Barings BDC (BBDC)
Market Price (12/28/2025): $8.97 | Market Cap: $943.3 MilSector: Financials | Industry: Asset Management & Custody Banks
Barings BDC (BBDC)
Market Price (12/28/2025): $8.97Market Cap: $943.3 MilSector: FinancialsIndustry: Asset Management & Custody Banks
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 24%, Dividend Yield is 13%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 20% | Weak multi-year price returns2Y Excs Rtn is -16%, 3Y Excs Rtn is -25% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 164% |
| Low stock price volatilityVol 12M is 20% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -11% | |
| Megatrend and thematic driversMegatrends include Digital & Alternative Assets. Themes include Private Equity, and Private Credit. | Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -78%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -78% | |
| Key risksBBDC key risks include [1] the potential unsustainability of its dividend due to reliance on volatile, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 24%, Dividend Yield is 13%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 20% |
| Low stock price volatilityVol 12M is 20% |
| Megatrend and thematic driversMegatrends include Digital & Alternative Assets. Themes include Private Equity, and Private Credit. |
| Weak multi-year price returns2Y Excs Rtn is -16%, 3Y Excs Rtn is -25% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 164% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -11% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -78%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -78% |
| Key risksBBDC key risks include [1] the potential unsustainability of its dividend due to reliance on volatile, Show more. |
Why The Stock Moved
Qualitative Assessment
AI Analysis | Feedback
Here are five key points highlighting factors that may have contributed to Barings BDC (BBDC) stock moving by -3.7% between August 31, 2025, and December 28, 2025:
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<b>1. Decline in Net Asset Value (NAV) per share.</b> Barings BDC's Net Asset Value (NAV) per share experienced a slight decrease, falling from $11.18 as of June 30, 2025, to $11.10 as of September 30, 2025. This quarter-over-quarter decline in intrinsic value can negatively impact investor sentiment and stock price.
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<b>2. Net unrealized depreciation and realized losses in the investment portfolio.</b> The company reported a net unrealized depreciation of $8.8 million and a net realized loss of $1.3 million during the third quarter of 2025, which contributed to the decrease in NAV per share. Such losses within the investment portfolio can signal underlying challenges or market headwinds.
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<b>3. Increase in the debt-to-equity ratio.</b> Barings BDC's debt-to-equity ratio rose from 1.34x as of June 30, 2025, to 1.40x as of September 30, 2025. An increase in leverage can sometimes be perceived as heightened risk by investors, potentially putting downward pressure on the stock.
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<b>4. Dividend rate decrease.</b> On August 9, 2025, Barings BDC Inc. decreased its dividend rate by more than 3%, from an annualized rate of $1.24 to $1.04. While the Q4 2025 quarterly dividend of $0.26 per share was declared on October 7, 2025, and covered by Net Investment Income, the earlier reduction in the annualized dividend rate could have dampened investor expectations for future income and contributed to stock price weakness.
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<b>5. Modest share repurchase activity.</b> Despite the Board authorizing a share repurchase program for up to $30.0 million commencing March 1, 2025, only 250,000 shares were repurchased at an average price of $9.35 per share as of November 6, 2025, with no shares repurchased during the third quarter of 2025. A less aggressive capital return to shareholders than anticipated could have removed a potential support for the stock price.
Show moreStock Movement Drivers
Fundamental Drivers
The 3.2% change in BBDC stock from 9/27/2025 to 12/27/2025 was primarily driven by a 1.6% change in the company's P/E Multiple.| 9272025 | 12272025 | Change | |
|---|---|---|---|
| Stock Price ($) | 8.69 | 8.97 | 3.21% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 112.89 | 114.20 | 1.16% |
| Net Income Margin (%) | 88.56% | 88.89% | 0.37% |
| P/E Multiple | 9.15 | 9.29 | 1.59% |
| Shares Outstanding (Mil) | 105.23 | 105.16 | 0.07% |
| Cumulative Contribution | 3.21% |
Market Drivers
9/27/2025 to 12/27/2025| Return | Correlation | |
|---|---|---|
| BBDC | 3.2% | |
| Market (SPY) | 4.3% | 37.1% |
| Sector (XLF) | 3.3% | 49.6% |
Fundamental Drivers
The 4.8% change in BBDC stock from 6/28/2025 to 12/27/2025 was primarily driven by a 2.6% change in the company's Total Revenues ($ Mil).| 6282025 | 12272025 | Change | |
|---|---|---|---|
| Stock Price ($) | 8.56 | 8.97 | 4.80% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 111.33 | 114.20 | 2.58% |
| Net Income Margin (%) | 88.80% | 88.89% | 0.10% |
| P/E Multiple | 9.12 | 9.29 | 1.86% |
| Shares Outstanding (Mil) | 105.37 | 105.16 | 0.20% |
| Cumulative Contribution | 4.80% |
Market Drivers
6/28/2025 to 12/27/2025| Return | Correlation | |
|---|---|---|
| BBDC | 4.8% | |
| Market (SPY) | 12.6% | 31.8% |
| Sector (XLF) | 7.4% | 42.9% |
Fundamental Drivers
The 6.9% change in BBDC stock from 12/27/2024 to 12/27/2025 was primarily driven by a 20.8% change in the company's P/E Multiple.| 12272024 | 12272025 | Change | |
|---|---|---|---|
| Stock Price ($) | 8.39 | 8.97 | 6.86% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 127.89 | 114.20 | -10.71% |
| Net Income Margin (%) | 90.21% | 88.89% | -1.46% |
| P/E Multiple | 7.69 | 9.29 | 20.81% |
| Shares Outstanding (Mil) | 105.72 | 105.16 | 0.53% |
| Cumulative Contribution | 6.86% |
Market Drivers
12/27/2024 to 12/27/2025| Return | Correlation | |
|---|---|---|
| BBDC | 6.9% | |
| Market (SPY) | 17.0% | 56.0% |
| Sector (XLF) | 15.3% | 58.5% |
Fundamental Drivers
The 57.0% change in BBDC stock from 12/28/2022 to 12/27/2025 was primarily driven by a 279.9% change in the company's Total Revenues ($ Mil).| 12282022 | 12272025 | Change | |
|---|---|---|---|
| Stock Price ($) | 5.71 | 8.97 | 57.03% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 30.06 | 114.20 | 279.86% |
| Net Income Margin (%) | 57.91% | 88.89% | 53.50% |
| P/E Multiple | 35.85 | 9.29 | -74.08% |
| Shares Outstanding (Mil) | 109.27 | 105.16 | 3.76% |
| Cumulative Contribution | 56.80% |
Market Drivers
12/28/2023 to 12/27/2025| Return | Correlation | |
|---|---|---|
| BBDC | 31.2% | |
| Market (SPY) | 48.0% | 50.8% |
| Sector (XLF) | 51.3% | 54.4% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| BBDC Return | -3% | 29% | -19% | 19% | 24% | 5% | 56% |
| Peers Return | 16% | 38% | -12% | 21% | 26% | 16% | 150% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 18% | 114% |
Monthly Win Rates [3] | |||||||
| BBDC Win Rate | 58% | 83% | 50% | 50% | 58% | 67% | |
| Peers Win Rate | 52% | 65% | 42% | 68% | 57% | 52% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| BBDC Max Drawdown | -47% | -4% | -22% | -9% | 0% | -15% | |
| Peers Max Drawdown | -34% | -5% | -26% | -7% | -9% | -23% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/26/2025 (YTD)
How Low Can It Go
| Event | BBDC | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -37.3% | -25.4% |
| % Gain to Breakeven | 59.5% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -49.3% | -33.9% |
| % Gain to Breakeven | 97.4% | 51.3% |
| Time to Breakeven | 426 days | 148 days |
| 2018 Correction | ||
| % Loss | -53.6% | -19.8% |
| % Gain to Breakeven | 115.3% | 24.7% |
| Time to Breakeven | Not Fully Recovered days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -58.7% | -56.8% |
| % Gain to Breakeven | 142.0% | 131.3% |
| Time to Breakeven | 361 days | 1,480 days |
Compare to HPQ, HPE, IBM, CSCO, AAPL
In The Past
Barings BDC's stock fell -37.3% during the 2022 Inflation Shock from a high on 11/10/2021. A -37.3% loss requires a 59.5% gain to breakeven.
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AI Analysis | Feedback
```htmlHere are 1-2 brief analogies to describe Barings BDC (BBDC):
- Like a private equity firm, but one that primarily provides debt (loans) to private middle-market companies.
- The commercial lending division of a bank like JPMorgan Chase, but specializing in loans to private, mid-sized businesses.
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Major Products & Services of Barings BDC (BBDC)
- Senior Secured Loans: Provides capital to middle-market companies through debt secured by the borrower's assets, holding the highest repayment priority.
- Unitranche Loans: Offers comprehensive financing solutions by combining senior and subordinated debt into a single, simplified loan facility for middle-market companies.
- Second Lien Loans: Delivers capital to middle-market companies through debt secured by the borrower's assets, ranking below senior secured loans in repayment priority.
- Equity Investments: Acquires minority ownership stakes, preferred equity, or warrants in middle-market companies, often alongside debt financing, for potential capital appreciation.
AI Analysis | Feedback
Barings BDC (BBDC) is a Business Development Company (BDC) that primarily invests in private, middle-market companies. Its business model involves providing debt and equity financing to these companies. Therefore, BBDC's "customers" are the companies to which it provides capital. BBDC sells primarily to **other companies**. Barings BDC maintains a diversified portfolio of investments across numerous private middle-market companies in various industries. As such, it generally does not have a few "major customers" that dominate its revenue stream in the way a traditional sales-oriented company might. Its success depends on the performance of its broad portfolio of investments. Since BBDC's portfolio consists of privately held companies, these companies **do not have public stock symbols**. Examples of companies in BBDC's diversified investment portfolio include (but are not limited to, and no single investment constitutes a "major customer" due to diversification): * AccentCare, Inc. * AmerCareRoyal, LLC * Ancillary Medical Solutions, LLC * BigHand Inc. * Data Axle, Inc. These are private companies across various sectors such as healthcare services, manufacturing, business services, and software.AI Analysis | Feedback
- Barings LLC
- U.S. Bancorp (USB)
- PricewaterhouseCoopers LLP
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Eric Lloyd, Executive Chairman of the Board and Chief Executive Officer
Eric Lloyd is the current Executive Chairman of the Board and Chief Executive Officer of Barings BDC, Inc. He will transition to Executive Chairman of the Board, effective January 1, 2026, with Thomas Q. McDonnell succeeding him as CEO. Mr. Lloyd is also the President of Barings LLC, where he is responsible for leading and managing cross-asset investment teams, corporate strategy, business development, and product management. He has been in the industry since 1990, with his experience encompassing leadership positions in investment management, investment banking, leveraged finance, and risk management. Prior to joining Barings in 2013, Mr. Lloyd served as Head of Market and Institutional Risk for Wells Fargo, was a member of Wells Fargo's Management Committee, and was on the Board of Directors of Wells Fargo Securities. Before Wells Fargo acquired Wachovia, he worked in Wachovia's Global Markets Investment Banking division, holding various leadership roles, including Head of Wachovia's Global Leveraged Finance Group.
Thomas Q. McDonnell, Chief Executive Officer (Incoming, effective January 1, 2026)
Thomas Q. McDonnell is appointed as the incoming Chief Executive Officer of Barings BDC, Inc., effective January 1, 2026. He brings over 30 years of experience in global finance, investment management, and strategic business planning. Mr. McDonnell previously spent nearly two decades at Barings, where he served as a Managing Director and a member of the U.S. High Yield Investment Committee and other credit-related investment committees. During his tenure, he played a key role in managing multi-strategy and global loan portfolios and spearheaded fundraising efforts exceeding $15 billion. Earlier in his career, he held roles at Patriarch Partners, Bank of America, and JP Morgan Chase, focusing on deal structuring, credit risk management, portfolio strategy, and financial planning. Mr. McDonnell also serves on the board of directors of Rocade Holdings LLC, a specialty finance company focused on litigation finance. He is a retired Certified Public Accountant.
Elizabeth Murray, Chief Financial Officer and Chief Operating Officer
Elizabeth Murray serves as the Chief Financial Officer and Chief Operating Officer of Barings BDC, Inc. She also holds these roles for Barings Capital Investment Corporation and Barings Private Credit Corporation. Ms. Murray is a board member for Rocade LLC. Her previous experience includes serving as the Chief Accounting Officer for Barings BDC, Barings Capital Investment Corporation, and Barings Private Credit Corporation. Prior to that, she was the Vice President of Financial Reporting at Triangle Capital Corporation before the investment management of the company was externalized to Barings LLC.
Matthew Freund, President
Matthew Freund serves as the President of Barings BDC, Inc. He is also the President of Barings Capital Investment Corporation and Barings Private Credit Corporation. Mr. Freund is a member of Barings' Global Private Finance Group and the North America Private Finance Investment Committee. He also serves as a board member for Eclipse Business Credit, a specialty lender focused on providing asset-backed loans. Before joining Barings in 2015, Mr. Freund worked for US Bank, where he structured bank loans to support leveraged buyouts for private equity sponsors.
Albert Perley, Treasurer
Albert Perley serves as the Treasurer of Barings BDC, Inc. He also holds the Treasurer position for Barings Capital Investment Corporation and Barings Private Credit Corporation. Mr. Perley is a member of Barings' Permanent Capital team, working within the Barings BDC Complex and related Joint Ventures. He is also a board member of Sierra Senior Loan Strategy JV I LLC, a joint venture with Barings BDC. Prior to joining Barings in 2021, Mr. Perley worked in investment banking at Wells Fargo Securities, where he underwrote CLOs and leveraged lending credit facilities to numerous private credit managers.
AI Analysis | Feedback
The key risks for Barings BDC (BBDC) are primarily related to its sensitivity to interest rate fluctuations, the inherent credit risk of its middle-market lending portfolio, and the impact of its external management fee structure.
- Interest Rate Sensitivity and Dividend Sustainability: A significant portion of Barings BDC's debt portfolio investments bear variable interest rates, typically SOFR-based. While this can be advantageous in a rising rate environment, a decline in interest rates could negatively impact the company's net investment income (NII). Several analyses indicate an "elevated risk of a dividend cut" and that NII growth has recently stemmed from "volatile, non-recurring sources," suggesting that the current dividend payout may become unsustainable if interest rates fall further or if portfolio yields compress. This risk is critical for investors who primarily seek income from BDCs.
- Credit Quality and Portfolio Risk in Middle-Market Lending: Barings BDC invests primarily in privately-held middle-market companies, which inherently carries a higher degree of risk compared to larger, publicly traded entities. While BBDC focuses on senior secured private debt, the credit quality of its underlying loan portfolio remains a significant risk. The company's past, under its former name Triangle Capital, experienced "hefty losses" from subordinated debt investments, underscoring the potential for credit deterioration to lead to "permanent losses" in net asset value (NAV) if underwriting is poor, particularly given a BDC's limited ability to retain earnings.
- Impact of External Management Fees: As an externally managed business development company, Barings BDC pays management and incentive fees to its investment adviser, Barings. While these fees are structured to align with shareholder interests, they "consume a significant portion of investment income". There is also a potential for the adviser to favor investments that generate capital gains, which incur a capital gains fee without a hurdle rate, over income-producing securities, which might not always align perfectly with the BDC's objective of generating consistent current income for its shareholders.
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Barings BDC (BBDC) primarily focuses on providing debt investments, predominantly senior secured loans, to private U.S. middle-market companies. These investments often include first lien debt, unitranche, second lien debt, subordinated debt, and equity co-investments. The companies they target typically have an EBITDA between $10 million and $75 million and are often backed by private equity sponsors. The addressable market for Barings BDC's main products and services is within the U.S. private credit and direct lending landscape. The U.S. private credit market is estimated to be approximately $1.1 trillion to $1.25 trillion. Globally, this market is larger, estimated at around $1.6 trillion to $2 trillion. Direct lending constitutes just over half of the private credit market. Some analyses suggest that the broader addressable market for private credit in the United States could exceed $30 trillion. The U.S. "middle market," which Barings BDC targets, is estimated by some to have a combined revenue of $4 trillion. This market consists of nearly 200,000 businesses, with 90% in the lower middle market segment, generating annual revenues between $10 million and $150 million.AI Analysis | Feedback
Barings BDC (BBDC) is expected to drive future revenue growth over the next two to three years through several strategic initiatives focused on its core investment activities and market positioning.
- Increased Origination and Deployment of Capital: Barings BDC's primary objective is to generate current income by investing in privately held middle-market companies. The company continues to deploy capital into new and existing portfolio companies, with approximately $150 million deployed in Q3 2025 and new commitments of $73.5 million ($41.1 million funded) subsequent to September 30, 2025. Management commentary from Q2 2025 indicated a "building pipeline with more nascent opportunities" and strong indications from investment banks of increased transaction activity, pointing to higher merger and acquisition (M&A) activity which could fuel further investment opportunities.
- Disciplined Investment Strategy and Credit Quality: The company's strategic focus on senior secured, middle-market investments, comprising 95% of its portfolio by Q2 2025, emphasizes careful credit selection to achieve attractive, risk-adjusted returns. With 97% of its investments in senior secured debt and a low non-accrual rate (0.6% at fair value in Q2 2025), Barings BDC aims to ensure consistent and high-quality income generation from its portfolio, contributing to stable revenue growth.
- Capital Rotation and Optimization of Legacy Holdings: Barings BDC is actively working to maximize the value of legacy holdings acquired from MVC Capital and Sierra, seeking to divest these assets at attractive valuations. The termination of the MVC Capital Credit Support Agreement in Q2 2025 resulted in a $23 million inflow, which is being redirected into income-producing assets. This strategic capital rotation allows the company to reallocate capital into new, potentially higher-yielding investments, thereby enhancing overall portfolio yield and income.
- Leveraging the Barings Platform and Expertise: The strength and scale of the broader Barings platform, combined with its skilled team, are highlighted as key factors bolstering the resilience of Barings BDC's portfolio and enhancing its strategic approach. This extensive credit platform and disciplined underwriting are expected to continue positioning the company to generate attractive returns and source differentiated investment opportunities, underpinning future revenue streams.
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Share Repurchases
- Barings BDC authorized a new 12-month share repurchase program on February 20, 2025, allowing for repurchases of up to $30.0 million of its common stock at prices below the then-current net asset value per share, commencing March 1, 2025.
- As of November 6, 2025, the company repurchased 250,000 shares under the authorized program at an average price of $9.35 per share.
- The company repurchased approximately 200,000 shares during the third quarter of 2024 and over 500,000 shares through September 30, 2024, under its 2024 share repurchase plan.
Share Issuance
- Barings BDC issued $300.0 million in aggregate principal amount of 5.200% senior unsecured notes due September 15, 2028, with the offering priced on September 8, 2025.
- Stockholders did not approve a proposal to issue shares below net asset value at the company's 2025 Annual Meeting on May 8, 2025.
Inbound Investments
- A strategic move to rotate into income-producing assets was supported by a $23 million payment received from Barings, which was associated with the termination of its MVC Credit Support Agreement.
Outbound Investments
- Barings BDC primarily focuses on investing in senior secured loans to private middle-market companies across various industries.
- During the third quarter of 2025, the company deployed nearly $150 million across new and existing portfolio companies.
- In the second quarter of 2025, Barings BDC invested $137.3 million in 19 new companies and an additional $61.7 million in existing positions.
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| 11142025 | V | Visa | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 7.6% | 7.6% | -2.7% |
| 11072025 | WD | Walker & Dunlop | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -11.1% | -11.1% | -12.1% |
Research & Analysis
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Peer Comparisons for Barings BDC
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 51.32 |
| Mkt Cap | 158.8 |
| Rev LTM | 56,496 |
| Op Inc LTM | 11,544 |
| FCF LTM | 7,327 |
| FCF 3Y Avg | 7,366 |
| CFO LTM | 8,590 |
| CFO 3Y Avg | 8,697 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 5.2% |
| Rev Chg 3Y Avg | 3.2% |
| Rev Chg Q | 8.3% |
| QoQ Delta Rev Chg LTM | 2.0% |
| Op Mgn LTM | 17.7% |
| Op Mgn 3Y Avg | 16.4% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 14.6% |
| CFO/Rev 3Y Avg | 23.8% |
| FCF/Rev LTM | 11.6% |
| FCF/Rev 3Y Avg | 21.6% |
Price Behavior
| Market Price | $8.97 | |
| Market Cap ($ Bil) | 0.9 | |
| First Trading Date | 02/22/2007 | |
| Distance from 52W High | -5.6% | |
| 50 Days | 200 Days | |
| DMA Price | $8.73 | $8.60 |
| DMA Trend | indeterminate | indeterminate |
| Distance from DMA | 2.7% | 4.3% |
| 3M | 1YR | |
| Volatility | 15.1% | 20.6% |
| Downside Capture | 37.99 | 54.13 |
| Upside Capture | 45.38 | 52.10 |
| Correlation (SPY) | 35.4% | 56.1% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.34 | 0.52 | 0.41 | 0.45 | 0.59 | 0.63 |
| Up Beta | -0.19 | 0.67 | 0.79 | 0.43 | 0.65 | 0.57 |
| Down Beta | -0.08 | 0.24 | 0.14 | 0.16 | 0.58 | 0.69 |
| Up Capture | 66% | 67% | 9% | 46% | 37% | 31% |
| Bmk +ve Days | 12 | 25 | 38 | 73 | 141 | 426 |
| Stock +ve Days | 9 | 21 | 27 | 61 | 128 | 393 |
| Down Capture | 48% | 55% | 72% | 68% | 68% | 85% |
| Bmk -ve Days | 7 | 16 | 24 | 52 | 107 | 323 |
| Stock -ve Days | 7 | 17 | 32 | 57 | 110 | 328 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Comparison of BBDC With Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| BBDC | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 8.1% | 16.3% | 17.8% | 72.1% | 8.6% | 4.4% | -8.2% |
| Annualized Volatility | 20.4% | 19.0% | 19.4% | 19.3% | 15.2% | 17.0% | 35.0% |
| Sharpe Ratio | 0.28 | 0.67 | 0.72 | 2.70 | 0.34 | 0.09 | -0.08 |
| Correlation With Other Assets | 58.5% | 56.0% | 3.9% | 31.9% | 49.8% | 17.2% | |
ETFs used for asset classes: Sector ETF = XLF, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data
| Comparison of BBDC With Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| BBDC | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 10.6% | 16.1% | 14.7% | 18.7% | 11.5% | 4.6% | 30.8% |
| Annualized Volatility | 18.7% | 18.9% | 17.1% | 15.5% | 18.7% | 18.9% | 48.6% |
| Sharpe Ratio | 0.45 | 0.71 | 0.70 | 0.97 | 0.50 | 0.16 | 0.57 |
| Correlation With Other Assets | 51.3% | 49.2% | 8.2% | 16.6% | 46.3% | 16.8% | |
ETFs used for asset classes: Sector ETF = XLF, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Comparison of BBDC With Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| BBDC | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 3.0% | 13.2% | 14.8% | 15.3% | 7.0% | 5.3% | 69.2% |
| Annualized Volatility | 25.7% | 22.3% | 18.0% | 14.7% | 17.6% | 20.8% | 55.8% |
| Sharpe Ratio | 0.14 | 0.55 | 0.71 | 0.86 | 0.32 | 0.22 | 0.90 |
| Correlation With Other Assets | 44.8% | 42.4% | 6.4% | 20.3% | 42.8% | 8.7% | |
ETFs used for asset classes: Sector ETF = XLF, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/6/2025 | -0.4% | -0.7% | 2.9% |
| 8/7/2025 | 4.5% | 5.1% | 6.1% |
| 5/8/2025 | -1.6% | 2.4% | 8.2% |
| 2/20/2025 | 2.7% | -2.6% | -5.8% |
| 11/6/2024 | 0.1% | 1.8% | 2.4% |
| 8/7/2024 | 5.5% | 4.9% | 5.8% |
| 5/7/2024 | -1.4% | 2.6% | 5.4% |
| 1/25/2024 | 1.5% | -2.5% | 7.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 13 | 14 |
| # Negative | 9 | 9 | 8 |
| Median Positive | 2.7% | 2.6% | 5.6% |
| Median Negative | -0.7% | -0.9% | -4.7% |
| Max Positive | 5.5% | 8.1% | 8.8% |
| Max Negative | -4.8% | -5.8% | -22.2% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 11062025 | 10-Q 9/30/2025 |
| 6302025 | 8072025 | 10-Q 6/30/2025 |
| 3312025 | 5082025 | 10-Q 3/31/2025 |
| 12312024 | 2202025 | 10-K 12/31/2024 |
| 9302024 | 11062024 | 10-Q 9/30/2024 |
| 6302024 | 8072024 | 10-Q 6/30/2024 |
| 3312024 | 5072024 | 10-Q 3/31/2024 |
| 12312023 | 2222024 | 10-K 12/31/2023 |
| 9302023 | 11092023 | 10-Q 9/30/2023 |
| 6302023 | 8092023 | 10-Q 6/30/2023 |
| 3312023 | 5042023 | 10-Q 3/31/2023 |
| 12312022 | 2232023 | 10-K 12/31/2022 |
| 9302022 | 11102022 | 10-Q 9/30/2022 |
| 6302022 | 8092022 | 10-Q 6/30/2022 |
| 3312022 | 5052022 | 10-Q 3/31/2022 |
| 12312021 | 2232022 | 10-K 12/31/2021 |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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