Chicago Atlantic BDC, Inc. (LIEN) stock analysis
Close on Nov 11, 2026Market cap $209.27MP/E 6.8Yield –
StockData Score
Prices as of Nov 11, 2026How the score works
Mixed12 of 30 checks passed
Chicago Atlantic BDC passes 12 of the 30 checks behind our score; 16 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 4/6
- Growth
- 0/6
- Past performance
- 1/6
- Financial health
- 4/6
- Dividend
- 3/6
What stands out
Margin of safety over 20%
The price is 63.0% below fair value, more than the 20% cushion we look for.
Trading below fair value
The share price of $9.17 is below our fair value estimate of $24.81.
No debt
Chicago Atlantic BDC has no borrowings on its latest balance sheet.
Interest well covered
No meaningful interest expense to cover.
What to watch
Elevated bankruptcy risk
The Altman Z-score is 1.18; above 3 is the safe zone and below 1.8 the distress zone.
Not covered by earnings
Dividends take 101% of net income, leaving little room.
Valuation4/6
P/E against its history
Not enough price and earnings history to compare.
P/E below the industry
Chicago Atlantic BDC's P/E of 6.8 is below the US market median of 19.6.
EV/EBITDA against its history
Needs positive EBITDA and price history.
P/B below the industry
Chicago Atlantic BDC's price-to-book of 0.69 is below the US market median of 1.92.
Trading below fair value
The share price of $9.17 is below our fair value estimate of $24.81.
Margin of safety over 20%
The price is 63.0% below fair value, more than the 20% cushion we look for.
Growth0/6
Revenue growth over 3 years
Needs three years of positive revenue.
EPS growth over 3 years
Needs positive EPS three years ago and today.
Earnings acceleration
Needs positive net income now, a year ago and five years ago.
Growth against the industry
Needs revenue for this year and last.
Company guidance
No outlook found in earnings releases from the last twelve months.
Gross margin trend
This company does not report gross profit.
Past performance1/6
Return on equity
Needs positive equity and five years of results.
Return on invested capital
Needs operating income and invested capital.
Return on equity above the industry
Chicago Atlantic BDC's return on equity of 10.2% is above the US market median of 3.4%.
Earnings over 5 years
Needs positive net income five years ago and in the latest year.
Net margin against its history
Needs five years of revenue and net income.
Net margin against the industry
Needs revenue and net income.
Financial health4/6
No debt
Chicago Atlantic BDC has no borrowings on its latest balance sheet.
Debt not rising
With no debt today, leverage cannot have risen.
Debt covered by cash flow
There is no debt to cover.
Interest well covered
No meaningful interest expense to cover.
Short-term liquidity
The balance sheet is not split into current and non-current items.
Elevated bankruptcy risk
The Altman Z-score is 1.18; above 3 is the safe zone and below 1.8 the distress zone.
Dividend3/6
Pays a dividend
Chicago Atlantic BDC paid dividends worth 14.8% of the share price over the last twelve months.
Yield above Treasuries
The 14.8% yield is above the 4.4% on a 1-year Treasury.
Yield in the top quarter
The top quarter of US dividend payers yield 3.8% or more; Chicago Atlantic BDC yields 14.8%.
Dividend stability
Fewer than five years of dividend history.
Not covered by earnings
Dividends take 101% of net income, leaving little room.
Cash-flow cover
Needs dividends paid and free cash flow.
Fair value
How we estimate itOur estimate per share
$24.81
The share price is 63% below this estimate.
| Method | Multiple used | Own 5Y median | Industry median | Value per share | Weight |
|---|---|---|---|---|---|
| P/E | 19.6× | – | 19.6× | $26.43 | 80% |
| P/B | 1.4× | 0.7× | 1.9× | $18.36 | 20% |
| Fair value | $24.81 | 100% | |||
Valuation over time
Using the earnings and balance sheet published at each date, not today's.
- P/B at month end
- Own 5-year median 0.7
- US market median 1.9
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
High risk
- Average value traded per day
- $557.82K
- Value traded per 1% price move
- $650.45K
Downside
Low risk
- Typical loss in a bad month
- 11.0%
- Volatility (annualized)
- 23%
- Sharpe ratio, 1 year
- -0.61
- Beta to the S&P 500 (5Y)
- -0.01
Typical bad-month loss, week by week
Margins need revenue and profit figures
This company does not report the lines needed to calculate margins.
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Net income | +245.8% | -26.8% | – | – | |
| EPS, diluted | +57.0% | – | – | – |
Returns and balance sheet
4 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2021 | FY2021 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | 11.0% | |
| Diluted shares | – | – | 23M |
Cash use needs five years of cash flow figures
Chicago Atlantic BDC does not report operating cash flow and capital expenditure for each of the last five fiscal years.
DuPont needs revenue, assets and equity
This company does not report all three for consecutive years.
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero$33.28M
- Cash generatingOperating cash flow above zero-$20.48M
- Return on assets improvedROA up on the prior year– → 10.8%
- Earnings backed by cashOperating cash flow above net income-$20.48M vs $33.28M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise10M → 23M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose– → –
See a number that looks wrong?