Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price8.66 USD
Fair value16.00
Ethical score10.0/100
RatingAVOID
Our investment reviews on this name
2026-10-21Read Distribution9.13-5.1% to today ✓Markdown gives way to Distribution after a 7% slide in 3 weeks
2026-10-02Read Markdown9.82-11.8% to today ✓Distribution gives way to Markdown after a 12% slide in 13 weeks
2026-07-02Read Distribution11.11-22.1% to today ✓First review on file: Distribution
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Crescent Capital BDC, Inc. holds its Distribution at $8.66. The statistical read favours the sellers, held for 31 days.
As held on the ledger · 2026-10-23
Phase
Distribution · caution
Quantitative state
The statistical read favours the sellers, held for 31 days
Price at the screen
$8.66
Valuation
10.56 trailing · 6.27 forward price to earnings
Values screen
FAIL· score 10.0
The Workings
Five Screens, Shown in Full
Does not pass. Business activity: conventional financial services
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Its core business involves an activity the values screen does not clear.
Fail
Debt load
180.28%
Below 33%
Interest-bearing debt is 180.3% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
1.04%
Below 33%
Cash held in interest-bearing accounts and securities is 1.0% of assets, under the one-third limit.
Pass
Receivables
0.00%
Below 49%
Money owed to the company is 0.0% of assets, under the 49% limit.
Pass
Revenue purity
329.76%
Below 5%
329.8% of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Crescent Capital BDC, does not clear the screen at the business-activity stage. It operates in conventional financial services, which the screen treats as interest-based, so the financial ratios are not the deciding factor here.
Read as at 2026-10-27. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when CCAP's ethical verdict changes
Today CCAP does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads AVOID: it trades at roughly a 75% discount to our $16.00 fair value, weak competitive moat.
Fair value range in USD, drawn from the 2026-10-23 screen. The gold marker is the market price at the same screen. A 75.2% margin of safety to the base estimate.
Third-party analyst targets: 7 covering, consensus Buy. The average target sits +67% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-23 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Why it gives us pause
At 6.3x forward earnings, the price already runs ahead of the business. Our fair value sits at $16.00, below where it trades today. The weak moat is real, but quality alone does not make an expensive price cheap.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
CCAP trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-28Distribution$9.13+0.0%Entry 9
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 9%. The street (7 analysts) rates it hold, with a mean price target of $12.
2026-10-21Distribution · changed$9.13+0.4%Entry 8
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 0.4% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 9%. The street (7 analysts) rates it none, with a mean price target of $12.
2026-10-14Markdown$9.09-7.4%Entry 7
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 7.4% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 9%. The street (7 analysts) rates it none, with a mean price target of $12.
2026-10-02Markdown · changed$9.82-11.6%Entry 6
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 11.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 9%. The street (7 analysts) rates it none, with a mean price target of $12.
2026-08-24Distribution$11.11+0.0%Entry 5
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 9%. The street (7 analysts) rates it buy, with a mean price target of $14.
2026-07-24Distribution$11.11+0.0%Entry 4
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 9%. The street (7 analysts) rates it buy, with a mean price target of $14.
2026-07-18Distribution$11.11+0.0%Entry 3
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 13%. Our forward projection puts the odds of a 10% gain over the next month near 9%. The street (7 analysts) rates it buy, with a mean price target of $14.
2026-07-03Distribution$11.11+0.0%Entry 2
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns.
2026-07-02Distribution$11.11Entry 1
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
The Insider Ledger · Form 4 Filings, As Filed
Most recent filings · CCAP
Date
Insider
Title
Type
Shares
Value
2026-05-19
STRANDBERG STEVEN F.
Director
85,000
$958,486
2026-05-18
LOMBARD GERHARD
Chief Financial Officer
1,000
$11,120
2025-11-17
LOMBARD GERHARD
Chief Financial Officer
2,000
$26,683
2025-08-28
BOUEK KIRILL
Officer
200
$3,133
2025-08-25
BARRIOS RAYMOND F.
Officer
3,245
$50,713
2025-06-04
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