← Back

Golub Capital BDC Inc

Golub Capital BDC, Inc. (GBDC) is a Private Debt, business development company and operates as an externally managed closed-end non-diversified management investment company. It invests in debt and minority equity investments in middle-market companies that are, in most cases, sponsored by private equity investors. It typically invests in diversified consumer services, automobiles, healthcare technology, insurance, health care equipment and supplies, hotels, restaurants and leisure, healthcare providers and services, IT services and specialty retails. It seeks to invest in the United States. It primarily invests in first lien traditional senior debt, first lien one stop, junior debt and equity, senior secured, one stop, unitranche, second lien, subordinated and mezzanine loans of middle-market companies, and warrants.

Price · split & dividend adjusted
News & notes moving GBDC
Digital Finance & Tokenization▼

Private credit distress rises as non-accruals climb

Non-accrual debt across US-registered business development companies jumped to 1.9% of total debt at cost in Q1 2026, up 52 basis points from the prior quarter, signaling growing borrower distress in private credit. Adjusted non-accrual exposure, counting all debt owed by borrowers with at least one non-accrual tranche, rose to 3.3% of total debt at cost, up 116 basis points from Q4 2025. Among the ten largest publicly traded BDCs, reported non-accrual debt reached 3.95% of total debt at cost in Q2, up 20 basis points, while adjusted exposure rose 54 basis points to 5.95%. The number of borrowers with at least one non-accrual instrument climbed to 356 in Q1 2026, representing 4.69% of all borrowers, up from 4.26% a year earlier. Two borrowers, Medallia and Inovalon, accounted for $4.4 billion of the Q1 2026 non-accrual total.
ARCC ▼FSK ▼GBDC ▼GSBD ▼MAIN ▼MFIC ▼+2
Digital Finance & Tokenization ▼
PitchBook News·7dRead more ▾
GBDC▲

Golub Capital BDC Reports Improved Q3 Results as Losses Narrow

Golub Capital BDC reported improved fiscal third-quarter results, with adjusted net income rebounding to $0.22 per share from a $0.18 loss in the prior quarter. Adjusted net investment income held steady at $0.34 per share, and the board declared a $0.33-per-share distribution fully covered by net investment income. Net asset value per share declined to $14.25, while non-accrual investments rose slightly to 1.9% of fair value, with losses concentrated in a small number of junior debt and equity positions. The company ended the quarter with $2 billion of liquidity and net debt-to-equity leverage of 1.23 times, and management noted that new-deal spreads and terms have improved despite ongoing credit stress and subdued private-equity M&A activity.
GBDC ▲
MarketBeat·22dRead more ▾
GBDC▲

Three High-Yield BDC Stocks to Buy Before August

Three business development companies offer double-digit yields as August approaches. Ares Capital, the largest publicly traded BDC, trades at $19.10, a discount to its $19.59 NAV, with a 10.05% trailing yield and strong sell-side support. Trinity Capital has surged 24.73% year to date, delivering a 15.8% effective yield on debt investments and a 11.56% dividend yield, backed by 103.9% dividend coverage in Q1 2026. Golub Capital BDC trades at $12.96, well below its $14.35 NAV, yielding 11.11%, and is repurchasing shares at 84% of NAV to boost book value. Non-accrual trends, spread direction, and dividend coverage ratios will determine whether these yields hold through the second half.
ARCC ▲GBDC ▲TRIN ▲
24/7 Wall St.·29dRead more ▾
GBDC▼

Golub Capital BDC fair value estimate cut to US$13.75 as analysts turn more cautious

Analysts have trimmed the fair value estimate for Golub Capital BDC from US$15.00 to US$13.75, an 8% reduction driven by updated model inputs including a wider revenue decline forecast of 5.49%, a higher profit margin assumption of 59.25%, a lower future P/E of 10.93 times, and an increased discount rate of 10.80%. Oppenheimer cut its price target by US$2 to US$13.75, signaling tighter expectations, while RBC Capital initiated coverage with a constructive view. Separately, the company completed a share repurchase of 2,889,604 shares for US$36.2 million between January 1 and May 4, 2026, bringing total buybacks under its August 2025 authorization to 8,413,710 shares for US$112.75 million.
GBDC ▼
Simply Wall St·61dRead more ▾
© 2026 MarketDXAsset