Barings BDC, Inc. Financial Ratios — BBDC Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	1,649.08	878.08	1,051.36	262.64	328.69	310.22	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	11.69	8.72	10.09	3.17	4.75	3.12	-2.4	-9.56	4.81	0.56	4.05	0.19	4.75	4.11	3.82
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	8.41	10.25	3.22	4.82	3.16	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	0.04	74.17	80.6	59.63	66.5	55.26	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Margin (%)	- -	74.17	80.6	59.63	66.5	55.26	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	-55.76	726.66	101.68	103.37	84.89	138.76	50.24	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	82.63	77.97	80.6	59.63	66.5	55.26	442.82	219.34	89.07	47.95	89.52	38.03	92.85	92.04	93.12
Profit Margin (%)	81.33	77.26	80.07	53.72	65.97	54.57	456.71	217.56	88.55	47.65	89.51	29.25	91.64	89.24	89.71
Net Income to Common Margin (%)	81.33	77.26	80.07	53.72	65.97	54.57	456.71	217.56	88.55	47.65	89.51	29.25	91.64	89.24	89.71
Effective Tax Rate (%)	1.57	0.91	0.66	9.92	0.8	1.25	- -	- -	0.58	0.63	0.01	23.1	1.3	3.05	3.67
Dvd Payout Ratio (%)	57.02	86.22	69.86	261.93	156.2	194.05	-269	-18.44	46.27	383.09	68.94	2,002.26	85.15	99.79	122.88
Sustainable Growth Rate (%)	708.78	120.97	316.87	-425.31	-184.72	-291.77	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	239	363	354	428	514	535	566	1,140	669	944	1,373	1,448	1,440	1,450	1,430
ST Debt	- -	- -	- -	- -	- -	- -	- -	570	- -	- -	- -	- -	- -	- -	- -
LT Debt	239	363	354	428	514	535	566	570	669	944	1,373	1,448	1,440	1,450	1,430
Total Debt/EBITDA	8,764.88	6.3	4.33	13.59	10.66	15.43	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBITDA	6,315.05	1.34	2.7	11.38	9.57	12.34	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/EBIT	- -	6.3	4.33	13.59	10.66	15.43	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	1.34	2.7	11.38	9.57	12.34	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	1.18	0.86	1.06	1.33	1.55	0.51	-14.91	-27.57	-22.58	-18.48	-13.22	-24.49	-24.57	-24.36	-26.63
Long-Term Debt/Equity (%)	71.57	87.01	79.41	80.62	101.12	87.56	88.23	101.25	117.22	131.51	185.02	121.45	120.39	121.85	123.21
Long-Term Debt/Capital (%)	97.21	98.16	97.62	97.06	96.95	98.9	147.55	69.68	173.24	148.87	126.29	184.6	184.07	182.72	196.46
Long-Term Debt/Total Assets (%)	41.02	45.7	43.44	43.89	49.46	46.15	46.26	48.82	53.42	56.29	63.53	53.44	53.8	53.81	54.25
Total Debt/Equity (%)	71.57	87.01	79.41	80.62	101.12	87.56	88.23	202.5	117.22	131.51	185.02	121.45	120.39	121.85	123.21
Total Debt/Capital (%)	97.21	98.16	97.62	97.06	96.95	98.9	147.55	139.35	173.24	148.87	126.29	184.6	184.07	182.72	196.46
Total Debt/Total Assets (%)	41.02	45.7	43.44	43.89	49.46	46.15	46.26	97.64	53.42	56.29	63.53	53.44	53.8	53.81	54.25
Net Debt to Equity	51.56	18.5	49.51	67.47	90.77	70.04	58.31	200.29	-3.85	-12.4	-11.36	-11.69	-5.89	-6.54	-4.64
Net Debt/Capital (%)	96.17	25.94	96.23	98.89	96.62	98.63	195.16	139.96	-6.04	-16.33	-8.4	-21.61	-9.9	-10.87	-7.99
EBITDA	- -	58	82	31	48	35	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx	- -	58	82	31	48	35	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income (Loss)	- -	58	82	31	48	35	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	1.18	0.86	1.06	1.33	1.55	0.51	-14.91	-27.57	-22.58	-18.48	-13.22	-24.49	-24.57	-24.36	-26.63
Long-Term Debt/Equity (%)	71.57	87.01	79.41	80.62	101.12	87.56	88.23	101.25	117.22	131.51	185.02	121.45	120.39	121.85	123.21
Long-Term Debt/Capital (%)	97.21	98.16	97.62	97.06	96.95	98.9	147.55	69.68	173.24	148.87	126.29	184.6	184.07	182.72	196.46
Long-Term Debt/Total Assets (%)	41.02	45.7	43.44	43.89	49.46	46.15	46.26	48.82	53.42	56.29	63.53	53.44	53.8	53.81	54.25
Total Debt/Equity (%)	71.57	87.01	79.41	80.62	101.12	87.56	88.23	202.5	117.22	131.51	185.02	121.45	120.39	121.85	123.21
Total Debt/Capital (%)	97.21	98.16	97.62	97.06	96.95	98.9	147.55	139.35	173.24	148.87	126.29	184.6	184.07	182.72	196.46
Total Debt/Total Assets (%)	41.02	45.7	43.44	43.89	49.46	46.15	46.26	97.64	53.42	56.29	63.53	53.44	53.8	53.81	54.25
CFO/Total Liabilities	-47.49	-34.61	34.51	-42.37	-5.88	-4.22	1.37	-32.8	-4.62	-22.74	-27.95	5.68	5.2	8.12	10.88
CFO/CapEx	-3,114.8	-4,313.35	2,821.37	-1,948.95	-546.16	-326.3	196.66	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	1.04	1.43	1.71	1	0.96	0.89	0.24	0.02	0.19	0.03	0.16	-0.01	0.08	0.11	0.06

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	- -	58.67	25.66	8.34	11.79	8.32	-0.7	-7.6	21.87	- -	- -	- -	- -	- -	- -
Days Sales Outstanding	- -	6.22	14.23	43.78	30.95	43.85	-523.55	-48	16.69	- -	- -	- -	- -	- -	- -
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	374	682	762	604	635	668	441	450	516	447	720	839	918	1,012	966
- Cash & Cash Equivalents	67	72	133	79	53	107	192	12	22	89	84	139	71	78	54
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	239	363	354	428	514	535	566	1,140	669	944	1,373	1,448	1,440	1,450	1,430
Enterprise Value	546	972	983	953	1,097	1,096	815	1,577	1,163	1,302	2,008	2,147	2,288	2,385	2,342
Total Capital	246	370	363	441	530	541	383	818	386	634	1,087	784	783	794	728
Total Debt/Capital (%)	97.21	98.16	97.62	97.06	96.95	98.9	147.55	139.35	173.24	148.87	126.29	184.6	184.07	182.72	196.46
Total Debt / EV	0.44	0.37	0.36	0.45	0.47	0.49	0.69	0.72	0.58	0.73	0.68	0.67	0.63	0.61	0.61
EV/Sales	7.83	12.51	9.69	18.06	15.12	17.46	- -	- -	17.7	75.87	23.14	134.18	16.38	19.3	20.61
EV/EBITDA	20,013.4	16.86	12.03	30.28	22.73	31.59	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	16.86	12.03	30.28	22.73	31.59	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	7.72	- -	- -	- -	102.32	- -	- -	- -	- -	24.89	29.74	19.52	14.59
EV/Free Cash Flow to Firm	- -	- -	7.72	- -	- -	- -	101.81	- -	- -	- -	- -	24.89	29.74	19.52	14.59
Diluted Market Cap	374	682	762	604	635	668	441	450	516	447	720	839	918	1,012	966
Diluted Enterprise Value	546	972	983	953	1,097	1,096	815	1,577	1,163	1,302	2,008	2,147	2,288	2,385	2,342
EV per Share	27.93	36.36	35.65	32.02	32.99	30.1	17.53	31.61	23.18	26.8	30.75	20.87	21.38	22.54	22.26
TTM Sales	70	78	101	53	73	63	-6	-53	66	17	87	16	140	124	114
TTM EBITDA	- -	58	82	31	48	35	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Operating Income	- -	58	82	31	48	35	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	-118	-131	127	-188	-31	-23	8	-198	-32	-218	-397	86	77	122	161
TTM Free Cash Flow to Firm	-118	-131	127	-188	-31	-23	8	-198	-32	-218	-397	86	77	122	161

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	-3.16	-5.22	5.98	-3.21	-20.37	-28.95	55.11	-2.27	-16.38	-2.05	-1.82	9.72	11.94	8.29	6.02
EV/EBIT	- -	16.86	12.03	30.28	22.73	31.59	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	546	972	983	953	1,097	1,096	815	1,577	1,163	1,302	2,008	2,147	2,288	2,385	2,342
Low Price	13.62	18.81	25.47	18.18	15.41	14.91	8.91	8.7	8.93	4.67	8.82	7.89	6.96	8.55	7.66
EV/Sales	7.83	12.51	9.69	18.06	15.12	17.46	- -	- -	17.7	75.87	23.14	134.18	16.38	19.3	20.61
EV/EBITDA	20,013.4	16.86	12.03	30.28	22.73	31.59	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	6.59	11.35	9.39	21.3	13.27	19.49	- -	- -	8.87	54.65	9.27	179.18	7.18	9.18	9.48
Price/Earnings Average	6.19	9.91	9.68	27.07	14.75	20.22	-25.7	-4.71	8.61	49.13	8.79	215.27	7.02	9.22	9.55
Price/Earnings High	7.21	11.89	10.42	30.85	17.33	22.69	-33.03	-5.41	9.12	62.91	9.71	247.99	7.92	9.96	11.2
Price/Earnings Low	4.69	8.37	8.65	19.09	10.7	15.85	-14.46	-3.8	7.7	27.74	7.42	173.46	5.82	8.2	7.91
Price/Book Value	54.42	100.08	88.27	46.62	39.3	112.69	-2.42	-1.4	-1.82	-1.44	-2.52	-1.26	-1.4	-1.54	-1.38
Price/Book Value Average	51.16	87.42	91.02	59.25	43.69	116.89	-4.04	-1.67	-1.77	-1.3	-2.39	-1.52	-1.37	-1.55	-1.39
Price/Book Value High	59.57	104.88	98	67.53	51.31	131.18	-5.19	-1.92	-1.88	-1.66	-2.64	-1.75	-1.54	-1.67	-1.63
Price/Book Value Low	38.77	73.86	81.31	41.77	31.69	91.61	-2.27	-1.35	-1.58	-0.73	-2.02	-1.22	-1.13	-1.38	-1.15
Price/Tangible Book Value	1.12	1.63	1.71	1.14	1.25	1.09	0.69	0.8	0.9	0.62	0.97	0.7	0.77	0.85	0.83
Price/Tangible Book Value Average	1.05	1.43	1.76	1.45	1.39	1.13	1.15	0.96	0.88	0.56	0.92	0.85	0.75	0.85	0.84
Price/Tangible Book Value High	1.22	1.71	1.9	1.65	1.63	1.27	1.48	1.1	0.93	0.72	1.02	0.97	0.85	0.92	0.98
Price/Tangible Book Value Low	0.8	1.21	1.58	1.02	1.01	0.89	0.65	0.77	0.79	0.32	0.78	0.68	0.62	0.76	0.69
Price/Sales	5.36	8.77	7.52	11.44	8.76	10.64	-70.34	-8.56	7.85	26.04	8.29	52.41	6.58	8.19	8.5
Price/Sales Average	5.04	7.66	7.75	14.54	9.73	11.03	-117.38	-10.25	7.62	23.41	7.87	62.96	6.43	8.22	8.56
Price/Sales High	5.86	9.19	8.35	16.57	11.43	12.38	-150.84	-11.78	8.07	29.98	8.69	72.53	7.26	8.89	10.05
Price/Sales Low	3.82	6.47	6.92	10.25	7.06	8.65	-66.04	-8.26	6.82	13.22	6.64	50.74	5.33	7.32	7.09
Price/Cash Flow	-3.16	-5.22	5.99	-3.21	-20.33	-28.86	55.39	-2.27	-16.38	-2.05	-1.82	9.72	11.94	8.29	6.02
Price/Cash Flow Average	-2.97	-4.56	6.17	-4.08	-22.61	-29.94	92.42	-2.72	-15.9	-1.84	-1.72	11.68	11.68	8.32	6.06
Price/Cash Flow High	-3.46	-5.47	6.65	-4.65	-26.55	-33.59	118.77	-3.12	-16.84	-2.36	-1.9	13.46	13.17	8.99	7.11
Price/Cash Flow Low	-2.25	-3.85	5.51	-2.88	-16.4	-23.46	52	-2.19	-14.23	-1.04	-1.45	9.41	9.68	7.4	5.02
Price/Free Cash Flow Average	-2.97	-4.56	6.17	-4.08	-22.65	-30.03	91.95	-2.72	-15.9	-1.84	-1.72	11.68	11.68	8.32	6.06
Price/Free Cash Flow High	-3.46	-5.47	6.64	-4.65	-26.6	-33.7	118.17	-3.12	-16.84	-2.36	-1.9	13.46	13.17	8.99	7.11
Price/Free Cash Flow Low	-2.25	-3.85	5.51	-2.88	-16.43	-23.53	51.74	-2.19	-14.23	-1.04	-1.45	9.41	9.68	7.4	5.02
EV/Sales Average	7.5	11.4	9.93	21.16	16.1	17.85	- -	- -	17.47	73.24	22.71	144.74	16.24	19.33	20.68
EV/Sales High	8.33	12.93	10.52	23.19	17.79	19.2	- -	- -	17.92	79.8	23.54	154.31	17.07	19.99	22.16
EV/Sales Low	6.28	10.21	9.1	16.87	13.42	15.47	- -	- -	16.67	63.04	21.48	132.51	15.14	18.43	19.21
EV/EBITDA Average	19,192.68	15.37	12.32	35.48	24.2	32.3	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA High	21,310.16	17.43	13.06	38.89	26.75	34.74	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA Low	16,072.98	13.77	11.29	28.28	20.18	27.99	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Average	- -	15.37	12.32	35.48	24.2	32.3	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	17.43	13.06	38.89	26.75	34.74	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	13.77	11.29	28.28	20.18	27.99	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	19.12	25.49	27.65	20.29	19.11	18.34	9.49	9.01	10.28	9.2	11.02	8.15	8.58	9.57	9.18
High Price	20.93	26.71	30.7	29.39	24.95	21.35	20.35	12.4	10.57	10.59	11.55	11.28	9.47	10.38	10.85
Enterprise Value Average	524	886	1,007	1,117	1,168	1,121	1,110	1,666	1,148	1,257	1,971	2,316	2,269	2,389	2,349
Enterprise Value High	582	1,005	1,067	1,224	1,291	1,205	1,320	1,746	1,178	1,369	2,043	2,470	2,384	2,471	2,518
Enterprise Value Low	439	794	923	891	974	971	788	1,562	1,095	1,082	1,865	2,121	2,115	2,277	2,182

Shares Outstanding	23	27	28	33	33	40	48	51	49	65	65	108	106	105	105
Diluted Weighted Avg Shares	20	27	28	30	33	36	46	50	50	49	65	103	107	106	105
Basic Weighted Avg Shares	20	27	28	30	33	36	46	50	50	49	65	103	107	106	105
Revenue per Share	3.57	2.91	3.68	1.77	2.18	1.72	-0.13	-1.05	1.31	0.35	1.33	0.16	1.3	1.17	1.08
EBITDA per Share	- -	2.16	2.96	1.06	1.45	0.95	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	2.16	2.96	1.06	1.45	0.95	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	2.9	2.25	2.94	0.95	1.44	0.94	-0.62	-2.29	1.16	0.17	1.19	0.05	1.2	1.04	0.97
Basic EPS from Cont Ops	2.9	2.25	2.94	0.95	1.44	0.94	-0.62	-2.29	1.16	0.17	1.19	0.05	1.2	1.04	0.97
Diluted EPS, GAAP	2.9	2.25	2.94	0.95	1.44	0.94	-0.62	-2.29	1.16	0.17	1.19	0.05	1.2	1.04	0.97
Diluted EPS from Cont Ops	2.9	2.25	2.94	0.95	1.44	0.94	-0.62	-2.29	1.16	0.17	1.19	0.05	1.2	1.04	0.97
Dividend per Share	1.66	1.94	2.06	2.5	2.25	1.83	1.66	0.42	0.54	0.64	0.82	0.91	1.02	1.04	1.19
Cash Flow per Share	-6.05	-4.88	4.62	-6.32	-0.94	-0.64	0.17	-3.97	-0.63	-4.49	-6.07	0.84	0.72	1.15	1.53
Free Cash Flow per Basic Share	-6.05	-4.88	4.62	-6.33	-0.94	-0.64	0.17	-3.97	-0.63	-4.49	-6.07	0.84	0.72	1.15	1.53
Cash & Equivalents per Share	3.42	2.7	4.83	2.65	1.58	2.94	4.13	0.25	0.44	1.83	1.29	1.35	0.66	0.74	0.51
Book Value per Share	0.35	0.25	0.31	0.44	0.49	0.16	-3.92	-6.45	-5.64	-6.38	-4.37	-6.45	-6.15	-6.21	-6.67
Tangible Book Value per Share	17.09	15.61	16.17	17.83	15.3	16.79	13.79	11.28	11.38	14.78	11.36	11.59	11.18	11.25	11.03

Barings BDC, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)