SCM - STELLUS CAPITAL INVESTMENT CORPORATION

SCM

Valuation Ratios

Breakdown	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Price to Earnings	7.69	16.06	17.92	7.57
Price to Sales				5.95
Book Value Per Common Share	13.46	13.26	14.02	14.61
Price to Book	1.02	0.97	0.95	0.89
Price to Operating Cash Flow	-12.29	-16.38	-4.61	-3.33
Price to Free Cash Flow				-3.33
Enterprise Value to EBITDA

Breakdown	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30
Price to Earnings	16.74	25.81	77.78		9.25	15.43	24.22		48.57	34.32	58.71		22.09
Price to Sales
Book Value Per Common Share	13.05	13.21	13.25	13.46	13.55	13.36	13.41	13.26	13.19	13.67	13.87	14.02	14.18
Price to Book	1.00	1.06	1.06	1.02	1.01	1.03	0.98	0.97	1.03	1.03	1.02	0.95	0.84
Price to Operating Cash Flow	-10.99	-29.46	-10.47		110.58	-38.79	70.82		-6.82	-9.03	-8.70		-2.52
Price to Free Cash Flow
Enterprise Value to EBITDA

Earnings Data

Breakdown	2024-12-31	2023-12-31	2022-12-31
Earning YoY	123.75	8.11	-56.98
Revenue YoY
EBITDA YoY
Net Profit YoY	161.47	20.99	-56.83

Breakdown	2025-09-30	2025-06-30	2024-09-30	2024-06-30	2023-09-30	2023-06-30	2023-03-31
Earning YoY	44.44	200.00	66.29	64.81	-31.71	70.83	-55.56
Revenue YoY
EBITDA YoY
Net Profit YoY	44.20	203.17	71.27	64.98	-28.38	78.36	-54.95

Financial Strength

Breakdown	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Cash Per Common Share	0.78	1.19	2.46
Quick Ratio
Current Ratio
Debt to Equity	0.69	0.73	0.83	1.88
Long-Term Debt to Equity

Breakdown	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30
Cash Per Common Share	0.32	1.43	0.39	0.73	1.54	1.47	2.02	1.08	0.90	0.73	0.90	2.44	0.64
Quick Ratio
Current Ratio
Debt to Equity	0.76	0.76	0.74	0.69	0.68	0.71	0.74	0.73	0.74	0.75	0.83	0.83	0.83
Long-Term Debt to Equity

Profitability

Breakdown	2024-12-31	2023-12-31	2022-12-31	2021-12-31
ROA	3.07	1.26	1.06	4.09
ROE	5.21	2.18	1.94	11.78
Gross Margin
Operating Margin
EBITDA Margin
Net Profit Margin				78.70

Breakdown	2025-09-30	2025-06-30	2025-03-31	2024-09-30	2024-06-30	2024-03-31	2023-09-30	2023-06-30	2023-03-31	2022-09-30
ROA	1.44	0.99	0.33	2.55	1.50	0.92	0.43	0.61	0.35	0.78
ROE	2.53	1.73	0.58	4.30	2.56	1.60	0.75	1.07	0.63	1.42
Gross Margin
Operating Margin
EBITDA Margin
Net Profit Margin

Dividends

Breakdown	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Dividend Yield				0.00
Dividend Payout Ratio				62.68

Breakdown	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30
Dividend Yield
Dividend Payout Ratio

Financial Statements

Breakdown	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Assets	1,491,005.52	1,393,239.00	1,368,841.91	821,262.02
Cash and Short-Term Investments	20,058.59	26,125.74	48,043.33	0
Cash and Cash Equivalents	20,058.59	26,125.74	48,043.33	44,174.86
Short-Term Investments	0	0	0	0
Net Receivables	335.69	371.88	0	3,535.46
Inventory	0	0	0	0
Other Current Assets	0	0	0	0
Property, Plant, Equipment Net	0	0	0	0
Goodwill	0	0	0	0
Intangible Assets	0	0	0	0
Long-Term Investments	0	0	0	772,873.33
Non-Current Deferred Assets	0	0	0	0
Other Non-Current Assets	0	0	0	0
Liabilities	610,978.31	588,146.54	622,406.17	536,150.79
Payables and Expenses	0	0	0	0
Account Payables	0	0	0	4,864.72
Current Accrued Liabilities	0	0	0	0
Short-Term Debt	0	0	0	0
Other Current Liabilities	0	0	0	0
Long-Term Debt	325,000.00	325,000.00	313,600.00	518,169.99
Other Non-Current Liabilities	0	0	0	0
Equity	880,027.21	805,092.46	746,435.74	285,111.23
Shareholders Equity	369,921.94	319,939.79	275,776.61	285,111.23
Capital Stock	27.48	24.12	19.67	19.52
Share Premium	379,549.27	335,918.98	275,114.72	274,559.12
Retained Earnings	-9,654.81	-16,003.32	642.23	10,532.59
Treasury Shares	0	0	0	0
Accumulated Other Comprehensive Income	0	0	0	0
Minority Interest	0	0	0	0
Debt	99,444.35	98,996.41	98,549.69	518,169.99
Net Debt	79,385.76	72,870.67	50,506.36	473,995.14
Common Shares Outstanding	27,481.12	24,125.64	19,666.77	19,517.60

Breakdown	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Revenues	0	0	0	42,659.74
Interest Income	31,506.07	32,011.32	24,469.28	56,719.84
Interest Expense	31,506.07	32,011.32	24,469.28	18,721.06
Net Interest	31,506.07	32,011.32	24,469.28	0
Non-Interest Expense	0	0	0	4,998.89
Operating Expenses	64,633.43	63,944.43	46,525.89	5,538.14
Selling, General and Administrative Expenses	6,371.87	6,308.72	5,908.83	4,998.89
Other Operating Expenses	58,261.56	57,635.71	40,617.06	539.25
EBT	0	0	0	37,121.60
Income Tax	1,808.84	1,333.45	1,161.67	3,548.73
Net Income Including Non-Controlling Interests	0	0	0	33,572.87
Net Income	45,844.63	17,533.17	14,491.78	33,572.87
Deprecation and Amortization	1,185.21	1,283.78	0.00	0
EPS	0.00	0.00	0.00	0.00
Diluted EPS	0.00	0.00	0.00	0.00
Average Shares Outstanding Basic	25,596.59	22,004.65	19,552.93	19,489.75
Average Shares Outstanding Diluted	25,596.59	22,004.65	19,552.93	19,489.75

Breakdown	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Operating Cash Flow	-28,648.48	-17,265.09	-56,286.56	-76,102.74
Operating Net Income	45,844.63	17,533.17	14,491.78	33,572.87
Deprecation and Amortization	1,185.21	1,283.78	0	0
Deferred Income Tax	-188.89	126.96	213.21	0
Share Based Compensation	0	0	0	0
Change in Working Capital	4,035.40	5,584.62	-74.47	8,013.80
Other Operating Activities	-79,524.82	-41,793.61	-70,917.08	-117,689.41
Investing Cash Flow	0	0	0	0
Capital Expenditure	0.00	0.00	0.00	0
Net Purchase/Sale of PPE	0	0	0	0
Net Purchase/Sale of Investments Net	0	0	0	0
Net Purchase/Sale of Business	0	0	0	0
Other Investing Activities	0	0	0	0
Financing Cash Flow	22,581.33	-4,652.50	60,155.03	101,799.99
Net Issuance/Repayment of Debt	360,335.60	267,935.60	340,096.60	127,965.00
Net Issuance/Repurchase of Equity	91,855.96	125,505.92	4,286.01	449.51
Dividends Paid	37,560.44	35,527.48	26,594.10	-21,044.93
Other Financing Activities	-467,170.66	-433,621.51	-310,821.68	-5,569.60
Net Change in Cash	-6,067.15	-21,917.59	3,868.47	25,697.25
Cash at Beginning of Period	26,125.74	48,043.33	0	18,477.60
Cash at End of Period	20,058.59	26,125.74	0	44,174.86
Free Cash Flow	0	0	0	-76,102.74

Breakdown	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30
Assets	1,512,413.44	1,532,464.26	1,506,234.71	1,491,005.52	1,455,734.24	1,447,061.09	1,433,706.86	1,393,239.00	1,401,164.13	1,384,315.20	1,370,946.56	1,368,841.91	1,352,965.77
Cash and Short-Term Investments	9,024.02	39,991.69	10,888.82	20,058.59	38,580.26	35,867.78	48,761.72	26,125.74	19,210.72	14,924.38	17,852.10	48,043.33	12,419.74
Cash and Cash Equivalents	9,024.02	39,991.69	10,888.82	20,058.59	38,580.26	35,867.78	48,761.72	26,125.74	19,210.72	14,924.38	17,852.10	48,043.33	12,419.74
Short-Term Investments	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Receivables	437.55	399.11	446.59	335.69	1,358.42	574.01	776.42	371.88	594.73	207.08	0	0	0
Inventory	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Current Assets	0	0	0	0	0	0	0	0	0	0	0	0	0
Property, Plant, Equipment Net	0	0	0	0	0	0	0	0	0	0	0	0	0
Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	0	0	0	0	0	0	0	0	0	0	0	0	0
Non-Current Deferred Assets	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	0	0	0	0	0	0	0	0	0	0	0	0	0
Liabilities	650,914.01	659,394.84	638,971.30	610,978.31	590,786.57	599,320.75	611,780.94	588,146.54	593,828.09	593,447.53	620,000.13	622,406.17	611,930.16
Payables and Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0
Account Payables	0	0	0	0	0	0	0	0	0	0	0	0	0
Current Accrued Liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0
Short-Term Debt	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0
Long-Term Debt	299,000.00	308,750.00	308,750.00	325,000.00	325,000.00	325,000.00	325,000.00	325,000.00	325,000.00	313,600.00	313,600.00	313,600.00	306,000.00
Other Non-Current Liabilities	0	0	0	0	0	0	0	0	0	0	0	0	0
Equity	861,499.43	873,069.42	867,263.40	880,027.21	864,947.67	847,740.34	821,925.91	805,092.46	807,336.04	790,867.67	750,946.43	746,435.74	741,035.61
Shareholders Equity	377,730.33	375,370.89	372,766.18	369,921.94	366,285.29	347,185.49	323,440.40	319,939.79	318,125.78	308,325.03	280,852.04	275,776.61	277,177.98
Capital Stock	28.95	28.42	28.14	27.48	27.04	25.98	24.12	24.12	24.12	22.56	20.25	19.67	19.55
Share Premium	399,410.63	392,309.34	388,486.70	379,549.27	375,430.45	361,167.00	335,918.98	335,918.98	337,289.27	315,823.48	283,404.71	275,114.72	274,864.30
Retained Earnings	-21,709.25	-16,966.87	-15,748.66	-9,654.81	-9,172.20	-14,007.49	-12,502.70	-16,003.32	-19,187.61	-7,521.01	-2,572.91	642.23	2,294.14
Treasury Shares	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Other Comprehensive Income	0	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Debt	172,522.71	172,310.20	99,554.51	99,444.35	99,331.76	99,219.16	99,107.79	98,996.41	98,883.81	98,771.22	98,659.84	98,549.69	98,437.10
Net Debt	163,498.69	132,318.51	88,665.68	79,385.76	60,751.50	63,351.38	50,346.07	72,870.67	79,673.09	83,846.83	80,807.74	50,506.36	86,017.35
Common Shares Outstanding	28,947.25	28,416.15	28,137.20	27,481.12	27,039.36	25,981.00	24,125.64	24,125.64	24,125.64	22,557.90	20,248.38	19,666.77	19,545.94

Breakdown	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-09-30
Operating Expenses	51,081.51	33,469.99	16,405.69	-32,412.85	48,659.83	32,421.26	15,965.18	-29,766.52	47,523.73	31,179.50	15,007.73	32,867.64
Selling, General and Administrative Expenses	5,140.90	3,337.93	1,553.74	-3,250.02	4,774.51	3,232.92	1,614.47	-2,855.74	4,533.81	3,055.40	1,575.24	4,540.64
Other Operating Expenses	45,940.61	30,132.06	14,851.95	-29,162.83	43,885.33	29,188.35	14,350.71	-26,910.78	42,989.91	28,124.10	13,432.48	28,327.01
Interest Income	25,892.11	16,943.03	8,263.02	-15,986.05	23,840.47	15,884.07	7,767.57	-15,900.97	24,037.46	15,988.40	7,886.42	16,864.26
Interest Expense	25,892.11	16,943.03	8,263.02	-15,986.05	23,840.47	15,884.07	7,767.57	-15,900.97	24,037.46	15,988.40	7,886.42	16,864.26
Net Interest	25,892.11	16,943.03	8,263.02	-15,986.05	23,840.47	15,884.07	7,767.57	-15,900.97	24,037.46	15,988.40	7,886.42	16,864.26
EBT	0	0	0	0	0	0	0	0	0	0	0	0
Income Tax	1,444.18	928.50	499.55	-811.59	1,304.95	944.76	370.72	-869.92	1,082.06	746.55	374.76	1,066.77
Net Income	21,830.98	15,138.95	4,993.55	-26,150.13	37,153.55	21,692.75	13,148.46	-1,699.97	6,049.80	8,447.19	4,736.15	10,513.54
Deprecation and Amortization	337.81	255.30	38.75	-827.54	833.52	653.63	525.61	299.99	668.95	284.10	30.74	385.07
EPS	0.00	0.00	0.00	-0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Diluted EPS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Average Shares Outstanding Basic	28,168.53	28,009.97	27,602.61	28,764.30	25,066.63	24,429.80	24,125.64	26,438.73	21,289.88	20,509.99	19,779.99	19,535.71
Average Shares Outstanding Diluted	28,168.53	28,009.97	27,602.61	28,764.30	25,066.63	24,429.80	24,125.64	26,438.73	21,289.88	20,509.99	19,779.99	19,535.71

Breakdown	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-09-30
Operating Cash Flow	-33,483.14	-13,255.62	-36,924.03	-27,562.04	3,103.96	-8,647.35	4,456.95	89,173.11	-42,434.73	-31,960.44	-32,043.02	-92,616.25
Operating Net Income	21,830.98	15,138.95	4,993.55	-26,150.13	37,153.55	21,692.75	13,148.46	-1,699.97	6,049.80	8,447.19	4,736.15	10,513.54
Deprecation and Amortization	337.81	255.30	38.75	-827.54	833.52	653.63	525.61	299.99	668.95	284.10	30.74	385.07
Deferred Income Tax	0	0	0	-3.71	-188.89	-188.89	192.61	-240.34	144.43	144.11	78.76	151.28
Share Based Compensation	0	0	0	0	0	0	0	0	0	0	0	0
Change in Working Capital	6,207.48	6,588.56	529.90	-1,569.94	665.94	5,295.84	-356.44	6,305.51	269.31	2,119.94	-3,110.14	-4,487.09
Other Operating Activities	-61,859.42	-35,238.44	-42,486.21	989.28	-35,360.15	-36,100.68	-9,053.28	84,507.92	-49,567.21	-42,955.79	-33,778.53	-99,179.05
Investing Cash Flow	0	0	0	0	0	0	0	0	0	0	0	0
Capital Expenditure	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Purchase/Sale of PPE	0	0	0	0	0	0	0	0	0	0	0	0
Net Purchase/Sale of Investments Net	0	0	0	0	0	0	0	0	0	0	0	0
Net Purchase/Sale of Business	0	0	0	0	0	0	0	0	0	0	0	0
Other Investing Activities	0	0	0	0	0	0	0	0	0	0	0	0
Financing Cash Flow	22,448.57	33,188.72	27,754.25	-23,337.64	9,350.56	18,389.39	18,179.03	-18,947.92	13,602.12	-1,158.51	1,851.80	60,861.14
Net Issuance/Repayment of Debt	657,401.70	313,467.80	105,583.90	-162,517.80	248,151.70	199,367.80	75,333.90	-69,917.80	207,801.70	102,267.80	27,783.90	275,168.60
Net Issuance/Repurchase of Equity	20,588.96	13,153.37	9,256.98	25,707.87	40,370.90	25,777.19	0	-90,791.83	125,527.44	82,283.19	8,487.13	834.05
Dividends Paid	33,689.98	22,326.37	10,999.93	-11,823.19	26,718.08	16,233.65	6,431.90	-5,991.84	22,663.69	13,603.46	5,252.17	17,708.49
Other Financing Activities	-689,232.07	-315,758.81	-98,086.56	125,295.47	-305,890.12	-222,989.24	-63,586.77	147,753.56	-342,390.70	-199,312.95	-39,671.41	-232,850.01
Net Change in Cash	-11,034.57	19,933.10	-9,169.77	-50,899.69	12,454.52	9,742.04	22,635.98	70,225.20	-28,832.61	-33,118.95	-30,191.23	-31,755.11
Cash at Beginning of Period	20,058.59	20,058.59	20,058.59	70,958.28	26,125.74	26,125.74	26,125.74	-44,099.46	48,043.33	0	0	0
Cash at End of Period	9,024.02	39,991.69	10,888.82	20,058.59	38,580.26	35,867.78	48,761.72	26,125.74	19,210.72	0	0	0
Free Cash Flow	0	0	0	0	0	0	0	0	0	0	0	0