# Great Elm Capital Corp. (GECC)

**Exchange:** NASDAQ  
**Sector:** Financial Services  
**Market cap:** $59M  
**Price:** $6.01

> Great Elm Capital Corp. is an externally managed business development company focused on generating current income and capital appreciation. It invests primarily in debt and income-generating equity securities, with a strong emphasis on specialty finance companies involved in areas such as factoring, early-stage business financing, asset-backed lending, small and medium-sized businesses, asset-based lending, and healthcare-focused businesses. The company also allocates to loans, bonds, preferred equities, collateralized loan obligations, and other non-specialty finance investments, maintaining over 99% of its portfolio in performing, income-producing assets. Great Elm Capital Corp. seeks durable risk-adjusted returns from cash-generating investments to support dividends and compound asset value. Externally managed by Great Elm Capital Management, it benefits from a specialty finance platform and strategic partnerships that provide access to differentiated asset classes in corporate credit and income-focused strategies. Founded in 2016 and headquartered in New York, New York, Great Elm Capital Corp. plays a key role in providing investors exposure to bespoke credit opportunities outperforming liquid markets.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2024 | $39M | — | — | — | — |
| 2023 | $36M | — | — | — | — |
| 2022 | $24M | — | — | — | — |
| 2021 | $25M | — | — | — | — |
| 2020 | $23M | — | — | — | — |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2024 | $342M | $206M | $136M | — | — |
| 2023 | $247M | $148M | $99M | $953,000 | — |
| 2022 | $310M | $225M | $85M | $587,000 | — |
| 2021 | $426M | $352M | $75M | $9M | — |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | -$3M | — | — |
| 2024 | -$83M | — | — |
| 2023 | $26M | — | — |
| 2022 | -$42M | — | — |
| 2021 | -$58M | — | — |
| 2020 | $27M | — | — |

Source: [CompaniesByCap](https://companiesbycap.com/company/GECC)