What is Golub Cap Bdc Inc's earnings per share (EPS)?

Golub Cap Bdc Inc (GBDC) reported diluted earnings per share of $1.42 for fiscal year 2025. This represents a 4.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Golub Cap Bdc Inc Financials

GBDC

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE September

This page shows Golub Cap Bdc Inc (GBDC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI GBDC FY2025 2026-05-04

Balance-sheet expansion rather than retained earnings appears to power this company, with distributed profits and leverage held near 1.2x.

The big FY2024 jump in assets from $5.7B to $8.7B came alongside equity rising from $2.5B to $4.0B and shares outstanding jumping from 169.6M to 264.3M, while retained earnings stayed negative and dividends consumed most profits across FY2024-FY2025. That combination implies the company mainly enlarged its earning-asset base through fresh capital and borrowing, not by stockpiling earnings.

FY2025 shows a notable profit-to-cash gap: net income rose to $376.6M and ROE recovered to 9.5%, but operating cash flow fell to -$113.6M and cash dropped to $11.9M. That usually means capital was being pushed into assets faster than accounting income arrived as cash.

Funding costs kept climbing — interest expense moved from $150.6M in FY2023 to $290.6M in FY2025 — yet asset profitability improved, with ROA rising from 3.2% to 4.2%. So the larger balance sheet appears to be earning enough to absorb higher borrowing costs, even without building a large cash cushion.

Financial Health Signals

Financial Profile 18/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Golub Cap Bdc Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Leverage

Golub Cap Bdc Inc carries a low D/E ratio of 1.23, meaning only $1.23 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 77/100, indicating a strong balance sheet with room for future borrowing.

Returns

Golub Cap Bdc Inc's ROE of 9.5% shows moderate profitability relative to equity, earning a score of 31/100. This is up from 6.8% the prior year.

Piotroski F-Score Weak

2/9

Golub Cap Bdc Inc passes 2 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Low Quality

-0.30x

For every $1 of reported earnings, Golub Cap Bdc Inc generates $-0.30 in operating cash flow (-$113.6M OCF vs $376.6M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

N/A

EBITDA

N/A

Net Income

$376.6M

YoY+37.6%

5Y CAGR+47.0%

Golub Cap Bdc Inc reported $376.6M in net income in fiscal year 2025. This represents an increase of 37.6% from the prior year.

EPS (Diluted)

$1.42

YoY+4.4%

5Y CAGR+30.9%

Golub Cap Bdc Inc earned $1.42 per diluted share (EPS) in fiscal year 2025. This represents an increase of 4.4% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$11.9M

YoY-90.3%

5Y CAGR-42.2%

Golub Cap Bdc Inc held $11.9M in cash against $4.9B in long-term debt as of fiscal year 2025.

Dividends Per Share

$1.65

YoY-12.7%

5Y CAGR+3.8%

Golub Cap Bdc Inc paid $1.65 per share in dividends in fiscal year 2025. This represents a decrease of 12.7% from the prior year.

Shares Outstanding

266M

YoY+0.7%

5Y CAGR+9.7%

Golub Cap Bdc Inc had 266M shares outstanding in fiscal year 2025. This represents an increase of 0.7% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

9.5%

YoY+2.6pp

5Y CAGR+7.2pp

Golub Cap Bdc Inc's ROE was 9.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 2.6 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$40.6M

YoY+744.9%

5Y CAGR-2.3%

Golub Cap Bdc Inc spent $40.6M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 744.9% from the prior year.

Capital Expenditures

N/A

GBDC Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$1.9M+29.6%	$1.5M-1.3%	$1.5M-12.7%	$1.7M+20.9%	$1.4M+18.8%	$1.2M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$290.6M+36.8%	$212.4M+41.0%	$150.6M+68.5%	$89.4M+36.0%	$65.7M-12.2%	$74.9M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	$376.6M+37.6%	$273.8M+5.9%	$258.6M+68.6%	$153.4M-54.9%	$340.3M+520.1%	$54.9M
EPS (Diluted)	$1.42+4.4%	$1.36-10.5%	$1.52+68.9%	$0.90-55.7%	$2.03+448.6%	$0.37

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$73K	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$375K-5.8%	$398K	N/A	$475K+16.4%	$408K-27.3%	$561K	N/A	$370K
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$61.1M-7.9%	$66.3M	N/A	$70.7M+1.1%	$69.9M-12.2%	$79.6M	N/A	$60.1M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$46.8M-171.7%	$65.2M	N/A	$90.1M+14.0%	$79.0M-29.0%	$111.3M	N/A	$9.3M
EPS (Diluted)	$-0.18-172.0%	$0.25	N/A	$0.34+13.3%	$0.30-28.6%	$0.42	N/A	$0.05

GBDC Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$9.0B+3.2%	$8.7B+51.8%	$5.7B+0.9%	$5.7B+10.0%	$5.2B	N/A
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$11.9M-90.3%	$123.1M+87.6%	$65.6M-44.1%	$117.3M-33.2%	$175.6M-4.8%	$184.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$5.0B+6.5%	$4.7B+47.2%	$3.2B+1.6%	$3.1B+21.5%	$2.6B	N/A
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$4.9B+6.6%	$4.6B+47.5%	$3.1B+1.3%	$3.1B+20.6%	$2.6B	N/A
Total Equity	$4.0B-0.8%	$4.0B+57.6%	$2.5B+0.1%	$2.5B-1.5%	$2.6B+7.8%	$2.4B
Retained Earnings	-$48.8M+68.1%	-$153.0M-54.2%	-$99.2M+25.0%	-$132.3M-61.9%	-$81.7M	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$8.5B-4.1%	$8.9B-0.9%	$9.0B-2.8%	$9.2B+3.2%	$8.9B-0.7%	$9.0B+3.5%	$8.7B+2.7%	$8.5B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$135.2M-15.8%	$160.5M+1245.1%	$11.9M-87.0%	$91.9M-10.9%	$103.1M-0.4%	$103.5M-15.9%	$123.1M-12.8%	$141.2M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$4.8B-4.1%	$5.0B-0.2%	$5.0B-4.7%	$5.2B+6.8%	$4.9B-1.7%	$5.0B+6.4%	$4.7B+6.0%	$4.4B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$4.7B-3.6%	$4.9B-0.4%	$4.9B-4.4%	$5.1B+6.7%	$4.8B-1.7%	$4.9B+6.3%	$4.6B+6.6%	$4.3B
Total Equity	$3.7B-4.1%	$3.9B-1.8%	$4.0B-0.3%	$4.0B-1.2%	$4.0B+0.6%	$4.0B+0.1%	$4.0B-1.0%	$4.1B
Retained Earnings	-$219.6M-154.3%	-$86.3M-76.8%	-$48.8M+76.5%	-$207.9M-7.1%	-$194.0M-15.1%	-$168.5M-10.2%	-$153.0M+6.8%	-$164.1M

GBDC Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$113.6M-133.0%	$343.9M+76.0%	$195.4M+146.9%	-$416.5M-36.1%	-$306.0M-263.1%	$187.7M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	-$131.6M-5.9%	-$124.2M+47.3%	-$235.5M-166.7%	$353.1M-3.7%	$366.9M+517.8%	-$87.8M
Dividends Paid	$368.2M+8.9%	$338.2M+76.6%	$191.5M+23.4%	$155.2M+11.6%	$139.1M+2.0%	$136.4M
Share Buybacks	$40.6M+744.9%	$4.8M-71.5%	$16.9M	$0	$0-100.0%	$45.5M

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	$248.8M+17.3%	$212.0M-20.3%	$266.1M+232.8%	-$200.4M-202.5%	$195.4M+152.2%	-$374.7M-87.3%	-$200.0M-186.6%	$230.9M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	-$273.9M-67.0%	-$164.0M+50.6%	-$332.3M-350.5%	$132.7M+178.0%	-$170.1M-171.4%	$238.1M+154.2%	$93.7M+141.3%	-$226.9M
Dividends Paid	$72.3M-14.4%	$84.5M-3.2%	$87.2M+4.7%	$83.3M-6.7%	$89.3M-17.5%	$108.3M-22.1%	$139.0M+83.9%	$75.6M
Share Buybacks	$27.8M-22.6%	$35.9M+595.2%	$5.2M-85.0%	$34.3M+2938.6%	$1.1M	$0-100.0%	$4.8M	$0

GBDC Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	9.5%+2.6pp	6.8%-3.3pp	10.2%+4.1pp	6.0%-7.2pp	13.2%+10.9pp	2.3%
Return on Assets	4.2%+1.1pp	3.1%-1.4pp	4.5%+1.8pp	2.7%-3.9pp	6.6%	N/A
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.23+0.1	1.15-0.1	1.22+0.0	1.21+0.2	0.99	N/A
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-64104.1%	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	-1.3%-2.9pp	1.7%	N/A	2.3%+0.3pp	1.9%-0.8pp	2.8%	N/A	0.2%
Return on Assets	-0.5%-1.3pp	0.7%	N/A	1.0%+0.1pp	0.9%-0.4pp	1.2%	N/A	0.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.250.0	1.25+0.0	1.23-0.1	1.28+0.1	1.19-0.0	1.22+0.1	1.15+0.1	1.06
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Similar Companies

Fs Kkr Cap Corp FSK

$3.1B

DNP Select Income DNP

$4.1B

Atlas Corporation ATCO

$4.5B

Alliancebernstein Hldg L P AB

$3.6B

Federated Hermes Inc FHI

$4.1B

Frequently Asked Questions

Is Golub Cap Bdc Inc profitable?

Yes, Golub Cap Bdc Inc (GBDC) reported a net income of $376.6M in fiscal year 2025.

How much debt does Golub Cap Bdc Inc have?

As of fiscal year 2025, Golub Cap Bdc Inc (GBDC) had $11.9M in cash and equivalents against $4.9B in long-term debt.

Does Golub Cap Bdc Inc pay dividends?

Yes, Golub Cap Bdc Inc (GBDC) paid $1.65 per share in dividends during fiscal year 2025.

What is Golub Cap Bdc Inc's return on equity (ROE)?

Golub Cap Bdc Inc (GBDC) has a return on equity of 9.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Golub Cap Bdc Inc's operating cash flow?

Golub Cap Bdc Inc (GBDC) generated -$113.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Golub Cap Bdc Inc's total assets?

Golub Cap Bdc Inc (GBDC) had $9.0B in total assets as of fiscal year 2025, including both current and long-term assets.

Does Golub Cap Bdc Inc buy back shares?

Yes, Golub Cap Bdc Inc (GBDC) spent $40.6M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Golub Cap Bdc Inc have outstanding?

Golub Cap Bdc Inc (GBDC) had 266M shares outstanding as of fiscal year 2025.

What is Golub Cap Bdc Inc's debt-to-equity ratio?

Golub Cap Bdc Inc (GBDC) had a debt-to-equity ratio of 1.23 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Golub Cap Bdc Inc's return on assets (ROA)?

Golub Cap Bdc Inc (GBDC) had a return on assets of 4.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Golub Cap Bdc Inc's cash runway?

Based on fiscal year 2025 data, Golub Cap Bdc Inc (GBDC) had $11.9M in cash against an annual operating cash burn of $113.6M. This gives an estimated cash runway of approximately 1 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Golub Cap Bdc Inc's Piotroski F-Score?

Golub Cap Bdc Inc (GBDC) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Golub Cap Bdc Inc's earnings high quality?

Golub Cap Bdc Inc (GBDC) has an earnings quality ratio of -0.30x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Golub Cap Bdc Inc?

Golub Cap Bdc Inc (GBDC) scores 18 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.