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Side-by-side financial comparison of Great Elm Capital Corp. (GECC) and Investcorp Credit Management BDC, Inc. (ICMB). Click either name above to swap in a different company.
Great Elm Capital Corp. is the larger business by last-quarter revenue ($12.5M vs $3.5M, roughly 3.6× Investcorp Credit Management BDC, Inc.). Great Elm Capital Corp. runs the higher net margin — 3.6% vs -271.1%, a 274.7% gap on every dollar of revenue. Over the past eight quarters, Great Elm Capital Corp.'s revenue compounded faster (18.0% CAGR vs -18.2%).
Great Elm Capital Corp. is a U.S.-based business development company offering debt financing and equity investments to domestic middle-market enterprises. Its core coverage segments include technology, healthcare, consumer goods, and industrial services, focusing on generating risk-adjusted returns for shareholders.
Investcorp Credit Management BDC, Inc. is a publicly traded business development company that primarily provides customized credit solutions, including senior secured loans and debt financing, to middle-market enterprises across the United States. It targets underserved segments of the private credit market to deliver consistent risk-adjusted returns to its investors.
GECC vs ICMB — Head-to-Head
Income Statement — Q1 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $12.5M | $3.5M |
| Net Profit | $453.0K | $-9.4M |
| Gross Margin | — | — |
| Operating Margin | — | — |
| Net Margin | 3.6% | -271.1% |
| Revenue YoY | 40.3% | — |
| Net Profit YoY | 198.9% | — |
| EPS (diluted) | $0.04 | $-0.64 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $3.5M | ||
| Q3 25 | — | $3.9M | ||
| Q2 25 | — | $3.8M | ||
| Q1 25 | $12.5M | $3.5M | ||
| Q4 24 | $9.1M | — | ||
| Q3 24 | $11.7M | $4.7M | ||
| Q2 24 | $9.5M | $4.1M | ||
| Q1 24 | $8.9M | $5.6M |
| Q4 25 | — | $-9.4M | ||
| Q3 25 | — | $-1.3M | ||
| Q2 25 | — | $-434.3K | ||
| Q1 25 | $453.0K | $2.2M | ||
| Q4 24 | $1.9M | — | ||
| Q3 24 | $3.5M | $6.6M | ||
| Q2 24 | $-1.3M | $-2.0M | ||
| Q1 24 | $-458.0K | $2.4M |
| Q4 25 | — | -271.1% | ||
| Q3 25 | — | -32.4% | ||
| Q2 25 | — | -11.5% | ||
| Q1 25 | 3.6% | 63.0% | ||
| Q4 24 | 20.4% | — | ||
| Q3 24 | 29.6% | 141.3% | ||
| Q2 24 | -13.9% | -47.9% | ||
| Q1 24 | -5.1% | 43.1% |
| Q4 25 | — | $-0.64 | ||
| Q3 25 | — | $-0.09 | ||
| Q2 25 | — | $-0.03 | ||
| Q1 25 | $0.04 | $0.15 | ||
| Q4 24 | $0.22 | — | ||
| Q3 24 | $0.33 | $0.46 | ||
| Q2 24 | $-0.14 | $-0.13 | ||
| Q1 24 | $-0.05 | $0.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.3M | $4.6M |
| Total DebtLower is stronger | — | $123.9M |
| Stockholders' EquityBook value | $132.3M | $61.3M |
| Total Assets | $350.8M | $188.8M |
| Debt / EquityLower = less leverage | — | 2.02× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $4.6M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $1.3M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $305.0K | — | ||
| Q2 24 | $2.6M | $158.8K | ||
| Q1 24 | $334.0K | — |
| Q4 25 | — | $123.9M | ||
| Q3 25 | — | $128.5M | ||
| Q2 25 | — | $135.5M | ||
| Q1 25 | — | $121.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $112.5M | ||
| Q2 24 | — | $108.0M | ||
| Q1 24 | — | $122.5M |
| Q4 25 | — | $61.3M | ||
| Q3 25 | — | $72.7M | ||
| Q2 25 | — | $76.0M | ||
| Q1 25 | $132.3M | $78.1M | ||
| Q4 24 | $136.1M | — | ||
| Q3 24 | $125.8M | $79.9M | ||
| Q2 24 | $126.0M | $75.0M | ||
| Q1 24 | $118.8M | $79.1M |
| Q4 25 | — | $188.8M | ||
| Q3 25 | — | $210.6M | ||
| Q2 25 | — | $224.1M | ||
| Q1 25 | $350.8M | $207.6M | ||
| Q4 24 | $342.0M | — | ||
| Q3 24 | $427.0M | $203.0M | ||
| Q2 24 | $326.5M | $192.2M | ||
| Q1 24 | $279.1M | $210.0M |
| Q4 25 | — | 2.02× | ||
| Q3 25 | — | 1.77× | ||
| Q2 25 | — | 1.78× | ||
| Q1 25 | — | 1.55× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | — | 1.44× | ||
| Q1 24 | — | 1.55× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-5.9M | $12.0M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | -12.96× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $12.0M | ||
| Q3 25 | — | $1.3M | ||
| Q2 25 | — | $-6.7M | ||
| Q1 25 | $-5.9M | $5.1M | ||
| Q4 24 | $31.4M | — | ||
| Q3 24 | $-54.4M | $481.7K | ||
| Q2 24 | $-34.3M | $11.0M | ||
| Q1 24 | $-25.4M | $13.9M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -12.96× | 2.31× | ||
| Q4 24 | 16.87× | — | ||
| Q3 24 | -15.66× | 0.07× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 5.76× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
