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Friday 6 November 2026
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Chicago Atlantic BDC, Inc.
LIEN Financial Asset Management
Chicago Atlantic BDC, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $54.3 million, up 150.6% from fiscal 2024.
- Revenue
- +6.81%
- EPS
- −29.0%
- Free cash flow
- +1,591.2%
Quarter to June 2026, against a year earlier
9.06
0.14
−1.52%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | 4 | 12 | 22 | 54 | 60 | +137.8% | 61 | 68 | 80 | +14.0% | |
| Gross margin, % | — | — | — | — | — | — | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 0.0 pt | ||||||
| EBT | — | — | — | — | 0 | (1) | 2 | 7 | 9 | 33 | 35 | n/m | ||||||
| EBT margin, % | — | — | — | — | 0.00 | 0.00 | 54.42 | 55.55 | 43.62 | 60.90 | 58.98 | +60.9 pt | ||||||
| Net income | — | 0 | — | — | 0 | 0 | 2 | 7 | 10 | 33 | 32 | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | 0.00 | 0.65 | 1.92 | 2.09 | 2.38 | 2.63 | n/m | |||||
| Earnings | — | — | — | — | — | (0.09) | 0.31 | 1.18 | 0.93 | 1.46 | 1.39 | n/m | ||||||
| Cash flow | — | — | — | — | 0.00 | 0.01 | (7.99) | 0.93 | (0.49) | (0.90) | (0.13) | n/m | ||||||
| Capex | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | n/m | ||||||
| Free cash flow | — | — | — | — | 0.00 | 0.01 | (7.99) | 0.93 | (0.49) | (0.90) | (0.13) | n/m | ||||||
| Book value | — | — | — | — | 0.00 | 0.00 | 13.91 | 13.77 | 29.12 | 13.30 | 13.26 | n/m | ||||||
| Shares, m | — | — | — | — | — | 6 | 6 | 6 | 10 | 23 | 23 | +39.2% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | 31.11 | 7.24 | 19.95 | 7.06 | 6.52 | 16.3 | |||||
| P/S | — | — | — | — | — | — | 14.55 | 4.41 | 5.82 | 4.34 | 3.45 | 7.3 | ||||||
| P/B | — | — | — | — | — | — | 0.68 | 0.62 | 0.42 | 0.78 | 0.68 | 0.6 | ||||||
| EV/Sales | — | — | — | — | — | — | (6.60) | (2.86) | (7.99) | (1.85) | — | (4.8) | ||||||
| EV/FCF | — | — | — | — | — | — | 0.54 | (5.93) | 34.38 | 4.91 | — | 8.5 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | 0 | 0 | (50) | 6 | (5) | (20) | (3) | n/m | |||||
| Capex | — | — | — | — | 0 | 0 | — | — | — | — | — | n/m | ||||||
| Free cash flow | — | — | — | — | 0 | 0 | (50) | 6 | (5) | (20) | (3) | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | 0 | 0 | 86 | 86 | 301 | 303 | 302 | n/m | |||||
| Net debt | — | — | — | — | — | 0 | (85) | (87) | (299) | (336) | (336) | +1,479.7% | ||||||
| Shareholders’ equity | — | — | — | — | 0 | 0 | 86 | 86 | 301 | 303 | 302 | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | (115.60) | (207.71) | 2.24 | 8.36 | 4.83 | 10.22 | 9.38 | +125.8 pt | |||||
| ROIC | — | — | — | — | 0.00 | 0.00 | 125.31 | 0.00 | 297.01 | 0.00 | 0.00 | 0.0 pt | ||||||
| ROE | — | — | — | — | 0.00 | 0.00 | 2.25 | 8.53 | 4.98 | 11.01 | 10.48 | +11.0 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | — | — | — | — | — | — | |||||
| Revenue/emp, $m | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026
Chicago Atlantic BDC, Inc. vs peers in Asset Management (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| HRZN Horizon Technology Finance Corporation | $265.5M | — (loss-making) | — (loss-making) | +2.14% (above 0%: growing) | n/m | −97.72% (below 0%: shrinking) | 100.00% | 93.70% | Compare |
| PNNT PennantPark Investment Corporation | $212.9M | 20.9× | 9.6× | −16.21% (below 0%: shrinking) | −41.67% (below 0%: shrinking) | −2.70% (below 0%: shrinking) | 78.27% | 72.21% | Compare |
| LIEN Chicago Atlantic BDC, Inc. | $207.4M | 6.5× | 6.5× | +6.81% (above 0%: growing) | −28.95% (below 0%: shrinking) | +1,591.22% (above 0%: growing) | 100.00% | 61.95% | |
| SCM Stellus Capital Investment Corporation | $205.6M | 7.1× | 6.1× | −13.21% (below 0%: shrinking) | +55.56% (above 0%: growing) | +41.00% (above 0%: growing) | 100.00% | 72.26% | Compare |
| SAR Saratoga Investment Corp | $200.7M | — (loss-making) | 108× | +1.77% (above 0%: growing) | n/m | −43.85% (below 0%: shrinking) | 100.00% | 68.55% | Compare |
| TPVG TriplePoint Venture Growth BDC Corp. | $181.6M | 4.7× | 5.2× | −10.96% (below 0%: shrinking) | −25.00% (below 0%: shrinking) | +184.88% (above 0%: growing) | 100.00% | 0.00% | Compare |
| WHF WhiteHorse Finance, Inc. | $177.0M | 10.4× | 8.3× | −23.72% (below 0%: shrinking) | +380.00% (above 0%: growing) | −159.82% (below 0%: shrinking) | 100.00% | 66.34% | Compare |
| WHG Westwood Holdings Group Inc | $175.5M | 22.0× | — (loss-making) | +9.40% (above 0%: growing) | −18.18% (below 0%: shrinking) | −29.81% (below 0%: shrinking) | 100.00% | 5.20% | Compare |
| NSLR Neostellar Capital Corp. | $148.3M | 1.5× | 1.3× | +79.14% (above 0%: growing) | n/m | +8,274.08% (above 0%: growing) | 100.00% | 0.00% | Compare |
| Median of peers | $191.1M | 8.8× | 7.2× | −4.60% | −18.18% | −16.25% | 100.00% | 67.45% |