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

• Market Cap: N/A
• Dividend Yield: 12.21%
• Average Volume (3M): 295.76K
• Price to Earnings (P/E): 10.2
• Beta (1Y): 0.34
• 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: 364,385
• 30 Day Avg. Volume: 295,756
• PEG Ratio: 0.11
• Price to Book (P/B): 0.89
• Price to Sales (P/S): 4.94
• P/FCF Ratio: -1.94
• Enterprise Value/Market Cap: 10.00T>
• Enterprise Value/Revenue: 11.40
• Enterprise Value/Gross Profit: 18.49
• Enterprise Value/Ebitda: 18.62
• 1Y Price Target: $15.50
• Price Target Upside: -0.39% Downside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): 1.65
• Revenue Forecast (FY): $215.82M

• Rating: 72 Outperform
• Price Target: $17.00 ▲(9.25% Upside)

Kayne Anderson BDC, Inc. scores well due to its strong valuation metrics and technical indicators, suggesting potential undervaluation and positive market momentum. The financial performance is stable but challenged by cash flow volatility, which is a concern. The earnings call and corporate events provide additional confidence in the company's strategic direction and management effectiveness.

Positive Factors

Strong Equity Position

A strong equity position with zero debt enhances financial stability and reduces leverage risk, supporting long-term growth and resilience.

Growth in Net Investment Income

Increasing net investment income indicates effective portfolio management and enhances the company's ability to generate returns, supporting sustainable growth.

Successful Private Placement

Successful private placements demonstrate strong investor confidence and provide capital for strategic initiatives, enhancing financial flexibility.

Negative Factors

Cash Flow Volatility

Volatile cash flows can strain liquidity and hinder operational flexibility, posing risks to financial stability and growth prospects.

Net Asset Value Decline

A decline in NAV reflects potential valuation challenges in the portfolio, which could impact investor confidence and future capital raising.

Negative Unrealized Losses

Unrealized losses indicate potential valuation issues in the portfolio, affecting perceived asset quality and long-term investment returns.

Kayne Anderson BDC, Inc. Business Overview & Revenue Model

Company Description

Kayne Anderson BDC, Inc. (KBDC) is a publicly traded business development company that focuses on providing financing solutions to private middle-market companies. The firm primarily invests in debt and equity securities of these companies, targeting sectors such as energy, infrastructure, and real estate. KBDC aims to generate attractive risk-adjusted returns for its shareholders by leveraging its industry expertise and established relationships within these sectors.

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

Kayne Anderson BDC, Inc. shows strong equity and low leverage with improving net margins. However, revenue volatility and negative cash flows in 2024 pose liquidity risks. The company needs to address operational cash flow challenges to sustain financial health.

Income Statement

Kayne Anderson BDC, Inc. has shown volatile revenue trends over the years, with a decline from 2023 to 2024. The gross profit margin remains high as total revenue equals gross profit, signifying efficient cost management. However, the net profit margin improved significantly in 2024, indicating better profitability despite negative EBIT, highlighting potential restructuring or non-operational income impacts.

Balance Sheet

The company maintains a strong equity position with zero debt in 2024, resulting in a healthy debt-to-equity ratio. The return on equity is positive, showcasing effective equity utilization, although it decreased compared to the previous year. The equity ratio remains strong, indicating financial stability and low leverage risk.

Cash Flow

There is a concerning decline in operating and free cash flows in 2024, turning negative despite positive financing activities. The operating cash flow to net income ratio is negative, suggesting challenges in converting income to cash. The free cash flow to net income ratio is also negative, indicating potential liquidity issues.

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: Positive
• Last Price: 15.56
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KBDC, the sentiment is Positive. The current price of 15.56 is above the 20-day moving average (MA) of 15.28, above the 50-day MA of 14.67, and above the 200-day MA of 14.77, indicating a bullish trend. The MACD of 0.20 indicates Positive momentum. The RSI at 64.40 is Neutral, neither overbought nor oversold. The STOCH value of 56.99 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for KBDC.

Kayne Anderson BDC, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
LIEN	75 Outperform	$249.43M	7.56	17.13%	12.52%	315.14%	116.85%
KBDC	72 Outperform	―	10.15	9.22%	12.21%	22.72%	-28.92%
GBDC	71 Outperform	$3.57B	9.56	9.42%	11.57%	24.12%	1.09%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
PNNT	59 Neutral	$394.39M	12.05	6.83%	15.97%	-3.09%	200.66%
TPVG	59 Neutral	$249.67M	7.34	9.43%	17.20%	206.13%	298.86%
TCPC	58 Neutral	$483.59M	-52.67	-1.15%	19.93%	-91.81%	78.46%

Kayne Anderson BDC, Inc. Corporate Events

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.

Kayne Anderson BDC to Announce Q3 Results Soon

On October 10, 2025, Kayne Anderson BDC, Inc. announced that it will release its third-quarter financial results on November 10, 2025, after market close, followed by an earnings conference call on November 11, 2025. This announcement is significant for stakeholders as it provides an opportunity to assess the company’s financial performance and strategic direction.

Kayne Anderson BDC Closes $200M Private Placement

On September 9, 2025, Kayne Anderson BDC, Inc. announced the successful closing of a $200 million private placement offering of senior unsecured notes, comprising Series C, D, and E Notes. The proceeds, expected to be funded on October 15, 2025, will be used to refinance existing debt and for general corporate purposes. The company also entered into interest rate swaps for Series D and E Notes to align interest rates with its predominantly floating rate loan portfolio, designating these swaps as hedging instruments in a qualifying hedge accounting relationship.