Crescent Capital BDC Inc
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Crescent Capital BDC Inc AI Insights
Informational only. Not investment advice.Snapshot
- Trading at 0.77x book value (19.27/share) while generating 74% net margin TTM - deep discount to NAV for a profitable BDC.[Price to Book Ratio]
- Dividend yield of 11.7% (1.75/share TTM) with 180% payout ratio - unsustainable without NAV erosion or income recovery.[Dividends Paid Per Share TTM]
- Revenue down 46% 1Y but up 14% 3Y CAGR - volatile investment income typical of credit cycle sensitivity.[Total Revenue 1Y Growth]
Watch Triggers
- Net Investment Income: Falls below quarterly dividend requirement (~4.4M/qtr) — Forces dividend cut or NAV erosion - primary catalyst for rerating
- Book Value Per Share: Drops below 18.00 (6.5% decline) — Signals realized credit losses exceeding income - discount to NAV justified
- Debt to Equity: Exceeds 1.5x regulatory limit — BDC leverage cap breach would force asset sales at distressed prices
Bull Case
23% discount to book value (0.77x P/B) for a BDC with 74% net margin and 4.9% ROE - market pricing in excessive credit losses not yet realized.
11.7% dividend yield covered by 49.2M FCF TTM provides income floor even if dividend cut 25%.
Bear Case
Revenue collapsed 46% YoY with EPS down 33% over 5Y - structural portfolio deterioration, not cyclical dip.
Debt/equity 1.23x with 54.2M interest expense exceeding 48.5M revenue TTM - negative interest coverage signals distress.
Bull vs Bear Balance
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Forward Thesis
Dividend likely to compress 15-25% within 12 months as payout ratio normalizes to sustainable levels.
- 180% payout ratio vs 5Y avg 119% unsustainable
- Revenue declined 46% YoY reducing NII coverage
- BDC structure requires 90%+ income distribution
Valuation Context
Caveats
Public Strategies Rankings
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CCAP Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$459.46M | — | ||
$1.33B | — | ||
13 | — | ||
$47.42M | -43.2% | — | |
$0.93 | -53.3% | — | |
0% | — | ||
72.8% | -15.4% | — | |
$74.72M | +26.8% | — | |
4.77% | -5.2% | — | |
Beta 5Y (Monthly) | unknown | — |
CCAP Dividend History
2026
$0.42002025
$1.83002024
$2.04002023
$1.81002022
$1.79002021
$1.69002020
$1.6400CCAP Stock Splits
CCAP SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
02/25/26 | 12/31/25 | Unknown | |
11/12/25 | 09/30/25 | 10-Q | |
08/13/25 | 06/30/25 | 10-Q | |
05/14/25 | 03/31/25 | 10-Q | |
02/19/25 | 12/31/24 | 10-K | |
11/12/24 | 09/30/24 | 10-Q | |
08/12/24 | 06/30/24 | 10-Q | |
05/08/24 | 03/31/24 | 10-Q | |
02/21/24 | 12/31/23 | 10-K | |
11/08/23 | 09/30/23 | 10-Q | |
08/09/23 | 06/30/23 | 10-Q | |
05/10/23 | 03/31/23 | 10-Q | |
02/22/23 | 12/31/22 | 10-K | |
11/09/22 | 09/30/22 | 10-Q | |
08/10/22 | 06/30/22 | 10-Q | |
05/09/22 | 03/31/22 | 10-Q | |
02/23/22 | 12/31/21 | 10-K | |
11/10/21 | 09/30/21 | 10-Q | |
08/11/21 | 06/30/21 | 10-Q | |
10/12/22 | 06/30/21 | 10-Q/A | |
05/12/21 | 03/31/21 | 10-Q | |
02/24/21 | 12/31/20 | 10-K | |
11/04/20 | 09/30/20 | 10-Q | |
08/10/20 | 06/30/20 | 10-Q | |
05/12/20 | 03/31/20 | 10-Q | |
03/04/20 | 12/31/19 | 10-K | |
11/07/19 | 09/30/19 | 10-Q | |
08/13/19 | 06/30/19 | 10-Q | |
05/10/19 | 03/31/19 | 10-Q | |
03/22/19 | 12/31/18 | 10-K | |
11/12/19 | 09/30/18 | 10-Q/A | |
08/13/19 | 06/30/18 | 10-Q | |
05/10/19 | 03/31/18 | 10-Q |