Golub Capital Bdc (GBDC) Operating Margin (2021 - 2026)
Golub Capital Bdc (GBDC) posted Operating Margin of 45.47% for Q1 2026, down 1.7% sequentially from 46.26% in Q4 2025, and down 66.0% YoY from 133.74% in Q1 2025.
Golub Capital Bdc (GBDC) Operating Margin (2021 - 2026) Analysis & Trends
Golub Capital Bdc has reported Operating Margin for 6 years, with the latest figure at 45.47% in Q1 2026.
- Quarterly Operating Margin fell 66.0% year-over-year to 45.47% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 46.05% (down 298.0% YoY) and the FY2025 annual result came in at 45.57%, down 737.0% from the prior year.
- Operating Margin declined to 45.47% in Q1 2026 per GBDC's latest filing, from 46.26% in the prior quarter.
- Over five years, Operating Margin peaked at 56.39% in Q2 2022 and troughed at 43.55% in Q4 2024.
- A 5-year average of 48.95% and a median of 47.68% in 2023 frame the typical range for Operating Margin.
- The widest YoY moves for Operating Margin: up 779 bps in 2023, down 871 bps in 2023.
- Over 5 years, Operating Margin stood at 46.66% in 2022, then rose by 9 bps to 50.7% in 2023, then slipped by 14 bps to 43.55% in 2024, then rose by 6 bps to 46.26% in 2025, then declined by 2 bps to 45.47% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 45.47%, 46.26%, and 46.04% for Q1 2026, Q4 2025, and Q3 2025 respectively.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 179.18 Bn | 165.31 Bn | - | 34.74% |
| 2 | Blackstone | 115.18 Bn | 112.68 Bn | - | - |
| 3 | Kkr | 97.43 Bn | -179.65 Bn | - | 35.61% |
| 4 | Brookfield | 93.31 Bn | 45.91 Bn | - | - |
| 5 | Brookfield Asset Management | 83.86 Bn | 82.36 Bn | - | - |
| 6 | Apollo Global Management | 78.76 Bn | 53.38 Bn | 10.54 Bn | 47.97% |
| 7 | State Street | 51.40 Bn | 51.40 Bn | - | - |
| 8 | Ameriprise Financial | 51.22 Bn | 40.18 Bn | 4.72 Bn | 24.36% |
| 9 | Northern Trust | 34.04 Bn | 34.04 Bn | - | - |
| 10 | Golub Capital Bdc | 3.44 Bn | 3.40 Bn | - | 45.39% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 45.39% |
| Mar 31, 2026 | 45.47% |
| Dec 31, 2025 | 46.26% |
| Sep 30, 2025 | 46.04% |
| Jun 30, 2025 | 46.38% |
| Mar 31, 2025 | 46.13% |
| Dec 31, 2024 | 43.55% |
| Sep 30, 2024 | 53.32% |
| Jun 30, 2024 | 54.14% |
| Mar 31, 2024 | 53.04% |
| Dec 31, 2023 | 50.70% |
| Sep 30, 2023 | 52.95% |
| Jun 30, 2023 | 47.68% |
| Mar 31, 2023 | 47.77% |
| Dec 31, 2022 | 46.66% |
| Sep 30, 2022 | 45.16% |
| Jun 30, 2022 | 56.39% |
| Mar 31, 2022 | 50.53% |
| Dec 31, 2021 | 51.74% |