Valuation, from the filing
| Public float | $3.92B | Market value of stock held by non-affiliates, as stated on the cover page for 2025-03-31 |
|---|---|---|
| Float per share | $14.89 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / net income | 10.4× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 1.0× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-03-31, not today, and each multiple below it uses the figures for the fiscal year ending 2025-09-30 — the year that filing covered.
Valuation over time
10.4× earnings today, against a median of 10.3× across 4 years on record. In line with its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2025-03-31 | $3.92B | 10.4× | |
| 2024-03-31 | $2.77B | 10.1× | |
| 2023-03-31 | $2.24B | 8.7× | |
| 2022-03-31 | $2.53B | 16.5× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
How this compares in its industry
Percentile among the industry filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
| Measure | Reported | Percentile | |
|---|---|---|---|
| Long-term debt / equity | 1.23x | 47th |
GOLUB CAPITAL BDC, Inc. (GBDC) reported net income of $376.65M for the fiscal year ended 2025-09-30. This page shows 6 annual periods of income statement, balance sheet and cash flow figures normalized from GOLUB CAPITAL BDC, Inc.’s SEC filings, each linked to the filing it came from.
Income
| Metric | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 |
|---|---|---|---|---|---|---|
| Revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Cost of revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross profit | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating income | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Net income | $376.65M | $273.78M | $258.63M | $153.44M | $340.28M | $54.87M |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Weighted-average diluted shares | shares 266.00M | shares 201.26M | shares 170.32M | shares 170.67M | shares 167.99M | shares 148.91M |
| Pretax income | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Income tax expense | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Diluted EPS | $1.42 | $1.36 | $1.52 | $0.90 | $2.03 | $0.37 |
| Selling, general & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| General & administrative | $1.92M | $1.48M | $1.50M | $1.72M | $1.42M | $1.20M |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $11.94M | $123.12M | $65.62M | $117.29M | $175.59M | Unavailable |
| Total assets | $8.98B | $8.70B | $5.73B | $5.68B | $5.16B | Unavailable |
| Current assets | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total liabilities | $5.00B | $4.69B | $3.19B | $3.14B | $2.58B | Unavailable |
| Current liabilities | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Total equity incl. NCI | $3.98B | $4.01B | $2.55B | $2.54B | $2.58B | $2.40B |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts receivable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Goodwill | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Long-term debt | $4.90B | $4.60B | $3.12B | $3.08B | $2.55B | Unavailable |
| Accounts payable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Cash flow
| Metric | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$113.59M | $343.91M | $195.37M | -$416.46M | -$306.05M | $187.68M |
| Capital expenditures | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Investing cash flow | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Financing cash flow | -$131.59M | -$124.24M | -$235.55M | $353.13M | $366.85M | -$87.81M |
| Net change in cash | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Stock-based compensation | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Common dividends paid | $368.21M | $338.19M | $191.46M | $155.21M | $139.12M | $136.43M |
| Common share repurchases | $40.63M | $4.81M | $16.86M | $0 | $0 | $45.53M |
| Depreciation & amortization | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Derived
| Metric | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 |
|---|---|---|---|---|---|---|
| Free cash flow | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Gross margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Operating margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| FCF margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| SBC / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Current ratio | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Revenue YoY growth | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Net margin | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| CapEx / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Long-term debt / equity | 1.23x | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open GBDC in the interactive workspace to inspect any figure back to its filing.
Source filings
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.