BlackRock TCP Capital Corp.

TCPCNASDAQFinancial Services● Active

$3.66

$-0.02(-0.54%)

Market Cap$307084248

P/E Ratio—

52W High$7.97

52W Low$3.43

Avg Volume1.0M

Open$3.68

Beta0.99

Free Cash Flow Financials Revenue

BlackRock TCP Capital Corp. (TCPC) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

TCPC · free cash flow · updated Jun 9, 2026

Core FCF metrics

TCPC · FCF · TTM · margin & CAGR

Free cash flow was $154.9M for FY2025 (fiscal year ending 2025-12-31), down 47.1% year-over-year Five-year CAGR stands at +4.8%.

FY2025 Free Cash Flow$154.9M▼ -47.1% YoY

Trailing 12M (TTM)$144.7Mtrailing 4 quarters sum

FCF Margin——

3-Year CAGR-8.8%FY2022 → FY2025

5-Year CAGR+4.8%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 9, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

TCPC · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$154.9M(0M)$154.9M▼ 47.1%—

FY2024$293.1M(0M)$293.1M▲ +227.6%—

FY2023$89.5M(0M)$89.5M▼ 56.1%42.8%

FY2022$203.9M(0M)$203.9M▲ +346.9%112.7%

FY2021−$82.6M(0M)−$82.6M▼ 167.5%-50.0%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

TCPC · P/FCF · FCF yield · FCF per share

BlackRock TCP Capital Corp. (TCPC) trades at a FCF yield of 47.12% and a price-to-free-cash-flow ratio of 2.2x. FCF per share stands at $1.70, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

47.12%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$1.70

TTM FCF ÷ Shares Outstanding

Price / FCF

x2.2

Share Price ÷ FCF per Share

EV / FCF (TTM)

x7.9

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

TCPC · cash flow statement · operating / investing / financing

For FY2025, BlackRock TCP Capital Corp. generated $154.9M in operating cash flow and spent 0M in capital expenditures, yielding $154.9M in free cash flow.

Operating Activities

+$154.9M

Cash from core business operations

2025-12-31

Investing Activities

+$0.0M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$185.4M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($154.9M) − |CapEx| (0M) = FCF ($154.9M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

TCPC vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

BlackRock TCP Capital Corp.YOU

TCPC

$154.9M-47.1%—

Berkshire Hathaway Inc.

BRK-B

$25.04B+115.6%6.7%

25%

Berkshire Hathaway Inc.

Mastercard Incorporated

$16.91B+18.2%51.6%

17%

Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

BlackRock TCP Capital Corp. (TCPC) reported free cash flow of $154.9M for FY2025 (fiscal year ending 2025-12-31), down 47.1% year-over-year.

Based on available data, BlackRock TCP Capital Corp. has maintained positive free cash flow for at least 8 fiscal year(s). FCF peaked at $293.1M in FY2024. The 5-year CAGR stands at +4.8%.

BlackRock TCP Capital Corp.'s FCF yield is 47.12% and price-to-FCF ratio is 2.2x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

TCPC free cash flow · 8 questions

BlackRock TCP Capital Corp. free cash flow was $154.9M for FY2025, down 47.1% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $144.7M.

TCPC free cash flowTCPC FCFTCPC FCF 2025TCPC free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · BlackRock TCP Capital Corp. · BlackRock TCP Capital Corp. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 9, 2026