Income statement, balance sheet and cash flow statement for the last 5 fiscal years, taken from the XBRL data RAND CAPITAL CORP files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2021
FY2023
FY2023
FY2024
FY2025
Operating expenses
6.67
1.12
4.18
4.84
1.19
Interest expense
0.62
0.07
1.04
1.09
0.11
Interest income
0.01
0
0
0
0.18
Pre-tax income
3.68
3.52
Income tax
0.01
0.22
0.19
Net income
15.8
-0.88
6.53
8.83
-8.04
EPS, basic
6.12
-0.34
2.53
3.42
-2.73
EPS, diluted
6.12
-0.34
2.53
3.42
-2.73
Shares, basic (weighted)
2.58
2.58
2.58
2.58
2.95
Shares, diluted (weighted)
2.58
2.58
2.58
2.58
2.95
Balance sheet
FY2021
FY2023
FY2023
FY2024
FY2025
Cash and equivalents
0.83
1.37
3.3
0.83
4.21
Total assets
63.5
81
72.5
53.2
Total liabilities
5.76
20.2
7.12
1.01
Paid-in capital
51.5
55.8
55.4
64.1
Retained earnings
7.56
6.32
2.54
-10.6
Treasury stock
-1.57
-1.57
-1.57
-1.57
Shareholders' equity
60.7
57.7
60.8
65.3
52.2
Total equity
60.7
57.7
60.8
65.3
52.2
Total liabilities and equity
63.5
81
72.5
53.2
Shares outstanding
2.58
2.58
2.58
2.97
Cash flow statement
FY2021
FY2023
FY2023
FY2024
FY2025
Net income
15.8
-0.88
6.53
8.83
-8.04
Depreciation and amortization
0.18
0.01
0.03
0.03
0.03
Deferred income tax
-0.3
0.15
-0.01
0.04
0
Change in payables
-0.12
0.01
0.08
-0.05
0.01
Cash from operations
-3.94
0.25
-8.34
15.3
11.3
Share buybacks
-0.02
Dividends paid
-4.57
-2.14
-3.43
-2.14
-7.28
Cash from financing
-15.6
0.28
10.3
-17.8
-7.88
Net change in cash
-19.5
0.54
1.93
-2.46
3.37
Interest paid
0.57
0.05
0.93
1.15
0.09
Income taxes paid
-0.13
-0.01
0.65
0.12
-0
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $10.00 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Return on equity (ROE)
-0.3%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-0.3%
Net income / average total assets.
Growth
Metric
Value
How it is calculated
Net income growth, 1y
-191.1%
Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y
-179.8%
EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y
-26.6%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y
254.6%
Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y
-20.1%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-3.3%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
-26.6%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-5.7%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Share count change, 1y
14.1%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
4.5%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Operating cash flow per share
-$1.34
Cash from operations / diluted weighted shares.
Book value per share
$17.33
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/B
0.58x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
0.58x
Market cap / tangible book value, when positive.
Earnings yield
-0.5%
Net income / market cap (the inverse of P/E).
Dividend yield
17.2%
Dividends paid over the period / market cap.
Shareholder yield
17.2%
(Dividends paid + share buybacks) / market cap.
Was RAND CAPITAL CORP profitable in fiscal 2025?
No. It reported a net loss of $8.0M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.