Golub Capital BDC (GBDC) Margins & Profitability 2022-2026

Gross, EBITDA, operating, and net margin trends

Margins

Profit margins across the income statement

Gross Margin: 45.5%
EBITDA Margin: 45.5%
Op. Margin: 45.5%
Net Margin: -24.9%

Op. margin of 45.5% is down 0.7% YoY — costs are rising relative to revenue. Net margin at -24.9% and gross margin of 45.5% — earnings take a bigger bite when COGS stays lean..

Gross Margin (%)

Revenue left after direct cost of goods sold

EBITDA Margin (%)

Operating profitability independent of capital structure

Operating & Net Margins (%)

How much of each dollar becomes profit