KA

Kayne Anderson BDC, Inc.

KBDC·NYSE

$14.18

-3.2%
Financial ServicesAsset Management

Kayne 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.

At a Glance

Live Snapshot
Market Cap$940.84M
EPS1.3300
P/E Ratio10.66
Earnings Date08/10/2026

Intrinsic Alpha Methodology

Thesis Lenses

Signal · Driver · Risk

Signal

High confidence

Valuation multiple is compressed (P/E 10.7).

Valuation inputs: P/E 10.7, earnings yield +9.4%, momentum -3.2%.

If multiples stay elevated while momentum fades, downside repricing risk rises.

Driver

High confidence

Return profile is soft (ROE +8.4%, ROIC +4.0%).

Profitability stack: net margin +39.7%, ROE +8.4%, ROIC +4.0%.

Quality deterioration often appears in margins before it shows up in headline EPS.

Risk

High confidence

Downside profile looks controlled across current risk inputs.

Risk factors: liabilities/assets +51.5%, momentum -3.2%, net margin +39.7%.

Higher leverage with weak momentum and thin margins can amplify drawdown severity.

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Kayne Anderson BDC, Inc. Market vs Earnings Trajectory

KBDC · NYSE

Loading price and EPS data...

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Kayne Anderson BDC, Inc. Fair Value Envelope

KBDC · NYSE

Our analysis suggests that KBDC has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $14.18, this represents a potential HIDDEN relative to our calculated worth for Kayne Anderson BDC, Inc..

Intrinsic Value
Current Price: $14.18
3Y+90.0%
5Y+291.0%
10Y+291.0%
3Y+244.0%
5Y+720.0%
10Y+720.0%
3Y+105.0%
5Y+320.0%
10Y+320.0%
3Y-314.0%
5Y-1142.0%
10Y-1142.0%
3Y-314.0%
5Y-1142.0%
10Y-1142.0%
3Y+91.0%
5Y+547470.0%
10Y+547470.0%
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Kayne Anderson BDC, Inc. Profit Bridge

KBDC · NYSE
Revenue235.82M
Cost of Goods Sold (36.96M)
Gross Profit198.78M
Operating Expenses (27.05M)
Operating Income171.72M
Interest Expense (76.36M)
Other Income/Expense-76.36M
Pretax Income95.36M
Income Tax (1.66M)
Net Income93.71M
Net Income
93.71M

Profitability Analysis

Gross Margin

84.3%

Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.

Operating Margin

72.8%

Outstanding operational efficiency. The company generates substantial profit from core operations.

Net Profit Margin

39.7%

Exceptional profitability. The company converts a significant portion of revenue to bottom-line earnings.

Effective Tax Rate

1.7%

Below-average tax rate suggests effective tax planning, favorable jurisdictions, or tax credits.

Profitability Insight

Exceptional profitability across all levels: Strong pricing power, efficient operations, and healthy bottom line indicate a high-quality business with sustainable competitive advantages.

84.29%
Gross Profit Margin
24%
3Y+15.0%
5Y-
10Y-
72.82%
Operating Profit Margin
3Y+9.0%
5Y-
10Y-
39.74%
Net Profit Margin
-45%
3Y-40.0%
5Y-
10Y-
8.44%
Return on Equity
-24%
3Y+9.0%
5Y-
10Y-
4.10%
Return on Assets
-35%
3Y+7.0%
5Y-
10Y-
400.90%
Return on Invested Capital
6142%
3Y+10219.0%
5Y-
10Y-
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Kayne Anderson BDC, Inc. Cash Conversion Engine

KBDC · NYSE
Net Income0.00
Depreciation & Amortization3.97M
Stock-Based Compensation0.00
Change in Working Capital-653.00K
Others91.54M
Capital Expenditures0.00
Free Cash Flow-98.72M

Cash Flow Quality Analysis

FCF Growth Trend

-194.0%

Significant FCF decline raises concerns. Urgent review needed of operational performance and capital allocation.

Working Capital Impact

-$653.00K

Minimal working capital impact on FCF. Changes in operating assets and liabilities well-managed.

Cash Flow Quality Insight

Deteriorating cash generation: Both declining FCF and weak conversion rate signal fundamental challenges. Investigate margin pressure, rising costs, or working capital issues.

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Kayne Anderson BDC, Inc. Funding & Solvency Profile

KBDC · NYSE
Cash & Cash Equivalents14.31B
Net Receivables24.42B
Inventory0.00
Other Current Assets0.00
Total Current Assets39 B
Property, Plant & Equipment0.00
Goodwill & Intangible Assets0.00
Long-Term Investments0.00
Other Non-Current Assets0.00
Total Non-Current Assets0
Total Assets
2252.36B

Financial Health Analysis

Debt-to-Equity Ratio

1.09x

Elevated leverage. Debt exceeds equity, which amplifies both gains and risks. Monitor debt servicing ability.

Working Capital

39 B

Strong working capital position provides significant operational flexibility and financial cushion.

Asset Composition

2% Current

Capital-intensive business with significant long-term investments in property, equipment, or intangibles.

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Kayne Anderson BDC, Inc. Street Expectations Map

KBDC · NYSE

Wall Street analysts project that KBDC stock may experience modest gains over the coming 12 months. The consensus 1-year price target stands at 15.00, with estimates ranging from a low of 15.00 to a high of 15.00.

Lowest Target
15.00
5.78%
Consensus Target
15.00
5.78%
Highest Target
15.00
5.78%

The consensus 1-year price target stands at 15.00, with estimates ranging from a low of 15.00 to a high of 15.00.

Analyst Consensus Analysis

Upside Potential

+5.8%

Moderate upside. Analysts expect positive returns but with limited margin of safety. Consider entry timing.

Analyst Agreement

0.0% spread

High analyst agreement. Narrow target range indicates strong consensus on valuation, suggesting clear investment thesis and predictable outlook.

Analyst Conviction

High

Positive outlook with reasonable agreement. Analysts generally optimistic about prospects with manageable uncertainty.

Market Sentiment Insight

Monitor and evaluate: Current analyst consensus suggests limited conviction or near-term catalysts. Stay informed on company developments and reassess positioning as new information emerges.

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Kayne Anderson BDC, Inc. Insider Positioning

KBDC · NYSE

During the last 12 months, insiders have purchased $143K worth of KBDC shares, with no selling activity reported.

3 Months

Bought

9.0K

123.66K

Sold

0

0.00

Net Activity

+124K

+$124K

3-6 Months

Bought

1.0K

13.96K

Sold

0

0.00

Net Activity

+14K

+$14K

6-9 Months

Bought

365

4.99K

Sold

0

0.00

Net Activity

+5K

+$5K

9-12 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

Top Buyers

1
MGEJ

Marucci George E Jr

Director

10.0K shares2 transactions

$138K

2
SRS

Smith Rhonda Scott

Director

365 shares1 transactions

$5K

Top Sellers

No selling activity

Insider Activity Analysis

Net Insider Sentiment

Bullish

Strong bullish signal with $143K net buying. Insiders are aggressively accumulating shares, suggesting significant confidence in future prospects.

Buy/Sell Ratio

∞:1

Perfect buy/sell ratio. Only buying activity with zero selling—the most bullish possible insider signal.

Recent Trend (3 Months)

$124K

Very strong recent buying momentum. Recent insider purchases significantly outpace sales, suggesting near-term optimism.

Insider Participation

High Buying

2 insider buyers vs. 0 sellers. Broad-based buying across management team suggests widespread confidence.

Insider Activity Insight

Compelling insider conviction: The combination of strong buy/sell ratio and multiple buyers suggests insiders see attractive risk/reward. Consider this alongside fundamental analysis for confirmation.

313.61%
Dividend Yield
-53%
3Y+22865.0%
5Y+40418.0%
10Y+40418.0%
 

kbdc Dividend History

KBDC
10Y CAGR +0%
Latest $0.4
Annual $2
Stable dividend payments
Last Period: +0%