Barings BDC, Inc.

BBDC

$8.99

-0.06%

2026-09-04 10:26:13 EDT-$0.00

Financial Services

Asset Management

NYSE

Active Trading

Barings BDC, Inc. (NYSE: BBDC) functions as a publicly traded, externally managed Business Development Company (BDC), operating under the regulatory framework of ...

Price Action of BBDC

$8.99

-0.06%+$0.00

High—

Low—

52W High-3.0%

Rel. vol—

Interval

Range51m

Volume—SMA5SMA10

—

Barings BDC, Inc. operates as a business development company under the Investment Company Act of 1940, externally managed by Barings LLC, a global alternative asset manager with over $500 billion in assets under management. The company's investment strategy centers on generating current income and capital appreciation by investing primarily in ...Barings BDC, Inc. operates as a business development company under the Investment Company Act of 1940, externally managed by Barings LLC, a global alternative asset manager with over $500 billion in assets under management. The company's investment strategy centers on generating current income and capital appreciation by investing primarily in senior secured loans, including first and second lien debt, unitranche facilities, and subordinated debt, as well as equity co-investments. These financial solutions are extended to private middle-market companies across diverse industries such as manufacturing, business services, technology, transportation, and consumer products. The company specifically targets firms with EBITDA between $10 million and $75 million, often supporting leveraged buyouts, management buyouts, growth financing, acquisitions, recapitalizations, and change-of-control transactions. Founded on October 10, 2006, and headquartered in Charlotte, North Carolina, with an additional office in Raleigh, the company went public in February 2007. Financially, BBDC demonstrates a solid performance with a market capitalization of approximately $965 million, a price-to-earnings ratio of about 10.1, and a dividend yield of 12.4%, reflecting its income-generating focus. The company maintains a debt-to-equity ratio of 1.22, indicating leverage typical for BDCs, and achieves a net profit margin of 44.6%. Under the leadership of CEO Thomas McDonnell, who assumed the role effective January 1, 2026, succeeding Eric Lloyd, Barings BDC continues to leverage its parent company's extensive resources and expertise to source and manage investments. The business model relies on external management, which means the company itself employs a minimal direct workforce, with operational support provided by Barings LLC's larger team (which has between 1,001 and 5,000 employees globally). BBDC's robust financial health is underscored by its consistent dividend payments and strong free cash flow generation, making it an attractive option for income-focused investors.ExpandCollapse

Founded

2006

Employees

CEO

Thomas McDonnell

Full Name

Barings BDC, Inc.

Sector

Financial Services

Industry

Asset Management

ROE

7.53%

Market Cap

$0.94B

Current Ratio

0.36

WACC

6.39%

ROIC

-70.49%

Contact Information

https://www.barings.com/en-us/guest

888-401-1088

300 South Tryon Street, Charlotte, NC 28202

Key Metrics of BBDC

Snapshot

Latest / TTM · 6 periods

Market Cap

$940.79M

ROCE

6.6%

EV / EBITDA

14.89x

-1.5% YoY

FCF Yield

32.4%

+15.7% YoY

Cash Conversion Cycle

20.0d

Current Ratio

0.36

Quick take

TTM —

Current ratio below 1.0

Negative working capital

Financial Highlights of BBDC

Profitability trend

Latest / TTM · 6 periods

Gross Margin

76.2%

Net Margin

33.9%

P/E Ratio

10.83x

n/a

Debt / Equity

1.22

n/a

Current Ratio

0.36

Dividend Yield

8.7%

Understanding

TTM —

Current ratio below 1.0

Calendar of BBDC

Upcoming

Sep 9, 2026In 5 days
Dividend payment
$1.04 per share
Sep 30, 2026In 26 days
Q3 FY2026 · Estimated results
Est. EPS $0.26 · Revenue $63.54M · 4 analysts
Dec 30, 2026
Q4 FY2026 · Estimated results
Est. EPS $0.25 · Revenue $64.39M · 3 analysts
Dec 31, 2026
FY2026 · Estimated annual results
Est. EPS $1.04 · Revenue $253.74M · 4 analysts

Recent history

Sep 2, 2026
Ex-dividend date
$1.04 per share
Aug 5, 2026
Q2 FY2026 · Results reported
EPS $0.18 · Revenue $83.72M
View filing
May 7, 2026
Q1 FY2026 · Results reported
EPS $0.19 · Revenue $52.22M
View filing
Feb 19, 2026
FY2025 · Annual results
EPS $0.97 · Revenue $248.84M
View filing
Nov 6, 2025
Q3 FY2025 · Results reported
EPS $0.22 · Revenue $71.02M
View filing
Aug 7, 2025
Q2 FY2025 · Results reported
EPS $0.20 · Revenue $45.84M
View filing

Financial Statements of BBDC

5Y Trend (Revenue, Earnings, FCF)

Metric	Latest	YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.	QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).	$248.8M	+19.0%	+60.3%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.	$101.9M	-7.6%	-8.3%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.	+74.0%	+25.2%	+12.7%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).	+85.2%	+56.6%	-36.6%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.	+41.0%	-22.3%	-42.8%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.	$160.5M	+36.2%	-76.8%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.	+64.5%	+14.5%	-85.5%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.	123.2%	+1.1%	-0.7%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.	3.91x	-14.9%	-86.8%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.	$2.6B	-2.2%	-0.6%

Actual vs Estimate

A Dec 31Q Sep 30

Metric	Annual (A vs E)	Annual Surprise	Quarter (A vs E)	Quarter Surprise
EPS Surprise	0.97 vs 1.12	-13.3%	0.18 vs 0.26	-31.3%
Revenue Surprise	$248.8M vs $278.9M	-10.8%	$83.7M vs $63.5M	+31.8%

Insider Transactions of BBDC

Acquisitions (A)

Since May 19, 2025

Disposals (D)

Since May 19, 2025

Monthly shares of acquisitions/disposals with close price trend (shared daily price source)

Insider Trading Snapshot

Date	Executive	Title	Security	Side	Shares	Price
Jun 3, 2026	McDonnell Thomas	officer: Chief Executive Officer	Common Stock ("Shares")	A	10,000	$8.27
Jan 1, 2026	McDonnell Thomas	officer: Chief Executive Officer	Common Stock ("Shares")	—	0	—
Dec 9, 2025	BYERS STEPHEN R	director	Common Stock ("Shares")	A	6,761	$8.97
Dec 9, 2025	BYERS STEPHEN R	director	Common Stock ("Shares")	D	5,671	$8.98
Nov 6, 2025	Verwholt Daniel	officer	—	—	0	—

Earnings Call Transcript of BBDC

1 transcript segments

Q2 2026

Unknown Speaker

Operator: Greetings. At this time, I would like to welcome everyone to the Barings BDC, Inc. Conference Call for the quarter ended June 30th, 2026. [Operator Instructions] Today's call is being recorded, and a replay will be available approximately 2 hours after the conclusion of the call on the company's website under the Investor Relations section. At this time, I'll turn the call over to Albert Perley, Head of Investor Relations for Barings BDC. Albert Perley: Please note that this call may contain forward-looking statements that include statements regarding the company's goals, beliefs, strategies, future operating results and cash flows. Although the company believes these statements are reasonable, actual results could differ materially from these projected and forward-looking statements. These statements are based on various underlying assumptions and are subject to numerous uncertainties and risks, including those disclosed under the sections titled Risk Factors and Forward-Looking Statements in the company's quarterly report on Form 10-Q for the quarter ended June 30th, 2026, and in other filings made with the Securities and Exchange Commission. Barings BDC undertakes no obligation to update or revise any forward-looking statements unless required by law. I will now turn the call over to Tom McDonnell, Chief Executive Officer of Barings BDC. Thomas McDonnell: Thanks, Albert, and good morning, everyone. On the call today, I am joined by Barings BDC's President and Co-Portfolio Manager, Matt Freund; and BBDC's Chief Financial Officer and Chief Operating Officer, Elizabeth Murray. I will begin with a brief overview of the quarter and then frame how we are viewing the market. Matt will follow with a more detailed discussion of the private credit environment and credit performance. Elizabeth will then walk through our financial results. Second quarter was a strong quarter for BBDC. We generated net investment income of $0.28 per share and outearned our quarterly dividend of $0.26 per share. We believe that earnings power reflects the durability of the portfolio, the benefit of our floating rate asset base and the value of disciplined capital deployment. Net asset value per share was $10.94 as of June 30 compared to $11.02 as of March 31. The modest decline in NAV was driven primarily by net unrealized depreciation on select investments that were on our watch list in the prior quarter. These were partially offset by net realized gains and over-earning the dividend, all of which Elizabeth will discuss in greater detail momentarily. Overall, while NAV was down modestly, the underlying earnings profile of the portfolio remains strong and credit quality remains stable. We are active on the deployment front during the quarter. BBDC originated $262 million of investments and had $167 million of sales and repayments, resulting in net originations of approximately $95 million. The investment portfolio increased to approximately $2.46 billion at fair …

Leadership Team of BBDC

10 executives

Name	Title	Gender	Year Born	Status
Thomas McDonnell	Chief Executive Officer	Male	—	Active
Elizabeth A. Murray	Chief Financial Officer, Chief Operating Officer & Principal Accounting Officer	Female	1978	Active
Ashlee Steinnerd	Chief Legal Officer	Female	1982	Active
Eric J. Lloyd	Executive Chairman of the Board	Male	1969	Active
Alexandra Pacini	Secretary	Female	1992	Active
Itzbell Branca	Chief Compliance Officer	Female	1977	Active
Rosa Epperson	Chief Accounting Officer	Female	1987	Active
Nick Roope	Associate Director	—	—	Active
Matthew Freund	President & Head of North America Private Credit Portfolio Management	Male	1989	Active
Albert Perley	Head of Investor Relations & Treasurer	Male	—	Active

Recent News of BBDC

Fool - Investing News8/27/2026Neutral

BDCs Are Selling Investment-Grade Bonds Again After a Frozen Quarter

Are the headwinds clearing for business development companies, or is there more to consider?

Zacks Investment Research8/19/2026Neutral

Is the Options Market Predicting a Spike in Barings BDC Stock?

Investors need to pay close attention to BBDC stock based on the movements in the options market lately.

Zacks Investment Research8/10/2026Neutral

Should Value Investors Buy Barings BDC (BBDC) Stock?

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

MarketBeat8/7/2026Neutral

Barings Bdc Q2 Earnings Call Highlights

Barings Bdc NYSE: BBDC reported second-quarter net investment income that exceeded its quarterly dividend, while its net asset value declined modestly as the business development company continued to simplify legacy structures and deploy capital into new investments.

Seeking Alpha8/6/2026Neutral

Barings BDC Inc (BBDC) Q2 2026 Earnings Call Transcript

Historical Employee Count of BBDC

Current

Minimum

Maximum

Recent Filings

Report Date	Form Type	Filing Date	SEC Filing
Dec 31, 2025	10-K	Feb 19, 2026	View
Dec 31, 2024	10-K	Feb 20, 2025	View
Dec 31, 2023	10-K	Feb 22, 2024	View
Dec 31, 2022	10-K	Feb 23, 2023	View
Dec 31, 2021	10-K	Feb 23, 2022	View

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Barings BDC, Inc.