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GBDC vs SAP: Dividend Comparison 2026

GBDC yields 11.86% · SAP yields 1.76%● Live data

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After 10 years · $10,000 invested · DRIP enabled
🏆 GBDC wins by $20.79M 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 →
SAP
SAP
● Live price
1.76%
Share price
$168.29
Annual div
$2.97
5Y div CAGR
43.3%
Payout ratio
50%
After 10 yrs · $10,000 · DRIP
Portfolio value
$60.2K
Annual income
$14,866.12
Full SAP calculator →

Portfolio growth — GBDC vs SAP

📍 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 PeriodGBDCSAP
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 + SAP cover 0 of 12 monthsgood coverage

Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
GBDC pays
SAP 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
SAP
Annual income on $10K today (after 15% tax)
$150.01/yr
After 10yr DRIP, annual income (after tax)
$12,636.20/yr
At 15% tax rate, GBDC beats the other by $13,970,487.55/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 + SAP for your $10,000?

GBDC: 50%SAP: 50%
100% SAP50/50100% GBDC
Portfolio after 10yr
$10.46M
Annual income
$8,232,799.98/yr
Blended yield
78.74%
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Analyst Conviction Gap

Where Wall Street is most bullish on SAP 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
SAP
Analyst Ratings
22
Buy
14
Hold
7
Sell
Consensus: Buy
Price Target
$415.33
+146.8% upside vs current
Range: $245.00 — $718.00
Altman Z
6.1
Piotroski
7/9
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
SAP 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 →
MetricGBDCSAP
Forward yield11.86%1.76%
Annual dividend / share$1.50$2.97
Payout ratio50%50%
1-year div growth0%0%
5-year div CAGR51.1%43.3%
Portfolio after 10y$20.85M$60.2K
Annual income after 10y$16,450,733.83$14,866.12
Total dividends collected$20.43M$36.3K
Payment frequencyquarterlyquarterly
SectorBDCStock
Analyst consensusBuyBuy
Analyst price target$14.00$415.33

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

YearGBDC PortfolioGBDC Income/yrSAP PortfolioSAP Income/yrGap
1← crossover$12,492$1,791.70$10,953$252.90+$1.5KGBDC
2$16,527$3,160.58$12,091$370.97+$4.4KGBDC
3$23,588$5,904.90$13,485$548.42+$10.1KGBDC
4$37,141$11,901.65$15,249$819.21+$21.9KGBDC
5$66,205$26,463.38$17,556$1,240.57+$48.6KGBDC
6$137,452$66,612.65$20,698$1,912.91+$116.8KGBDC
7$342,372$195,298.53$25,168$3,020.33+$317.2KGBDC
8$1,053,292$686,954.33$31,848$4,918.38+$1.02MGBDC
9$4,111,439$2,984,416.95$42,412$8,335.30+$4.07MGBDC
10$20,849,974$16,450,733.83$60,247$14,866.12+$20.79MGBDC

GBDC vs SAP: 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 →

SAPStock

SAP SE, together with its subsidiaries, provides applications, technology, and services worldwide. It offers SAP S/4HANA that provides software capabilities for finance, risk and project management, procurement, manufacturing, supply chain and asset management, and research and development; SAP SuccessFactors solutions for human resources, including HR and payroll, talent and employee experience management, and people and workforce analytics; and spend management solutions that covers direct and indirect spend, travel and expense, and external workforce management. The company also provides SAP customer experience solutions; SAP Business Technology platform that enables customers and partners to build, integrate, and automate applications; and SAP Business Network, a business-to-business collaboration platform that helps digitalize key business processes across the supply chain and enables communication between trading partners. In addition, it offers SAP Signavio to help customers to discover, analyze, and understand their business process operations; SAP's industry cloud solutions that provides modular solutions addressing industry-specific functions; Taulia solutions for working capital management to help enable customers mitigate the effects of inflation by providing visibility into working capital and access to liquidity; and sustainability solutions and services. SAP SE was founded in 1972 and is headquartered in Walldorf, Germany.

Full SAP 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.