NASDAQ$TCPC

BlackRock TCP Capital Corp · Q4 2025 earnings

Q4 2025 earnings · · Before market open · Investor relations

Briefing

BlackRock TCP Capital reported Q4 2025, net income of $22.1M, diluted EPS of $0.26.

For Q4 2025, BlackRock TCP Capital reported net income of $22.1M, diluted EPS was $0.26. Management discusses segment performance, capital allocation, and macro risks in the quarterly filing.

  • Net income $22.1M.
  • Diluted EPS $0.26.
  • BlackRock TCP Capital MD&A covers liquidity, credit, and operating priorities.

Headline financials

Total Revenue

$43.9M

Previous: $61.2M-28.3%
EPS (adj)

$0.26

Previous: $0.36-27.8%
Loans on Non-Accrual Status

14

No prior period
Debt Portfolio Yield

11.1%

No prior period
Total Portfolio Yield

10.2%

No prior period
Net Income

$22.1M

Previous: $33.8M-34.6%
Operating Income

$22.1M

Previous: $34.3M-35.6%

Revenue & EPS history

BlackRock TCP · Revenue · Quarterly

$43.9M

Q4 2025-28.3%vs Q4 2024
Beat estimate in 2 of 12 quarters(17%)
ActualEstimate

Forward guidance

BDC outlook focuses on portfolio yield, credit quality, dividend coverage, and NAV trends.

Tailwinds

  • Net investment income covers regular distributions.
  • Middle-market diversification.
  • Spread income in higher-rate environment.

Headwinds

  • Issuer credit deterioration risk.
  • NAV volatility from marks.
  • Refinancing and syndication markets.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q4 2025

Historical avgQ4 2025

+0.9%

Avg return

Earnings day

+1.4%

Avg return

5 days after

+0.8%

Avg return

30 days after

63%

12 / 19 earnings

Positive

+11.7%

Q3 2024

Best reaction

-10.5%

Q4 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.2%-3.2%-15.8%
Q4 2025-9.3%-8.4%-23.7%
Q3 2025+4.7%+3.6%+10.5%
Q1 2025+7.4%+15.3%+18.3%
Q4 2024-9.6%-12.7%-14.5%
Q3 2024+11.7%+11.9%+20.4%
Q2 2024-8.2%-12.6%-8.4%
Q1 2024+2.1%+3.7%+9.9%
Q4 2023-5.5%-5.5%-6.5%
Q3 2023+6.6%+5.7%+12.9%
Q2 2023+6.9%+5.4%+3.7%
Q1 2023+5.6%+6.4%+9.5%
Q4 2022-10.5%-8.1%-20.8%
Q3 2022+10.7%+12.7%+10.2%
Q2 2022+1.2%+4.4%+2.1%
Q1 2022+0.7%-0.5%-1.3%
Q4 2021+1.8%+1.3%+4.6%
Q3 2021-0.5%-0.1%-5.3%
Q4 2020+2.3%+7.8%+10.4%

Discussion

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