Latest Ratios: P/E Ratio 187.4x · EV/EBITDA N/A · ROE N/A. (2025–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 |
|---|---|---|
| Market Cap | $351M | — |
| Enterprise Value | $349M | — |
| P/E Ratio → | 187.38 | — |
| P/S Ratio | — | — |
| P/B Ratio | — | — |
| P/FCF | — | — |
| P/OCF | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 |
|---|---|---|
| EV / Revenue | — | — |
| EV / EBITDA | — | — |
| EV / EBIT | — | — |
| EV / FCF | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 |
|---|---|---|
| Gross Margin | — | — |
| Operating Margin | — | — |
| Net Profit Margin | — | — |
| Metric | TTM | FY 2025 |
|---|---|---|
| ROE | — | — |
| ROA | 0.7% | 0.7% |
| ROIC | — | — |
| ROCE | -0.2% | -0.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 |
|---|---|---|
| Debt / Equity | — | — |
| Debt / EBITDA | — | — |
| Net Debt / Equity | — | — |
| Net Debt / EBITDA | — | — |
| Debt / FCF | — | — |
| Interest Coverage | — | — |
Net cash position: cash ($2M) exceeds total debt ($0)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 |
|---|---|---|
| Current Ratio | 22.75 | 22.75 |
| Quick Ratio | 22.75 | 22.75 |
| Cash Ratio | 20.48 | 20.48 |
| Asset Turnover | — | — |
| Inventory Turnover | — | — |
| Days Sales Outstanding | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 |
|---|---|---|
| Dividend Yield | — | — |
| Payout Ratio | — | — |
| Metric | TTM | FY 2025 |
|---|---|---|
| Earnings Yield | 0.5% | — |
| FCF Yield | — | — |
| Buyback Yield | 0.0% | — |
| Total Shareholder Yield | 0.0% | — |
| Shares Outstanding | — | $35M |
Liquidity and funding reliance
With a P/E ratio of 186.64, BDCI's valuation appears disconnected from its current lack of operational revenue, as indicated by the most recent quarterly filings which show no top-line generation to justify such a premium multiple compared to established, income-producing peers in the asset management sector.
The current P/E multiple suggests that market participants are pricing in significant future growth that has yet to materialize in the firm's financial statements. Investors should monitor whether this valuation is supported by actual portfolio yield or if it remains a speculative premium based on the BlackRock brand association.
As reported in financial statements, BDCI recorded a net income of $2.0M despite an operating loss of $443.2K, suggesting that non-operating items are the primary drivers of the bottom line rather than core investment activities, which warrants further investigation into the sustainability of these accounting gains.
The divergence between net income and operating performance indicates that the firm is not yet generating profit from its primary business of middle-market lending. This reliance on non-operating items suggests that the current earning power is weak and potentially volatile until the portfolio reaches a scale that supports recurring interest income.
Based on BDCI's reported figures, the firm maintains a cash balance of only $1,985,699, which appears insufficient to cover significant operational volatility or to fund new loan originations without immediate and potentially costly access to external revolving credit facilities or additional capital market interventions.
The current ratio of 22.75, while numerically high, is likely a function of the firm's early-stage balance sheet structure rather than true liquidity strength. Investors should be wary of this reliance on external credit lines, as any disruption in the debt markets could severely impair the firm's ability to maintain its investment pace.
According to institutional analysis, the P/E ratio is the most commonly misapplied metric for BDCI, as it fails to account for the non-cash nature of PIK income and the volatility of unrealized gains inherent in the firm's Level 3 asset portfolio, which obscures the true economic reality.
Analysts should instead focus on Net Investment Income (NII) per share and the ratio of cash interest to PIK interest to gauge actual dividend sustainability. Relying on standard P/E multiples for a BDC in its nascent stage ignores the structural importance of NAV and the underlying credit quality of the loan book.
Includes 30+ ratios · 1 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying BDCI stock.
BTC Development Corp. Class A Ordinary Shares's current P/E ratio is 187.4x. This places it at the 50th percentile of its historical range.
Based on historical data, BTC Development Corp. Class A Ordinary Shares is trading at a P/E of 187.4x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.