GOLUB CAPITAL BDC INC (GBDC) Stock Fundamental Analysis
NASDAQ:GBDC - Nasdaq - US38173M1027 - Common Stock - Currency: USD
GBDC gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 223 industry peers in the Capital Markets industry. GBDC has an average financial health and profitability rating. GBDC has a decent growth rate and is not valued too expensively.
1. Profitability
1.1 Basic Checks
GBDC had positive earnings in the past year.
GBDC had a positive operating cash flow in the past year.
GBDC had positive earnings in each of the past 5 years.
The reported operating cash flow has been mixed in the past 5 years: GBDC reported negative operating cash flow in multiple years.
1.2 Ratios
With a Return On Assets value of 3.14%, GBDC perfoms like the industry average, outperforming 52.75% of the companies in the same industry.
Looking at the Return On Equity, with a value of 6.82%, GBDC is doing worse than 60.55% of the companies in the same industry.
GBDC has a Return On Invested Capital of 3.52%. This is comparable to the rest of the industry: GBDC outperforms 42.66% of its industry peers.
GBDC had an Average Return On Invested Capital over the past 3 years of 3.44%. This is below the industry average of 6.71%.
The last Return On Invested Capital (3.52%) for GBDC is above the 3 year average (3.44%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.14% | ||
| ROE | 6.82% | ||
| ROIC | 3.52% |
ROA(3y)3.45%
ROA(5y)3.64%
ROE(3y)7.67%
ROE(5y)7.69%
ROIC(3y)3.44%
ROIC(5y)3.07%
1.3 Margins
With an excellent Profit Margin value of 37.78%, GBDC belongs to the best of the industry, outperforming 81.19% of the companies in the same industry.
In the last couple of years the Profit Margin of GBDC has declined.
GBDC has a Operating Margin of 52.94%. This is amongst the best in the industry. GBDC outperforms 87.61% of its industry peers.
In the last couple of years the Operating Margin of GBDC has remained more or less at the same level.
GBDC has a Gross Margin (51.42%) which is in line with its industry peers.
In the last couple of years the Gross Margin of GBDC has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 52.94% | ||
| PM (TTM) | 37.78% | ||
| GM | 51.42% |
OM growth 3Y-0.23%
OM growth 5Y1.16%
PM growth 3Y-30.14%
PM growth 5YN/A
GM growth 3Y-3.61%
GM growth 5Y-0.75%
2. Health
2.1 Basic Checks
The number of shares outstanding for GBDC has been increased compared to 1 year ago.
Compared to 5 years ago, GBDC has more shares outstanding
Compared to 1 year ago, GBDC has an improved debt to assets ratio.
2.2 Solvency
GBDC has an Altman-Z score of 0.74. This is a bad value and indicates that GBDC is not financially healthy and even has some risk of bankruptcy.
GBDC has a Altman-Z score of 0.74. This is comparable to the rest of the industry: GBDC outperforms 41.74% of its industry peers.
The Debt to FCF ratio of GBDC is 13.37, which is on the high side as it means it would take GBDC, 13.37 years of fcf income to pay off all of its debts.
GBDC's Debt to FCF ratio of 13.37 is in line compared to the rest of the industry. GBDC outperforms 49.08% of its industry peers.
A Debt/Equity ratio of 1.15 is on the high side and indicates that GBDC has dependencies on debt financing.
GBDC has a Debt to Equity ratio (1.15) which is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.15 | ||
| Debt/FCF | 13.37 | ||
| Altman-Z | 0.74 |
ROIC/WACCN/A
WACCN/A
2.3 Liquidity
A Current Ratio of 2.20 indicates that GBDC has no problem at all paying its short term obligations.
With a decent Current ratio value of 2.20, GBDC is doing good in the industry, outperforming 68.81% of the companies in the same industry.
GBDC has a Quick Ratio of 2.20. This indicates that GBDC is financially healthy and has no problem in meeting its short term obligations.
The Quick ratio of GBDC (2.20) is better than 68.81% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.2 | ||
| Quick Ratio | 2.2 |
3. Growth
3.1 Past
GBDC shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -25.82%.
GBDC shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 1.92% yearly.
The Revenue has grown by 20.16% in the past year. This is a very strong growth!
Measured over the past years, GBDC shows a very strong growth in Revenue. The Revenue has been growing by 33.28% on average per year.
EPS 1Y (TTM)-25.82%
EPS 3Y-11.29%
EPS 5Y1.92%
EPS Q2Q%-13.33%
Revenue 1Y (TTM)20.16%
Revenue growth 3Y33.13%
Revenue growth 5Y33.28%
Sales Q2Q%33.94%
3.2 Future
GBDC is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 7.56% yearly.
GBDC is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 6.50% yearly.
EPS Next Y21.84%
EPS Next 2Y7.56%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year19.84%
Revenue Next 2Y6.5%
Revenue Next 3YN/A
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 11.52, the valuation of GBDC can be described as very reasonable.
GBDC's Price/Earnings ratio is a bit cheaper when compared to the industry. GBDC is cheaper than 65.14% of the companies in the same industry.
GBDC's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 28.21.
Based on the Price/Forward Earnings ratio of 9.53, the valuation of GBDC can be described as reasonable.
Based on the Price/Forward Earnings ratio, GBDC is valued a bit cheaper than the industry average as 73.85% of the companies are valued more expensively.
GBDC's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 95.54.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.52 | ||
| Fwd PE | 9.53 |
4.2 Price Multiples
Based on the Price/Free Cash Flow ratio, GBDC is valued a bit cheaper than the industry average as 66.06% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 11.95 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
GBDC's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
PEG (NY)0.53
PEG (5Y)6.01
EPS Next 2Y7.56%
EPS Next 3YN/A
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 10.19%, GBDC is a good candidate for dividend investing.
GBDC's Dividend Yield is a higher than the industry average which is at 9.42.
GBDC's Dividend Yield is rather good when compared to the S&P500 average which is at 2.29.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 10.19% |
5.2 History
The dividend of GBDC is nicely growing with an annual growth rate of 15.32%!
GBDC has been paying a dividend for at least 10 years, so it has a reliable track record.
GBDC has decreased its dividend in the last 3 years.
Dividend Growth(5Y)15.32%
Div Incr Years2
Div Non Decr Years2
5.3 Sustainability
123.52% of the earnings are spent on dividend by GBDC. This is not a sustainable payout ratio.
The dividend of GBDC is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP123.52%
EPS Next 2Y7.56%
EPS Next 3YN/A
GOLUB CAPITAL BDC INC
NASDAQ:GBDC (2/7/2025, 4:01:05 PM)
After market: 15.55 0 (0%)15.55
+0.12 (+0.78%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)
Earnings (Next)
Inst Owners38.96%
Inst Owner Change0.01%
Ins Owners1.77%
Ins Owner Change0.11%
Market Cap4.11B
Analysts81.82
Price Target16.58 (6.62%)
Short Float %1.55%
Short Ratio2.8
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 10.19% |
Yearly Dividend1.56
Dividend Growth(5Y)15.32%
DP123.52%
Div Incr Years2
Div Non Decr Years2
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-55.21%
Min EPS beat(2)-89.91%
Max EPS beat(2)-20.51%
EPS beat(4)1
Avg EPS beat(4)-28.36%
Min EPS beat(4)-89.91%
Max EPS beat(4)5.44%
EPS beat(8)3
Avg EPS beat(8)-19.94%
EPS beat(12)5
Avg EPS beat(12)-22.36%
EPS beat(16)9
Avg EPS beat(16)0.8%
Revenue beat(2)0
Avg Revenue beat(2)-9.79%
Min Revenue beat(2)-13.43%
Max Revenue beat(2)-6.14%
Revenue beat(4)1
Avg Revenue beat(4)-4.95%
Min Revenue beat(4)-13.43%
Max Revenue beat(4)0.64%
Revenue beat(8)4
Avg Revenue beat(8)-3%
Revenue beat(12)6
Avg Revenue beat(12)-2.43%
Revenue beat(16)6
Avg Revenue beat(16)-2.92%
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)1.89%
EPS NQ rev (3m)-5.26%
EPS NY rev (1m)0%
EPS NY rev (3m)-3.63%
Revenue NQ rev (1m)1.64%
Revenue NQ rev (3m)6.5%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-3.1%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 11.52 | ||
| Fwd PE | 9.53 | ||
| P/S | 5.67 | ||
| P/FCF | 11.95 | ||
| P/OCF | 11.95 | ||
| P/B | 1.02 | ||
| P/tB | 1.02 | ||
| EV/EBITDA | N/A |
EPS(TTM)1.35
EY8.68%
EPS(NY)1.63
Fwd EY10.49%
FCF(TTM)1.3
FCFY8.37%
OCF(TTM)1.3
OCFY8.37%
SpS2.74
BVpS15.19
TBVpS15.19
PEG (NY)0.53
PEG (5Y)6.01
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.14% | ||
| ROE | 6.82% | ||
| ROCE | 4.45% | ||
| ROIC | 3.52% | ||
| ROICexc | 3.57% | ||
| ROICexgc | 3.59% | ||
| OM | 52.94% | ||
| PM (TTM) | 37.78% | ||
| GM | 51.42% | ||
| FCFM | 47.46% |
ROA(3y)3.45%
ROA(5y)3.64%
ROE(3y)7.67%
ROE(5y)7.69%
ROIC(3y)3.44%
ROIC(5y)3.07%
ROICexc(3y)3.5%
ROICexc(5y)3.12%
ROICexgc(3y)3.51%
ROICexgc(5y)3.13%
ROCE(3y)4.36%
ROCE(5y)3.88%
ROICexcg growth 3Y11.12%
ROICexcg growth 5Y17.99%
ROICexc growth 3Y10.97%
ROICexc growth 5Y17.86%
OM growth 3Y-0.23%
OM growth 5Y1.16%
PM growth 3Y-30.14%
PM growth 5YN/A
GM growth 3Y-3.61%
GM growth 5Y-0.75%
F-Score7
Asset Turnover0.08
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.15 | ||
| Debt/FCF | 13.37 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | 2.13 | ||
| Cash Conversion | N/A | ||
| Profit Quality | 125.62% | ||
| Current Ratio | 2.2 | ||
| Quick Ratio | 2.2 | ||
| Altman-Z | 0.74 |
F-Score7
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-25.82%
EPS 3Y-11.29%
EPS 5Y1.92%
EPS Q2Q%-13.33%
EPS Next Y21.84%
EPS Next 2Y7.56%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)20.16%
Revenue growth 3Y33.13%
Revenue growth 5Y33.28%
Sales Q2Q%33.94%
Revenue Next Year19.84%
Revenue Next 2Y6.5%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y31.02%
EBIT growth 3Y32.83%
EBIT growth 5Y34.83%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y76.01%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y76.01%
OCF growth 3YN/A
OCF growth 5YN/A