Company Valuation: Golub Capital BDC, Inc.

Data adjusted to current consolidation scope
Fiscal Period: September 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,674 2,117 2,488 3,998 3,647 3,243 - -
Change - -20.82% 17.5% 60.7% -8.79% -11.07% - -
Enterprise Value (EV) 2,674 2,117 2,488 3,998 3,647 3,243 3,243 3,243
Change - -20.82% 17.5% 60.7% -8.79% -11.07% 0% 0%
P/E 7.79x 13.8x 9.65x 11.2x 9.71x 20.2x 9.76x 10.3x
PBR 1.04x 0.83x - - - 0.88x 0.88x -
PEG - -0.2x 0.1x -1x 2.18x -0.4x 0x -2.03x
Capitalization / Revenue 8.71x 5.46x 4.13x 5.52x 4.19x 4.19x 4.37x 4.38x
EV / Revenue 0x 0x 0x 0x 0x 4.19x 4.37x 4.38x
EV / EBITDA - - - - - - - -
EV / EBIT 0x 0x 0x - 0x 9.26x 9.77x -
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 1.16 1.2 1.4 1.89 1.65 1.38 1.32 1.22
Rate of return 7.34% 9.69% 9.54% 12.5% 12.1% 11% 10.6% 9.77%
EPS 2 2.03 0.9 1.52 1.35 1.41 0.618 1.28 1.215
Distribution rate 57.1% 133% 92.1% 140% 117% 223% 103% 100%
Net sales 1 307.1 387.8 603.1 724.7 870.8 773.2 742.9 740.9
EBITDA - - - - - - - -
EBIT 1 233.4 285.6 443.4 - 397.3 350.1 331.8 -
Net income 1 340.3 153.4 258.6 273.8 376.6 161 314.3 316
Net Debt - - - - - - - -
Reference price 2 15.81 12.39 14.67 15.11 13.69 12.49 12.49 12.49
Nbr of stocks (in thousands) 169,152 170,896 169,595 264,609 266,376 259,652 - -
Announcement Date 11/29/21 11/21/22 11/20/23 11/19/24 11/18/25 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.21x - - 11.05% 3.24B
19.05x6.69x12.75x4.5% 91.64B
25x - - 0.84% 83.7B
20.21x5.76x16.01x4.59% 26.92B
11.36x4.65x9.11x5.44% 20.96B
16.46x1.86x6.69x4.04% 16.6B
12.96x - - 3.55% 14.08B
14.56x9.4x - 10.04% 13.74B
30.65x17.92x25.02x - 11.1B
Average 18.94x 7.71x 13.92x 5.51% 31.33B
Weighted average by Cap. 20.15x 6.77x 13.03x 3.73%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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  3. GBDC Stock
  4. Valuation Golub Capital BDC, Inc.