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Investcorp Credit Management BDC Inc (ICMB) fair value: what the stock is really worth

As of Nov 6, 2026: fair value (intrinsic value) of Investcorp Credit Management BDC Inc stock $1.22, price $0.61, upside +99.8%, quality 48 out of 100. Rating: strongly undervalued. Calculated from audited financials with 2 of our 26 valuation models and 37 quality factors, updated daily.

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Financial Services US

IC Investcorp Credit Management BDC Inc logo Thin data Nov 8, 2026

Investcorp Credit Management BDC Inc

ICMB · US
Cheap, value-trap risk

The stock costs 50% less than our calculation considers fair.

Fair value $1.22 · Strongly undervalued
Generates free cash flow
Even on cautious assumptions the value is 50% above the price ($0.9170).
Quality 48/100
Mixed Growth (revenue YoY −85.7 %/yr in USD)
Mixed vs. peers (5/11)
Loss-making · -131.3% net margin (TTM)
High debt
Narrow moat 33/100 · thin data
Thin data
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$3.21 $0.6104 Fair Value $1.22 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.

How to read this chart

60‑month range $0.6104 – $3.21 · fair‑value band $0.9170 – $1.53 · the $0.6107 price screens below the $1.22 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.

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Company profile

Investcorp Credit Management BDC, Inc. is a business development company specializing in loan, mezzanine, middle market, growth capital, acquisitions, market/product expansion, organic growth, refinancings and recapitalization investments.

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It also selectively invests in mezzanine loans/structured equity and in the equity of portfolio companies through warrants and other instruments, in most cases taking such upside participation interests as part of a broader investment relationship.

The fund typically invests in United States and Europe. Within United States, the fund seeks to invest in Midatlantic, Midwest, Northeast, Southeast, and West Coast regions.

The fund primarily invests in cable and satellites; consumer services; healthcare equipment and services; industrials; information technology; telecommunication services; and utilities sectors.

The fund seeks to invest between $5 million to $25 million in companies that have annual revenues of at least $50 million with EBITDA at least $15 million.

Stock analysis

Investcorp Credit Management BDC Inc (ICMB) currently trades at $0.6107, while our model-based Fair Value estimate is $1.22, implying the stock looks roughly 50% undervalued today.

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Valuation

How firm this estimate is: it rests on 2 models at a data quality of 96/100, which puts the data coverage at low.

Scenario range: $0.9170 (bear) to $1.53 (bull), the price of $0.6107 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 48/100 (below-average quality), in the Financial Services sector.

Mixed Growth: Spin-off in 2018: revenue and profit before it include the divested business. Growth is measured afresh from 2018.

Investcorp Credit Management BDC Inc reported revenue of $3.3M in FY2026 versus $24.4M in FY2022, a compound −39.2%/yr. Reported net income was −$8.8M in FY2026.

Key figures

Market cap $8.8M Micro · P/S ratio 0.58 · EPS (TTM) $−1.42 · Net margin −131% · Return on equity −31.7% · Return on assets (EBIT) 3.7% (5-year average) · Operating margin 65.3% · Revenue growth (YoY) −31.1%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 33 out of 100 (low confidence).

What moves the price

The share trades about 80% below its 52-week high and at its 52-week low, currently below its 200-day average.

For context, the median of 10 Financial Services peers we cover trades at −16% fair-value upside, at 100%, ICMB screens cheaper than that median.

Fair Value models

Bear $0.9170 Fair Value $1.22 Bull $1.53
Price $0.6107 · Upside +99.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
P/B Multiple $2.71 $3.61 $4.51 55
NCAV (Graham) $2.12 $2.85 $4.25 54
All 2 models by family
Multiples
P/B Multiple $2.71 $3.61 $4.51 55
Asset-Based
NCAV (Graham) $2.12 $2.85 $4.25 54

Open the full fair value analysis →

Quality Score breakdown

Overall quality 48/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 0
How much profit the company makes from its sales and capital
Quality Growth 1
Are margins and returns getting better?
Cashflow 100
Do the profits arrive as real cash?
Financial strength 16
Debt, balance sheet and risk of trouble
Investment 100
Does it invest with discipline instead of growing at any price?
Low Volatility 41
How calm the share price moves, does not count
Price momentum 6
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 0
Distance to the 52-week high, does not count
New shares 81
Buys back shares or issues new ones?

Open the full quality analysis →

Insider trades

In the last 6 months, no officer or director bought or sold shares on the open market.

Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.

Source: SEC Form 4, as of Nov 6, 2026. All filings at the SEC ↗

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 55/100
Spin-off in 2018: revenue and profit before it include the divested business. Growth is measured afresh from 2018.
Revenue growth 1 year
−85.7%
Revenue growth 8 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−21.2%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−64.3% (2021) → −252.4% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed

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Compare Investcorp Credit Management BDC Inc with another stock

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Asset Management · 587 stocks

Beats the industry median on 6/11 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 48 · Bottom 25%
Fair Value upside +99.8% · Top 25%
Profitability
Return on assets −4.7% · Bottom 25%
Net margin (12 months) −131.3% · Bottom 25%
Operating margin (12 months) 65.3% · Above median
Growth and dividend
Revenue growth (quarter YoY) −31.1% · Bottom 25%
Dividend yield (12 months) 39.3% · Top 25%
Balance sheet
Debt / equity 2.55× · Highest 25%

Valuation Multiplesvs Asset Management median · lower = cheaper

P/B 0.14× · Cheapest 25%
P/S (12 months) 0.58× · Cheapest 25%
Price / free cash flow (fiscal year) 0.8× · Cheapest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 60
FUTURE (revenue growth)0 · sector 38
PAST (return on equity)0 · sector 29
HEALTH (low debt)0 · sector 96
DIVIDEND (yield)0 · sector 80

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Asset Management stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Exor N.V EXO €73.35 €139.37 +90% vs ICMB
Raymond James Financial, Inc RJF $162.81 $281.42 +73% vs ICMB
Apollo Global Management, Inc APO $116.75 $197.52 +69% vs ICMB
Ameriprise Financial, Inc AMP $501.49 $609.56 +22% vs ICMB
State Street Corporation STT $165.56 $139.37 −16% vs ICMB
Ares Management Corporation ARES $133.98 $99.35 −26% vs ICMB
Northern Trust Corporation NTRS $172.76 $123.42 −29% vs ICMB
Brookfield Asset Management Ltd BAM $52.95 $31.26 −41% vs ICMB
Blackstone Inc BX $119.50 $52.29 −56% vs ICMB
KKR & Co KKR $96.48 $27.32 −72% vs ICMB

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Investcorp Credit Management BDC Inc: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Investcorp Credit Management BDC Inc Fair Value". https://www.fairvalue-calculator.com/stock/ICMB

Frequently asked questions

Is Investcorp Credit Management BDC Inc (ICMB) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of $1.22 versus a price of $0.6107, about +100% upside (undervalued).
What is the fair value of ICMB?
Our model-based fair value for Investcorp Credit Management BDC Inc is $1.22 (as of Nov 8, 2026), built from audited fundamentals. The current price: $0.6107.
What is the quality score of ICMB?
Investcorp Credit Management BDC Inc has a Quality Score of 48/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Investcorp Credit Management BDC Inc (ICMB)?
Our model-based price target is the fair value of $1.22 (as of Nov 8, 2026) from 2 valuation models. Cautious scenario $0.9170, optimistic scenario $1.53. It is a calculation from audited fundamentals, not an analyst target.
What is the Investcorp Credit Management BDC Inc stock forecast for 2026?
Our models put fair value at $1.22, about +100% upside versus a price of $0.6107 (undervalued). Cautious scenario $0.9170, optimistic scenario $1.53. The calculation is refreshed regularly with new filings.
What is the intrinsic value of Investcorp Credit Management BDC Inc (ICMB)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Investcorp Credit Management BDC Inc it is $1.22 per share (as of Nov 8, 2026), against a price of $0.6107. It is the blended result of 2 valuation models in 2 families (Multiples, Asset-Based).
Is Investcorp Credit Management BDC Inc stock overvalued or undervalued in 2026?
As of Nov 8, 2026, ICMB trades below its calculated fair value: price $0.6107, fair value $1.22, a gap of about +100% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ICMB?
No. The price is what the market pays today ($0.6107); the fair value is what the company's own numbers justify ($1.22). For Investcorp Credit Management BDC Inc the two are $0.6093 per share apart. That gap is exactly why we show both numbers side by side.
How much is Investcorp Credit Management BDC Inc worth?
The market values Investcorp Credit Management BDC Inc at about $8.8M (market capitalisation, as of Nov 8, 2026). Per share that is $0.6107; our models calculate a fair value of $1.22 per share.
What do the bullish and bearish scenarios say about ICMB?
Our models span a range for Investcorp Credit Management BDC Inc: cautious scenario $0.9170, base $1.22, optimistic $1.53 per share (as of Nov 8, 2026, price $0.6107). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Investcorp Credit Management BDC Inc (ICMB)?
Balance-sheet figures for Investcorp Credit Management BDC Inc (as of Nov 8, 2026): return on equity −31.7%, debt of 2.55 per unit of equity. They feed the Quality Score of 48/100, which measures business quality independently of the share price.
How far is ICMB from its 52-week high?
Investcorp Credit Management BDC Inc trades at $0.6107, about 80% below its 52-week high of $3.09 and at the low of $0.6104 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $1.22 is for.
Which stocks are comparable to Investcorp Credit Management BDC Inc?
From the same area (Financial Services) we also value Blackstone Inc, Brookfield Asset Management Ltd, KKR & Co, Apollo Global Management, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Investcorp Credit Management BDC Inc stock attractive at the current price?
The data as of Nov 8, 2026: price $0.6107, calculated fair value $1.22 (+100%), Quality Score 48/100, from 2 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ICMB calculated?
We run Investcorp Credit Management BDC Inc through 2 models from 2 families: Multiples, Asset-Based. Every model gets the same audited fundamentals; the fair value of $1.22 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Investcorp Credit Management BDC Inc currently trades 50% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Investcorp Credit Management BDC Inc (ICMB)?
The closing price on Nov 6, 2026 was $0.6107. Our model-based fair value is $1.22, about +100% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Investcorp Credit Management BDC Inc right now?
The large discount to fair value meets weak quality (48/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case ($0.9170). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.

Key figures of Investcorp Credit Management BDC Inc

How large is the market capitalisation of Investcorp Credit Management BDC Inc (ICMB)?
The market capitalisation of Investcorp Credit Management BDC Inc is $8.8M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Investcorp Credit Management BDC Inc (ICMB)?
The price-to-sales ratio of Investcorp Credit Management BDC Inc is 0.58 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Investcorp Credit Management BDC Inc (ICMB)?
Earnings per share at Investcorp Credit Management BDC Inc are $−1.42. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Investcorp Credit Management BDC Inc (ICMB)?
The net margin of Investcorp Credit Management BDC Inc is −131% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Investcorp Credit Management BDC Inc (ICMB)?
The return on equity (ROE) of Investcorp Credit Management BDC Inc is −31.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Investcorp Credit Management BDC Inc (ICMB)?
On an EBIT basis the return on assets of Investcorp Credit Management BDC Inc is 3.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Investcorp Credit Management BDC Inc (ICMB)?
The operating margin of Investcorp Credit Management BDC Inc is 65.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Investcorp Credit Management BDC Inc (ICMB)?
Revenue at Investcorp Credit Management BDC Inc is growing −31.1% versus a year earlier. How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Investcorp Credit Management BDC Inc (ICMB)?
Earnings per share at Investcorp Credit Management BDC Inc are growing −8.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Investcorp Credit Management BDC Inc (ICMB) generate?
The free cash flow of Investcorp Credit Management BDC Inc is $11.7M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Investcorp Credit Management BDC Inc (ICMB) carry?
The net debt of Investcorp Credit Management BDC Inc is $119M (fiscal year 2026, ≈ 10.2 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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