GOLUB CAPITAL BDC INC (GBDC) Fundamental Analysis & Valuation
NASDAQ:GBDC • US38173M1027
12.205 USD
-0.03 (-0.2%)
Last: Mar 10, 2026, 03:08 PM
This GBDC fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
GBDC gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 242 industry peers in the Capital Markets industry. There are concerns on the financial health of GBDC while its profitability can be described as average. GBDC has a valuation in line with the averages, but on the other hand it scores bad on growth.
1. GBDC Profitability Analysis
1.1 Basic Checks
- In the past year GBDC was profitable.
- In the past year GBDC had a positive cash flow from operations.
- In the past 5 years GBDC has always been profitable.
- 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
- Looking at the Return On Assets, with a value of 3.72%, GBDC is in line with its industry, outperforming 59.50% of the companies in the same industry.
- GBDC has a Return On Equity (8.46%) which is in line with its industry peers.
- With a Return On Invested Capital value of 3.56%, GBDC perfoms like the industry average, outperforming 49.59% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.72% | ||
| ROE | 8.46% | ||
| ROIC | 3.56% |
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
- GBDC's Profit Margin of 38.57% is amongst the best of the industry. GBDC outperforms 83.06% of its industry peers.
- In the last couple of years the Profit Margin of GBDC has grown nicely.
- With an excellent Operating Margin value of 46.26%, GBDC belongs to the best of the industry, outperforming 83.88% of the companies in the same industry.
- 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 (48.85%) which is in line with its industry peers.
- GBDC's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 46.26% | ||
| PM (TTM) | 38.57% | ||
| GM | 48.85% |
OM growth 3Y-3.11%
OM growth 5Y-0.41%
PM growth 3Y3.02%
PM growth 5Y18.69%
GM growth 3Y-3.37%
GM growth 5Y-0.96%
2. GBDC Health Analysis
2.1 Basic Checks
- GBDC has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
2.2 Solvency
- Based on the Altman-Z score of 0.63, we must say that GBDC is in the distress zone and has some risk of bankruptcy.
- GBDC has a Altman-Z score (0.63) which is comparable to the rest of the industry.
- GBDC has a debt to FCF ratio of 10.31. This is a negative value and a sign of low solvency as GBDC would need 10.31 years to pay back of all of its debts.
- With a decent Debt to FCF ratio value of 10.31, GBDC is doing good in the industry, outperforming 61.98% of the companies in the same industry.
- A Debt/Equity ratio of 1.25 is on the high side and indicates that GBDC has dependencies on debt financing.
- GBDC has a Debt to Equity ratio of 1.25. This is in the lower half of the industry: GBDC underperforms 61.98% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.25 | ||
| Debt/FCF | 10.31 | ||
| Altman-Z | 0.63 |
ROIC/WACCN/A
WACCN/A
2.3 Liquidity
- A Current Ratio of 1.63 indicates that GBDC should not have too much problems paying its short term obligations.
- GBDC has a better Current ratio (1.63) than 70.25% of its industry peers.
- GBDC has a Quick Ratio of 1.63. This is a normal value and indicates that GBDC is financially healthy and should not expect problems in meeting its short term obligations.
- GBDC has a Quick ratio of 1.63. This is in the better half of the industry: GBDC outperforms 70.25% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.63 | ||
| Quick Ratio | 1.63 |
3. GBDC Growth Analysis
3.1 Past
- GBDC shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -9.42%.
- Measured over the past 5 years, GBDC shows a small growth in Earnings Per Share. The EPS has been growing by 3.20% on average per year.
- Looking at the last year, GBDC shows a quite strong growth in Revenue. The Revenue has grown by 9.80% in the last year.
- GBDC shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 23.84% yearly.
EPS 1Y (TTM)-9.42%
EPS 3Y16.42%
EPS 5Y3.2%
EPS Q2Q%-40.48%
Revenue 1Y (TTM)9.8%
Revenue growth 3Y30.95%
Revenue growth 5Y23.84%
Sales Q2Q%-5.89%
3.2 Future
- The Earnings Per Share is expected to decrease by -1.76% on average over the next years.
- Based on estimates for the next years, GBDC will show a decrease in Revenue. The Revenue will decrease by -4.53% on average per year.
EPS Next Y-2.31%
EPS Next 2Y-2.72%
EPS Next 3Y-1.76%
EPS Next 5YN/A
Revenue Next Year-8.61%
Revenue Next 2Y-6.59%
Revenue Next 3Y-4.53%
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 decreasing.
- The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. GBDC Valuation Analysis
4.1 Price/Earnings Ratio
- With a Price/Earnings ratio of 9.76, the valuation of GBDC can be described as very reasonable.
- Based on the Price/Earnings ratio, GBDC is valued a bit cheaper than 65.29% of the companies in the same industry.
- GBDC is valuated cheaply when we compare the Price/Earnings ratio to 26.45, which is the current average of the S&P500 Index.
- A Price/Forward Earnings ratio of 9.08 indicates a reasonable valuation of GBDC.
- Based on the Price/Forward Earnings ratio, GBDC is valued a bit cheaper than the industry average as 72.31% of the companies are valued more expensively.
- The average S&P500 Price/Forward Earnings ratio is at 24.65. GBDC is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.76 | ||
| Fwd PE | 9.08 |
4.2 Price Multiples
- Based on the Price/Free Cash Flow ratio, GBDC is valued cheaper than 82.23% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 6.79 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
PEG (NY)N/A
PEG (5Y)3.05
EPS Next 2Y-2.72%
EPS Next 3Y-1.76%
5. GBDC Dividend Analysis
5.1 Amount
- GBDC has a Yearly Dividend Yield of 10.65%, which is a nice return.
- Compared to an average industry Dividend Yield of 6.64, GBDC pays a bit more dividend than its industry peers.
- GBDC's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 10.65% |
5.2 History
- On average, the dividend of GBDC grows each year by 15.32%, which is quite nice.
- GBDC has been paying a dividend for at least 10 years, so it has a reliable track record.
- GBDC has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)15.32%
Div Incr Years3
Div Non Decr Years3
5.3 Sustainability
- 104.18% of the earnings are spent on dividend by GBDC. This is not a sustainable payout ratio.
- GBDC's earnings are declining while the Dividend Rate has been growing. This means the dividend growth is most likely not sustainable.
DP104.18%
EPS Next 2Y-2.72%
EPS Next 3Y-1.76%
GBDC Fundamentals: All Metrics, Ratios and Statistics
NASDAQ:GBDC (3/10/2026, 3:08:51 PM)
12.205
-0.03 (-0.2%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)02-04 2026-02-04/amc
Earnings (Next)05-04 2026-05-04
Inst Owners47.88%
Inst Owner Change8.55%
Ins Owners1.38%
Ins Owner Change0%
Market Cap3.21B
Revenue(TTM)857.08M
Net Income(TTM)330.58M
Analysts83.33
Price Target14.69 (20.36%)
Short Float %3.76%
Short Ratio3.75
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 10.65% |
Yearly Dividend1.56
Dividend Growth(5Y)15.32%
DP104.18%
Div Incr Years3
Div Non Decr Years3
Ex-Date03-13 2026-03-13 (0.33)
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-22.03%
Min EPS beat(2)-35.02%
Max EPS beat(2)-9.04%
EPS beat(4)0
Avg EPS beat(4)-21.41%
Min EPS beat(4)-35.02%
Max EPS beat(4)-9.04%
EPS beat(8)1
Avg EPS beat(8)-24.41%
EPS beat(12)3
Avg EPS beat(12)-15.91%
EPS beat(16)4
Avg EPS beat(16)-23.73%
Revenue beat(2)0
Avg Revenue beat(2)-2.38%
Min Revenue beat(2)-3.81%
Max Revenue beat(2)-0.96%
Revenue beat(4)0
Avg Revenue beat(4)-3.11%
Min Revenue beat(4)-6.55%
Max Revenue beat(4)-0.96%
Revenue beat(8)0
Avg Revenue beat(8)-4.88%
Revenue beat(12)3
Avg Revenue beat(12)-3.67%
Revenue beat(16)6
Avg Revenue beat(16)-2.79%
PT rev (1m)-4%
PT rev (3m)-4%
EPS NQ rev (1m)-0.3%
EPS NQ rev (3m)-1.14%
EPS NY rev (1m)-5.72%
EPS NY rev (3m)-6.27%
Revenue NQ rev (1m)0.28%
Revenue NQ rev (3m)0.06%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.24%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.76 | ||
| Fwd PE | 9.08 | ||
| P/S | 3.75 | ||
| P/FCF | 6.79 | ||
| P/OCF | 6.79 | ||
| P/B | 0.82 | ||
| P/tB | 0.82 | ||
| EV/EBITDA | N/A |
EPS(TTM)1.25
EY10.24%
EPS(NY)1.34
Fwd EY11.01%
FCF(TTM)1.8
FCFY14.73%
OCF(TTM)1.8
OCFY14.73%
SpS3.26
BVpS14.85
TBVpS14.85
PEG (NY)N/A
PEG (5Y)3.05
Graham Number20.44
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.72% | ||
| ROE | 8.46% | ||
| ROCE | 4.51% | ||
| ROIC | 3.56% | ||
| ROICexc | 3.6% | ||
| ROICexgc | 3.61% | ||
| OM | 46.26% | ||
| PM (TTM) | 38.57% | ||
| GM | 48.85% | ||
| FCFM | 55.2% |
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3Y-3.11%
OM growth 5Y-0.41%
PM growth 3Y3.02%
PM growth 5Y18.69%
GM growth 3Y-3.37%
GM growth 5Y-0.96%
F-Score5
Asset Turnover0.1
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.25 | ||
| Debt/FCF | 10.31 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | 1.5 | ||
| Cash Conversion | N/A | ||
| Profit Quality | 143.13% | ||
| Current Ratio | 1.63 | ||
| Quick Ratio | 1.63 | ||
| Altman-Z | 0.63 |
F-Score5
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)-9.42%
EPS 3Y16.42%
EPS 5Y3.2%
EPS Q2Q%-40.48%
EPS Next Y-2.31%
EPS Next 2Y-2.72%
EPS Next 3Y-1.76%
EPS Next 5YN/A
Revenue 1Y (TTM)9.8%
Revenue growth 3Y30.95%
Revenue growth 5Y23.84%
Sales Q2Q%-5.89%
Revenue Next Year-8.61%
Revenue Next 2Y-6.59%
Revenue Next 3Y-4.53%
Revenue Next 5YN/A
EBIT growth 1Y0.19%
EBIT growth 3Y26.87%
EBIT growth 5Y23.32%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y54.56%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y54.56%
OCF growth 3YN/A
OCF growth 5YN/A
GOLUB CAPITAL BDC INC / GBDC FAQ
Can you provide the ChartMill fundamental rating for GOLUB CAPITAL BDC INC?
ChartMill assigns a fundamental rating of 4 / 10 to GBDC.
What is the valuation status of GOLUB CAPITAL BDC INC (GBDC) stock?
ChartMill assigns a valuation rating of 5 / 10 to GOLUB CAPITAL BDC INC (GBDC). This can be considered as Fairly Valued.
What is the profitability of GBDC stock?
GOLUB CAPITAL BDC INC (GBDC) has a profitability rating of 5 / 10.
What are the PE and PB ratios of GOLUB CAPITAL BDC INC (GBDC) stock?
The Price/Earnings (PE) ratio for GOLUB CAPITAL BDC INC (GBDC) is 9.76 and the Price/Book (PB) ratio is 0.82.
Is the dividend of GOLUB CAPITAL BDC INC sustainable?
The dividend rating of GOLUB CAPITAL BDC INC (GBDC) is 6 / 10 and the dividend payout ratio is 104.18%.