Golub Capital BDC (STU:OGL) Cyclically Adjusted PS Ratio: (As of Jul. 22, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

STU:OGL Golub Capital BDC Inc STU:OGL
46 GF Score
Price €11.41
GF Value €7.78
Valuation Significantly Overvalued
! 7 Warning Signs
View Full Analysis

What is Golub Capital BDC Cyclically Adjusted PS Ratio?

Note: If the price history is too short, we do not calculate current Cyclically Adjusted PS Ratio for this stock. All the historical data is shown as the company's primary share's data instead.

Shiller PE for Stocks: The True Measure of Stock Valuation


Golub Capital BDC  (STU:OGL) Cyclically Adjusted PS Ratio Explanation

Compared with the regular PS Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PS Ratio smoothed out the fluctuations of revenue during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PS Ratio should give similar results to regular PS Ratio.


Golub Capital BDC Cyclically Adjusted PS Ratio Related Terms


Golub Capital BDC Cyclically Adjusted PS Ratio Historical Data

* Premium members only.

The historical data trend for Golub Capital BDC's Cyclically Adjusted PS Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Golub Capital BDC Cyclically Adjusted PS Ratio Chart

Golub Capital BDC Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
Cyclically Adjusted PS Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 11.32 8.69 10.11 10.57 9.62

Golub Capital BDC Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Cyclically Adjusted PS Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 10.60 10.27 9.62 9.75 9.29

STU:OGL vs STEP, CSQ, AB: Cyclically Adjusted PS Ratio Comparison

For the Asset Management subindustry, Golub Capital BDC's Cyclically Adjusted PS Ratio, along with its competitors' market caps and Cyclically Adjusted PS Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Golub Capital BDC Cyclically Adjusted PS Ratio vs Asset Management Industry

For the Asset Management industry and Financial Services sector, Golub Capital BDC's Cyclically Adjusted PS Ratio distribution charts can be found below:

* The bar in red indicates where Golub Capital BDC's Cyclically Adjusted PS Ratio falls into.


STU:OGL
46GF Score
Golub Capital BDC Inc STU:OGL
Cyclically Adjusted PS Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Golub Capital BDC Cyclically Adjusted PS Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PS Ratio takes the Revenue per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/S calculation. Because it considers this 10-year average, it's often referred to as the CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio.

Golub Capital BDC's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Golub Capital BDC's adjusted Revenue per Share data for the three months ended in Mar. 2026 was:

Adj_RevenuePerShare=Revenue per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=-0.129/330.2130*330.2130
=-0.129

Current CPI (Mar. 2026) = 330.2130.

Golub Capital BDC Quarterly Data

Revenue per Share CPI Adj_RevenuePerShare
201606 0.321 241.018 0.440
201609 0.276 241.428 0.377
201612 0.332 241.432 0.454
201703 0.354 243.801 0.479
201706 0.314 244.955 0.423
201709 0.316 246.819 0.423
201712 0.306 246.524 0.410
201803 0.316 249.554 0.418
201806 0.314 251.989 0.411
201809 0.254 252.439 0.332
201812 0.275 251.233 0.361
201903 0.267 254.202 0.347
201906 0.295 256.143 0.380
201909 -0.880 256.759 -1.132
201912 0.325 256.974 0.418
202003 -1.481 258.115 -1.895
202006 0.842 257.797 1.079
202009 0.497 260.280 0.631
202012 0.483 260.474 0.612
202103 0.477 264.877 0.595
202106 0.425 271.696 0.517
202109 0.332 274.310 0.400
202112 0.355 278.802 0.420
202203 0.360 287.504 0.413
202206 0.107 296.311 0.119
202209 0.037 296.808 0.041
202212 0.182 296.797 0.202
202303 0.341 301.836 0.373
202306 0.415 305.109 0.449
202309 0.562 307.789 0.603
202312 0.445 306.746 0.479
202403 0.499 312.332 0.528
202406 -0.006 314.175 -0.006
202409 0.321 315.301 0.336
202412 0.429 315.605 0.449
202503 0.292 319.799 0.302
202506 0.318 322.561 0.326
202509 0.334 324.800 0.340
202512 0.237 324.054 0.242
202603 -0.129 330.213 -0.129

Add all the adjusted revenue per share together and divide 10 will get our Cyclically Adjusted Revenue per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Golub Capital BDC (STU:OGL) Overvalued in 2026?

Based on GuruFocus' analysis, Golub Capital BDC stock appears to be overvalued. The current stock price of €11.41 is trading 46.7% above its estimated GF Value™ of €7.78. GuruFocus considers Golub Capital BDC to be Significantly Overvalued.

Key valuation signals for STU:OGL:

  • Cyclically Adjusted PS Ratio:
  • GF Value™: €7.78 vs. price of €11.41 (46.7% above fair value)
  • GF Score™: 46/100 with 7 warning signs

No single metric tells the full story. See the STU:OGL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Golub Capital BDC Business Description

Other Exchanges GBDC:USA0IZ6:UK
Address 200 Park Avenue, 25th Floor, New York, NY, USA, 10166
Golub Capital BDC Inc. is an externally managed, closed-end, non-diversified management investment company. Its investment objective is to generate current income and capital appreciation by investing in senior secured and one-stop loans in U.S. middle-market companies. It also invests in second-lien and subordinated loans, warrants, and minority equity securities in U.S. middle-market companies. The company generally invests in securities rated below investment grade by independent rating agencies, or those that would be rated below investment grade if evaluated. The company operates in the USA, Canada, and other countries, with the majority of its revenue coming from the USA.
46GF Score

Get the complete analysis for STU:OGL

Cyclically Adjusted PS Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€11.41
Price
€7.78
GF Value