BBDC Stock Analysis: Barings BDC | NYSE
Asset Management | NYSE, USA | Market Cap: 984m USD | 12M Return: 9.7% | US06759L1035 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 6.27M
EPS Trend: -66.6%
Qual. Beats: 0
Rev. Trend: -59.7%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 11.6 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Barings BDC, Inc. (BBDC) is an externally managed business development company (BDC) that invests primarily in private, U.S. middle-market companies, with a focus on senior secured loans, first lien debt, unitranche facilities, second lien debt, and subordinated debt, alongside select equity co-investments. As a BDC regulated under the Investment Company Act of 1940, the firm is required to distribute substantially all of its taxable income to shareholders, which generally allows it to qualify for pass-through tax treatment.
The firm targets companies with EBITDA between $10 million and $75 million (typically private equity sponsor-backed) and concentrates on manufacturing and distribution, business services and technology, transportation and logistics, and consumer products and services. It structures investments around mezzanine financings, leveraged and management buyouts, ESOPs, change-of-control transactions, acquisition financings, growth capital, and recapitalizations. Because BBDC is externally managed by an affiliate of Barings, it relies on its manager for deal sourcing, underwriting, and portfolio servicing rather than maintaining an in-house investment team.
- Net interest income driven by floating rate loan portfolio
- Credit quality deterioration raises non-accrual provisions
- Base rate movements directly impact investment income margins
| Net Income: 87.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.12 > 0.02 and ΔFCF/TA 14.87 > 1.0 |
| NWC/Revenue: -79.07% < 20% (prev 39.37%; Δ -118.4% < -1%) |
| CFO/TA 0.12 > 3% & CFO 304.7m > Net Income 87.1m |
| Net Debt (1.34b) to EBITDA (168.6m): 7.97 < 3 |
| Current Ratio: 0.36 > 1.5 & < 3 |
| Outstanding Shares: last quarter (104.7m) vs 12m ago -0.50% < -2% |
| Gross Margin: 76.17% > 18% (prev 56.75%; Δ 19.42% > 0.5%) |
| Asset Turnover: 9.55% > 50% (prev 7.12%; Δ 2.42% > 0%) |
| Interest Coverage Ratio: 1.84 > 6 (EBIT TTM 150.4m / Interest Expense TTM 81.6m) |
| A: -0.08 (Total Current Assets 114.5m - Total Current Liabilities 317.5m) / Total Assets 2.58b |
| B: -0.28 (Retained Earnings -718.4m / Total Assets 2.58b) |
| C: 0.06 (EBIT TTM 150.4m / Avg Total Assets 2.69b) |
| D: 0.80 (Book Value of Equity 1.15b / Total Liabilities 1.44b) |
| Altman-Z'' = -0.21 = B |
As of August 25, 2026, the stock is trading at USD 9.45 with a total of 530,173 shares traded. Over the past week, the price has changed by +0.64%, over one month by +14.82%, over three months by +13.25% and over the past year by +9.74%.
Current recommended Stop Loss: 9.10 (which is 3.7% or 1.8 ATR below the current price).
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 | 10 | 5.4% |
P/E Trailing = 11.4634
P/E Forward = 10.352
P/S = 3.6982
P/B = 0.8608
P/EG = 3.1449
Revenue TTM = 256.7m USD
EBIT TTM = 150.4m USD
EBITDA TTM = 168.6m USD
Long Term Debt = 1.12b USD (estimated: total debt 1.39b - short term 277.2m)
Short Term Debt = 277.2m USD (from shortTermDebt, last quarter)
Debt = 1.39b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.34b USD (calculated: Debt 1.39b - CCE 51.4m)
Enterprise Value = 2.33b USD (984.2m + Debt 1.39b - CCE 51.4m)
Interest Coverage Ratio = 1.84 (Ebit TTM 150.4m / Interest Expense TTM 81.6m)
EV/FCF = 7.64x (Enterprise Value 2.33b / FCF TTM 304.7m)
FCF Yield = 13.09% (FCF TTM 304.7m / Enterprise Value 2.33b)
FCF Margin = 118.7% (FCF TTM 304.7m / Revenue TTM 256.7m)
Net Margin = 33.94% (Net Income TTM 87.1m / Revenue TTM 256.7m)
Gross Margin = 76.17% ((Revenue TTM 256.7m - Cost of Revenue TTM 61.2m) / Revenue TTM)
Gross Margin QoQ = 84.61% (prev 75.07%)
Tobins Q-Ratio = 0.90 (Enterprise Value 2.33b / Total Assets 2.58b)
Interest Expense / Debt = 5.85% (Interest Expense 81.6m / Debt 1.39b)
Taxrate = 4.99% (4.58m / 91.7m)
NOPAT = 142.9m (EBIT 150.4m * (1 - 4.99%))
Current Ratio = 0.36 (Total Current Assets 114.5m / Total Current Liabilities 317.5m)
Debt / Equity = 1.22 (Debt 1.39b / totalStockholderEquity, last quarter 1.15b)
Debt / EBITDA = 7.97 (Net Debt 1.34b / EBITDA 168.6m)
Debt / FCF = 4.41 (Net Debt 1.34b / FCF TTM 304.7m)
Total Stockholder Equity = 1.16b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.24% (Net Income 87.1m / Total Assets 2.58b)
RoE = 7.53% (Net Income TTM 87.1m / Total Stockholder Equity 1.16b)
RoCE = 6.61% (EBIT 150.4m / Capital Employed (Equity 1.16b + L.T.Debt 1.12b))
RoIC = 5.64% (NOPAT 142.9m / Invested Capital 2.53b)
WACC = 6.46% (E(984.2m)/V(2.38b) * Re(7.73%) + D(1.39b)/V(2.38b) * Rd(5.85%) * (1-Tc(0.05)))
Discount Rate = 7.73% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -98.44 | Cagr: -0.56%
[DCF] Terminal Value 75.44% ; FCFF base≈304.7m ; Y1≈306.0m ; Y5≈324.1m
[DCF] Fair Price = 35.32 (EV 5.04b - Net Debt 1.34b = Equity 3.70b / Shares 104.7m; r=8.35% [WACC [floored]]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: -66.58 | EPS CAGR: -4.16% | SUE: 0.73 | # QB: 0
Revenue Correlation: -59.65 | Revenue CAGR: -8.88% | SUE: 0.73 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.26 | Chg30d=+6.08% | Revisions=+40% | Analysts=6
EPS current Year (2026-12-31): EPS=1.04 | Chg30d=+5.77% | Revisions=+50% | GrowthEPS=-7.1% | GrowthRev=-9.1%
EPS next Year (2027-12-31): EPS=1.01 | Chg30d=+4.48% | Revisions=+50% | GrowthEPS=-2.9% | GrowthRev=+2.1%
[Analyst] Revisions Ratio: +73% (up=8, down=0)