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Kayne Anderson BDC, Inc. (KBDC)



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Upturn Advisory Summary
08/14/2025: KBDC (1-star) is currently NOT-A-BUY. Pass it for now.
1 Year Target Price $16.5
1 Year Target Price $16.5
2 | Strong Buy |
1 | Buy |
2 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 3.46% | Avg. Invested days 74 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 1.08B USD | Price to earnings Ratio 9.12 | 1Y Target Price 16.5 |
Price to earnings Ratio 9.12 | 1Y Target Price 16.5 | ||
Volume (30-day avg) 5 | Beta - | 52 Weeks Range 13.49 - 16.90 | Updated Date 08/15/2025 |
52 Weeks Range 13.49 - 16.90 | Updated Date 08/15/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) 1.68 |
Earnings Date
Report Date 2025-08-12 | When - | Estimate 0.4019 | Actual 0.4 |
Profitability
Profit Margin - | Operating Margin (TTM) - |
Management Effectiveness
Return on Assets (TTM) - | Return on Equity (TTM) - |
Valuation
Trailing PE 9.12 | Forward PE 9.54 | Enterprise Value - | Price to Sales(TTM) 9.43 |
Enterprise Value - | Price to Sales(TTM) 9.43 | ||
Enterprise Value to Revenue 18.37 | Enterprise Value to EBITDA - | Shares Outstanding 70577000 | Shares Floating - |
Shares Outstanding 70577000 | Shares Floating - | ||
Percent Insiders 27.11 | Percent Institutions 34.45 |
Upturn AI SWOT
Kayne Anderson BDC, Inc.
Company Overview
History and Background
Kayne Anderson BDC, Inc., formerly known as TCP Capital Corp., is a publicly traded business development company (BDC) founded in 2011. It focuses on providing financing solutions to middle-market companies. Significant milestones include its initial public offering (IPO) and subsequent growth through investments and acquisitions.
Core Business Areas
- Direct Lending: Provides senior secured loans, junior secured loans, and unitranche loans to middle-market companies. Focuses on generating current income and capital appreciation.
- Equity Investments: Makes strategic equity investments, often alongside debt investments, to participate in the growth potential of portfolio companies.
Leadership and Structure
The leadership team consists of seasoned investment professionals with experience in credit markets and private equity. The company operates with a board of directors that provides oversight and guidance.
Top Products and Market Share
Key Offerings
- Senior Secured Loans: Primarily offers first-lien senior secured loans to middle-market companies. Competitors include Ares Capital Corporation and Prospect Capital Corporation. Market share data is not directly disclosed in the annual report but competes in the BDC marketplace with an estimated percentage of the BDC market of about 2%.
- Unitranche Loans: Provides unitranche loans, which combine characteristics of senior and subordinated debt, to offer flexible financing solutions. Competitors include Golub Capital BDC and Owl Rock Capital Corporation. The company estimates about 15% of their portfolio are unitranche loans as of the most recent year end filings.
Market Dynamics
Industry Overview
The BDC industry is highly competitive, characterized by numerous firms seeking to provide financing to middle-market companies. Demand for capital is influenced by economic conditions, interest rates, and regulatory changes.
Positioning
Kayne Anderson BDC, Inc. positions itself as a provider of flexible financing solutions to middle-market companies. Its competitive advantages include its experienced investment team and established relationships with borrowers. The company focuses on investing in resilient and growing businesses, providing downside protection and attractive risk-adjusted returns.
Total Addressable Market (TAM)
The total addressable market for middle-market lending is estimated in the hundreds of billions of dollars annually. Kayne Anderson BDC, Inc. is positioned to capture a portion of this market through its targeted lending strategies and relationships.
Upturn SWOT Analysis
Strengths
- Experienced management team
- Diversified investment portfolio
- Strong underwriting standards
- Established relationships with borrowers
- Proven track record of generating attractive risk-adjusted returns
Weaknesses
- Reliance on external management
- Exposure to interest rate fluctuations
- Credit risk associated with middle-market lending
- Potential for regulatory changes affecting BDCs
- Market competition.
Opportunities
- Expanding investment portfolio through strategic acquisitions
- Increasing market share in the middle-market lending space
- Capitalizing on favorable interest rate environments
- Diversifying funding sources
- Entering new markets or industries
Threats
- Economic downturns leading to increased defaults
- Rising interest rates impacting borrower's ability to repay debt
- Increased competition from other BDCs and alternative lenders
- Changes in regulations impacting BDC operations
- Geopolitical risks and market volatility
Competitors and Market Share
Key Competitors
- ARCC
- ORCC
- BXSL
Competitive Landscape
Kayne Anderson BDC, Inc. faces intense competition from larger and more established BDCs. The company differentiates itself through its industry expertise, underwriting discipline, and focus on building long-term relationships with borrowers.
Growth Trajectory and Initiatives
Historical Growth: Kayne Anderson BDC, Inc. has experienced moderate growth in its investment portfolio over the past years, driven by increased lending activity. However, earnings have been volatile.
Future Projections: Analyst estimates suggest continued growth in the BDC's investment portfolio, but earnings projections are uncertain due to market conditions. Recent reports give a buy rating with a target price of around $14 per share.
Recent Initiatives: Recent initiatives include expanding its lending relationships, focusing on sectors such as healthcare and technology, and optimizing its capital structure.
Summary
Kayne Anderson BDC, Inc. is a player in the BDC industry. Strengths include an experienced management team and diversified portfolio, but weaknesses include reliance on external management and exposure to interest rate risk. Opportunities lie in portfolio expansion and market share growth, while threats include economic downturns and increased competition. Overall, the company's future performance is dependent on its ability to navigate a competitive market and maintain strong underwriting standards.
Peer Comparison
Sources and Disclaimers
Data Sources:
- SEC filings
- Company website
- Analyst reports
Disclaimers:
The information provided is for informational purposes only and should not be considered investment advice. Past performance is not indicative of future results. Market share data is based on estimated percentages within the BDC marketplace and does not represent precise figures. Investors should conduct their own due diligence before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Kayne Anderson BDC, Inc.
Exchange NYSE | Headquaters Houston, TX, United States | ||
IPO Launch date 2024-05-22 | Co-CEO & Co-Chief Investment Officer Mr. Douglas L. Goodwillie | ||
Sector Financial Services | Industry Asset Management | Full time employees - | Website https://kaynebdc.com |
Full time employees - | Website https://kaynebdc.com |
Kayne Anderson BDC, Inc. is business development company and an externally managed, closed-end, non-diversified management investment company that intends to elect to be regulated as a BDC under the 1940 Act. The fund seeks to make investments in middle-market companies. It also makes debt investments in middle-market companies and investing primarily in first lien senior secured, unitranche, and split-lien loans to privately held middle-market companies. The fund considers between 80% and 90% of its portfolio (including investments purchased with proceeds from borrowings) will be invested in first lien senior secured, unitranche and split-lien term loans. The remaining 10% to 20% of its portfolio will be invested in higher-yielding investments, including, but not limited to, second lien loans, last-out or subordinated loans, non-investment grade broadly syndicated leveraged loans, high-yield bonds, structured products (including CLO liabilities), real estate related debt securities, equity securities purchased in conjunction with debt investments and other opportunistic investments.

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