Fidus Investment Corporation reported adjusted earnings per share of $0.52 for the fourth quarter of fiscal 2025, surpassing the consensus estimate of $0.49 by $0.03, a 6.1% beat. Total revenue reached $42.2 million, outpacing the $39.8 million estimate by roughly $2.4 million, a 6.0% increase.
The earnings beat was driven by disciplined cost management and a favorable mix of investment income. Higher average debt investment balances and increased fee income from origination activities lifted net investment income, while interest earned on idle cash added further upside. These factors offset a modest rise in operating expenses, allowing the company to maintain a strong margin profile.
Compared with the same quarter in 2024, revenue grew from $37.5 million to $42.2 million, a 12.5% year‑over‑year increase. Adjusted net investment income per share fell slightly from $0.54 in Q4 2024 to $0.52 in Q4 2025, reflecting a small compression in the investment income mix but still supporting the earnings beat.
Fidus also announced a quarterly dividend of $0.52 per share, comprising a $0.43 base dividend and a $0.09 supplemental dividend. The dividend reflects the company’s confidence in its cash‑generating ability and its commitment to returning value to shareholders.
The company’s portfolio fair value rose to $1.3 billion as of December 31 2025, up from $1.2 billion in 2024, and the net asset value per share increased to $19.55 from $19.33. These gains underscore the firm’s strategy of providing customized debt and equity financing to lower‑middle‑market companies, which has driven portfolio growth and preserved credit quality.
Analysts project full‑year 2026 sales of approximately $162.3 million and earnings per share around $1.97, while first‑quarter 2026 estimates anticipate $39.8 million in sales and $0.50 EPS. Management emphasized that the company’s disciplined investment approach and focus on credit quality will support continued performance in the coming year.
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