Pinetree Capital (PNP) Q3 2026 earnings summary

Executive summary

• Equity was $94,511 thousand at Sep. 30, 2026; book value per share (BVPS) rose to $10.07 from $9.33 at Dec. 31, 2025, an increase of $0.74 or 8%.

• Nine-month net income was $6,925 thousand versus $10,975 thousand in 2025; Q3 net income was $11,948 thousand versus $1,983 thousand.

Financial highlights

• Q3 net investment gains were $11,182 thousand versus $1,854 thousand; 9M gains were $5,870 thousand versus $10,937 thousand.

• Q3 other income was $1,510 thousand versus $544 thousand, including $1,465 thousand in dividends and $45 thousand in interest income.

• Q3 expenses were $549 thousand versus $497 thousand; 9M expenses were $1,549 thousand versus $1,293 thousand.

Key financial ratios and metrics

• Basic and fully diluted EPS was $1.27 in Q3 2026 versus $0.21 in Q3 2025; 9M EPS was $0.74 versus $1.17.

• Trailing 12-month expenses were $1,895 thousand, or 2.0% of Sep. 30, 2026 book value, versus $1,716 thousand and 1.9% a year earlier.

• Shares outstanding remained 9,387,000; total assets were $96,384 thousand and liabilities were $1,873 thousand at Sep. 30, 2026.