Fidus Investment Corporation (FDUS) vs Kayne Anderson BDC, Inc. (KBDC)

Fidus Investment Corporation and Kayne Anderson BDC, Inc. are both Asset Management companies. Kayne Anderson BDC, Inc. is the larger, with a market value of $857.8M against $759.2M — 1.1× the size. Fidus Investment Corporation trades at the lower P/E: 9.2× against 12.0×. Fidus Investment Corporation grew revenue faster over the last twelve months: 11.9% against 4.24%. Fidus Investment Corporation has the higher net margin (45.4% vs 31.5%) and the lower return on invested capital (5.23% vs 5.43%). Across the 20 metrics below, Fidus Investment Corporation leads on 13 and Kayne Anderson BDC, Inc. on 7.

Valuation

Metric FDUS KBDC Asset Management median
P/E 9.16 11.99 14.62
P/S 4.26 3.67 2.97
P/B 0.98 0.82 0.94
Price to free cash flow n/m n/m 8.93
EV/EBITDA 7.90 10.31 10.32
EV/Sales 5.72 8.79 5.72
Earnings yield 10.91% 8.34% 4.53%
Free cash flow yield (29.07%) (0.41%) 4.65%

Profitability

Metric FDUS KBDC Asset Management median
Gross margin 100.00% 84.96% 100.00%
Operating margin 70.64% 83.39% 33.03%
Net margin 45.36% 31.54% 13.53%
Free cash flow margin (123.96%) (1.50%) 12.44%
Return on equity 10.81% 6.72% 4.83%
Return on assets 5.60% 3.24% 1.57%
Return on invested capital 5.23% 5.43% 3.04%

Growth

Metric FDUS KBDC Asset Management median
Revenue growth (TTM) 11.90% 4.24% 6.97%
EPS growth (last fiscal year) (3.33%) (35.75%) —
Revenue growth, 5-year CAGR 12.86% — 12.13%
Net income growth, 5-year CAGR 21.42% 0.00% 0.00%

Health

Metric FDUS KBDC Asset Management median
Debt to equity 0.39 1.16 0.42
Current ratio 0.09 1.25 1.28
Net debt to EBITDA 1.36 5.54 1.06

Dividend

Metric FDUS KBDC Asset Management median
Dividend yield 8.57% — 6.92%
Payout ratio 1.18 — 0.77

Size

Metric FDUS KBDC Asset Management median
Market cap 759.22m 857.83m 721.34m

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