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Golub Capital GBDC Incentive fee

Incentive fee at other companies

Blue Owl Capital logo
Blue Owl CapitalOBDC
$32.41M-21.0%
FS KKR Capital Corp. logo
FS KKR Capital Corp.FSK
$25M-35.9%
Blackstone logo
BlackstoneBX
$54.37M-4.7%
EFC
Ellington Financial Inc.EFC
$19.22M+324%
Seven Hills Realty Trust logo
Seven Hills Realty TrustSEVN
$0-100%
Blue Owl Capital logo
Blue Owl CapitalOBDC
-$6.49M-494%

Other financials

Income statement

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Net income-$46.8M-159%
EPS (diluted)-$0.18-160%

Balance sheet

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Cash & equivalents$135.2M-45.1%
Total debt$4.7B-2.2%
Total equity$3.7B-7.3%
Total assets$8.5B-4.7%

Cash flow

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Operating cash flow$248.8M

Valuation

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Market cap$3.21B-17.1%

Returns & leverage

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Return on equity5.3%-3.6pp
Debt / equity1.3×+0.1×

Where this comes from

Reported directly by Golub Capital in its filing.

Tagged under the XBRL concept gbdc:IncentiveFeeExpenseNetOfAdjustments.

The official record: Golub Capital’s 10-Q, filed May 4, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Golub Capital's incentive fee?
Golub Capital (GBDC) reported incentive fee of $15.54M in Q1 2026.
How has Golub Capital's incentive fee changed year-over-year?
Golub Capital's incentive fee decreased by 14.8% year-over-year, from $18.25M to $15.54M.
What is the long-term trend for Golub Capital's incentive fee?
Over 3 years (2021 to 2025), Golub Capital's incentive fee has grown at a 183.6% compound annual growth rate (CAGR), from $3.21M to $73.28M.
What does incentive fee mean?
Performance-based compensation paid to the investment adviser, typically tied to achieving specific net investment income or capital gain thresholds. This metric aligns the interests of the manager with shareholders by rewarding superior investment performance.