Crescent Capital BDC, Inc. (CCAP) — Dividend Yield, NAV & Valuation Analysis
CCAP · NASDAQ
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Overview
Crescent Capital BDC, Inc. is an externally managed BDC advised by Crescent Capital Group, specializing in senior secured first lien and unitranche loans to U.S. middle-market companies. CCAP targets borrowers with EBITDA between $5 million and $50 million and structures floating-rate instruments designed to perform across interest-rate cycles. Cresents global credit platform provides institutional sourcing capabilities to the BDC.
Key Metrics
| Metric | Value |
|---|---|
| 1-Year Total Return | 9.2% |
| 3-Year Total Return | 24.1% |
| 5-Year Total Return | 32.2% |
| Expense Ratio | 9.1% |
| Leverage Ratio | 1.18x |
| Portfolio Companies | 120 |
| Total Assets | $1.4B |
Discount / Premium to NAV
| Stock Price | $11.1 |
| NAV per Share | $19.3 |
| Premium / (Discount) to NAV | -42.5% |
| Implied per-share NAV gap | $8.2 |
The premium / discount to NAV compares the current stock price to the per-share net asset value of Crescent Capital BDC, Inc.'s investment portfolio. A negative reading (a discount) means the market is pricing CCAP below the value of its underlying assets and is one of the most-watched valuation metrics for any BDC. A positive reading (a premium) means the market is paying a premium over the stated NAV, often reflecting confidence in future dividend coverage and portfolio credit quality. Crescent Capital BDC, Inc. currently trades at a -42.5% discount to NAV.
Investment Strategy
Crescent Capital BDC, Inc. focuses on senior secured loans, unitranche debt, mezzanine debt in the healthcare, technology, business services, consumer products sectors. The company targets lower middle-market companies and maintains a portfolio of 120 investments totaling $1.4B in assets.
Management
CEO: Gerhard J. Eschelbeck | Employees: 40
Suitability
CCAP is suitable for income-focused investors seeking quarterly dividend income with a 12.1% yield. The BDC's focus on senior secured loans provides defensive portfolio characteristics. Investors should consider their risk tolerance and investment objectives before investing.