(GBDC) Golub Capital BDC - Ratings and Ratios

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

Senior Debt, Mezzanine Loans, Subordinated Debt, Minority Equity

GBDC EPS (Earnings per Share)

EPS (Earnings per Share) of GBDC over the last years for every Quarter: "2020-03": -1.6573555449069, "2020-06": 0.92791904152308, "2020-09": 0.56585724577677, "2020-12": 0.56462562664602, "2021-03": 0.5458775677587, "2021-06": 0.49267199954354, "2021-09": 0.42343570909654, "2021-12": 0.37094493986361, "2022-03": 0.39137526504579, "2022-06": 0.090148552596701, "2022-09": 0.047297854773409, "2022-12": 0.14968779202753, "2023-03": 0.34245244252655, "2023-06": 0.42936202531943, "2023-09": 0.59629601796098, "2023-12": 0.44666024561126, "2024-03": 0.54828639258403, "2024-06": 0.046266963177958, "2024-09": 0.36000267735896, "2024-12": 0.42109523953636, "2025-03": 0.29639302922502, "2025-06": 0.33749294063463,

GBDC Revenue

Revenue of GBDC over the last years for every Quarter: 2020-03: 75.124, 2020-06: 73.21, 2020-09: 72.012, 2020-12: 74.046, 2021-03: 76.201, 2021-06: 75.769, 2021-09: 81.109, 2021-12: 86.567, 2022-03: 85.961, 2022-06: 94.487, 2022-09: 119.648, 2022-12: 135.381, 2023-03: 145.647, 2023-06: 153.75, 2023-09: 164.118, 2023-12: 121.793, 2024-03: 136.617, 2024-06: 58.849, 2024-09: 158.47, 2024-12: 195.781, 2025-03: 154.107, 2025-06: 218.72,

Description: GBDC Golub Capital BDC

Golub Capital BDC, Inc. (GBDC) is a business development company that invests in debt and minority equity investments in middle-market companies, primarily sponsored by private equity investors. Its investment portfolio is diversified across various industries, including consumer services, healthcare, technology, and leisure.

As a business development company, GBDCs primary objective is to generate income and capital appreciation through its investments. To achieve this, it focuses on investing in senior secured, unitranche, and junior debt, as well as equity investments in middle-market companies. The companys investment strategy is centered around providing financing to companies with strong growth potential, often in conjunction with private equity sponsors.

Some key performance indicators (KPIs) to evaluate GBDCs performance include its net investment income (NII), net asset value (NAV) per share, and dividend yield. GBDCs NII has historically been a key driver of its dividend payments, and its NAV per share provides insight into the companys underlying asset value. Additionally, GBDCs dividend yield is an important metric, as it is a key consideration for income-focused investors. As of the latest available data, GBDCs dividend yield is around 9-10%, which is relatively attractive compared to other income-generating investment options.

To further assess GBDCs investment potential, its essential to examine its portfolio composition, credit quality, and interest rate risk. The companys portfolio is diversified across various industries and investment types, which helps mitigate credit risk. However, as an externally managed investment company, GBDC is subject to interest rate risk, which can impact its NII and dividend payments. Investors should closely monitor GBDCs interest rate hedging strategies and overall portfolio risk profile to ensure alignment with their investment objectives.

GBDC Stock Overview

Market Cap in USD 3,926m
Sub-Industry Asset Management & Custody Banks
IPO / Inception 2010-04-15

GBDC Stock Ratings

Growth Rating 67.8%
Fundamental 69.4%
Dividend Rating 87.6%
Return 12m vs S&P 500 -6.0%
Analyst Rating 4.0 of 5

GBDC Dividends

Dividend Yield 12m 10.95%
Yield on Cost 5y 19.78%
Annual Growth 5y 9.24%
Payout Consistency 95.4%
Payout Ratio 103.6%

GBDC Growth Ratios

Growth Correlation 3m 26.5%
Growth Correlation 12m 60.2%
Growth Correlation 5y 85.9%
CAGR 5y 12.94%
CAGR/Max DD 5y 0.67
Sharpe Ratio 12m 0.65
Alpha -0.66
Beta 0.559
Volatility 13.36%
Current Volume 1087.3k
Average Volume 20d 1050.1k
Stop Loss 14.4 (-3.5%)
Signal 2.37

Piotroski VR‑10 (Strict, 0-10) 4.0

Net Income (375.6m TTM) > 0 and > 6% of Revenue (6% = 43.6m TTM)
FCFTA 0.04 (>2.0%) and ΔFCFTA -3.45pp (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 (653.9m) ratio: -0.26 <= 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 2.34 (EBITDA TTM 653.9m / Interest Expense TTM 279.4m) >= 6 (WARN >= 3)

Altman Z'' 0.51

(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
(C) 0.07 = EBIT TTM 653.9m / Avg Total Assets 8.86b
(D) -0.04 = Book Value of Equity -207.6m / Total Liabilities 5.24b
Total Rating: 0.51 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 69.35

1. Piotroski 4.0pt = -1.0
2. FCF Yield 4.07% = 2.04
3. FCF Margin 47.30% = 7.50
4. Debt/Equity 1.17 = 1.85
5. Debt/Ebitda 7.17 = -2.50
6. ROIC - WACC 2.86% = 3.57
7. RoE 9.35% = 0.78
8. Rev. Trend 27.32% = 1.37
9. Rev. CAGR 24.53% = 2.50
10. EPS Trend 29.96% = 0.75
11. EPS CAGR 104.3% = 2.50

What is the price of GBDC shares?

As of August 31, 2025, the stock is trading at USD 14.92 with a total of 1,087,341 shares traded.
Over the past week, the price has changed by +0.95%, over one month by -0.86%, over three months by +0.21% and over the past year by +9.95%.

Is Golub Capital BDC a good stock to buy?

Partly, yes. Based on ValueRay´s Fundamental Analyses, Golub Capital BDC (NASDAQ:GBDC) is currently (August 2025) ok to buy, but has to be watched. It has a ValueRay Fundamental Rating of 69.35 and therefor a somewhat positive outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of GBDC is around 16.91 USD . This means that GBDC is currently undervalued and has a potential upside of +13.34% (Margin of Safety).

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 2.2%
Analysts Target Price 15.3 2.2%
ValueRay Target Price 18.2 21.8%

Last update: 2025-08-18 02:03

GBDC Fundamental Data Overview

Market Cap USD = 3.93b (3.93b USD * 1.0 USD.USD)
CCE Cash And Equivalents = 170.9m USD (Cash And Short Term Investments, last quarter)
P/E Trailing = 10.3803
P/E Forward = 9.9602
P/S = 4.4753
P/B = 0.9827
P/EG = 1.51
Beta = 0.534
Revenue TTM = 727.1m USD
EBIT TTM = 653.9m USD
EBITDA TTM = 653.9m USD
Long Term Debt = 4.64b USD (from nonCurrentLiabilitiesTotal, last fiscal year)
Short Term Debt = 56.0m USD (from totalCurrentLiabilities, last fiscal year)
Debt = 4.69b USD (Calculated: Short Term 56.0m + Long Term 4.64b)
Net Debt = -170.9m USD (from netDebt column, last quarter)
Enterprise Value = 8.45b USD (3.93b + Debt 4.69b - CCE 170.9m)
Interest Coverage Ratio = 2.34 (Ebit TTM 653.9m / Interest Expense TTM 279.4m)
FCF Yield = 4.07% (FCF TTM 343.9m / Enterprise Value 8.45b)
FCF Margin = 47.30% (FCF TTM 343.9m / 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)
Tobins Q-Ratio = -40.69 (set to none) (Enterprise Value 8.45b / Book Value Of Equity -207.6m)
Interest Expense / Debt = 1.51% (Interest Expense 70.7m / Debt 4.69b)
Taxrate = 0.21% (from yearly Income Tax Expense: 575.0k / 274.4m)
NOPAT = 652.6m (EBIT 653.9m * (1 - 0.21%))
Current Ratio = 4.32 (Total Current Assets 241.7m / Total Current Liabilities 56.0m)
Debt / Equity = 1.17 (Debt 4.69b / last Quarter total Stockholder Equity 4.00b)
Debt / EBITDA = 7.17 (Net Debt -170.9m / EBITDA 653.9m)
Debt / FCF = 13.64 (Debt 4.69b / FCF TTM 343.9m)
Total Stockholder Equity = 4.02b (last 4 quarters mean)
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 = 7.56% (Ebit 653.9m / (Equity 4.02b + L.T.Debt 4.64b))
RoIC = 7.35% (NOPAT 652.6m / Invested Capital 8.87b)
WACC = 4.50% (E(3.93b)/V(8.62b) * Re(8.07%)) + (D(4.69b)/V(8.62b) * Rd(1.51%) * (1-Tc(0.00)))
Shares Correlation 5-Years: 70.0 | Cagr: 11.92%
Discount Rate = 8.07% (= CAPM, Blume Beta Adj.)
[DCF Debug] Terminal Value 70.37% ; FCFE base≈449.6m ; Y1≈295.2m ; Y5≈135.0m
Fair Price DCF = 9.92 (DCF Value 2.64b / Shares Outstanding 266.4m; 5y FCF grow -40.0% → 3.0% )
Revenue Correlation: 27.32 | Revenue CAGR: 24.53%
Rev Growth-of-Growth: 44.99
EPS Correlation: 29.96 | EPS CAGR: 104.3%
EPS Growth-of-Growth: -46.32

Additional Sources for GBDC Stock

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