Chicago Atlantic BDC Inc (LIEN) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 3, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the LIEN SEC filings page.
This page shows Chicago Atlantic BDC Inc (LIEN) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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).
Accounting earnings are not converting into operating cash, while distributions and rising liabilities shape the financing model
In FY2024 and FY2025, net income remained positive while operating cash flow remained negative. By FY2025, that divergence paired positive earnings with operating cash flow of-$20.5M , while dividends of$23.3M were paid, showing that reported profitability and internally generated cash are moving in opposite directions.
Liabilities rose from
Equity was
Financial Health Signals
Chicago Atlantic BDC Inc does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Chicago Atlantic BDC Inc passes 2 of 5 computable financial strength tests (4 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
For every $1 of reported earnings, Chicago Atlantic BDC Inc used $0.62 of operating cash (-$20.5M OCF vs $33.3M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.
Key Financial Metrics
Earnings & Revenue
Chicago Atlantic BDC Inc reported $6.1M in net income in Q2 2026. This represents a decrease of 29.4% from the same quarter a year earlier. Against the prior quarter it is down 29.0%.
Chicago Atlantic BDC Inc earned $0.27 per diluted share (EPS) in Q2 2026. This represents a decrease of 28.9% from the same quarter a year earlier. Against the prior quarter it is down 27.0%.
Not reported for Q2 2026.
Not reported for Q2 2026.
Cash & Balance Sheet
Chicago Atlantic BDC Inc held $926K in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Chicago Atlantic BDC Inc's ROE was 2.0% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 0.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.8 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
None of these metrics is reported for Q2 2026.
LIEN Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| SG&A Expenses | $1.1M-16.4% | $1.2M+24.5% | N/A | $1.1M | $1.4M | $974K | N/A | $0 |
| Interest Expense | $1.0M+232.3% | $1.0M+604.7% | N/A | $339K | $301K | $145K | N/A | $0-100.0% |
| Net Income | $6.1M-29.4% | $8.5M+12.1% | N/A | $8.8M+5453.6% | $8.6M+564.0% | $7.6M+836.5% | N/A | -$165K+93.8% |
| EPS (Basic) | $0.27-28.9% | $0.37+12.1% | $0.36-45.5% | $0.39+1400.0% | $0.38+81.0% | $0.33+312.5% | $0.66+65.0% | -$0.03-115.0% |
| EPS (Diluted) | $0.27-28.9% | $0.37+12.1% | $0.36-45.5% | $0.39 | $0.38 | $0.33 | $0.66 | -$0.03 |
| Diluted Shares (Avg) | 23M0.0% | 23M0.0% | N/A | 23M | 23M | 23M | N/A | 6M |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA, Income Tax.
LIEN Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $344.0M+3.7% | $373.1M+18.9% | $342.0M+10.5% | $327.3M+266.6% | $331.8M+268.3% | $313.7M+247.2% | $309.6M+249.5% | $89.3M+0.1% |
| Cash & Equivalents | $926K-93.3% | $3.3M-77.6% | $2.9M-87.7% | $10.5M-65.3% | $13.8M-59.3% | $14.9M-55.0% | $23.9M-26.6% | $30.1M+1.0% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $41.5M+38.7% | $68.9M+443.7% | $38.6M+359.5% | $24.3M+261.1% | $29.9M+414.0% | $12.7M+117.4% | $8.4M+177.8% | $6.7M+278.0% |
| Total Equity | $302.5M+0.2% | $304.2M+1.1% | $303.4M+0.7% | $302.9M+267.0% | $301.8M+258.2% | $301.0M+256.2% | $301.2M+252.0% | $82.5M-5.6% |
| Retained Earnings | -$818K+46.8% | $877K+137.1% | $26K+101.1% | -$462K+81.9% | -$1.5M-84.1% | -$2.4M-311.6% | -$2.3M-620.3% | -$2.6M-211.0% |
Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities, Non-Current Liabilities, Long-Term Debt.
LIEN Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $33.0M+1591.2% | -$20.8M-186.7% | -$13.8M-87.7% | -$1.4M+39.0% | $1.9M-21.4% | -$7.3M-445.4% | -$7.3M-202.7% | -$2.3M-372.0% |
| Depreciation & Amortization | -$553K+20.2% | -$1.4M-166.5% | -$595K+0.8% | -$890K-484.8% | -$693K-233.7% | -$523K-269.7% | -$600K-58.1% | -$152K-17.5% |
| Financing Cash Flow | -$35.4M-1063.5% | $21.2M+1316.3% | $6.2M+440.4% | -$2.0M-22.7% | -$3.0M-85.7% | -$1.7M-12.3% | $1.2M+126.6% | -$1.6M+58.9% |
| Dividends Paid | $7.8M0.0% | $7.8M | $7.8M0.0% | $7.8M+399.3% | $7.8M+399.4% | $0-100.0% | $7.8M+78.4% | $1.6M-60.3% |
Not reported in any period shown, so not listed: Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Share Buybacks.
LIEN Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | 2.0%-0.8pp | 2.8%+0.3pp | N/A | 2.9%+3.1pp | 2.8%+1.3pp | 2.5%+3.8pp | N/A | -0.2%+2.8pp |
| Return on Assets | 1.8%-0.8pp | 2.3%-0.1pp | N/A | 2.7%+2.9pp | 2.6%+1.1pp | 2.4%+3.6pp | N/A | -0.2%+2.8pp |
| Debt-to-Equity | 0.140.0x | 0.23+0.2x | 0.13+0.1x | 0.080.0x | 0.100.0x | 0.040.0x | 0.030.0x | 0.08+0.1x |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Current Ratio, Asset Turnover, FCF Margin.
Where Chicago Atlantic BDC Inc Ranks
Frequently Asked Questions
Is Chicago Atlantic BDC Inc profitable?
Yes, Chicago Atlantic BDC Inc (LIEN) reported a net income of $33.3M in fiscal year 2025.
What is Chicago Atlantic BDC Inc's return on equity (ROE)?
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.
What is Chicago Atlantic BDC Inc's operating cash flow?
Chicago Atlantic BDC Inc (LIEN) recorded an outflow of $20.5M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Chicago Atlantic BDC Inc's total assets?
Chicago Atlantic BDC Inc (LIEN) had $342.0M in total assets as of fiscal year 2025, including both current and long-term assets.
What is Chicago Atlantic BDC Inc's debt-to-equity ratio?
Chicago Atlantic BDC Inc (LIEN) had a debt-to-equity ratio of 0.13 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Chicago Atlantic BDC Inc's return on assets (ROA)?
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.
What is Chicago Atlantic BDC Inc's P/E ratio?
Chicago Atlantic BDC Inc (LIEN) trades at 7.1x earnings, its market capitalization divided by net income of $33.3M net income, FY2025. The market capitalization is $235.7M as of Sep 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Chicago Atlantic BDC Inc's price-to-sales ratio?
Chicago Atlantic BDC Inc (LIEN) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $235.7M as of Sep 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Chicago Atlantic BDC Inc's Piotroski F-Score?
Chicago Atlantic BDC Inc (LIEN) has a Piotroski F-Score of 2 out of 5 computable signals; 4 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Chicago Atlantic BDC Inc's earnings high quality?
For every $1 of reported earnings, Chicago Atlantic BDC Inc (LIEN) used $0.62 of operating cash (-$20.5M OCF vs $33.3M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. 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.