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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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