CCAP

MKT CAP:$489M

Crescent Capital BDC, Inc.

Market Cap

$489M

Financial Services·Asset Management·🇺🇸 United States·NASDAQ

Financials·Asset Management·🇺🇸·NASDAQ

Stock Price

$13.50-$0.78 (-5.46%)

Apr 21, 2026

Company Details

Crescent Capital BDC, Inc. is as a business development company private equity / buyouts and loan fund. It specializes in directly investing. It specializes in middle market. The fund seeks to invest in United States.

CEO

Jason A. Breaux

IPO Date

Feb 3, 2020

Website

www.crescentbdc.com

Key Metrics TTM

Revenue

$138M

-18.6% YoY

Net Income

$36M

EPS (Diluted)

$1.55

Free Cash Flow

$28M

Revenue / Share

$3.73

Gross Margin

34.2%

Operating Margin

27.4%

Net Margin

26.2%

FCF Margin

20.2%

P/S

3.5x

P/E

13.5x

Earnings Reports

Q4 2025

May 13, 2026

PENDING

Q3 2025

Nov 12, 2025

$36M+9.4%EPS $0.19

Q1 2025

May 14, 2025

$42M-5.9%EPS $0.45

FY 2024

Feb 19, 2025

$142M-3.3%EPS $1.99

Q4 2024

Feb 19, 2025

$27M-44.6%EPS $0.27

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 21	$23M	$19M	$17M
Q4 21	$19M	$14M	$14M
Q1 22	$23M	$18M	$16M
Q2 22	$7M	$679.0K	-$607.0K
Q3 22	$8M	-$492.0K	-$2M
Q4 22	$15M	$5M	$3M
Q1 23	$21M	$10M	$8M
Q2 23	$39M	$25M	$22M
Q3 23	$39M	$25M	$23M
Q4 23	$48M	$33M	$31M
Q1 24	$45M	$30M	$28M
Q2 24	$38M	$23M	$21M
Q3 24	$33M	$18M	$16M
Q4 24	$27M	$12M	$10M
Q1 25	$42M	$7M	$4M
Q3 25	$36M	$10M	$7M

Valuation

Quarter	P/S	P/E
Q3 21	4.6x	5.2x
Q4 21	5.5x	6.6x
Q1 22	5.5x	7.0x
Q2 22	6.9x	10.9x
Q3 22	8.3x	17.8x
Q4 22	8.6x	29.0x
Q1 23	10.1x	71.5x
Q2 23	7.0x	18.9x
Q3 23	5.4x	11.1x
Q4 23	4.3x	7.6x
Q1 24	3.7x	6.1x
Q2 24	4.1x	6.8x
Q3 24	4.2x	7.3x
Q4 24	5.1x	9.9x
Q1 25	4.5x	12.8x
Q3 25	4.0x	15.2x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 21	-$6M	-$6M
Q4 21	$14M	$14M
Q1 22	$11M	$11M
Q2 22	$8M	$8M
Q3 22	$12M	$12M
Q4 22	$16M	$16M
Q1 23	$16M	$16M
Q2 23	$30M	$30M
Q3 23	$4M	$4M
Q4 23	$37M	$37M
Q1 24	$15M	$15M
Q2 24	$22M	$22M
Q3 24	$27M	$27M
Q4 24	-$3M	-$3M
Q1 25	-$15M	-$15M
Q3 25	$19M	$19M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 21	-42.7%	+336.4%
Q4 21	-48.8%	+160.4%
Q1 22	-3.1%	+241.7%
Q2 22	-81.7%	+263.8%
Q3 22	-67.2%	+71.0%
Q4 22	-19.5%	+184.5%
Q1 23	-7.9%	+102.5%
Q2 23	+490.7%	+129.5%
Q3 23	+426.1%	+70.5%
Q4 23	+218.7%	+38.9%
Q1 24	+111.2%	+24.7%
Q2 24	-2.5%	+4.3%
Q3 24	-15.6%	+5.7%
Q4 24	-44.6%	-2.9%
Q1 25	-5.9%	+125.1%
Q3 25	-3.6%	+69.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 21	$0	0.0%
Q4 21	$0	0.0%
Q1 22	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q4 22	$0	0.0%
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%
Q3 25	$0	0.0%

OpEx Breakdown

Quarter	G&A
Q3 21	$1M
Q4 21	$919.0K
Q1 22	$1M
Q2 22	$1M
Q3 22	$1M
Q4 22	$1M
Q1 23	$1M
Q2 23	$1M
Q3 23	$1M
Q4 23	$1M
Q1 24	$1M
Q2 24	$1M
Q3 24	$1M
Q4 24	$1M
Q1 25	$2M
Q3 25	$2M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 21	$10M	$0	$10M
Q1 22	$7M	$0	$7M
Q2 22	$9M	$0	$9M
Q3 22	$13M	$0	$13M
Q4 22	$6M	$0	$6M
Q1 23	$21M	$0	$21M
Q2 23	$8M	$0	$8M
Q3 23	$6M	$0	$6M
Q4 23	$8M	$0	$8M
Q1 24	$7M	$0	$7M
Q2 24	$11M	$0	$11M
Q3 24	$17M	$0	$17M
Q4 24	$10M	$0	$10M
Q1 25	$12M	$0	$12M
Q2 25	$10M	$0	$10M
Q3 25	$6M	$0	$6M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 21	28M	0.0%	0.0%
Q4 21	28M	0.0%	0.0%
Q1 22	31M	+9.7%	+9.7%
Q2 22	31M	0.0%	+9.7%
Q3 22	31M	0.0%	+9.7%
Q4 22	31M	0.0%	+9.7%
Q1 23	32M	+5.1%	+5.1%
Q2 23	37M	+14.2%	+20.0%
Q3 23	37M	0.0%	+20.0%
Q4 23	37M	+0.3%	+20.4%
Q1 24	37M	-0.3%	+14.2%
Q2 24	37M	0.0%	0.0%
Q3 24	37M	0.0%	0.0%
Q4 24	37M	0.0%	-0.3%
Q1 25	37M	0.0%	0.0%
Q3 25	37M	-0.0%	-0.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 21	$127.0K	180
Q4 21	$93.3K	200
Q1 22	$115.1K	200
Q2 22	$32.8K	200
Q3 22	$37.5K	200
Q4 22	$75.1K	200
Q1 23	$106.0K	200
Q2 23	$194.0K	200
Q3 23	$197.3K	200
Q4 23	$239.4K	200
Q1 24	$224.0K	200
Q2 24	$189.1K	200
Q3 24	$166.6K	200
Q4 24	$115.3K	230
Q1 25	$183.2K	230
Q3 25	$158.5K	230

Revenue / Employee