KBDC
Financial ServicesKayne Anderson BDC, Inc. · Asset Management · $970M
What is Kayne Anderson BDC, Inc.?
Kayne Anderson BDC, Inc. is a business development company focused on lending to middle market businesses across the United States. It operates within the broader Financial Services sector and is headquartered in Houston.
KBDC generates income by providing debt financing — primarily senior secured loans and split-lien loans — to U.S. middle market companies. Its target borrowers typically carry EBITDA between ten and one hundred fifty million dollars. By focusing on secured lending structures, the fund seeks to protect capital while earning interest income across a broad range of industries.
Kayne Anderson BDC was established in 2024 and is headquartered in Houston, US.
- Senior secured loans to middle market companies
- Split-lien loan structures for buyout transactions
- Broad sector diversification across U.S. industries
- Income-focused BDC investment strategy
Is KBDC a Good Stock to Buy?
UQS Score rates KBDC as Good overall, reflecting a balanced profile with notable strengths and areas to watch.
KBDC's strongest pillar is Quality, suggesting the underlying loan portfolio and business fundamentals compare favorably within the BDC space. Valuation is rated Attractive, meaning the stock does not appear richly priced relative to its fundamentals — a meaningful consideration for income-oriented investors.
The Moat pillar is rated Weak, indicating limited structural competitive advantages that would differentiate KBDC from other middle market lenders over the long term.
See the exact pillar breakdown and full financial metrics by signing up for a UQS Pro account. Sign up free →
Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does KBDC pay dividends?
Yes — Kayne Anderson BDC, Inc. pays a dividend.
KBDC pays a regular dividend, consistent with the BDC structure that requires distributing the majority of taxable income to shareholders. This makes it relevant for income-focused investors. The Attractive Valuation rating may add further appeal for those seeking yield without paying a significant premium.
When does KBDC report earnings?
Kayne Anderson BDC reports earnings on a quarterly cadence, typical for US-listed equities.
As a BDC, KBDC's quarterly results center on net investment income, portfolio credit quality, and net asset value per share. Growth and Risk pillars are both rated Neutral, suggesting a steady rather than rapidly expanding earnings profile. For the most recent quarter's results, see Kayne Anderson BDC's investor relations page.
For the most recent quarter's results, see Kayne Anderson BDC's investor relations page.
KBDC Price History
+12.3% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Kayne Anderson BDC, Inc.?
Based on Kayne Anderson BDC, Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
KBDC Long-term Outlook
KBDC's Neutral Growth and Neutral Risk ratings point to a stable, income-driven trajectory rather than aggressive expansion. The Attractive Valuation label suggests the market has not priced in outsized optimism, which may limit downside from sentiment shifts. The primary fundamental risk lies in credit quality across the middle market loan book, particularly if economic conditions tighten.
Growth drivers
- Continued deployment of capital into senior secured middle market loans
- Rising or sustained interest rates supporting net investment income
- Expanding deal flow from private equity buyout activity
Key risks
- Credit deterioration among middle market borrowers in a slowdown
- Weak Moat rating limits pricing power and portfolio differentiation
- Regulatory or leverage constraints inherent to the BDC structure
KBDC vs Peers
KBDC operates in a competitive landscape alongside other income-focused investment vehicles and asset managers.
Oxford Lane focuses on collateralized loan obligation equity tranches rather than direct middle market lending, resulting in a different risk and income profile than KBDC.
AGF Management is a Canadian asset manager with a diversified product lineup, contrasting with KBDC's narrower focus on U.S. middle market debt.
Virtus operates as a multi-manager investment firm across equities and fixed income, competing with KBDC for income-seeking capital but through a broader product platform.
Frequently Asked Questions
What does Kayne Anderson BDC do?
Kayne Anderson BDC is a business development company that lends to U.S. middle market businesses. It primarily provides senior secured loans and split-lien loans to support buyout transactions, earning income from interest payments across a diversified range of industries.
Does KBDC pay dividends?
Yes, KBDC pays a regular dividend. As a BDC, it is required to distribute the majority of its taxable income to shareholders, making dividend payments a core feature of the investment. Income-focused investors often consider BDCs for this reason.
When does KBDC report earnings?
Kayne Anderson BDC reports on a quarterly cadence, standard for US-listed companies. Exact dates vary each quarter. For upcoming reporting dates, visit the company's official investor relations page directly.
Is KBDC a good stock to buy?
KBDC earns a Good UQS Score overall. Its Quality pillar is rated Strong and Valuation is Attractive, which may appeal to income investors. However, the Weak Moat rating is worth considering. The full pillar breakdown is available to UQS Pro members.
Is KBDC overvalued?
UQS rates KBDC's Valuation as Attractive, suggesting it does not appear overpriced relative to its fundamentals. For income-oriented investors, this combination of regular dividends and an Attractive Valuation label may be a relevant data point in the research process.
How does KBDC compare to its competitors?
KBDC focuses narrowly on senior secured middle market lending, while peers like Oxford Lane Capital and Virtus Investment Partners operate with broader or structurally different mandates. This specialization shapes KBDC's risk and income profile differently from more diversified financial services firms.
What is KBDC's market cap bracket?
KBDC is classified as a small-cap company. This places it in a tier where liquidity and analyst coverage may be more limited than large-cap peers, which is a factor some investors weigh when assessing position sizing and trading costs.
Who founded Kayne Anderson BDC?
Kayne Anderson BDC is affiliated with Kayne Anderson Capital Advisors, a well-known alternative investment manager. Founding details of the BDC entity itself are publicly available through the company's SEC filings and investor relations materials.
Is KBDC a long-term quality investment?
From a quality-indicator perspective, KBDC's Strong Quality pillar and Attractive Valuation are positive long-term signals. The Weak Moat rating, however, suggests limited structural advantages that could sustain outperformance over time. UQS Pro members can view the complete long-term quality analysis.
What is the main competitive advantage of Kayne Anderson BDC?
KBDC's focus on senior secured lending provides structural capital protection relative to junior or unsecured debt strategies. Its affiliation with Kayne Anderson's broader investment platform may also support deal sourcing. That said, the UQS Moat pillar is rated Weak, reflecting limited durable differentiation in the middle market lending space.
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Pro Analysis
KBDC — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 9, 2026 | 56.6 | 85.2 | 26.0 | 47.5 | 48.9 | 79.4 | -0.3 |
| May 7, 2026 | 56.9 | 85.2 | 26.0 | 47.5 | 48.9 | 81.4 | +0.1 |
| Apr 26, 2026 | 56.8 | 85.2 | 26.0 | 47.5 | 48.9 | 81.2 | 0.0 |
| Apr 22, 2026 | 56.8 | 85.2 | 26.0 | 47.0 | 48.9 | 81.5 | +0.2 |
| Apr 21, 2026 | 56.6 | 85.2 | 26.0 | 47.0 | 48.9 | 80.7 | 0.0 |
| Apr 19, 2026 | 56.6 | 85.2 | 26.0 | 46.4 | 48.9 | 81.1 | -0.1 |
| Apr 18, 2026 | 56.7 | 85.2 | 26.0 | 46.4 | 48.9 | 82.0 | -2.7 |
| Apr 14, 2026 | 59.4 | 85.2 | 26.0 | 46.4 | 48.9 | 99.5 | 0.0 |
| Apr 5, 2026 | 59.4 | 85.2 | 26.0 | 46.4 | 48.9 | 99.8 | 0.0 |
| Apr 2, 2026 | 59.4 | 85.2 | 26.0 | 46.4 | 48.9 | 99.9 | — |
KBDC — Pillar Breakdown
Quality
— 72.1/100 (25%)Kayne Anderson BDC, Inc. shows solid profitability with healthy returns on capital and reasonable margins.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Free cash flow relative to market value.
Growth
— 48.3/100 (20%)Kayne Anderson BDC, Inc. shows steady but unspectacular growth, typical for mature companies.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 37.7/100 (15%)Kayne Anderson BDC, Inc. has some risk factors including moderate leverage or solvency concerns.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 100.0/100 (15%)Kayne Anderson BDC, Inc. appears attractively valued relative to its earnings, cash flows, and sector peers.
Inverse of forward P/E — higher yield means cheaper stock.
P/E relative to earnings growth — lower is more attractive.
Moat
— 26/100 (25%)Kayne Anderson BDC, Inc. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for KBDC.
Score Composition
Financial Data
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How is the KBDC UQS Score Calculated?
The UQS (Unified Quality Score) for Kayne Anderson BDC, Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Kayne Anderson BDC, Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Kayne Anderson BDC, Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.