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

Established on February 5, 2021, Kayne Anderson BDC, Inc. is a closed-end, non-diversified management investment company that operates as an externally managed business development company. The firm targets middle-market companies predominantly operating within the United States. Its primary objective is generating current income, alongside a secondary objective of capital appreciation. Under normal market conditions, KBDC seeks to invest at least 90% of its portfolio in debt instruments, primarily first lien senior secured loans, as well as unitranche and split-lien loans. These investments typically feature stated maturities ranging from three to six years, sourced via Kayne Anderson's middle market private credit platform.

KBDC increased revenue from $28.8M in FY2021 to $235.8M in FY2025, representing a 4-year revenue CAGR of 69.2%. Annual revenue expanded 138.5% in FY2022, 93.1% in FY2023, 37.1% in FY2024, and 29.9% in FY2025. Operating margin was 77.5% in FY2021, 66.7% in FY2022, 58.2% in FY2023, 73.1% in FY2024, and 72.8% in FY2025. Net income peaked at $131.9M in FY2024 with an EPS of $2.05, before shifting to $93.7M with an EPS of $1.58 and a net margin of 39.7% in FY2025. For the trailing twelve months ending June 30, 2026, EPS stood at $1.09.

As of June 30, 2026, KBDC reported cash and short-term investments of $14.52B against total debt of $1.22B, resulting in net cash of $13.30B. Shareholders' equity was $1.06B, total assets were $2.34B, and the current ratio stood at 1137.24 with a debt-to-equity ratio of 1.15. Free cash flow was -$98.7M in FY2025, compared to $105.0M in FY2024. In FY2025, capital deployment included $48.0M dedicated to share buybacks and $123.3M distributed in dividends.

KBDC trades at a trailing P/E of 11.4x and a forward P/E of 8.4x, below the median of its US-listed Financial Services peers of 12.1x and 10.8x, respectively. The company carries a price-to-book ratio of 0.8x and a price-to-sales multiple of 10.5x, compared to the peer median price-to-sales of 3.2x. Over the past year, KBDC delivered a return of 1.8%, while the S&P 500 benchmark gained 16.8%. The stock traded at $12.43 as of October 16, 2026, which is 5.3% below its 200-day moving average.

KBDC pays a quarterly dividend with an annual forward dividend rate of $1.60, delivering a dividend yield of 12.87%. The payout ratio stands at 93.0%. The company has paid dividends for 3 consecutive years, and its most recent ex-dividend date was September 30, 2026.

Wall Street analysts hold 1 Strong Buy, 2 Buy, and 2 Hold ratings on KBDC, with no Sell or Strong Sell ratings. The mean price target is $14.50, representing a 16.7% upside over the last close of $12.43. For the fiscal year ending December 31, 2026, consensus estimates project revenue of $228.1M and EPS of $1.62, representing an EPS decline of 2.7%. For the following fiscal year, 5 analysts project revenue of $233.8M and EPS of $1.57. KBDC beat EPS estimates in 3 of the last 4 quarters, with next earnings scheduled for November 5, 2026.

This page is an AI-written research summary of Kayne Anderson BDC, Inc. (KBDC). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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