Great Elm Capital (GECC) Balance Sheet: Assets & Liabilities

Great Elm Capital (GECC) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Great Elm Capital reported total assets of $340.77M and total liabilities of $227.83M. Shareholders' equity was $112.95M, down 17.0% from $136.11M a year earlier. Total debt stood at $189.32M against $1.83M in cash and short-term investments, a net debt position of $187.49M. That puts debt-to-equity at 1.68, compared with 1.39 a year earlier.

Great Elm Capital Balance Sheet Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Great Elm Capital Corp. (GECC) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	1.83	8.45	0.95	0.59	9.13	52.58	4.61	4.17	2.92
Short-Term Investments	0.00	8.45	0.00	0.00	0.00	0.00	0.00	78.09	0.00
Cash & Short-Term Investments	1.83	8.45	0.95	0.59	9.13	52.58	4.61	82.25	2.92
Accounts Receivable	0.00	8.77	3.98	4.93	4.27	3.26	3.00	14.71	5.94
Inventory	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-281.56	-239.91
Other Current Assets	0.00	-8.29	0.00	3.29	0.38	0.24	0.09	0.41	0.30
Total Current Assets	9.45	8.93	4.94	8.80	13.79	56.68	7.69	96.96	8.85
Non-Current Assets
Property, Plant & Equipment (Net)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Investments	0.00	332.71	0.00	0.00	412.14	226.65	0.00	262.27	230.76
Other Non-Current Assets	338.94	0.39	241.89	301.31	412.53	227.25	283.35	-281.56	-239.91
Total Non-Current Assets	338.94	333.10	241.89	301.31	412.53	227.25	283.35	262.27	230.76
Total Assets	340.78	342.03	246.83	310.11	426.31	283.33	291.04	281.56	239.91
Current Liabilities
Accounts Payable	33.65	11.80	4.12	70.06	203.58	75.51	74.44	84.10	66.17
Accrued Liabilities	4.86	5.03	4.55	2.13	6.19	10.63	-	-	-
Deferred Revenue	0.00	0.00	0.00	0.00	0.00	0.00	0.00	11.60	38.34
Other Current Liabilities	3.74	0.00	0.00	0.00	0.00	1.91	0.00	-84.10	-66.17
Total Current Liabilities	37.46	11.80	4.12	70.06	209.76	88.05	74.44	87.90	69.53
Non-Current Liabilities
Long-Term Debt	189.32	189.70	140.21	153.15	142.00	115.66	119.81	76.30	31.20
Deferred Tax Liabilities	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-95.15	-76.43
Other Non-Current Liabilities	1.05	4.42	3.75	2.09	6.16	10.30	9.90	-76.30	-31.20
Total Non-Current Liabilities	190.37	194.11	143.97	155.24	148.15	125.96	129.71	76.30	31.20
Total Liabilities	227.83	205.92	148.09	225.30	351.76	203.71	204.15	171.45	107.63
Stockholders' Equity
Common Stock	0.14	0.12	0.08	0.08	0.05	0.04	0.10	0.11	0.11
Retained Earnings	-245.97	-196.11	-185.13	-199.37	-171.02	-151.12	-106.33	-88.24	-66.25
Accumulated Other Comprehensive Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-88.24	-33.33
Additional Paid-in Capital	358.78	332.11	283.80	284.11	245.53	230.70	193.11	198.25	231.75
Minority Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-5.95	-37.61
Shares Outstanding	14.00	11.54	7.60	7.60	4.48	-	-	-	-
Total Stockholders' Equity	112.95	136.11	98.74	84.81	74.56	79.62	86.89	110.12	132.29
Total Liabilities & Equity	340.78	342.03	246.83	310.11	426.31	283.33	291.04	281.56	239.91

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Great Elm Capital Balance Sheet

How much debt does Great Elm Capital have?

Great Elm Capital had total debt of $189.32M as of Dec 31, 2025, against $1.83M in cash and short-term investments. Its debt-to-equity ratio was 1.68. Total debt was $189.69M a year earlier.

What are Great Elm Capital's total assets?

Great Elm Capital reported total assets of $340.77M as of Dec 31, 2025, down 0.4% from $342.03M a year earlier. Total liabilities were $227.83M.

What is Great Elm Capital's shareholders' equity?

Great Elm Capital's shareholders' equity was $112.95M as of Dec 31, 2025, or about $8.07 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition