hD

Income Statement Summary

Stellus Capital Investment (SCM) annual income statement covering fiscal 2021 through 2025, as reported to the SEC.

  • Net income was $27.05M in fiscal 2025, down 41% from $45.84M.
  • Diluted earnings per share was $0.95, down 46.9% from $1.79.
  • Total Operating Expenses were $68.57M, up 6.1% from $64.63M.

An income statement shows what a company sold and what it cost to run the business, ending with the profit left over.

Figures in USD thousands, except per share data
Dec'25Dec'24Dec'23Dec'22Dec'21
INVESTMENT INCOME
Payment-in-kind interest income

5,756

3,310

3,801

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Payment-in-kind interest income

5,756

3,310

3,801

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

OPERATING EXPENSES
Management fees

17,178

15,698

15,452

14,848

13,169

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Management fees

17,178

15,698

15,452

14,848

13,169

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Valuation fees

407

380

373

351

313

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Valuation fees

407

380

373

351

313

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Administrative services expenses

2,134

1,916

1,908

1,810

1,798

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Administrative services expenses

2,134

1,916

1,908

1,810

1,798

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Income incentive fees

8,393

10,045

10,189

3,782

3,043

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Income incentive fees

8,393

10,045

10,189

3,782

3,043

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Capital gains incentive fee (reversal)

-

-

-569

-2,818

2,867

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Capital gains incentive fee (reversal)

-

-

-569

-2,818

2,867

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Professional fees

1,940

1,190

1,455

1,103

1,082

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Professional fees

1,940

1,190

1,455

1,103

1,082

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Directors' fees

409

412

406

329

315

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Directors' fees

409

412

406

329

315

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Insurance expense

396

499

492

503

482

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Insurance expense

396

499

492

503

482

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest expense and other fees

34,943

31,506

32,011

24,469

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest expense and other fees

34,943

31,506

32,011

24,469

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest expense and other fees

-

-

-

-

18,721

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest expense and other fees

-

-

-

-

18,721

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Income tax expense

1,580

1,808

1,333

1,161

1,102

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Income tax expense

1,580

1,808

1,333

1,161

1,102

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other general and administrative expenses

1,182

1,175

891

984

1,006

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other general and administrative expenses

1,182

1,175

891

984

1,006

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total Operating Expenses

68,566

64,633

63,944

46,525

43,902

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total Operating Expenses

68,566

64,633

63,944

46,525

43,902

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Income incentive fee waiver

3,310

1,826

307

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Income incentive fee waiver

3,310

1,826

307

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total Operating Expenses, net of fee waivers

65,255

62,806

63,636

46,525

43,902

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total Operating Expenses, net of fee waivers

65,255

62,806

63,636

46,525

43,902

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net Investment Income

36,883

41,929

42,210

28,586

19,776

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net Investment Income

36,883

41,929

42,210

28,586

19,776

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net realized (loss) gain on investments

-

-

-

3,660

23,710

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net realized (loss) gain on investments

-

-

-

3,660

23,710

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net realized (loss) gain on foreign currency translations

-68

-94

-112

-6

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net realized (loss) gain on foreign currency translations

-68

-94

-112

-6

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Loss on debt extinguishment

-226

-

-

-

-539

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Loss on debt extinguishment

-226

-

-

-

-539

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net change in unrealized (depreciation) appreciation on investments

-11,106

19,570

2,792

-17,542

-6,928

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net change in unrealized (depreciation) appreciation on investments

-11,106

19,570

2,792

-17,542

-6,928

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net change in unrealized (depreciation) appreciation on non-controlled, non-affiliated investments

-

-

-

-17,542

-6,928

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net change in unrealized (depreciation) appreciation on non-controlled, non-affiliated investments

-

-

-

-17,542

-6,928

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net change in unrealized appreciation (depreciation) on foreign currency translations

33

-14

-6

6

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net change in unrealized appreciation (depreciation) on foreign currency translations

33

-14

-6

6

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Benefit (provision) for taxes on net unrealized depreciation (appreciation) on investments

-

-188

126

213

-510

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Benefit (provision) for taxes on net unrealized depreciation (appreciation) on investments

-

-188

126

213

-510

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Benefit for taxes on net realized loss on investments

-

-2

-2,987

-

2,957

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Benefit for taxes on net realized loss on investments

-

-2

-2,987

-

2,957

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net Increase in Net Assets Resulting from Operations

27,045

45,844

17,533

14,491

33,572

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net Increase in Net Assets Resulting from Operations

27,045

45,844

17,533

14,491

33,572

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net Investment Income Per Share - basic

1.30

1.64

1.92

1.46

1.01

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net Investment Income Per Share - basic

1.30

1.64

1.92

1.46

1.01

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net Investment Income Per Share - diluted

-

-

-

1.46

1.01

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net Investment Income Per Share - diluted

-

-

-

1.46

1.01

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net Increase in Net Assets Resulting from Operations Per Share Basic (in dollars per share)

0.95

1.79

0.80

0.74

1.72

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net Increase in Net Assets Resulting from Operations Per Share Basic (in dollars per share)

0.95

1.79

0.80

0.74

1.72

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net Increase in Net Assets Resulting from Operations Per Share Diluted (in dollars per share)

0.95

1.79

0.80

0.74

1.72

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net Increase in Net Assets Resulting from Operations Per Share Diluted (in dollars per share)

0.95

1.79

0.80

0.74

1.72

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Weighted Average Shares of Common Stock Outstanding Basic

28,364

25,596

22,004

19,552

19,489

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Weighted Average Shares of Common Stock Outstanding Basic

28,364

25,596

22,004

19,552

19,489

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Weighted Average Shares of Common Stock Outstanding Diluted

28,364

25,596

22,004

19,552

19,489

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Weighted Average Shares of Common Stock Outstanding Diluted

28,364

25,596

22,004

19,552

19,489

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Distributions Per Share-basic and diluted

1.60

1.61

1.61

1.30

1.14

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Distributions Per Share-basic and diluted

1.60

1.61

1.61

1.30

1.14

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Controlled investments
Interest income

-

81

37

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest income

-

81

37

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net realized (loss) gain on investments

-1,132

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net realized (loss) gain on investments

-1,132

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net change in unrealized (depreciation) appreciation on investments

4,395

826

-430

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net change in unrealized (depreciation) appreciation on investments

4,395

826

-430

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Non-controlled/affiliated
Interest income

8

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest income

8

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Payment-in-kind interest income

217

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Payment-in-kind interest income

217

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net realized gain (loss) on investments

-6,314

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net realized gain (loss) on investments

-6,314

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net change in unrealized (depreciation) appreciation on investments

4,140

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net change in unrealized (depreciation) appreciation on investments

4,140

-

-

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Non-controlled/Unaffiliated
Interest income

91,999

96,494

98,177

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest income

91,999

96,494

98,177

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Payment-in-kind interest income

5,538

3,310

3,801

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Payment-in-kind interest income

5,538

3,310

3,801

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other income

4,374

4,850

3,830

2,147

2,142

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Other income

4,374

4,850

3,830

2,147

2,142

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total Investment Income

102,138

104,736

105,847

75,112

63,678

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Total Investment Income

102,138

104,736

105,847

75,112

63,678

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net realized (loss) gain on investments

8,977

-15,737

-30,211

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net realized (loss) gain on investments

8,977

-15,737

-30,211

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net change in unrealized (depreciation) appreciation on investments

-19,642

18,743

3,222

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Net change in unrealized (depreciation) appreciation on investments

-19,642

18,743

3,222

-

-

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Non-controlled/non-affiliated
Interest income

-

-

-

72,964

61,536

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

Interest income

-

-

-

72,964

61,536

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx

xxxxx