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Golub Capital BDC, Inc.

GBDCFinancial ServicesNASDAQ

Asset Management

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Financials · Annual
Revenue
$407.8M
+49.6% YoY
Net Income
$376.6M
+37.6% YoY
Free Cash Flow
$298.0M

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About Golub Capital BDC, Inc.

(GBDC) is a business development company and operates as an externally managed closed-end non-diversified management investment company. Valued at $3.43B, GBDC is a mid-cap name in its sector. It invests in debt and minority equity investments in middle-market companies that are, in most cases, sponsored by private equity investors.

Key stats
Market Cap$3.43B
P/E (TTM)17.09
Fwd P/E10.43
EPS$0.77
Beta0.43
52W Change-13.1%
Dividend Yield10.94%
ROE5.3%
Analysis

Golub Capital BDC, Inc. carries $4.70B in total debt against $72.2M in cash reserves — debt is roughly 65.1x the cash position. Managing this leverage effectively will be important for long-term financial stability. Annual free cash flow of $298.0M supports ongoing capital allocation decisions and provides a cushion against unexpected expenses or downturns. Return on equity stands at 5.3%, which is modest for the sector. ROE measures how effectively a company uses shareholder capital to generate profits. ROA of 4.7% is on the lower side, which is common in asset-heavy industries. Revenue has grown from $165.3M (2022) to $407.8M (2025), reflecting a 147% increase over the period.

The relatively low beta of 0.43 suggests GBDC is a less volatile holding compared to the broader index. The debt-to-cash ratio suggests meaningful leverage on the balance sheet, a factor worth monitoring if credit conditions tighten. Understanding these risk dimensions helps frame what to watch going forward as conditions evolve for Golub Capital BDC, Inc. and its sector.

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