Is JHS or KBDC more undervalued in 2026?

CirclFi compares John Hancock Income Securities (JHS) and Kayne Anderson BDC, Inc. (KBDC) using 13 institutional-grade valuation models. JHS has a Quality of Company score of 1.8/10 while KBDC scores 4.1/10.

Which is a better buy — JHS or KBDC?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do JHS and KBDC valuations compare?

JHS at $11.14 and KBDC at $14.77 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

JHS vs KBDC Valuation Comparison 2026 — Intrinsic Value Analysis

JHS

Asset Management

John Hancock Income Securities

Quality

1.8

out of 10

Value Trap

—

Price

$11.14

Last close

Models

10/13

Active

KBDC

Asset Management

Kayne Anderson BDC, Inc.

Quality

4.1

out of 10

Value Trap

WARN

Price

$14.77

Last close

Models

9/13

Active

Model-by-Model Comparison

Model	Type	JHS Fair Value	JHS Upside	KBDC Fair Value	KBDC Upside
Bayesian DCF	Intrinsic	$2.95	-73.5%	$2.04	-86.0%
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$7.17	-35.6%	—	—
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$10.13	-8.0%	$14.04	-4.9%

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JHS vs KBDC — Which Stock Is More Undervalued?

KBDC scores higher with a 4.1/10 quality rating vs JHS's 1.8/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing John Hancock Income Securities (JHS) and Kayne Anderson BDC, Inc. (KBDC) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

JHS currently trades at $11.14 with a QOC of 1.8/10, while KBDC trades at $14.77 with a QOC of 4.1/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).