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SLR Investment

SLRC
59
Asset Management · Financial Services
Price
$12.63
+0.05 (+0.40%)
Market Cap
$689.0M
Exchange
NASDAQ
Winston Score
59
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Strong
Growth
Mixed
Cash Flow
Exceptional
Stability
Mixed
Valuation
Good
Dividends
Good

Share count rising — dilution

+29.1% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 42.3M (2021) → 54.6M (2025)

Winston Score History

The full picture

SLR Investment Corp. is a business development company (BDC) that lends money to mid-sized private businesses in the United States. Instead of making products, it acts like a specialized bank, providing loans and other forms of credit to companies that can't easily borrow from traditional banks. It focuses mainly on senior secured loans, meaning it gets paid back first if a borrower runs into trouble.

SLR makes money by collecting interest on the loans it makes to portfolio companies, and it passes most of that income to shareholders as dividends — a requirement for BDCs under U.S. tax law. It operates almost entirely in the U.S. and manages roughly $3 billion in assets. Its competitive edge comes from focusing on specific niches like asset-based lending and equipment financing, which can offer more protection than general corporate loans. The main risk is rising loan defaults if the economy weakens, which would directly reduce income and could pressure its dividend.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-9.3% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-65.9% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (7%)

Research and development spending

Insider Activity

21.9%ownership

Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$2.4B cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

SLR Investment's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
70.5%
Premium pricing power — 70.5% gross margin
Profit after running costs
Operating Margin
63.7%
Excellent — 63.7% operating margin
Return on the money invested
ROCE
4.5%
Weak — 4.5% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth
Sales YoY
+7.8%
Steady sales growth (+7.8% YoY)
Profit growth
EPS YoY
-16.7%
Earnings shrinking (-16.7% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash
Cash Conversion
204%
Turns 204% of profit into real cash
Spare cash per sale
FCF Margin
84.3%
Converts sales into free cash efficiently (84.3%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns
Debt / Equity
1.45
Elevated debt (1.45)
Covers its interest
Interest Cover
1.56x
Dangerous — barely covers interest (1.6x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit
P/E Ratio (TTM)
9.4x
Attractive valuation — P/E 9.4

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year
P/E vs Forward
-0.5
SLOWING
Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend
Dividend Yield
11.92%
Healthy income — 11.92% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record
Dividend Growth
-12.2%
Dividend cut (-12.2% YoY) — warning sign

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