Golub Capital BDC (FRA:OGL) Cyclically Adjusted Revenue per Share: €1.18 (As of Mar. 2026)


FRA:OGL Golub Capital BDC Inc FRA:OGL
59 GF Score
Price €10.98
GF Value €7.67
Valuation Significantly Overvalued
! 7 Warning Signs
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What is Golub Capital BDC Cyclically Adjusted Revenue per Share?

Golub Capital BDC FRA:OGL -0.72% 59 Cyclically Adjusted Revenue per Share is €1.18 as of Mar. 2026. GuruFocus rates FRA:OGL with a GF Score™ of 59/100 and a GF Value™ of €7.67 (Significantly Overvalued). The stock has 7 warning signs investors should review.

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Revenue per Share and the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years.

Golub Capital BDC's adjusted revenue per share for the three months ended in Mar. 2026 was €-0.129. Add all the adjusted revenue per share for the past 10 years together and divide the count will get our Cyclically Adjusted Revenue per Share, which is €1.18 for the trailing ten years ended in Mar. 2026.

During the past 12 months, Golub Capital BDC's average Cyclically Adjusted Revenue Growth Rate was -4.90% per year. During the past 3 years, the average Cyclically Adjusted Revenue Growth Rate was -0.20% per year. During the past 5 years, the average Cyclically Adjusted Revenue Growth Rate was 1.80% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted Revenue Growth Rate using Cyclically Adjusted Revenue per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted Revenue Growth Rate of Golub Capital BDC was 4.50% per year. The lowest was -0.20% per year. And the median was 0.25% per year.

As of today (2026-07-11), Golub Capital BDC's current stock price is €10.975. Golub Capital BDC's Cyclically Adjusted Revenue per Share for the quarter that ended in Mar. 2026 was €1.18. Golub Capital BDC's Cyclically Adjusted PS Ratio of today is 9.30.

During the past 13 years, the highest Cyclically Adjusted PS Ratio of Golub Capital BDC was 12.42. The lowest was 7.50. And the median was 10.48.


Golub Capital BDC  (FRA:OGL) Cyclically Adjusted Revenue per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted Revenue per Share may underestimate the company's revenue. Cyclically Adjusted PS Ratio can seem to be too high even the actual PS Ratio is low.

For the Cyclically Adjusted PS Ratio, the revenue per share of the past 10 years are inflation-adjusted and averaged. The result is used for P/S calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted PS Ratio is also called CAPS Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted revenue per share of a company over the past 10 years.

Golub Capital BDC's Cyclically Adjusted PS Ratio of today is calculated as

Cyclically Adjusted PS Ratio=Share Price/Cyclically Adjusted Revenue per Share
=10.975/1.18
=9.30

* 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.

During the past 13 years, the highest Cyclically Adjusted PS Ratio of Golub Capital BDC was 12.42. The lowest was 7.50. And the median was 10.48.


Be Aware

Cyclically Adjusted PS Ratio works better for cyclical companies. It gives you a better idea on the company's real revenue value.


Golub Capital BDC Cyclically Adjusted Revenue per Share Related Terms


Golub Capital BDC Cyclically Adjusted Revenue per Share Historical Data

* Premium members only.

The historical data trend for Golub Capital BDC's Cyclically Adjusted Revenue per Share 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 Revenue per Share Chart

Golub Capital BDC Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
Cyclically Adjusted Revenue per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.20 1.42 1.34 1.29 1.20

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 Revenue per Share 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 1.33 1.21 1.20 1.17 1.18

FRA:OGL vs STEP, CSQ, AB: Cyclically Adjusted Revenue per Share 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.


FRA:OGL
59GF Score
Golub Capital BDC Inc FRA:OGL
Cyclically Adjusted Revenue per Share is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Golub Capital BDC Cyclically Adjusted Revenue per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Revenue per Share and the Cyclically Adjusted PS Ratio. The Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years.

What is Cyclically Adjusted Revenue per Share? How do we calculate Cyclically Adjusted Revenue per Share?

Cyclically Adjusted Revenue per Share is the average of the inflation adjusted Revenue per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted Revenue per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the revenue per share from 2001 through 2010.

We adjusted the 2001 revenue per share data with the total inflation from 2001 through 2010 to the equivalent revenue in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's revenue is $1 a share in 2001, then the 2001's equivalent revenue in 2010 is $1.4 a share. If Wal-Mart's revenue is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 revenue in 2010 is $1.35. So on and so forth, you get the equivalent revenue per share of past 10 years. Then you add them together and divided the sum by the count to get 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.

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.

What does a Cyclically Adjusted Revenue per Share of €1.18 mean?
Golub Capital BDC (FRA:OGL) has a Cyclically Adjusted Revenue per Share of €1.18 as of Mar. 2026. Cyclically adjusted revenue per share represents the company's inflation-adjusted revenue per share over a 10-year period. View historical data on Golub Capital BDC and its competitors.
Is Golub Capital BDC's Cyclically Adjusted Revenue per Share too high?
Golub Capital BDC's current Cyclically Adjusted Revenue per Share is €1.18. Overall, Golub Capital BDC has a GF Score™ of 59/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Golub Capital BDC's Cyclically Adjusted Revenue per Share compare to STEP and CSQ?
Golub Capital BDC's Cyclically Adjusted Revenue per Share of €1.18 can be compared against companies in the Asset Management industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted Revenue per Share for an Asset Management company?
A good Cyclically Adjusted Revenue per Share depends on the Asset Management industry context. However, Cyclically Adjusted Revenue per Share should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted Revenue per Share mean?
A high Cyclically Adjusted Revenue per Share can signal that a stock is expensive relative to its fundamentals. Cyclically adjusted revenue per share represents the company's inflation-adjusted revenue per share over a 10-year period. View historical data on Golub Capital BDC and its competitors. Golub Capital BDC's current Cyclically Adjusted Revenue per Share is €1.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Golub Capital BDC stock overvalued right now?
Based on GuruFocus' analysis, Golub Capital BDC (FRA:OGL) is currently considered Significantly Overvalued. The stock's GF Value™ is €7.67, compared to a current price of €10.98 — trading 43.1% above its estimated fair value. The current Cyclically Adjusted Revenue per Share is €1.18. Golub Capital BDC's overall GF Score™ is 59/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted Revenue per Share calculated?
Cyclically Adjusted Revenue per Share is calculated from a company's financial statements. For Golub Capital BDC (FRA:OGL), the current Cyclically Adjusted Revenue per Share is €1.18 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

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

Based on GuruFocus' analysis, Golub Capital BDC stock appears to be overvalued. The current stock price of €10.98 is trading 43.1% above its estimated GF Value™ of €7.67. GuruFocus considers Golub Capital BDC to be Significantly Overvalued.

Key valuation signals for FRA:OGL:

  • Cyclically Adjusted Revenue per Share: €1.18
  • GF Value™: €7.67 vs. price of €10.98 (43.1% above fair value)
  • GF Score™: 59/100 with 7 warning signs

No single metric tells the full story. See the FRA: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.
59GF Score

Get the complete analysis for FRA:OGL

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

€10.98
Price
€7.67
GF Value