Kayne Anderson BDC, Inc. (KBDC) 10-Year Financial Performance & Capital Metrics

KBDC • • Banking & Credit

Financial ServicesAsset ManagementBusiness Development Companies (BDCs)Middle Market Lenders

AboutKayne Anderson BDC, Inc invests in middle market companies located in the United States with an EBITDA of USD 10 - 150 million. The fund focuses on a broad range of sectors and industries. It provides financing in the form of senior secured loans and split-lien loans to buyout transactions.Show more

Net Interest Income $154M +38.8%
Total Revenue $182M +37.1%
Net Income $132M +71.2%
Return on Equity 14.12% +16.8%
Net Interest Margin 7.39% -5.1%
Efficiency Ratio -4.9% -213.8%
ROA 7.53% +27.8%
Equity / Assets 56.96% +18.7%
Book Value per Share 18.61 +77.1%
Tangible BV/Share 18.61 +77.1%
Debt/Equity 0.71 -29.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong NIM of 7.4%
✓Efficient operations: -4.9% efficiency ratio
✓Well capitalized: 57.0% equity/assets
✓Trading at only 0.8x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y84.82%

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y80.9%

TTM-10.14%

EPS CAGR

10Y-

5Y-

3Y82.6%

TTM-2.33%

ROCE

10Y Avg5.67%

5Y Avg5.67%

3Y Avg6.28%

Latest7.68%

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

	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	14.56M	56.66M	110.81M	153.84M
NII Growth %	-	2.89%	0.96%	0.39%
Net Interest Margin %	-	-	-	-
Interest Income	18.75M	74.83M	160.43M	211.64M
Interest Expense	4.2M	18.17M	49.62M	57.8M
Loan Loss Provision	0	0	0	0
Non-Interest Income+	10M	-6.26M	-28.04M	-30.08M
Non-Interest Income %	-	-	-	-
Total Revenue+	28.76M	68.57M	132.4M	181.56M
Revenue Growth %	-	1.38%	0.93%	0.37%
Non-Interest Expense	2.27M	4.63M	5.7M	-8.9M
Efficiency Ratio	-	-	-	-
Operating Income+	22.29M	45.77M	77.08M	132.66M
Operating Margin %	-	-	-	-
Operating Income Growth %	-	1.05%	0.68%	0.72%
Pretax Income+	22.29M	45.77M	77.08M	132.66M
Pretax Margin %	-	-	-	-
Income Tax+	0	0	0	717K
Effective Tax Rate %	-	-	-	-
Net Income+	22.29M	45.77M	77.08M	131.94M
Net Margin %	-	-	-	-
Net Income Growth %	-	1.05%	0.68%	0.71%
Net Income (Continuing)	22.29M	45.77M	77.08M	131.94M
EPS (Diluted)+	0.34	0.70	1.19	2.07
EPS Growth %	-	1.06%	0.7%	0.74%
EPS (Basic)	0.34	0.70	1.19	2.07
Diluted Shares Outstanding	65.02M	65.02M	65.02M	63.76M

Balance Sheet

	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K
Cash & Due from Banks	2.04M	8.53M	34.07M	22.38M
Short Term Investments	0	0	1000K	0
Total Investments+	250K	7.15M	1.39B	0
Investments Growth %	-	27.59%	193.33%	-1%
Long-Term Investments	250K	7.15M	1.38B	0
Accounts Receivables	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-
Goodwill	0	0	0	0
Intangible Assets	0	0	0	0
PP&E (Net)	0	0	0	0
Other Assets	582.05M	1.17B	0	2.04B
Total Current Assets	4.17M	19.08M	1.48B	37.88M
Total Non-Current Assets	582.3M	1.18B	2.8B	2.04B
Total Assets+	586.46M	1.19B	1.42B	2.08B
Asset Growth %	-	1.04%	0.19%	0.46%
Return on Assets (ROA)	0.04%	0.05%	0.06%	0.08%
Accounts Payable	4.62M	16.38M	22.05M	28.42M
Total Debt+	266.33M	571.59M	689.32M	848.13M
Net Debt	264.29M	563.07M	655.25M	825.75M
Long-Term Debt	266.33M	571.59M	689.32M	848.13M
Short-Term Debt	0	0	0	0
Other Liabilities	3.55M	14.38M	-689.32M	19.77M
Total Current Liabilities	4.62M	16.38M	22.05M	28.42M
Total Non-Current Liabilities	269.88M	585.97M	740.61M	867.9M
Total Liabilities	274.5M	602.35M	740.61M	896.32M
Total Equity+	311.97M	592.04M	683.06M	1.19B
Equity Growth %	-	0.9%	0.15%	0.74%
Equity / Assets (Capital Ratio)	-	-	-	-
Return on Equity (ROE)	0.07%	0.1%	0.12%	0.14%
Book Value per Share	4.80	9.11	10.51	18.61
Tangible BV per Share	-	-	-	-
Common Stock	19K	36K	42K	71K
Additional Paid-in Capital	300.73M	574.54M	669.99M	1.15B
Retained Earnings	11.22M	17.46M	13.02M	33.88M
Accumulated OCI	0	0	0	0
Treasury Stock	0	0	0	0
Preferred Stock	0	0	0	0

Cash Flow

	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	9.47M	46.11M	79.85M	105.03M
Operating CF Growth %	-	3.87%	0.73%	0.32%
Net Income	22.29M	45.77M	77.08M	131.94M
Depreciation & Amortization	0	0	0	0
Deferred Taxes	0	0	0	0
Other Non-Cash Items	-13.25M	-2.85M	-8.73M	-14.28M
Working Capital Changes	434K	3.19M	11.51M	-12.63M
Cash from Investing+	-568.61M	-587.88M	-189.91M	-649.53M
Purchase of Investments	-651.13M	-730M	-407.93M	-1.02B
Sale/Maturity of Investments	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-
Acquisitions	0	0	0	0
Other Investing	0	0	21.37M	-1.14M
Cash from Financing+	561.16M	548.26M	135.6M	532.81M
Dividends Paid	-4.41M	-23.1M	-70.01M	-101.75M
Share Repurchases	0	0	0	0
Stock Issued	299.5M	268.22M	90.58M	481M
Net Stock Activity	-	-	-	-
Debt Issuance (Net)	1000K	1000K	1000K	1000K
Other Financing	-932K	-6.86M	-3.72M	-1.52M
Net Change in Cash+	2.02M	6.49M	25.54M	-11.69M
Exchange Rate Effect	0	0	0	0
Cash at Beginning	10K	2.04M	8.53M	34.07M
Cash at End	2.04M	8.53M	34.07M	22.38M
Interest Paid	0	0	0	0
Income Taxes Paid	0	0	0	0
Free Cash Flow+	9.47M	46.11M	79.85M	105.03M
FCF Growth %	-	3.87%	0.73%	0.32%

Banking Ratios

Metric	2021	2022	2023	2024
Return on Equity (ROE)	7.14%	10.12%	12.09%	14.12%
Return on Assets (ROA)	3.8%	5.14%	5.89%	7.53%
Net Interest Margin	2.48%	4.74%	7.78%	7.39%
Efficiency Ratio	7.9%	6.76%	4.31%	-4.9%
Equity / Assets	53.19%	49.57%	47.98%	56.96%
Book Value / Share	4.8	9.11	10.51	18.61
NII Growth	-	289.14%	95.58%	38.83%
Dividend Payout	19.77%	50.47%	90.84%	-

Frequently Asked Questions

Valuation & Price

Kayne Anderson BDC, Inc. (KBDC) has a price-to-earnings (P/E) ratio of 7.3x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Kayne Anderson BDC, Inc. (KBDC) grew revenue by 37.1% over the past year. This is strong growth.

Yes, Kayne Anderson BDC, Inc. (KBDC) is profitable, generating $107.2M in net income for fiscal year 2024 (72.7% net margin).

Dividend & Returns

Yes, Kayne Anderson BDC, Inc. (KBDC) pays a dividend with a yield of 10.50%. This makes it attractive for income-focused investors.

Kayne Anderson BDC, Inc. (KBDC) has a return on equity (ROE) of 14.1%. This is reasonable for most industries.

Industry Metrics

Kayne Anderson BDC, Inc. (KBDC) has a net interest margin (NIM) of 7.4%. This indicates healthy earnings from lending activities.

Kayne Anderson BDC, Inc. (KBDC) has an efficiency ratio of -4.9%. This is excellent, indicating strong cost control.

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