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Business Development Companies
BDCs provide investors with exposure to debt and equity investments typically closed to investments in predominately private companies.
​
Created by the U.S. Congress in 1980, BDCs are regulated investment companies (RICs), they must distribute over 90% of their profits to shareholders, and in doing so, they do not pay corporate income tax on profits before distribution; as a result, investors experience above average dividend yields.
As of 31-May-2022
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
Apollo Investment Corp
AINV
12.40 $
1.24
10.00%
1,004,832.0
15.36
10.96
9.87 - 12.06
Overvalued
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
Ares Capital Corp
ARCC
19.38 $
1.68
8.67%
8,868,000.0
20.92
21.95
19.75 - 24.14
Undervalued
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
Barings BDC Inc.
BBDC
10.36 $
0.96
9.27%
741,930.8
15.27
12.08
10.87 - 13.28
Undervalued
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
Bain Capital Specialty Finance
BCSF
14.61 $
1.36
9.31%
1,100,006.0
17.04
15.58
14.03 - 17.14
Fair Value
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
BlackRock Capital Investment
BKCC
4.05 $
0.4
9.88%
349,652.0
4.03
4.04
3.64 - 4.45
Fair Value
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
Crescent Capital BDC Inc.
CCAP
17.41 $
1.64
9.42%
652,285.0
23.57
15.16
13.64 - 16.67
Overvalued
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
Cion Investment Corporation
CION
10.99 $
1.12
10.19%
930,512.0
16.36
12.67
11.40 - 13.94
Undervalued
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
Capital Southwest Corp
CSWC
22.35 $
1.92
8.59%
336,251.0
17.64
26.12
23.51 - 28.73
Undervalued
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
Fidus Investment Corp
FDUS
19.81 $
1.44
7.27%
487,764.0
21.74
24.12
21.70 - 26.53
Undervalued
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
FS KKR Capital Corp
FSK
21.62 $
2.72
12.58%
7,730,000.0
62.19
29.42
26.48 - 32.36
Undervalued
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
Gladstone Investment Corp
GAIN
15.23 $
0.9
5.91%
445,830.0
13.44
10.69
9.62 - 11.76
Overvalued
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
Golub Capital BDC Inc
GBDC
14.14 $
1.2
8.49%
2,582,692.0
15.37
15.44
13.89 - 16.98
Fair Value
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
Great Elm Capital Corp
GECC
12.50 $
1.8
14.40%
74,556.0
33.58
-34.15
-30.74 - -37.57
Overvalued
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
Gladstone Capital Corp
GLAD
11.47 $
0.81
7.06%
318,439.0
9.58
11.6
10.44 - 12.76
Fair Value
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
Goldman Sachs GDC Inc
GSBD
18.09 $
1.8
9.95%
1,614,400.0
29.93
21.66
19.50 - 23.83
Undervalued
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
Horizon Technology Finance
HRZN
12.29 $
1.2
9.76%
245,335.0
14
30.54
27.49 - 33.60
Undervalued
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
Hercules Tech Growth Capital
HTGC
14.08 $
1.32
9.38%
1,308,547.0
11.66
11.19
10.07 - 12.31
Overvalued
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
Investcorp Credit Management
ICMB
4.76 $
0.6
12.61%
96,355.9
7.31
4.49
4.04 - 4.94
Fair Value
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
Main Street Capital Corp
MAIN
38.13 $
2.58
6.77%
1,788,846.0
27.22
50.09
45.08 - 55.10
Undervalued
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
Monroe Capital Corp
MRCC
10.20 $
1
9.80%
249,471.0
11.93
11
9.90 - 12.10
Fair Value
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
Newtek Business Services
NEWT
24.31 $
3.35
13.78%
403,887.0
19.1
33.12
29.80 - 36.43
Undervalued
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
New Mountain Finance Corp
NMFC
12.93 $
1.2
9.28%
1,321,245.0
12
13.04
11.74 - 14.35
Fair Value
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
Oaktree Specialty Lending
OCSL
6.94 $
0.66
9.51%
1,312,823.0
8.1
7.44
6.69 - 8.18
Fair Value
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
OFS Capital Corp
OFS
12.71 $
1.16
9.13%
203,744.0
15.22
12.64
11.37 - 13.90
Fair Value
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
Owl Rock Capital
ORCC
13.65 $
1.24
9.08%
5,937,877.0
15.28
14.23
12.81 - 15.66
Fair Value
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
Oxford Square Capital Corp
OXSQ
4.05 $
0.42
10.37%
244,595.1
4.94
1.82
1.64 - 2.00
Overvalued
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
Pennantpark Floating Rate Cap
PFLT
11.75 $
1.14
9.70%
490,611.3
12.65
12.78
11.50 - 14.06
Fair Value
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
Pennantpark Investment Corp
PNNT
7.08 $
0.58
8.19%
660,144.1
9.87
6.94
6.24 - 7.63
Fair Value
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
Prospect Capital Corporation
PSEC
7.69 $
0.72
9.36%
3,945,517.0
10.33
8.26
7.43 - 9.09
Fair Value
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
Portman Ridge Finance Corp
PTMN
22.37 $
2.52
11.27%
280,122.0
56.02
16.42
14.77 - 18.06
Overvalued
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
Rand Capital Corp
RAND
15.03 $
0.6
3.99%
60,745.4
26.76
0.88
0.79 - 0.96
Overvalued
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
Saratoga Investment Corp
SAR
26.57 $
2.11
7.94%
355,780.5
31.79
27.32
24.59 - 30.06
Fair Value
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
Stellus Capital Investment Corp
SCM
12.69 $
1.12
8.83%
-488,289.2
-25.08
17.47
15.72 - 19.21
Undervalued
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
SLR Capital Ltd.
SLRC
15.90 $
1.64
10.31%
842,281.0
0.97
0.77
0.69 - 0.85
Overvalued
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
Sutter Rock Capital Corp
SSSS
7.65 $
5.11
66.80%
364,846.6
16.74
10.28
9.25 - 11.31
Undervalued
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
BlackRock TCP Capital Corp
TCPC
13.43 $
1.2
8.94%
829,456.6
14.3
12.23
11.01 - 13.46
Fair Value
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
TriplePoint Venture Growth
TPVG
14.89 $
1.44
9.67%
434,491.0
14.21
20.13
18.11 - 22.14
Undervalued
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
Trinity Capital Inc
TRIN
16.63 $
1.6
9.62%
446,533.0
0.7
1.12
1.01 - 1.23
Overvalued
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
Sixth Street Specialty Lending Inc
TSLX
20.69 $
1.64
7.93%
1,275,848.0
18.98
25.32
22.79 - 27.85
Undervalued
Business Development Company
Market Price
Dividend & Yield
Net Asset Value (NAV)
NAV
per Share
Implied
Share Price
Target Price
Analysis
WhiteHorse Finance, Inc.
WHF
14.17 $
1.42
10.02%
349,751.0
17.02
13.69
12.32 - 15.06
Fair Value
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