The sequential and year-over-year declines in NII and NAV, combined with rising leverage, signal a deteriorating earnings power for CCAP. Monitor the upcoming conference call for commentary on portfolio credit quality and the trajectory of dividend coverage, as the base dividend of $0.34 per share now represents a 94% payout ratio vs Q2 NII of $0.36.
Price Chart
Executive Summary
Crescent Capital BDC reported Q2 2026 net investment income (NII) of $0.36 per share, slightly below the $0.37 consensus estimate, and down from $0.42 in Q1 2026 and $0.46 a year ago. Total investment income fell to $36.3M from $37.9M QoQ and $43.0M YoY, driven by lower dividend income from a JV investment and reduced prepayment fees. NAV per share continued to decline to $17.82 from $18.27 in Q1 and $19.55 a year ago, while the net debt-to-equity ratio increased to 1.37x from 1.32x, reflecting a weakening credit profile for this BDC.
Key Financial Metrics
Key Facts
- Net investment income of $0.36 per share missed consensus of $0.37 by 2.7%
- Total investment income fell to $36.3M from $37.9M QoQ and $43.0M YoY
- NAV per share declined to $17.82 from $18.27 in Q1 2026 and $19.55 a year ago
- Net debt-to-equity ratio increased to 1.37x from 1.32x in Q1 2026
- Base dividend maintained at $0.34 per share for Q3 2026
- Weighted average yield on income-producing securities fell to 9.6% from 9.8% QoQ and 10.4% YoY
Financial Impact
NII miss of ~$0.01 per share vs consensus; investment income down ~$6.7M YoY; NAV erosion of ~$0.45 per share QoQ
Risk Factors
- Further NAV erosion if portfolio companies face credit stress
- Dividend cut risk if NII continues to decline toward the $0.34 base dividend level
- Rising interest expense from higher debt balances and floating-rate exposure could compress NII further
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-342415 |
| Document: ccap-20260810.htm | 0001193125-26-342415 |
| Document: 0001193125-26-342415-index-headers.html | 0001193125-26-342415 |
| Document: 0001193125-26-342415-index.html | 0001193125-26-342415 |
| Document: 0001193125-26-342415.txt | 0001193125-26-342415 |
| 8-K Data (Synthetic) | 0001193125-26-342415 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 28, 2026 8w ago | Insider Cluster | $10.54 $9.50 | ▼ −9.87% | ▼ −10.13% | $8.91 (−15.46%) |
Aug 26, 2026 8w ago | Insider Cluster | $10.57 $9.58 | ▼ −9.37% | ▼ −9.59% | $8.91 (−15.70%) |
Aug 10, 2026 11w ago | 8-K | $11.44 $10.23 | ▲ +10.58% | ▲ +9.52% | $8.91 (+22.12%) |
Jun 24, 2026 17w ago | 8-K | $10.96 $10.78 | ▼ −1.64% | ▼ −2.17% | $8.91 (−18.70%) |
May 22, 2026 22w ago | Insider Cluster | $11.41 $11.21 | ▼ −1.80% | ▲ +0.15% | $8.91 (−21.91%) |
May 13, 2026 23w ago | Press Release | $11.96 $11.26 | ▼ −5.84% | ▼ −4.98% | $8.91 (−25.49%) |
Apr 27, 2026 26w ago | Press Release | $13.43 $11.44 | ▼ −14.82% | ▼ −20.29% | $8.91 (−33.66%) |
Feb 25, 2026 34w ago | 8-K | $12.82 $12.40 | ▼ −3.32% | ▲ +1.92% | $8.91 (−30.50%) |
US Market Status
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