Chicago Atlantic BDC (LIEN) Stock Fundamentals, Analysis & Risk Signals

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

Chicago Atlantic BDC

NasdaqGM•Financial Services•Asset Management

$10.14-0.03(<0.01%)Market closed

Market Cap

$233.23M

P/E

7.4x

P/S

3.9x

P/B

0.8x

Silver Spike Investment Corp., is a a business development company. It is a specialty finance company, focuses on investing across the cannabis ecosystem through investments in the form of direct loans to, and equity ownership of, privately held cannabis companies. It intends to partner with private equity firms, entrepreneurs, business owners, and management teams to provide credit and equity financing alternatives to support buyouts, recapitalizations, growth initiatives, refinancings, and acquisitions across cannabis companies, including cannabis-enabling technology companies, cannabis-related health and wellness companies, and hemp and CBD distribution companies. The company was founded in 2021 and is based in New York, New York.

How this company scores

GoodMetricSide Score: 60/100

Strongest: Growth (22/25); weakest: Cash & Earnings Quality (4/25).

Profitability20/25

Growth22/25

Balance Sheet & Red Flags14/25

Cash & Earnings Quality4/25

Strengths

Growing revenueStrong marginsRising earningsProfit converts from growth

Valuation vs. 5-year range

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

P/E · 7.4x5y range 6.2x – 16.0x

Currently below its 11-quarter median.

P/S · 3.9x5y range 3.6x – 8.3x

Currently below its 11-quarter median.

P/B · 0.8x5y range 0.4x – 0.9x

Watch items

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

High Risk

Earnings Quality

Red Flag

Free cash flow has been negative in 6 of the last 8 quarters — earnings are not translating to cash.

Cash Burn

Watch

6 of the last 8 quarters had negative FCF — inconsistent cash generation raises sustainability concerns.

Price & Volume

Market Cap $233.23M

Metrics at a Glance

as of June 2026

Revenue & Profit

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

TTM Revenue: $59.97M
Q. Revenue: $13.97M
TTM EBITDA: $35.37M
TTM Op. Income: $35.37M
Q. Op. Income: $7.65M
TTM Net Income: $31.68M
Q. Net Income: $6.06M
EPS: $0.27
Shares Out.: $22.82M

$59.97M in TTM revenue grew 46.9% YoY, reaching $13.97M last quarter. TTM EBITDA of $35.37M and TTM operating income of $35.37M show growth is flowing through to the bottom line. TTM net income of $31.68M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 54.8%
Op. Margin: 54.8%
Net Margin: 43.4%

Op. margin of 54.8% is down 3.8% YoY — costs are rising relative to revenue. Net margin at 43.4% Over the past year, operating margin is down 7% — a weakening trend.

Price Ratios

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

P/E Ratio: 7.4x
P/S Ratio: 3.9x
P/B Ratio: 0.8x

At 7.4x P/E, the stock trades below typical market levels. P/S of 3.9x and P/B of 0.8x provide additional context. P/E sits below typical market levels while revenue is growing. Over the past year, P/E is down 25% — a weakening trend.

Assets & Liabilities

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

Total Assets: $343.96M
Cash: $925,534
Long-Term Debt: N/A
Book Value: $302.49M
D/E Ratio: N/A
Debt/EBITDA: 0.0

Cash Flow

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

Op. Cash Flow: $32.97M
TTM Free Cash Flow: $-3.02M
FCF Margin: -5.0%
FCF / Net Income: -0.1

TTM FCF of $-3.02M on $32.97M in operating cash flow. The FCF / Net Income ratio of -0.1x means the business consumes cash — it is not yet self-funding. Over the past year, free cash flow is up 80% — an improving trend.