KBDC Stock Analysis: Kayne Anderson BDC | NYSE
Asset Management | NYSE, USA | Market Cap: 863m USD | 12M Return: 6.2% | US48662X1054 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 4.28M
Qual. Beats: 0
Rev. Trend: 93.6%
Qual. Beats: -2
Warnings
Tailwinds
No distinct edge detected
Seasonality 2.3 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: 74.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.66 > 0.02 and ΔFCF/TA -21.29 > 1.0 |
| NWC/Revenue: 19.6k% < 20% (prev 12.47%; Δ 19.6k% < -1%) |
| CFO/TA 0.04 > 3% & CFO 85.2m > Net Income 74.5m |
| Net Debt (-1.06b) to EBITDA (1.64b): -0.65 < 3 |
| Current Ratio: 1.14k > 1.5 & < 3 |
| Outstanding Shares: last quarter (66.3m) vs 12m ago -6.42% < -2% |
| Gross Margin: 77.30% > 18% (prev 64.24%; Δ 13.07% > 0.5%) |
| Asset Turnover: 8.58% > 50% (prev 7.98%; Δ 0.60% > 0%) |
| Interest Coverage Ratio: 1.72 > 6 (EBIT TTM 134.8m / Interest Expense TTM 78.3m) |
| A: 16.52 (Total Current Assets 38.7b - Total Current Liabilities 34.0m) / Total Assets 2.34b |
| B: -0.01 (Retained Earnings -23.3m / Total Assets 2.34b) |
| C: 0.06 (EBIT TTM 134.8m / Avg Total Assets 2.30b) |
| D: 0.83 (Book Value of Equity 1.06b / Total Liabilities 1.28b) |
| Altman-Z'' = 109.6 = AAA |
As of September 27, 2026, the stock is trading at USD 13.04 with a total of 401,974 shares traded. Over the past week, the price has changed by -0.23%, over one month by -3.55%, over three months by -1.65% and over the past year by +6.20%.
Current recommended Stop Loss: 12.60 (which is 3.4% or 1.8 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 | 14.5 | 11.2% |
P/E Trailing = 11.9908
P/E Forward = 8.5397
P/S = 10.6204
P/B = 0.8251
Revenue TTM = 197.2m USD
EBIT TTM = 134.8m USD
EBITDA TTM = 1.64b USD
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = 1.22b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -1.06b USD (calculated: Debt 1.22b - CCE 2.28b)
Enterprise Value = 863.1m USD (floored to Market Cap, CCE > MCap+Debt)
Interest Coverage Ratio = 1.72 (Ebit TTM 134.8m / Interest Expense TTM 78.3m)
EV/FCF = 0.56x (Enterprise Value 863.1m / FCF TTM 1.55b)
FCF Yield = 179.8% (FCF TTM 1.55b / Enterprise Value 863.1m)
FCF Margin = 786.8% (FCF TTM 1.55b / Revenue TTM 197.2m)
Net Margin = 37.80% (Net Income TTM 74.5m / Revenue TTM 197.2m)
Gross Margin = 77.30% ((Revenue TTM 197.2m - Cost of Revenue TTM 44.8m) / Revenue TTM)
Gross Margin QoQ = 82.85% (prev 81.49%)
Tobins Q-Ratio = 0.37 (Enterprise Value 863.1m / Total Assets 2.34b)
Interest Expense / Debt = 6.41% (Interest Expense 78.3m / Debt 1.22b)
Taxrate = 1.04% (787k / 75.3m)
NOPAT = 133.4m (EBIT 134.8m * (1 - 1.04%))
Current Ratio = 639.6 (out of range, set to none) (Total Current Assets 38.7b / Total Current Liabilities 60.5m)
Debt / Equity = 1.15 (Debt 1.22b / totalStockholderEquity, last quarter 1.06b)
Debt / EBITDA = -0.65 (Net Debt -1.06b / EBITDA 1.64b)
Debt / FCF = -0.68 (Net Debt -1.06b / FCF TTM 1.55b)
Total Stockholder Equity = 1.10b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.24% (Net Income 74.5m / Total Assets 2.34b)
RoE = 6.79% (Net Income TTM 74.5m / Total Stockholder Equity 1.10b)
RoCE = 5.84% (EBIT 134.8m / Capital Employed (Total Assets 2.34b - Current Liab 34.0m))
RoIC = 5.81% (NOPAT 133.4m / Invested Capital 2.30b)
WACC = 6.58% (E(863.1m)/V(2.09b) * Re(6.91%) + D(1.22b)/V(2.09b) * Rd(6.41%) * (1-Tc(0.01)))
Discount Rate = 6.91% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -17.35 | Cagr: 0.90%
[DCF] Terminal Value 73.10% ; FCFF base≈1.72b ; Y1≈1.51b ; Y5≈1.22b
[DCF] Fair Price = 312.4 (EV 19.6b - Net Debt -1.06b = Equity 20.6b / Shares 66.0m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.48 | # QB: 0
Revenue Correlation: 93.64 | Revenue CAGR: 17.85% | SUE: -2.30 | # QB: -2
EPS current Quarter (2026-09-30): EPS=0.39 | Chg30d=-2.86% | Revisions=-29% | Analysts=5
EPS current Year (2026-12-31): EPS=1.62 | Chg30d=-0.24% | Revisions=-38% | GrowthEPS=-2.7% | GrowthRev=-3.3%
EPS next Year (2027-12-31): EPS=1.57 | Chg30d=-1.20% | Revisions=-29% | GrowthEPS=-3.1% | GrowthRev=+2.5%
[Analyst] Revisions Ratio: -44% (up=3, down=10)