GOLUB CAPITAL BDC INC (GBDC) Stock Fundamental Analysis
NASDAQ:GBDC - Nasdaq - US38173M1027 - Common Stock - Currency: USD
Taking everything into account, GBDC scores 5 out of 10 in our fundamental rating. GBDC was compared to 233 industry peers in the Capital Markets industry. GBDC has only an average score on both its financial health and profitability. GBDC has a correct valuation and a medium growth rate.
1. Profitability
1.1 Basic Checks
GBDC had positive earnings in the past year.
In the past year GBDC has reported a negative cash flow from operations.
Each year in the past 5 years GBDC has been profitable.
In multiple years GBDC reported negative operating cash flow during the last 5 years.
1.2 Ratios
The Return On Assets of GBDC (3.39%) is comparable to the rest of the industry.
With a Return On Equity value of 7.34%, GBDC perfoms like the industry average, outperforming 45.92% of the companies in the same industry.
Looking at the Return On Invested Capital, with a value of 3.73%, GBDC is in line with its industry, outperforming 48.07% of the companies in the same industry.
The Average Return On Invested Capital over the past 3 years for GBDC is below the industry average of 7.86%.
The 3 year average ROIC (3.44%) for GBDC is below the current ROIC(3.73%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.39% | ||
| ROE | 7.34% | ||
| ROIC | 3.73% |
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 35.50%, GBDC belongs to the best of the industry, outperforming 80.69% of the companies in the same industry.
GBDC's Profit Margin has declined in the last couple of years.
GBDC has a Operating Margin of 49.05%. This is amongst the best in the industry. GBDC outperforms 83.26% of its industry peers.
GBDC's Operating Margin has been stable in the last couple of years.
With a Gross Margin value of 48.69%, GBDC perfoms like the industry average, outperforming 54.08% of the companies in the same industry.
GBDC's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 49.05% | ||
| PM (TTM) | 35.5% | ||
| GM | 48.69% |
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
GBDC has more shares outstanding than it did 1 year ago.
The number of shares outstanding for GBDC has been increased compared to 5 years ago.
GBDC has a better debt/assets ratio than last year.
2.2 Solvency
GBDC has an Altman-Z score of 0.77. 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 0.77. This is comparable to the rest of the industry: GBDC outperforms 45.06% 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 in line with its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.15 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 0.77 |
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 72.96% 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.
With a decent Quick ratio value of 2.20, GBDC is doing good in the industry, outperforming 72.96% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.2 | ||
| Quick Ratio | 2.2 |
3. Growth
3.1 Past
The earnings per share for GBDC have decreased strongly by -44.33% in the last year.
GBDC shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 1.92% yearly.
Looking at the last year, GBDC shows a very strong growth in Revenue. The Revenue has grown by 28.09%.
The Revenue has been growing by 33.28% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)-44.33%
EPS 3Y-11.29%
EPS 5Y1.92%
EPS Q2Q%-45.45%
Revenue 1Y (TTM)28.09%
Revenue growth 3Y33.13%
Revenue growth 5Y33.28%
Sales Q2Q%30.24%
3.2 Future
The Earnings Per Share is expected to grow by 0.90% on average over the next years.
Based on estimates for the next years, GBDC will show a small growth in Revenue. The Revenue will grow by 3.40% on average per year.
EPS Next Y7.06%
EPS Next 2Y2.69%
EPS Next 3Y0.9%
EPS Next 5YN/A
Revenue Next Year17.94%
Revenue Next 2Y5.49%
Revenue Next 3Y3.4%
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. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 13.66, which indicates a correct valuation of GBDC.
Based on the Price/Earnings ratio, GBDC is valued a bit cheaper than the industry average as 60.52% of the companies are valued more expensively.
GBDC's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.50.
A Price/Forward Earnings ratio of 10.39 indicates a reasonable valuation of GBDC.
GBDC's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. GBDC is cheaper than 72.10% of the companies in the same industry.
GBDC's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 36.44.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.66 | ||
| Fwd PE | 10.39 |
4.2 Price Multiples
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates GBDC does not grow enough to justify the current Price/Earnings ratio.
PEG (NY)1.93
PEG (5Y)7.13
EPS Next 2Y2.69%
EPS Next 3Y0.9%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 10.34%, GBDC is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 7.76, GBDC pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.35, GBDC pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 10.34% |
5.2 History
On average, the dividend of GBDC grows each year by 15.32%, which is quite nice.
GBDC has paid a dividend for at least 10 years, which is 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
139.87% of the earnings are spent on dividend by GBDC. This is not a sustainable payout ratio.
GBDC's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP139.87%
EPS Next 2Y2.69%
EPS Next 3Y0.9%
15.44
-0.04 (-0.26%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)
Earnings (Next)
Inst Owners42.15%
Inst Owner Change-0.01%
Ins Owners6.33%
Ins Owner Change0%
Market Cap4.11B
Analysts81.82
Price Target15.56 (0.78%)
Short Float %2.42%
Short Ratio4.48
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 10.34% |
Yearly Dividend1.56
Dividend Growth(5Y)15.32%
DP139.87%
Div Incr Years3
Div Non Decr Years3
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-16.47%
Min EPS beat(2)-28.26%
Max EPS beat(2)-4.68%
EPS beat(4)0
Avg EPS beat(4)-35.84%
Min EPS beat(4)-89.91%
Max EPS beat(4)-4.68%
EPS beat(8)3
Avg EPS beat(8)-14.61%
EPS beat(12)3
Avg EPS beat(12)-28.97%
EPS beat(16)7
Avg EPS beat(16)-12.46%
Revenue beat(2)0
Avg Revenue beat(2)-6.35%
Min Revenue beat(2)-6.55%
Max Revenue beat(2)-6.16%
Revenue beat(4)0
Avg Revenue beat(4)-8.07%
Min Revenue beat(4)-13.43%
Max Revenue beat(4)-6.14%
Revenue beat(8)3
Avg Revenue beat(8)-3.63%
Revenue beat(12)6
Avg Revenue beat(12)-2.6%
Revenue beat(16)6
Avg Revenue beat(16)-3.1%
PT rev (1m)0%
PT rev (3m)-4.69%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-5.74%
EPS NY rev (1m)-5.37%
EPS NY rev (3m)-9.31%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-2.89%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-2.44%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.66 | ||
| Fwd PE | 10.39 | ||
| P/S | 4.95 | ||
| P/FCF | N/A | ||
| P/OCF | N/A | ||
| P/B | 1.02 | ||
| P/tB | 1.02 | ||
| EV/EBITDA | N/A |
EPS(TTM)1.13
EY7.32%
EPS(NY)1.49
Fwd EY9.63%
FCF(TTM)-0.56
FCFYN/A
OCF(TTM)-0.56
OCFYN/A
SpS3.12
BVpS15.07
TBVpS15.07
PEG (NY)1.93
PEG (5Y)7.13
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.39% | ||
| ROE | 7.34% | ||
| ROCE | 4.73% | ||
| ROIC | 3.73% | ||
| ROICexc | 3.79% | ||
| ROICexgc | 3.81% | ||
| OM | 49.05% | ||
| PM (TTM) | 35.5% | ||
| GM | 48.69% | ||
| FCFM | N/A |
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-Score3
Asset Turnover0.1
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.15 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | 1.68 | ||
| Cash Conversion | N/A | ||
| Profit Quality | N/A | ||
| Current Ratio | 2.2 | ||
| Quick Ratio | 2.2 | ||
| Altman-Z | 0.77 |
F-Score3
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)-44.33%
EPS 3Y-11.29%
EPS 5Y1.92%
EPS Q2Q%-45.45%
EPS Next Y7.06%
EPS Next 2Y2.69%
EPS Next 3Y0.9%
EPS Next 5YN/A
Revenue 1Y (TTM)28.09%
Revenue growth 3Y33.13%
Revenue growth 5Y33.28%
Sales Q2Q%30.24%
Revenue Next Year17.94%
Revenue Next 2Y5.49%
Revenue Next 3Y3.4%
Revenue Next 5YN/A
EBIT growth 1Y23.55%
EBIT growth 3Y32.83%
EBIT growth 5Y34.83%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-368.83%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-368.83%
OCF growth 3YN/A
OCF growth 5YN/A