GOLUB CAPITAL BDC INC (GBDC) Fundamental Analysis & Valuation
NASDAQ:GBDC • US38173M1027
12.39 USD
-0.07 (-0.56%)
At close: Mar 5, 2026
12.44 USD
+0.05 (+0.4%)
After Hours: 3/5/2026, 8:00:01 PM
This GBDC fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.
We assign a fundamental rating of 4 out of 10 to GBDC. GBDC was compared to 238 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 it does not seem to be growing.
1. GBDC Profitability Analysis
1.1 Basic Checks
- In the past year GBDC was profitable.
- GBDC had a positive operating cash flow in the past year.
- In the past 5 years GBDC has always been profitable.
- In multiple years GBDC reported negative operating cash flow during the last 5 years.
1.2 Ratios
- Looking at the Return On Assets, with a value of 3.72%, GBDC is in line with its industry, outperforming 58.82% of the companies in the same industry.
- With a Return On Equity value of 8.46%, GBDC perfoms like the industry average, outperforming 50.84% of the companies in the same industry.
- GBDC has a Return On Invested Capital of 3.56%. This is comparable to the rest of the industry: GBDC outperforms 48.74% of its industry peers.
| 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 84.03% of its industry peers.
- GBDC's Profit Margin has improved in the last couple of years.
- With an excellent Operating Margin value of 46.26%, GBDC belongs to the best of the industry, outperforming 83.19% of the companies in the same industry.
- GBDC's Operating Margin has been stable in the last couple of years.
- GBDC has a Gross Margin (48.85%) which is comparable to the rest of the industry.
- 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 | 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
- GBDC has an Altman-Z score of 0.63. 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 (0.63) which is in line with its industry peers.
- 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.
- GBDC's Debt to FCF ratio of 10.31 is fine compared to the rest of the industry. GBDC outperforms 61.76% of its industry peers.
- GBDC has a Debt/Equity ratio of 1.25. This is a high value indicating a heavy dependency on external financing.
- GBDC has a worse Debt to Equity ratio (1.25) than 62.18% 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
- GBDC has a Current 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's Current ratio of 1.63 is fine compared to the rest of the industry. GBDC outperforms 70.17% of its industry peers.
- A Quick Ratio of 1.63 indicates that GBDC should not have too much problems paying its short term obligations.
- GBDC's Quick ratio of 1.63 is fine compared to the rest of the industry. GBDC outperforms 70.17% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.63 | ||
| Quick Ratio | 1.63 |
3. GBDC Growth Analysis
3.1 Past
- The earnings per share for GBDC have decreased by -9.42% in the last year.
- The Earnings Per Share has been growing slightly by 3.20% on average over the past years.
- 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 -3.27% on average over the next years.
- The Revenue is expected to decrease by -4.53% on average over the next years.
EPS Next Y3.62%
EPS Next 2Y-3.24%
EPS Next 3Y-3.27%
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 9.91, 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 65.97% of the companies in the same industry.
- When comparing the Price/Earnings ratio of GBDC to the average of the S&P500 Index (26.74), we can say GBDC is valued rather cheaply.
- The Price/Forward Earnings ratio is 9.32, which indicates a very decent valuation of GBDC.
- Compared to the rest of the industry, the Price/Forward Earnings ratio of GBDC indicates a somewhat cheap valuation: GBDC is cheaper than 73.95% of the companies listed in the same industry.
- When comparing the Price/Forward Earnings ratio of GBDC to the average of the S&P500 Index (24.82), we can say GBDC is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.91 | ||
| Fwd PE | 9.32 |
4.2 Price Multiples
- 83.19% of the companies in the same industry are more expensive than GBDC, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 6.89 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
- The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
- GBDC's earnings are expected to decrease with -3.27% in the coming years. This may justify a cheaper valuation.
PEG (NY)2.74
PEG (5Y)3.1
EPS Next 2Y-3.24%
EPS Next 3Y-3.27%
5. GBDC Dividend Analysis
5.1 Amount
- GBDC has a Yearly Dividend Yield of 10.77%, which is a nice return.
- Compared to an average industry Dividend Yield of 6.57, GBDC pays a bit more dividend than its industry peers.
- Compared to an average S&P500 Dividend Yield of 1.82, GBDC pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 10.77% |
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-3.24%
EPS Next 3Y-3.27%
GBDC Fundamentals: All Metrics, Ratios and Statistics
12.39
-0.07 (-0.56%)
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 Owners44.72%
Inst Owner Change8.55%
Ins Owners1.38%
Ins Owner Change0%
Market Cap3.26B
Revenue(TTM)857.08M
Net Income(TTM)330.58M
Analysts83.33
Price Target14.69 (18.56%)
Short Float %3.76%
Short Ratio3.75
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 10.77% |
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)-5.57%
EPS NQ rev (1m)-0.85%
EPS NQ rev (3m)-1.68%
EPS NY rev (1m)0%
EPS NY rev (3m)-2.68%
Revenue NQ rev (1m)0.28%
Revenue NQ rev (3m)-3.13%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-4.9%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 9.91 | ||
| Fwd PE | 9.32 | ||
| P/S | 3.81 | ||
| P/FCF | 6.89 | ||
| P/OCF | 6.89 | ||
| P/B | 0.83 | ||
| P/tB | 0.83 | ||
| EV/EBITDA | N/A |
EPS(TTM)1.25
EY10.09%
EPS(NY)1.33
Fwd EY10.73%
FCF(TTM)1.8
FCFY14.51%
OCF(TTM)1.8
OCFY14.51%
SpS3.26
BVpS14.85
TBVpS14.85
PEG (NY)2.74
PEG (5Y)3.1
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 Y3.62%
EPS Next 2Y-3.24%
EPS Next 3Y-3.27%
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 9.91 and the Price/Book (PB) ratio is 0.83.
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%.