Kayne Anderson BDC, Inc. (KBDC) Income Statement
KBDC 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsKBDC revenue and net income
Where KBDC's revenue goes
2025Each bar shows an amount and its share of revenue. KBDC kept 39.7% of revenue as net income.
KBDC profit margins
KBDC growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +29.9% | +50.9% | — | — |
| Gross profit | +60.6% | +58.0% | — | — |
| Operating income | +29.5% | +55.4% | — | — |
| Net income | −29.0% | +27.0% | — | — |
| EPS (diluted) | −22.9% | +31.2% | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
KBDC quarterly EPS vs estimates
Kayne Anderson BDC beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 5, 2026 (estimate $0.38).
KBDC income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Revenue | $235.8M | $181.6M | $132.4M | $68.6M | $28.8M |
| Cost of revenue | $37.0M | $57.8M | $49.6M | $18.2M | $4.2M |
| Gross profit | $198.8M | $123.8M | $82.8M | $50.4M | $24.6M |
| Research & development | — | — | $1 | $1 | $1 |
| Sales, general & admin | $3.8M | $4.3M | $5.8M | $2.5M | $1.8M |
| Total operating expenses | $27.1M | −$8.9M | $5.7M | $4.6M | $2.3M |
| Operating income | $171.7M | $132.7M | $77.1M | $45.8M | $22.3M |
| Interest income | $234.8M | $211.6M | $160.4M | $74.8M | $18.8M |
| Interest expense | $76.4M | $57.8M | $49.6M | $18.2M | $4.2M |
| Income before taxes | $95.4M | $132.7M | $77.1M | $45.8M | $22.3M |
| Income taxes | $1.7M | $717,000 | $129.4M | $66.1M | $26.7M |
| Net income | $93.7M | $131.9M | $77.1M | $45.8M | $22.3M |
| EBITDA | $171.7M | $132.7M | $77.1M | $45.8M | $22.3M |
| EPS (diluted) | $1.58 | $2.05 | $1.08 | $0.70 | $0.58 |
| Gross margin | 84.3% | 68.2% | 62.5% | 73.5% | 85.4% |
| Operating margin | 72.8% | 73.1% | 58.2% | 66.7% | 77.5% |
| Net margin | 39.7% | 72.7% | 58.2% | 66.7% | 77.5% |
| 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 | $43.5M | $46.1M | $61.3M | $46.4M | $44.0M | $39.7M | $48.4M | $48.0M | $40.9M | $44.3M | $37.6M | $28.4M |
| Cost of revenue | $7.5M | $8.5M | $9.5M | $19.2M | $17.4M | $16.2M | $15.6M | $15.1M | $12.3M | $14.8M | $13.2M | $13.1M |
| Gross profit | $36.0M | $37.5M | $51.7M | $27.1M | $26.5M | $23.5M | $32.8M | $32.8M | $28.6M | $29.5M | $24.4M | $15.3M |
| Sales, general & admin | $913.0M | $1.0M | $482,000 | $1.1M | $1.1M | $1.1M | $1.2M | $1.1M | $1.0M | $882,000 | $744,000 | $681,000 |
| Total operating expenses | $5.7M | $1.0M | $8.8M | $2.1M | $1.3M | $722,000 | −$3.3M | −$4.7M | −$2.6M | $1.8M | $1.6M | $1.4M |
| Operating income | $30.3M | $36.5M | $42.9M | $25.0M | $25.2M | $22.8M | $36.2M | $37.6M | $31.2M | $27.8M | $22.8M | $13.9M |
| Interest income | $55.3M | $57.0M | $61.7M | $61.0M | $57.1M | $55.0M | $55.9M | $57.5M | $52.0M | $46.2M | $42.5M | $41.0M |
| Interest expense | $19.6M | $18.9M | $20.6M | $19.2M | $17.4M | $16.2M | $15.6M | $15.1M | $12.3M | $14.8M | $13.2M | $13.1M |
| Income before taxes | $10.7M | $17.2M | $22.3M | $25.0M | $25.2M | $22.8M | $35.4M | $37.6M | $31.2M | $27.8M | $22.8M | $13.9M |
| Income taxes | $21,000 | $7,000 | $331,000 | $428,000 | $318,000 | $538,000 | $717,000 | — | — | — | — | — |
| Net income | $10.7M | $17.2M | $22.0M | $24.6M | $24.9M | $22.2M | $35.4M | $37.6M | $31.2M | $27.8M | $22.8M | $13.9M |
| EBITDA | $30.3M | $36.5M | $42.9M | $25.0M | $25.2M | $22.8M | $36.2M | $37.6M | $31.2M | $27.8M | $22.8M | $13.9M |
| EPS (diluted) | $0.42 | $0.43 | $0.44 | $0.43 | $0.40 | $0.31 | $0.50 | $0.52 | $0.51 | $0.52 | — | — |
| Gross margin | 82.9% | 81.5% | 84.4% | 58.5% | 60.3% | 59.2% | 67.8% | 68.5% | 69.9% | 66.7% | 65.0% | 53.8% |
| Operating margin | 69.8% | 79.2% | 70.1% | 54.0% | 57.4% | 57.3% | 74.7% | 78.3% | 76.3% | 62.7% | 60.7% | 48.8% |
| Net margin | 24.6% | 37.4% | 35.8% | 53.1% | 56.7% | 56.0% | 73.2% | 78.3% | 76.3% | 62.7% | 60.7% | 48.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in KBDC's financial statements (latest annual report filed March 2, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
KBDC financial results
In fiscal year 2025 (ended December 31, 2025), Kayne Anderson BDC reported revenue of $235.8 million, up 29.9% from the year before. It had net income of $93.7 million (down 29.0%), a net profit margin of 39.7%. Diluted earnings per share came to $1.58.
See the KBDC stock overview for the latest quote and news, or the KBDC chart for price history and technical indicators.
KBDC income statement FAQ
What is Kayne Anderson BDC's annual revenue?
Kayne Anderson BDC reported total revenue of $235.8 million for fiscal year 2025, which ended on December 31, 2025. That was up 29.9% from $181.6 million the previous year.
Is Kayne Anderson BDC profitable?
Yes. Kayne Anderson BDC reported net income of $93.7 million in fiscal 2025, a net profit margin of 39.7%; its operating margin was 72.8%.
What is Kayne Anderson BDC's gross margin?
Kayne Anderson BDC's gross margin was 84.3% in fiscal 2025: for every $100 of revenue, Kayne Anderson BDC kept $84 after the direct cost of its products and services.
What are Kayne Anderson BDC's earnings per share?
Kayne Anderson BDC earned $1.58 per diluted share in fiscal 2025, compared with $2.05 a year earlier.
When will Kayne Anderson BDC report its next earnings?
Kayne Anderson BDC is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 after the market closes.
When does Kayne Anderson BDC's fiscal year end?
Kayne Anderson BDC's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 2, 2026.