Investcorp Credit Management BDC, Inc. (ICMB) 10-Year Financial Performance & Capital Metrics

ICMB • • Banking & Credit

Financial ServicesAsset ManagementBusiness Development Companies (BDCs)Middle Market Lenders

AboutInvestcorp Credit Management BDC, Inc. is a business development company specializing in loan, mezzanine, middle market, growth capital, acquisitions, market/product expansion, organic growth, refinancings and recapitalization investments. It also selectively invests in mezzanine loans/structured equity and in the equity of portfolio companies through warrants and other instruments, in most cases taking such upside participation interests as part of a broader investment relationship. The fund typically invests in United States and Europe. Within United States, the fund seeks to invest in Midatlantic, Midwest, Northeast, Southeast, and West Coast regions. The fund primarily invests in cable and satellites; consumer services; healthcare equipment and services; industrials; information technology; telecommunication services; and utilities sectors. The fund seeks to invest between $5 million to $25 million in companies that have annual revenues of at least $50 million with EBITDA at least $15 million.Show more

Net Interest Income -$8M -159.4%
Total Revenue $23M
Net Income $12M
Return on Equity 15.57% +6.5%
Net Interest Margin -3.96% -159.4%
Efficiency Ratio 35%
ROA 5.84% +6.0%
Equity / Assets 37.52%
Book Value per Share 5.39
Tangible BV/Share 5.39
Debt/Equity 1.57

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 35.0% efficiency ratio
✓Well capitalized: 37.5% equity/assets
✓Diversified revenue: 100.0% from non-interest income
✓Trading at only 0.5x book value

✗Weaknesses

✗Weak Piotroski F-Score: 2/9
✗Weak NIM of -4.0%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y2.19%

5Y-7.57%

3Y-1.64%

TTM-

Profit (Net Income) CAGR

10Y-2.42%

5Y-

3Y67.17%

TTM158.66%

EPS CAGR

10Y-2.92%

5Y-

3Y67.11%

TTM-72.17%

ROCE

10Y Avg3.75%

5Y Avg7.16%

3Y Avg7.61%

Latest7.57%

Peer Comparison

Middle Market Lenders

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
GSBDGoldman Sachs BDC, Inc.	1.08B	9.43	17.15	-57.7%	32.67%	9.15%	18.68%	1.23
CSWCCapital Southwest Corporation	1.36B	23.72	16.14	7.67%	43.07%	9.13%		1.08
HCXYHercules Capital, Inc.	2.36B	25.18	15.64	-9.71%	62.54%	14.13%		0.90
TRINITrinity Capital Inc. 7.875% Notes Due 2029	1.91B	25.41	12.10	29.68%	50.98%	15.22%	4.92%	1.08
HTGCHercules Capital, Inc.	3.45B	18.97	11.78	-12.79%	61.03%	14.17%		0.90
TSLXSixth Street Specialty Lending, Inc.	2.12B	22.40	11.03	-2.72%	51.86%	11.83%	8.85%	1.18
MAINMain Street Capital Corporation	5.75B	64.20	10.97	18.32%	70.11%	18.28%		0.76
GBDCGolub Capital BDC, Inc.	3.68B	13.95	9.82	80.52%	46.2%	9.4%

Profit & Loss

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Dec 2024
Net Interest Income+	30.6M	25.15M	24.99M	24.68M	-9.67M	-8.48M	-7.33M	-9.18M	13.78M	-8.19M
NII Growth %	-0.07%	-0.18%	-0.01%	-0.01%	-1.39%	0.12%	0.14%	-0.25%	2.5%	-1.59%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	34.64M	29.9M	31.3M	33.55M	33.11M	25.3M	22.98M	25.12M	22.39M	0
Interest Expense	4.05M	4.75M	6.31M	8.87M	9.54M	7.38M	6.63M	8.41M	8.61M	0
Loan Loss Provision	35.94M	3.23M	4.1M	35.2M	-9.54M	-7.38M	-6.63M	-8.41M	-8.61M	0
Non-Interest Income+	936.21K	-1.7M	-8.97M	852.41K	1.35M	1.39M	1.45M	1.56M	854.86K	23.25M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	35.58M	28.2M	22.33M	34.4M	34.46M	26.69M	24.43M	26.68M	23.25M	23.25M
Revenue Growth %	0.9%	-0.21%	-0.21%	0.54%	0%	-0.23%	-0.08%	0.09%	-0.13%	0%
Non-Interest Expense	4.94M	4.62M	4.12M	4.72M	10.48M	8.83M	7.91M	7.78M	8.13M	8.13M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	-4.94M	-4.62M	-4.12M	-5.52M	23.98M	17.86M	16.52M	18.9M	15.11M	15.11M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.5%	0.06%	0.11%	-0.34%	5.35%	-0.26%	-0.07%	0.14%	-0.2%	0%
Pretax Income+	-9.34M	23.58M	18.2M	-14.38M	-24.51M	-2.04M	2.86M	3.53M	12.71M	12.71M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	-4.94M	-4.62M	2.58M	158.03K	144.71K	268.99K	270.62K	294.33K	630.15K	630.15K
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	-9.34M	23.58M	15.63M	-14.54M	-24.66M	-2.31M	2.59M	3.23M	12.08M	12.08M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-1.61%	3.52%	-0.34%	-1.93%	-0.7%	0.91%	2.12%	0.25%	2.74%	0%
Net Income (Continuing)	-9.34M	23.58M	15.63M	-14.54M	-24.66M	-2.31M	2.59M	3.23M	12.08M	12.08M
EPS (Diluted)+	-0.68	1.72	1.14	-1.07	-1.79	-0.17	0.18	0.22	-0.28	0.84
EPS Growth %	-1.6%	3.53%	-0.34%	-1.94%	-0.67%	0.91%	2.06%	0.22%	-2.27%	4%
EPS (Basic)	-0.68	1.72	1.14	-1.07	-1.79	-0.17	0.18	0.22	-0.28	0.84
Diluted Shares Outstanding	13.67M	13.69M	13.69M	13.63M	13.74M	13.91M	14.3M	14.39M	14.4M	14.4M

Balance Sheet

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	771.48K	771.48K
Cash & Due from Banks	18.43M	10.65M	5.62M	19.71M	14.88M	5.85M	2.55M	1.09M	771.48K	771.48K
Short Term Investments	0	0	0	0	0	0	0	0	0	0
Total Investments+	281.19M	260.74M	293.82M	306.39M	270.62M	245.86M	233.68M	0	155.53M	155.53M
Investments Growth %	-0.15%	-0.07%	0.13%	0.04%	-0.12%	-0.09%	-0.05%	-1%	-	0%
Long-Term Investments	281.19M	260.74M	293.82M	306.39M	270.62M	245.86M	233.68M	0	155.53M	155.53M
Accounts Receivables	0	0	0	0	0	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
PP&E (Net)	0	0	0	0	0	0	0	0	0	0
Other Assets	-281.19M	-260.74M	-293.82M	-336.95M	-296.79M	0	-233.68M	220.11M	36.58M	36.58M
Total Current Assets	1.9M	1.63M	12.01M	23.62M	20.41M	21.83M	3.14M	11.7M	14.75M	14.75M
Total Non-Current Assets	319.96M	296.03M	314.53M	306.39M	270.62M	245.86M	246.39M	220.11M	192.11M	192.11M
Total Assets+	319.96M	296.03M	314.53M	336.95M	296.79M	267.68M	246.39M	231.81M	206.85M	206.85M
Asset Growth %	-0.12%	-0.07%	0.06%	0.07%	-0.12%	-0.1%	-0.08%	-0.06%	-0.11%	0%
Return on Assets (ROA)	-0.03%	0.08%	0.05%	-0.04%	-0.08%	-0.01%	0.01%	0.01%	0.06%	0.06%
Accounts Payable	13.81M	16.12M	16.29M	26.41M	3.5M	0	3.98M	1.8M	1.47M	1.47M
Total Debt+	130.97M	101.42M	117.87M	165.53M	182.33M	165.43M	146.82M	135.48M	122.04M	122.04M
Net Debt	112.53M	90.78M	112.25M	145.82M	167.46M	159.58M	144.27M	134.39M	121.27M	121.27M
Long-Term Debt	0	0	0	165.53M	182.33M	165.43M	146.82M	135.48M	122.04M	122.04M
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Other Liabilities	0	0	0	-165.53M	-182.33M	0	0	0	0	0
Total Current Liabilities	13.81M	16.12M	16.29M	26.41M	3.5M	5.9M	3.98M	8.62M	7.21M	7.21M
Total Non-Current Liabilities	157.21M	126.09M	143.01M	165.53M	182.33M	165.43M	146.82M	135.48M	122.04M	122.04M
Total Liabilities	157.21M	126.09M	143.01M	193.86M	188.67M	171.33M	152.88M	144.11M	129.25M	129.25M
Total Equity+	257.26M	238.11M	281.07M	282.31M	270.16M	96.36M	93.51M	87.7M	77.6M	77.6M
Equity Growth %	0.31%	-0.07%	0.18%	0%	-0.04%	-0.64%	-0.03%	-0.06%	-0.12%	0%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	-0.04%	0.1%	0.06%	-0.05%	-0.09%	-0.01%	0.03%	0.04%	0.15%	0.16%
Book Value per Share	18.81	17.40	20.53	20.71	19.66	6.93	6.54	6.09	5.39	5.39
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	13.68K	13.69K	13.65K	13.62K	13.88K	13.92K	14.39K	14.39K	14.41K	14.41K
Additional Paid-in Capital	199.72M	199.07M	198.7M	198.4M	200.78M	200.66M	203.59M	203.33M	203.51M	203.51M
Retained Earnings	-1.74M	-2.34M	2.95M	-55.33M	-92.67M	-104.32M	-110.1M	-115.64M	-125.92M	-125.92M
Accumulated OCI	162.75M	169.95M	171.52M	0	0	0	93.51M	0	0	0
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Dec 2024
Cash from Operations+	41.32M	40.72M	-8.24M	-13.96M	-10.55M	20.21M	21.21M	20.71M	7.28M	-13.52M
Operating CF Growth %	1.86%	-0.01%	-1.2%	-0.69%	0.24%	2.92%	0.05%	-0.02%	-0.65%	-2.86%
Net Income	-9.34M	23.58M	15.63M	-14.54M	-24.66M	-2.31M	2.59M	3.23M	-4.09M	12.08M
Depreciation & Amortization	27.37M	-22.59M	-10.41M	2.63M	28.46M	2.87M	-10.72M	764.44K	0	683.12K
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	32.28M	40.73M	-27.58M	-14.64M	7.45M	23.02M	23.58M	13.57M	6.41M	-26M
Working Capital Changes	-8.99M	-999.67K	14.13M	12.6M	-21.8M	-3.37M	5.76M	3.14M	4.96M	-296.37K
Cash from Investing+	32.08M	40.22M	-35.19M	-36.45M	3.79M	19.09M	9.13M	10.66M	29.78M	0
Purchase of Investments	-63.05M	-108.08M	-172.24M	-201.93M	-127.93M	-89.09M	-144.75M	-51.27M	-62.52M	0
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	0	0	0	0	0	0	0	0
Other Investing	0	0	0	0	0	0	0	0	0	0
Cash from Financing+	-44.42M	-48.51M	3.21M	31.93M	4.55M	-27.9M	-24.66M	-20.71M	-41.1M	27.52M
Dividends Paid	-24.79M	-17.77M	-13.67M	-13.55M	-13.52M	-9.87M	-8.51M	-8.61M	-11.19M	-5.74M
Share Repurchases	0	0	-390.18K	-358.57K	0	0	0	0	0	0
Stock Issued	0	0	0	0	2.31M	0	3.14M	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	-1000K	1000K	1000K	1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Other Financing	0	-258.54K	-555.91K	-1.86M	-88.17K	0	0	0	0	62.15M
Net Change in Cash+	-3.1M	-7.79M	-5.03M	17.97M	-6M	-7.69M	-3.45M	-3.86K	-4.04M	-4.04M
Exchange Rate Effect	-1000K	-1000K	1000K	1000K	-1000K	-1000K	-1000K	-1000K	0	0
Cash at Beginning	21.54M	18.43M	10.65M	8.33M	26.3M	20.29M	12.61M	9.16M	9.15M	9.15M
Cash at End	18.43M	10.65M	5.62M	26.3M	20.29M	12.61M	9.16M	9.15M	5.11M	5.11M
Interest Paid	0	0	0	0	0	0	0	0	0	7.62M
Income Taxes Paid	0	0	0	0	0	0	0	0	0	0
Free Cash Flow+	41.32M	40.72M	-8.24M	-13.96M	-10.55M	20.21M	21.21M	20.71M	7.28M	-13.52M
FCF Growth %	1.86%	-0.01%	-1.2%	-0.69%	0.24%	2.92%	0.05%	-0.02%	-0.65%	-2.86%

Banking Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-4.11%	9.52%	6.02%	-5.16%	-8.93%	-1.26%	2.72%	3.57%	14.62%	15.57%
Return on Assets (ROA)	-2.74%	7.66%	5.12%	-4.46%	-7.78%	-0.82%	1.01%	1.35%	5.51%	5.84%
Net Interest Margin	9.56%	8.5%	7.94%	7.32%	-3.26%	-3.17%	-2.97%	-3.96%	6.66%	-3.96%
Efficiency Ratio	13.88%	16.39%	18.46%	13.71%	30.41%	33.1%	32.38%	29.17%	35%	35%
Equity / Assets	80.4%	80.43%	89.36%	83.79%	91.03%	36%	37.95%	37.83%	37.52%	37.52%
Book Value / Share	18.81	17.4	20.53	20.71	19.66	6.93	6.54	6.09	5.39	5.39
NII Growth	-6.61%	-17.79%	-0.64%	-1.24%	-139.19%	12.27%	13.66%	-25.28%	250.19%	-159.4%
Dividend Payout	-	75.36%	87.45%	-	-	-	328.81%	248.47%	-	28.49%

Frequently Asked Questions

Valuation & Price

Investcorp Credit Management BDC, Inc. (ICMB) has a price-to-earnings (P/E) ratio of 3.4x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Investcorp Credit Management BDC, Inc. (ICMB) grew revenue by 0.0% over the past year. Growth has been modest.

Yes, Investcorp Credit Management BDC, Inc. (ICMB) is profitable, generating $1.8M in net income for fiscal year 2025 (52.0% net margin).

Dividend & Returns

Yes, Investcorp Credit Management BDC, Inc. (ICMB) pays a dividend with a yield of 8.45%. This makes it attractive for income-focused investors.

Investcorp Credit Management BDC, Inc. (ICMB) has a return on equity (ROE) of 15.6%. This is reasonable for most industries.

Industry Metrics

Investcorp Credit Management BDC, Inc. (ICMB) has a net interest margin (NIM) of -4.0%. NIM has been under pressure due to interest rate environment.

Investcorp Credit Management BDC, Inc. (ICMB) has an efficiency ratio of 35.0%. This is excellent, indicating strong cost control.

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