GBDC 8-K SEC Filing Analysis

Latest settled — T+20d ⚠ clustered

GBDC ▼ -0.97% at T+20d

SHORT call ✓ call won +0.97% · α vs SPY +5.92% · entry $13.40 → $13.27

Next anchor: T+60d in 7w

Currently $13.10 · +2.24% from $13.40 entry (call sign-flipped)

Entry anchored
May 4, 03:59 PM ET
via Databento tick

T+1d

0.00%

call 0.00% · α +1.38%

$13.40

settled 5w ago

T+5d

-3.28%

call +3.28% · α +5.27%

$12.96

settled 4w ago

T+20d

-0.97%

call +0.97% · α +5.92%

$13.27

settled 8d ago

T+60d

—

call — · α —

—

in 7w

Price Chart

Loading chart...

Executive Summary

Golub Capital BDC's fiscal Q2 2026 results missed Street estimates on adjusted net investment income, which fell to $0.34 per share vs. $0.36 consensus. GAAP net loss was ($0.18) per share, driven by $0.51 of unrealized losses from credit spread widening, and NAV declined 3.3% to $14.35. Total investment income declined 9% sequentially and 12% YoY.

Actionable Insight

The miss on adjusted NII and declining NAV due to spread widening point to continued headwinds for BDC book values. Monitor upcoming Q3 results for stabilization in credit spreads and non-accrual trends. The maintained $0.33 dividend is covered but leaves little margin for further NII erosion.

Key Facts

Adjusted net investment income per share of $0.34 missed consensus of $0.36 (-5.6%)
GAAP EPS of ($0.18) vs. $0.25 in prior quarter
NAV per share decreased $0.49 to $14.35 from $14.84
Total investment income fell to $188.1M from $207.0M prior quarter
Non-accrual investments increased to 1.4% of fair value (from 0.8%)
Repurchased 2.2M shares for $27.8M at 84% of NAV

Financial Impact

Adjusted NII missing consensus by ~$0.02/sh, NAV decline of $0.49/sh, investment income down 12% YoY

net investment incomeNAVtotal investment income

Risk Factors

Further credit spread widening pressuring NAV
Rising non-accruals (now 19 investments)
Interest rate sensitivity on floating-rate portfolio
Potential dividend cut if NII continues to decline

Market Snapshot

Exchange

Nasdaq

Analyst Consensus

85% bullish (13 analysts)

Documents Analyzed

This report is based on 6 SEC documents filed with EDGAR.

Document	Accession Number
8-K Filing (Primary)	0001476765-26-000032
Document: gbdc-20260504.htm	0001476765-26-000032
Document: 0001476765-26-000032-index-headers.html	0001476765-26-000032
Document: 0001476765-26-000032-index.html	0001476765-26-000032
Document: 0001476765-26-000032.txt	0001476765-26-000032
8-K Data (Synthetic)	0001476765-26-000032

4 reports for GBDC

T+1T+5T+20T+60

Track record builds as more directional reports settle.

Filters

Reports for GBDC — sortable, filterable
	Type				Now
May 27, 2026 13d ago	8-K NEUTRAL ★ 4/10	$13.09 $13.19	▲ +0.76%	▲ +0.45%	$13.10 (+0.08%)
May 4, 2026 5w ago	8-K BEARISH ★ 6/10	$13.40 $12.96	▲ +3.28%	▲ +5.27%	$13.10 (+2.24%)
May 4, 2026 5w ago	8-K BEARISH ★ 7/10	$13.40 $12.96	▲ +3.28%	▲ +5.27%	$13.10 (+2.24%)
Apr 6, 2026 9w ago	8-K BEARISH ★ 7/10	$12.83 $13.11	▼ −2.18%	▲ +3.15%	$13.10 (−2.10%)

US Market Status

Market Closed — Opens Thu (10h 3m)

Get Real-Time SEC Filing Intelligence

Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.

Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access