Chicago Atlantic BDC, Inc. (LIEN) Stock

Chicago Atlantic BDC, Inc. (LIEN) is a Financial Services stock trading at $9.37 (as of 2026-07-24), with a market capitalization of $213.83M and a trailing P/E of 6.3. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Silver Spike Investment Corp., is a a business development company. It is a specialty finance company, focuses on investing across the cannabis ecosystem through investments in the form of direct loans to, and equity ownership of, privately held cannabis companies. It intends to partner with private equity firms, entrepreneurs, business owners, and management teams to provide credit and equity financing alternatives to support buyouts, recapitalizations, growth initiatives, refinancings, and acquisitions across cannabis companies, including cannabis-enabling technology companies, cannabis-related health and wellness companies, and hemp and CBD distribution companies. The company was founded in 2021 and is based in New York, New York.

Understand Chicago Atlantic BDC, Inc.: how it makes money

Chicago Atlantic BDC, Inc. is a business development company that provides credit and takes equity stakes in privately held companies across the cannabis ecosystem, primarily through direct loans and equity ownership.

The profit engine is the growth and pricing of its debt portfolio, tracked by the Active Debt Pipeline and the Weighted Average Yield on Debt Investments, with new funding and repayments driving investment activity over time.

Business quality (Solid): Investor-relevant operating metrics are available (pipeline size and weighted average debt yield), but no official reportable segments or segment revenue breakdowns were provided.

Valuation: At 7× earnings, LIEN trades 35% below the Asset Management average (10×). Note: one-time items can distort reported P/E.

Bull case

  • Debt underwriting focus, measurable through yield: The company reports Weighted Average Yield on Debt Investments (15.8 percent), giving investors a direct read on the pricing of its debt strategy.
  • Pipeline visibility: Potential Debt Transactions in Pipeline (0.73 USD_B) and Active Debt Pipeline (0.55 USD_B) provide a view into near-term deal opportunity versus currently active exposure.

Bear case

  • Credit and portfolio performance risk: Because the strategy includes direct loans, adverse outcomes could affect loan repayments and the value of secured loans and notes (reported via fair value metrics).
  • Niche sector concentration: The company focuses on investing across the cannabis ecosystem, including cannabis-enabling technology, which can limit diversification versus broader specialty finance mandates.
Valuation — source: SEC EDGAR (first-party)
Price$9.37
Market Cap$213.83M
P/E Ratio6.3
Price / Book0.70
Price / Sales3.62
DCF Value (model)$27.14
DCF Upside vs Price189.6%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$54.30M
Net Margin61.3%
Revenue Growth (YoY)40.1%
EPS Growth (YoY)12.1%
Valuation vs Sector & Industry
Stock P/E6.3
Sector P/E (Financial Services)8.9
Industry P/E (Asset Management)8.9
vs Sector-29.7%
vs Industry-29.9%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderINTREPID CAPITAL MANAGEMENT INC ($7.06M)
Institutional Holders Tracked10
Company
SectorFinancial Services
IndustryAsset Management
CEOPeter S. Sack
CountryUS
IPO Date2022-02-04

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LIEN earnings history · LIEN institutional & insider holders · LIEN KPIs & operating metrics · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-07-24.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.