Golub Capital BDC stock trades below its latest NAV
Published on 09/25/2026 at 06:51 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Golub Capital BDC stock stood at USD 12.41 on Nasdaq on September 24, 2026, while the company reported NAV of USD 14.25 per share for June 30, 2026. The market price was therefore 12.9 percent below the latest reported NAV, a gap that puts portfolio valuation and income coverage at the center of the investment case.
NAV gap shapes the valuation
The NAV figure comes from Golub Capital BDC's fiscal year 2026 third quarter update, announced August 3, 2026, according to Golub Capital BDC. At USD 12.41, the stock was USD 1.84 below that per-share value on September 24.
The price comparison is dated across two different reference points: the share price belongs to September 24, 2026, while NAV belongs to June 30, 2026. That distinction matters because a BDC's NAV can change with credit marks, portfolio activity and distributions between reporting dates.
Income remains the second signal
Golub Capital BDC reported a regular quarterly distribution of USD 0.33 per share for the fiscal year 2026 third quarter, according to Golub Capital BDC. The annualized regular distribution therefore totals USD 1.32 per share if maintained for four quarters.
The same company update reported a 9.4 percent inception-to-date internal rate of return on NAV through June 30, 2026, versus 6.1 percent for a BDC peer average. GBDC's reported 3.3 percentage-point advantage is a stronger valuation reference than the dividend alone because it measures the long-term result on NAV.
Stock stays below reported NAV
GBDC also reported a 5.2 percent weighted average cost of debt as of June 30, 2026, and 8.0 percent volatility of annualized NAV IRR versus 12.5 percent for BDC peers, according to Golub Capital BDC. The lower volatility and lower debt cost frame the stock's 12.9 percent discount to NAV as a valuation signal rather than a standalone income statistic.
Golub Capital BDC market snapshot
- Company: Golub Capital BDC, Inc.
- Ticker: GBDC
- Trading venue: NASDAQ
- Price as of September 24, 2026: USD 12.41
- Market capitalization: USD 3,232,745,196 as of September 25, 2026
- 52-week range: USD 11.77-14.41
- Sector / Industry: Financial Services / Asset Management
