KBDC Stock Analysis: Kayne Anderson BDC | NYSE
Asset Management | NYSE, USA | Market Cap: 908m USD | 12M Return: -2.4% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 4.13M
Qual. Beats: 0
Rev. Trend: 95.0%
Qual. Beats: -1
Warnings
Tailwinds
Seasonality 2.1 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.
Kayne Anderson BDC, Inc. (KBDC) is a Business Development Company (BDC) structured as an externally managed, closed-end, non-diversified investment company that operates under the regulatory framework of the Investment Company Act of 1940. The company focuses on providing financing to privately held middle-market companies, primarily through first lien senior secured, unitranche, and split-lien term loans, which it targets to comprise 80% to 90% of its portfolio. The remaining 10% to 20% of its portfolio is allocated to higher-yielding investments such as second lien loans, subordinated debt, high-yield bonds, CLO liabilities, and select equity securities.
BDCs are a regulated investment vehicle category created by Congress in 1980 to supply debt and equity capital to small and mid-sized private U.S. companies that often have limited access to traditional bank financing. As BDCs, these entities are generally required to invest at least 70% of their assets in qualifying private or thinly traded U.S. companies, and they typically distribute the majority of their taxable income to shareholders in order to maintain their pass-through tax status.
- Net interest income benefits from elevated SOFR and floating-rate loan exposure
- Middle-market credit quality holds, non-accruals remain near historic lows
- Portfolio growth driven by new originations and capital deployment pace
| Net Income: 88.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA 18.59 > 1.0 |
| NWC/Revenue: -10.58% < 20% (prev 3.57%; Δ -14.14% < -1%) |
| CFO/TA 0.03 > 3% & CFO 68.3m > Net Income 88.7m |
| Net Debt (1.11b) to EBITDA (331.7m): 3.34 < 3 |
| Current Ratio: 0.41 > 1.5 & < 3 |
| Outstanding Shares: last quarter (67.1m) vs 12m ago -5.74% < -2% |
| Gross Margin: 72.30% > 18% (prev 66.52%; Δ 5.78% > 0.5%) |
| Asset Turnover: 8.82% > 50% (prev 7.93%; Δ 0.89% > 0%) |
| Interest Coverage Ratio: 1.70 > 6 (EBIT TTM 129.7m / Interest Expense TTM 76.2m) |
| A: -0.01 (Total Current Assets 14.3m - Total Current Liabilities 35.2m) / Total Assets 2.25b |
| B: -0.00 (Retained Earnings -7.49m / Total Assets 2.25b) |
| C: 0.06 (EBIT TTM 129.7m / Avg Total Assets 2.24b) |
| D: 0.92 (Book Value of Equity 1.08b / Total Liabilities 1.17b) |
| Altman-Z'' = 1.28 = BB |
As of July 08, 2026, the stock is trading at USD 13.62 with a total of 239,252 shares traded. Over the past week, the price has changed by +0.44%, over one month by -3.43%, over three months by +0.30% and over the past year by -2.39%.
Current recommended Stop Loss: 13.10 (which is 3.8% or 1.6 ATR below the current price).
Kayne Anderson BDC has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy KBDC.
- StrongBuy: 2
- Buy: 1
- Hold: 2
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 15.2 | 11.6% |
P/E Trailing = 10.6875
P/E Forward = 8.244
P/S = 9.6194
P/B = 0.8411
Revenue TTM = 197.7m USD
EBIT TTM = 129.7m USD
EBITDA TTM = 331.7m USD
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = 1.12b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.11b USD (calculated: Debt 1.12b - CCE 14.3m)
Enterprise Value = 2.02b USD (907.7m + Debt 1.12b - CCE 14.3m)
Interest Coverage Ratio = 1.70 (Ebit TTM 129.7m / Interest Expense TTM 76.2m)
EV/FCF = 29.51x (Enterprise Value 2.02b / FCF TTM 68.3m)
FCF Yield = 3.39% (FCF TTM 68.3m / Enterprise Value 2.02b)
FCF Margin = 34.57% (FCF TTM 68.3m / Revenue TTM 197.7m)
Net Margin = 44.89% (Net Income TTM 88.7m / Revenue TTM 197.7m)
Gross Margin = 72.30% ((Revenue TTM 197.7m - Cost of Revenue TTM 54.8m) / Revenue TTM)
Gross Margin QoQ = 81.49% (prev 84.42%)
Tobins Q-Ratio = 0.90 (Enterprise Value 2.02b / Total Assets 2.25b)
Interest Expense / Debt = 6.79% (Interest Expense 76.2m / Debt 1.12b)
Taxrate = 1.21% (1.08m / 89.8m)
NOPAT = 128.1m (EBIT 129.7m * (1 - 1.21%))
Current Ratio = 0.41 (Total Current Assets 14.3m / Total Current Liabilities 35.2m)
Debt / Equity = 1.04 (Debt 1.12b / totalStockholderEquity, last quarter 1.08b)
Debt / EBITDA = 3.34 (Net Debt 1.11b / EBITDA 331.7m)
Debt / FCF = 16.22 (Net Debt 1.11b / FCF TTM 68.3m)
Total Stockholder Equity = 1.12b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.96% (Net Income 88.7m / Total Assets 2.25b)
RoE = 7.91% (Net Income TTM 88.7m / Total Stockholder Equity 1.12b)
RoCE = 5.85% (EBIT 129.7m / Capital Employed (Total Assets 2.25b - Current Liab 35.2m))
RoIC = 5.81% (NOPAT 128.1m / Invested Capital 2.21b)
WACC = 6.78% (E(907.7m)/V(2.03b) * Re(6.88%) + D(1.12b)/V(2.03b) * Rd(6.79%) * (1-Tc(0.01)))
Discount Rate = 6.88% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -46.67 | Cagr: -2.52%
[DCF] Terminal Value 75.44% ; FCFF base≈68.3m ; Y1≈68.6m ; Y5≈72.7m
[DCF] Fair Price = 0.33 (EV 1.13b - Net Debt 1.11b = Equity 22.0m / Shares 66.4m; r=8.35% [WACC [floored]]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.49 | # QB: 0
Revenue Correlation: 95.04 | Revenue CAGR: 21.10% | SUE: -1.72 | # QB: -1
EPS current Quarter (2026-06-30): EPS=0.40 | Chg30d=N/A | Revisions=-17% | Analysts=5
EPS next Quarter (2026-09-30): EPS=0.40 | Chg30d=N/A | Revisions=+25% | Analysts=5
EPS current Year (2026-12-31): EPS=1.63 | Chg30d=+1.10% | Revisions=+38% | GrowthEPS=-2.5% | GrowthRev=-3.4%
EPS next Year (2027-12-31): EPS=1.59 | Chg30d=+0.40% | Revisions=+29% | GrowthEPS=-2.2% | GrowthRev=-0.0%
[Analyst] Revisions Ratio: +31% (up=9, down=4)