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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. In the quarter to June 2026, revenue grew 6.81%, EPS fell 29.0% and free cash flow grew 1,591.2%, each against the same quarter a year earlier. Revenue growth for three consecutive years.

9.14 0.01 −0.11%
Market cap
$208.8M
P/E
6.6×
Fwd P/E
6.2×
Dividend yield
14.9%
F-score
4/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 14.81%

Capital & Financial Ratios $m

Market Cap 208.81
Revenue 59.97
Net Income 31.68
Free Cash Flow (3.02)
Net Debt (335.76)
Current Ratio 8.29
Debt/Equity 0.00
P/E ratio 6.58
Fwd P/E 6.16
P/S ratio 3.48
P/B ratio 0.69
Past 5Y EPS Growth —
This Y EPS Growth 3.45%
Next Y EPS Growth 10.00%
Next Y revenue growth 12.72% (at or above 10%: strong)
Next 5Y EPS Growth 5.86%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 11.63%
10-year low 10-year high
P/S against its own 10 years 0.42%
10-year low 10-year high
P/B against its own 10 years 35.67%
10-year low 10-year high

Dividends

Payout Ratio 0.98
Annual Dividend Rate 1.36
Annual Dividend Yield 14.88%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 1.36
0.34
0.34
0.34
2025 1.36
0.34
0.34
0.34
0.34
2024 1.09
0.25
0.25
0.25
0.34
2023 1.33
0.63
0.70
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 87 299 336 336
Receivables 2 10 5 6
Inventory — — — —
Other — — — —
89 310 342 344
2023 2024 2025 Q'26
Payables — — — —
ST’ Debt — — — —
Other — 1 1 1
3 8 39 41

Compound Annual Growth %

10y 5y 3y
Sales — 457.31% 137.83%
Cash Flow — 0.00% 0.00%
Earnings — 0.00% 158.63%
Book Value — 29.12% 51.95%

Revenue $m

Mar Jun Sep Dec Year
’26 17 14 — — —
’25 12 13 15 14 54
’24 3 3 3 13 22
’23 2 3 3 4 12
’22 — 1 1 2 4
’22 0 — — — 0
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (21) 33 — — —
’25 (7) 2 (1) (14) (20)
’24 2 2 (2) (7) (5)
’23 (3) 0 1 7 6
’22 — (24) 0 (25) (50)
’22 (1) — — — (1)
’22 — — — — (1)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (21) 33 — — —
’25 (7) 2 (1) (14) (20)
’24 2 2 (2) (7) (5)
’23 (3) 0 1 7 6
’22 — (24) 0 (25) (50)
’22 (1) — — — (1)
’22 — — — — (1)
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.37 0.27 — — —
’25 0.33 0.38 0.39 0.36 1.46
’24 0.08 0.21 (0.03) 0.67 0.93
’23 0.38 0.19 0.20 0.40 1.18
’22 — 0.03 0.09 0.24 0.31
’22 (0.06) — — — (0.64)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low — — — — — — 7.70 7.52 7.29 9.70

Analyst estimates 2026–2028

Powerpack
High — — — — — — 15.40 10.47 13.38 12.65
People
People Employees — — — — — — — — — —
Revenue/emp, $m — — — — — — 0.00 0.00 0.00 0.00
Income, $m
Income, $m Revenue — — — — — — 4 12 22 54
Gross margin, % — — — — — — 100.00 100.00 100.00 100.00
EBT — — — — 0 (1) 2 7 9 33
EBT margin, % — — — — 0.00 0.00 54.42 55.55 43.62 60.90
Net income — 0 — — 0 0 2 7 10 33
Depreciation — — — — 0 0 0 (1) (1) (2)
Per share, $
Per share, $ Revenue — — — — — 0.00 0.65 1.92 2.09 2.38
Earnings — — — — — (0.09) 0.31 1.18 0.93 1.46
Cash flow — — — — 0.00 0.01 (7.99) 0.93 (0.49) (0.90)
Capex — — — — 0.00 0.00 0.00 0.00 0.00 0.00
Free cash flow — — — — 0.00 0.01 (7.99) 0.93 (0.49) (0.90)
Book value — — — — 0.00 0.00 13.91 13.77 29.12 13.30
Shares, m — — — — — 6 6 6 10 23
Valuation, ×
Valuation, × P/E — — — — — — 31.11 7.24 13.18 7.06
P/S — — — — — — 14.55 4.41 5.82 4.34
P/B — — — — — — 0.68 0.62 0.42 0.78
EV/Sales — — — — — — (6.60) (2.86) (7.99) (1.85)
EV/FCF — — — — — — 0.54 (5.93) 34.38 4.91
Cash, $m
Cash, $m Operating cash flow — — — — 0 0 (50) 6 (5) (20)
Capex — — — — 0 0 — — — —
Free cash flow — — — — 0 0 (50) 6 (5) (20)
Balance, $m
Balance, $m Working capital — — — — 0 0 86 86 301 303
Total debt — — — — — — — — — —
Net debt — — — — — 0 (85) (87) (299) (336)
Shareholders’ equity — — — — 0 0 86 86 301 303
Returns, %
Returns, % ROA — — — — (115.60) (207.71) 2.24 8.36 4.83 10.22
ROIC — — — — 0.00 0.00 125.31 0.00 297.01 0.00
ROE — — — — 0.00 0.00 2.25 8.53 4.98 11.01
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

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
RWAY Runway Growth Finance Corp. $273.3M 57.5× — (loss-making) +5.35% (above 0%: growing) +44.44% (above 0%: growing) −65,337.04% (below 0%: shrinking) 100.00% 84.24% Compare
SAR Saratoga Investment Corp $236.8M — (loss-making) 10.0× +1.77% (above 0%: growing) n/m −43.85% (below 0%: shrinking) 100.00% 68.55% Compare
LIEN Chicago Atlantic BDC, Inc. $208.8M 6.6× 6.2× +6.81% (above 0%: growing) −28.95% (below 0%: shrinking) +1,591.22% (above 0%: growing) 100.00% 61.95%
PNNT PennantPark Investment Corporation $206.3M 19.6× 10.4× −16.21% (below 0%: shrinking) −41.67% (below 0%: shrinking) −2.70% (below 0%: shrinking) 78.27% 72.21% Compare
SCM Stellus Capital Investment Corporation $205.6M 6.9× 9.7× −13.21% (below 0%: shrinking) +55.56% (above 0%: growing) +41.00% (above 0%: growing) 100.00% 72.26% Compare
TPVG TriplePoint Venture Growth BDC Corp. $183.2M 4.5× 6.2× −4.86% (below 0%: shrinking) −21.21% (below 0%: shrinking) +232.34% (above 0%: growing) 100.00% 75.98% Compare
WHG Westwood Holdings Group Inc $181.4M 20.0× — (loss-making) +9.62% (above 0%: growing) +50.00% (above 0%: growing) −58.51% (below 0%: shrinking) 100.00% 8.14% Compare
NSLR Neostellar Capital Corp. $181.1M 1.3× 2.9× +79.14% (above 0%: growing) n/m −171.41% (below 0%: shrinking) 100.00% (7,413.51%) Compare
WHF WhiteHorse Finance, Inc. $164.5M 9.6× 8.9× −23.72% (below 0%: shrinking) +380.00% (above 0%: growing) −159.82% (below 0%: shrinking) 100.00% 66.34% Compare
Median of peers $194.4M 9.6× 9.3× −1.54% +47.22% −51.18% 100.00% 70.38%

All 120 Asset Management stocks →

Chicago Atlantic BDC, Inc. (LIEN) key facts

  • Strength: Chicago Atlantic BDC, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $54.3 million, up 150.6% from fiscal 2024.
  • Chicago Atlantic BDC, Inc. (LIEN) is an Asset Management company in the Financial sector, listed on Nasdaq.
  • As of October 16, 2026, LIEN traded at $9.14, a market capitalization of $208.8 million.
  • Chicago Atlantic BDC, Inc. pays an annual dividend of $1.36 per share, a yield of 14.9%, with a payout ratio of 97.8%.
  • Return on equity was 11.0% and debt-to-equity 0.00.
  • Its Piotroski F-score is 4 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Chicago Atlantic BDC, Inc. (LIEN) Latest News

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stockrow.com/LIEN · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com