Reading the tape
NASDAQ: RAND
Rand Capital Corporation
Financial Services · Asset Management
Market Cap
$32.07M
52w High
$20.00
52w Low
$10.05
P/E
-3.99
Volume
0.00
Outstanding Shares
2.97M
Price vs Fundamentals
Why The Stock Is Moving
Likely fundamental deteriorationModerate confidence
Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.
1Y Price: -44.33%Revenue (TTM): -127.84%FCF (TTM): -302.44%P/E: 0th pct
What changed
The stock fell 44.33% over the last year. Revenue declined 127.84% over the trailing twelve months. Operating margin moved from 78.39% to 147.54%. Free cash flow declined 302.44% over the trailing twelve months.
What the market seems to be pricing
The market is reacting to weaker business momentum more than just compressing the valuation multiple. Even if the shares already screen cheap on P/E, investors are still discounting lower future earnings power.
What would invalidate this read
Operating margin stands at 147.54%. Revenue declined 127.84% — this read reverses if that trend stabilizes. Free cash flow fell 302.44% — a return toward positive territory would undermine the deterioration thesis. If margins and cash flow stabilize while the stock stays depressed, the gap shifts from fundamental damage toward pure multiple compression.
Company profile
Rand Capital Corporation is a business development company and regulated investment company specializing in private equity investments.
CEODaniel Patrick Penberthy
SectorFinancial Services
IndustryAsset Management
Employees4
IPO dateMar 17, 1980
Valuation
Forward P/E—
EV/EBITDA-3.72
Enterprise value$29.25M
Price / Book0.61
Stock splits
May 22, 2020↓ Reverse
Every 9 shares became 1
Jun 19, 1995↑ Forward
Every 4 shares became 5
Jun 20, 1994↑ Forward
Every 4 shares became 5
Jun 16, 1993↑ Forward
Every 4 shares became 5
Jun 8, 1992↑ Forward
Every 4 shares became 5
Dec 16, 1986↑ Forward
Every 1 shares became 4
Profitability & growth
Standard profitability metrics can be misleading for financial/insurance companies. GAAP requires unrealized investment gains/losses in net income (affecting ROE), and margins are blended across diverse business segments.
Revenue growth-154.6%
Gross margin109.61%▲18.14%vs FY2024
Operating margin147.54%▼325.03%vs FY2024
ROE-15.41%▼214.02%vs FY2024
Analyst consensus
Rating—
Target price—
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
May 6, 2026
Q2 FY26 · EPS est — · Revenue est —
View
Dividends
$1.72/shareQuarterlyEx-div May 27, 2026 · in 22dAt RiskRAND pays a dividend with a 15.93% declared yield, covered -0.0× by free cash flow.
Declared Yield
15.93%
Annual Div / Share
$1.72
5yr CAGR
-17.3%
Dividend has been cut
Payout Ratio
—
At Risk
Dividend Growth Rate
3yr CAGR
+20.62%
5yr CAGR
-17.3%
Dividend Safety
0/10At Risk
Dividend History
Annualized dividend cycles per share
YearAnnual DivYoY
2026$1.72-66.1%
2025$5.07+257.0%
2024$1.42+44.9%
2023$0.98+81.5%
2022$0.54-87.9%
2021$4.45—
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$159/yr
$13/mo
In 5 yrs
$159/yr
$13/mo
In 10 yrs
$159/yr
$13/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$159/yr $13/mo | $159/yr $13/mo | $159/yr $13/mo |
Analysis
Dividend Strengths
No strong strength signal stands out from the latest period pair.
Risks to Watch
Dividend exceeds free cash flow
Free cash flow covers only -0.00× the dividend. The company is paying out more than it generates in cash, which is unsustainable without borrowing or asset sales.
Dividend has been reduced
The 5-year dividend CAGR of -17.3% is negative, indicating the payout has been cut over this period.