Barings BDC, Inc. (BBDC) Income Statement
BBDC 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsBBDC revenue and net income
Where BBDC's revenue goes
2025Each bar shows an amount and its share of revenue. BBDC kept 41.0% of revenue as net income.
BBDC profit margins
BBDC growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +19.0% | +149.6% | +70.7% | +7.5% |
| Gross profit | +49.0% | +125.8% | — | +4.3% |
| Operating income | +86.3% | +49.9% | +91.5% | +8.0% |
| Net income | −7.6% | +179.2% | +65.6% | +7.9% |
| EPS (diluted) | −10.4% | 0.0% | +11.5% | −6.4% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
BBDC quarterly EPS vs estimates
Barings BDC beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 5, 2026 (estimate $0.27).
BBDC income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $248.8M | $209.1M | $289.2M | $16.0M | $86.8M | $17.2M | $65.7M | $80.2M | $123.0M | $113.7M |
| Cost of revenue | $64.7M | $85.5M | $64.7M | $36.1M | $34.3M | $40.0M | $80.28B | $80.42B | $129.3M | $70,108 |
| Gross profit | $184.1M | $123.6M | $289.2M | $16.0M | $86.8M | −$22.8M | −$80.22B | $80.2M | $123.0M | $113.7M |
| Research & development | — | — | $1 | $0 | $1 | $0 | $1 | — | — | — |
| Sales, general & admin | $7.8M | $9.8M | $74.7M | $9.9M | $9.1M | $5.8M | $6.9M | $28.8M | $21.5M | $21.1M |
| Total operating expenses | −$27.8M | $9.8M | $74.7M | $9.9M | $9.1M | $8.9M | $7.2M | $28.8M | $21.5M | $21.1M |
| Operating income | $212.0M | $113.8M | $214.5M | $63.0M | $77.7M | $8.2M | $58.5M | $51.4M | $101.5M | $92.6M |
| Interest income | $210.3M | $228.1M | $238.9M | $174.0M | $113.4M | $66.9M | $73.5M | $74.2M | $109.7M | $103.0M |
| Interest expense | $85.1M | $85.5M | $84.7M | $56.9M | $33.0M | $19.8M | $26.1M | $23.9M | $29.3M | $26.7M |
| Income before taxes | $105.8M | $113.8M | $129.7M | $6.1M | $77.7M | $8.2M | $58.5M | −$115.2M | −$27.8M | $34.7M |
| Income taxes | $3.9M | $3.5M | $1.7M | $1.4M | $8,339 | $52,890 | $340,330 | −$932,172 | $871,410 | $435,245 |
| Net income | $101.9M | $110.3M | $128.0M | $4.7M | $77.7M | $8.2M | $58.2M | −$114.3M | −$28.7M | $34.3M |
| EBITDA | $196.2M | $113.8M | $214.5M | $184.8M | $60.4M | $18.4M | $58.5M | $51.5M | $101.6M | $92.7M |
| EPS (diluted) | $1.12 | $1.25 | $1.18 | $1.12 | $0.90 | $0.65 | $0.62 | $0.05 | $1.56 | $1.62 |
| Gross margin | 74.0% | 59.1% | 100.0% | 100.0% | 100.0% | −132.9% | −122,075.2% | 100.0% | 100.0% | 100.0% |
| Operating margin | 85.2% | 54.4% | 74.2% | 393.4% | 89.5% | 48.0% | 89.1% | 64.1% | 82.5% | 81.5% |
| Net margin | 41.0% | 52.7% | 44.3% | 29.2% | 89.5% | 47.6% | 88.6% | −142.5% | −23.3% | 30.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $83.7M | $52.2M | $49.7M | $71.0M | $45.8M | $54.9M | $50.2M | $48.0M | $42.9M | $69.8M | $75.8M | $70.8M |
| Cost of revenue | $12.9M | $13.0M | $21.2M | $14.0M | $22.2M | $20.2M | $21.1M | $22.6M | $20.8M | $16.4M | $16.1M | $12.9M |
| Gross profit | $70.8M | $39.2M | $28.5M | $57.0M | $23.7M | $34.7M | $29.1M | $25.5M | $22.1M | $69.8M | $75.8M | $70.8M |
| Sales, general & admin | $1.9M | $2.3M | $1.9M | $15.9M | $2.3M | $1.7M | $2.4M | $2.4M | $2.3M | $19.1M | $18.5M | $15.3M |
| Total operating expenses | $32.6M | $1.5M | $1.9M | $9.1M | $2.3M | $1.7M | $2.4M | $2.4M | $2.3M | $19.1M | $18.5M | $15.3M |
| Operating income | $38.3M | $37.7M | $26.6M | $47.9M | $21.4M | $33.0M | $26.7M | $23.1M | $19.8M | $50.7M | $57.3M | $55.5M |
| Interest income | $47.5M | $46.0M | $51.1M | $54.2M | $54.9M | $50.1M | $54.2M | $56.7M | $59.4M | $57.9M | $62.4M | $59.7M |
| Interest expense | $19.9M | $18.9M | $21.2M | $21.5M | $22.2M | $20.2M | $21.1M | $22.6M | $20.8M | $21.1M | $22.8M | $21.8M |
| Income before taxes | $19.8M | $20.4M | $26.6M | $24.9M | $21.4M | $33.0M | $26.7M | $23.1M | $19.8M | $44.3M | $30.9M | $18.5M |
| Income taxes | $1.5M | $400,000 | $1.3M | $1.3M | $808,000 | $401,000 | $1.9M | $1.0M | $315,000 | $250,000 | $1.0M | $150,000 |
| Net income | $18.3M | $20.0M | $25.2M | $23.6M | $20.6M | $32.6M | $24.8M | $22.0M | $19.4M | $44.0M | $29.9M | $18.3M |
| EBITDA | $38.3M | $40.9M | $28.2M | $47.7M | $31.4M | $34.2M | $26.7M | $23.1M | $19.8M | $50.7M | $57.3M | $55.5M |
| EPS (diluted) | $0.28 | $0.25 | $0.27 | $0.32 | $0.28 | $0.25 | $0.28 | $0.29 | $0.40 | $0.28 | $0.31 | $0.31 |
| Gross margin | 84.6% | 75.1% | 57.3% | 80.2% | 51.6% | 63.2% | 58.0% | 53.0% | 51.5% | 100.0% | 100.0% | 100.0% |
| Operating margin | 45.7% | 72.1% | 53.5% | 67.4% | 46.6% | 60.1% | 53.2% | 48.0% | 46.1% | 72.6% | 75.6% | 78.4% |
| Net margin | 21.9% | 38.3% | 50.8% | 33.2% | 44.9% | 59.4% | 49.5% | 45.8% | 45.3% | 63.0% | 39.4% | 25.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in BBDC's financial statements (latest annual report filed February 19, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
BBDC financial results
In fiscal year 2025 (ended December 31, 2025), Barings BDC reported revenue of $248.8 million, up 19.0% from the year before. It had net income of $101.9 million (down 7.6%), a net profit margin of 41.0%. Diluted earnings per share came to $1.12. Over five years revenue grew at an average rate of 70.7% a year.
See the BBDC stock overview for the latest quote and news, or the BBDC chart for price history and technical indicators.
BBDC income statement FAQ
What is Barings BDC's annual revenue?
Barings BDC reported total revenue of $248.8 million for fiscal year 2025, which ended on December 31, 2025. That was up 19.0% from $209.1 million the previous year.
Is Barings BDC profitable?
Yes. Barings BDC reported net income of $101.9 million in fiscal 2025, a net profit margin of 41.0%; its operating margin was 85.2%.
What is Barings BDC's gross margin?
Barings BDC's gross margin was 74.0% in fiscal 2025: for every $100 of revenue, Barings BDC kept $74 after the direct cost of its products and services.
How fast is Barings BDC growing?
Revenue grew 70.7% a year on average over the last five fiscal years, from $17.2 million to $248.8 million.
What are Barings BDC's earnings per share?
Barings BDC earned $1.12 per diluted share in fiscal 2025, compared with $1.25 a year earlier.
When will Barings BDC report its next earnings?
Barings BDC is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 after the market closes.
When does Barings BDC's fiscal year end?
Barings BDC's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 19, 2026.