Palmer Square Capital BDC (PSBD) Cash Flow: Operating & Free Cash Flow

Palmer Square Capital BDC (PSBD) Cash Flow Statement

In fiscal 2025 (fiscal year ended Dec 31, 2025), Palmer Square Capital BDC generated $160.66M of operating cash flow. Free cash flow was $160.66M, up 50.5% from $106.73M a year earlier, or 144.5% of revenue. It returned $73.27M to shareholders through $55.28M in dividends and $18.00M in share buybacks.

Palmer Square Capital BDC Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Palmer Square Capital BDC Inc. (PSBD) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Operating Activities
Net Income	-3.17	47.67	107.84	-74.48	19.06	26.73
Change in Working Capital	-41.40	45.10	-0.02	-79.60	83.12	3.65
Change in Accounts Receivable	8.64	-10.26	27.14	-16.30	-7.96	-13.50
Change in Accounts Payable	-49.59	55.06	-27.66	-62.90	89.73	17.14
Change in Other Working Capital	-3.39	0.30	0.50	-0.40	0.62	0.00
Other Operating Activities	-3.39	13.96	-50.69	114.83	0.62	-14.19
Net Cash from Operating Activities	160.66	106.73	57.12	-39.25	-438.01	16.19
Investing Activities
Capital Expenditures	0.00	0.00	0.00	0.00	0.00	0.00
Purchases of Investments	0.00	-773.81	-273.73	-278.95	-926.35	-854.52
Sales/Maturities of Investments	0.00	468.76	247.08	314.36	406.80	268.26
Net Cash from Investing Activities	0.00	-305.05	-26.65	35.40	-519.55	-586.26
Financing Activities
Debt Repayment	-131.30	155.09	-13.74	18.21	256.63	340.44
Common Stock Issued	0.51	91.73	17.65	5.02	188.86	233.67
Common Stock Repurchased	-18.00	-1.26	0.00	0.00	0.00	0.00
Dividends Paid	-55.28	-46.59	-33.92	-18.83	-6.29	-3.37
Other Financing Activities	-1.25	0.00	0.00	0.00	-0.78	0.00
Net Cash from Financing Activities	-160.21	198.97	-30.00	4.40	438.42	570.75
Summary
Effect of Forex Changes on Cash	0.00	0.00	0.00	0.00	519.55	0.00
Net Change in Cash	0.45	0.65	0.47	0.56	0.41	0.68
Cash at Beginning of Period	2.77	2.12	1.65	1.09	0.68	0.00
Cash at End of Period	3.22	2.77	2.12	1.65	1.09	0.68
Free Cash Flow	160.66	106.73	57.12	-39.25	-438.01	16.19

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

Frequently Asked Questions About Palmer Square Capital BDC Cash Flow

What is Palmer Square Capital BDC's free cash flow?

Palmer Square Capital BDC generated free cash flow of $160.66M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 50.5% from $106.73M a year earlier. Free cash flow equaled 144.5% of revenue.

Does Palmer Square Capital BDC pay dividends or buy back shares?

Yes. In fiscal 2025 Palmer Square Capital BDC returned $55.28M in dividends and $18.00M in share buybacks to shareholders, according to its cash flow statement.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition