Kayne Anderson BDC, Inc. (KBDC) AI Stock Analysis

• Market Cap: N/A
• Dividend Yield: 13%
• Average Volume (3M): 332.53K
• Price to Earnings (P/E): 9.4
• Beta (1Y): 0.35
• Revenue Growth: 22.72%
• EPS Growth: -28.92%
• Country: US
• Employees: N/A
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): 0.43
• Shares Outstanding: 68,395,750
• 10 Day Avg. Volume: 246,090
• 30 Day Avg. Volume: 332,531
• PEG Ratio: 0.11
• Price to Book (P/B): 0.89
• Price to Sales (P/S): 5.81
• P/FCF Ratio: 10.04
• Enterprise Value/Market Cap: -10.00T>
• Enterprise Value/Revenue: -86.26
• Enterprise Value/Gross Profit: -139.99
• Enterprise Value/Ebitda: -140.96
• 1Y Price Target: $15.63
• Price Target Upside: 10.30% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 61 Neutral
• Price Target: $15.50 ▲(9.39% Upside)

The score is held back primarily by financial-statement risk signals—especially the sharp TTM revenue/margin deterioration and inconsistent TTM balance sheet figures. Valuation is a key offset (low P/E and high yield), and the earnings call was broadly constructive on income, credit quality, and dividend coverage. Technicals remain slightly bearish, limiting near-term momentum.

Positive Factors

Dividend Coverage / Cash Generation

A 108% dividend coverage ratio and undistributed net investment income (~$0.16/sh) indicate the company is currently generating more investment income than it pays out. That sustained cash coverage supports dividend durability over multiple quarters and signals underlying interest income strength.

Strategic Portfolio Repositioning and Origination Growth

Active repositioning away from legacy BSL positions into private credit, coupled with materially higher fundings (gross new private credit investments rose 48% YoY), reflects a deliberate shift to higher-yielding, originator-led assets that can sustainably lift yields and NII over the medium term.

Diversified Funding Sources

Successfully placing $200m of unsecured notes and broadening funding channels reduces reliance on any single source and supports targeted leverage (long-term target 1x–1.25x). Strong access to capital enhances the firm's ability to deploy into private credit and manage liquidity across cycles.

Negative Factors

TTM Revenue and Margin Deterioration

A sharp trailing-twelve-month decline in revenue and collapse to near-zero margins materially weakens earnings quality and reduces buffer for dividends. Persistent margin erosion would undermine long-term cash generation and make dividend policy and capital deployment more vulnerable to shocks.

Inconsistent TTM Balance Sheet Readings

Abrupt, inconsistent TTM balance-sheet changes impede reliable assessment of leverage and capital structure. This uncertainty hampers investors' ability to judge financial flexibility, credit risk and true leverage, increasing governance and reporting risk over the medium term.

Volatile Cash Flow and Weak Coverage Metrics

Irregular cash conversion and episodic weak operating cash coverage create uncertainty about sustainable free cash flow. Volatility in cash flows can force reliance on capital markets or NAV realizations to fund dividends or new investments, raising medium-term funding and payout risk.

Kayne Anderson BDC, Inc. Business Overview & Revenue Model

Company Description

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.

How the Company Makes Money

KBDC generates revenue primarily through interest income from its debt investments and dividend income from its equity investments in portfolio companies. The company typically invests in secured and unsecured debt, including senior loans, subordinated debt, and preferred equity. Additionally, KBDC may earn fees from advisory services or transactional activities related to its investments. Key revenue streams include interest payments from borrowers, capital gains from the sale of investments, and management fees from overseeing the capital allocation. The company’s partnerships with private equity firms and financial institutions also enhance its investment opportunities and access to potential revenue-generating deals.

Kayne Anderson BDC, Inc. Financial Statement Overview

Summary

Annual profitability and growth through 2024 were strong with generally supportive cash generation, but confidence is capped by sharp TTM deterioration (material revenue decline and near-zero margins) and unusually inconsistent TTM balance sheet readings that raise earnings-quality and comparability/reliability concerns.

Income Statement

Annual results show very strong profitability, with high net margins across 2022–2024 and solid revenue growth through 2024. However, the TTM (Trailing-Twelve-Months) profile deteriorates sharply: revenue declines materially and reported margins collapse to near-zero levels versus prior years, signaling a major earnings-quality/volatility concern and weakening momentum.

Balance Sheet

Leverage looks manageable in the latest annual period, with debt at a moderate level relative to equity (2024 debt-to-equity ~0.71), supporting balance-sheet flexibility. That said, the balance sheet shows large inconsistencies in the TTM (Trailing-Twelve-Months) figures (including an abrupt shift to zero debt and a massive jump in equity/assets), and returns on equity fall to very low levels in TTM, which raises reliability and performance concerns.

Cash Flow

Cash generation is generally supportive: free cash flow matches net income across periods and TTM (Trailing-Twelve-Months) free cash flow growth is exceptionally strong. Offsetting this, cash flow trend is not consistently positive (2024 free cash flow declines year over year), and some coverage metrics are weak/erratic (including a very negative 2024 operating cash flow coverage reading), pointing to volatility in cash conversion and underlying drivers.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	178.43M	181.56M	132.40M	68.57M	28.76M
Gross Profit	109.94M	123.76M	82.78M	50.40M	24.56M
EBITDA	109.19M	132.66M	77.08M	45.77M	22.29M
Net Income	107.19M	131.94M	77.08M	45.77M	22.29M
Balance Sheet
Total Assets	2.34T	2.08B	1.42B	1.19B	586.46M
Cash, Cash Equivalents and Short-Term Investments	16.36B	22.38M	46.87M	8.53M	2.04M
Total Debt	0.00	848.13M	689.32M	571.59M	266.33M
Total Liabilities	1.20T	896.32M	740.61M	602.35M	274.50M
Stockholders Equity	1.14T	1.19B	683.06M	592.04M	311.97M
Cash Flow
Free Cash Flow	83.52M	105.03M	79.85M	46.11M	9.47M
Operating Cash Flow	83.52M	105.03M	79.85M	46.11M	9.47M
Investing Cash Flow	-311.14M	-649.53M	-189.91M	-587.88M	-568.61M
Financing Cash Flow	204.90M	532.81M	135.60M	548.26M	561.16M

Kayne Anderson BDC, Inc. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 14.17
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KBDC, the sentiment is Negative. The current price of 14.17 is below the 20-day moving average (MA) of 14.55, below the 50-day MA of 14.88, and below the 200-day MA of 14.72, indicating a bearish trend. The MACD of -0.16 indicates Positive momentum. The RSI at 40.27 is Neutral, neither overbought nor oversold. The STOCH value of 8.42 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for KBDC.

Kayne Anderson BDC, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TPVG	69 Neutral	$240.78M	7.08	9.43%	17.28%	206.13%	298.86%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
LIEN	64 Neutral	$239.39M	7.25	17.13%	13.03%	315.14%	116.85%
GBDC	62 Neutral	$3.53B	9.46	9.42%	11.70%	24.12%	1.09%
KBDC	61 Neutral	―	9.37	9.22%	13.00%	22.72%	-28.92%
PNNT	54 Neutral	$380.68M	11.63	6.83%	16.61%	-3.09%	200.66%
TCPC	50 Neutral	$439.48M	-48.55	-1.15%	21.13%	-91.81%	78.46%

Kayne Anderson BDC, Inc. Corporate Events

Kayne Anderson BDC Schedules Upcoming Q4 2025 Earnings Release

On January 15, 2026, Kayne Anderson BDC, Inc. announced that it will release its financial results for the fourth quarter ended December 31, 2025 after U.S. markets close on March 2, 2026, and will discuss the figures on an earnings conference call scheduled for the morning of March 3, 2026. The planned release and call underscore the company’s regular financial reporting cadence and provide debt and equity investors in the middle-market credit space an upcoming checkpoint on portfolio performance and income generation trends, with a replay available through March 10, 2026 for stakeholders who cannot attend live.

The most recent analyst rating on (KBDC) stock is a Hold with a $15.50 price target. To see the full list of analyst forecasts on Kayne Anderson BDC, Inc. stock, see the KBDC Stock Forecast page.

Kayne Anderson BDC Appoints New President and VP

On November 10, 2025, Kayne Anderson BDC, Inc. announced the appointment of Frank P. Karl as President and Andy Wedderburn-Maxwell as Senior Vice President, highlighting their extensive experience in investment banking and asset management. Additionally, the company declared a fourth-quarter 2025 dividend of $0.40 per share, payable on January 16, 2026, and reported strong financial results for the quarter ended September 30, 2025, with net investment income of $30 million and a net funded private credit and equity investment increase of $200.1 million. Despite market volatility, the company remains defensively positioned with a high-quality earnings mix and a strong portfolio performance.

The most recent analyst rating on (KBDC) stock is a Buy with a $16.00 price target. To see the full list of analyst forecasts on Kayne Anderson BDC, Inc. stock, see the KBDC Stock Forecast page.