Chicago Atlantic BDC, Inc. (LIEN) Key Metrics
LIEN valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $208.6M
- Enterprise value
- $234.7M
- P/E (TTM)
- 6.6 10-yr median 10.1
- Forward P/E
- 6.3
- PEG ratio
- —
- Price / sales
- 3.5 10-yr median 6.1
- Price / book
- 0.8 10-yr median 0.6
- EV / EBITDA
- — 10-yr median 8.6
- Dividend yield
- 14.88% $1.36 a year
- Beta
- 0.30
LIEN key metrics, 2020–2025
Fiscal year ended December 31, 2025 · U.S. dollarsLIEN valuation Price multiples at each fiscal year-end price.
LIEN returns How much profit the business earns on the capital it uses.
LIEN per-share figures Results divided by the shares outstanding at year-end.
LIEN financial health Debt, liquidity and how easily interest is covered.
LIEN efficiency & capital use Working capital cycle and where the cash goes.
LIEN valuation history
LIEN returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
LIEN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
LIEN cash returned to shareholders
LIEN price vs earnings per share
LIEN key metrics
2020–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Valuation | ||||||
| Market capitalization | $235.7M | $126.0M | $52.5M | $54.4M | — | — |
| Enterprise value | $257.8M | $102.1M | $19.8M | $19.3M | — | — |
| P/E ratio | 7.1 | 13.1 | 7.1 | 31.8 | — | — |
| Price / sales | 4.3 | 7.0 | 5.2 | 13.4 | — | — |
| Price / book | 0.8 | 0.4 | 0.6 | 0.6 | — | — |
| Price / free cash flow | — | — | 9.1 | — | — | — |
| Price / operating cash flow | — | — | 9.1 | — | — | — |
| EV / sales | 4.7 | 5.7 | 2.0 | 4.8 | — | — |
| EV / EBITDA | 7.5 | 10.6 | 2.7 | 9.7 | — | — |
| EV / free cash flow | — | — | 3.5 | — | — | — |
| Earnings yield | 14.1% | 7.6% | 14.0% | 3.1% | — | — |
| Free cash flow yield | −8.7% | −4.0% | 11.0% | −92.2% | — | — |
| Dividend yield | 9.9% | 9.9% | 15.8% | — | — | — |
| Shareholder yield (dividends + buybacks) | 9.9% | 9.9% | 15.8% | — | — | — |
| Share price at fiscal year-end | $10.33 | $12.19 | $8.44 | $9.80 | — | — |
| Per share | ||||||
| Revenue per share | $2.38 | $1.74 | $1.61 | $0.73 | — | — |
| Earnings per share | $1.46 | $0.93 | $1.18 | $0.31 | — | — |
| Operating cash flow per share | −$0.90 | −$0.49 | $0.93 | −$9.04 | — | — |
| Free cash flow per share | −$0.90 | −$0.49 | $0.93 | −$9.04 | — | — |
| Cash per share | $0.13 | $2.31 | $5.25 | $6.33 | — | — |
| Book value per share | $13.30 | $29.12 | $13.77 | $15.58 | — | — |
| Tangible book value per share | $13.30 | $29.12 | $13.77 | $15.58 | — | — |
| Dividends per share | $1.02 | $1.20 | $1.33 | — | — | — |
| Capex per share | $0.00 | $0.00 | $0.00 | $0.00 | — | — |
| Debt per share | $1.10 | — | — | — | — | — |
| Shares outstanding | 22.8M | 10.3M | 6.2M | 5.6M | — | — |
| Change in shares outstanding | +120.6% | +66.4% | +12.0% | — | — | — |
| Returns & profitability | ||||||
| Return on equity (ROE) | 11.0% | 5.0% | 8.5% | 2.0% | −1.3% | — |
| Return on invested capital (ROIC) | 9.1% | 4.6% | 11.1% | 6.4% | — | — |
| Return on assets (ROA) | 10.2% | 4.8% | 8.4% | 2.0% | −1.3% | −346.9% |
| Return on tangible assets | 9.7% | 3.1% | 8.3% | 2.0% | −0.7% | −346.9% |
| Free cash flow margin | −37.7% | −28.0% | 57.3% | — | — | — |
| Income quality (OCF / net income) | −0.62 | −0.52 | 0.78 | −29.36 | — | — |
| Financial health | ||||||
| Total debt | $25.0M | — | — | — | — | — |
| Cash & short-term investments | $2.9M | $23.9M | $32.6M | $35.1M | $84.8M | — |
| Net debt | $22.1M | −$23.9M | −$32.6M | −$35.1M | −$84.8M | — |
| Debt / equity | 0.08 | — | — | — | — | — |
| Debt / assets | 0.07 | — | — | — | — | — |
| Net debt / EBITDA | 0.64 | −2.49 | −4.44 | −17.73 | — | — |
| Current ratio | 0.22 | 633.94 | 11.45 | 79.49 | 177.26 | — |
| Quick ratio | 0.22 | 633.94 | 11.45 | 79.49 | 177.26 | — |
| Interest coverage | 27.6 | — | — | — | — | — |
| Working capital | −$10.7M | $23.9M | $31.4M | $36.3M | $84.6M | — |
| Invested capital | $325.5M | $277.2M | $52.9M | $51.4M | −$213,970 | −$159,715 |
| Tangible asset value | $303.4M | $301.2M | $85.6M | $86.5M | $84.6M | −$159,715 |
| Net current asset value | −$35.7M | $15.5M | $31.4M | $36.2M | $84.6M | — |
| Graham number | $20.89 | $24.69 | $19.13 | $10.39 | — | — |
| Graham net-net per share | $102.81 | $2.23 | $4.97 | $6.45 | — | — |
| Capital allocation | ||||||
| Dividends paid | $23.3M | $12.4M | $8.3M | — | — | — |
| Dividend payout ratio | 69.9% | 129.1% | 112.6% | — | — | — |
| Dividends + buybacks / free cash flow | — | — | 143.7% | — | — | — |
| Capex / revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Capex / operating cash flow | — | — | 0.0% | — | — | — |
| Capex / depreciation | — | — | — | — | — | 0.00 |
| SG&A / revenue | 11,249.0% | 45.8% | 26.7% | 49.0% | 2,436.6% | — |
| Efficiency | ||||||
| Days sales outstanding | 10,706.4 | 120.0 | 60.3 | 70.7 | 333.9 | — |
| Days payables outstanding | 115.6 | 1.6 | — | — | — | — |
| Cash conversion cycle (days) | 10,590.9 | 118.4 | — | — | — | — |
| Receivables turnover | 0.03 | 3.04 | 6.05 | 5.16 | 1.09 | — |
| Payables turnover | 3.16 | 226.82 | 0.00 | — | — | — |
| Asset turnover | 0.17 | 0.09 | 0.11 | 0.05 | 0.00 | 0.00 |
| Average receivables | $1.59B | $5.9M | $1.7M | $784,148 | $9,215 | — |
| Average payables | $3.9M | $18,877 | $2 | — | — | — |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from LIEN's annual financial statements (latest annual report filed March 19, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
LIEN valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Chicago Atlantic BDC traded at 7.1 times earnings, against a 6-year median of 10.1. Based on the latest twelve months, the trailing P/E is 6.6 and the forward P/E is 6.3. Chicago Atlantic BDC earned a return on equity of 11.0% and a return on invested capital of 9.1% in fiscal 2025. It ended the year with $25.0 million of debt and $2.9 million in cash and short-term investments, net debt of $22.1 million. It returned $23.3 million to shareholders: $23.3 million in dividends and $0 in share buybacks.
See the LIEN income statement, the LIEN chart for price history, or the LIEN stock overview for the latest quote and news.
LIEN key metrics FAQ
What is Chicago Atlantic BDC's P/E ratio?
Chicago Atlantic BDC's trailing P/E ratio is 6.6 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 6.3. At the end of fiscal 2025 it was 7.1, compared with a 6-year median of 10.1.
What is Chicago Atlantic BDC's EV/EBITDA?
Chicago Atlantic BDC's enterprise value was 7.5 times EBITDA at the end of fiscal 2025 (enterprise value $257.8 million, EBITDA $34.5 million).
What is Chicago Atlantic BDC's return on equity?
Chicago Atlantic BDC's return on equity (ROE) was 11.0% in fiscal 2025: net income of $33.3 million on average shareholders' equity of $302.3 million.
What is Chicago Atlantic BDC's ROIC?
Chicago Atlantic BDC's return on invested capital was 9.1% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Chicago Atlantic BDC have?
Chicago Atlantic BDC had total debt of $25.0 million at the end of fiscal 2025, a debt-to-equity ratio of 0.08 and $22.1 million of net debt (0.64 times EBITDA).
What is Chicago Atlantic BDC's dividend yield?
Chicago Atlantic BDC's forward dividend yield is 14.88%. Chicago Atlantic BDC paid $23.3 million in dividends in fiscal 2025 ($1.02 per share), a payout ratio of 69.9%.
What is Chicago Atlantic BDC's free cash flow yield?
Chicago Atlantic BDC generated -$20.5 million of free cash flow in fiscal 2025, a free cash flow yield of −8.7% on its market value at year-end ($235.7 million).
What is Chicago Atlantic BDC's current ratio?
Chicago Atlantic BDC's current ratio was 0.22 at the end of fiscal 2025: current assets were 0.22 times current liabilities.