NASDAQ : RAND
Rand Capital Corporation — Financial statements
Financials · Asset Management · United States
Last price 9.79 USD (Oct 30, 2026, 3:49 PM EDT) · Market cap 29.07M
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Financial statements
Rand Capital Corporation (RAND) reported revenue of 5.50M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 238.91K | 485.88K | 533.72K | 320.74K | 155.91K | 156.61K |
| Other Revenue | 5.26M | 5.99M | 8.03M | 7.02M | 5.61M | 3.92M |
| Revenue | 5.50M | 6.47M | 8.56M | 7.34M | 5.77M | 4.08M |
| Gross Profit | 5.50M | 6.47M | 8.56M | 7.34M | 5.77M | 4.08M |
| Selling, General & Admin | 2.38M | 1.02M | 3.75M | 3.13M | 1.05M | 6.07M |
| Operating Expenses | 2.40M | 1.08M | 3.75M | 3.13M | 1.05M | 6.05M |
| Operating Income | 3.10M | 5.40M | 4.81M | 4.20M | 4.72M | -1.98M |
| Interest Expense | -152.71K | -112.53K | -1.09M | -1.04M | -69.96K | -617.27K |
| EBT Excluding Unusual Items | 2.95M | 5.29M | 3.72M | 3.16M | 4.65M | -2.59M |
| Gain (Loss) on Sale of Investments | -2.99M | -13.33M | 5.40M | 3.56M | -5.31M | 18.40M |
| Pretax Income | -38.53K | -8.04M | 9.12M | 6.72M | -666.31K | 15.81M |
| Income Tax Expense | 107.58K | -2.69K | 296.93K | 192.11K | 215.54K | 10.90K |
| Net Income | -146.10K | -8.04M | 8.83M | 6.53M | -881.85K | 15.80M |
| Net Income to Common | -146.10K | -8.04M | 8.83M | 6.53M | -881.85K | 15.80M |
| Shares Outstanding (Basic) | 2.97M | 2.95M | 2.58M | 2.58M | 2.58M | 2.58M |
| Shares Outstanding (Diluted) | 2.97M | 2.95M | 2.58M | 2.58M | 2.58M | 2.58M |
| EPS (Basic) | -0.05 | -2.73 | 3.42 | 2.53 | -0.34 | 6.12 |
| EPS (Diluted) | -0.05 | -2.73 | 3.42 | 2.53 | -0.34 | 6.12 |
| Free Cash Flow | -3.98M | 11.25M | 15.33M | -8.34M | 252.37K | -3.94M |
| Free Cash Flow Per Share | -1.34 | 3.82 | 5.94 | -3.23 | 0.10 | -1.53 |
| Dividend Per Share | 1.16 | 1.16 | 1.67 | 0.95 | 0.65 | 0.40 |
| Gross Margin | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
| Operating Margin | 56.38% | 83.38% | 56.22% | 57.30% | 81.80% | -48.49% |
| Profit Margin | -2.66% | -124.17% | 103.14% | 88.94% | -15.30% | 387.54% |
| Free Cash Flow Margin | -72.42% | 173.77% | 179.12% | -113.66% | 4.38% | -96.67% |
| EBITDA | -1.94M | |||||
| EBITDA Margin | -47.57% | |||||
| D&A For EBITDA | 37.67K | |||||
| EBIT | 3.10M | 5.40M | 4.81M | 4.20M | 4.72M | -1.98M |
| EBIT Margin | 56.38% | 83.38% | 56.22% | 57.30% | 81.80% | -48.49% |
| Effective Tax Rate | 3.25% | 2.86% | 0.07% | |||
| Revenue as Reported | 5.50M | 6.47M | 8.56M | 7.34M | 5.77M | 4.08M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 429.64K | 4.21M | 834.80K | 3.30M | 1.37M | 833.88K |
| Cash & Short-Term Investments | 429.64K | 4.21M | 834.80K | 3.30M | 1.37M | 833.88K |
| Accounts Receivable | 292.12K | 168.04K | 393.58K | 329.69K | 310.99K | 227.77K |
| Receivables | 292.12K | 168.04K | 393.58K | 329.69K | 310.99K | 227.77K |
| Prepaid Expenses | 84.91K | 16.75K | 16.98K | 16.71K | 10.90K | 9.97K |
| Other Current Assets | 328.09K | 283.58K | 329.37K | 127.87K | 145.38K | 323.77K |
| Total Current Assets | 1.13M | 4.68M | 1.57M | 3.77M | 1.84M | 1.40M |
| Long-Term Investments | 1.40M | 1.40M | 2.50M | 4.15M | 3.54M | 64.07M |
| Long-Term Deferred Tax Assets | 2.16K | 39.18K | 28.16K | 181.00K | ||
| Long-Term Deferred Charges | 25.00K | 37.50K | 62.50K | 87.50K | 112.50K | |
| Other Long-Term Assets | 55.10M | 47.08M | 68.32M | 72.98M | 57.97M | |
| Total Assets | 57.66M | 53.20M | 72.46M | 81.02M | 63.48M | 65.64M |
| Accounts Payable | 85.58K | 101.97K | 92.57K | 145.52K | 66.68K | 51.69K |
| Accrued Expenses | 548.05K | 519.29K | 3.75M | 3.26M | 2.73M | 4.44M |
| Other Current Liabilities | 2.17M | |||||
| Total Current Liabilities | 633.62K | 621.26K | 6.01M | 3.40M | 2.80M | 4.49M |
| Long-Term Debt | 5.10M | 600.00K | 16.25M | 2.55M | ||
| Long-Term Unearned Revenue | 467.15K | 390.60K | 516.44K | 552.26K | 413.97K | 408.89K |
| Total Liabilities | 6.20M | 1.01M | 7.12M | 20.21M | 5.76M | 4.90M |
| Common Stock | 303.77K | 303.77K | 264.89K | 264.89K | 264.89K | 264.89K |
| Additional Paid-In Capital | 64.06M | 64.06M | 55.42M | 55.80M | 51.46M | 51.68M |
| Retained Earnings | -11.34M | -10.62M | 11.21M | 6.32M | 7.56M | 10.37M |
| Treasury Stock | -1.57M | -1.57M | -1.57M | -1.57M | -1.57M | -1.57M |
| Shareholders' Equity | 51.46M | 52.18M | 65.33M | 60.82M | 57.72M | 60.75M |
| Total Liabilities & Equity | 57.66M | 53.20M | 72.46M | 81.02M | 63.48M | 65.64M |
| Total Debt | 5.10M | 600.00K | 16.25M | 2.55M | ||
| Net Cash (Debt) | -4.67M | 4.21M | 234.81K | -12.95M | -1.18M | 833.88K |
| Net Cash Per Share | -1.57 | 1.43 | 0.09 | -5.02 | -0.46 | 0.32 |
| Filing Date Shares Outstanding | 2.97M | 2.97M | 2.97M | 2.58M | 2.58M | 2.58M |
| Total Common Shares Outstanding | 2.97M | 2.97M | 2.58M | 2.58M | 2.58M | 2.58M |
| Working Capital | 501.14K | 4.06M | -4.43M | 365.08K | -959.63K | -3.10M |
| Book Value Per Share | 17.33 | 17.57 | 25.31 | 23.56 | 22.36 | 23.54 |
| Tangible Book Value | 51.46M | 52.18M | 65.33M | 60.82M | 57.72M | 60.75M |
| Tangible Book Value Per Share | 17.33 | 17.57 | 25.31 | 23.56 | 22.36 | 23.54 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -146.10K | -8.04M | 8.83M | 6.53M | -881.85K | 15.80M |
| Other Amortization | 25.00K | 25.00K | 25.00K | 25.00K | 12.50K | 175.41K |
| Loss (Gain) From Sale of Investments | 2.94M | 13.28M | -5.06M | -4.02M | 5.20M | -18.19M |
| Provision & Write-off of Bad Debts | 25.34K | -15.00K | ||||
| Other Operating Activities | -17.05M | -7.77M | 3.50M | -15.72M | -4.09M | -11.08M |
| Change in Accounts Receivable | 19.07K | 164.15K | -112.93K | -36.26K | -80.29K | 145.14K |
| Change in Accounts Payable | 46.98K | 9.41K | -52.95K | 78.84K | 14.99K | -119.68K |
| Change in Unearned Revenue | 89.67K | -125.84K | -35.81K | 138.28K | 5.08K | 254.99K |
| Change in Income Taxes | 16.61K | 45.78K | -201.50K | -51.47K | 175.61K | -31.27K |
| Change in Other Net Operating Assets | -8.22K | -3.19M | 537.62K | 605.58K | -1.71M | 4.17M |
| Operating Cash Flow | -3.98M | 11.25M | 15.33M | -8.34M | 252.37K | -3.94M |
| Long-Term Debt Issued | 13.70M | 2.55M | ||||
| Long-Term Debt Repaid | -600.00K | -15.65M | -11.00M | |||
| Net Debt Issued (Repaid) | 5.10M | -600.00K | -15.65M | 13.70M | 2.55M | -11.00M |
| Repurchase of Common Stock | -20.77K | |||||
| Common Dividends Paid | -2.74M | -4.91M | -2.14M | -2.45M | -1.68M | -4.57M |
| Other Financing Activities | -125.00K | |||||
| Financing Cash Flow | -7.96K | -7.88M | -17.79M | 10.27M | 282.75K | -15.59M |
| Net Cash Flow | -3.99M | 3.37M | -2.46M | 1.93M | 535.12K | -19.53M |
| Free Cash Flow | -3.98M | 11.25M | 15.33M | -8.34M | 252.37K | -3.94M |
| Free Cash Flow Margin | -72.42% | 173.77% | 179.12% | -113.66% | 4.38% | -96.67% |
| Free Cash Flow Per Share | -1.34 | 3.82 | 5.94 | -3.23 | 0.10 | -1.53 |
| Levered Free Cash Flow | 1.94M | -1.79M | 4.69M | 2.60M | 1.32M | -726.27K |
| Unlevered Free Cash Flow | 2.01M | -1.74M | 5.35M | 3.23M | 1.35M | -515.89K |
| Cash Interest Paid | 106.88K | 92.53K | 1.15M | 934.64K | 48.27K | 567.07K |
| Cash Income Tax Paid | 33.29K | 3.13K | 121.43K | 645.25K | -5.25K | -131.93K |
| Change in Working Capital | 164.11K | -3.10M | 134.43K | 734.96K | -1.60M | 4.42M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 28.27M | 33.72M | 49.68M | 33.53M | 34.38M | 43.85M |
| Enterprise Value | 32.94M | 24.23M | 50.23M | 43.80M | 33.34M | 41.40M |
| Last Close Price | 9.52 | 10.54 | 16.18 | 8.45 | 7.87 | 9.48 |
| PE Ratio | 5.63 | 5.14 | 2.78 | |||
| PS Ratio | 5.14 | 5.21 | 5.80 | 4.57 | 5.96 | 10.76 |
| PB Ratio | 0.55 | 0.65 | 0.76 | 0.55 | 0.60 | 0.72 |
| P/TBV Ratio | 0.55 | 0.65 | 0.76 | 0.55 | 0.60 | 0.72 |
| P/FCF Ratio | 3.00 | 3.24 | 136.23 | |||
| P/OCF Ratio | 3.00 | 3.24 | 136.23 | |||
| EV/Sales Ratio | 5.99 | 3.74 | 5.87 | 5.97 | 5.78 | 10.16 |
| EV/EBIT Ratio | 10.62 | 4.49 | 10.44 | 10.42 | 7.07 | |
| EV/FCF Ratio | 2.15 | 3.28 | 132.12 | |||
| Debt / Equity Ratio | 0.10 | 0.01 | 0.27 | 0.04 | ||
| Debt / FCF Ratio | 0.04 | 10.10 | ||||
| Net Debt / Equity Ratio | 0.09 | -0.08 | -0.00 | 0.21 | 0.02 | -0.01 |
| Net Debt / EBITDA Ratio | 0.43 | |||||
| Net Debt / FCF Ratio | -1.17 | -0.37 | -0.01 | -1.55 | 4.68 | 0.21 |
| Asset Turnover | 0.10 | 0.10 | 0.11 | 0.10 | 0.09 | 0.06 |
| Quick Ratio | 1.14 | 7.04 | 0.20 | 1.06 | 0.60 | 0.24 |
| Current Ratio | 1.79 | 7.53 | 0.26 | 1.11 | 0.66 | 0.31 |
| Return on Equity (ROE) | -0.27% | -13.68% | 14.00% | 11.01% | -1.49% | 29.57% |
| Return on Assets (ROA) | 3.36% | 5.37% | 3.92% | 3.64% | 4.57% | -1.95% |
| Return on Invested Capital (ROIC) | 5.78% | 9.55% | 6.70% | 6.16% | 7.94% | -4.09% |
| Return on Capital Employed (ROCE) | 5.40% | 10.30% | 7.20% | 5.40% | 7.80% | -3.20% |
| Earnings Yield | -0.52% | -23.84% | 17.77% | 19.47% | -2.56% | 36.02% |
| FCF Yield | -14.09% | 33.37% | 30.86% | -24.88% | 0.73% | -8.99% |
| Dividend Yield | 12.19% | 10.22% | 8.67% | 7.31% | 4.88% | 2.35% |
| Payout Ratio | 24.27% | 37.57% | 28.93% | |||
| Buyback Yield / Dilution | -7.98% | -14.11% | 0.03% | -13.81% | ||
| Total Shareholder Return | 4.20% | -3.90% | 8.67% | 7.31% | 4.91% | -11.46% |