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

FY2025 annual

Revenue Not reported for FY2025

Net Income $376.6M +37.6% YoY

EPS (Diluted) $1.42 +4.4% YoY

Free Cash Flow Not reported for FY2025

Source SEC Filings (10-K/10-Q) Latest period Q3 FY2026, ended Jun 30, 2026 Reported Aug 3, 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 health score not available

Golub Cap Bdc Inc does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

3/6

Golub Cap Bdc Inc passes 3 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.

Earnings Quality No Cash Backing

$0.30used

For every $1 of reported earnings, Golub Cap Bdc Inc used $0.30 of operating cash (-$113.6M OCF vs $376.6M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.

Key Financial Metrics

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Earnings & Revenue

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.

Revenue

Not reported for fiscal year 2025.

EBITDA

Not reported for fiscal year 2025.

Cash & Balance Sheet

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

263M

YoY-0.3%

5Y CAGR+9.5%

Golub Cap Bdc Inc had 263M shares outstanding in fiscal year 2025. This represents a decrease of 0.3% from the prior year.

Free Cash Flow

Not reported for fiscal year 2025.

Margins & Returns

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.

Gross Margin

Not reported for fiscal year 2025.

Operating Margin

Not reported for fiscal year 2025.

Net Margin

Not reported for fiscal year 2025.

Capital Allocation

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.

R&D Spending

Not reported for fiscal year 2025.

Capital Expenditures

Not reported for fiscal year 2025.

GBDC Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

GBDC quarterly income statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20
SG&A Expenses	N/A	$1.9M+29.6%	$1.5M-1.3%	$1.5M-12.7%	$1.7M+20.9%	$1.4M+18.8%	$1.2M
Interest Expense	N/A	$290.6M+36.8%	$212.4M+41.0%	$150.6M+68.5%	$89.4M+36.0%	$65.7M-12.2%	$74.9M
Net Income	N/A	$376.6M+37.6%	$273.8M+5.9%	$258.6M+68.6%	$153.4M-54.9%	$340.3M+520.1%	$54.9M
EPS (Diluted)	$0.66	$1.42+4.4%	$1.36-10.5%	$1.52+68.9%	$0.90-55.7%	$2.03+448.6%	$0.37

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
SG&A Expenses	$372K-0.8%	$375K-5.8%	$398K	N/A	$475K+16.4%	$408K-27.3%	$561K	N/A
Interest Expense	$61.0M-0.1%	$61.1M-7.9%	$66.3M	N/A	$70.7M+1.1%	$69.9M-12.2%	$79.6M	N/A
Net Income	$57.0M+221.8%	-$46.8M-171.7%	$65.2M	N/A	$90.1M+14.0%	$79.0M-29.0%	$111.3M	N/A
EPS (Diluted)	$0.22+222.2%	-$0.18-172.0%	$0.25-32.4%	$0.37+8.8%	$0.34+13.3%	$0.30-28.6%	$0.42+13.5%	$0.37

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, Income Tax.

GBDC Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

GBDC quarterly 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
Cash & Equivalents	$11.9M-90.3%	$123.1M+87.6%	$65.6M-44.1%	$117.3M-33.2%	$175.6M-4.8%	$184.4M
Total Liabilities	$5.0B+6.5%	$4.7B+47.2%	$3.2B+1.6%	$3.1B+21.5%	$2.6B	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	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Total Assets	$8.3B-2.2%	$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
Cash & Equivalents	$70.7M-47.7%	$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
Total Liabilities	$4.6B-3.1%	$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
Long-Term Debt	$4.5B-3.5%	$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
Total Equity	$3.7B-1.2%	$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
Retained Earnings	-$248.4M-13.2%	-$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

Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities.

GBDC Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

GBDC quarterly cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$919.6M	-$113.6M-133.0%	$343.9M+76.0%	$195.4M+146.9%	-$416.5M-36.1%	-$306.0M-263.1%	$187.7M
Financing Cash Flow	-$1.0B	-$131.6M-5.9%	-$124.2M+47.3%	-$235.5M-166.7%	$353.1M-3.7%	$366.9M+517.8%	-$87.8M
Dividends Paid	$314.9M	$368.2M+8.9%	$338.2M+76.6%	$191.5M+23.4%	$155.2M+11.6%	$139.1M+2.0%	$136.4M
Share Buybacks	$83.2M	$40.6M+744.9%	$4.8M-71.5%	$16.9M	$0	$0-100.0%	$45.5M

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Operating Cash Flow	$192.7M-22.5%	$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
Financing Cash Flow	-$256.0M+6.6%	-$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
Dividends Paid	$70.8M-2.1%	$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
Share Buybacks	$14.4M-48.3%	$27.8M-22.6%	$35.9M+595.2%	$5.2M-85.0%	$34.3M+2938.6%	$1.1M	$0-100.0%	$4.8M

Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow, Investing Cash Flow.

GBDC Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

GBDC quarterly financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
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
Debt-to-Equity	1.23+0.1x	1.15-0.1x	1.220.0x	1.21+0.2x	0.99	N/A

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24
Return on Equity	1.5%+2.8pp	-1.3%-2.9pp	1.7%	N/A	2.3%+0.3pp	1.9%-0.8pp	2.8%	N/A
Return on Assets	0.7%+1.2pp	-0.5%-1.3pp	0.7%	N/A	1.0%+0.1pp	0.9%-0.4pp	1.2%	N/A
Debt-to-Equity	1.220.0x	1.250.0x	1.250.0x	1.23-0.1x	1.28+0.1x	1.190.0x	1.22+0.1x	1.15

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Current Ratio, FCF Margin.

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Where Golub Cap Bdc Inc Ranks

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) recorded an outflow of $113.6M in operating cash flow during fiscal year 2025, representing cash used by 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 263M 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 Piotroski F-Score?

Golub Cap Bdc Inc (GBDC) has a Piotroski F-Score of 3 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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?

For every $1 of reported earnings, Golub Cap Bdc Inc (GBDC) used $0.30 of operating cash (-$113.6M OCF vs $376.6M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. 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.