10-K · February 26, 2026
Fidus Investment Corporation (FDUS) positions itself as a lower-middle market lender and value-added partner, emphasizing first‑lien/unitranche debt and selectively paired equity investments. As of December 31, 2025 the…
Earnings analysis · 10-Q
FDUS earnings analysis
Filed May 7, 2026 · Our reading of the company's report
The latest report
Fidus Investment Corporation (FDUS) reported strong Q1 2026 financial results with total revenue of $47.5 million and EPS of $0.62, exceeding analyst expectations. The company showed robust growth in investment income,…
Read full summary
Fidus Investment Corporation (FDUS) reported strong Q1 2026 financial results with total revenue of $47.5 million and EPS of $0.62, exceeding analyst expectations. The company showed robust growth in investment income, primarily driven by increased fee income, and maintained solid performance across its portfolio despite a decline in net realized gains. Management highlighted confidence in future capital distributions as they continue to navigate macroeconomic conditions.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.62
What stood out
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Revenue Growth Exceeds Estimates
Total revenue reached $47.5 million, surpassing estimates of $41.9 million, representing a 30.2% year-over-year increase.
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EPS Beat Expectations
Reported EPS of $0.62 outperformed analysts' estimate of $0.50.
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Significant Increase in Fee Income
Fee income grew substantially by 320.5%, increasing from $2.1 million to $8.9 million.
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Strong Investment Income Growth
Total investment income surged by $11.0 million to $47.5 million, up 30.2% year-over-year.
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Increased Net Investment Income
Net investment income rose to $24.6 million, a 35.2% increase compared to Q1 2025.
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Quarterly Dividend Announced
Management declared a dividend of $0.62 per share for Q2 2026, reflecting confidence in ongoing performance.
What to watch
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Decline in Net Realized Gains
Net realized loss on investments was $(12.2) million due to significant losses from specific investment exits.
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Rising Financial Expenses
Interest and financing expenses increased to $9.8 million, up 44.3% from $6.8 million due to higher borrowing costs.
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Geopolitical and Economic Uncertainties
Ongoing geopolitical tensions and inflationary pressures could impact portfolio performance and investment opportunities.
Management's outlook
No explicit numeric guidance provided; management expects continued strong investment income.
Earlier filings 4
10-Q · August 7, 2025
Fidus reported Q2 2025 investment income of $39.97M (vs $35.66M in Q2 2024) and net increase in net assets resulting from operations of $25.28M ($0.72 per share). Net investment income per share was stable at $0.53 for…
10-K · March 6, 2025
Fidus Investment Corporation (FDUS) positions itself as a lower middle‑market debt and equity investor using both its public BDC vehicle and two SBIC funds to access lower‑cost SBA debentures. As of December 31, 2024…
10-Q · October 31, 2024
Fidus Investment (10-Q for quarter ended September 30, 2024) posted higher investment income but a material swing in investment valuations reduced operating earnings growth. Total investment income for the quarter rose…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.