Crescent Capital BDC, Inc.(CCAP)Earnings, Financials & Key Ratios

Crescent Capital BDC, Inc. faces ongoing headwinds, with a 19% dividend cut following rising non-accruals and declining investment income. Despite a steep 39% discount to NAV and a 12%+ yield, I remain cautious given persistent inflation and the potential for further downside. CCAP's Q1 saw net investment income drop to $0.38/share and non-accruals spike to 5.7% at cost, pressuring NAV and dividend sustainability.

Crescent Capital BDC, Inc. trades at a 39% NAV discount after a 19% dividend cut was announced due to falling NII. CCAP's non-accrual ratio doubled year-over-year to 3.6%, based on fair value, pressuring net investment income and dividend coverage. The portfolio is 92% first liens, and the forward dividend yield is 12%, with Q1'26 coverage at 1.0x.

Crescent Capital BDC, Inc. continues to underperform the index. Part of it is justified; part of it isn't. As of today, CCAP trades 40% below NAV and offers a yield of almost 13% that is underpinned by strong earnings coverage.

ACRE, CWST and CCAP have been added to the Zacks Rank #5 (Strong Sell) List on June 16, 2026.