Golub Capital BDC (FRA:OGL) ROE %: -4.92% (As of Mar. 2026)


FRA:OGL Golub Capital BDC Inc FRA:OGL
62 GF Score
Price €10.70
GF Value €7.53
Valuation Significantly Overvalued
! 5 Warning Signs
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What is Golub Capital BDC ROE %?

Golub Capital BDC FRA:OGL +0.99% 62 ROE % is -4.92% as of Mar. 2026. GuruFocus rates FRA:OGL with a GF Score™ of 62/100 and a GF Value™ of €7.53 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 1,614 Asset Management companies, Golub Capital BDC ranks worse than 54.83% on this metric.

ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. Golub Capital BDC's annualized net income for the quarter that ended in Mar. 2026 was €-161.9 Mil. Golub Capital BDC's average Total Stockholders Equity over the quarter that ended in Mar. 2026 was €3,290.3 Mil. Therefore, Golub Capital BDC's annualized ROE % for the quarter that ended in Mar. 2026 was -4.92%.

The historical rank and industry rank for Golub Capital BDC's ROE % or its related term are showing as below:

FRA:OGL' s ROE % Range Over the Past 10 Years
Min: -1.16   Med: 8.43   Max: 13.67
Current: 5.2

During the past 13 years, Golub Capital BDC's highest ROE % was 13.67%. The lowest was -1.16%. And the median was 8.43%.

FRA:OGL's ROE % is ranked worse than
54.83% of 1614 companies
in the Asset Management industry
Industry Median: 6.36 vs FRA:OGL: 5.20

Golub Capital BDC  (FRA:OGL) ROE % Explanation

ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.

The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:

ROE %(Q: Mar. 2026 )
=Net Income/Total Stockholders Equity
=-161.916/3290.271
=(Net Income / Revenue )*(Revenue / Total Assets)*(Total Assets / Total Stockholders Equity)
=(-161.916 / -135.92)*(-135.92 / 7486.817)*(7486.817 / 3290.271)
=Net Margin %*Asset Turnover*Equity Multiplier
=119.13 %*-0.0182*2.2754
=ROA %*Equity Multiplier
=-2.17 %*2.2754
=-4.92 %

With this breakdown, it is clear that if a company grows its Net Profit Margin, its Asset Turnover, or its Leverage, it can grow its ROE %.

The factors that affect a company's ROE % can also be illustrated with the five-step DuPont Analysis:

ROE %(Q: Mar. 2026 )
=Net Income/Total Stockholders Equity
=-161.916/3290.271
=(Net Income / Pre-Tax Income) * (Pre-Tax Income / Revenue) * (Revenue / Total Assets) * (Total Assets / Total Stockholders Equity)
= (-161.916 / -161.916) * (-161.916 / -135.92) * (-135.92 / 7486.817) * (7486.817 / 3290.271)
= Tax Burden * Pretax Margin % * Asset Turnover * Equity Multiplier
= 1 * 119.13 % * -0.0182 * 2.2754
=-4.92 %

Note: The net income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.

* 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.


Be Aware

Net Income is used.

Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.

Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.


Golub Capital BDC ROE % Related Terms


Golub Capital BDC ROE % Historical Data

* Premium members only.

The historical data trend for Golub Capital BDC's ROE % 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 ROE % Chart

Golub Capital BDC Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
ROE %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 13.68 6.50 9.78 8.22 9.16

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
ROE % 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 7.71 8.67 9.57 6.62 -4.92

FRA:OGL vs NEA, AB, CSQ: ROE % Comparison

For the Asset Management subindustry, Golub Capital BDC's ROE %, along with its competitors' market caps and ROE % 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 ROE % vs Asset Management Industry

For the Asset Management industry and Financial Services sector, Golub Capital BDC's ROE % distribution charts can be found below:

* The bar in red indicates where Golub Capital BDC's ROE % falls into.


FRA:OGL
62GF Score
Golub Capital BDC Inc FRA:OGL
ROE % is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Golub Capital BDC ROE % Calculation

Golub Capital BDC's annualized ROE % for the fiscal year that ended in Sep. 2025 is calculated as

ROE %=Net Income (A: Sep. 2025 )/( (Total Stockholders Equity (A: Sep. 2024 )+Total Stockholders Equity (A: Sep. 2025 ))/ count )
=320.902/( (3617.091+3393.147)/ 2 )
=320.902/3505.119
=9.16 %

Golub Capital BDC's annualized ROE % for the quarter that ended in Mar. 2026 is calculated as

ROE %=Net Income (Q: Mar. 2026 )/( (Total Stockholders Equity (Q: Dec. 2025 )+Total Stockholders Equity (Q: Mar. 2026 ))/ count )
=-161.916/( (3338.418+3242.124)/ 2 )
=-161.916/3290.271
=-4.92 %

* 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.

In the calculation of annual ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data, the net income data used here is four times the quarterly (Mar. 2026) net income data. ROE % is displayed in the 30-year financial page.

Frequently Asked Questions Learn more about ROE % →
What does a ROE % of -4.92% mean?
Golub Capital BDC (FRA:OGL) has a ROE % of -4.92% as of Mar. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Golub Capital BDC and its competitors. According to the industry distribution chart, Golub Capital BDC ranks #885 out of 1614 companies in the Asset Management industry, placing it in the top 54.8%.
Is Golub Capital BDC's ROE % too high?
Golub Capital BDC's current ROE % is -4.92%. Based on the distribution chart, Golub Capital BDC ranks #885 out of 1614 companies in the Asset Management industry, which is below the industry midpoint. Overall, Golub Capital BDC has a GF Score™ of 62/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Golub Capital BDC's ROE % compare to NEA and AB?
According to the Asset Management industry distribution chart, Golub Capital BDC ranks #885 out of 1614 companies for ROE %. This places Golub Capital BDC in the lower half of its industry. The industry median ROE % is 6.36. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROE % for an Asset Management company?
The median ROE % among Asset Management companies is 6.36, based on 1,614 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % 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 ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Golub Capital BDC and its competitors. For the Asset Management industry, the median ROE % is 6.36 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Golub Capital BDC's current ROE % is -4.92%. 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 €7.53, compared to a current price of €10.70 — trading 42% above its estimated fair value. The current ROE % is -4.92%. Golub Capital BDC's overall GF Score™ is 62/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For Golub Capital BDC (FRA:OGL), the current ROE % is -4.92% 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 €10.70 is trading 42% above its estimated GF Value™ of €7.53. GuruFocus considers Golub Capital BDC to be Significantly Overvalued.

Key valuation signals for FRA:OGL:

  • ROE %: -4.92%
  • GF Value™: €7.53 vs. price of €10.70 (42% above fair value)
  • GF Score™: 62/100 with 5 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.
62GF Score

Get the complete analysis for FRA:OGL

ROE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€10.70
Price
€7.53
GF Value