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Market Cap

US$2.6b

Last Updated

2021/04/11 23:02 UTC

Data Sources

Company Financials +

Executive Summary

Golub Capital BDC, Inc. is a business development company and operates as an externally managed closed-end non-diversified management investment company. More Details

Rewards


Snowflake Analysis


Similar Companies

Share Price & News

How has Golub Capital BDC's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: GBDC is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: GBDC's weekly volatility (3%) has been stable over the past year.


Market Performance


7 Day Return

2.0%

GBDC

1.8%

US Capital Markets

2.1%

US Market


1 Year Return

24.1%

GBDC

60.2%

US Capital Markets

56.3%

US Market

Return vs Industry: GBDC underperformed the US Capital Markets industry which returned 60.2% over the past year.

Return vs Market: GBDC underperformed the US Market which returned 56.3% over the past year.


Shareholder returns

GBDCIndustryMarket
7 Day2.0%1.8%2.1%
30 Day3.6%1.2%2.4%
90 Day8.3%10.5%6.8%
1 Year35.3%24.1%63.9%60.2%59.1%56.3%
3 Year10.0%-13.7%56.1%44.8%65.7%55.1%
5 Year31.5%-11.6%154.9%123.3%122.3%97.7%

Long-Term Price Volatility Vs. Market

How volatile is Golub Capital BDC's share price compared to the market and industry in the last 5 years?


Simply Wall St News

3 years ago | Simply Wall St

What Do Investors Need To Know About Golub Capital BDC Inc's (GBDC) Future?

Valuation

Is Golub Capital BDC undervalued compared to its fair value and its price relative to the market?

23.7x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: GBDC ($15.38) is trading above our estimate of fair value ($12.08)

Significantly Below Fair Value: GBDC is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: GBDC is good value based on its PE Ratio (23.7x) compared to the US Capital Markets industry average (25.2x).

PE vs Market: GBDC is poor value based on its PE Ratio (23.7x) compared to the US market (22.3x).


Price to Earnings Growth Ratio

PEG Ratio: GBDC is poor value based on its PEG Ratio (2.9x)


Price to Book Ratio

PB vs Industry: GBDC is good value based on its PB Ratio (1.1x) compared to the US Capital Markets industry average (68.9x).

Future Growth

How is Golub Capital BDC forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

8.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: GBDC's forecast earnings growth (8.1% per year) is above the savings rate (2%).

Earnings vs Market: GBDC's earnings (8.1% per year) are forecast to grow slower than the US market (18.6% per year).

High Growth Earnings: GBDC's earnings are forecast to grow, but not significantly.

Revenue vs Market: GBDC's revenue (8.4% per year) is forecast to grow slower than the US market (9.9% per year).

High Growth Revenue: GBDC's revenue (8.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if GBDC's Return on Equity is forecast to be high in 3 years time

Past Performance

How has Golub Capital BDC performed over the past 5 years?

-28.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: GBDC has a large one-off loss of $37.9M impacting its December 31 2020 financial results.

Growing Profit Margin: GBDC's current net profit margins (34.7%) are higher than last year (3.5%).


Past Earnings Growth Analysis

Earnings Trend: GBDC's earnings have declined by 28.3% per year over the past 5 years.

Accelerating Growth: GBDC's earnings growth over the past year (1297.3%) exceeds its 5-year average (-28.3% per year).

Earnings vs Industry: GBDC earnings growth over the past year (1297.3%) exceeded the Capital Markets industry 10.4%.


Return on Equity

High ROE: GBDC's Return on Equity (4.2%) is considered low.

Financial Health

How is Golub Capital BDC's financial position?


Financial Position Analysis

Short Term Liabilities: GBDC's short term assets ($295.2M) exceed its short term liabilities ($33.7M).

Long Term Liabilities: GBDC's short term assets ($295.2M) do not cover its long term liabilities ($2.3B).


Debt to Equity History and Analysis

Debt Level: GBDC's debt to equity ratio (95.1%) is considered high.

Reducing Debt: GBDC's debt to equity ratio has reduced from 98.4% to 95.1% over the past 5 years.

Debt Coverage: GBDC's debt is not well covered by operating cash flow (5.8%).

Interest Coverage: GBDC's interest payments on its debt are well covered by EBIT (3.2x coverage).


Balance Sheet

Dividend

What is Golub Capital BDC current dividend yield, its reliability and sustainability?

7.54%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: GBDC's dividend (7.54%) is higher than the bottom 25% of dividend payers in the US market (1.26%).

High Dividend: GBDC's dividend (7.54%) is in the top 25% of dividend payers in the US market (3.5%)


Stability and Growth of Payments

Stable Dividend: GBDC's dividend payments have been volatile in the past 10 years.

Growing Dividend: GBDC's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (184.9%), GBDC's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.

Management

How experienced are the management team and are they aligned to shareholders interests?

11.3yrs

Average board tenure


CEO

David Golub (58 yo)

11.42yrs

Tenure

Mr. David B. Golub serves as President in GC OPAL Advisors LLC. He also serves as the President and Member of Board of Directors at Golub Capital LLC and has been the Vice Chairman from January 2004. Mr. G...


Board Members

Experienced Board: GBDC's board of directors are seasoned and experienced ( 11.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: GBDC insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 25%.


Top Shareholders

Company Information

Golub Capital BDC, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Golub Capital BDC, Inc.
  • Ticker: GBDC
  • Exchange: NasdaqGS
  • Founded: 2009
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Market Cap: US$2.572b
  • Shares outstanding: 167.26m
  • Website: https://www.golubcapitalbdc.com

Location

  • Golub Capital BDC, Inc.
  • Chicago
  • Illinois
  • United States

Listings


Biography

Golub Capital BDC, Inc. is a business development company and operates as an externally managed closed-end non-diversified management investment company. It invests in debt and minority equity investments ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/04/11 23:02
End of Day Share Price2021/04/09 00:00
Earnings2020/12/31
Annual Earnings2020/09/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.