Présentation de l'entreprise
Crescent Capital BDC, Inc. operates as a business development company that functions within the private equity, buyout, and loan fund sectors, specializing in direct investments across the middle market in the United States. The entity is categorized within the Financial Services sector and specifically serves the Asset Management industry, a classification that signifies its role in managing capital and deploying funds for external portfolio companies rather than producing goods or services internally. The company currently holds a market capitalization of $463.23M and reports a trailing twelve-month revenue of $167.28M, while the specific count of employees is not disclosed in available data. These valuation and revenue figures indicate that Crescent Capital BDC, Inc. maintains a significant presence in the specialized lending and investment space, reflecting a substantial asset base under management relative to its peer group in the asset management landscape.
Santé financière
The company reported a total revenue of $167.28M over the trailing twelve months, generating a net income of $34.51M, whereas specific EBITDA data is not available for this reporting period. The substantial gap between the $167.28M revenue and the $34.51M net income reveals a distinct cost structure where operating expenses and interest costs consume a majority of top-line earnings, a characteristic common in business development companies where management fees and investment yields are critical components. The business generates a free cash flow of $48.25M, which provides the organization with significant financial flexibility to service its debt obligations or pursue new lending opportunities without relying solely on external capital raises. Profitability analysis shows a gross margin of 100.0%, an operating margin of 75.4%, and a profit margin of 20.6%, indicating that while the company incurs high operational costs relative to revenue, it retains a healthy portion of earnings after all expenses. On the liability side, the company holds $5.04M in cash against a total debt load of $873.76M, resulting in a debt-to-equity ratio of 123.76, which characterizes the balance sheet as highly leveraged rather than conservative. The current ratio stands at 1.27, suggesting that the company possesses sufficient short-term assets to cover its short-term liabilities, though the margin of safety is relatively narrow given the heavy debt burden. Return on equity is measured at 4.8% and return on assets is also 4.8%, metrics that suggest management's effectiveness in generating returns is moderate and consistent with the capital-intensive nature of the BDC industry.
Évaluation de la valorisation
Crescent Capital BDC, Inc. currently exhibits a trailing P/E ratio of 13.47 and a forward P/E of 8.09, implying that the market expects a significant expansion in earnings in the future relative to current profitability levels. The price-to-book ratio is 0.66, which indicates that the market is valuing the company at a discount to its net asset value, suggesting a lack of premium over book value often seen in distressed or highly leveraged financial firms. Alternative valuation metrics such as the price-to-sales ratio of 2.77 and an EV/EBITDA figure that is not available provide further context, with the P/S ratio suggesting that investors are willing to pay a moderate multiple of revenue for the company's growth potential. Regarding stock price volatility, the 52-week high is recorded at $17.02 and the 52-week low at $11.80; without the specific current share price, the trading position relative to this range cannot be precisely calculated, though the wide range indicates significant price movement over the past year. The beta value is 0.60, which signifies that the stock's price volatility is substantially lower than the broader market, implying a defensive characteristic often found in high-dividend yielding financial stocks.
Growth & Income
Revenue growth year-over-year stands at -12.1% and earnings growth year-over-year is -14.9%, indicating that the company's earnings are contracting at a faster rate than its revenue, a trend that may suggest pressure on margins or specific portfolio performance issues rather than a decline in overall business volume. As a dividend payer, the company offers a dividend yield of 13.4% with a payout ratio of 180.7%, a figure that is mathematically unsustainable as it exceeds the net income generated in the trailing twelve months, requiring the distribution of capital from other sources such as asset sales or cash reserves. This high payout ratio coupled with negative earnings growth highlights the tension between current income generation and the ability to fund dividends from operating cash flows alone. The overall growth and income profile presents a challenging dynamic where high current yields are supported by declining earnings and significant leverage, requiring close monitoring of the company's ability to manage its debt and stabilize revenue streams to ensure long-term viability.