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Golub Capital BDC, Inc. logo

Golub Capital BDC, Inc.

GBDC

NASDAQFinancial ServicesAsset Management

Open in GoAI

Regular session

$13.2087

+$0.0087 · +0.07%

Aug 24, 1:42 PM ET

GBDC company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Buy

Favorable setup — positive multi-factor alignment

Valuation

85

Deep Value

Momentum

40

Weakening

Sentiment

57

Mixed

Risk resilience

76

Moderate Risk

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AI-generated, informational only, and not investment advice.

Company profile

Company website

Golub Capital BDC, Inc. (GBDC) operates as an externally managed, closed-end investment company, specializing as a business development company (BDC) with a non-diversified portfolio management strategy. The firm provides financing through debt instruments and minority equity stakes to middle-market businesses, predominantly those backed by private equity sponsors. GBDC's investment focus covers a diverse range of sectors, including consumer services, automotive, healthcare technology, insurance, medical equipment and supplies, hospitality, foodservice, healthcare providers, IT services, and specialty retail. Its geographical investment mandate is primarily the United States. The company's comprehensive financing offerings include various forms of senior secured debt like first-lien traditional senior debt, "one-stop" facilities, and unitranche loans, alongside junior debt, second-lien, subordinated, and mezzanine loans, as well as direct equity investments and warrants.

Industry
Asset Management
Sector
Financial Services
Headquarters
US
CEO
David Golub
Listed since
Apr 15, 2010
Employees
875

Market position

Day range

Current $13.2087

52-week range

Current $13.2087

Open
$13.20
Previous close
$13.20
Volume
610.88K
0.47× average
Average volume
1.29M
Average daily volume
Market cap
3.44B USD
Beta
0.42
Market reference 1
50-day average
$12.913
+2.29% above average
200-day average
$13.1228
+0.65% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
8.52B USD
P/E (TTM)
24.02×
P/B (TTM)
0.93×
P/S (TTM)
4.81×
EV / EBITDA
12.39×
Earnings yield
10.33%
Free cash flow yield
-3.12%
Dividend yield
10.90%

Profitability & efficiency

Gross margin
74.39%
Operating margin
55.46%
Net margin
20.51%
Return on equity
9.44%
Return on assets
4.19%
Return on invested capital
7.69%

Financial health

Debt / equity
1.22×
Current ratio
5.35×
Altman Z-score
0.65
Piotroski F-score
6 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends88%72%55%39%Gross margin, FY2021: 84.17%Gross margin, FY2022: 73.81%Gross margin, FY2023: 74.70%Gross margin, FY2024: 81.61%Gross margin, FY2025: 81.49%Operating margin, FY2021: 82.09%Operating margin, FY2022: 70.51%Operating margin, FY2023: 74.41%Operating margin, FY2024: 78.95%Operating margin, FY2025: 78.94%Net margin, FY2021: 81.95%Net margin, FY2022: 44.93%Net margin, FY2023: 47.51%Net margin, FY2024: 44.81%Net margin, FY2025: 43.19%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 84.17%. Gross margin FY2022 73.81%. Gross margin FY2023 74.70%. Gross margin FY2024 81.61%. Gross margin FY2025 81.49%. Operating margin FY2021 82.09%. Operating margin FY2022 70.51%. Operating margin FY2023 74.41%. Operating margin FY2024 78.95%. Operating margin FY2025 78.94%. Net margin FY2021 81.95%. Net margin FY2022 44.93%. Net margin FY2023 47.51%. Net margin FY2024 44.81%. Net margin FY2025 43.19%.

Income trends

Revenue

870.78M USD+42.50%

Operating income

687.42M USD+42.50%

Net income

376.13M USD+37.38%
Income trends across reported periods942.3M USD656.21M USD370.13M USD84.05M USDRevenue, FY2021: 415.2M USDRevenue, FY2022: 346.28M USDRevenue, FY2023: 572.53M USDRevenue, FY2024: 611.05M USDRevenue, FY2025: 870.78M USDOperating income, FY2021: 340.82M USDOperating income, FY2022: 244.17M USDOperating income, FY2023: 426.01M USDOperating income, FY2024: 482.4M USDOperating income, FY2025: 687.42M USDNet income, FY2021: 340.28M USDNet income, FY2022: 155.57M USDNet income, FY2023: 272.03M USDNet income, FY2024: 273.79M USDNet income, FY2025: 376.13M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 415.2M USD. Revenue FY2022 346.28M USD. Revenue FY2023 572.53M USD. Revenue FY2024 611.05M USD. Revenue FY2025 870.78M USD. Operating income FY2021 340.82M USD. Operating income FY2022 244.17M USD. Operating income FY2023 426.01M USD. Operating income FY2024 482.4M USD. Operating income FY2025 687.42M USD. Net income FY2021 340.28M USD. Net income FY2022 155.57M USD. Net income FY2023 272.03M USD. Net income FY2024 273.79M USD. Net income FY2025 376.13M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue870.78M USD611.05M USD572.53M USD346.28M USD415.2M USD
Cost of goods sold161.17M USD112.35M USD144.87M USD90.7M USD65.74M USD
Gross profit709.6M USD498.7M USD427.66M USD255.58M USD349.47M USD
Selling, general, and administrative22.19M USD16.3M USD1.65M USD11.42M USD12.64M USD
Operating expenses22.19M USD16.3M USD1.65M USD11.42M USD8.64M USD
Interest income833.23M USD700.44M USD584.63M USD382.88M USD300.44M USD
Interest expense280.62M USD203.16M USD143.23M USD89.38M USD65.74M USD
Operating income687.42M USD482.4M USD426.01M USD244.17M USD340.82M USD
Net income376.13M USD273.79M USD272.03M USD155.57M USD340.28M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
36%
4 beats, 6 misses, 1 met estimate
Average EPS surprise
-0.82%
11 comparable reports
Latest EPS result
0.34
Estimate 0.33 · Beat by 1.98%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.470.410.350.29Q1 '25MissQ2 '25MissQ3 '25BeatQ4 '25MissQ1 '26MetQ2 '26MissQ3 '26BeatQ4 '26Estimate
Q1 2025, reported Feb 4, 2025: actual 0.39, estimate 0.43, surprise -9.30%, Miss. Q2 2025, reported May 5, 2025: actual 0.39, estimate 0.41, surprise -4.88%, Miss. Q3 2025, reported Aug 4, 2025: actual 0.39, estimate 0.38, surprise +2.63%, Beat. Q4 2025, reported Nov 18, 2025: actual 0.39, estimate 0.391, surprise -0.31%, Miss. Q1 2026, reported Feb 4, 2026: actual 0.38, estimate 0.38, surprise 0.00%, Met estimate. Q2 2026, reported May 4, 2026: actual 0.34, estimate 0.36, surprise -5.56%, Miss. Q3 2026, reported Aug 3, 2026: actual 0.34, estimate 0.333, surprise +1.98%, Beat. Q4 2026, reported Nov 17, 2026: actual —, estimate 0.33, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates232.78M191.79M150.81M109.83MQ1 '25MissQ2 '25MissQ3 '25MissQ4 '25MissQ1 '26MissQ2 '26MissQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 4, 2025: actual 118.78M USD, estimate 223.82M USD, surprise -46.93%, Miss. Q2 2025, reported May 5, 2025: actual 154.11M USD, estimate 222.96M USD, surprise -30.88%, Miss. Q3 2025, reported Aug 4, 2025: actual 218.72M USD, estimate 220.98M USD, surprise -1.02%, Miss. Q4 2025, reported Nov 18, 2025: actual 184.44M USD, estimate 221.71M USD, surprise -16.81%, Miss. Q1 2026, reported Feb 4, 2026: actual 207.01M USD, estimate 209.8M USD, surprise -1.33%, Miss. Q2 2026, reported May 4, 2026: actual 188.13M USD, estimate 201.71M USD, surprise -6.73%, Miss. Q3 2026, reported Aug 3, 2026: actual 187.73M USD, estimate 189.91M USD, surprise -1.15%, Miss. Q4 2026, reported Nov 17, 2026: actual —, estimate 187.49M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$14.50

9.78% upside
Past 12 months12-month forecastHigh $15.00Average $14.50Low $14.00

Rating distribution

12 ratings
Strong buy00%
Buy758%
Hold542%
Sell00%
Strong sell00%

Recent analyst actions

6 institutions
RBC CapitalmaintainOutperform
OppenheimermaintainOutperform

GBDC news

wsj.com

Private Credit Is Under Growing Strain, Despite Industry's Upbeat Tone

Default rates are hitting recent highs, and internal reviews of loan health point to tougher times ahead, a WSJ analysis shows.

Read source
seekingalpha.com

Golub Capital: I Want To Hold It, But

Golub Capital BDC is downgraded from HOLD to SELL due to portfolio deterioration and valuation concerns. Non-accruals and internal rating migrations signal rising credit risk, with portfolio quality eroding faster than…

Read source
seekingalpha.com

Golub Capital BDC (GBDC) Q3 2026 Earnings Call Transcript

Golub Capital BDC (GBDC) Q3 2026 Earnings Call Transcript

Read source
marketbeat.com

Golub Capital BDC Q3 Earnings Call Highlights

Golub Capital BDC NASDAQ: GBDC reported improved fiscal third-quarter results for the period ended June 30, 2026, as lower realized and unrealized losses offset continued credit stress across the direct-lending market.

Read source
zacks.com

Golub Capital BDC (GBDC) Q3 Earnings Beat Estimates

Golub Capital BDC (GBDC) came out with quarterly earnings of $0.34 per share, beating the Zacks Consensus Estimate of $0.33 per share. This compares to earnings of $0.39 per share a year ago.

Read source
businesswire.com

Golub Capital BDC, Inc. Announces Fiscal Year 2026 Third Quarter Financial Results

NEW YORK--(BUSINESS WIRE)--Golub Capital BDC, Inc., a business development company (Nasdaq: GBDC), today announced its financial results for its third fiscal quarter ended June 30, 2026. Except where the context suggests…

Read source

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

$1.56

2025 complete year+33.3% since 2021

2026 partial: $0.66

* Partial calendar year in the available dividend history.

Corporate action history

DividendUpcoming

Ex-dividend Sep 14, 2026

$0.33

Quarterly

Record Sep 14, 2026 · Payment Sep 29, 2026

Dividend

Ex-dividend Jun 15, 2026

$0.33

Quarterly

Record Jun 15, 2026 · Payment Jun 29, 2026

Dividend

Ex-dividend Mar 13, 2026

$0.33

Quarterly

Record Mar 13, 2026 · Payment Mar 30, 2026

Dividend

Ex-dividend Dec 12, 2025

$0.39

Quarterly

Record Dec 12, 2025 · Payment Dec 30, 2025

Dividend

Ex-dividend Sep 15, 2025

$0.39

Quarterly

Record Sep 15, 2025 · Payment Sep 29, 2025

Dividend

Ex-dividend Jun 13, 2025

$0.39

Quarterly

Record Jun 13, 2025 · Payment Jun 27, 2025

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ETFs holding GBDC

Funds reporting this stock among their holdings, ordered by reported position size.

VanEck BDC Income ETF logoVanEck BDC Income ETFBIZD
Market value
47.34M
Weight
2.80%
AUM
1.69B USD
Expense ratio
9.69%
Price / 1D
$13.375+0.64%
Putnam BDC Income ETF logoPutnam BDC Income ETFPBDC
Market value
17.73M
Weight
5.69%
AUM
311.84M USD
Expense ratio
13.49%
Price / 1D
$28.225+0.55%
FT Confluence BDC & Specialty Finance Income ETF logoFT Confluence BDC & Specialty Finance Income ETFFBDC
Market value
3.22M
Weight
9.28%
AUM
34.71M USD
Expense ratio
0.95%
Price / 1D
$17.74+0.40%
GraniteShares HIPS US High Income ETF logoGraniteShares HIPS US High Income ETFHIPS
Market value
2.89M
Weight
2.41%
AUM
119.77M USD
Expense ratio
1.17%
Price / 1D
$11.85+0.42%
First Trust Small Cap Core AlphaDEX Fund logoFirst Trust Small Cap Core AlphaDEX FundFYX
Market value
2.71M
Weight
0.19%
AUM
1.4B USD
Expense ratio
0.58%
Price / 1D
$143.15-0.44%
WisdomTree Private Credit & Alternative Income Fund logoWisdomTree Private Credit & Alternative Income FundHYIN
Market value
1.74M
Weight
3.42%
AUM
51.28M USD
Expense ratio
0.50%
Price / 1D
$14.34+0.07%
Invesco Global Listed Private Equity ETF logoInvesco Global Listed Private Equity ETFPSP
Market value
1.13M
Weight
0.46%
AUM
248.12M USD
Expense ratio
1.80%
Price / 1D
$63.745+0.28%
Sound Enhanced Fixed Income ETF logoSound Enhanced Fixed Income ETFFXED
Market value
1.05M
Weight
2.66%
AUM
45.22M USD
Expense ratio
2.51%
Price / 1D
$17.34+0.35%

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