Rand Capital (RAND) Financials

$10.06 -0.01 (-0.10%)

Closing price 04:00 PM Eastern

Extended Trading

$10.18 +0.12 (+1.14%)

As of 04:10 PM Eastern

Annual Income Statements for Rand Capital

This table shows Rand Capital's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	14	-1.89	6.53	8.83	16
Consolidated Net Income / (Loss)	14	-0.88	6.39	7.49	16
Net Income / (Loss) Continuing Operations	14	-1.89	6.39	7.49	16
Total Pre-Tax Income	14	-1.79	7.05	7.44	16
Total Revenue	14	-0.67	10	9.47	17
Net Interest Income / (Expense)	5.45	0.00	5.97	6.94	12
Total Interest Income	6.06	0.00	7.02	8.03	12
Investment Securities Interest Income	6.06	0.00	7.02	8.03	12
Total Interest Expense	0.62	0.00	1.04	1.09	0.11
Long-Term Debt Interest Expense	0.62	-	1.04	1.09	0.11
Total Non-Interest Income	9.05	-0.67	4.21	2.53	5.29
Net Realized & Unrealized Capital Gains on Investments	9.05	-0.67	4.21	3.72	5.29
Provision for Credit Losses	-	-	-	0.00	0.06
Total Non-Interest Expense	0.59	1.12	3.13	2.02	0.74
Other Operating Expenses	0.58	0.84	2.87	1.74	0.74
Basic Earnings per Share	$6.12	($0.34)	$2.53	$3.42	($2.73)
Weighted Average Basic Shares Outstanding	2.58M	2.58M	2.58M	2.58M	2.95M
Diluted Earnings per Share	$6.12	($0.34)	$2.53	$3.42	($2.73)
Weighted Average Diluted Shares Outstanding	2.58M	2.58M	2.58M	2.58M	2.95M
Weighted Average Basic & Diluted Shares Outstanding	-	-	2.58M	2.97M	2.97M

This table shows Rand Capital's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	0.60	-7.87	1.40	7.74	12	-12	4.32	-6.72	0.89	21	2.74
Consolidated Net Income / (Loss)	0.60	-8.00	3.08	7.74	12	-15	4.32	-7.74	0.89	21	2.74
Net Income / (Loss) Continuing Operations	0.60	-8.00	2.24	7.70	12	-14	4.32	-6.72	0.89	20	2.74
Total Pre-Tax Income	0.93	-7.79	2.24	7.65	12	-14	4.32	-6.81	0.89	20	2.74
Total Revenue	1.49	-5.48	3.08	10	12	-16	4.56	-7.67	1.03	21	2.96
Net Interest Income / (Expense)	1.69	-0.84	1.58	2.07	3.65	-0.36	3.34	0.07	2.97	6.91	2.36
Total Interest Income	1.69	-0.21	1.97	2.07	3.89	0.10	3.38	0.07	3.00	6.96	2.39
Investment Securities Interest Income	1.69	-0.21	1.97	2.07	3.89	0.10	3.38	0.07	3.00	6.96	2.39
Total Interest Expense	0.00	0.63	0.39	0.00	0.25	0.45	0.04	0.00	0.03	0.05	0.03
Long-Term Debt Interest Expense	-	-	0.39	-	0.25	-	0.04	-	0.03	-	0.03
Total Non-Interest Income	-0.20	-4.64	1.50	8.17	8.11	-15	1.22	-7.75	-1.94	14	0.60
Net Realized & Unrealized Capital Gains on Investments	-0.20	-4.64	1.40	8.17	8.11	-14	1.22	-7.75	-1.94	14	0.60
Provision for Credit Losses	-	-	-	-	0.00	-	0.03	0.01	0.00	-	0.00
Total Non-Interest Expense	0.81	2.05	0.84	2.58	0.11	-1.51	0.21	-0.87	0.13	0.73	0.22
Other Operating Expenses	0.54	2.05	0.76	2.11	0.11	-1.24	0.21	-1.00	0.13	1.10	0.22
Basic Earnings per Share	$0.23	$0.42	$0.54	$3.00	$1.02	($1.14)	$0.29	($2.60)	($0.75)	$0.33	($0.12)
Weighted Average Basic Shares Outstanding	2.58M	2.58M	2.58M	2.58M	2.58M	2.58M	2.87M	2.97M	2.97M	2.95M	2.97M
Diluted Earnings per Share	$0.23	$0.42	$0.54	$3.00	$1.02	($1.14)	$0.29	($2.60)	($0.75)	$0.33	($0.12)
Weighted Average Diluted Shares Outstanding	2.58M	2.58M	2.58M	2.58M	2.58M	2.58M	2.87M	2.97M	2.97M	2.95M	2.97M
Weighted Average Basic & Diluted Shares Outstanding	2.58M	2.58M	2.58M	2.58M	2.58M	2.97M	2.97M	2.97M	2.97M	2.97M	2.97M

This table details how cash moves in and out of Rand Capital's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-20	0.54	1.93	-2.46	3.37
Net Cash From Operating Activities	-3.94	0.25	-8.34	15	11
Net Cash From Continuing Operating Activities	-3.94	0.25	-8.34	15	11
Net Income / (Loss) Continuing Operations	16	-0.88	6.53	8.83	-8.04
Consolidated Net Income / (Loss)	16	-0.88	6.53	8.83	-8.04
Depreciation Expense	0.18	0.01	-2.95	6.09	11
Amortization Expense	-0.11	-0.03	-0.02	-0.03	-0.04
Non-Cash Adjustments to Reconcile Net Income	-24	2.74	-13	0.31	11
Changes in Operating Assets and Liabilities, net	4.41	-1.60	0.73	0.13	-3.07
Net Cash From Investing Activities	0.00	0.00	0.00	0.00	0.00
Net Cash From Continuing Investing Activities	0.00	0.00	0.00	0.00	0.00
Net Cash From Financing Activities	-16	0.28	10	-18	-7.88
Net Cash From Continuing Financing Activities	-16	0.28	10	-18	-7.88
Issuance of Debt	0.00	2.55	14	-16	-0.60
Repayment of Debt	-11	-0.13	0.00	0.00	0.00
Payment of Dividends	-4.57	-2.14	-3.43	-2.14	-7.28

This table details how cash moves in and out of Rand Capital's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-4.88	-0.18	-2.54	1.53	1.06	-2.52	4.10	-0.51	5.07	-5.28	-3.88
Net Cash From Operating Activities	-7.33	-1.06	-4.84	4.28	15	0.78	7.73	0.35	5.93	-2.76	-3.52
Net Cash From Continuing Operating Activities	-7.33	-1.06	-4.84	4.28	15	0.78	7.73	0.35	5.93	-2.76	-3.52
Net Income / (Loss) Continuing Operations	0.60	1.09	1.40	7.74	2.64	-2.95	0.84	-7.74	-2.23	1.09	-0.37
Consolidated Net Income / (Loss)	0.60	1.09	1.40	7.74	2.64	-2.95	0.84	-7.74	-2.23	1.09	-0.37
Depreciation Expense	0.01	-2.97	0.01	0.01	0.01	6.07	0.01	0.01	0.01	11	2.05
Amortization Expense	-0.00	-0.00	-0.01	-0.01	-0.01	-0.01	-0.02	-0.01	-0.01	-0.00	-0.00
Non-Cash Adjustments to Reconcile Net Income	-7.85	0.63	-5.67	-4.40	14	-3.54	8.68	9.69	8.04	-15	-5.10
Changes in Operating Assets and Liabilities, net	-0.08	0.19	-0.57	0.94	-1.44	1.21	-1.78	-1.61	0.13	0.18	-0.09
Net Cash From Investing Activities	-	-	0.00	-	-	-	0.00	-	-	-	0.00
Net Cash From Continuing Investing Activities	-	-	0.00	-	-	-	0.00	-	-	-	0.00
Net Cash From Financing Activities	2.45	0.87	2.30	-2.75	-14	-3.30	-3.63	-0.86	-0.86	-2.52	-0.36
Net Cash From Continuing Financing Activities	2.45	0.87	2.30	-2.75	-14	-3.30	-3.63	-0.86	-0.86	-2.52	-0.36
Issuance of Debt	3.10	2.50	-	-	-	-3.30	-	-	-	-	0.50
Payment of Dividends	-0.65	-1.63	-0.65	-0.75	-0.75	-	-3.03	-0.86	-0.86	-2.52	-0.86

This table presents Rand Capital's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2022	2023	2024	2025
Period end date	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	63	81	72	53
Cash and Due from Banks	1.37	3.30	0.83	4.21
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00
Other Assets	62	78	2.45	50
Total Liabilities & Shareholders' Equity	63	81	72	53
Total Liabilities	5.76	20	7.12	1.01
Short-Term Debt	2.55	16	0.60	0.00
Other Long-Term Liabilities	3.21	3.96	4.96	1.01
Commitments & Contingencies	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	58	61	65	52
Total Preferred & Common Equity	58	61	65	52
Total Common Equity	58	61	65	52
Common Stock	52	56	56	64
Retained Earnings	7.56	6.32	2.54	-11
Treasury Stock	-1.57	-1.57	-1.57	-1.57

This table presents Rand Capital's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	79	84	91	80	68	58	55	53
Cash and Due from Banks	3.48	0.76	2.29	3.35	4.93	4.42	9.49	0.33
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Assets	76	84	88	76	63	0.86	48	55
Total Liabilities & Shareholders' Equity	79	84	91	80	68	58	55	53
Total Liabilities	18	23	22	9.35	2.51	0.93	0.96	1.56
Short-Term Debt	14	19	17	3.90	0.00	0.00	0.00	0.50
Other Long-Term Liabilities	3.94	3.59	5.03	5.45	2.51	0.93	0.96	1.06
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	61	62	69	70	65	57	54	51
Total Preferred & Common Equity	61	62	69	70	65	57	54	51
Total Common Equity	61	62	69	70	65	57	54	51
Common Stock	52	56	56	56	64	64	64	64
Retained Earnings	11	7.07	14	16	2.52	-6.07	-9.17	-12
Treasury Stock	-1.57	-1.57	-1.57	-1.57	-1.57	-1.57	-1.57	-1.57

This table displays calculated financial ratios and metrics derived from Rand Capital's official financial filings.

Metric	2021	2022	2023	2024	2025
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	0.00	0.00	2,581,021.00	2,581,021.00	2,969,814.00
DEI Adjusted Shares Outstanding	0.00	0.00	2,581,021.00	2,581,021.00	2,969,814.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	0.00	2.48	2.90	5.42
Growth Metrics	-	-	-	-	-
Revenue Growth	0.00%	-104.60%	1,628.95%	-7.03%	78.57%
EBITDA Growth	0.00%	-112.88%	327.05%	230.81%	102.68%
EBIT Growth	0.00%	-112.85%	494.90%	5.59%	116.35%
NOPAT Growth	0.00%	-109.00%	611.62%	17.10%	115.11%
Net Income Growth	0.00%	-106.35%	825.03%	17.10%	115.11%
EPS Growth	0.00%	-105.56%	844.12%	35.18%	-179.82%
Operating Cash Flow Growth	0.00%	106.40%	-3,405.06%	283.81%	-26.61%
Free Cash Flow Firm Growth	0.00%	0.00%	83.09%	263.98%	84.23%
Invested Capital Growth	0.00%	0.00%	27.86%	-12.42%	-22.69%
Revenue Q/Q Growth	0.00%	0.00%	-58.26%	-49.60%	232.46%
EBITDA Q/Q Growth	0.00%	0.00%	-82.37%	-5.78%	305.63%
EBIT Q/Q Growth	0.00%	0.00%	-69.54%	-48.06%	221.18%
NOPAT Q/Q Growth	0.00%	0.00%	-72.40%	-46.82%	272.95%
Net Income Q/Q Growth	0.00%	0.00%	-72.20%	-49.36%	241.49%
EPS Q/Q Growth	0.00%	0.00%	13.45%	-31.33%	35.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	2.08%	13.64%	-23.93%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	14.97%	175.29%
Invested Capital Q/Q Growth	0.00%	0.00%	2.61%	-9.21%	-2.68%
Profitability Metrics	-	-	-	-	-
EBITDA Margin	96.34%	0.00%	40.08%	142.63%	161.89%
EBIT Margin	95.90%	0.00%	69.23%	78.63%	95.26%
Profit (Net Income) Margin	95.82%	0.00%	62.78%	79.08%	95.26%
Tax Burden Percent	99.92%	49.40%	90.69%	100.58%	100.00%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.08%	0.00%	9.31%	-0.58%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	9.31%	10.36%	26.91%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	9.31%	10.36%	26.91%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	1.48%	1.51%	0.50%
Return on Equity (ROE)	0.00%	-1.53%	10.79%	11.87%	27.41%
Cash Return on Invested Capital (CROIC)	0.00%	-204.15%	-15.15%	23.59%	52.50%
Operating Return on Assets (OROA)	0.00%	0.00%	9.76%	9.70%	25.63%
Return on Assets (ROA)	0.00%	0.00%	8.85%	9.76%	25.63%
Return on Common Equity (ROCE)	0.00%	-1.53%	10.79%	11.87%	27.41%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-1.53%	10.51%	11.46%	30.86%
Net Operating Profit after Tax (NOPAT)	14	-1.25	6.39	7.49	16
NOPAT Margin	95.82%	0.00%	62.78%	79.08%	95.26%
Net Nonoperating Expense Percent (NNEP)	0.00%	-28.85%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	0.10%	0.00%	2.63%	2.94%	0.00%
Operating Expenses to Revenue	4.10%	0.00%	30.77%	21.37%	4.39%
Earnings before Interest and Taxes (EBIT)	14	-1.79	7.05	7.44	16
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	14	-1.80	4.08	14	27
Valuation Ratios	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.46	0.67	0.63
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.46	0.67	0.63
Price to Revenue (P/Rev)	0.00	0.00	2.76	4.64	1.95
Price to Earnings (P/E)	0.00	0.00	4.31	4.98	2.04
Dividend Yield	12.07%	5.66%	8.71%	6.34%	15.51%
Earnings Yield	0.00%	0.00%	23.19%	20.08%	48.92%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.53	0.67	0.55
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	4.04	4.78	1.70
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	10.07	3.35	1.05
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	5.83	6.08	1.78
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	6.43	6.05	1.78
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	2.95	2.55
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	2.66	0.91
Leverage & Solvency	-	-	-	-	-
Debt to Equity	0.00	0.04	0.27	0.03	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.02	0.00
Financial Leverage	0.00	0.04	0.16	0.15	0.02
Leverage Ratio	0.00	1.10	1.22	1.22	1.07
Compound Leverage Factor	0.00	1.10	1.22	1.22	1.07
Debt to Total Capital	0.00%	4.23%	21.09%	3.21%	0.00%
Short-Term Debt to Total Capital	0.00%	4.23%	21.09%	0.89%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	2.32%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	95.77%	78.91%	96.79%	100.00%
Debt to EBITDA	0.00	-1.42	3.98	0.16	0.00
Net Debt to EBITDA	0.00	-0.66	3.17	0.10	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.12	0.00
Debt to NOPAT	0.00	-2.04	2.54	0.29	0.00
Net Debt to NOPAT	0.00	-0.95	2.03	0.18	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.21	0.00
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-62	-10	17	31
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	-9.95	15.65	279.21
Operating Cash Flow to Interest Expense	-6.38	0.00	-7.98	14.07	99.99
Operating Cash Flow Less CapEx to Interest Expense	-6.38	0.00	-7.98	14.07	99.99
Efficiency Ratios	-	-	-	-	-
Asset Turnover	0.00	0.00	0.14	0.12	0.27
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-
Invested Capital	0.00	60	77	67	52
Invested Capital Turnover	0.00	0.00	0.15	0.13	0.28
Increase / (Decrease) in Invested Capital	0.00	60	17	-9.57	-15
Enterprise Value (EV)	0.00	0.00	41	45	29
Market Capitalization	0.00	0.00	28	44	33
Book Value per Share	$0.00	$22.36	$23.56	$25.31	$17.57
Tangible Book Value per Share	$0.00	$22.36	$23.56	$25.31	$17.57
Total Capital	0.00	60	77	67	52
Total Debt	0.00	2.55	16	2.17	0.00
Total Long-Term Debt	0.00	0.00	0.00	1.57	0.00
Net Debt	0.00	1.18	13	1.33	-4.21
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Expense (NNE)	0.00	-0.37	0.00	0.00	0.00
Net Nonoperating Obligations (NNO)	0.00	2.55	16	2.17	0.00
Total Depreciation and Amortization (D&A)	0.06	-0.01	-2.97	6.06	11
Earnings Adjustments	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$2.53	$3.42	($2.73)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	2.58M	2.58M	2.95M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$2.53	$3.42	($2.73)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	2.58M	2.58M	2.95M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	2.58M	2.97M	2.97M
Normalized Net Operating Profit after Tax (NOPAT)	14	-1.20	6.39	5.21	11
Normalized NOPAT Margin	95.82%	0.00%	62.78%	55.04%	66.68%
Pre Tax Income Margin	95.90%	0.00%	69.23%	78.63%	95.26%
Debt Service Ratios	-	-	-	-	-
EBIT to Interest Expense	22.52	0.00	6.75	6.83	143.12
NOPAT to Interest Expense	22.50	0.00	6.12	6.87	143.12
EBIT Less CapEx to Interest Expense	22.52	0.00	6.75	6.83	143.12
NOPAT Less CapEx to Interest Expense	22.50	0.00	6.12	6.87	143.12
Payout Ratios	-	-	-	-	-
Dividend Payout Ratio	32.91%	-242.93%	53.69%	28.61%	45.19%
Augmented Payout Ratio	33.06%	-242.93%	53.69%	28.61%	45.19%

This table displays calculated financial ratios and metrics derived from Rand Capital's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	2,581,021.00	2,581,021.00	2,581,021.00	2,581,021.00	2,581,021.00	2,581,021.00	2,969,814.00	2,969,814.00	2,969,814.00	2,969,814.00	5,939,628.00
DEI Adjusted Shares Outstanding	2,581,021.00	2,581,021.00	2,581,021.00	2,581,021.00	2,581,021.00	2,581,021.00	2,969,814.00	2,969,814.00	2,969,814.00	2,969,814.00	5,939,628.00
DEI Earnings Per Adjusted Shares Outstanding	0.23	-3.10	1.19	3.00	4.51	-5.80	1.46	-2.60	0.30	7.00	0.46
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	43.97%	11.97%	-8.03%	-5.53%	690.67%	-184.59%	48.03%	-174.99%	-91.26%	232.36%	-34.99%
EBITDA Growth	-25.06%	-54.93%	-29.34%	-28.70%	1,613.36%	23.47%	92.16%	-189.01%	-92.34%	488.32%	11.07%
EBIT Growth	-25.31%	-11.12%	-29.35%	-28.68%	1,619.15%	-87.19%	92.87%	-189.01%	-92.32%	241.34%	-36.64%
NOPAT Growth	8.03%	-14.86%	-27.34%	-28.13%	1,150.87%	-81.09%	92.94%	-161.92%	-92.32%	301.46%	-36.64%
Net Income Growth	-30.91%	-42.40%	-0.11%	-27.80%	1,855.96%	-87.20%	40.33%	-199.98%	-92.32%	238.89%	-36.64%
EPS Growth	-46.51%	250.00%	-35.71%	188.46%	343.48%	-371.43%	-46.30%	-186.67%	-173.53%	128.95%	-141.38%
Operating Cash Flow Growth	-2,145.23%	14.35%	-9.73%	-3.99%	306.07%	173.89%	259.67%	-91.88%	-60.73%	-452.58%	-145.51%
Free Cash Flow Firm Growth	0.00%	0.00%	82.56%	90.21%	116.72%	98.65%	276.54%	504.28%	74.30%	11,783.14%	-16.10%
Invested Capital Growth	0.00%	27.86%	19.97%	19.02%	-1.01%	-12.42%	-19.14%	-33.87%	-27.88%	-22.69%	-21.22%
Revenue Q/Q Growth	-86.27%	-468.65%	148.94%	232.59%	14.91%	-232.69%	129.19%	-364.95%	113.39%	1,909.52%	-85.66%
EBITDA Q/Q Growth	-93.67%	-1,644.83%	131.07%	241.70%	52.18%	-169.00%	153.55%	-420.60%	113.09%	3,398.98%	-84.68%
EBIT Q/Q Growth	-93.69%	-1,211.62%	131.07%	241.62%	52.18%	-221.04%	130.65%	-418.05%	113.13%	2,127.71%	-86.26%
NOPAT Q/Q Growth	-91.31%	-685.25%	142.86%	243.88%	51.23%	-184.73%	143.79%	-322.50%	118.76%	2,122.64%	-86.23%
Net Income Q/Q Growth	-94.44%	-1,443.59%	140.09%	151.28%	50.53%	-228.59%	128.85%	-460.92%	111.56%	2,225.69%	-86.84%
EPS Q/Q Growth	-77.88%	82.61%	28.57%	455.56%	-66.00%	-211.76%	125.44%	-996.55%	71.15%	144.00%	-136.36%
Operating Cash Flow Q/Q Growth	-264.36%	85.56%	-357.37%	188.47%	252.78%	-94.82%	888.30%	-95.50%	1,606.17%	-146.48%	-27.55%
Free Cash Flow Firm Q/Q Growth	-20.93%	70.01%	49.12%	46.41%	306.57%	-102.43%	6,665.72%	37.92%	-10.94%	62.80%	-52.85%
Invested Capital Q/Q Growth	4.23%	2.61%	4.81%	6.18%	-13.31%	-9.21%	-3.24%	-13.16%	-5.45%	-2.68%	-1.40%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	45.70%	0.00%	72.78%	74.78%	99.03%	0.00%	94.48%	0.00%	86.77%	151.09%	161.43%
EBIT Margin	45.55%	0.00%	72.81%	74.78%	99.04%	0.00%	94.86%	0.00%	87.02%	96.47%	92.45%
Profit (Net Income) Margin	40.03%	0.00%	100.06%	75.60%	99.04%	0.00%	94.86%	0.00%	87.02%	100.71%	92.45%
Tax Burden Percent	63.95%	102.77%	137.44%	101.09%	100.00%	106.24%	100.00%	113.55%	100.00%	104.64%	100.00%
Interest Burden Percent	137.44%	103.37%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	99.77%	100.00%
Effective Tax Rate	0.00%	0.00%	0.03%	-0.62%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	40.67%	0.00%	8.95%	8.12%	24.90%	0.00%	14.22%	0.00%	0.00%	27.19%	24.25%
ROIC Less NNEP Spread (ROIC-NNEP)	35.79%	0.00%	15.14%	8.37%	24.90%	0.00%	14.22%	0.00%	0.00%	112.34%	24.25%
Return on Net Nonoperating Assets (RNNOA)	8.02%	0.00%	3.40%	1.79%	3.33%	0.00%	2.15%	0.00%	0.00%	2.07%	0.10%
Return on Equity (ROE)	48.69%	0.00%	12.35%	9.91%	28.23%	0.00%	16.37%	-1.00%	-18.35%	29.26%	24.35%
Cash Return on Invested Capital (CROIC)	0.00%	-15.15%	-10.23%	-13.75%	19.85%	23.59%	34.20%	38.27%	17.84%	52.50%	48.61%
Operating Return on Assets (OROA)	14.06%	0.00%	8.56%	7.63%	23.43%	0.00%	13.65%	0.00%	0.00%	25.96%	23.53%
Return on Assets (ROA)	12.36%	0.00%	11.77%	7.71%	23.43%	0.00%	13.65%	0.00%	0.00%	27.10%	23.53%
Return on Common Equity (ROCE)	48.69%	0.00%	12.35%	9.91%	28.23%	0.00%	16.37%	-1.00%	-18.35%	29.26%	24.35%
Return on Equity Simple (ROE_SIMPLE)	37.49%	0.00%	10.90%	5.44%	20.99%	0.00%	13.37%	-1.11%	-21.23%	0.00%	28.50%
Net Operating Profit after Tax (NOPAT)	0.93	-5.45	2.24	7.70	12	-9.87	4.32	-4.77	0.89	20	2.74
NOPAT Margin	62.60%	0.00%	72.78%	75.25%	99.04%	0.00%	94.86%	0.00%	87.02%	96.25%	92.45%
Net Nonoperating Expense Percent (NNEP)	4.88%	27.14%	-6.18%	-0.26%	0.00%	55.49%	0.00%	34.50%	0.00%	-85.15%	0.00%
SG&A Expenses to Revenue	3.84%	0.00%	2.42%	0.81%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	54.45%	0.00%	27.19%	25.22%	0.96%	0.00%	4.58%	0.00%	12.98%	3.53%	7.55%
Earnings before Interest and Taxes (EBIT)	0.68	-7.53	2.24	7.65	12	-14	4.32	-6.81	0.89	20	2.74
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	0.68	-11	2.24	7.65	12	-8.04	4.30	-6.81	0.89	31	4.78
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.50	0.46	0.56	0.55	0.59	0.67	0.76	0.84	0.80	0.63	0.68
Price to Tangible Book Value (P/TBV)	0.50	0.46	0.56	0.55	0.59	0.67	0.76	0.84	0.80	0.63	0.68
Price to Revenue (P/Rev)	1.27	2.76	3.78	4.41	2.20	4.64	4.56	0.00	0.00	1.95	2.28
Price to Earnings (P/E)	1.35	4.31	7.11	20.14	3.20	4.98	4.25	0.00	0.00	2.04	2.40
Dividend Yield	7.52%	8.71%	7.50%	7.15%	6.74%	6.34%	5.18%	5.40%	6.00%	15.51%	14.64%
Earnings Yield	73.94%	23.19%	14.07%	4.96%	31.25%	20.08%	23.54%	0.00%	0.00%	48.92%	41.62%
Enterprise Value to Invested Capital (EV/IC)	0.55	0.53	0.65	0.61	0.56	0.67	0.69	0.77	0.63	0.55	0.68
Enterprise Value to Revenue (EV/Rev)	1.69	4.04	5.80	6.16	2.23	4.78	4.11	0.00	0.00	1.70	2.29
Enterprise Value to EBITDA (EV/EBITDA)	1.78	10.07	8.20	15.59	2.92	3.35	2.88	0.00	0.00	1.05	1.26
Enterprise Value to EBIT (EV/EBIT)	1.78	5.83	8.21	15.61	2.92	6.08	4.71	0.00	0.00	1.78	2.41
Enterprise Value to NOPAT (EV/NOPAT)	1.78	6.43	9.00	18.36	2.97	6.05	4.72	0.00	0.00	1.78	2.41
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	3.10	2.95	1.61	1.81	2.27	2.55	6,817.96
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	2.82	2.66	1.80	1.59	2.94	0.91	1.24
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.22	0.27	0.31	0.25	0.06	0.03	0.00	0.00	0.00	0.00	0.01
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.02	0.00	0.00	0.00	0.00	0.00
Financial Leverage	0.22	0.16	0.22	0.21	0.13	0.15	0.15	0.14	0.03	0.02	0.00
Leverage Ratio	1.29	1.22	1.28	1.28	1.21	1.22	1.20	1.18	1.08	1.07	1.04
Compound Leverage Factor	1.77	1.26	1.28	1.28	1.21	1.22	1.20	1.18	1.08	1.07	1.04
Debt to Total Capital	18.31%	21.09%	23.77%	20.06%	5.25%	3.21%	0.00%	0.00%	0.00%	0.00%	0.97%
Short-Term Debt to Total Capital	18.31%	21.09%	23.77%	20.06%	5.25%	0.89%	0.00%	0.00%	0.00%	0.00%	0.97%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	2.32%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	81.69%	78.91%	76.23%	79.94%	94.75%	96.79%	100.00%	100.00%	100.00%	100.00%	99.03%
Debt to EBITDA	0.59	3.98	2.98	5.11	0.27	0.16	0.00	0.00	0.00	0.00	0.02
Net Debt to EBITDA	0.44	3.17	2.86	4.43	0.04	0.10	0.00	0.00	0.00	0.00	0.01
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.12	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.59	2.54	3.27	6.02	0.28	0.29	0.00	0.00	0.00	0.00	0.03
Net Debt to NOPAT	0.44	2.03	3.14	5.22	0.04	0.18	0.00	0.00	0.00	0.00	0.01
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.21	0.00	0.00	0.00	0.00	0.00
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-74	-22	-11	-6.00	12	-0.30	20	24	22	35	17
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	-35.45	-28.73	0.00	50.63	-0.66	542.11	0.00	850.63	695.21	560.43
Operating Cash Flow to Interest Expense	0.00	-1.69	-12.41	0.00	61.66	1.72	211.84	0.00	233.40	-54.47	-118.79
Operating Cash Flow Less CapEx to Interest Expense	0.00	-1.69	-12.41	0.00	61.66	1.72	211.84	0.00	233.40	-54.47	-118.79
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.31	0.14	0.12	0.10	0.24	0.12	0.14	0.00	0.00	0.27	0.25
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	75	77	81	86	74	67	65	57	54	52	51
Invested Capital Turnover	0.65	0.15	0.12	0.11	0.25	0.13	0.15	0.00	0.00	0.28	0.26
Increase / (Decrease) in Invested Capital	75	17	13	14	-0.76	-9.57	-15	-29	-21	-15	-14
Enterprise Value (EV)	41	41	53	52	42	45	45	43	34	29	35
Market Capitalization	31	28	34	38	41	44	50	48	43	33	35
Book Value per Share	$23.77	$23.56	$23.85	$26.56	$27.29	$25.31	$21.99	$19.10	$18.06	$17.57	$17.16
Tangible Book Value per Share	$23.77	$23.56	$23.85	$26.56	$27.29	$25.31	$21.99	$19.10	$18.06	$17.57	$17.16
Total Capital	75	77	81	86	74	67	65	57	54	52	51
Total Debt	14	16	19	17	3.90	2.17	0.00	0.00	0.00	0.00	0.50
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	1.57	0.00	0.00	0.00	0.00	0.00
Net Debt	10	13	18	15	0.55	1.33	-4.93	-4.42	-9.49	-4.21	0.17
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Expense (NNE)	0.34	2.55	-0.84	-0.04	0.00	5.11	0.00	2.97	0.00	-0.92	0.00
Net Nonoperating Obligations (NNO)	14	16	19	17	3.90	2.17	0.00	0.00	0.00	0.00	0.50
Total Depreciation and Amortization (D&A)	0.00	-2.97	-0.00	-0.00	-0.00	6.06	-0.02	0.00	-0.00	11	2.04
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.23	$0.42	$0.54	$3.00	$1.02	($1.14)	$0.29	($2.60)	($0.75)	$0.33	($0.12)
Adjusted Weighted Average Basic Shares Outstanding	2.58M	2.58M	2.58M	2.58M	2.58M	2.58M	2.87M	2.97M	2.97M	2.95M	2.97M
Adjusted Diluted Earnings per Share	$0.23	$0.42	$0.54	$3.00	$1.02	($1.14)	$0.29	($2.60)	($0.75)	$0.33	($0.12)
Adjusted Weighted Average Diluted Shares Outstanding	2.58M	2.58M	2.58M	2.58M	2.58M	2.58M	2.87M	2.97M	2.97M	2.95M	2.97M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	2.58M	2.58M	2.58M	2.58M	2.58M	2.97M	2.97M	2.97M	2.97M	2.97M	2.97M
Normalized Net Operating Profit after Tax (NOPAT)	0.86	-5.45	2.24	5.63	8.15	-9.87	3.02	-4.75	0.63	14	1.92
Normalized NOPAT Margin	57.49%	0.00%	72.78%	55.04%	69.33%	0.00%	66.40%	0.00%	60.91%	67.38%	64.71%
Pre Tax Income Margin	62.60%	0.00%	72.81%	74.78%	99.04%	0.00%	94.86%	0.00%	87.02%	96.25%	92.45%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	-12.00	5.74	0.00	47.54	-31.01	118.44	0.00	35.19	393.61	92.46
NOPAT to Interest Expense	0.00	-8.68	5.74	0.00	47.54	-21.71	118.44	0.00	35.19	392.72	92.46
EBIT Less CapEx to Interest Expense	0.00	-12.00	5.74	0.00	47.54	-31.01	118.44	0.00	35.19	393.61	92.46
NOPAT Less CapEx to Interest Expense	0.00	-8.68	5.74	0.00	47.54	-21.71	118.44	0.00	35.19	392.72	92.46
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	12.12%	53.69%	53.07%	98.20%	25.49%	28.61%	51.87%	-737.90%	-41.76%	45.19%	35.17%
Augmented Payout Ratio	12.12%	53.69%	53.07%	98.20%	25.49%	28.61%	51.87%	-737.90%	-41.76%	45.19%	35.17%

Financials Breakdown Chart

Rand Capital Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Rand Capital's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Rand Capital's net income appears to be on an upward trend, with a most recent value of $16.11 million in 2025, rising from $13.89 million in 2021. The previous period was $7.49 million in 2024. Check out Rand Capital's forecast to explore projected trends and price targets.

Over the last 4 years, Rand Capital's total revenue changed from $14.49 million in 2021 to $16.91 million in 2025, a change of 16.7%.

Rand Capital's total liabilities were at $1.01 million at the end of 2025, a 85.8% decrease from 2024, and a 82.4% decrease since 2022.

In the past 3 years, Rand Capital's cash and equivalents has ranged from $834.81 thousand in 2024 to $4.21 million in 2025, and is currently $4.21 million as of their latest financial filing in 2025.

Over the last 4 years, Rand Capital's book value per share changed from 0.00 in 2021 to 17.57 in 2025, a change of 1,757.1%.

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Financial statements for NASDAQ:RAND last updated on 7/16/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Rand Capital (RAND) Financials

Financials Breakdown Chart

Rand Capital Financials - Frequently Asked Questions

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Rand Capital (RAND) Financials

Annual Income Statements for Rand Capital

Quarterly Income Statements for Rand Capital

Annual Cash Flow Statements for Rand Capital

Quarterly Cash Flow Statements for Rand Capital

Annual Balance Sheets for Rand Capital

Quarterly Balance Sheets for Rand Capital

Annual Metrics And Ratios for Rand Capital

Quarterly Metrics And Ratios for Rand Capital

Financials Breakdown Chart

Rand Capital Financials - Frequently Asked Questions

When does Rand Capital's financial year end?

How has Rand Capital's net income changed over the last 4 years?

How has Rand Capital's revenue changed over the last 4 years?

How much debt does Rand Capital have?

How much cash does Rand Capital have?

How has Rand Capital's book value per share changed over the last 4 years?

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