Crescent Capital BDC Inc. Common stock (CCAP)

FairStock Score: 52/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach Crescent Capital BDC as a Graham-style asset play, not a growth story. It is a business development company that lends to U.S. middle-market companies. At the 2026-10-13 close of $9.14, the market values it at $336.8 million, or 0.51 times book value per FairStock. That discount could be a margin of safety if the loan book is sound, but BDC lending is competitive and capital-intensive; I see no wide moat, only underwriting skill and patient debt capital. The reported trend is deteriorating. Filed figures show net income of $83.8 million in fiscal year 2023, the year ended 2023-12-31; $73.6 million in fiscal year 2024, the year ended 2024-12-31; and $34.5 million in fiscal year 2025, the year ended 2025-12-31. In fiscal Q1 2026, the quarter ended 2026-03-31, net income was negative $15.5 million; in fiscal Q2 2026, the quarter ended 2026-06-30, net income was negative $3.2 million. The 15.56% dividend yield is eye-catching, but it looks ahead of the recent earnings run-rate. Financial health needs watching: debt-to-equity is 1.41, the Altman Z-Score is -0.05 per FairStock, and the Piotroski F-Score is 5/9. On the positive side, trailing free cash flow is $39.5 million, an 11.7% yield on market cap, and the beta is 0.57. A 0.51 P/B asset play can work if book value holds, but with losses and leverage, I would want evidence that credit marks and dividends are sustainable before calling it cheap in substance.

In plain English: Crescent Capital BDC lends money to middle-sized U.S. companies through private debt. In fiscal year 2025, the year ended 2025-12-31, its reported net income was $34.5 million, down from $73.6 million in fiscal year 2024, the year ended 2024-12-31, and fiscal Q1 and Q2 2026 showed net losses. The shares trade at about half the accounting value of the company and pay a very high dividend, but the low price reflects real worries about credit quality and falling earnings.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer