Great Elm Capital Corp. 8.50% NOTES DUE 2029 (GECCI)

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach this not as a common-stock bargain hunt but as a credit question. GECCI is an 8.50% note due 2029 issued by a financial-services company, and the data I have are sparse: revenue is not reported in the filed figures, and the FairStock valuation and return metrics are not available. The earnings record is volatile. FY2023, the year ended 2023-12-31, showed net income of $25.3M and diluted EPS of $3.33; FY2024, the year ended 2024-12-31, earned $3.6M, or $0.36. Then FY2025, the year ended 2025-12-31, lost $31.8M, or $2.57 per diluted share. The quarterly path is uneven: fiscal Q3 2025, the quarter ended 2025-09-30, lost $22.0M ($1.79); fiscal Q2 2025, the quarter ended 2025-06-30, earned $11.7M ($1.02); fiscal Q1 2026, the quarter ended 2026-03-31, lost $745,000 ($0.05); and fiscal Q2 2026, the quarter ended 2026-06-30, earned $6.4M ($0.46). FairStock labels this a TURNAROUND because the latest year had a loss after earlier profits. I see no durable moat in the supplied data and insufficient balance-sheet detail to judge credit strength. At $25.08 on 2026-10-16, near the low of a $24.95-$27.35 52-week range, the note may price in caution rather than value. Without revenue, coverage, or asset-quality data, I cannot call it cheap; I would demand a margin of safety and monitor the issuer's turnaround.

In plain English: This is an 8.50% note due in 2029 issued by Great Elm Capital Corp., a financial-services company. The issuer’s recent results look weak overall: it lost money in fiscal 2025, though it made a profit in the quarter ended June 30, 2026. At $25.08, the price is near the low end of its 52-week range, but the provided numbers are not enough to say whether it is cheap, fair, or expensive.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-16 close · note generated 2026-10-20 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer