| Common Stock | $85.08K | $57.77K | $57.77K | $57.77K | $57.77K |
| Retained Earnings | $- | $-280.10M | $-221.19M | $-137.01M | $-215.04M |
| Accumulated Other Comprehensive Income Loss | $- | $- | $-0 | $0 | $-0 |
| Other Total Stockholders Equity | $785.04M | $967.64M | $967.89M | $966.41M | $979.97M |
| Total Stockholders Equity | $785.12M | $687.60M | $746.75M | $829.46M | $764.99M |
| Total Equity | $785.12M | $687.60M | $1.61B | $1.82B | $1.59B |
| Total Liabilities and Stockholders Equity | $1.92B | $1.70B | $1.72B | $1.89B | $1.67B |
| Minority Interest | $- | $- | $861.57M | $992.91M | $830.01M |
| Total Liabilities and Total Equity | $1.92B | $1.70B | $1.72B | $1.89B | $1.67B |
| Total Investments | $1.79B | $1.55B | $1.61B | $1.84B | $1.63B |
| Total Debt | $- | $985.20M | $944.01M | $1.01B | $850.02M |
| Net Debt | $-91.59M | $872.96M | $861.57M | $992.91M | $830.01M |
Balance Sheet Charts
| Breakdown | December 31, 2024 | September 30, 2024 | June 30, 2024 | March 31, 2024 | December 31, 2023 | September 30, 2023 | June 30, 2023 | March 31, 2023 | December 31, 2022 | September 30, 2022 | June 30, 2022 | March 31, 2022 | December 31, 2021 | September 30, 2021 | June 30, 2021 | March 31, 2021 | December 31, 2020 | September 30, 2020 | June 30, 2020 | March 31, 2020 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and Cash Equivalents | $91.59M | $104.18M | $194.67M | $120.57M | $112.24M | $91.65M | $123.13M | $98.79M | $82.44M | $105.79M | $49.43M | $43.65M | $19.55M | $36.59M | $17.88M | $14.25M | $20.01M | $35.45M | $20.65M | $8.57M |
| Short Term Investments | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Cash and Short Term Investments | $91.59M | $104.18M | $194.67M | $120.57M | $112.24M | $91.65M | $123.13M | $98.79M | $82.44M | $105.79M | $49.43M | $43.65M | $19.55M | $36.59M | $17.88M | $14.25M | $20.01M | $35.45M | $20.65M | $8.57M |
| Net Receivables | $28.09M | $25.79M | $33.56M | $37.08M | $25.65M | $26.66M | $24.07M | $22.39M | $20.90M | $19.54M | $19.57M | $21.69M | $26.09M | $32.57M | $32.89M | $45.52M | $15.85M | $16.27M | $17.77M | $18.92M |
| Inventory | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Current Assets | $-28.09M | $- | $4.07M | $3.44M | $2.27M | $3.47M | $1.94M | $2.59M | $2.83M | $3.61M | $2.44M | $3.33M | $2.67M | $2.02M | $914.09K | $2.02M | $1.58M | $3.01M | $4.41M | $4.92M |
| Total Current Assets | $91.59M | $129.97M | $232.29M | $161.09M | $140.16M | $121.78M | $149.14M | $123.77M | $106.16M | $128.95M | $71.44M | $68.67M | $48.30M | $71.18M | $51.69M | $61.79M | $37.44M | $54.73M | $42.83M | $32.41M |
| Property Plant Equipment Net | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Goodwill | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Intangible Assets | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Goodwill and Intangible Assets | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Long Term Investments | $1.79B | $1.91B | $1.98B | $2.12B | $1.55B | $1.59B | $1.64B | $1.67B | $1.61B | $1.68B | $1.80B | $1.80B | $1.84B | $1.76B | $1.83B | $1.74B | $1.63B | $1.63B | $1.61B | $1.63B |
| Tax Assets | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Non-Current Assets | $-1.79B | $- | $5.48M | $6.02M | $3.67M | $4.06M | $3.04M | $3.30M | $3.60M | $3.90M | $4.20M | $4.49M | $4.79M | $4.95M | $5.24M | $4.69M | $4.98M | $5.28M | $5.70M | $5.07M |
| Total Non-Current Assets | $1.83B | $1.91B | $1.99B | $2.12B | $1.56B | $1.60B | $1.64B | $1.67B | $1.61B | $1.68B | $1.80B | $1.80B | $1.85B | $1.76B | $1.83B | $1.74B | $1.63B | $1.63B | $1.61B | $1.63B |
| Other Assets | $1.92B | $8.64M | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Assets | $1.92B | $2.05B | $2.22B | $2.28B | $1.70B | $1.72B | $1.79B | $1.79B | $1.72B | $1.81B | $1.87B | $1.87B | $1.89B | $1.83B | $1.88B | $1.80B | $1.67B | $1.69B | $1.66B | $1.66B |
| Account Payables | $8.41M | $11.61M | $13.29M | $5.73M | $11.37M | $3.78M | $9.94M | $4.04M | $14.09M | $3.92M | $9.62M | $3.21M | $18.01M | $25.59M | $34.08M | $6.61M | $21.16M | $9.51M | $11.31M | $9.25M |
| Short Term Debt | $- | $- | $249.91M | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Tax Payables | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Deferred Revenue | $- | $- | $-262.36M | $-1.67M | $238.23M | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $-292.02M | $- | $- | $- | $- |
| Other Current Liabilities | $-8.41M | $-11.61M | $-237.94M | $21.51M | $14.60M | $-3.78M | $-9.94M | $-4.04M | $-14.09M | $-3.92M | $13.98M | $-3.21M | $-18.01M | $-25.59M | $-34.08M | $-6.61M | $-21.16M | $-9.51M | $-11.31M | $-9.25M |
| Total Current Liabilities | $- | $18.59M | $25.26M | $27.24M | $249.60M | $3.78M | $9.94M | $4.04M | $14.09M | $3.92M | $23.61M | $3.21M | $39.86M | $34.34M | $57.78M | $22.17M | $43.16M | $9.51M | $11.31M | $9.25M |
| Long Term Debt | $- | $- | $- | $1.30B | $735.60M | $970.37M | $1.02B | $1.02B | $944.01M | $983.87M | $- | $1.03B | $1.01B | $977.84M | $991.09M | $982.98M | $850.02M | $931.75M | $926.61M | $965.46M |
| Deferred Revenue Non-Current | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Deferred Tax Liabilities Non-Current | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Non-Current Liabilities | $- | $- | $- | $-1.30B | $249.60M | $-970.37M | $-1.02B | $-1.02B | $-944.01M | $-983.87M | $- | $-1.03B | $-1.01B | $-977.84M | $-991.09M | $-982.98M | $-850.02M | $-931.75M | $-926.61M | $-965.46M |
| Total Non-Current Liabilities | $- | $- | $1.32B | $1.30B | $761.57M | $970.37M | $1.02B | $4.04M | $14.09M | $3.92M | $1.04B | $3.21M | $39.86M | $977.84M | $991.09M | $982.98M | $850.02M | $931.75M | $926.61M | $965.46M |
| Other Liabilities | $1.14B | $1.18B | $- | $- | $- | $10.02M | $14.08M | $1.03B | $944.42M | $987.97M | $- | $1.04B | $985.06M | $7.12M | $13.48M | $13.58M | $13.82M | $13.18M | $13.04M | $9.11M |
| Total Liabilities | $1.14B | $1.18B | $1.35B | $1.33B | $1.01B | $984.17M | $1.05B | $1.04B | $972.60M | $995.81M | $1.07B | $1.04B | $1.06B | $1.02B | $1.06B | $1.02B | $907.00M | $954.44M | $950.97M | $983.82M |
| Preferred Stock | $- | $- | $- | $- | $- | $- | $- | $0 | $- | $- | $0 | $0 | $- | $0 | $- | $- | $- | $- | $- | $0 |
| Common Stock | $85.08K | $85.59K | $85.59K | $85.59K | $57.77K | $57.77K | $57.77K | $57.77K | $57.77K | $57.77K | $57.77K | $57.77K | $57.77K | $57.77K | $57.77K | $57.77K | $57.77K | $57.77K | $57.77K | $57.77K |
| Retained Earnings | $-946.02M | $-382.53M | $-375.06M | $-294.68M | $-280.10M | $-232.95M | $-220.36M | $-216.97M | $-221.19M | $-147.25M | $-156.15M | $-138.70M | $-137.01M | $-165.83M | $-159.39M | $-196.89M | $-215.04M | $-257.02M | $-286.20M | $-311.76M |
| Accumulated Other Comprehensive Income Loss | $- | $- | $- | $0 | $- | $-0 | $-0 | $-0 | $-0 | $- | $-0 | $-0 | $0 | $-0 | $- | $-0 | $-0 | $- | $-0 | $-0 |
| Other Total Stockholders Equity | $1.73B | $1.25B | $1.25B | $1.25B | $967.64M | $967.89M | $967.89M | $967.89M | $967.89M | $963.10M | $963.10M | $963.10M | $966.41M | $979.97M | $979.97M | $979.97M | $979.97M | $991.29M | $991.29M | $991.28M |
| Total Stockholders Equity | $785.12M | $865.64M | $873.10M | $953.48M | $687.60M | $735.00M | $747.59M | $750.98M | $746.75M | $815.91M | $807.00M | $824.46M | $829.46M | $814.20M | $820.64M | $783.14M | $764.99M | $734.33M | $705.14M | $679.58M |
| Total Equity | $785.12M | $865.64M | $873.10M | $953.48M | $687.60M | $735.00M | $747.59M | $750.98M | $746.75M | $815.91M | $807.00M | $824.46M | $829.46M | $814.20M | $820.64M | $783.14M | $764.99M | $734.33M | $705.14M | $679.58M |
| Total Liabilities and Stockholders Equity | $1.92B | $2.05B | $2.22B | $2.28B | $1.70B | $1.72B | $1.79B | $1.79B | $1.72B | $1.81B | $1.87B | $1.87B | $1.89B | $1.83B | $1.88B | $1.80B | $1.67B | $1.69B | $1.66B | $1.66B |
| Minority Interest | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Liabilities and Total Equity | $1.92B | $2.05B | $2.22B | $2.28B | $1.70B | $1.72B | $1.79B | $1.79B | $1.72B | $1.81B | $1.87B | $1.87B | $1.89B | $1.83B | $1.88B | $1.80B | $1.67B | $1.69B | $1.66B | $1.66B |
| Total Investments | $1.79B | $1.91B | $1.98B | $2.12B | $1.55B | $1.59B | $1.64B | $1.67B | $1.61B | $1.68B | $1.80B | $1.80B | $1.84B | $1.76B | $1826.06T | $1.74B | $1.63B | $1.63B | $1.61B | $1.63B |
| Total Debt | $- | $1.16B | $1.32B | $1.30B | $985.20M | $970.37M | $1.02B | $1.02B | $944.01M | $983.87M | $1.04B | $1.03B | $1.01B | $977.84M | $991.09M | $982.98M | $850.02M | $931.75M | $926.61M | $965.46M |
| Net Debt | $-91.59M | $-104.18M | $1.13B | $1.18B | $872.96M | $878.72M | $898.00M | $923.83M | $861.57M | $878.08M | $992.47M | $984.26M | $992.91M | $941.25M | $973.20M | $968.73M | $830.01M | $896.30M | $905.96M | $956.88M |
Annual Cash Flow
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 | December 31, 2020 |
|---|---|---|---|---|---|
| Net Income | $67.11M | $38.47M | $-9.23M | $133.79M | $71.37M |
| Depreciation and Amortization | $105.87M | $- | $70.17M | $-6.14M | $-6.14M |
| Deferred Income Tax | $- | $- | $- | $- | $5.87M |
| Stock Based Compensation | $- | $- | $- | $- | $267.12K |
| Change in Working Capital | $-6.54M | $-3.92M | $-21.59M | $-15.99M | $23.84M |
| Accounts Receivables | $- | $- | $5.18M | $-10.24M | $3.37M |
| Inventory | $- | $- | $- | $- | $- |
| Accounts Payables | $- | $- | $-25.58M | $-5.41M | $20.30M |
| Other Working Capital | $-6.54M | $-3.92M | $-1.19M | $-346.68K | $171.84K |
| Other Non Cash Items | $126.68M | $57.90M | $164.59M | $-194.27M | $27.11M |
| Net Cash Provided by Operating Activities | $293.12M | $92.45M | $203.95M | $-82.61M | $122.33M |
| Investments in Property Plant and Equipment | $- | $- | $- | $- | $- |
| Acquisitions Net | $- | $- | $- | $- | $- |
| Purchases of Investments | $-325.79M | $-215.70M | $-330.41M | $-448.84M | $-448.84M |
| Sales Maturities of Investments | $517.09M | $218.67M | $481.46M | $480.72M | $480.72M |
| Other Investing Activities | $- | $- | $- | $- | $- |
| Net Cash Used for Investing Activities | $- | $- | $151.05M | $31.88M | $31.88M |
| Debt Repayment | $-178.27M | $39.28M | $-70.59M | $155.89M | $-60.34M |
| Common Stock Issued | $- | $- | $- | $6.10M | $6.25K |
| Common Stock Repurchased | $-4.52M | $- | $- | $-6.10M | $-6.10M |
| Dividends Paid | $-122.54M | $-100.52M | $-70.48M | $-69.32M | $-76.61M |
| Other Financing Activities | $-8.44M | $-1.41M | $- | $-4.41M | $-4.12M |
| Net Cash Used Provided by Financing Activities | $-313.77M | $-62.65M | $-141.07M | $82.15M | $-147.17M |
| Effect of Forex Changes on Cash | $- | $- | $-151.05M | $-31.88M | $-31.88M |
| Net Change in Cash | $-20.65M | $29.81M | $62.88M | $-454.31K | $-24.84M |
| Cash at End of Period | $91.59M | $112.24M | $82.44M | $19.55M | $20.01M |
| Cash at Beginning of Period | $112.24M | $82.44M | $19.55M | $20.01M | $44.85M |
| Operating Cash Flow | $293.12M | $92.45M | $203.95M | $-82.61M | $122.33M |
| Capital Expenditure | $- | $- | $- | $- | $- |
| Free Cash Flow | $293.12M | $92.45M | $203.95M | $-82.61M | $122.33M |
Cash Flow Charts
| Breakdown | December 31, 2024 | September 30, 2024 | June 30, 2024 | March 31, 2024 | December 31, 2023 | September 30, 2023 | June 30, 2023 | March 31, 2023 | December 31, 2022 | September 30, 2022 | June 30, 2022 | March 31, 2022 | December 31, 2021 | September 30, 2021 | June 30, 2021 | March 31, 2021 | December 31, 2020 | September 30, 2020 | June 30, 2020 | March 31, 2020 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | $-38.55M | $21.63M | $-51.28M | $5.06M | $-13.31M | $12.82M | $16.25M | $22.71M | $-47.79M | $26.24M | $-128.07K | $12.45M | $32.58M | $10.90M | $54.83M | $35.48M | $47.99M | $46.52M | $46.35M | $-69.48M |
| Depreciation and Amortization | $- | $- | $0 | $21.11M | $30.07M | $- | $- | $-30.07M | $70.17M | $- | $- | $4.22M | $-72.71M | $- | $- | $-15.87M | $-6.14M | $- | $- | $94.63M |
| Deferred Income Tax | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $-86.29M | $10.53M | $- | $- | $-61.89M |
| Stock Based Compensation | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $-329.34K | $267.12K | $- | $- | $-4.75M |
| Change in Working Capital | $-4.85M | $4.76M | $985.13K | $-7.44M | $14.39M | $-14.34M | $3.78M | $-7.75M | $13.19M | $-12.81M | $10.07M | $-32.04M | $16.69M | $-30.59M | $49.24M | $-51.33M | $36.14M | $1.24M | $7.65M | $-21.19M |
| Accounts Receivables | $-1.16M | $5.90M | $3.57M | $-472.88K | $1.01M | $-2.59M | $-1.68M | $-1.49M | $-1.36M | $27.60K | $2.12M | $4.39M | $6.48M | $320.39K | $12.62M | $-29.66M | $418.28K | $1.50M | $1.15M | $305.00K |
| Inventory | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Accounts Payables | $- | $- | $-5.90M | $-3.30M | $5.60M | $-4.77M | $-1.43M | $-964.25K | $9.06M | $-6.81M | $516.60K | $-28.35M | $3.64M | $-21.37M | $27.02M | $-14.70M | $- | $- | $- | $- |
| Other Working Capital | $-3.68M | $-1.13M | $3.32M | $-3.67M | $7.78M | $-6.98M | $6.89M | $-5.30M | $5.49M | $-6.04M | $-10.60M | $-8.08M | $6.56M | $-9.54M | $9.60M | $-6.97M | $41.74M | $7.40M | $59.92M | $-76.93M |
| Other Non Cash Items | $115.06M | $75.23M | $80.69M | $30.65M | $34.37M | $48.08M | $25.95M | $-25.30M | $-100.87K | $118.78M | $-3.63M | $42.05M | $-9.92M | $76.14M | $-89.35M | $-2.09M | $-4.26M | $-17.59M | $19.52M | $-3.21M |
| Net Cash Provided by Operating Activities | $71.66M | $101.63M | $28.07M | $24.49M | $35.44M | $46.56M | $45.98M | $-40.42M | $35.47M | $132.21M | $9.59M | $26.68M | $-33.35M | $56.45M | $14.72M | $-120.43M | $84.53M | $30.16M | $73.52M | $-65.89M |
| Investments in Property Plant and Equipment | $- | $- | $-2 | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Acquisitions Net | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Purchases of Investments | $- | $-69.08M | $-126.62M | $-15.39M | $-37.31M | $-88.88M | $-15.08M | $-74.44M | $-330.41M | $-46.24M | $-100.72M | $-111.27M | $-751.30M | $-155.70M | $-234.68M | $-181.28M | $-448.84M | $- | $- | $-140.56M |
| Sales Maturities of Investments | $- | $139.22M | $184.97M | $24.32M | $42.19M | $125.59M | $31.56M | $19.32M | $481.46M | $170.41M | $82.18M | $153.44M | $622.56M | $227.19M | $184.59M | $95.73M | $480.72M | $- | $- | $76.88M |
| Other Investing Activities | $- | $- | $- | $- | $1 | $- | $-1 | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Net Cash Used for Investing Activities | $- | $70.14M | $58.35M | $8.92M | $4.89M | $36.71M | $16.48M | $-55.11M | $151.05M | $124.18M | $-18.54M | $42.17M | $-128.74M | $71.49M | $-50.09M | $-85.55M | $31.88M | $- | $- | $-63.67M |
| Debt Repayment | $-41.37M | $-161.00M | $22.28M | $1.82M | $14.34M | $-52.62M | $-1.97M | $78.14M | $-40.35M | $-58.51M | $13.52M | $14.75M | $33.89M | $-19.04M | $7.11M | $133.93M | $-82.00M | $4.43M | $-40.65M | $56.87M |
| Common Stock Issued | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $-6.25K | $- | $3.21K | $3.04K |
| Common Stock Repurchased | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $6.25K | $- | $- | $-6.10M |
| Dividends Paid | $-37.44M | $-29.10M | $-29.10M | $-26.90M | $-34.08M | $-25.42M | $-19.64M | $-21.37M | $-18.49M | $-17.33M | $-17.33M | $-17.33M | $-17.33M | $-17.33M | $-17.33M | $-17.33M | $-17.33M | $-17.33M | $-20.80M | $-21.16M |
| Other Financing Activities | $-5.45M | $-2.01M | $-5.50M | $- | $- | $- | $-32.97K | $- | $- | $- | $- | $- | $-240.81K | $-1.38M | $-874.00K | $-1.92M | $-645.49K | $-2.46M | $- | $- |
| Net Cash Used Provided by Financing Activities | $-84.25M | $-192.12M | $-12.32M | $-25.08M | $-19.74M | $-78.04M | $-21.64M | $56.77M | $-58.83M | $-75.84M | $-3.81M | $-2.58M | $16.32M | $-37.75M | $-11.09M | $114.68M | $-99.97M | $-15.36M | $-61.45M | $29.61M |
| Effect of Forex Changes on Cash | $- | $- | $- | $- | $-1.92M | $-36.71M | $-16.48M | $55.11M | $-151.05M | $-124.18M | $- | $-42.17M | $128.74M | $- | $- | $85.55M | $-31.88M | $- | $- | $63.67M |
| Net Change in Cash | $-12.59M | $-90.49M | $74.10M | $8.33M | $20.59M | $-31.48M | $24.34M | $16.35M | $-23.36M | $56.37M | $5.78M | $24.10M | $-17.04M | $18.71M | $3.63M | $-5.75M | $-15.44M | $14.80M | $12.07M | $-36.27M |
| Cash at End of Period | $91.59M | $104.18M | $194.67M | $120.57M | $112.24M | $91.65M | $123.13M | $98.79M | $82.44M | $105.79M | $49.43M | $43.65M | $19.55M | $36.59M | $17.88M | $14.25M | $20.01M | $35.45M | $20.65M | $8.57M |
| Cash at Beginning of Period | $104.18M | $194.67M | $120.57M | $112.24M | $91.65M | $123.13M | $98.79M | $82.44M | $105.79M | $49.43M | $43.65M | $19.55M | $36.59M | $17.88M | $14.25M | $20.01M | $35.45M | $20.65M | $8.57M | $44.85M |
| Operating Cash Flow | $71.66M | $101.63M | $28.07M | $24.49M | $35.44M | $46.56M | $45.98M | $-40.42M | $35.47M | $132.21M | $9.59M | $26.68M | $-33.35M | $56.45M | $14.72M | $-120.43M | $84.53M | $30.16M | $73.52M | $-65.89M |
| Capital Expenditure | $- | $2 | $-2 | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- | $- |
| Free Cash Flow | $71.66M | $101.63M | $28.07M | $24.49M | $35.44M | $46.56M | $45.98M | $-40.42M | $35.47M | $132.21M | $9.59M | $26.68M | $-33.35M | $56.45M | $14.72M | $-120.43M | $84.53M | $30.16M | $73.52M | $-65.89M |
BlackRock TCP Capital Dividends
Explore BlackRock TCP Capital's dividend history, including dividend yield, payout ratio, and historical payments.
Dividend Yield
17.66%
Dividend Payout Ratio
-194.08%
Dividend Paid & Capex Coverage Ratio
2.39x
BlackRock TCP Capital Dividend History
| Dividend | Adjusted Dividend | Date | Record Date | Payment Date | Declaration Date |
|---|---|---|---|---|---|
| $0.29 | $0.29 | March 17, 2025 | March 17, 2025 | March 31, 2025 | February 27, 2025 |
| $0.44 | $0.44 | December 17, 2024 | December 17, 2024 | December 31, 2024 | November 06, 2024 |
| $0.34 | $0.34 | September 16, 2024 | September 16, 2024 | September 30, 2024 | August 07, 2024 |
| $0.34 | $0.34 | June 14, 2024 | June 14, 2024 | June 28, 2024 | May 01, 2024 |
| $0.34 | $0.34 | March 13, 2024 | March 14, 2024 | March 29, 2024 | February 27, 2024 |
| $0.59 | $0.59 | December 14, 2023 | December 15, 2023 | December 29, 2023 | November 02, 2023 |
| $0.44 | $0.44 | September 14, 2023 | September 15, 2023 | September 29, 2023 | August 03, 2023 |
| $0.34 | $0.34 | June 15, 2023 | June 16, 2023 | June 30, 2023 | May 04, 2023 |
| $0.32 | $0.32 | March 16, 2023 | March 17, 2023 | March 31, 2023 | February 28, 2023 |
| $0.05 | $0.05 | December 28, 2022 | December 29, 2022 | January 12, 2023 | December 15, 2022 |
| $0.32 | $0.32 | December 15, 2022 | December 16, 2022 | December 30, 2022 | November 03, 2022 |
| $0.3 | $0.3 | September 15, 2022 | September 16, 2022 | September 30, 2022 | August 03, 2022 |
| $0.3 | $0.3 | June 15, 2022 | June 16, 2022 | June 30, 2022 | May 04, 2022 |
| $0.3 | $0.3 | March 16, 2022 | March 17, 2022 | March 31, 2022 | February 24, 2022 |
| $0.3 | $0.3 | December 16, 2021 | December 17, 2021 | December 31, 2021 | November 03, 2021 |
| $0.3 | $0.3 | September 15, 2021 | September 16, 2021 | September 30, 2021 | August 02, 2021 |
| $0.3 | $0.3 | June 15, 2021 | June 16, 2021 | June 30, 2021 | May 05, 2021 |
| $0.3 | $0.3 | March 16, 2021 | March 17, 2021 | March 31, 2021 | February 25, 2021 |
| $0.3 | $0.3 | December 16, 2020 | December 17, 2020 | December 31, 2020 | November 02, 2020 |
| $0.3 | $0.3 | September 15, 2020 | September 16, 2020 | September 30, 2020 | August 06, 2020 |
BlackRock TCP Capital News
Read the latest news about BlackRock TCP Capital, including recent articles, headlines, and updates.
Dividend Cut Alert: 1 BDC And 1 REIT With Likely Lower Dividends In 2025
The current market environment suggests a potential recession, leading investors to favor durable and income-producing assets. BDCs and REITs are likely to be among the key beneficiaries here. However, with REITs and especially BDCs investors have to be careful in order to avoid falling in a value trap.
The Moment Of Truth For BDC Dividend Investors Is Close
As a structural BDC bull I have to admit that the period of BDCs consistently surprising us on the upside has come to an end. Many lower quality BDCs have already cut their dividends to sync their cash flows with less favorable private credit lending environment. I would say that the moment of truth for high quality BDCs is also very close, where we will see how really durable their base dividends are.
BDC Weekly Review: JPMorgan Muscling In On Private Credit Turf
We take a look at the action in business development companies through the last week of February and highlight some of the key themes we are watching. BDCs remained flat amid volatile risk sentiment, with TCPC underperforming due to a poor quarter and dividend cut, while February saw slight overall gains for the sector. JPMorgan's $50bn direct lending initiative and merger of its commercial and investment banks could increase competition for BDCs in corporate lending.
BlackRock TCP Capital Corp (TCPC) Q4 2024 Earnings Call Transcript
BlackRock TCP Capital Corp (NASDAQ:TCPC ) Q4 2024 Results Conference Call February 27, 2025 1:00 PM ET Company Participants Michaela Murray - Investor Relations Phil Tseng - Chairman & Chief Executive Officer Erik Cuellar - Chief Financial Officer Dan Worrell - Co-CIO Jason Mehring - President Conference Call Participants Finian O'Shea - Wells Fargo Securities Robert Dodd - Raymond James Christopher Nolan - Ladenburg Thalmann Operator Ladies and gentlemen, good afternoon. Welcome everyone to BlackRock TCP Capital Corp's Fourth Quarter and Year-Ended 2024 Earnings Conference Call.
Tactical BDCs For Sizable Income And Alpha: 1 To Buy, 1 To Avoid
Since BDCs carry in general above-average risks, it makes sense to prioritize defensive and prudently structured picks. Yet, if the price is right, higher risk BDCs could also become enticing investments. In this article, I discuss two tactical or higher risk BDCs - one of which is a buy, and the other one, in my view, should be avoided.
BlackRock TCP Capital Corp. Announces 2024 Financial Results Including Fourth Quarter Net Investment Income of $0.40 Per Share; Declares First Quarter Dividend of $0.25 Per Share and a Special Dividend of $0.04 Per Share
SANTA MONICA, Calif.--(BUSINESS WIRE)--BlackRock TCP Capital Corp. (“we,” “us,” “our,” “TCPC” or the “Company”), a business development company (NASDAQ: TCPC), today announced its financial results for the fourth quarter and year ended December 31, 2024 and filed its Form 10-K with the U.S. Securities and Exchange Commission. FINANCIAL HIGHLIGHTS On a GAAP basis, net investment income for the quarter ended December 31, 2024 was $33.8 million, or $0.40 per share on a diluted basis, which exceede.
BlackRock TCP Capital Corp. to Report Fourth Quarter and Fiscal Year Ended December 31, 2024 Financial Results on February 27, 2025
SANTA MONICA, Calif.--(BUSINESS WIRE)--BlackRock TCP Capital Corp. (NASDAQ: TCPC) announced today that it will report its financial results for the fourth quarter and fiscal year ended December 31, 2024 on Thursday, February 27, 2025, prior to the opening of the financial markets. BlackRock TCP Capital Corp. will also host a conference call at 1:00 p.m. Eastern Time (10:00 a.m. Pacific Time) on Thursday, February 27, 2025, to discuss its financial results. All interested parties are invited to.
Dividend Cut Alert: 1 REIT And 1 BDC With Unsustainable Yields
REITs and BDCs are solid asset classes through which to facilitate income-oriented strategies. However, investors have to be still careful of not assuming excessive risks that might lead to unexpected dividend cuts. In this article, I share two high-yielding picks, where, in my view, the chances are high for experiencing a dividend cut in the foreseeable future.
Invest In $95,000 BDC Portfolio For $10,000 Annual Income And Durable Compounding
Private credit/BDC investments offer exposure to structural growth and a significant portfolio yield enhancement. Yet, we have to be extra careful of not falling into value traps and investing in unsustainable yields, which are abundant in the inherently risky sector. In this article, I share a BDC portfolio that has ~10.5% yield, healthier fundamentals than the average in the space, and, importantly, meaningful price appreciation potential.
Investing In BDCs For 10%+ Yields? This Is What Matters Now
When investing for 10%+ BDC yields, investors have to pay extra attention to leverage, dividend coverage, and portfolio quality. Going into Q3, 2024 earnings season, my expectation was that we would see elevated volatility levels and falling NII results. While the actual results have been mostly positive for high-quality BDCs (and even for some speculative picks), many risks remain open.
BDC Weekly Review: Tax-Loss Season Is Approaching
We take a look at the action in business development companies through the second week of November and highlight some of the key themes we are watching. BDCs saw a 2% aggregate return on the week; TPVG surged nearly 20%, while PSEC dropped due to a bad quarter and distribution cut. Tax-loss season may pressure some securities; PSEC, HRZN, TPVG, TCPC, OCSL, GSBD, NMFC, and CSWC could weaken further by year-end.
BlackRock TCP Capital Corp (TCPC) Q3 2024 Earnings Call Transcript
BlackRock TCP Capital Corp (NASDAQ:TCPC ) Q3 2024 Earnings Conference Call November 6, 2024 1:00 PM ET Company Participants Michaela Murray - Investor Relations Raj Vig - Chairman & Chief Executive Officer Phil Tseng - President Erik Cuellar - Chief Financial Officer Conference Call Participants Finian O'Shea - Wells Fargo Robert Dodd - Raymond James Paul Johnson - KBW Christopher Nolan - Ladenburg Thalmann Operator Ladies and gentlemen, good afternoon. Welcome everyone to BlackRock TCP Capital Corp Third Quarter 2024 Earnings Conference Call.
BlackRock TCP Capital Corp. Announces Third Quarter 2024 Financial Results
SANTA MONICA, Calif.--(BUSINESS WIRE)--BlackRock TCP Capital Corp. (“we,” “us,” “our,” “TCPC” or the “Company”), a business development company (NASDAQ: TCPC), today announced its financial results for the third quarter ended September 30, 2024 and filed its Form 10-Q with the U.S. Securities and Exchange Commission. FINANCIAL HIGHLIGHTS On a GAAP basis, net investment income for the quarter ended September 30, 2024 was $33.9 million, or $0.40 per share on a diluted basis, which exceeded the re.
BlackRock TCP Capital Corp. to Report Third Quarter ended September 30, 2024 Financial Results on November 6, 2024
SANTA MONICA, Calif.--(BUSINESS WIRE)--BlackRock TCP Capital Corp. (NASDAQ: TCPC) announced today that it will report its financial results for the third quarter ended September 30, 2024 on Wednesday, November 6, 2024, prior to the opening of the financial markets. BlackRock TCP Capital Corp. will also host a conference call at 1:00 p.m. Eastern Time (10:00 a.m. Pacific Time) on Wednesday, November 6, 2024, to discuss its financial results. All interested parties are invited to participate in t.
BDC Dividend Cut Alert: 2 BDCs That Are Likely To Cut Dividends
The Fed's recent decision to cut the base rates by 50 basis points has created more problems for BDCs, especially for those with weaker portfolios. Lower base rates, inactive M&A markets and higher economic uncertainty are critical factors that for some BDCs might trigger dividend cuts. In the article I elaborate on two BDCs that are very close to cutting their dividends with a high probability of making the announcements together with their Q4, 2024 reports.
KBRA Assigns Ratings to BlackRock TCP Capital Corp.
NEW YORK--(BUSINESS WIRE)-- #creditratingagency--KBRA assigns issuer and senior unsecured debt ratings of BBB- to BlackRock TCP Capital Corp. (NASDAQ: TCPC or "the company"). The rating Outlook is Stable. Key Credit Considerations The ratings are supported by TCPC's ties to BlackRock, Inc.'s (NYSE: BLK) $86 billion credit platform, of which $35 billion is principally dedicated to private middle market direct lending. BLK, with $10.6 trillion in assets under management, is one of the largest investment managers in th.
2 BDCs At Discounts Of ~20% With Attractive Asymmetric Profiles
This is not the right time to take high risk in the BDC space. Yet, as it is often the case, a challenging environment creates opportunities. In this article, I elaborate on two BDCs which indeed have some risks, but not to the extent that is currently priced in by the market.
3 Lessons Learned From Struggling BDCs After Q2 Earnings
The BDC sector faces headwinds such as spread compression, potential Fed rate cuts, and increased corporate distress. Despite these challenges, BDC market indices like VanEck BDC Income ETF and Putnam BDC Income ETF show only minor corrections. Yet, the small, illiquid nature of the BDC sector means ETFs may not fully capture overall sector dynamics.
How To Allocate $100,000 In A Dividend Portfolio: A Strategic Guide For Income And Growth
I will demonstrate how you could allocate the amount of $100,000 by following the current composition of The Dividend Income Accelerator Portfolio, effectively balancing dividend income and dividend growth. Potential benefits of its implementation are a reduced portfolio risk level, stable dividend income, strong potential for dividend growth and capital appreciation, and elevated chances of an attractive Total Return. The dividend portfolio presently offers you a Weighted Average Dividend Yield [FWD] of 4.20%, with a 5-Year Weighted Average Dividend Growth Rate [CAGR] of 7.31%.
BlackRock TCP Capital: Weakening Earnings May Result In Distribution Cut (Rating Downgrade)
BlackRock TCP Capital operates as a business development company that generates its earnings from debt investments in middle market companies. TCPC offers a high dividend yield of 17.8% but may face a future distribution cut due to rising non-accruals. Future interest rate cuts may negatively impact the NII per share. NAV has deteriorated over the last year as a result of shrinking adjusted net investment income.
Down -17.15% in 4 Weeks, Here's Why You Should You Buy the Dip in BlackRock TCP (TCPC)
BlackRock TCP (TCPC) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.
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