(BBDC) Barings BDC - NYSE
Sector: Financial Services | Industry: Asset Management | Exchange: NYSE (USA) | Market Cap: 878m USD | Total Return: 5.5% in 12m
Avg Turnover: 6.47M
EPS Trend: -47.3%
Qual. Beats: 0
Rev. Trend: -77.7%
Qual. Beats: 0
Warnings
Below Avwap Earnings
Tailwinds
No distinct edge detected
Barings BDC, Inc. (BBDC) is an externally managed business development company focused on providing financing solutions to private middle-market firms in the United States. Its portfolio primarily consists of senior secured loans, first lien debt, and unitranche structures, alongside selective equity co-investments. The firm targets companies backed by private equity sponsors with annual EBITDA between $10 million and $75 million, operating in sectors such as manufacturing, business services, and logistics.
As a Business Development Company (BDC), the firm is required by the Investment Company Act of 1940 to distribute at least 90% of its taxable income to shareholders annually. This structure allows middle-market companies to access capital markets while providing investors with exposure to private debt, a sector that often yields higher interest rates than traditional corporate bonds due to the illiquidity premium of private lending.
To better understand how these debt structures impact long-term returns, investors may find it useful to examine the detailed valuation metrics available on ValueRay.
- Net investment income sensitivity to fluctuating Federal Reserve benchmark interest rates
- Credit quality performance within middle-market private equity sponsor-backed loan portfolios
- Strategic deployment of capital into senior secured first lien debt instruments
- Fee structure adjustments and expense management by external advisor Barings LLC
- Asset valuation fluctuations driven by wider corporate credit market spread volatility
| Net Income: 89.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.09 > 0.02 and ΔFCF/TA 5.33 > 1.0 |
| NWC/Revenue: 23.18% < 20% (prev 33.46%; Δ -10.28% < -1%) |
| CFO/TA 0.09 > 3% & CFO 236.3m > Net Income 89.3m |
| Net Debt (1.33b) to EBITDA (84.8m): 15.74 < 3 |
| Current Ratio: 2.74 > 1.5 & < 3 |
| Outstanding Shares: last quarter (104.7m) vs 12m ago -0.63% < -2% |
| Gross Margin: 67.80% > 18% (prev 56.81%; Δ 10.99% > 0.5%) |
| Asset Turnover: 8.12% > 50% (prev 7.02%; Δ 1.10% > 0%) |
| Interest Coverage Ratio: 1.59 > 6 (EBIT TTM 133.5m / Interest Expense TTM 83.8m) |
| A: 0.02 (Total Current Assets 79.8m - Total Current Liabilities 29.1m) / Total Assets 2.60b |
| B: -0.27 (Retained Earnings -709.5m / Total Assets 2.60b) |
| C: 0.05 (EBIT TTM 133.5m / Avg Total Assets 2.70b) |
| D: 0.80 (Book Value of Equity 1.15b / Total Liabilities 1.45b) |
| Altman-Z'' = 0.41 = B |
As of June 16, 2026, the stock is trading at USD 8.40 with a total of 776,805 shares traded.
Over the past week, the price has changed by +0.96%,
over one month by +0.66%,
over three months by +7.01% and
over the past year by +5.45%.
Barings BDC has received a consensus analysts rating of 4.40. Therefore, it is recommended to buy BBDC.
- StrongBuy: 3
- Buy: 1
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 9.6 | 14.6% |
P/E Trailing = 9.8706
P/E Forward = 8.1169
P/S = 3.1906
P/B = 0.7589
P/EG = 3.1449
Revenue TTM = 218.8m USD
EBIT TTM = 133.5m USD
EBITDA TTM = 84.8m USD
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = 1.41b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.33b USD (calculated: Debt 1.41b - CCE 79.8m)
Enterprise Value = 2.21b USD (878.5m + Debt 1.41b - CCE 79.8m)
Interest Coverage Ratio = 1.59 (Ebit TTM 133.5m / Interest Expense TTM 83.8m)
EV/FCF = 9.37x (Enterprise Value 2.21b / FCF TTM 236.3m)
FCF Yield = 10.68% (FCF TTM 236.3m / Enterprise Value 2.21b)
FCF Margin = 108.0% (FCF TTM 236.3m / Revenue TTM 218.8m)
Net Margin = 40.84% (Net Income TTM 89.3m / Revenue TTM 218.8m)
Gross Margin = 67.80% ((Revenue TTM 218.8m - Cost of Revenue TTM 70.4m) / Revenue TTM)
Gross Margin QoQ = 75.07% (prev 57.35%)
Tobins Q-Ratio = 0.85 (Enterprise Value 2.21b / Total Assets 2.60b)
Interest Expense / Debt = 5.93% (Interest Expense 83.8m / Debt 1.41b)
Taxrate = 4.16% (3.88m / 93.2m)
NOPAT = 127.9m (EBIT 133.5m * (1 - 4.16%))
Current Ratio = 2.74 (Total Current Assets 79.8m / Total Current Liabilities 29.1m)
Debt / Equity = 1.23 (Debt 1.41b / totalStockholderEquity, last quarter 1.15b)
Debt / EBITDA = 15.74 (Net Debt 1.33b / EBITDA 84.8m)
Debt / FCF = 5.65 (Net Debt 1.33b / FCF TTM 236.3m)
Total Stockholder Equity = 1.16b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.31% (Net Income 89.3m / Total Assets 2.60b)
RoE = 7.67% (Net Income TTM 89.3m / Total Stockholder Equity 1.16b)
RoCE = 5.19% (EBIT 133.5m / Capital Employed (Total Assets 2.60b - Current Liab 29.1m))
RoIC = 5.00% (NOPAT 127.9m / Invested Capital 2.56b)
WACC = 6.55% (E(878.5m)/V(2.29b) * Re(7.96%) + D(1.41b)/V(2.29b) * Rd(5.93%) * (1-Tc(0.04)))
Discount Rate = 7.96% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -98.88 | Cagr: -0.70%
[DCF] Terminal Value 77.97% ; FCFF base≈183.7m ; Y1≈210.6m ; Y5≈310.0m
[DCF] Fair Price = 31.81 (EV 4.66b - Net Debt 1.33b = Equity 3.33b / Shares 104.7m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: -47.32 | EPS CAGR: -2.86% | SUE: 0.0 | # QB: 0
Revenue Correlation: -77.66 | Revenue CAGR: -11.49% | SUE: -0.31 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.24 | Chg30d=-3.20% | Revisions=+0% | Analysts=5
EPS next Quarter (2026-09-30): EPS=0.25 | Chg30d=-0.61% | Revisions=+14% | Analysts=5
EPS current Year (2026-12-31): EPS=0.98 | Chg30d=+0.41% | Revisions=+0% | GrowthEPS=-12.5% | GrowthRev=-13.6%
EPS next Year (2027-12-31): EPS=0.96 | Chg30d=+3.97% | Revisions=+20% | GrowthEPS=-1.9% | GrowthRev=+1.1%
[Analyst] Revisions Ratio: +20%