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LIEN 
Chicago Atlantic BDC, Inc. (LIEN)
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Upturn Advisory Summary
12/05/2025: LIEN (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Number of Analysts
1 Analysts rated it
Very few follow this stock; limited insights, higher-risk early investing.
1 Year Target Price $11
1 Year Target Price $11
| 0 | Strong Buy |
| 0 | Buy |
| 1 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 1.86% | Avg. Invested days 40 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating | Upturn Advisory Performance  2.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 12/05/2025 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 243.72M USD | Price to earnings Ratio 6.07 | 1Y Target Price 11 |
Price to earnings Ratio 6.07 | 1Y Target Price 11 | ||
Volume (30-day avg) 1 | Beta 0.21 | 52 Weeks Range 9.11 - 11.77 | Updated Date 12/6/2025 |
52 Weeks Range 9.11 - 11.77 | Updated Date 12/6/2025 | ||
Dividends yield (FY) 12.84% | Basic EPS (TTM) 1.76 |
Earnings Date
Report Date 2025-11-13 | When - | Estimate 0.355 | Actual 0.42 |
Profitability
Profit Margin 62.61% | Operating Margin (TTM) 63.71% |
Management Effectiveness
Return on Assets (TTM) 9.75% | Return on Equity (TTM) 17.13% |
Valuation
Trailing PE 6.07 | Forward PE 7.23 | Enterprise Value 233261536 | Price to Sales(TTM) 4.62 |
Enterprise Value 233261536 | Price to Sales(TTM) 4.62 | ||
Enterprise Value to Revenue 6.44 | Enterprise Value to EBITDA - | Shares Outstanding 22820590 | Shares Floating - |
Shares Outstanding 22820590 | Shares Floating - | ||
Percent Insiders 0.46 | Percent Institutions 29.67 |
Upturn AI SWOT
Chicago Atlantic BDC, Inc.
Company Overview
History and Background
Chicago Atlantic BDC, Inc. was founded in 2021 and focuses on providing debt financing to state-licensed cannabis operators. It went public on December 9, 2021. The company aims to capitalize on the growth of the cannabis industry by offering financing solutions to businesses that may have limited access to traditional banking services.
Core Business Areas
- Debt Financing: Provides senior secured credit for cannabis operators, including term loans and revolving credit facilities.
Leadership and Structure
John Mazarakis is the Chairman and CEO. The company operates with a management team overseeing investment decisions and portfolio management, structured as a BDC regulated under the Investment Company Act of 1940.
Top Products and Market Share
Key Offerings
- Senior Secured Loans: Provides first lien loans to cannabis companies to finance expansion, acquisitions, and operations. Market share data is difficult to ascertain due to the fragmented nature of cannabis lending. Competitors include AFC Gamma and Innovative Industrial Properties, though they focus more on real estate.
Market Dynamics
Industry Overview
The cannabis industry is experiencing rapid growth with increasing legalization across states, though still federally illegal. This creates a unique lending environment with limited access to traditional banking.
Positioning
Chicago Atlantic BDC positions itself as a specialized lender within the cannabis industry, targeting operators with strong licenses and proven track records. Its competitive advantage is its expertise in cannabis lending and its ability to offer flexible financing solutions.
Total Addressable Market (TAM)
Estimates vary, but the cannabis market is projected to reach hundreds of billions of dollars in the coming years. Chicago Atlantic BDC is positioned to capture a portion of the debt financing needs of this growing market. However, TAM is contingent on legalization status.
Upturn SWOT Analysis
Strengths
- Specialized expertise in cannabis lending
- Strong origination platform
- High yields on loans
- Experienced management team
Weaknesses
- Concentrated industry focus (cannabis)
- Regulatory risk (federal illegality of cannabis)
- Relatively short operating history
- Smaller size compared to other BDCs
Opportunities
- Expansion into new cannabis markets (states legalizing cannabis)
- Increase in loan volume
- Diversification into related industries
- Potential for higher valuations as industry matures
Threats
- Changes in cannabis regulations (federal legalization could increase competition)
- Economic downturn impacting cannabis businesses
- Increased competition from other lenders
- Borrower defaults
Competitors and Market Share
Key Competitors
- AFCG
- IIPR
Competitive Landscape
Chicago Atlantic BDC competes with other specialty finance companies and cannabis lenders. Its focus on senior secured debt differentiates it to some extent. AFC Gamma focuses on providing financing solutions to established cannabis operators. Innovative Industrial Properties focuses on owning and leasing real estate to cannabis companies.
Growth Trajectory and Initiatives
Historical Growth: Track loan originations and portfolio growth over time.
Future Projections: Refer to analyst estimates for revenue and earnings growth.
Recent Initiatives: Monitor new loan originations, fundraising activities, and strategic partnerships.
Summary
Chicago Atlantic BDC is a specialized lender focusing on the cannabis industry. Its strength lies in its expertise and high yields, but it faces regulatory risks and industry concentration. The company needs to diversify its portfolio and carefully manage credit risk in a volatile industry. Future growth depends on the expansion of the cannabis market and the company's ability to maintain its competitive edge.
Similar Stocks
Sources and Disclaimers
Data Sources:
- SEC Filings (10-K, 10-Q), Company Website, Analyst Reports
Disclaimers:
This analysis is for informational purposes only and does not constitute financial advice. Investment decisions should be made based on individual circumstances and consultation with a qualified financial advisor. Market share data is based on available information and may not be precise.
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 Chicago Atlantic BDC, Inc.
Exchange NASDAQ | Headquaters New York, NY, United States | ||
IPO Launch date 2022-02-04 | CEO - | ||
Sector Financial Services | Industry Asset Management | Full time employees - | Website |
Full time employees - | Website | ||
Silver Spike Investment Corp., is a a business development company. It is a specialty finance company, focuses on investing across the cannabis ecosystem through investments in the form of direct loans to, and equity ownership of, privately held cannabis companies. It intends to partner with private equity firms, entrepreneurs, business owners, and management teams to provide credit and equity financing alternatives to support buyouts, recapitalizations, growth initiatives, refinancings, and acquisitions across cannabis companies, including cannabis-enabling technology companies, cannabis-related health and wellness companies, and hemp and CBD distribution companies. The company was founded in 2021 and is based in New York, New York.
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