Investcorp Credit Management BDC, Inc. ICMB
Except as otherwise indicated, the terms "we," "us," "our," "Investcorp Credit" and the "Company" refer to Investcorp Credit Management BDC, Inc. (formerly known as CM Finance Inc through August 30, 2019) and "CM Investment Partners" and the "Adviser" refer to our investment adviser and administrator, CM Investment Partners LLC.
We were formed in February 2012 and commenced operations in March 2012 as CM Finance LLC, a Maryland limited liability company. Immediately prior to the pricing of our initial public offering, CM Finance LLC was merged with and into CM Finance Inc, a Maryland corporation (the "Merger"). On August 30, 2019, we changed our name to Investcorp Credit Management BDC, Inc. We are an externally managed, non-diversified closed-end management investment company that has elected to be regulated as a business development company ("BDC") under the Investment Company Act of 1940, as amended (the "1940 Act"), and that has elected to be treated as a regulated investment company ("RIC") under Subchapter M of the Internal Revenue Code, as amended (the "Code") for U.S. federal income tax purposes.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Total operating expenses | $15.4M | $17.4M | $17.3M | $15.7M | $18.0M | — | — |
| Interest expense | $14.6M | $20.3M | $23.8M | $22.7M | $7.4M | — | — |
| Pre-tax income | — | -$3.8M | $3.5M | $2.9M | -$2.0M | — | — |
| Income tax | — | $267.1K | $294.3K | $270.6K | $269.0K | — | — |
| Net income | -$8.8M | -$4.1M | $3.2M | $2.6M | -$2.3M | — | — |
| EPS, basic | -0.61 | -0.28 | 0.22 | 0.18 | -0.17 | — | — |
| EPS, diluted | -0.61 | -0.28 | 0.22 | 0.18 | -0.17 | — | — |
| Shares, diluted (wtd. avg.) | $14.4M | $14.4M | $14.4M | $14.3M | $13.9M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Cash and equivalents | $4.6M | $158.8K | $1.1M | $9.2M | $12.6M | $20.3M | — |
| Total assets | $188.8M | $192.2M | $231.8M | $246.4M | — | — | — |
| Long-term debt | $123.9M | $108.0M | $136.9M | $149.0M | $167.0M | $183.4M | $167.5M |
| Total liabilities | $127.5M | $117.2M | $144.1M | $152.9M | — | — | — |
| Retained earnings | -$141.8M | -$128.1M | -$115.6M | -$110.1M | -$104.3M | — | — |
| Total equity | $61.3M | $75.0M | $87.7M | $93.5M | — | — | — |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | $11.7M | $37.1M | $20.7M | $21.2M | $20.2M | — | — |
| Financing cash flow | -$8.8M | -$41.1M | -$20.7M | -$24.7M | -$27.9M | — | — |
| Buybacks | $39.2K | $0 | $0 | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-132860.