# Crescent Capital BDC, Inc. (CCAP)

> Source: Nexqual · https://nexqual.com/CCAP · data as of 2026-10-23 17:19 UTC · cite as "Nexqual, Crescent Capital BDC, Inc. (CCAP), nexqual.com/CCAP" · informational, not investment advice.

**Price:** USD 8.62 (-1.60% today) · US market open, as of October 23, 2026 at 17:19 UTC; quotes may be delayed. Prev close 8.76 · day 8.57–8.8 · 52w 8.4–15.18 · market cap $318M · NGM

## Key facts
- Insider open-market sales, last ~7 months: 6 Form 4 filings, $5.5M; 0 not under a Rule 10b5-1 plan ($0K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 4 Form 4 filings, $1.1M; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Hold (mean 2.57 on a 1–5 scale) (7 analysts), mean target USD 11.96 (range 10–14).
- Total return with dividends: 1Y -30.8% vs S&P 500 +14.4%; 5Y -22.2% vs S&P 500 +77.0%.
- Next earnings: 2026-11-11, EPS estimate USD 0.35, revenue estimate $36.4M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Operating income | -$44.1M | -$56.8M | -$100M | -$107M | -$98.7M | -$92.6M |
| Net income | $83.6M | $15.5M | $83.8M | $73.6M | $34.5M | -$3.2M |
| EPS (diluted) | $1.67 | $1.93 | $2.30 | $2.40 | $1.81 | — |
| Cash + short-term investments | $10.1M | $6.4M | $7.8M | $10.1M | $5.0M | — |
| Total debt | $631M | $654M | $845M | $876M | $874M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/B 0.5x · Earnings yield -1.00% · Dividend yield (paid, TTM) 20.51% · Net debt $907M · EV $1.22B
P/E at fiscal year-ends: Dec 2025 15.1x, Dec 2024 9.7x, Dec 2023 7.4x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
6 of 6 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-08…2026-09-09 | Fidelity & Guaranty Life Insurance Co |  | 265,490 | $2.7M | 6.7% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-09-03…2026-09-04 | Fidelity & Guaranty Life Insurance Co |  | 15,482 | $161K | 0.4% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-09-01…2026-09-02 | Fidelity & Guaranty Life Insurance Co |  | 56,285 | $589K | 1.4% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-08-28…2026-08-31 | Fidelity & Guaranty Life Insurance Co |  | 55,000 | $584K | 1.4% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-08-26…2026-08-27 | Fidelity & Guaranty Life Insurance Co |  | 59,286 | $629K | 1.4% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-08-24…2026-08-25 | Fidelity & Guaranty Life Insurance Co |  | 73,457 | $788K | 1.7% | Yes | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
4 purchases, $1.1M. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-08-19 | Chung Henry | President | 2,500 | $27K | 10.89 | Too little history (no open-market trades in 2023–2025) |
| 2026-05-20 | Breaux Jason | Chief Executive Officer | 5,000 | $56K | 11.19 | Too little history (no open-market trades in 2023–2025) |
| 2026-05-19 | Strandberg Steven F. | Director | 85,000 | $958K | 11.28 | Too little history (no open-market trades in 2023–2025) |
| 2026-05-18 | Lombard Gerhard | Chief Financial Officer | 1,000 | $11K | 11.12 | Too little history (no open-market trades in 2023 or 2024) |

## Analysts
Consensus Hold (mean 2.57 on a 1–5 scale), 7 analysts; mean target USD 11.96 (low 10, high 14).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-10 | B of A Securities | Downgrade | Buy → Neutral | $13 → $10.25 |
| 2026-08-17 | Keefe, Bruyette & Woods | Downgrade | Outperform → Market Perform | $13 → $12 |
| 2026-08-12 | Ladenburg Thalmann | Target lowered | Buy | $15 → $14 |
| 2026-08-12 | B. Riley Securities | Target lowered | Neutral | $13.5 → $12.5 |
| 2026-08-12 | Wells Fargo | Target lowered | Equal-Weight | $12 → $11 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -30.8% | -22.2% |
| S&P 500 (SPY) | +14.4% | +77.0% |
| Per year | -30.8% | -4.9% |
| Volatility (annualized) | 26.8% | 24.2% |
| Max drawdown | -36.3% (Jan 2026→Oct 2026) | -45.7% (Feb 2025→Oct 2026) |

## Peers (Asset Management)
BXSL (Blackstone Secured Lending Fund) USD 23.43 -2.03% · VCTR (Victory Capital Holdings, Inc. ) USD 106.67 -0.67% · PDI (PIMCO Dynamic Income Fund) USD 14.31 +0.06% · AMG (Affiliated Managers Group, Inc.) USD 388.6 -1.75% · SEIC (SEI Investments Company) USD 102.97 -1.46% · IVZ (Invesco Ltd) USD 28.28 -1.79%

## More
Full page: https://nexqual.com/CCAP · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in CCAP's own 10-K filed 2026-02-25 (https://www.sec.gov/Archives/edgar/data/1633336/000119312526071922/ccap-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | SUN LIFE FINANCIAL INC (SLF) | "On January 5, 2021, Sun Life Financial Inc. (together with its subsidiaries and joint ventures, "Sun Life") acquired a majority interest in Crescent (the "Sun Life Transaction")." |
| Partner | Crescent Capital | "We have entered into a license agreement with Crescent under which Crescent granted us a non-exclusive, royalty-free license to use the name "Crescent Capital"." |

## Company outlook (8-K filed 2026-08-10)

- "Contact: Dan McMahon daniel.mcmahon@crescentcap.com 212-364-0149 Forward-Looking Statements This press release, and other statements that Crescent BDC may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to Crescent BDC's future financial or business performance, strategies or expectations."
- "Forward-looking statements speak only as of the date they are made, and Crescent BDC assumes no duty to and does not undertake to update forward-looking statements."
- "(3) the impact of investments that we expect to make;"
- "(7) our expected financings and investments;"

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.35 | $0.38 | -6.7% | $36.4M | 7 |
| Next quarter (ends 2026-12-31) | $0.36 | $0.38 | -6.0% | $36.4M | 7 |
| Current fiscal year (ends 2026-12-31) | $1.48 | $1.55 | -4.1% | $147.0M | 7 |
| Next fiscal year (ends 2027-12-31) | $1.41 | $1.49 | -5.7% | $144.0M | 7 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-12-18 (includes earnings 2026-11-11): ±14.8%; last 8 reports averaged ±4.6%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-12-18 | 56 | 38.6% | ±14.8% |
| 2027-03-19 | 147 | 29.7% | ±22.2% |