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Fidus Investment Corporation

Fidus Investment Corporation

NASDAQ•FDUS
CEO: Mr. Edward H. Ross
Sector: Financial Services
Industry: Asset Management
Listing Date: 2011-06-21
Fidus Investment Corporation is a business development company. It specializing in leveraged buyouts, refinancings, change of ownership transactions, recapitalizations, strategic acquisitions, mezzanine, growth capital, business expansion, lower middle market investments, debt investments, subordinated and second lien loans, senior secured and unitranche debt, preferred equity, warrants, subordinated debt, senior subordinated notes, junior secured loans, and unitranche loans. It does not invest in turnarounds or distressed situations. The fund prefers to invest in aerospace and defense, business services, consumer products and services including retail, food, and beverage, healthcare products and services, industrial products and services, information technology services, niche manufacturing, transportation and logistics, and value-added distribution sectors. It seeks to invest in companies based in United States. The fund typically invests between $5 million and $15 million per transaction in companies with annual revenues between $10 million and $150 million and an annual EBITDA between $3 million and $20 million, but it can occasionally invest in larger or smaller companies. It seeks to acquire minority equity stakes and board observation rights in conjunction with its investments.
Contact Information
1603 Orrington Avenue, Suite 1005, Evanston, IL, 60201, United States
847-859-3940
www.fdus.com
Market Cap
$688.17M
P/E (TTM)
8.9
0
Dividend Yield
11.4%
52W High
$23.55
52W Low
$16.70
52W Range
46%
Rank43Top 38.2%
4.2
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Average • 4.2 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$29.77M-21.69%
4-Quarter Trend

EPS

$0.49+0.00%
4-Quarter Trend

FCF

$5.84M-70.53%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

NAV Per Share Rises Net asset value per share reached $19.56, reflecting growth from $19.33 previously reported for the period.
Investment Income Rises Total investment income increased 4.6% to $113.7M for nine months ended September 30, 2025, driven by higher debt balances.
Total Net Assets Increased Total net assets grew to $711.0M by September 30, 2025, up from $655.7M at year-end 2024, showing portfolio appreciation.
Debt Structure Significantly Changed Company fully redeemed $100.0M January 2026 Notes post-period; terminated Revolving Credit Facility in October 2025.

Risk Factors

Variable Rate Debt Exposure 72.0% of debt investments bear variable rates; interest rate volatility directly impacts net investment income and funding costs.
Economic Downturn Risks Economic downturns or geopolitical instability could impair portfolio companies' ability to operate, potentially leading to investment losses.
Tariff and Trade Policy Risk Uncertainty regarding U.S. tariffs and trade policies may negatively affect portfolio company revenues, profitability, and competitiveness.
Non-Accrual Investment Exposure Debt investments in three portfolio companies were on non-accrual status as of September 30, 2025, indicating credit quality concerns.

Outlook

March 2030 Notes Issued Issued $100.0M in additional March 2030 Notes post-period, bringing total outstanding to $200.0M, extending maturity profile.
New SPV Credit Facility Entered new $175.0M SPV Credit Facility in October 2025, secured by specific assets, providing new borrowing capacity.
New Investment Activity Invested $16.0M debt and $1.0M equity in Bobcat of Connecticut, LLC, plus $23.2M debt in GPS Insight, Inc.
Quarterly Dividend Declared Board declared $0.43 regular and $0.07 supplemental dividend per share, payable December 29, 2025, maintaining shareholder returns.

Peer Comparison

Revenue (TTM)

Vinci Partners Investments Ltd.VINP
$197.03M
+113.7%
Bain Capital Specialty Finance, Inc.BCSF
$171.17M
-23.7%
SLR Investment Corp.SLRC
$167.35M
-15.2%

Gross Margin (Latest Quarter)

Vinci Partners Investments Ltd.VINP
92.2%
+24.1pp
SLR Investment Corp.SLRC
74.6%
+18.1pp
Gladstone Investment CorporationGAIN
73.3%
+2.6pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
BCSF$930.86M8.79.4%0.0%
SLRC$850.23M9.49.1%45.0%
VINP$829.07M18.812.6%25.4%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-7.4%
Growth Under Pressure
4Q Net Income CAGR
2.8%
Profitability Slowly Improving
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Mar 5, 2026
|
EPS:$0.48
|
Revenue:-
Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 6, 2025|
    Revenue: $29.77M-21.7%
    |
    EPS: $0.49+0.0%
    Miss
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 7, 2025|
    Revenue: $35.49M-0.5%
    |
    EPS: $0.72-4.0%
    Meet
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 8, 2025|
    Revenue: $49.83M+43.8%
    |
    EPS: $0.53-18.5%
    Meet
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Mar 6, 2025|
    Revenue: $113.68M+2.3%
    |
    EPS: $2.40-18.1%
    Beat
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Oct 31, 2024|
    Revenue: $38.02M+11.2%
    |
    EPS: $0.49-46.2%
    Miss
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 1, 2024|
    Revenue: $35.66M+16.7%
    |
    EPS: $0.75+70.5%
    Beat
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 2, 2024|
    Revenue: $34.65M+19.3%
    |
    EPS: $0.65+4.8%
    Beat
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 29, 2024|
    Revenue: $154.18M-3.5%
    |
    EPS: $2.93+100.7%
    Beat