HomeCompareGBDC vs NMFC

GBDC vs NMFC: Dividend Comparison 2026

GBDC yields 11.86% · NMFC yields 16.80%● Live data

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After 10 years · $10,000 invested · DRIP enabled
🏆 GBDC wins by $20.78M in total portfolio value
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 →
NMFC
NMFC
● Live price
16.80%
Share price
$7.62
Annual div
$1.28
5Y div CAGR
3.1%
Payout ratio
50%
After 10 yrs · $10,000 · DRIP
Portfolio value
$71.4K
Annual income
$7,417.58
Full NMFC calculator →

Portfolio growth — GBDC vs NMFC

📍 GBDC pulled ahead of the other in Year 1

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 PeriodGBDCNMFC
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 + NMFC cover 0 of 12 monthsgood coverage

Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
GBDC pays
NMFC pays
Both pay
Neither
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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
NMFC
Annual income on $10K today (after 15% tax)
$1,427.82/yr
After 10yr DRIP, annual income (after tax)
$6,304.94/yr
At 15% tax rate, GBDC beats the other by $13,976,818.81/year in after-tax income after 10 years on $10,000
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Lazy Portfolio Split Optimizer

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

GBDC: 50%NMFC: 50%
100% NMFC50/50100% GBDC
Portfolio after 10yr
$10.46M
Annual income
$8,229,075.71/yr
Blended yield
78.67%
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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
NMFC
Analyst Ratings
3
Buy
8
Hold
1
Sell
Consensus: Hold
Price Target
$10.00
+31.2% upside vs current
Range: $10.00 — $10.00
Altman Z
0.5
Piotroski
8/9
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.
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Copy Congress — What Are Politicians Buying?

Senate & House STOCK Act disclosures (last 90 days)

GBDC buys
2
NMFC 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 →
MetricGBDCNMFC
Forward yield11.86%16.80%
Annual dividend / share$1.50$1.28
Payout ratio50%50%
1-year div growth0%0%
5-year div CAGR51.1%3.1%
Portfolio after 10y$20.85M$71.4K
Annual income after 10y$16,450,733.83$7,417.58
Total dividends collected$20.43M$40.9K
Payment frequencyquarterlyquarterly
SectorBDCStock
Analyst consensusBuyHold
Analyst price target$14.00$10.00

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

YearGBDC PortfolioGBDC Income/yrNMFC PortfolioNMFC Income/yrGap
1← crossover$12,492$1,791.70$12,432$1,731.86+$60.00GBDC
2$16,527$3,160.58$15,377$2,074.55+$1.1KGBDC
3$23,588$5,904.90$18,925$2,472.44+$4.7KGBDC
4$37,141$11,901.65$23,182$2,932.14+$14.0KGBDC
5$66,205$26,463.38$28,266$3,460.76+$37.9KGBDC
6$137,452$66,612.65$34,310$4,065.84+$103.1KGBDC
7$342,372$195,298.53$41,467$4,755.41+$300.9KGBDC
8$1,053,292$686,954.33$49,908$5,537.91+$1.00MGBDC
9$4,111,439$2,984,416.95$59,824$6,422.20+$4.05MGBDC
10$20,849,974$16,450,733.83$71,429$7,417.58+$20.78MGBDC

GBDC vs NMFC: 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 →

NMFCStock

New Mountain Finance Corporation (Nasdaq: NMFC), a business development company is a private equity / buyouts and loan fund specializes in directly investing and lending to middle market companies in defensive growth industries. The fund prefers investing in buyout and middle market companies. It also makes investments in debt securities at all levels of the capital structure including first and second lien debt, unsecured notes and mezzanine securities. In some cases, its investments may also include equity interests. It targets energy, specialty chemicals and materials, trading companies and distributors, commercial printing, diversified support services, education services, environmental and facilities services, office services and supplies, media, distributors, health care services, health care facilities, application software, business services, systems software, federal services, distribution and logistics, interactive home entertainment, telecommunication services, hydroelectric power generation, electric power generation by fossil fuels, electric power generation by nuclear fuels, health care technology, and security and alarm services. The fund seeks to invest in United States of America. It seeks to invest between $10 million and $50 million per transaction. The firm invests through both primary originations and open-market secondary purchases. It invests in companies with EBITDA between $10 million and $200 million and target investments up to a $125 million hold size. The fund seeks a majority stake in its portfolio companies.

Full NMFC 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.