Golub Capital BDC Inc
golubcapitalbdc.comWhat Do They Do?
Lends to U.S. middle-market companies, mainly through loans combining senior and junior debt and other senior secured loans; many borrowers are backed by private equity firms.
10-K for FY2025, filed Nov 18, 2025
How Do They Make Money?
Borrowers owe interest on outstanding loans under the agreed terms; some interest is added to loan balances and generally due at maturity. The company also earns loan-related fees and dividends on equity investments.
10-K for FY2025, filed Nov 18, 2025Investments and related investment income: Interest income is accrued based upon the outstanding principal amount and contractual interest…View ↗
For investments with contractual payment-in-kind (“PIK”) interest, which represents contractual interest accrued and added to the principal…View ↗
In addition, the Company generates revenue in the form of amendment, structuring or due diligence fees, fees for providing managerial…View ↗
Dividend income on equity securities is recorded as dividend income on an accrual basis to the extent that such amounts are payable by the…View ↗
$396.8M
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10-K for FY2025, filed Nov 18, 2025
$396.8M ↗
Who Are Their Customers?
Its borrowers are mainly U.S. middle-market companies, often backed by private equity firms. It also lends to independently owned and publicly held middle-market companies.
10-K for FY2025, filed Nov 18, 2025
Do Revenues Turn Into Profits?
Yes. It kept 95 cents of every revenue dollar as net income in FY2025.
10-K for FY2025, filed Nov 18, 2025
10-K for FY2025, filed Nov 18, 2025
$376.6MView ↗
How Are They Changing?
Growing. Revenue grew 2.4x in 4 years, from $167.7M in FY2021 to $396.8M in FY2025, about 24% a year.
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