Kayne Anderson BDC, Inc. (KBDC) - Net Assets
Based on the latest financial reports, Kayne Anderson BDC, Inc. (KBDC) has net assets worth $1.11 Billion USD as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($2.29 Billion) and total liabilities ($1.18 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check KBDC financial resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $1.11 Billion |
| % of Total Assets | 48.54% |
| Annual Growth Rate | N/A |
| 5-Year Change | 255.78% |
| 10-Year Change | N/A |
| Growth Volatility | 39.8 |
Kayne Anderson BDC, Inc. - Net Assets Trend (2020–2025)
This chart illustrates how Kayne Anderson BDC, Inc.'s net assets have evolved over time, based on quarterly financial data. Also explore Kayne Anderson BDC, Inc. assets under control for the complete picture of this company's asset base.
Annual Net Assets for Kayne Anderson BDC, Inc. (2020–2025)
The table below shows the annual net assets of Kayne Anderson BDC, Inc. from 2020 to 2025. For live valuation and market cap data, see KBDC market cap overview.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $1.11 Billion | -6.44% |
| 2024-12-31 | $1.19 Billion | +73.68% |
| 2023-12-31 | $683.06 Million | +15.37% |
| 2022-12-31 | $592.04 Million | +89.78% |
| 2021-12-31 | $311.97 Million | +39186.51% |
| 2020-12-31 | $-798.15K | -- |
Equity Component Analysis
This analysis shows how different components contribute to Kayne Anderson BDC, Inc.'s total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 267015000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $1.86 Million | 0.17% |
| Common Stock | $68.00K | 0.01% |
| Other Components | $1.11 Billion | 99.83% |
| Total Equity | $1.11 Billion | 100.00% |
Kayne Anderson BDC, Inc. Competitors by Market Cap
The table below lists competitors of Kayne Anderson BDC, Inc. ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Nanfang Ventilator Co Ltd
SHE:300004
|
$949.62 Million |
|
Jiangxi Sanchuan Water Meter
SHE:300066
|
$949.66 Million |
|
Fujian Yuanli Active Carbon Co Ltd
SHE:300174
|
$949.72 Million |
|
Xiamen Anne Corp Ltd
SHE:002235
|
$949.87 Million |
|
Hainan Haiyao Co Ltd
SHE:000566
|
$949.23 Million |
|
Fortrea Holdings Inc.
NASDAQ:FTRE
|
$948.95 Million |
|
Beijing Join-Cheer Software Co Ltd
SHE:002279
|
$948.78 Million |
|
Panca Anugrah Wisesa Tbk PT
JK:MGLV
|
$948.76 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Kayne Anderson BDC, Inc.'s equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 1,186,342,000 to 1,109,931,000, a change of -76,411,000 (-6.4%).
- Net income of 93,706,000 contributed positively to equity growth.
- Dividend payments of 6,376,000 reduced retained earnings.
- Share repurchases of 47,994,000 reduced equity.
- Other factors decreased equity by 115,747,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $93.71 Million | +8.44% |
| Dividends Paid | $6.38 Million | -0.57% |
| Share Repurchases | $47.99 Million | -4.32% |
| Other Changes | $-115.75 Million | -10.43% |
| Total Change | $- | -6.44% |
Book Value vs Market Value Analysis
This analysis compares Kayne Anderson BDC, Inc.'s book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.96x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 3.15x to 0.96x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2021-12-31 | $4.80 | $15.09 | x |
| 2022-12-31 | $9.11 | $15.09 | x |
| 2023-12-31 | $10.51 | $15.09 | x |
| 2024-12-31 | $18.61 | $15.09 | x |
| 2025-12-31 | $15.80 | $15.09 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Kayne Anderson BDC, Inc. utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 8.44%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 39.74%
- • Asset Turnover: 0.10x
- • Equity Multiplier: 2.06x
- Recent ROE (8.44%) is below the historical average (9.14%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2021 | 7.14% | 77.51% | 0.05x | 1.88x | $-8.91 Million |
| 2022 | 7.73% | 66.74% | 0.06x | 2.02x | $-13.44 Million |
| 2023 | 11.28% | 58.22% | 0.09x | 2.08x | $8.77 Million |
| 2024 | 11.12% | 72.67% | 0.09x | 1.76x | $13.31 Million |
| 2025 | 8.44% | 39.74% | 0.10x | 2.06x | $-17.29 Million |
Industry Comparison
This section compares Kayne Anderson BDC, Inc.'s net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $1,222,611,667
- Average return on equity (ROE) among peers: 5.00%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Kayne Anderson BDC, Inc. (KBDC) | $1.11 Billion | 7.14% | 1.06x | $949.33 Million |
| Acadian Asset Management Inc (AAMI) | $84.00 Million | 95.24% | 7.06x | $1.86 Billion |
| AllianceBernstein Holding L.P. (AB) | $2.07 Billion | 13.23% | 0.00x | $3.60 Billion |
| Associated Capital Group Inc (AC) | $948.70 Million | 4.12% | 0.07x | $78.56 Million |
| Abrdn Emerging Markets Equity Income Fund Inc (AEF) | $79.50 Million | 27.37% | 0.59x | $265.69 Million |
| AgriFORCE Growing Systems Ltd (AGRI) | $2.99 Million | -170.94% | 0.46x | $194.14 Million |
| Alvarium Tiedemann Holdings Inc. (ALTI) | $782.49 Million | -21.16% | 0.62x | $368.87 Million |
| Affiliated Managers Group Inc (AMG) | $962.54 Million | 12.37% | 1.41x | $8.19 Billion |
| Ameriprise Financial Inc (AMP) | $6.55 Billion | 54.41% | 28.15x | $41.87 Billion |
| AMTD IDEA Group (AMTD) | $611.58 Million | 16.58% | 4.02x | $44.19 Million |
| Artisan Partners Asset Management Inc (APAM) | $132.30 Million | 18.75% | 3.39x | $2.65 Billion |
About Kayne Anderson BDC, Inc.
Kayne Anderson BDC, Inc. is business development company and an externally managed, closed-end, non-diversified management investment company that intends to elect to be regulated as a BDC under the 1940 Act. The fund seeks to make investments in middle-market companies. It also makes debt investments in middle-market companies and investing primarily in first lien senior secured, unitranche, and… Read more