Prospect Capital Pre-Announces ~$76M Quarterly NII and 25% Debt-to-Assets
PSEC is trading near its 52-week low of $1.43 (9.0% above the low).
Summary
Prospect Capital pre-announced preliminary September 30, 2026 results: ~$76 million of quarterly net investment income, ~$2.9 billion of common equity, and debt at ~25% of total assets. Non-accruals are ~1.8% of the portfolio at cost but only ~0.2% at fair value.
Key Events · Earnings and Guidance · PSEC
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Preliminary Q1 NII of ~$76M
Management estimates net investment income of approximately $76 million for the three months ended September 30, 2026, unaudited and subject to final closing and valuation procedures.
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Leverage at ~25% of Assets
Total principal debt of approximately $1.5 billion against approximately $6.0 billion of total assets, or roughly 25% — far below the regulatory asset-coverage ceiling for a BDC.
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NAV Base of ~$2.9B Common Equity
Common equity net asset value estimated at approximately $2.9 billion, with total equity including perpetual preferred at approximately $4.4 billion.
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Non-Accruals 1.8% at Cost
Investments on non-accrual status are approximately 0.2% of the portfolio at fair value but approximately 1.8% at cost, indicating those positions are already deeply marked down.
Analysis · PSEC · Unknown
The key takeaway for a BDC under pressure is leverage: debt at only ~25% of total assets, well below the 2:1 (about 67%) regulatory asset-coverage limit, so there is no near-term balance-sheet squeeze forcing a discounted equity raise. Prospect Capital's early look at its September 30, 2026 quarter also shows roughly $76 million of net investment income and about $2.9 billion of common equity. The offset is that non-accruals are ~1.8% of the portfolio at cost versus just ~0.2% at fair value, meaning the market has already marked those positions down hard. These are unaudited management estimates, so the final 10-Q numbers can move.
How filings like this one have moved
In the 30 days to Oct 27, 2026, 29.9% of the 1374 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.12%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, PSEC was trading at $1.56 on NASDAQ in the Unknown sector, with a market capitalization of approximately $827.4M. The 52-week trading range was $1.43 to $3.13. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.