Golub Capital BDC: Balancing High Yields with Caution

Golub Capital BDCs fiscal Q4 and full year 2025 earnings showcased resilience, with adjusted net investment income of $0.39 per share and adjusted earnings of $0.36 per share. The portfolio, valued at $8.8 billion, boasts 90% in top internal ratings and a minuscule 0.3% nonaccrual rate. Distributions remained steady at $0.39 per share, while net asset value reached $14.97. Spreads tightened slightly, with investment yield at 10.4% and borrowing costs at an industry-low 5.6%. The portfolio shrank slightly due to repayments outpacing new deals. Credit quality remained robust, with heavy diversification across 417 companies. GBDC repurchased millions of shares and maintains strong liquidity, positioning for future rate volatility. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/bd08621d42d2bf7a