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Investcorp Credit Management BDC (ICMB) AI Stock Analysis
Investcorp Credit Management BDC
(NASDAQ:ICMB)
ICMB scores low primarily due to sharply deteriorating TTM profitability and declining revenue, which create uncertainty around earnings quality despite strong recent cash flow. Technicals also point to a sustained downtrend with bearish momentum. Valuation is supported by a very high dividend yield, but the negative P/E and loss-making TTM results temper the benefit.
Investcorp Credit Management BDC (ICMB) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- $9.51M
- Dividend Yield
- 36.89%
- Average Volume (3M)
- 62.55K
- Price to Earnings (P/E)
- -0.9
- Beta (1Y)
- 0.34
- Revenue Growth
- -20.10%
- EPS Growth
- -1010.65%
- Country
- US
- Employees
- 2
- Sector
- Financial
- Sector Strength
- 68
- Industry
- Asset Management
Investcorp Credit Management BDC Business Overview & Revenue Model
Company Description
Investcorp Credit Management BDC, Inc. (ICMB) operates as a business development company, primarily focusing on providing debt and mezzanine financing. Its investments aim to support various corporate objectives, including growth capital, acquisition...
Investcorp Credit Management BDC Earnings Call Summary
The call presented a mixed picture: management executed a refinancing that extended the maturity profile and maintained liquidity options, realized portfolio exits with mid-teens IRR-like outcomes, and emphasized portfolio diversification and downside-focused underwriting. However, the quarter showed material deterioration in mark-to-market metrics (NAV down ~16%, portfolio fair value down ~12%), rising nonaccruals (6.9% from 4.4%), minimal net investment income ($0.02/share), a suspension of the quarterly dividend, and investor concerns about higher financing costs and manager/alignment issues. Taken together, the negative operational and mark-to-market developments appear to outweigh the structural positives in the quarter.
Q3-2026 Updates
Positive Updates
Negative Updates
Company Guidance
The company guided that it has formed a special committee to review strategic alternatives, will not declare a quarterly dividend for the current quarter, and is prioritizing liquidity, capital preservation, disciplined underwriting and active management in a challenging near‑term market; key metrics cited include a $65.0M refinancing (new unsecured notes due 7/1/2029 at SOFR + 550bps), NAV per share $4.25 (down from $5.04), portfolio fair value $172.7M (vs. $196.1M), net assets $61.3M (down $11.4M: $9.4M ops, $2.0M dividend), net investment income $0.3M or $0.02/sh, nonaccruals 6.9% (up from 4.4%), weighted average debt yield 10.6% (down 31bps), 37 borrowers (81% first lien, 19% equity/warrants), 98% floating rate with a 4.5% average spread, average investment ~$4.7M (2.7% of fair value), largest investment Bioplan $11.4M, top industry concentrations: professional services 14.5%, IT services 9.2%, insurance 8.9%, diversified consumer services 8.6%, commercial services 7.9%, gross leverage 2.02x / net 1.78x (pro forma ~1.8x after $14M Feb paydown), asset coverage improved from 150% to 155%, liquidity of ~$15M cash (≈$10.4M restricted) plus $41.1M unused revolver ($8.7M available under borrowing base), realizations of $8.2M with ~10.6% IRR, and a $1.5M new investment in Axiom at an ~8.8% yield at cost.
Investcorp Credit Management BDC Financial Statement Overview
Summary
Financial performance is unstable. TTM revenue declined ~20% and profitability flipped to a deep loss (net income about -$9.1M), which outweighs the improving leverage trend (debt-to-equity ~1.23x) and solid TTM operating/free cash flow (~$22.4M each). The gap between strong cash flow and a large net loss raises durability and earnings-quality concerns.
Income Statement
26NegativeBalance Sheet
52NeutralCash Flow
61Positive| Breakdown | TTM | Dec 2025 | Dec 2025 | Jun 2024 | Jun 2023 | Jun 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.33M | 23.25M | 3.33M | 23.25M | 26.68M | 24.43M |
| Gross Profit | -4.35M | 23.25M | -4.35M | 23.25M | 26.68M | 24.43M |
| EBITDA | -8.40M | 15.11M | -8.40M | 15.11M | 19.66M | 17.21M |
| Net Income | -8.85M | 12.08M | -8.85M | 12.08M | 3.23M | 2.59M |
Balance Sheet | ||||||
| Total Assets | 188.84M | 206.85M | 188.84M | 206.85M | 231.81M | 246.39M |
| Cash, Cash Equivalents and Short-Term Investments | 4.58M | 771.48K | 4.58M | 771.48K | 1.09M | 2.55M |
| Total Debt | 123.13M | 122.04M | 123.13M | 122.04M | 135.48M | 146.82M |
| Total Liabilities | 127.51M | 129.25M | 127.51M | 129.25M | 144.11M | 152.88M |
| Stockholders Equity | 61.33M | 77.60M | 61.33M | 77.60M | 87.70M | 93.51M |
Cash Flow | ||||||
| Free Cash Flow | 4.81M | -13.52M | 11.65M | 7.28M | 20.71M | 21.21M |
| Operating Cash Flow | 4.81M | -13.52M | 11.65M | 7.28M | 20.71M | 21.21M |
| Investing Cash Flow | 21.40M | 0 | 0 | 29.78M | 10.66M | 9.13M |
| Financing Cash Flow | -8.76M | -20.70M | -8.76M | -41.10M | -20.71M | -24.66M |
Investcorp Credit Management BDC Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ICMB, the sentiment is Negative. The current price of 0.66 is below the 20-day moving average (MA) of 0.68, below the 50-day MA of 0.78, and below the 200-day MA of 1.46, indicating a bearish trend. The MACD of -0.02 indicates Negative momentum. The RSI at 38.39 is Neutral, neither overbought nor oversold. The STOCH value of 11.72 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ICMB.
Investcorp Credit Management BDC Risk Analysis
Investcorp Credit Management BDC disclosed 80 risk factors in its most recent earnings report. Investcorp Credit Management BDC reported the most risks in the "Finance & Corporate" category.
Latest Risks Added
0 New RisksInvestcorp Credit Management BDC Peers Comparison
Overall Rating
PNNT64Neutral
NEWT60Neutral
PSBD59Neutral
OFS53Neutral- ICMB46Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| Sector * | 68Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
| PNNT | 64Neutral | $201.76M | 20.45 | 2.27% | 29.72% | 138.32% | -27.91% |
| NEWT | 60Neutral | $307.70M | 5.42 | 14.26% | 6.90% | 24.24% | -15.75% |
| PSBD | 59Neutral | $303.45M | -9.16 | -0.03% | 15.72% | -14.85% | -275.66% |
| OFS | 53Neutral | $49.97M | -1.82 | -25.56% | 17.71% | -82.20% | -978.39% |
| ICMB | 46Neutral | $9.39M | -0.90 | -14.27% | 36.89% | -20.10% | -1010.65% |
* Financial Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| ICMB | Investcorp Credit Management BDC, Inc. | 0.66 | -1.94 | -74.65% | |
| NEWT | Newtek Business Services | 11.01 | 1.45 | 15.17% | |
| PNNT | Pennantpark Investment | 3.23 | -1.95 | -37.68% | |
| OFS | OFS Capital | 3.84 | -0.46 | -10.80% | |
| PSBD | Palmer Square Capital BDC Inc. | 9.99 | -0.51 | -4.88% |
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Oct 24, 2026