HomeCompareGBDC vs HESM

GBDC vs HESM: Dividend Comparison 2026

GBDC yields 11.86% · HESM yields 7.51%● Live data

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After 10 years · $10,000 invested · DRIP enabled
🏆 HESM wins by $2.94M in total portfolio value· pulled ahead in Year 10
10 years
GBDC
GBDC
● Live price
11.86%
Share price
$12.65
Annual div
$1.50
5Y div CAGR
51.1%
Payout ratio
50%
After 10 yrs · $10,000 · DRIP
Portfolio value
$20.85M
Annual income
$16,450,733.83
Full GBDC calculator →
HESM
HESM
● Live price
7.51%
Share price
$39.50
Annual div
$2.97
5Y div CAGR
62%
Payout ratio
50%
After 10 yrs · $10,000 · DRIP
Portfolio value
$23.79M
Annual income
$19,655,759.86
Full HESM calculator →

Portfolio growth — GBDC vs HESM

📍 HESM pulled ahead of the other in Year 10

Annual dividend income

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Recession Test — Did They Cut Dividends?

How each stock treated shareholders during the 3 biggest crises of the last 20 years

Crisis PeriodGBDCHESM
2008–2009
GFC
— No data— No data
2020 Q1–Q2
COVID
— No data— No data
2022 Q4
Rate Hike
— No data— No data
Based on dividend payment history. "Increased" = dividend grew during crisis. "Maintained" = held within 3%. "Cut" = reduced by more than 3%.
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Dividend Calendar Overlap

Combined, GBDC + HESM cover 0 of 12 monthsgood coverage

Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
GBDC pays
HESM pays
Both pay
Neither
💰

Tax Bracket Optimizer

Which stock is actually better after tax? Adjust your rate to find out.

GBDC
Annual income on $10K today (after 15% tax)
$1,007.91/yr
After 10yr DRIP, annual income (after tax)
$13,983,123.76/yr
HESM
Annual income on $10K today (after 15% tax)
$638.19/yr
After 10yr DRIP, annual income (after tax)
$16,707,395.88/yr
At 15% tax rate, HESM beats the other by $2,724,272.13/year in after-tax income after 10 years on $10,000
⚖️

Lazy Portfolio Split Optimizer

What's the optimal mix of GBDC + HESM for your $10,000?

GBDC: 50%HESM: 50%
100% HESM50/50100% GBDC
Portfolio after 10yr
$22.32M
Annual income
$18,053,246.85/yr
Blended yield
80.88%
📊

Analyst Conviction Gap

Where Wall Street is most bullish on GBDC right now

GBDC
Analyst Ratings
6
Buy
5
Hold
Consensus: Buy
Price Target
$14.00
+10.7% upside vs current
Range: $13.00 — $15.00
Altman Z
0.6
Piotroski
6/9
HESM
Analyst Ratings
2
Buy
7
Hold
Consensus: Hold
Price Target
$35.00
-11.4% upside vs current
Range: $35.00 — $35.00
Altman Z
2.4
Piotroski
6/9
Analyst ratings via FMP. Altman Z-Score: >3.0 safe, 1.81–3.0 grey zone, <1.81 distress. Piotroski: 7–9 strong, 0–3 weak.
🏛️

Copy Congress — What Are Politicians Buying?

Senate & House STOCK Act disclosures (last 90 days)

GBDC buys
2
HESM buys
0
PoliticianChamberTickerTypeAmountDate
David P. Joyce🏢 House$GBDC▼ Sell$1,001 - $15,0002023-06-30
David P. Joyce🏢 House$GBDC▼ Sell$15,001 - $50,0002023-06-19
David P. Joyce🏢 House$GBDC▼ Sell$15,001 - $50,0002022-07-14
David P. Joyce🏢 House$GBDC▼ Sell$15,001 - $50,0002022-07-12
Teresa Leger Fernandez🏢 House$GBDC▼ Sell$15,001 - $50,0002021-01-20
David P. Joyce🏢 House$GBDC▲ Buy$1,001 - $15,0002020-02-25
David P. Joyce🏢 House$GBDC▲ Buy$15,001 - $50,0002019-05-30
STOCK Act mandates disclosure within 45 days of transaction. Data via FMP.Full tracker →
MetricGBDCHESM
Forward yield11.86%7.51%
Annual dividend / share$1.50$2.97
Payout ratio50%50%
1-year div growth0%0%
5-year div CAGR51.1%62%
Portfolio after 10y$20.85M$23.79M
Annual income after 10y$16,450,733.83$19,655,759.86
Total dividends collected$20.43M$23.42M
Payment frequencyquarterlyquarterly
SectorBDCStock
Analyst consensusBuyHold
Analyst price target$14.00$35.00

Year-by-year: GBDC vs HESM ($10,000, DRIP)

YearGBDC PortfolioGBDC Income/yrHESM PortfolioHESM Income/yrGap
1$12,492$1,791.70$11,916$1,216.31+$576.00GBDC
2$16,527$3,160.58$14,945$2,194.41+$1.6KGBDC
3$23,588$5,904.90$20,158$4,166.77+$3.4KGBDC
4$37,141$11,901.65$30,078$8,509.06+$7.1KGBDC
5$66,205$26,463.38$51,406$19,222.83+$14.8KGBDC
6$137,452$66,612.65$104,746$49,741.23+$32.7KGBDC
7$342,372$195,298.53$265,529$153,450.84+$76.8KGBDC
8$1,053,292$686,954.33$873,062$588,946.10+$180.2KGBDC
9$4,111,439$2,984,416.95$3,866,015$2,931,838.98+$245.4KGBDC
10← crossover$20,849,974$16,450,733.83$23,792,396$19,655,759.86$2.94MHESM

GBDC vs HESM: Complete Analysis 2026

GBDCBDC

Golub Capital BDC, Inc. (GBDC) is a business development company and operates as an externally managed closed-end non-diversified management investment company. It invests in debt and minority equity investments in middle-market companies that are, in most cases, sponsored by private equity investors. It typically invests in diversified consumer services, automobiles, healthcare technology, insurance, health care equipment and supplies, hotels, restaurants and leisure, healthcare providers and services, IT services and specialty retails. It seeks to invest in the United States. It primarily invests in first lien traditional senior debt, first lien one stop, junior debt and equity, senior secured, one stop, unitranche, second lien, subordinated and mezzanine loans of middle-market companies, and warrants.

Full GBDC Calculator →

HESMStock

Hess Midstream LP owns, develops, operates, and acquires midstream assets. The company operates through three segments: Gathering; Processing and Storage; and Terminaling and Export. The Gathering segment owns natural gas gathering and compression; crude oil gathering systems; and produced water gathering and disposal facilities. Its gathering systems consists of approximately 1,350 miles of high and low pressure natural gas and natural gas liquids gathering pipelines with capacity of approximately 450 million cubic feet per day; and crude oil gathering system comprises approximately 550 miles of crude oil gathering pipelines. The Processing and Storage segment comprises Tioga Gas Plant, a natural gas processing and fractionation plant located in Tioga, North Dakota; a 50% interest in the Little Missouri 4 gas processing plant located in south of the Missouri River in McKenzie County, North Dakota; and Mentor Storage Terminal, a propane storage cavern and rail, and truck loading and unloading facility located in Mentor, Minnesota. The Terminaling and Export segment owns Ramberg terminal facility; Tioga rail terminal; and crude oil rail cars, as well as Johnson's Corner Header System, a crude oil pipeline header system. Hess Midstream LP was founded in 2014 and is based in Houston, Texas.

Full HESM Calculator →
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⚠️ Educational purposes only. Not financial advice. Congressional trades sourced from SEC STOCK Act filings via FMP. Past performance does not guarantee future results.