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Chicago Atlantic BDC Inc Financials

LIEN
Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Chicago Atlantic BDC Inc (LIEN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Piotroski F-Score Weak
2/9

Chicago Atlantic BDC Inc passes 2 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Low Quality
-0.15x

For every $1 of reported earnings, Chicago Atlantic BDC Inc generates $-0.15 in operating cash flow (-$5.0M OCF vs $33.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue
N/A
EBITDA
N/A
Net Income
$33.3M
YoY+3705.1%

Chicago Atlantic BDC Inc reported $33.3M in net income in fiscal year 2025. This represents an increase of 3705.1% from the prior year.

EPS (Diluted)
$0.93

Chicago Atlantic BDC Inc earned $0.93 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 21.2% from the prior year.

Cash & Balance Sheet

Free Cash Flow
N/A
Cash & Debt
$23.9M
YoY-26.6%

Chicago Atlantic BDC Inc held $23.9M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share
$0.34

Chicago Atlantic BDC Inc paid $0.34 per share in dividends in fiscal year 2025.

Shares Outstanding
23M

Chicago Atlantic BDC Inc had 23M shares outstanding in fiscal year 2025. This represents an increase of 267.2% from the prior year.

Margins & Returns

Gross Margin
N/A
Operating Margin
N/A
Net Margin
N/A
Return on Equity
11.0%
YoY+12.1pp

Chicago Atlantic BDC Inc's ROE was 11.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 12.1 percentage points from the prior year.

Capital Allocation

R&D Spending
N/A
Share Buybacks
N/A
Capital Expenditures
N/A

LIEN Income Statement

Metric Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Q4'23
Revenue N/A N/A N/A N/A N/A N/A N/A N/A
Cost of Revenue N/A N/A N/A N/A N/A N/A N/A N/A
Gross Profit N/A N/A N/A N/A N/A N/A N/A N/A
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses $1.1M-20.8% $1.4M+40.3% $974K N/A $0 $0 $0 N/A
Operating Income N/A N/A N/A N/A N/A N/A N/A N/A
Interest Expense $339K+12.4% $301K+107.2% $145K N/A $0 $0 $0 N/A
Income Tax N/A N/A N/A N/A N/A N/A N/A N/A
Net Income $8.8M+2.9% $8.6M N/A N/A -$165K-112.8% $1.3M+225.1% -$1.0M N/A
EPS (Diluted) $0.39+2.6% $0.38+15.2% $0.33 N/A $-0.03 $0.21+162.5% $0.08 N/A

LIEN Balance Sheet

Metric Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Q4'23
Total Assets $327.3M-1.4% $331.8M+5.8% $313.7M+1.3% $309.6M+246.7% $89.3M-0.9% $90.1M-0.3% $90.4M+2.0% $88.6M
Current Assets N/A N/A N/A N/A N/A N/A N/A N/A
Cash & Equivalents $10.5M-24.3% $13.8M-7.3% $14.9M-37.7% $23.9M-20.5% $30.1M-11.4% $34.0M+2.5% $33.2M+1.7% $32.6M
Inventory N/A N/A N/A N/A N/A N/A N/A N/A
Accounts Receivable N/A N/A N/A N/A N/A N/A N/A N/A
Goodwill N/A N/A N/A N/A N/A N/A N/A N/A
Total Liabilities $24.3M-18.6% $29.9M+135.8% $12.7M+51.0% $8.4M+24.6% $6.7M+15.8% $5.8M-0.2% $5.8M+92.9% $3.0M
Current Liabilities N/A N/A N/A N/A N/A N/A N/A N/A
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A N/A
Total Equity $302.9M+0.4% $301.8M+0.3% $301.0M0.0% $301.2M+264.9% $82.5M-2.0% $84.3M-0.3% $84.5M-1.2% $85.6M
Retained Earnings -$462K+69.9% -$1.5M+34.9% -$2.4M-1.1% -$2.3M+8.5% -$2.6M-205.9% -$835K-45.5% -$574K-227.8% $449K

LIEN Cash Flow Statement

Metric Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Q4'23
Operating Cash Flow -$1.4M-171.5% $1.9M+126.8% -$7.3M+1.0% -$7.3M-221.0% -$2.3M-192.1% $2.5M+18.0% $2.1M-70.5% $7.1M
Capital Expenditures N/A N/A N/A N/A N/A N/A N/A N/A
Free Cash Flow N/A N/A N/A N/A N/A N/A N/A N/A
Investing Cash Flow N/A N/A N/A N/A N/A N/A N/A N/A
Financing Cash Flow -$2.0M+35.2% -$3.0M-74.2% -$1.7M-251.2% $1.2M+171.9% -$1.6M+1.9% -$1.6M-5.4% -$1.6M+64.3% -$4.3M
Dividends Paid $7.8M0.0% $7.8M $0-100.0% $7.8M+399.5% $1.6M0.0% $1.6M0.0% $1.6M-64.3% $4.3M
Share Buybacks N/A N/A N/A N/A N/A N/A N/A N/A

LIEN Financial Ratios

Metric Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Q4'23
Gross Margin N/A N/A N/A N/A N/A N/A N/A N/A
Operating Margin N/A N/A N/A N/A N/A N/A N/A N/A
Net Margin N/A N/A N/A N/A N/A N/A N/A N/A
Return on Equity 2.9%+0.1pp 2.8% N/A N/A -0.2%-1.7pp 1.5%+2.8pp -1.2% N/A
Return on Assets 2.7%+0.1pp 2.6% N/A N/A -0.2%-1.6pp 1.4%+2.6pp -1.1% N/A
Current Ratio N/A N/A N/A N/A N/A N/A N/A N/A
Debt-to-Equity 0.08-0.0 0.10+0.1 0.04+0.0 0.03-0.1 0.08+0.0 0.070.0 0.07+0.0 0.04
FCF Margin N/A N/A N/A N/A N/A N/A N/A N/A

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Frequently Asked Questions

Yes, Chicago Atlantic BDC Inc (LIEN) reported a net income of $33.3M in fiscal year 2025.

Chicago Atlantic BDC Inc (LIEN) reported diluted earnings per share of $0.93 for fiscal year 2025. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Yes, Chicago Atlantic BDC Inc (LIEN) paid $0.34 per share in dividends during fiscal year 2025.

Chicago Atlantic BDC Inc (LIEN) has a return on equity of 11.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Chicago Atlantic BDC Inc (LIEN) generated -$5.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Chicago Atlantic BDC Inc (LIEN) had $309.6M in total assets as of fiscal year 2025, including both current and long-term assets.

Chicago Atlantic BDC Inc (LIEN) had 23M shares outstanding as of fiscal year 2025.

Chicago Atlantic BDC Inc (LIEN) had a debt-to-equity ratio of 0.03 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Chicago Atlantic BDC Inc (LIEN) had a return on assets of 9.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Based on fiscal year 2025 data, Chicago Atlantic BDC Inc (LIEN) had $23.9M in cash against an annual operating cash burn of $5.0M. This gives an estimated cash runway of approximately 57 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

Chicago Atlantic BDC Inc (LIEN) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Chicago Atlantic BDC Inc (LIEN) has an earnings quality ratio of -0.15x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

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