Financial health
- Total debt ($4.9B) exceeds cash ($112M); net debt is $4.8B.
Shareholder returns
- Dividends have been paid for 6 consecutive years, consuming 97.8% of earnings.
- The dividend has grown 22.0% per year over the past 5 years.
GBDC Financials Golub Capital Bdc, Inc.
6 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
Net income
ROEROA
Equity
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key annual figures
| FY | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| 2025 | — | $377M | — | — | 9.5% | 4.2% | — | $4.9B | $112M |
| 2024 | — | $274M | — | — | 6.8% | 3.1% | — | $4.6B | $360M |
| 2023 | — | $259M | — | — | 10.2% | 4.5% | — | $3.1B | $140M |
| 2022 | — | $153M | — | — | 6.0% | 2.7% | — | $3.1B | $181M |
| 2021 | — | $340M | — | — | 13.2% | 6.6% | — | $2.6B | $244M |
| 2020 | — | $55M | — | — | 2.3% | — | — | — | $184M |
Net income
ROEROA
Equity
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key quarterly figures
| Quarter | Revenue | Net income | Gross M | Op M | ROE | ROA | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|---|---|
| Jun '26 | — | $57M | — | — | 1.5% | 0.7% | — | $4.5B | $71M |
| Mar '26 | — | -$47M | — | — | -1.2% | -0.5% | — | $4.7B | $135M |
| Dec '25 | — | $65M | — | — | 1.7% | 0.7% | — | $4.9B | $161M |
| Sep '25 | — | $96M | — | — | 2.4% | 1.1% | — | $4.9B | $112M |
| Jun '25 | — | $90M | — | — | 2.3% | 1.0% | — | $5.1B | $179M |
| Mar '25 | — | $79M | — | — | 2.0% | 0.9% | — | $4.8B | $246M |
| Dec '24 | — | $111M | — | — | 2.8% | 1.2% | — | $4.9B | $221M |
| Sep '24 | — | $95M | — | — | 2.4% | 1.1% | — | $4.6B | $360M |
| Jun '24 | — | $9M | — | — | 0.2% | 0.1% | — | $4.3B | $465M |
| Mar '24 | — | $94M | — | — | 3.6% | 1.6% | — | $3.3B | $460M |
| Dec '23 | — | $76M | — | — | 3.0% | 1.3% | — | $3.1B | $173M |
| Sep '23 | — | $102M | — | — | 4.0% | 1.8% | — | $3.1B | $140M |
| Jun '23 | — | $73M | — | — | 2.9% | 1.3% | — | $3.2B | $171M |
| Mar '23 | — | $59M | — | — | 2.3% | 1.0% | — | $3.1B | $138M |
| Dec '22 | — | $26M | — | — | 1.0% | 0.5% | — | $3.1B | $166M |
| Sep '22 | — | $8M | — | — | 0.3% | 0.1% | — | $3.1B | $181M |
| Jun '22 | — | $15M | — | — | 0.6% | — | — | — | $121M |
| Mar '22 | — | $67M | — | — | 2.5% | — | — | — | $174M |
| Dec '21 | — | $63M | — | — | 2.4% | — | — | — | $301M |
Valuation over time
How the market has priced GBDC against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
- The price-to-earnings ratio has fallen from 23.0× (Mar '23) to 8.9× (Sep '26).
- The dividend yield has risen from 4.4% (Mar '23) to 10.9% (Sep '26).
P/E
Dividend yield %
Frequently asked questions
Is GBDC growing its revenue and profit?
See the revenue and net-income charts above for Golub Capital Bdc, Inc.'s multi-year trend.
How much debt does GBDC have?
As of FY2025, Golub Capital Bdc, Inc. reported $4.9B of total debt against $112M of cash.
What is GBDC's profit margin?
In FY2025, gross margin was —, operating margin —, and net margin —.
What is GBDC's P/E ratio?
As of Sep '26, Golub Capital Bdc, Inc. traded at a price-to-earnings ratio of about 8.9× (market cap ÷ latest annual net income). The valuation charts above show how its P/E and dividend yield have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.