TCPC (BlackRock TCP Capital Corp.) Stock Financials & Earnings | Market Cap Arena

TCPC (BlackRock TCP Capital Corp.) Stock Financials & Earnings | Market Cap Arena

TCPCBlackRock TCP Capital Corp.

Mkt Cap$323M

Financial Services·Asset Management·🇺🇸 United States·NASDAQ

Revenue (TTM)$111M

Net Income (TTM)$110M

EPS (TTM)-$1.05

Free Cash Flow (TTM)$104M

Gross Margin52.5%

Op. Margin45.4%

Net Margin99.1%

FCF Margin93.8%

P/S Ratio (TTM)2.9x

P/E Ratio (TTM)2.9x

YoY Rev Growth+433.5%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$50M	$50M	$37M
Q2 23	$54M	$54M	$40M
Q3 23	$54M	$54M	$40M
Q4 23	$51M	$51M	$37M
Q1 24	$21M	$9M	$5M
Q2 24	-$29M	-$49M	-$51M
Q3 24	$46M	$25M	$22M
Q4 24	-$17M	-$33M	-$38M
Q1 25	$39M	$24M	$21M
Q2 25	$3M	-$15M	-$16M
Q3 25	$42M	$25M	$24M
Q4 25	$27M	$24M	$21M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	1.7x	310.7x
Q2 23	1.6x	18.5x
Q3 23	1.6x	80.7x
Q4 23	1.5x	8.4x
Q1 24	1.8x	15.5x
Q2 24	3.3x	—
Q3 24	3.6x	—
Q4 24	15.6x	—
Q1 25	8.3x	—
Q2 25	4.6x	—
Q3 25	4.9x	—
Q4 25	2.9x	2.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	-$40M	-$40M
Q2 23	$46M	$46M
Q3 23	$47M	$47M
Q4 23	$35M	$35M
Q1 24	$33M	$33M
Q2 24	$86M	$86M
Q3 24	$102M	$102M
Q4 24	$72M	$72M
Q1 25	$26M	$26M
Q2 25	$15M	$15M
Q3 25	$22M	$22M
Q4 25	$41M	$41M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$0
Q2 23	$0
Q3 23	$0
Q4 23	$0
Q1 24	$0
Q2 24	$0
Q3 24	$0
Q4 24	$0
Q1 25	$1
Q2 25	$5
Q3 25	$0
Q4 25	$0

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+19.4%	+2.3%
Q2 23	+22.8%	+5.6%
Q3 23	+12.5%	+0.7%
Q4 23	+8.9%	+2.7%
Q1 24	-58.6%	+18.1%
Q2 24	-153.7%	+58.7%
Q3 24	-15.2%	+77.0%
Q4 24	-133.6%	+54.7%
Q1 25	+87.7%	+15.4%
Q2 25	+108.6%	-17.5%
Q3 25	-8.5%	-27.3%
Q4 25	+258.9%	-70.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	—
Q3 24	$0	0.0%
Q4 24	$0	—
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M
Q1 23	$13M	$154K
Q2 23	$14M	$139K
Q3 23	$14M	$134K
Q4 23	$13M	$131K
Q1 24	$3M	—
Q2 24	$3M	—
Q3 24	$3M	—
Q4 24	$3M	—
Q1 25	$3M	—
Q2 25	$3M	—
Q3 25	$3M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$99M	$0	$99M
Q2 23	$123M	$0	$123M
Q3 23	$92M	$0	$92M
Q4 23	$112M	$0	$112M
Q1 24	$121M	$0	$121M
Q2 24	$195M	$0	$195M
Q3 24	$104M	$0	$104M
Q4 24	$92M	$0	$92M
Q1 25	$99M	$0	$99M
Q2 25	$107M	$0	$107M
Q3 25	$61M	$0	$61M
Q4 25	$61M	$0	$61M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	58M	+0.0%
Q2 23	58M	+0.0%
Q3 23	58M	+0.0%
Q4 23	58M	+0.0%
Q1 24	62M	+7.4%
Q2 24	86M	+37.9%
Q3 24	86M	-0.0%
Q4 24	85M	-0.3%
Q1 25	85M	-0.3%
Q2 25	85M	-0.0%
Q3 25	85M	-0.0%
Q4 25	85M	-0.1%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$820K	80
FY 15	$2M	80
FY 16	$2M	80
FY 17	$2M	80
FY 18	$2M	80
FY 19	$2M	80
FY 20	$2M	80
FY 21	$2M	80
FY 22	$45M	4
FY 23	$11K	20K
FY 24	$984	21K
FY 25	$8K	25K