SLR Investment Corp.
- Open
- 12.34
- Day high
- 12.61
- Day low
- 12.34
- Prev close
- 12.37
- Volume
- 189K
- Mkt cap
- $675M
- P/E (TTM)
- 7.5
- EPS (TTM)
- $1.66
- P/B
- 0.7
- P/S
- 3.7
- Yield
- 5.82%
- Per share
- $0.72
- ▲Insiders net buying $131K over the last 3 months (1 open-market buy, 0 sales)
- 🏛Institutions accumulating (13F)
SLR Investment Corp. (SLRC) is a Financial Services company listed on NASDAQ. The stock is down 23% over the past year. Over the trailing 3 months, insiders filed 1 open-market buy and 0 sales (SEC Form 4).
SLR Investment Corp. (SLRC) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
SLRC earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 6, 2026 | $0.40 | $0.33 | -17.5% | $49M | -8.7% |
| Feb 25, 2026 | $0.40 | $0.40 | +0.0% | $92M | +70.0% |
| Nov 4, 2025 | $0.41 | $0.40 | -2.4% | $45M | -17.6% |
| Feb 25, 2025 | $0.43 | $0.44 | +2.3% | $41M | -28.7% |
| Feb 27, 2024 | $0.43 | $0.44 | +2.3% | $62M | +3.1% |
| May 10, 2023 | $0.43 | $0.41 | -4.7% | $10M | -82.2% |
| Feb 28, 2023 | $0.41 | $0.41 | +0.0% | $23M | -57.5% |
| Nov 2, 2022 | $0.39 | $0.37 | -5.1% | $15M | -66.9% |
| Aug 2, 2022 | $0.34 | $0.37 | +8.8% | $-15M | -135.4% |
| May 3, 2022 | $0.37 | $0.35 | -5.4% | $5M | -85.3% |
| Mar 1, 2022 | $0.38 | $0.35 | -7.9% | $9M | -75.2% |
| Nov 3, 2021 | $0.37 | $0.36 | -2.7% | $16M | -56.1% |
SLRC insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 14, 2026 | GROSS MICHAEL Sdirector, officer: See Remarks | Buy | 10,000 | $13.09 |
| Mar 17, 2026 | GROSS MICHAEL Sdirector, officer: See Remarks | Buy | 10,452 | $13.90 |
| Mar 17, 2026 | GROSS MICHAEL Sdirector, officer: See Remarks | Buy | 25,000 | $13.91 |
| Mar 17, 2026 | SPOHLER BRUCE Jdirector, officer: See Remarks | Option | 354,511 | — |
| Mar 17, 2026 | Kajee Shirazofficer: See Remarks | Grant | 13,900 | — |
| Mar 17, 2026 | Kajee Shirazofficer: See Remarks | Option | 5,782 | — |
| Mar 17, 2026 | SPOHLER BRUCE Jdirector, officer: See Remarks | Grant | 466,378 | — |
| Mar 17, 2026 | SPOHLER BRUCE Jdirector, officer: See Remarks | Grant | 354,511 | — |
| Mar 17, 2026 | GROSS MICHAEL Sdirector, officer: See Remarks | Grant | 466,378 | — |
| Mar 17, 2026 | GROSS MICHAEL Sdirector, officer: See Remarks | Option | 354,511 | — |
| Mar 17, 2026 | GROSS MICHAEL Sdirector, officer: See Remarks | Grant | 354,511 | — |
| Mar 5, 2026 | GROSS MICHAEL Sdirector, officer: See Remarks | Buy | 15,019 | $14.83 |
| Mar 5, 2026 | SPOHLER BRUCE Jdirector, officer: See Remarks | Buy | 89,800 | $14.73 |
| Mar 5, 2026 | SPOHLER BRUCE Jdirector, officer: See Remarks | Buy | 15,019 | $14.83 |
| Mar 5, 2026 | GROSS MICHAEL Sdirector, officer: See Remarks | Buy | 89,800 | $14.73 |
Source: SLRC SEC Form 4 filings, latest May 14, 2026. For informational purposes only — not investment advice.
See the full SLRC insider & 13F page →SLR Investment Corp. company profile
Overview
SLR Investment Corp. (NASDAQ:SLRC) is a business development company that was founded and went public in February 2010. The company operates as a specialty finance lender, providing debt and equity capital to middle-market companies across the United States. Over its 15-year history, SLRC has deployed over $7.5 billion in investments while maintaining a conservative investment approach with historically low loss rates of less than 11 basis points. The company has evolved from a traditional sponsor finance lender to a diversified specialty finance platform, with approximately 80% of its current $3.1 billion portfolio concentrated in specialty finance assets including asset-based lending, equipment finance, and life sciences lending.
Business
SLR Investment Corp. operates in the business development company (BDC) sector, which is a specialized segment of the asset management industry. BDCs are regulated investment companies that provide capital to small and mid-sized businesses that may have difficulty accessing traditional bank financing or public capital markets. The company's core business involves providing various forms of financing to middle-market companies, primarily through four distinct business segments: 1. Asset-Based Lending (ABL) represents 35-37% of the portfolio ($1.0-1.1 billion). This involves lending against specific collateral such as accounts receivable, inventory, or equipment. ABL provides working capital to businesses and typically offers higher yields (14-15% weighted average) due to the secured nature and active monitoring required. 2. Equipment Finance comprises 33-37% of the portfolio ($1.0-1.1 billion). This segment involves financing or leasing equipment to businesses across various industries. The loans are secured by the underlying equipment, providing downside protection, with yields averaging 8-11%. 3. Sponsor Finance/Cash Flow Lending accounts for 19-24% of the portfolio ($590-760 million). This traditional middle-market lending involves providing capital to private equity-backed companies based on their cash flow generation capability, typically yielding 10-12%. 4. Life Sciences represents 6-11% of the portfolio ($187-350 million). This specialized segment provides financing to pharmaceutical, biotech, and medical device companies, often secured by intellectual property, regulatory milestones, or revenue streams, with yields around 12-13%. The company focuses on middle-market companies with revenues between $50 million and $1 billion and EBITDA between $15 million and $100 million. SLRC's investments typically range from $5 million to $100 million per transaction, with 98% of the portfolio consisting of first lien senior secured loans, providing priority in the capital structure and enhanced downside protection.
Revenue model
SLR Investment Corp. generates revenue primarily through interest income from its loan portfolio and dividend income from equity investments. As a BDC, the company is required to distribute at least 90% of its taxable income to shareholders, making it similar to a REIT structure. The company's revenue streams include base interest payments, success fees, prepayment penalties, and equity appreciation from minority equity stakes. The company's customers are middle-market businesses across diverse industries including aerospace, healthcare, manufacturing, technology, and consumer services. These companies typically seek financing for leveraged buyouts, acquisitions, recapitalizations, growth capital, or working capital needs. SLRC serves as an alternative to traditional bank financing, particularly for companies that may be too small for public debt markets or require more flexible terms than banks can provide. Several factors influence SLRC's profitability margins. Interest rate environments significantly impact returns, as rising rates generally benefit the company's floating-rate loan portfolio, while declining rates can compress yields. The company's specialty finance focus provides some insulation from rate volatility compared to pure cash flow lending. Credit quality and loss rates directly affect net returns, with SLRC's conservative underwriting historically resulting in minimal losses. Competition from banks and other lenders can compress spreads and reduce available deal flow, though regional banking sector disruption has created opportunities. Economic conditions affect both deal origination volumes and portfolio company performance, with recession risks potentially increasing defaults while also creating distressed investment opportunities. The company's cost of capital through its credit facilities and debt issuances impacts net interest margins, making efficient liability management crucial for profitability.
Competitive moat
SLR Investment Corp. possesses a moderate competitive moat built primarily around specialized expertise and established market relationships, though the moat is not exceptionally deep given the competitive nature of middle-market lending. The company's strongest competitive advantages lie in its specialized knowledge across multiple lending verticals, particularly in asset-based lending, equipment finance, and life sciences. These sectors require specific underwriting expertise, industry relationships, and operational capabilities that create barriers to entry. The life sciences team's 25-year track record with zero defaults demonstrates deep sector expertise that is difficult to replicate quickly. Similarly, asset-based lending requires sophisticated monitoring systems, borrowing base management, and industry-specific knowledge. SLRC's diversified platform approach provides some competitive advantage by allowing the company to shift capital allocation across different lending strategies based on market conditions and relative attractiveness. This flexibility has enabled the company to pivot away from competitive sponsor finance markets toward higher-yielding specialty finance opportunities. However, the moat faces several challenges. Capital intensity means that larger competitors with cheaper funding costs can potentially offer more competitive terms. Regulatory changes affecting BDCs or middle-market lending could impact the business model. Economic cycles can significantly affect portfolio performance and deal flow. The company also faces competition from banks re-entering markets, direct lending funds, and alternative credit providers. The most significant competitive threat comes from larger direct lending platforms with more scale and potentially lower cost of capital, as well as banks that may return to middle-market lending as regulatory and capital constraints ease. Private credit funds with permanent capital structures may also compete aggressively for deals. While SLRC's expertise provides some protection, the lending business ultimately depends on maintaining competitive returns while managing credit risk effectively.
Risks & safety
SLRC demonstrates a moderate margin of safety with generally solid financial metrics but some leverage-related considerations. • Liquidity position: Strong with $414-467 million in cash and short-term investments, providing substantial deployment capacity and operational flexibility • Debt levels: Debt-to-equity ratio of 1.04-1.16x, within reasonable range for BDCs but indicating meaningful leverage • Credit quality: Excellent with only 0.6% of portfolio on non-accrual, demonstrating strong underwriting discipline • Coverage ratios: Net investment income covers dividend distributions at approximately 110%, providing modest cushion • Valuation metrics: Price-to-book ratio of 0.83-0.93x suggests trading below net asset value, Price-to-earnings of 9.2-11.5x appears reasonable for the sector • Current ratio: 1.10-1.13x indicates adequate short-term liquidity management • Interest rate sensitivity: Portfolio benefits from higher rate environment but faces compression risk if rates decline significantly • Other considerations: Regulatory compliance as BDC provides some structural protections, diversified portfolio across 800+ borrowers reduces concentration risk, but economic downturn could pressure portfolio performance and limit new originations
Recent development
Over the past few years, SLRC has executed a significant strategic transformation from a traditional sponsor finance lender to a diversified specialty finance platform. The most notable shift has been the dramatic reduction in sponsor finance exposure from historical levels above 40% to just 19-24% of the portfolio, while simultaneously building specialty finance capabilities to represent approximately 80% of total investments. The company completed a transformative merger with SUNS Investment Corp. in April 2022, which expanded the portfolio to nearly $3 billion and enabled management fee reduction from 1.75% to 1.5%. This transaction provided additional scale and diversification across lending verticals. SLRC has made several strategic acquisitions to build platform capabilities, most notably acquiring Webster Bank's $124 million factoring portfolio and associated servicing platform in 2024. This acquisition not only added assets but also enhanced the company's asset-based lending origination capabilities and market presence. The company launched the SLR Senior Lending Program (SSLP), a joint venture structure designed to finance lower-yielding cash flow loans more efficiently. This program reached $200 million in commitments and allows SLRC to compete for larger sponsor finance deals while maintaining appropriate returns on equity. Recent market positioning has focused on capitalizing on regional banking disruption, with management noting increased opportunities as regional banks retreat from specialty lending markets. The company has been selective in evaluating portfolio and team acquisitions, prioritizing strong credit underwriting capabilities over pure scale. SLRC has also emphasized defensive positioning for potential economic uncertainty, maintaining high cash balances (over $400 million), focusing on first lien senior secured lending, and avoiding direct exposure to tariff-sensitive industries. The portfolio composition has been optimized for downside protection while maintaining attractive risk-adjusted returns across economic cycles.
SLRC company profile · for informational purposes only — not investment advice.
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