Palmer Square Capital BDC Inc. (PSBD) Stock

Palmer Square Capital BDC Inc. (PSBD) is a Financial Services stock trading at $9.49 (as of 2026-07-24), with a market capitalization of $295.49M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Palmer Square Capital BDC, Inc. (PSBD) provides investment funds by lending to and investing in corporate debt securities. The company focuses on corporate debt as part of its investing activities and is headquartered in Mission Woods, Kansas.

Understand Palmer Square Capital BDC Inc.: how it makes money

Palmer Square Capital BDC, Inc. provides investment funds, mainly by lending and investing in corporate debt securities, with returns tied to the performance of that credit portfolio.

The profit engine is credit performance, which shows up in how much of the portfolio is income producing (Income Producing Portfolio Percentage) and how much becomes non-accrual (Non-Accrual Loans as Percentage of Fair Value).

Business quality (Weak): Recent portfolio statistics point to strong income production and mostly senior secured exposure, but the business still carries credit risk, evidenced by a non-zero level of non-accrual and borrower leverage.

Valuation: At 153× earnings, PSBD trades 1384% above the Asset Management average (10×). Note: one-time items can distort reported P/E.

Bull case

  • High share of income-producing assets: Income Producing Portfolio Percentage is 99.76%.
  • Concentration in senior secured lending: Senior Secured Loan Investment Percentage is 96.0%, and First Lien Senior Secured Debt Investments as a Percentage is 87.0%.
  • Low non-accrual level: Non-Accrual Loans as Percentage of Fair Value is 0.09%.
  • Broad diversification across industries and many holdings: Diversification Across Industries Number of Industries is 44, with 283 investments across 214 portfolio companies.

Bear case

  • Non-accrual risk is not zero: Non-Accrual Loans as Percentage of Fair Value is 0.09%, and Non-Accruals at Cost Basis is 0.9%.
  • Borrower leverage can raise default and restructuring risk: Senior Secured Leverage of First Lien Borrowers is 5.5, and Weighted Average Senior Secured Leverage is 5.3.
  • New funding scale in the quarter appears limited: New Investments Invested and Aggregate Principal Amount of New Investments Funded are both 0.09 USD_B.
Valuation — source: SEC EDGAR (first-party)
Price$9.49
Market Cap$295.49M
Price / Book0.71
Price / Sales2.47
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$124.39M
Net Margin-2.5%
Revenue Growth (YoY)-16.0%
Valuation vs Sector & Industry
Sector P/E (Financial Services)8.9
Industry P/E (Asset Management)8.9
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderOV Management LLC ($36.44M)
Institutional Holders Tracked10
Company
SectorFinancial Services
IndustryAsset Management
CEOChristopher Dale Long
CountryUS
IPO Date2024-01-18

Related Companies (Business model: Closed-End Fund; 8 closest by market cap; US-domiciled)

  • Barings Corporate Investors (MCI)
  • SuRo Capital Corp. (SSSS)
  • Saratoga Investment Corp. (SAR)
  • CION Investment Corporation (CION)
  • Horizon Technology Finance Corporation (HRZN)
  • Live Oak Acquisition Corp. V Class A Ordinary Shares (LOKV)
  • BlackRock TCP Capital Corp. (TCPC)
  • Lightbridge Corporation (LTBR)
PSBD earnings history · PSBD institutional & insider holders · PSBD 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.