BBDC (Barings BDC, Inc.) Stock Financials & Earnings | Market Cap Arena

BBDC (Barings BDC, Inc.) Stock Financials & Earnings | Market Cap Arena

BBDCBarings BDC, Inc.

Mkt Cap$866M

Financial Services·Financial - Credit Services·🇺🇸 United States·NYSE

Revenue (TTM)$229M

Net Income (TTM)$102M

EPS (TTM)$0.97

Free Cash Flow (TTM)$250M

Gross Margin80.4%

Op. Margin64.9%

Net Margin44.5%

FCF Margin109.2%

P/S Ratio (TTM)3.8x

P/E Ratio (TTM)8.5x

YoY Rev Growth+8.7%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$67M	$67M	$47M
Q2 23	$75M	$75M	$55M
Q3 23	$71M	$71M	$56M
Q4 23	$76M	$76M	$57M
Q1 24	$70M	$70M	$51M
Q2 24	$43M	$22M	$20M
Q3 24	$48M	$25M	$23M
Q4 24	$50M	$29M	$27M
Q1 25	$55M	$35M	$33M
Q2 25	$46M	$24M	$21M
Q3 25	$71M	$57M	$48M
Q4 25	$57M	$69M	$47M

Revenue Breakdown

Valuation

Quarter	P/S	P/E
Q1 23	3.6x	37.2x
Q2 23	3.3x	9.8x
Q3 23	3.1x	8.9x
Q4 23	3.0x	6.8x
Q1 24	3.0x	6.5x
Q2 24	3.3x	7.8x
Q3 24	3.7x	7.5x
Q4 24	4.1x	7.9x
Q1 25	4.4x	8.8x
Q2 25	4.4x	8.7x
Q3 25	3.9x	8.5x
Q4 25	3.8x	8.5x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	-$92M	-$92M
Q2 23	$65M	$65M
Q3 23	-$35M	-$35M
Q4 23	$139M	$139M
Q1 24	$5M	$5M
Q2 24	$138M	$138M
Q3 24	$20M	$20M
Q4 24	-$45M	-$45M
Q1 25	-$8M	-$8M
Q2 25	$37M	$37M
Q3 25	$16M	$16M
Q4 25	$205M	$205M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$0
Q2 23	$0
Q3 23	$0
Q4 23	$0
Q1 24	$0
Q2 24	$0
Q3 24	$0
Q4 24	$0
Q1 25	$0
Q2 25	$0
Q3 25	$0
Q4 25	$0

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+53.6%	+54.4%
Q2 23	+35.5%	+94.1%
Q3 23	+25.8%	+17.2%
Q4 23	+19.5%	+101.1%
Q1 24	+3.9%	-5.3%
Q2 24	-43.1%	+11.9%
Q3 24	-32.2%	+63.4%
Q4 24	-33.8%	+26.8%
Q1 25	-21.4%	+14.5%
Q2 25	+6.9%	+5.9%
Q3 25	+47.8%	-7.3%
Q4 25	+14.5%	-54.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A
Q1 23	$20M
Q2 23	$21M
Q3 23	$15M
Q4 23	$19M
Q1 24	$19M
Q2 24	$2M
Q3 24	$2M
Q4 24	$2M
Q1 25	$2M
Q2 25	$2M
Q3 25	$16M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$55M	$0	$55M
Q2 23	$80M	$0	$80M
Q3 23	$50M	$0	$50M
Q4 23	$71M	$0	$71M
Q1 24	$51M	$0	$51M
Q2 24	$69M	$0	$69M
Q3 24	$63M	$0	$63M
Q4 24	$78M	$0	$78M
Q1 25	$93M	$0	$93M
Q2 25	$45M	$0	$45M
Q3 25	$70M	$0	$70M
Q4 25	$67M	$0	$67M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	108M	-0.6%
Q2 23	107M	-0.5%
Q3 23	107M	-0.8%
Q4 23	106M	-0.1%
Q1 24	106M	-0.3%
Q2 24	106M	-0.1%
Q3 24	106M	-0.2%
Q4 24	106M	-0.2%
Q1 25	105M	-0.1%
Q2 25	105M	-0.1%
Q3 25	105M	-0.1%
Q4 25	105M	+0.0%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$4M	25
FY 15	$5M	26
FY 16	$4M	26
FY 17	$5M	27
FY 18	$40M	2
FY 19	$38M	2
FY 20	$18M	2
FY 21	$60M	2
FY 22	$110M	2
FY 23	$145M	2
FY 24	$105M	2
FY 25	$124M	2