)
Visual
test
BlackRock TCP Capital
BlackRock TCP Capital (TCPC) investor relations material
BlackRock TCP Capital Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Net asset value per share remained stable at $8.71 as of September 30, 2025, reflecting portfolio stability.
Adjusted net investment income for Q3 2025 was $0.30 per share, consistently covering the regular dividend of $0.25 per share.
Non-accruals declined to 3.5% of portfolio fair value, down from 5.6% at the end of 2024.
Portfolio diversification improved, with average position size reduced to $7.8 million from $11.7 million at end of 2024.
Completed the merger with BlackRock Capital Investment Corporation in March 2024, integrating assets and liabilities.
Financial highlights
Total investment income for Q3 2025 was $50.5 million ($0.59 per share), with net realized losses of $97.0 million and net unrealized gains of $94.1 million.
Net increase in net assets from operations was $24.4 million ($0.29 per share) in Q3 2025.
For the nine months ended September 30, 2025, net investment income was $87.1 million and dividends declared totaled $0.87 per share.
Total fair value of investments was $1.91 billion across 156 portfolio companies at quarter end.
Operating expenses for the nine months ended September 30, 2025, were $70.8 million, down from $100.2 million in the prior year.
Outlook and guidance
Management expects a full write-down of the Renovo investment in Q4 2025, impacting NAV by $0.15 per share.
Focus remains on resolving challenged credits, portfolio diversification, and delivering sustainable returns.
M&A activity and deal flow are showing early signs of recovery, with expectations for higher volumes.
Management fee waiver in place for three quarters through September 30, 2025.
Board declared a Q4 2025 dividend of $0.25 per share, payable December 31, 2025.
Address new vs exited investment yield gap
How do repurchases impact NAV accretion?
Renovo write-down: lessons for credit monitoring
What drives post-restructuring re-defaults?
Is PFS increasing high-quality deal conversion?
How does lower average position size reduce risk?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Latest summaries
- TimeTickerHeadlineOpen
- 443060
Operating profit rose 28.9% in 2025, with strong core business and digital segment growth. - GM
Disciplined transformation, resilient cash flow, and software growth drive a strong outlook. - BTBT
Transitioned to a strategic asset model centered on ETH staking and AI infrastructure growth. - COR
Q1 FY2026 revenue up 5.5% to $85.9B; adjusted EPS rose 9.4% to $4.08. - STC
Scalable, high-margin IT communications provider for SMBs with strong recurring revenue and growth momentum. - APAM
AUM hit $180B, strong returns and Grandview deal drove growth despite equity outflows. - PSX
Q4 2025 earnings hit $2.9B, with record refining yields and strong portfolio transformation. - ARCC
FY 2025 delivered $2.01 Core EPS, $1.86 net income/share, and a $0.48 Q1 2026 dividend. - HMN
Record core earnings, 12.4% ROE, and 10% EPS growth guidance for 2026. - AFG
Record underwriting profit, strong ROE, and over $700M returned to shareholders in 2025.
Next BlackRock TCP Capital earnings date
Q4 202527 Feb, 2026
BlackRock TCP Capital
Next BlackRock TCP Capital earnings date
Q4 202527 Feb, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
BlackRock TCP Capital Corp. is a business development company that provides financing solutions to middle-market companies. The company primarily invests in senior secured loans, as well as mezzanine and equity investments, across a diverse range of industries. BlackRock TCP Capital Corp. focuses on generating income and capital appreciation for its shareholders through disciplined investment strategies and long-term partnerships. The company is headquartered in Santa Monica, California, and its shares are listed on the NASDAQ.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage