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

EPS (Earnings per Share)

EPS CAGR: 40.22%
EPS Trend: 9.9%

Last SUE: 0.00σ
Qual. Beats: 0

Revenue

Revenue CAGR: 18.88%
Revenue Trend: 28.3%

Last SUE: -0.14σ
Qual. Beats: 0

Risk via 10d forecast
Volatility	15.4%
Value at Risk 5%th	25.5%
Relative Tail Risk	0.83%

Reward TTM
Sharpe Ratio	-0.11
Alpha	-11.59

Character TTM
Hurst Exponent	0.530
Beta	0.646
Beta Downside	0.737

Drawdowns 3y
Max DD	17.01%
Mean DD	4.35%
Median DD	3.80%

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	3,604m
Sub-Industry	Asset Management & Custody Banks
IPO / Inception	2010-04-15
Return 12m vs S&P 500	-11.1%
Analyst Rating	4.0 of 5

GBDC Dividends

Metric	Value
Dividend Yield	11.73%
Yield on Cost 5y	19.03%
Yield CAGR 5y	11.28%
Payout Consistency	95.8%
Payout Ratio	104.0%

GBDC Growth Ratios

Metric	Value
CAGR 3y	11.03%
CAGR/Max DD Calmar Ratio	0.65
CAGR/Mean DD Pain Ratio	2.54
Current Volume	2372.5k
Average Volume	1385.2k

Piotroski VR‑10 (Strict, 0-10) 4.5

Net Income (280.4m TTM) > 0 and > 6% of Revenue (6% = 44.0m TTM)

FCFTA -0.06 (>2.0%) and ΔFCFTA -13.44pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 7.51% (prev 31.36%; Δ -23.85pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA -0.06 (>3.0%) and CFO -579.7m <= Net Income 280.4m (YES >=105%, WARN >=100%)

Net Debt (-100.8m) to EBITDA (279.5m) ratio: -0.36 <= 3.0 (WARN <= 3.5)

Current Ratio 1.49 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (266.3m) change vs 12m ago 0.72% (target <= -2.0% for YES)

Gross Margin 71.02% (prev 56.76%; Δ 14.26pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 8.30% (prev 5.46%; Δ 2.84pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 0.99 (EBITDA TTM 279.5m / Interest Expense TTM 283.1m) >= 6 (WARN >= 3)

Altman Z'' 0.18

(A) 0.01 = (Total Current Assets 168.8m - Total Current Liabilities 113.6m) / Total Assets 8.98b

(B) -0.02 = Retained Earnings (Balance) -207.9m / Total Assets 8.98b

(D) 0.00 = Book Value of Equity 266.0k / Total Liabilities 5.00b

Total Rating: 0.18 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 44.01

1. Piotroski 4.50pt

2. FCF Yield -6.72%

3. FCF Margin -78.98%

4. Debt/Equity 1.29

5. Debt/Ebitda -0.36

6. ROIC - WACC (= -1.64)%

7. RoE 6.99%

8. Rev. Trend 28.27%

9. EPS Trend 9.89%

What is the price of GBDC shares?

As of November 24, 2025, the stock is trading at USD 13.72 with a total of 2,372,494 shares traded.
Over the past week, the price has changed by +0.81%, over one month by -3.11%, over three months by -3.81% and over the past year by -0.74%.

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	11.2%
Analysts Target Price	15.3	11.2%
ValueRay Target Price	16	16.6%

GBDC Fundamental Data Overview November 22, 2025

Market Cap USD = 3.60b (3.60b USD * 1.0 USD.USD)
P/E Trailing = 9.5282
P/E Forward = 9.1324
P/S = 4.1389
P/B = 0.9002
P/EG = 1.51
Beta = 0.44
Revenue TTM = 734.0m USD
EBIT TTM = 279.5m USD
EBITDA TTM = 279.5m USD
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = 5.13b USD (from shortLongTermDebtTotal, two quarters ago)
Net Debt = -100.8m USD (from netDebt column, last quarter)
Enterprise Value = 8.63b USD (3.60b + Debt 5.13b - CCE 100.8m)
Interest Coverage Ratio = 0.99 (Ebit TTM 279.5m / Interest Expense TTM 283.1m)
FCF Yield = -6.72% (FCF TTM -579.7m / Enterprise Value 8.63b)
FCF Margin = -78.98% (FCF TTM -579.7m / Revenue TTM 734.0m)
Net Margin = 38.19% (Net Income TTM 280.4m / Revenue TTM 734.0m)
Gross Margin = 71.02% ((Revenue TTM 734.0m - Cost of Revenue TTM 212.7m) / Revenue TTM)
Gross Margin QoQ = 100.0% (prev 58.94%)
Tobins Q-Ratio = 0.96 (Enterprise Value 8.63b / Total Assets 8.98b)
Interest Expense / Debt = 1.37% (Interest Expense 70.4m / Debt 5.13b)
Taxrate = 21.0% (US default 21%)
NOPAT = 220.8m (EBIT 279.5m * (1 - 21.00%))
Current Ratio = 1.49 (Total Current Assets 168.8m / Total Current Liabilities 113.6m)
Debt / Equity = 1.29 (Debt 5.13b / totalStockholderEquity, last quarter 3.98b)
Debt / EBITDA = -0.36 (Net Debt -100.8m / EBITDA 279.5m)
Debt / FCF = 0.17 (negative FCF - burning cash) (Net Debt -100.8m / FCF TTM -579.7m)
Total Stockholder Equity = 4.01b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.12% (Net Income 280.4m / Total Assets 8.98b)
RoE = 6.99% (Net Income TTM 280.4m / Total Stockholder Equity 4.01b)
RoCE = 3.15% (EBIT 279.5m / Capital Employed (Total Assets 8.98b - Current Liab 113.6m))
RoIC = 2.46% (NOPAT 220.8m / Invested Capital 8.96b)
WACC = 4.10% (E(3.60b)/V(8.73b) * Re(8.40%) + D(5.13b)/V(8.73b) * Rd(1.37%) * (1-Tc(0.21)))
Discount Rate = 8.40% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 25.30%
Fair Price DCF = unknown (Cash Flow -579.7m)
EPS Correlation: 9.89 | EPS CAGR: 40.22% | SUE: 0.0 | # QB: 0
Revenue Correlation: 28.27 | Revenue CAGR: 18.88% | SUE: -0.14 | # QB: 0

Additional Sources for GBDC Stock

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