The earnings call presented a balanced view with strong financial performance and a robust credit portfolio highlighted, but also noted challenges such as unrealized losses and a protracted credit cycle. The company's liquidity and investment activity were positive, though spread compression and NAV decrease were concerns.

Company Guidance -

Q4 2025

During the earnings call for GBDC's fiscal quarter ended June 30, 2025, the company reported an adjusted net investment income (NII) per share of $0.39, resulting in an adjusted NII return on equity of 10.4%. Adjusted net income per share was $0.34, with an adjusted return on equity of 9.1%, contributing to a 15-year internal rate of return since IPO of 9.6%. The company noted a $0.05 per share impact from adjusted net realized and unrealized losses, primarily due to unrealized losses from underperforming borrowers. GBDC's investment portfolio grew by 4% to just under $9 billion at fair value, driven by new investment commitments of $557 million. The company's net investment spread remained stable at 4.9%, with investment income yield at 10.6% and cost of debt at 5.7%. Nonaccruals were low, at 60 basis points of total investments, indicating strong credit performance. The company paid distributions totaling $0.39 per share during the quarter and declared a regular quarterly distribution of the same amount, representing an annualized dividend yield of 10.4% based on a net asset value of $15 per share as of June 30, 2025.

Solid Financial Performance

Adjusted NII per share was $0.39, yielding a return on equity of 10.4%. Adjusted net income per share was $0.34 with a return on equity of 9.1%. The internal rate of return for shareholders since IPO is 9.6% over 15 years.

Strong Credit Portfolio

Nearly 90% of GBDC's investment portfolio at fair value remains in the highest performing internal rating categories. Nonaccrual investments are very low at 60 basis points of the total investment portfolio, below the industry average.

Increased Investment Activity

New investment commitments for the quarter reached $557 million, with $411 million funded, despite a muted M&A environment. The investment portfolio grew by 4% to just under $9 billion at fair value.

Effective Cost Management

The repricing of GBDC's syndicated corporate revolver reduced effective borrowing costs. Operating expenses were lower due to a market-leading fee structure.

Strong Liquidity Position

GBDC ended the quarter with approximately $950 million of liquidity, including unrestricted cash and undrawn commitments.

Golub Capital Bdc (GBDC) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

GBDC Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 24, 2025	2025 (Q4)	0.39 / -	0.47	―	―	―
Aug 04, 2025	2025 (Q3)	0.39 / 0.39	0.48	-18.75% (-0.09)
May 05, 2025	2025 (Q2)	0.41 / 0.39	0.51	-23.53% (-0.12)
Feb 04, 2025	2025 (Q1)	0.43 / 0.39	0.5	-22.00% (-0.11)
Nov 19, 2024	2024 (Q4)	0.45 / 0.47	0.5	-6.00% (-0.03)
Aug 05, 2024	2024 (Q3)	0.48 / 0.48	0.44	9.09% (+0.04)
May 06, 2024	2024 (Q2)	0.51 / 0.51	0.42	21.43% (+0.09)
Feb 05, 2024	2024 (Q1)	0.48 / 0.50	0.37	35.14% (+0.13)
Nov 20, 2023	2023 (Q4)	0.47 / 0.50	0.33	51.52% (+0.17)
Aug 07, 2023	2023 (Q3)	0.42 / 0.44	0.34	29.41% (+0.10)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

GBDC Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 04, 2025	$14.71	$14.79	+0.54%
May 05, 2025	$13.77	$13.83	+0.44%
Feb 04, 2025	$14.89	$14.55	-2.28%
Nov 19, 2024	$14.30	$14.01	-2.03%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Golub Capital Bdc (GBDC) report earnings?

Golub Capital Bdc (GBDC) is schdueled to report earning on Nov 24, 2025, After Close (Confirmed).

What is Golub Capital Bdc (GBDC) earnings time?

Golub Capital Bdc (GBDC) earnings time is at Nov 24, 2025, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is GBDC EPS forecast?

GBDC EPS forecast for the fiscal quarter 2025 (Q4) is 0.39.

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