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Golub Capital BDC, Inc. Announces Fiscal Year 2025 Fourth Quarter Financial Results

GBDC
  • Golub Capital BDC, Inc. (NASDAQ: GBDC) announced financial results for the fourth fiscal quarter ended September 30, 2025.
  • The company declared a quarterly distribution of $0.39 per share, payable on December 30, 2025, to stockholders of record as of December 12, 2025.
  • Net asset value per share decreased to $14.97 at September 30, 2025, from $15.00 at June 30, 2025.
  • Net investment income per share remained consistent at $0.38 for the quarter, while adjusted net investment income per share was $0.39.
  • Earnings per share for the quarter were $0.36, compared to $0.34 in the previous quarter.
  • The investment portfolio at fair value was $8,769.4 million, down from $8,961.5 million in the prior quarter.
  • The company held investments in 417 portfolio companies as of September 30, 2025, with "one stop" loans comprising 86.8% of the portfolio.
  • 87.6% of the portfolio investments carried an internal performance rating of 4, indicating an acceptable level of risk.
  • The company repurchased approximately 368,333 shares for $5.2 million during the quarter ended September 30, 2025, and an additional 2.5 million shares for $34.8 million from October 1, 2025, through November 18, 2025.
  • Golub Capital Employee Grant Program Rabbi Trust purchased approximately $8.1 million of common stock during the quarter to fund employee incentive compensation.
  • Total debt outstanding was $4,926.8 million, with a GAAP leverage ratio of 1.25x and a debt-to-equity ratio of 1.23x as of September 30, 2025.
  • The company issued an additional $250.0 million of 2028 Unsecured Notes at a fixed interest rate of 7.050% on September 19, 2025.
  • Total assets were $8,978.3 million, while net assets stood at $3,982.6 million.
  • A conference call to discuss these results is scheduled for 10:00 am Eastern Time on November 19, 2025.