Barings BDC (BBDC) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Barings BDC

NYSE•Financial Services•Asset Management

$8.73-0.04(<0.01%)After hours

Market Cap

$936.08M

P/E

10.7x

P/S

3.5x

P/B

0.8x

Barings BDC, Inc. is a publicly traded Real Estate, externally managed investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. It seeks to invest primarily in senior secured loans, first lien debt, unitranche, second lien debt, subordinated debt, equity co-investments and senior secured private debt investments in private middle-market companies that operate across a wide range of industries. It specializes in mezzanine, leveraged buyouts, management buyouts, ESOPs, change of control transactions, acquisition financings, growth financing, and recapitalizations in lower middle market, mature, and later stage companies. It invests in manufacturing and distribution; business services and technology; transportation and logistics; consumer product and services. It invests in United States. It invests in companies with EBITDA of $10 million to $75 million, typically in private equity sponsor backed. The firm prefers to invest in companies having maximum revenue of $200 million and having EBITDA value between $10 million and $75 million.

How this company scores

AverageMetricSide Score: 51/100

Strongest: Cash & Earnings Quality (18/25); weakest: Growth (7/25).

Profitability15/25

Growth7/25

Balance Sheet & Red Flags11/25

Cash & Earnings Quality18/25

Strengths

Strong marginsImproving marginsNo share dilution

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 10.7x5y range 7.1x – 10.7x

Currently near its 13-quarter median.

P/S · 3.5x5y range 2.3x – 3.6x

Currently near its 13-quarter median.

P/B · 0.8x5y range 0.7x – 0.9x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.

Revenue Decline

Red Flag

Revenue declined in 6 of the last 7 quarters — persistent contraction signals a fundamental problem.

Price & Volume

Market Cap $936.08M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $266.14M
Q. Revenue: $65.20M
TTM EBITDA: $120.97M
TTM Op. Income: $120.97M
Q. Op. Income: $30.46M
TTM Net Income: $87.11M
Q. Net Income: $18.33M
EPS: $0.28
Shares Out.: $104.71M

$266.14M in TTM revenue declined 5.1% YoY, reaching $65.20M last quarter. TTM EBITDA of $120.97M and TTM operating income of $120.97M show growth is flowing through to the bottom line. TTM net income of $87.11M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has fallen for 3 consecutive quarters — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 46.7%
Op. Margin: 46.7%
Net Margin: 28.1%

Op. margin of 46.7% is up 5.6% YoY — cost efficiency is improving. Net margin at 28.1% Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 10.7x
P/S Ratio: 3.5x
P/B Ratio: 0.8x

At 10.7x P/E, the stock trades below typical market levels. P/S of 3.5x and P/B of 0.8x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has risen for 3 consecutive quarters — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $2.58B
Cash: $69.89M
Long-Term Debt: $1.12B
Book Value: $1.15B
D/E Ratio: 1.0
Debt/EBITDA: 36.7

With $2.58B in assets and $1.12B in long-term debt, D/E is 1.0and book value is $1.15B — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is up 12% — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $15.78M
TTM Free Cash Flow: $304.74M
FCF Margin: 114.5%
FCF / Net Income: 3.5

TTM FCF of $304.74M on $15.78M in operating cash flow. The FCF / Net Income ratio of 3.5x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 3 consecutive quarters — an improving trend.