Golub Capital BDC

GBDC · NASDAQ

$12.00−$0.01 (−0.08%)TodayMarket closed · Oct 20, 7:55 PM ET

Prev close $12.01

GBDC analyst rating

BuyConsensus of 4 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy4
Hold0
Underperform0
Sell0

12-month price target · 8 analysts

Average $13.90 (+15.8% upside)

Low: $13.13
Now: $12.00
High: $14.70

Upgrades and downgrades

The latest rating actions, newest first

GBDC analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Keefe, Bruyette & Woods	Aug 5, 2026	Maintains	Outperform	$14.00 → $13.50	36%
RBC Capital	May 7, 2026	Maintains	Outperform	$15.00 → $14.00	29%
RBC Capital	Apr 17, 2026	Initiates	Outperform	$15.00	57%
Wells Fargo	Feb 6, 2026	Maintains	Overweight	$14.00 → $13.00	50%
Keefe, Bruyette & Woods	Feb 6, 2026	Maintains	Outperform	$15.00 → $14.00	36%
Wells Fargo	Jan 7, 2026	Upgrade	Equal-Weight → Overweight	$14.00	50%
Keefe, Bruyette & Woods	Nov 21, 2025	Maintains	Outperform	$15.50 → $15.00	36%

The case for and against

Updated Jul 17, 2024

Bull case

Golub Capital BDC is showing promising performance indicators, including an increase in NAV of 1.3% that was driven by operating earnings surpassing the dividend and net portfolio gains. The first quarter with the company’s new, lower base fee resulted in an improved operating ROE of 13.5%, while GBDC's unique management fee structure with low fees and operating expenses and solid shareholder protections demonstrate strong overall governance. Despite slight rise in riskier investments, the company’s portfolio quality remains high and its credit quality metrics are strong – reflecting GBDC's capable management even given potential fluctuation in the broader U.S. marketplace.

Bear case

Golub Capital BDC is facing significant challenges due to unpredictable earnings or potential losses, excessively leveraged balance sheets, and heightened market volatility, all of which significantly increase its risk of principal loss. The firm's total and net leverage rates have been high, while a slowdown in credit markets within the broader U.S economy indicates increased financial pressure. Additionally, any substantial weakening in economic expectations could adversely affect the company's risk expectations and stock valuations, while a myriad of identified risk factors, including potential credit write-downs, access to capital, interest rate volatility, and regulatory changes, further contribute to a negative outlook on the stock.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.