--- title: "Kayne Anderson BDC | 10-Q: FY2026 Q1 Revenue: USD 57.33 B" type: "News" locale: "en" url: "https://longbridge.com/en/news/285991157.md" datetime: "2026-05-11T20:23:11.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285991157.md) - [en](https://longbridge.com/en/news/285991157.md) - [zh-HK](https://longbridge.com/zh-HK/news/285991157.md) --- # Kayne Anderson BDC | 10-Q: FY2026 Q1 Revenue: USD 57.33 B Revenue: As of FY2026 Q1, the actual value is USD 57.33 B. EPS: As of FY2026 Q1, the actual value is USD 0.26. EBIT: As of FY2026 Q1, the actual value is USD -9.257 B. ### Consolidated Statements of Assets and Liabilities (Amounts in $000s) #### Investments, at Fair Value - Non-controlled, non-affiliated investments: $2,058,477 as of March 31, 2026, compared to $2,084,737 as of December 31, 2025. - Non-controlled, affiliated investments: $125,491 as of March 31, 2026, compared to $113,684 as of December 31, 2025. - Controlled, affiliated investments: $10,336 as of March 31, 2026, compared to $0 as of December 31, 2025. - Investments in money market funds: $18,348 as of March 31, 2026, compared to $25,409 as of December 31, 2025. #### Total Assets - Total assets were $2,252,359 as of March 31, 2026, compared to $2,286,702 as of December 31, 2025. #### Liabilities - Corporate Credit Facility: $115,000 as of March 31, 2026, compared to $135,000 as of December 31, 2025. - Revolving Funding Facility: $553,000 as of March 31, 2026, compared to $525,000 as of December 31, 2025. - Revolving Funding Facility II: $195,000 as of March 31, 2026, which remained unchanged from December 31, 2025. - Notes: $273,822 as of March 31, 2026, compared to $274,701 as of December 31, 2025. - Distributions payable: $26,595 as of March 31, 2026, compared to $27,213 as of December 31, 2025. - Management fee payable: $5,416 as of March 31, 2026, compared to $5,613 as of December 31, 2025. - Incentive fee payable: $3,111 as of March 31, 2026, compared to $3,935 as of December 31, 2025. #### Total Liabilities - Total liabilities were $1,173,167 as of March 31, 2026, compared to $1,176,771 as of December 31, 2025. #### Total Net Assets - Total net assets were $1,079,192 as of March 31, 2026, compared to $1,109,931 as of December 31, 2025. #### Net Asset Value Per Common Share - Net asset value per common share was $16.23 as of March 31, 2026, compared to $16.32 as of December 31, 2025. ### Consolidated Statements of Operations (For the three months ended March 31, 2026 vs. 2025) (Amounts in $000s) #### Total Investment Income - Total investment income was $57,325 for 2026, an increase from $55,245 for 2025. - Interest income from non-controlled, non-affiliated investments: $49,746 for 2026, a decrease from $54,708 for 2025. - Interest income from non-controlled, affiliated investments: $2,994 for 2026, compared to $0 for 2025. - Payment-in-kind interest income from non-controlled, non-affiliated investments: $4,273 for 2026, an increase from $306 for 2025. - Dividend income: $312 for 2026, an increase from $231 for 2025. #### Total Expenses - Total expenses were $28,429 for 2026, an increase from $27,787 for 2025. - Management fees: $5,416 for 2026, compared to $5,131 for 2025. - Incentive fees: $3,111 for 2026, a decrease from $4,490 for 2025. - Interest expense: $18,860 for 2026, an increase from $17,125 for 2025. - Excise tax expense (benefit): - $11 for 2026, compared to - $43 for 2025. #### Net Investment Income (Loss) - Net investment income was $28,896 for 2026, an increase from $28,741 for 2025. #### Realized and Unrealized Gains (Losses) on Investments - Net realized gains (losses): - $2,247 for 2026, compared to $566 for 2025. - Net change in unrealized gains (losses): - $9,021 for 2026, compared to - $6,511 for 2025. - Total realized and unrealized gains (losses): - $11,268 for 2026, compared to - $5,945 for 2025. #### Net Increase in Net Assets Resulting from Operations - Net increase in net assets resulting from operations was $17,241 for 2026, a decrease from $22,215 for 2025. ### Consolidated Statements of Cash Flows (For the three months ended March 31, 2026 vs. 2025) (Amounts in $000s) #### Cash Flows from Operating Activities - Net cash provided by (used in) operating activities: $39,806 for 2026, compared to - $127,240 for 2025. #### Cash Flows from Financing Activities - Net cash provided by (used in) financing activities: - $43,519 for 2026, compared to $122,229 for 2025. #### Net Increase (Decrease) in Cash - Net increase (decrease) in cash: - $3,713 for 2026, compared to - $5,011 for 2025. ### Consolidated Schedule of Investments (As of March 31, 2026) #### Debt and Equity Investments by Sector (Fair Value as percentage of Net Assets) - Commercial services & supplies: 23.6% ($254,341 thousand). - Food products: 20.4% ($220,523 thousand). - Containers & packaging: 20.0% ($215,388 thousand). - Health care providers & services: 10.6% ($114,675 thousand). - Financial services: 9.7% ($105,000 thousand). - Aerospace & defense: 7.7% ($82,848 thousand). - Chemicals: 7.5% ($81,324 thousand). - Automobile components: 3.6% ($38,191 thousand). - Building products: 3.3% ($35,457 thousand). - Health care equipment & supplies: 2.2% ($23,509 thousand). - Diversified consumer services: 1.6% ($17,772 thousand). - Biotechnology: 1.2% ($12,679 thousand). - Diversified telecommunications services: 0.3% ($3,552 thousand). ### Future Outlook and Strategy Kayne Anderson BDC, Inc.’s forward-looking statements are based on current expectations without obligation to update them. The company’s future operating results and business prospects are subject to various risks, including changes in economic conditions, interest rate environments, and financial markets. 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