(GBDC) Golub Capital BDC - Ratings and Ratios
Senior Debt, Unitranche, Mezzanine, Equity
GBDC EPS (Earnings per Share)
GBDC Revenue
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 | 3,700m |
| Sub-Industry | Asset Management & Custody Banks |
| IPO / Inception | 2010-04-15 |
GBDC Stock Ratings
| Growth Rating | 47.0% |
| Fundamental | 44.5% |
| Dividend Rating | 84.4% |
| Return 12m vs S&P 500 | -13.3% |
| Analyst Rating | 4.0 of 5 |
GBDC Dividends
| Dividend Yield 12m | 11.69% |
| Yield on Cost 5y | 19.21% |
| Annual Growth 5y | 11.68% |
| Payout Consistency | 96.1% |
| Payout Ratio | 139.3% |
GBDC Growth Ratios
| Growth Correlation 3m | -65.9% |
| Growth Correlation 12m | 12.9% |
| Growth Correlation 5y | 84.9% |
| CAGR 5y | 13.00% |
| CAGR/Max DD 3y (Calmar Ratio) | 0.76 |
| CAGR/Mean DD 3y (Pain Ratio) | 3.03 |
| Sharpe Ratio 12m | 0.62 |
| Alpha | -8.87 |
| Beta | 0.490 |
| Volatility | 14.87% |
| Current Volume | 1289.6k |
| Average Volume 20d | 1812k |
| Stop Loss | 13.3 (-3.4%) |
| Signal | 0.04 |
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 |
| (C) 0.05 = EBIT TTM 421.8m / Avg Total Assets 8.86b |
| (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) 44.53
| 1. Piotroski 4.0pt = -1.0 |
| 2. FCF Yield -7.13% = -3.57 |
| 3. FCF Margin -79.74% = -7.50 |
| 4. Debt/Equity 1.15 = 1.87 |
| 5. Debt/Ebitda -0.41 = 2.50 |
| 6. ROIC - WACC (= 0.42)% = 0.53 |
| 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?
Over the past week, the price has changed by -0.86%, over one month by +0.58%, over three months by -4.31% and over the past year by -0.45%.
Is Golub Capital BDC a good stock to buy?
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of GBDC is around 15.09 USD . This means that GBDC is currently overvalued and has a potential downside of 9.59%.
Is GBDC a buy, sell or hold?
- 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 | 10.7% |
| Analysts Target Price | 15.3 | 10.7% |
| ValueRay Target Price | 16.2 | 17.6% |
GBDC Fundamental Data Overview October 31, 2025
P/E Trailing = 9.7817
P/E Forward = 9.2851
P/S = 4.2172
P/B = 0.9161
P/EG = 1.51
Beta = 0.49
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 = 8.13b USD (3.70b + 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 8.13b)
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 8.13b / 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 = 4.34% (E(3.70b)/V(8.30b) * Re(7.82%) + D(4.60b)/V(8.30b) * Rd(1.54%) * (1-Tc(-0.00)))
Discount Rate = 7.82% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 8.05%
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
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle