Forensic Analysis · General / Diversified · as of Aug 7, 2026
Slr Investment Corp. (SLRC)
A forensic read on Slr Investment Corp. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Clean
Earnings quality
4
Forensic signals
$704M
Market cap
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Slr Investment Corp. earns a C (Mixed — selective) forensic quality grade. 4 forensic signals were flagged in its latest SEC filings, led by cash conversion.
What the filings flag
0.61×
FY2023–FY2025
Cash conversion.Over FY2023–FY2025, operating cash flow was 0.61× cumulative net income. Reported profit is not turning into cash. The shortfall is profit tied up in working capital rather than collected — the accrual and receivables lines below show where.
+1.8%/yr
FY2022–FY2025
Share-count dilution.Diluted share count changed +6% over the last 3 years to FY2025 (+1.8%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~1.8% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~5%.
OCF ($72M)
FY2025
Shareholder returns.Returned $89M to shareholders (buybacks + dividends) in FY2025, while operating cash flow itself was ($72M) — zero or negative. Capex isn't disclosed for FY2025, but free cash flow can't have been positive when operating cash flow already isn't, so the entire return is coming from debt or cash reserves, not cash the business generated.
-8%
FY2023→FY2024
Dividend — cut.The payout was CUT ~8% in FY2024 (from FY2023). It still returns some cash, but it is NOT the dependable, rising dividend an unbroken streak implies.
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Slr Investment Corp.'s actual 10-K/10-Q/8-K filings?