Industry n/a · SIC —
GOLUB CAPITAL BDC, Inc.
GBDC
Business Development Company — net investment income flows through as net income, so 'net margin' is naturally 80-95%.
Latest revenue
$85.5M
as of 2026-03-31
Latest net income
$18.4M
as of 2026-03-31
Net margin
21.6%
as of 2026-03-31
ActaClear Score
Computed from 5 years of SEC fundamentals + latest market data, ranked within industry (4096 peers). 10 = best in industry, 5 = median, 0 = worst. Refreshed Jun 6, 2026.
Fair value · DCF
DCF: 10-year forecast of free cash flow, discounted at the company's WACC, with a Gordon-growth terminal at year 10. FCF is proxied by last fiscal-year net income (proper FCF needs CFO − CapEx by year, which we don't store yet). Drag the slider to test your own growth thesis — the dominant assumption in any DCF is what comes next, not what the math does with it. Beta defaults to 1.0 when not reported.
Community sentiment
Where do you think GBDC is heading?
Price · 5Y
Live market
delayed ≤15 min- Market cap
- $3.41B
- Enterprise value
- $8.08B
- P/E (trailing)
- 9.0×
- Forward P/E
- —
- P/B
- 0.91×
- Dividend yield
- 14.0%
- 52-wk high
- $15.63
- 52-wk low
- $11.77
- Beta
- —
- Shares out
- 261.1M
5-year trend
dashed bar = fiscal Q4 derived from 10-K annual − Q1 − Q2 − Q3 (SEC requires only three 10-Qs per year).
What this company does
TABLE OF CONTENTS Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations The information contained in this section should be read in conjunction with our unaudited interim consolidated financial statements and related notes thereto appearing elsewhere in this Quarterly Report on Form 10-Q. In this report, “we,” “us,” “our” and “Golub Capital BDC” refer to Golub Capital BDC, Inc. and its consolidated subsidiaries. Forward-Looking Statements Some of the statements in this Quarterly Report on Form 10-Q constitute forward-looking statements, which relate to future events or our future performance or financial condition. The forward-looking statements…
AI summary unavailable — showing raw filing excerpt
Generated from GBDC's filing dated 2026-05-04
Key risks
Item 1A: Risk Factors. There have been no material changes during the six months ended March 31, 2026 to the risk factors discussed in Item 1A. Risk Factors in our annual report on Form 10-K for the year ended September 30, 2025.
AI summary unavailable — showing raw filing excerpt
Generated from GBDC's filing dated 2026-05-04
Profitability
Net margin
94.9%
33.0%Return on equity
9.4%
37.6%Return on assets
4.3%
29.2%Leverage
Debt / equity
1.18×
12.7%Long-term debt / equity
1.23×
6.5%Debt / assets
54.2%
5.8%Earnings tracker
| Quarter | Revenue | YoY | Net income | YoY | Net margin |
|---|---|---|---|---|---|
Q1 2026 2026-03-31 | $85.5M | -13.3% | $18.4M | -76.6% | 21.6% |
Q4 2025 2025-12-31 | $95.8M | -0.4% | $65.2M | -41.4% | 68.1% |
Q3 2025 2025-09-30 | $100.8M | -15.8% | $96.3M | +1.1% | 95.6% |
Q2 2025 2025-06-30 | $101.3M | +9.1% | $90.1M | +873.4% | 88.9% |
Q1 2025 2025-03-31 | $98.7M | +13.3% | $79.0M | -15.6% | 80.1% |
Q4 2024 2024-12-31 | $96.1M | +14.4% | $111.3M | +46.9% | 115.8% |
Q3 2024 2024-09-30 | $119.6M | — | $95.2M | — | 79.6% |
Q2 2024 2024-06-30 | $92.8M | +25.8% | $9.3M | -87.3% | 10.0% |
Year-over-year change vs the same fiscal quarter one year prior. Revenue + net income sourced from SEC 10-Q / 10-K filings — no analyst-consensus dependency.
Industry trend
Industry · SIC —
Your notes
Keep private notes on GBDC — thesis, target price, catalysts to watch.
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Insider activity
No insider transactions on file for GBDC in the last 12 months.
Source: SEC Form 4 filings. Backfill runs nightly.
Who owns GBDC
Institutional value
$1.03B
Total shares held
83.1M
Distinct holders
245
-108 vs prior
As of
2026-03-31
Prior: 2025-12-31
Filers with $100M+ AUM disclose holdings 45 days after quarter end.
Top institutional holders
| # | Manager | Shares | Value | QoQ change | Action |
|---|---|---|---|---|---|
| 1 | STRS OHIO | 17.1M | $217.0M | +435.8K (+2.6%) | Added |
| 2 | HighTower Advisors, LLC | 7.0M | $89.2M | +4.7M (+206.6%) | Added |
| 3 | UBS Group AG | 4.1M | $51.4M | +1.2M (+41.6%) | Added |
| 4 | Sage Mountain Advisors LLC | 3.8M | $47.6M | +395.3K (+11.8%) | Added |
| 5 | Sound Income Strategies, LLC | 3.8M | $46.9M | +147.7K (+4.1%) | Added |
| 6 | JPMORGAN CHASE & CO | 3.5M | $44.5M | -401.1K (-10.2%) | Trimmed |
| 7 | Allen Investment Management, LLC | 3.4M | $42.6M | -704.0K (-17.3%) | Trimmed |
| 8 | Generali Asset Management SPA SGR | 2.6M | $33.3M | +0 (+0.0%) | No change |
| 9 | Lalia Capital, LLC | 2.5M | $32.2M | +62.7K (+2.5%) | Added |
| 10 | Legal & General Group Plc | 2.2M | $28.4M | +175.8K (+8.5%) | Added |
| 11 | Muzinich & Co., Inc. | 2.0M | $25.1M | +26.2K (+1.3%) | Added |
| 12 | Arnhold LLC | 1.5M | $19.5M | +67.0K (+4.6%) | Added |
| 13 | Sumitomo Mitsui Trust Group, Inc. | 1.5M | $19.2M | +0 (+0.0%) | No change |
| 14 | Russell Investments Group, Ltd. | 1.3M | $16.2M | +922.2K (+255.8%) | Added |
| 15 | BlackRock, Inc. | 1.2M | $15.1M | -798.3K (-40.1%) | Trimmed |
| 16 | FRANKLIN RESOURCES INC | 1.1M | $14.5M | +543.2K (+89.9%) | Added |
| 17 | BANK OF MONTREAL /CAN/ | 1.1M | $13.4M | +0 (+0.0%) | No change |
| 18 | Hirtle Callaghan & Co LLC | 1.0M | $12.9M | +9.4K (+0.9%) | Added |
| 19 | SIGMA INVESTMENT COUNSELORS INC | 936.4K | $11.9M | +47.2K (+5.3%) | Added |
| 20 | Granite FO LLC | 752.6K | $9.5M | +352.1K (+87.9%) | Added |
Source: SEC Form 13F-HR. Positions aggregated across sub-managers within each firm. Options (puts/calls) excluded — common stock only.
Top questions investors are asking
Coming once GBDC's latest filing finishes processing.
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