Latest Ratios: P/E Ratio 1.1x · EV/EBITDA N/A · ROE 15.6%. (2013–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $14M | $44M | $48M | $52M | $61M | $75M | $48M | $103M | $121M | $136M | $121M |
| Enterprise Value | $135M | $165M | $170M | $186M | $205M | $235M | $215M | $249M | $233M | $227M | $233M |
| P/E Ratio → | 1.13 | 3.61 | — | 16.45 | 23.56 | — | — | — | 7.75 | 5.77 | — |
| P/S Ratio | 0.59 | 1.88 | 2.08 | 1.95 | 2.48 | 2.81 | 1.39 | 3.00 | 5.42 | 4.82 | 3.39 |
| P/B Ratio | 0.18 | 0.56 | 0.62 | 0.59 | 0.65 | 0.78 | 0.18 | 0.37 | 0.43 | 0.57 | 0.47 |
| P/FCF | — | — | 6.65 | 2.52 | 2.86 | 3.72 | — | — | — | 3.34 | 2.92 |
| P/OCF | — | — | 6.65 | 2.52 | 2.86 | 3.72 | — | — | — | 3.34 | 2.92 |
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 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 7.09 | 7.30 | 6.99 | 8.39 | 8.79 | 6.25 | 7.23 | 10.45 | 8.04 | 6.55 |
| EV / EBITDA | — | — | — | — | — | — | — | 11.69 | 27.09 | — | 5.79 |
| EV / EBIT | 8.93 | 10.91 | 11.23 | 9.87 | 12.40 | 13.14 | 8.98 | — | 18.88 | 6.80 | — |
| EV / FCF | — | — | 23.31 | 9.01 | 9.66 | 11.61 | — | — | — | 5.57 | 5.64 |
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 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | -28.1% | 53.4% | 71.7% | -12.4% |
| Operating Margin | 65.0% | 65.0% | 65.0% | 70.8% | 67.6% | 66.9% | 69.6% | -16.0% | -18.5% | -16.4% | -13.9% |
| Net Profit Margin | 52.0% | 52.0% | 52.0% | 12.1% | 10.6% | -8.7% | -71.5% | -42.3% | 70.0% | 83.6% | -26.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 15.6% | 15.6% | 14.6% | 3.6% | 2.7% | -1.3% | -8.9% | -5.2% | 6.0% | 9.5% | -4.1% |
| ROA | 5.8% | 5.8% | 5.5% | 1.4% | 1.0% | -0.8% | -7.8% | -4.5% | 5.1% | 7.7% | -2.7% |
| ROIC | 5.7% | 5.7% | 5.4% | 6.1% | 4.9% | 3.7% | 4.0% | -1.0% | -0.8% | -1.0% | -1.0% |
| ROCE | 7.6% | 7.6% | 7.1% | 8.1% | 6.6% | 6.4% | 7.9% | -1.8% | -1.4% | -1.6% | -1.5% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.57 | 1.57 | 1.57 | 1.54 | 1.57 | 1.72 | 0.67 | 0.59 | 0.42 | 0.43 | 0.51 |
| Debt / EBITDA | — | — | — | — | — | — | — | 7.78 | 13.69 | — | 3.25 |
| Net Debt / Equity | — | 1.56 | 1.56 | 1.53 | 1.54 | 1.66 | 0.62 | 0.52 | 0.40 | 0.38 | 0.44 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | 6.85 | 13.04 | — | 2.79 |
| Debt / FCF | — | — | 16.66 | 6.49 | 6.80 | 7.90 | — | — | — | 2.23 | 2.72 |
| Interest Coverage | — | — | 1.76 | 2.25 | 2.49 | 2.42 | 2.51 | -1.62 | 1.96 | 7.02 | -2.31 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.05 | 2.05 | 2.05 | 1.36 | 0.79 | 3.70 | 5.83 | 0.89 | 0.74 | 0.10 | 0.14 |
| Quick Ratio | 2.05 | 2.05 | 2.05 | 1.36 | 0.79 | 3.70 | 5.83 | 0.89 | 0.74 | 0.10 | 0.14 |
| Cash Ratio | 0.11 | 0.11 | 0.11 | 0.13 | 0.64 | 0.99 | 4.25 | 0.75 | 0.35 | 0.66 | 1.33 |
| Asset Turnover | — | 0.11 | 0.11 | 0.12 | 0.10 | 0.10 | 0.12 | 0.10 | 0.07 | 0.10 | 0.11 |
| 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 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | 248.5% | 328.8% | — | — | — | 87.5% | 75.4% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 88.4% | 27.7% | — | 6.1% | 4.2% | — | — | — | 12.9% | 17.3% | — |
| FCF Yield | — | — | 15.0% | 39.8% | 35.0% | 26.9% | — | — | — | 30.0% | 34.3% |
| Buyback Yield | 0.0% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 0.0% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $14M | $14M | $14M | $14M | $14M | $14M | $14M | $14M | $14M | $14M |
Portfolio Valuation and Liquidity
Based on reported financial statements, ICMB trades at a P/B ratio of 0.22, a significant discount compared to peers like Capital Southwest, which suggests the market is pricing in substantial skepticism regarding the realizable value of the underlying loan portfolio and future earnings potential.
The current valuation multiple appears to reflect a market consensus that the company's net asset value may be overstated due to the prevalence of Level 3 assets. Investors should monitor whether this discount persists as a structural feature or if it represents a mispricing of the firm's ability to recover value from its distressed holdings.
As indicated by the quarterly data, ROIC has trended into negative territory, reaching -3.3% in 2026Q3, which highlights a fundamental inability to generate positive returns on invested capital compared to the more stable performance observed in the broader BDC peer group.
The consistent decay in ROIC suggests that the firm's investment strategy is failing to cover its cost of capital, likely exacerbated by non-accruals and portfolio impairments. This trend warrants further investigation into whether the current management approach can pivot toward higher-quality originations or if the capital base will continue to erode.
According to recent SEC filings, the current ratio plummeted to 0.19 in 2026Q3, a sharp decline from 1.51 in 2026Q2, indicating that the firm's ability to meet short-term obligations has become increasingly precarious relative to its historical liquidity position.
This rapid contraction in liquidity suggests that the company may be struggling with cash availability to support its operations or dividend commitments. Investors should be wary of the potential for forced asset sales or further reliance on external financing to bridge these widening liquidity gaps.
Based on reported figures, the debt-to-equity ratio has fluctuated significantly, peaking at 2.01 in 2026Q2, which indicates an inconsistent approach to capital structure management that may expose shareholders to heightened volatility during periods of portfolio valuation adjustments.
The erratic nature of the firm's leverage suggests a lack of a disciplined capital allocation framework, which is particularly concerning given the current negative interest coverage ratios. This instability may limit the company's flexibility to navigate credit cycles effectively compared to more conservatively managed peers.
Market participants often misapply the Price-to-Sales ratio to ICMB, which obscures the reality that revenue in a BDC is a function of fair value accounting rather than operational cash generation, making it a poor metric for assessing the true health of the business model.
Investors should instead prioritize Net Investment Income (NII) and NAV per share, as these metrics better capture the recurring cash-generating capacity of the portfolio. Relying on revenue multiples in this context may lead to a fundamental misunderstanding of the firm's ability to sustain its dividend and preserve capital.
Includes 30+ ratios · 13 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 ICMB stock.
Investcorp Credit Management BDC, Inc.'s current P/E ratio is 1.1x. The historical average is 13.9x.
Investcorp Credit Management BDC, Inc.'s return on equity (ROE) is 15.6%. The historical average is 4.2%.
Based on historical data, Investcorp Credit Management BDC, Inc. is trading at a P/E of 1.1x. Compare with industry peers and growth rates for a complete picture.
Investcorp Credit Management BDC, Inc. has 100.0% gross margin and 65.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.