Private Credit Portfolio Analysis | Stellus Capital Investment Corp Reports Q1 2025 Results
- Editor
- May 12
- 2 min read
Whats New:
Stellus Capital Investment Corp reported its Q1 2025 financial results, showing growth in assets and liabilities compared to the previous quarter. The fund's total assets increased to $1.01 billion as of March 31, 2025, up from $980.9 million at the end of 2024. Net asset value per share decreased slightly to $13.25 from $13.46 at the end of the previous quarter.
Portfolio Dynamics:
Total assets grew to $1.01 billion as of March 31, 2025, compared to $980.9 million at the end of 2024.
Investments owned at fair value increased to $991.1 million, up from $953.5 million at the end of 2024.
Cash and cash equivalents decreased to $10.9 million from $20.1 million at the end of 2024.
Investment Activity:
Receivable from investment sales increased to $446,586 from $335,689 at the end of 2024.
Dividend and interest receivable rose to $6.2 million from $4.9 million at the end of 2024.
Income taxes receivable increased to $2.4 million from $1.3 million at the end of 2024.
Capital Structure:
Total liabilities increased to $639.0 million from $611.0 million at the end of 2024.
Line of credit balance rose to $219.1 million from $172.3 million at the end of 2024.
Guaranteed debentures decreased to $305.2 million from $321.3 million at the end of 2024.
Performance Profile:
Net asset value per share decreased to $13.25 as of March 31, 2025, compared to $13.46 at the end of 2024.
Stockholders' equity grew to $372.8 million from $369.9 million at the end of 2024.
Retained earnings deficit increased to $15.7 million from $9.7 million at the end of 2024.
Risk & Quality:
Income incentive fee payable decreased to $1.7 million from $3.1 million at the end of 2024.
Management fee payable slightly increased to $4.1 million from $4.0 million at the end of 2024.
Other liabilities increased to $1.3 million from zero at the end of 2024.
The Wrap:
Stellus Capital Investment Corp demonstrated moderate growth in Q1 2025, with increases in total assets and investments at fair value. However, the fund also saw an increase in liabilities, particularly in its line of credit balance. The slight decrease in net asset value per share and increase in retained earnings deficit suggest some challenges in maintaining profitability. The fund's performance reflects a complex balance between asset growth and managing liabilities in the current market environment.
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