GBDC FY 2018 Earnings Report — Golub Capital BDC, Inc. Revenue & Financial Results | Market Cap Arena

Golub Capital BDC, Inc.GBDC

FY 2018 Earnings

Reported November 28, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$121M	—	$119M	—	1.4%
Op. Income	$82M	—	$82M	—	-0.4%
Gross Margin	72.5%	—	73.5%	—	-1.0pp
Net Margin	67.9%	—	69.1%	—	-1.2pp
EPS (Diluted)	$1.33	—	$1.45	—	-8.3%
Free Cash Flow	-$8M	—	$62M	—	-113.6%

Revenue Flow

Item	Amount
REVENUE	$121M
Cost of Revenue	$33M
GROSS PROFIT	$88M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$6M
SG&A Expenses	$6M
Other Expenses	$0
Operating Expenses	$6M
Cost & Expenses	$39M
OPERATING INCOME	$82M
Interest Income	$141M
Interest Expense	$33M
Other Income/Expenses	$0
INCOME BEFORE TAX	$82M
Income Tax Expense	$0
Net Income from Continuing Ops	$82M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$82M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$82M
D&A	$0
EBIT	$82M
EBITDA	$82M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$121M
Cost of Revenue	$33M
GROSS PROFIT	$88M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$6M
SG&A Expenses	$6M
Other Expenses	$0
Operating Expenses	$6M
Cost & Expenses	$39M
OPERATING INCOME	$82M
Interest Income	$141M
Interest Expense	$33M
Other Income/Expenses	$0
INCOME BEFORE TAX	$82M
Income Tax Expense	$0
Net Income from Continuing Ops	$82M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$82M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$82M
D&A	$0
EBIT	$82M
EBITDA	$82M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$82M
Depreciation & Amortization	$0
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	-$95M
Change in Working Capital	$4M
OPERATING CASH FLOW	-$8M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	$0
Net Debt Issuance	$65M
Common Stock Repurchased	$0
Common Dividends Paid	-$71M
Other Financing Activities	-$2M
NET CASH FROM FINANCING	-$8M
FREE CASH FLOW	-$8M
Net Change in Cash	-$17M

Balance Sheet

Item	Amount
Cash & Equivalents	$6M
Short-Term Investments	-$159.0K
Net Receivables	$7M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$13M
PP&E (Net)	$0
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$1.8B
Tax Assets	$0
Other Non-Current Assets	-$1.8B
TOTAL NON-CURRENT ASSETS	$1.8B
TOTAL ASSETS	$1.8B
Account Payables	$6M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$125.0K
TOTAL CURRENT LIABILITIES	$24M
Long-Term Debt	$843M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	-$49.0K
TOTAL NON-CURRENT LIABILITIES	$843M
TOTAL LIABILITIES	$867M
Common Stock	$60.0K
Additional Paid-In Capital	$950M
Retained Earnings	$19M
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$969M
Minority Interest	$0
TOTAL EQUITY	$969M
TOTAL LIABILITIES & EQUITY	$1.8B
Total Debt	$843M
Net Debt	$837M