GBDC on Nasdaq

GOLUB CAPITAL BDC, Inc.

Corporation registered in the United States, active since 2009.

Price unavailable

Last updated Oct 18, 2026.

Overview

$376.6MNet income, fiscal 2025²

Compare with another stock.

TickerGBDC on Nasdaq
HeadquartersChicago, United States
Incorporated inDE³
Business address200 Park Avenue, 25Th Floor, New York, Ny 10166³
Filer categoryLarge accelerated filer³

See how the biggest companies compare on our leaderboards

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

9.5%Return on equity²

1.23×Debt to equity²

Financial statements

Net income⁴⁵⁶²$376.6M in 2025+586% since 2020

Every line of the income statement as filed: the last 3 fiscal years, latest first.²

Period ending	2025-09-30	2024-09-30	2023-09-30
Payment-in-kind interest income	$52.3M	$49.7M	$40.6M
Total investment income	$870.8M	$724.7M	$603.1M
Interest and other debt financing expenses	$290.6M	$212.4M	$150.6M
Base management fee	$87.9M	$62.5M	$70.8M
Incentive fee	$73.3M	$77.2M	$74.1M
Professional fees	$8.0M	$5.5M	$5.0M
Administrative service fee	$12.3M	$9.3M	$8.3M
General and administrative expenses	$1.9M	$1.5M	$1.5M
Total expenses	$474.0M	$368.4M	$310.3M
Net expenses	$474.0M	$341.0M	$310.3M
Net investment income - before tax	$396.8M	$383.6M	$292.8M
Excise and income tax	-$475.0K	$1.2M	$3.7M
Net investment income - after tax	$397.3M	$382.4M	$289.1M
Company investments	-$72.2M	-$81.6M	-$46.5M
Foreign currency transactions	-$4.3M	-$2.0M	-$328.0K
Forward currency contracts	$4.2M	$3.6M	$2.7M
Net realized gain (loss) on investment transactions	-$72.4M	-$79.9M	-$44.1M
Company investments	$50.6M	-$32.0M	$14.3M
Translation of assets and liabilities in foreign currencies	$9.2M	$21.7M	$16.7M
Net change in unrealized appreciation (depreciation) on investment transactions	$51.2M	-$29.4M	$13.6M
Net gain (loss) on investment transactions	-$21.1M	-$109.3M	-$30.6M
Net realized gain (loss) on extinguishment of debt	-$48.0K	$0	$0
(Provision) benefit for taxes on realized gain on investments	$0	$0	-$207.0K
(Provision) benefit for taxes on unrealized appreciation on investments	$563.0K	$620.0K	$308.0K
Net increase (decrease) in net assets resulting from operations	$376.6M	$273.8M	$258.6M
Basic earnings per common share (Note 10) (in dollars per share)	$1.42	$1.36	$1.52
Diluted earnings per common share (Note 10) (in dollars per share)	$1.42	$1.36	$1.52
Dividends and distributions declared per common share (in dollars per share)	$1.65	$1.89	$1.40
Basic weighted average common shares outstanding (Note 10) (in shares)	266.0M shares	201.3M shares	170.3M shares
Diluted weighted average common shares outstanding (Note 10) (in shares)	266.0M shares	201.3M shares	170.3M shares

Total assets⁴⁵⁶²$9.0B in 2025+74% since 2021

Total liabilities⁴⁵⁶²$5.0B in 2025+93% since 2021

Shareholders’ equity⁴⁵⁶²$4.0B in 2025+311% since 2018

Cash⁴⁵⁶²$11.9M in 2025−86% since 2019

Long-term debt⁴⁵⁶²$4.9B in 2025+92% since 2021

Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 13 quarters (quarterly), latest first.²

Period ending	2025-09-30	2025-06-30	2025-03-31	2025-02-28	2024-12-31
Investments, at fair value	$8.8B
Cash and cash equivalents	$11.9M
Foreign currencies (cost of $11,685 and $7,973, respectively)	$11.7M
Restricted cash and cash equivalents	$88.8M
Restricted foreign currencies (cost of $0 and $1,219, respectively)	$0
Interest receivable	$68.0M
Receivable for investments	$7.3M
Net unrealized appreciation on derivatives	$12.1M
Other assets	$9.0M
Total Assets	$9.0B
Debt	$4.9B
Less unamortized debt issuance costs	-$26.0M
Debt less unamortized debt issuance costs	$4.9B
Net unrealized depreciation on derivatives	$5.0M
Interest payable	$38.3M
Management and income incentive fees payable	$40.9M
Accrued trustee fees	$1.0M
Accounts payable and other liabilities	$9.8M
Total Liabilities	$5.0B
Preferred stock, par value $0.001 per share, 1,000,000 shares authorized, zero shares issued and outstanding as of September 30, 2025 and September 30, 2024	$0
Common stock, par value $0.001 per share, 500,000,000 shares authorized, 266,008,083 shares issued and outstanding as of September 30, 2025; 350,000,000 shares authorized, 264,277,128 shares issued and outstanding as of September 30, 2024	$266.0K
Paid in capital in excess of par	$4.0B
Distributable earnings (losses)	-$48.8M
Total Net Assets	$4.0B
Total Liabilities and Total Net Assets	$9.0B
Number of common shares outstanding (in shares)	266.0M shares
Net asset value per common share (in dollars per share)	$14.97	$15.00	$15.04		$15.13
Amortized cost	$8.8B
Preferred stock, par value (in dollars per share)	$0.00			$0.00
Preferred stock, shares authorized (in shares)	1.0M shares			1.0M shares
Preferred stock, shares issued (in shares)	0 shares
Preferred stock, shares outstanding (in shares)	0 shares
Common stock, par value (in dollars per share)	$0.00			$0.00
Common stock, shares authorized (in shares)	500.0M shares			500.0M shares
Common stock, shares issued (in shares)	266.0M shares

Period ending	2025-09-30	2025-06-30	2025-03-31	2025-02-28	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2022-09-30	2021-09-30	2020-09-30
Investments, at fair value	$8.8B					$8.2B
Cash and cash equivalents	$11.9M					$123.1M
Foreign currencies (cost of $11,685 and $7,973, respectively)	$11.7M					$8.0M
Restricted cash and cash equivalents	$88.8M					$227.2M
Restricted foreign currencies (cost of $0 and $1,219, respectively)	$0					$1.2M
Interest receivable	$68.0M					$74.0M
Receivable for investments	$7.3M					$3.5M
Net unrealized appreciation on derivatives	$12.1M					$29.5M
Other assets	$9.0M					$1.7M
Total Assets	$9.0B					$8.7B
Debt	$4.9B					$4.6B
Less unamortized debt issuance costs	-$26.0M					-$25.4M
Debt less unamortized debt issuance costs	$4.9B					$4.6B
Net unrealized depreciation on derivatives	$5.0M					$0
Interest payable	$38.3M					$45.7M
Management and income incentive fees payable	$40.9M					$33.6M
Accrued trustee fees	$1.0M					$178.0K
Accounts payable and other liabilities	$9.8M					$10.3M
Total Liabilities	$5.0B					$4.7B
Preferred stock, par value $0.001 per share, 1,000,000 shares authorized, zero shares issued and outstanding as of September 30, 2025 and September 30, 2024	$0					$0
Common stock, par value $0.001 per share, 500,000,000 shares authorized, 266,008,083 shares issued and outstanding as of September 30, 2025; 350,000,000 shares authorized, 264,277,128 shares issued and outstanding as of September 30, 2024	$266.0K					$264.0K
Paid in capital in excess of par	$4.0B					$4.2B
Distributable earnings (losses)	-$48.8M					-$153.0M				-$99.2M
Total Net Assets	$4.0B					$4.0B				$2.5B	$2.5B	$2.6B
Total Liabilities and Total Net Assets	$9.0B					$8.7B
Number of common shares outstanding (in shares)	266.0M shares					264.3M shares				169.6M shares	170.9M shares	170.0M shares
Net asset value per common share (in dollars per share)	$14.97	$15.00	$15.04		$15.13	$15.19	$15.32	$15.12	$15.03	$15.02	$14.89	$15.19	$14.33
Amortized cost	$8.8B					$8.3B
Preferred stock, par value (in dollars per share)	$0.00			$0.00		$0.00
Preferred stock, shares authorized (in shares)	1.0M shares			1.0M shares		1.0M shares
Preferred stock, shares issued (in shares)	0 shares					0 shares
Preferred stock, shares outstanding (in shares)	0 shares					0 shares
Common stock, par value (in dollars per share)	$0.00			$0.00		$0.00				$0.00
Common stock, shares authorized (in shares)	500.0M shares			500.0M shares		350.0M shares
Common stock, shares issued (in shares)	266.0M shares					264.3M shares

Cash from operations⁴⁵⁶²-$113.6M in 2025

Dividends paid⁴⁵⁶²$368.2M in 2025+170% since 2020

Share buybacks⁴⁵⁶²$40.6M in 2025−11% since 2020

Every line of the cash flow as filed: the last 3 fiscal years, latest first.²

Period ending	2025-09-30	2024-09-30	2023-09-30
Net increase (decrease) in net assets resulting from operations	$376.6M	$273.8M	$258.6M
Amortization of deferred debt issuance costs	$10.0M	$9.2M	$7.4M
Accretion of discounts and amortization of premiums on investments	-$8.9M	-$10.4M	-$12.9M
Accretion of discounts and amortization of premiums on issued debt securities	$3.3M	$2.1M	$424.0K
Net realized (gain) loss on investments	$72.2M	$81.6M	$46.5M
Net realized (gain) loss on foreign currency transactions	$4.3M	$2.0M	$328.0K
Net realized (gain) loss on forward currency contracts	-$4.2M	-$3.6M	-$2.7M
Net realized (gain) loss on extinguishment of debt	$48.0K	$0	$0
Net change in unrealized (appreciation) depreciation on investments	-$50.6M	$32.0M	-$14.3M
Net change in unrealized (appreciation) depreciation on translation of assets and liabilities in foreign currencies	-$9.2M	-$21.7M	-$16.7M
Proceeds from (fundings of) revolving loans, net	-$6.3M	-$2.6M	-$381.0K
Fundings of investments	-$2.0B	-$1.3B	-$675.3M
Proceeds from principal payments and sales of portfolio investments	$1.5B	$1.3B	$670.2M
Proceeds from settlements of forward currency contracts	$6.2M	$7.9M	$2.7M
Payment-in-kind interest capitalized	-$55.4M	-$52.6M	-$38.8M
Non-cash dividends capitalized	-$30.7M	-$21.3M	-$14.9M
Proceeds from non-cash dividends	$6.4M	$47.0K	$10.0K
Cash acquired in GBDC 3 Merger	$0	$53.9M	$0
Cash collateral held at broker for derivatives	-$4.2M	-$650.0K	$0
Interest receivable	$6.0M	$16.2M	-$37.3M
Receivable for investments	-$3.7M	$8.9M	$0
Other assets	-$3.1M	-$4.7M	-$2.5M
Interest payable	-$7.4M	$8.3M	$4.4M
Management and income incentive fees payable	$7.3M	-$10.6M	$1.8M
Accrued trustee fees	$861.0K	-$161.0K	$106.0K
Accounts payable and other liabilities	-$540.0K	-$1.3M	$1.2M
Net cash provided by (used in) operating activities	-$113.6M	$343.9M	$195.4M
Borrowings on debt	$4.8B	$2.9B	$652.6M
Repayments of debt	-$4.5B	-$2.7B	-$627.1M
Capitalized debt issuance costs	-$10.6M	-$19.0M	-$5.8M
Net proceeds from issuance of common stock (Note 13)	$37.4M	$0	$0
Purchases of common stock (Note 13)	-$40.6M	-$4.8M	-$16.9M
Distributions paid	-$368.2M	-$338.2M	-$191.5M
Purchases of common stock for dividend reinvestment plan	-$37.2M	$0	-$46.9M
Net cash provided by (used in) financing activities	-$131.6M	-$124.2M	-$235.5M
Net change in cash and cash equivalents, foreign currencies, restricted cash and cash equivalents and restricted foreign currencies	-$245.2M	$219.7M	-$40.2M
Effect of foreign currency exchange rates	-$1.9M	-$331.0K	-$171.0K
Cash paid during the period for interest	$280.2M	$180.1M	$138.4M
Stock issued in connection with dividend reinvestment plan	$33.7M	$44.3M	$0
Investments, at cost	$0	$2.6B	$0
Interest receivable	$0	$32.2M	$0
Unrealized appreciation on forward currency contracts	$0	$6.3M	$0
Receivable for investments sold	$0	$8.9M	$0
Other assets	$0	$154.0K	$0
Total noncash assets purchased	$0	$2.7B	$0
Debt	$0	$1.2B	$0
Interest payable	$0	$12.7M	$0
Distributions payable	$0	$9.5M	$0
Management and income incentive fees payable	$0	$8.9M	$0
Accrued trustee fees	$0	$8.0K
Accounts payable and other liabilities	$0	$4.0M	$0
Total liabilities assumed	$0	$1.2B	$0
Issuance of common stock	$0	$1.5B	$0
Merger costs capitalized into purchase price	$0	$3.9M	$0
Foreign currencies, cost	$11.7M	$8.0M
Restricted foreign currencies, cost	$0	$1.2M

Compare GOLUB CAPITAL BDC, Inc. with another company

Leadership

Who has led GOLUB CAPITAL BDC, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

David Golub2010–now

Chair

Chief financial officer

201520202025

Chief executive officerDavid Golub Apr 14, 2010 to now¹⁰
ChairDavid Golub Aug 11, 2026 to now¹¹
ChairLawrence E. Golub Apr 14, 2010 to Aug 11, 2026¹²
Chief financial officerSean K. Coleman Apr 14, 2010 to Apr 22, 2010¹³
Chief financial officerRoss Teune Dec 16, 2010 to Mar 16, 2021¹⁴

Board members and other officers (11)

Chief Compliance OfficerWu Kwan Kit May 5, 2025 to now¹⁵
Chief Fin. Officer & TreasurerChristopher Compton Ericson Sep 17, 2021 to Sep 17, 2021¹⁶
Chief Compliance OfficerJoshua M. Levinson Aug 9, 2011 to now¹⁷
Board memberLawrence E. Golub Aug 11, 2026 to now¹⁸
Board memberLofton Phillip Holder Jr. Aug 30, 2021 to Aug 30, 2021¹⁹
Board memberAnita R. Rosenberg Jun 1, 2011 to Dec 6, 2024²⁰
Board memberDavid Golub Apr 14, 2010 to now¹⁰
Board memberKenneth F. Bernstein Apr 14, 2010 to May 16, 2011²¹
Board memberThomas E. Lynch Apr 14, 2010 to Apr 22, 2010²²
Board memberWilliam M. Webster Iv. Apr 14, 2010 to Dec 23, 2024²³
Board memberJohn Thomas Baily May 17, 2010 to Sep 13, 2024²⁴

Former names

GOLUB CAPITAL INVESTMENT CorpJun 2, 2017 to Jun 2, 2017³
Golub Capital BDC LLCNov 20, 2009 to Apr 14, 2010³

Timeline

Apr 14, 2010New chief executive David Golub becomes CEO¹⁰
Nov 9, 2009Founded GOLUB CAPITAL BDC, Inc. is founded²⁵

Filings

275 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 119 major events, 37 insider forms, 7 large holders, 92 other. The latest 20:

Oct 6, 20268-K EDGAR
Sep 10, 202640-17G EDGAR
Aug 11, 20268-K EDGAR
Aug 11, 20264 EDGAR
Aug 11, 20264 EDGAR
Aug 3, 202610-Q EDGAR
Aug 3, 20268-K EDGAR
Aug 3, 20268-K EDGAR
Jul 9, 20268-K EDGAR
Jul 7, 20268-K EDGAR
May 27, 20268-K EDGAR
May 20, 20268-K EDGAR
May 20, 2026424B2 EDGAR
May 19, 2026497AD EDGAR
May 19, 2026497AD EDGAR
May 19, 2026497AD EDGAR
May 19, 2026FWP FREE WRITING PROSPECTUS EDGAR
May 19, 2026424B2 EDGAR
May 4, 202610-Q EDGAR
May 4, 20268-K EDGAR

The 275 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 7 such filings since October 2021:

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

Fund	Shares	Value	Share of the fund	Change
Strs Ohio	17,576,643	$226.4M	0.8%	+436,111
HighTower Advisors, LLC	7,345,885	$94.6M	0.1%	+299,240
Van Eck Associates Corp	4,710,275	$60.7M	0.0%	+466,249
Sound Income Strategies, LLC	3,876,087	$49.9M	2.2%	+125,554
UBS Group AG	3,849,396	$49.6M	0.0%	−207,971
Sage Mountain Advisors LLC	3,829,164	$49.3M	3.0%	+72,893
OMERS ADMINISTRATION Corp	3,650,215	$47.0M	0.3%	+90,569
Bank Of America Corp /de/	3,392,551	$43.7M	0.0%	+122,634
Jpmorgan Chase & Co	3,384,088	$43.2M	0.0%	−132,158
Ares Management LLC	3,357,115	$43.2M	2.0%	+298,759
Allen Investment Management, LLC	3,174,058	$40.9M	0.5%	−191,842
Corient Private Wealth LP	3,162,346	$40.7M	0.1%	−1,365,434
Rockefeller Capital Management L.P.	2,799,784	$36.1M	0.1%	−3,084
Generali Asset Management SPA SGR	2,630,739	$33.9M	0.6%	No change
Lalia Capital, LLC	2,605,281	$33.6M	16.3%	+63,355
Legal & General Group Plc	2,443,383	$31.5M	0.0%	+204,724
Morgan Stanley	2,354,219	$30.3M	0.0%	+376,873
Muzinich & Co., Inc.	2,055,071	$26.5M	9.0%	+69,583
Russell Investments Group, Ltd.	1,765,242	$22.7M	0.0%	+482,424
Franklin Resources Inc	1,652,518	$21.3M	0.0%	+505,131
Sumitomo Mitsui Trust Group, Inc.	1,552,650	$20.0M	0.0%	+38,106
Arnhold LLC	1,537,089	$19.8M	1.4%	No change
Ensign Peak Advisors, Inc	1,289,976	$16.6M	0.0%	New
BlackRock, Inc.	1,258,215	$16.2M	0.0%	+64,391
MAI Capital Management	1,235,407	$15.9M	0.1%	+14,669

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

5 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

Date	Member	Trade	Amount	Vs S&P since	Filing
Jun 30, 2023	David P. JoyceRepublican, House	Partial sale	$1,001 - $15,000	+83.2%	Report
Jun 19, 2023	David P. JoyceRepublican, House	Partial sale	$15,001 - $50,000	+85.1%	Report
Jul 14, 2022	David P. JoyceRepublican, House	Sale	$15,001 - $50,000	+113.3%	Report
Jul 12, 2022	David P. JoyceRepublican, House	Sale	$15,001 - $50,000	+111.9%	Report
Jan 20, 2021	Teresa Leger FernandezDemocratic, House	Sale	$15,001 - $50,000	+117.1%	Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGARGOLUB CAPITAL BDC, Inc. filings on SEC EDGAR
2
SEC EDGARGOLUB CAPITAL BDC, Inc. 10-K for fiscal 2025
3
SEC EDGARGOLUB CAPITAL BDC, Inc. filings on SEC EDGAR
4
SEC EDGARGOLUB CAPITAL BDC, Inc. 10-K for fiscal 2020
5
SEC EDGARGOLUB CAPITAL BDC, Inc. 10-K for fiscal 2021
6
SEC EDGARGOLUB CAPITAL BDC, Inc. 10-K for fiscal 2022
7
SEC EDGARGOLUB CAPITAL BDC, Inc. 10-Q for fiscal 2025
8
SEC EDGARGOLUB CAPITAL BDC, Inc. 10-Q for fiscal 2026
9
SEC EDGARGOLUB CAPITAL BDC, Inc. 10-Q for fiscal 2026
10
SEC EDGARDavid Golub, Chief executive officer
11
SEC EDGARDavid Golub, Chair
12
SEC EDGARLawrence E. Golub, Chair
13
SEC EDGARSean K. Coleman, Chief financial officer
14
SEC EDGARRoss Teune, Chief financial officer
15
SEC EDGARWu Kwan Kit, Chief Compliance Officer
16
SEC EDGARChristopher Compton Ericson, Chief Fin. Officer & Treasurer
17
SEC EDGARJoshua M. Levinson, Chief Compliance Officer
18
SEC EDGARLawrence E. Golub, Board member
19
SEC EDGARLofton Phillip Holder Jr., Board member
20
SEC EDGARAnita R. Rosenberg, Board member
21
SEC EDGARKenneth F. Bernstein, Board member
22
SEC EDGARThomas E. Lynch, Board member
23
SEC EDGARWilliam M. Webster Iv., Board member
24
SEC EDGARJohn Thomas Baily, Board member
25
gleifGOLUB CAPITAL BDC, Inc. is founded