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Crescent Capital BDC (CCAP) investor relations material
Crescent Capital BDC Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q4 2025 net investment income was $0.45 per share, down from $0.46 in Q3, with net income per share rising to $0.23; NAV per share declined to $19.10 from $19.28.
Portfolio remains diversified and fundamentally healthy, with 184 companies across 18 industries and a fair value of $1,569 million.
Board declared a Q1 2026 regular dividend of $0.42 per share, payable April 15, 2026.
Portfolio is defensively positioned, with 91% in senior secured or unitranche first lien investments.
Financial highlights
Net investment income covered the base dividend by 107% in Q4.
Total net assets were $706 million at year-end, with total assets of $1.62 billion.
Debt-to-equity ratio was 1.25x (1.2x net of cash), within the 1.1x-1.3x target range.
Investment portfolio at fair value totaled $1.6 billion across 184 companies at year-end.
Weighted average yield on income-producing securities at cost was 10.0%, with 98% of debt investments floating rate.
Outlook and guidance
Management is reviewing fee structure and base dividend level to ensure long-term earnings durability amid lower rate expectations.
Expect to provide a more detailed update on strategic actions in May 2026.
Portfolio positioned defensively, emphasizing disciplined underwriting and active management.
Sufficient liquidity with $31.5 million in cash and $242 million undrawn debt capacity.
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