Overview Dividends

(GBDC) Golub Capital BDC - Ratings and Ratios

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US38173M1027

Senior Debt, Unitranche, Mezzanine, Equity

GBDC EPS (Earnings per Share)

EPS Growth (3Y CAGR): -44.30%
EPS Trend (3Y Correlation): -22.7%

GBDC Revenue

Revenue Growth (3Y CAGR): 24.53%
Revenue Trend (3Y Correlation): 27.3%

Risk via 10d forecast
Volatility	15.4%
Value at Risk 5%th	25.5%
Relative Tail Risk	0.67%

Reward TTM
Sharpe Ratio	-0.11
Alpha	-10.07

Character TTM
Hurst Exponent	0.518
Beta	0.643
Beta Downside	0.741

Drawdowns 3y
Max DD	17.01%
Mean DD	4.36%
Median DD	3.90%

Description: GBDC Golub Capital BDC November 07, 2025

Golub Capital BDC, Inc. (NASDAQ: GBDC) is an externally-managed, closed-end business development company that focuses on debt and minority-equity investments in U.S. middle-market firms, many of which are backed by private-equity sponsors.

The firm’s portfolio spans diversified consumer services, automotive, healthcare technology, insurance, health-care equipment and supplies, hospitality, IT services, and specialty retail, with a typical investment range of first-lien senior debt, unitranche, second-lien, mezzanine loans, and accompanying warrants.

As of the most recent filing, GBDC reported a net asset value (NAV) of roughly $2.6 billion, a distribution yield near 8 %, and a portfolio composition of about 70 % senior secured debt, 20 % mezzanine/second-lien exposure, and 10 % equity-linked positions; the average loan size is approximately $30 million, supporting companies with median EBITDA of roughly $100 million.

Key macro drivers include the prevailing interest-rate environment-higher rates can boost GBDC’s yield on new debt but also widen credit spreads, potentially increasing default risk-and the continued growth of private-equity capital, which fuels a steady pipeline of sponsor-backed deal flow.

Sector-specific tailwinds, such as the aging U.S. population and rising adoption of digital health solutions, are bolstering demand for healthcare-technology and equipment financing, which together represent a sizable slice of GBDC’s exposure.

For a deeper quantitative breakdown of GBDC’s risk-adjusted returns, the ValueRay platform offers a granular view of its portfolio metrics.

GBDC Stock Overview

Market Cap in USD	3,707m
Sub-Industry	Asset Management & Custody Banks
IPO / Inception	2010-04-15
Return 12m vs S&P 500	-14.1%
Analyst Rating	4.0 of 5

GBDC Dividends

Dividend Yield	11.62%
Yield on Cost 5y	18.94%
Yield CAGR 5y	11.68%
Payout Consistency	96.1%
Payout Ratio	139.3%

GBDC Growth Ratios

CAGR 3y	12.76%
CAGR/Max DD Calmar Ratio	0.75
CAGR/Mean DD Pain Ratio	2.93
Current Volume	714.2k
Average Volume	1385.2k

Piotroski VR‑10 (Strict, 0-10) 4.0

Net Income (375.6m TTM) > 0 and > 6% of Revenue (6% = 43.6m TTM)

FCFTA -0.06 (>2.0%) and ΔFCFTA -13.45pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 25.53% (prev 30.13%; Δ -4.60pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA -0.06 (>3.0%) and CFO -579.7m <= Net Income 375.6m (YES >=105%, WARN >=100%)

Net Debt (-170.9m) to EBITDA (421.8m) ratio: -0.41 <= 3.0 (WARN <= 3.5)

Current Ratio 4.32 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (266.8m) change vs 12m ago 33.44% (target <= -2.0% for YES)

Gross Margin 65.28% (prev 62.84%; Δ 2.44pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 8.21% (prev 5.68%; Δ 2.53pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 1.51 (EBITDA TTM 421.8m / Interest Expense TTM 279.4m) >= 6 (WARN >= 3)

Altman Z'' 0.34

(A) 0.02 = (Total Current Assets 241.7m - Total Current Liabilities 56.0m) / Total Assets 9.24b

(B) -0.02 = Retained Earnings (Balance) -207.9m / Total Assets 9.24b

(D) -0.04 = Book Value of Equity -207.6m / Total Liabilities 5.24b

Total Rating: 0.34 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 44.22

1. Piotroski 4.0pt = -1.0

2. FCF Yield -7.13% = -3.56

3. FCF Margin -79.74% = -7.50

4. Debt/Equity 1.15 = 1.87

5. Debt/Ebitda -0.41 = 2.50

6. ROIC - WACC (= 0.17)% = 0.21

7. RoE 9.35% = 0.78

8. Rev. Trend 27.32% = 2.05

9. EPS Trend -22.68% = -1.13

What is the price of GBDC shares?

As of November 17, 2025, the stock is trading at USD 13.85 with a total of 714,213 shares traded.
Over the past week, the price has changed by -0.47%, over one month by +1.24%, over three months by -3.49% and over the past year by -0.71%.

Is Golub Capital BDC a good stock to buy?

No, based on ValueRay´s Fundamental Analyses, Golub Capital BDC (NASDAQ:GBDC) is currently (November 2025) a stock to sell. It has a ValueRay Fundamental Rating of 44.22 and therefor a negative outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of GBDC is around 15.19 USD . This means that GBDC is currently overvalued and has a potential downside of 9.68%.

Is GBDC a buy, sell or hold?

Golub Capital BDC has received a consensus analysts rating of 4.00. Therefore, it is recommended to buy GBDC.

Strong Buy: 2
Buy: 1
Hold: 2
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the GBDC price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	15.3	10.1%
Analysts Target Price	15.3	10.1%
ValueRay Target Price	16.3	18%

GBDC Fundamental Data Overview November 11, 2025

Market Cap USD = 3.71b (3.71b USD * 1.0 USD.USD)
P/E Trailing = 9.7993
P/E Forward = 9.2851
P/S = 4.2248
P/B = 0.9161
P/EG = 1.51
Beta = 0.44
Revenue TTM = 727.1m USD
EBIT TTM = 421.8m USD
EBITDA TTM = 421.8m USD
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = 4.60b USD (from shortLongTermDebtTotal, last fiscal year)
Net Debt = -170.9m USD (from netDebt column, last quarter)
Enterprise Value = 8.14b USD (3.71b + Debt 4.60b - CCE 170.9m)
Interest Coverage Ratio = 1.51 (Ebit TTM 421.8m / Interest Expense TTM 279.4m)
FCF Yield = -7.13% (FCF TTM -579.7m / Enterprise Value 8.14b)
FCF Margin = -79.74% (FCF TTM -579.7m / Revenue TTM 727.1m)
Net Margin = 51.65% (Net Income TTM 375.6m / Revenue TTM 727.1m)
Gross Margin = 65.28% ((Revenue TTM 727.1m - Cost of Revenue TTM 252.4m) / Revenue TTM)
Gross Margin QoQ = 79.99% (prev 56.24%)
Tobins Q-Ratio = 0.88 (Enterprise Value 8.14b / Total Assets 9.24b)
Interest Expense / Debt = 1.54% (Interest Expense 70.7m / Debt 4.60b)
Taxrate = -0.23% (negative due to tax credits) (-211.0k / 89.8m)
NOPAT = 422.8m (EBIT 421.8m * (1 - -0.23%)) [negative tax rate / tax credits]
Current Ratio = 4.32 (Total Current Assets 241.7m / Total Current Liabilities 56.0m)
Debt / Equity = 1.15 (Debt 4.60b / totalStockholderEquity, last quarter 4.00b)
Debt / EBITDA = -0.41 (Net Debt -170.9m / EBITDA 421.8m)
Debt / FCF = 0.29 (negative FCF - burning cash) (Net Debt -170.9m / FCF TTM -579.7m)
Total Stockholder Equity = 4.02b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.07% (Net Income 375.6m / Total Assets 9.24b)
RoE = 9.35% (Net Income TTM 375.6m / Total Stockholder Equity 4.02b)
RoCE = 4.59% (EBIT 421.8m / Capital Employed (Total Assets 9.24b - Current Liab 56.0m))
RoIC = 4.76% (NOPAT 422.8m / Invested Capital 8.87b)
WACC = 4.59% (E(3.71b)/V(8.31b) * Re(8.38%) + D(4.60b)/V(8.31b) * Rd(1.54%) * (1-Tc(-0.00)))
Discount Rate = 8.38% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 25.42%
Fair Price DCF = unknown (Cash Flow -579.7m)
EPS Correlation: -22.68 | EPS CAGR: -44.30% | SUE: -2.25 | # QB: 0
Revenue Correlation: 27.32 | Revenue CAGR: 24.53% | SUE: 0.03 | # QB: 0

Additional Sources for GBDC Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle