Investcorp Credit Management BDC, Inc. Registered (ICMB)
NASDAQ:ICMB
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Investcorp Credit Management BDC
(NASDAQ:ICMB)
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Rating:44Neutral
Price Target:
$1.50
▼(-45.65% Downside)
Action:ReiteratedDate:04/02/26
The score is held down primarily by sharply weakened TTM fundamentals (large revenue decline and deep losses) and elevated leverage with negative ROE. Technicals also indicate a strong downtrend with bearish momentum, despite oversold readings. The main offset is improved recent cash generation and a very high dividend yield, though earnings-based valuation signals are not available from the provided P/E.
Positive Factors
Platform & middle-market credit focus
ICMB’s external management by an Investcorp affiliate provides durable access to sourcing, structuring and underwriting capabilities across middle‑market credit. That platform linkage and a diversified private credit portfolio support consistent deal flow, specialization and scale benefits that underpin income generation over time.
Negative Factors
Severe TTM revenue decline and deep losses
A large decline in revenue and a swing to substantial net losses signal materially weakened underlying earnings power. Persistent or recurring revenue stress undermines dividend sustainability, reduces retained capital for reinvestment, and makes recovery harder without decisive improvement in portfolio performance or origination margins.
Read all positive and negative factors
Positive Factors
Negative Factors
Platform & middle-market credit focus
ICMB’s external management by an Investcorp affiliate provides durable access to sourcing, structuring and underwriting capabilities across middle‑market credit. That platform linkage and a diversified private credit portfolio support consistent deal flow, specialization and scale benefits that underpin income generation over time.
Read all positive factors
Investcorp Credit Management BDC (ICMB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
N/A
Dividend Yield19.05%
Average Volume (3M)43.78K
Price to Earnings (P/E)―
Beta (1Y)0.05
Revenue Growth29.71%
EPS Growth-1786.79%
CountryUS
Employees2
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)-0.65
Shares Outstanding14,432,472
10 Day Avg. Volume28,162
30 Day Avg. Volume43,783
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.56
Price to Sales (P/S)1.88
P/FCF Ratio-3.23
Enterprise Value/Market Cap10.00T>
Enterprise Value/Revenue21.99
Enterprise Value/Gross Profit196.12
Enterprise Value/Ebitda-15.41
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.15
Revenue Forecast (FY)$18.32M
Investcorp Credit Management BDC Business Overview & Revenue Model
Company Description
Investcorp 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...
How the Company Makes Money
ICMB makes money primarily from investment income generated by its credit portfolio. The core revenue stream is interest income earned on loans and other debt investments it holds (typically floating-rate and/or fixed-rate instruments), which accr...
Investcorp Credit Management BDC Earnings Call Summary
Earnings Call Date:Feb 16, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:May 18, 2026
Earnings Call Sentiment Neutral
The call presents a mixed picture: meaningful positives include a parent backstop commitment improving near-term liquidity, solid portfolio diversification, improved coverage metrics, modestly higher portfolio yield, and strong realized IRRs. Offsetting these positives are sequential declines in net investment income and NAV per share, an increase in nonaccruals, reduced portfolio fair value, distributions paid in excess of earnings, and weak deal flow with compressed spreads that limit attractive new investments. Management emphasizes caution, credit quality and parent support while remaining selective on deployments.Positive Updates
Parent Backstop Commitment Strengthens Liquidity
Investcorp Capital (affiliate) committed up to $65 million to backstop refinancing of the 4.78% notes due April 1, 2026, providing near-term liquidity and balance sheet flexibility; new coupon parameters disclosed as SOFR + 550 bps if used.
Negative Updates
Net Investment Income Decline
Net investment income before taxes was $0.6 million or $0.04 per share, down $0.02 per share sequentially (a 33% decline from the prior quarter's $0.06 per share), reducing near-term earnings power.
Read all updates
Q2-2026 Updates
Positive
Negative
Parent Backstop Commitment Strengthens Liquidity
Investcorp Capital (affiliate) committed up to $65 million to backstop refinancing of the 4.78% notes due April 1, 2026, providing near-term liquidity and balance sheet flexibility; new coupon parameters disclosed as SOFR + 550 bps if used.
Read all positive updates
Company Guidance
Management's guidance centered on liquidity and disciplined deployment: the Board approved an Investcorp Capital backstop to refinance the maturing $65.0M notes due April 1, 2026 (new coupon SOFR + 550 bps, floating), Investcorp holds ~3.6M shares, and management expects NII to benefit from new fundings while remaining selective (not rotating into lower‑yielding deals) to keep the dividend fully supported; they also reiterated focus on credit quality and structural protections. Key metrics cited include portfolio fair value $196.1M, net assets $72.7M, NAV $5.04/sh (from $5.27), NII $0.6M ($0.04/sh), debt yield 10.9%, weighted spread 4.6%, nonaccruals 4.4%, ~82% of assets in top‑2 risk ratings, interest coverage 2.3x, weighted LTV ~41%, average company exposure ~$4.7M, gross/net leverage 1.75x/1.59x, cash $11.6M ($7.8M restricted) and $36.5M revolver capacity.Investcorp Credit Management BDC Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
46
Neutral
Cash Flow
54
Neutral
| Breakdown | TTM | Dec 2024 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.51M | 23.25M | 23.25M | 26.68M | 24.43M | 26.69M |
| Gross Profit | 729.57K | 23.25M | 23.25M | 26.68M | 24.43M | 26.69M |
| EBITDA | -9.28M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Income | -7.08M | 12.08M | 12.08M | 3.23M | 2.59M | -2.31M |
Balance Sheet | ||||||
| Total Assets | 188.84M | 206.85M | 206.85M | 231.81M | 246.39M | 267.68M |
| Cash, Cash Equivalents and Short-Term Investments | 4.58M | 771.48K | 771.48K | 1.09M | 2.55M | 5.85M |
| Total Debt | 123.13M | 122.04M | 122.04M | 135.48M | 146.82M | 165.43M |
| Total Liabilities | 127.51M | 129.25M | 129.25M | 144.11M | 152.88M | 171.33M |
| Stockholders Equity | 61.33M | 77.60M | 77.60M | 87.70M | 93.51M | 96.36M |
Cash Flow | ||||||
| Free Cash Flow | 14.94M | -13.52M | 7.28M | 20.71M | 21.21M | 20.21M |
| Operating Cash Flow | 14.94M | -13.52M | 7.28M | 20.71M | 21.21M | 20.21M |
| Investing Cash Flow | -3.28M | 0.00 | 29.78M | 10.66M | 9.13M | 19.09M |
| Financing Cash Flow | -8.76M | 27.52M | -41.10M | -20.71M | -24.66M | -27.90M |
Investcorp Credit Management BDC Technical Analysis
Negative
2.76
Price Trends
2.46
Negative
2.62
Negative
2.62
Negative
Market Momentum
-0.26
Negative
37.02
Neutral
49.28
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ICMB, the sentiment is Negative. The current price of 2.76 is above the 20-day moving average (MA) of 1.78, above the 50-day MA of 2.46, and above the 200-day MA of 2.62, indicating a bearish trend. The MACD of -0.26 indicates Negative momentum. The RSI at 37.02 is Neutral, neither overbought nor oversold. The STOCH value of 49.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ICMB.
Investcorp Credit Management BDC Risk Analysis
Investcorp Credit Management BDC disclosed 80 risk factors in its most recent earnings report. Investcorp Credit Management BDC reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Investcorp Credit Management BDC Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
59 Neutral | $109.42M | -13.03 | -2.90% | 14.03% | -34.92% | -132.22% | |
58 Neutral | $292.53M | 10.64 | 5.42% | 16.61% | -3.09% | 200.66% | |
57 Neutral | $348.00M | 4.72 | 17.30% | 6.55% | 6.38% | 25.69% | |
54 Neutral | $50.51M | ― | -23.38% | 25.87% | -14.76% | ― | |
53 Neutral | $318.23M | -123.58 | >-0.01% | 14.10% | -2.38% | -75.49% | |
44 Neutral | ― | -1.04 | 2.44% | 19.05% | 29.71% | -1786.79% |
* Financial Sector Average
ICMB
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.