Company overview
Understand the business
As a BDC, Crescent Capital raises capital from shareholders and lenders, then invests primarily in loans to private companies. Its portfolio income generally comes from interest on those loans, including floating-rate loans, as well as fees and other investment income. Cash available for shareholder distributions is influenced by the portfolio’s interest income, borrowing costs, credit performance, realized gains or losses, expenses, and the level of leverage. BDCs generally distribute a substantial portion of taxable income, which can make their distributions meaningful but also closely tied to portfolio results and market conditions.
Primary earnings measures
The recurring earnings measure used for coverage here is Crescent Capital’s reported earnings per share measure. Annual earnings are ﹩1.54 per share as of September 13, 2026. This is the relevant measure for the coverage calculation presented here; generic accounting earnings should not be substituted for it. The company also has a reported recurring-earnings metric of ﹩1.16, but the available evidence does not establish its definition or period well enough to use it for distribution coverage.
How the company supports its distribution
Crescent Capital’s regular distribution is funded primarily by income earned on its investment portfolio. A higher level of performing, income-producing investments can support this income stream, while lower benchmark rates, repayment activity, increased funding costs, non-accrual loans, restructurings, and realized credit losses can weaken it. Supplemental and special distributions should be assessed separately from the regular distribution because they may depend on income or gains that are not recurring.