Golub Capital BDC
Provides senior secured loans to private-equity-sponsored U.S. middle-market companies through an externally managed BDC.
Something off on this page? Send us feedback.
Profile
Invests primarily in first-lien and one-stop loans to private-equity-sponsored U.S. middle-market companies. The externally managed BDC relies on Golub Capital's sponsor-finance platform and operates within BDC and RIC requirements.
Operates as an externally managed business development company, investing primarily in first-lien senior secured loans and one-stop loans to private-equity-sponsored U.S. middle-market companies.
The investment platform originates directly through sponsor relationships, underwrites loans, and uses financing infrastructure to support leveraged investment vehicles. The portfolio is diversified across borrower industries, though software is its largest disclosed industry exposure.
Earnings and asset values depend on portfolio-company credit performance and valuations, GC Advisors' external-management arrangement, and access to financing within the BDC framework. BDC and RIC elections also constrain investment, distribution, and leverage practices.
Company facts
Categories
Key statistics
Year to date −4.0% · Average volume (30d) 1.0M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| May 6, 2026 | Oppenheimer | Target | $14 | |||
| Apr 17, 2026 | RBC Capital | Target | $15 | |||
| Feb 6, 2026 | Wells Fargo | Reiterate | Overweight | $14 | $13 | |
| Jan 15, 2026 | Capital One Financial | Target | $15 | |||
| Jan 7, 2026 | Wells Fargo | Upgrade | Equal Weight | Overweight | $17.50 | $14 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 3, 2026Q3 FY26 | $0.33 | $0.34 | +2.0% | $189.9M | $187.7M | −1.1% | −0.83% |
| May 4, 2026Q2 FY26 | $0.36 | $0.34 | −5.6% | $201.7M | $188.1M | −6.7% | −2.05% |
| Feb 4, 2026Q1 FY26 | $0.38 | $0.38 | 0.0% | $209.8M | $207.0M | −1.3% | −5.21% |
| Nov 18, 2025Q4 FY25 | $0.39 | $0.39 | −0.3% | $221.7M | $184.4M | −16.8% | −0.22% |
Financial highlights
| 12 quarters | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $192.3M | $205.7M | $172.3M | $207.0M | $176.4M | $159.5M | |
| Gross profit | $152.4M | $165.1M | $104.4M | $167.4M | $136.9M | $123.4M | |
| Operating income | $147.0M | $159.3M | $96.1M | $162.1M | $17.3M | $121.1M | |
| Net income | $79.0M | $90.1M | $96.3M | $65.3M | −$46.8M | $31.9M | |
| Diluted EPS | $0.30 | $0.34 | $0.36 | $0.25 | −$0.18 | $0.12 | |
| Gross margin | 79.2% | 80.2% | 60.6% | 80.9% | 77.6% | 77.3% | |
| Operating margin | 76.4% | 77.4% | 55.8% | 78.3% | 9.8% | 75.9% |
Fiscal years (4-quarter sums)FY21 $415.2M · FY22 $346.3M · FY23 $572.5M · FY24 $583.4M · FY25 $809.2M
Balance sheet, Jun 30, 2026Cash & short-term investments $13.0M · Total debt $4.54B · Total assets $8.34B · Shareholders' equity $3.70B
Dividends
Raised for 5 straight years. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 15, 2026 | Jun 15 | Jun 29 | $0.33 | |
| Mar 13, 2026 | Mar 13 | Mar 30 | $0.33 | cut from $0.39 |
| Dec 12, 2025 | Dec 12 | Dec 30 | $0.39 | |
| Sep 15, 2025 | Sep 15 | Sep 29 | $0.39 | |
| Jun 13, 2025 | Jun 13 | Jun 27 | $0.39 | |
| Mar 3, 2025 | Mar 3 | Mar 28 | $0.39 | |
| Dec 9, 2024 | Dec 9 | Dec 27 | $0.39 | |
| Nov 29, 2024 | Nov 29 | Dec 13 | $0.09 | special dividend |
Ownership
Shares outstanding 260.50M · Float 257.10M · 98.7% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| STRS Ohio | 17.58M | 6.75% | 13F | Jul 30, 2026 |
| Hightower Advisors, LLC | 7.35M | 2.82% | 13F | Aug 5, 2026 |
| Van Eck Associates Corp | 4.71M | 1.81% | 13F | Aug 14, 2026 |
| Sound Income Strategies, LLC | 3.88M | 1.49% | 13F | Jul 20, 2026 |
| UBS Group AG | 3.85M | 1.48% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 7, 2026 | David Golub | director, officer: Chairman & CEO | −1,676,387 | $13.06 |
| Aug 7, 2026 | Lawrence E. Golub | director | −1,676,387 | $13.06 |
Peers
- Ares Capital
Direct lender to private U.S. middle-market companies
- Blue Owl Capital
Direct-lending BDC focused on U.S. middle-market borrowers
- Blackstone Secured Lending Fund
First-lien lending BDC for private U.S. companies
- FS KKR Capital
Customized credit solutions for private U.S. middle-market companies
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Golub Capital BDC | $13.03 | +0.04% | $3.39B | 23.7 | 10.1 | 4.7 | −14.2% |
| Ares Capital | $19.97 | +0.15% | $14.32B | 14.8 | 10.3 | 6.2 | +32.6% |
| Blue Owl Capital | $11.37 | +0.64% | $5.61B | 20.2 | 8.8 | 4.0 | −20.8% |
| Blackstone Secured Lending Fund | $24.83 | +0.35% | $5.76B | 19.6 | 9.5 | 5.4 | +25.9% |
| FS KKR Capital | $12.22 | −0.41% | $3.43B | — | 7.8 | 3.6 | +11.5% |
| Median | 19.6 | 9.2 | 4.7 | +18.7% |