Golub Capital BDC, Inc. (GBDC) vs WisdomTree, Inc. (WT)

Golub Capital BDC, Inc. and WisdomTree, Inc. are both Asset Management companies. Golub Capital BDC, Inc. and WisdomTree, Inc. are of similar size ($3.3B and $3.2B). Golub Capital BDC, Inc. trades at the lower P/E: 18.6× against 38.1×. WisdomTree, Inc. grew revenue faster over the last twelve months: 37.1% against −8.73%. Golub Capital BDC, Inc. has the higher net margin (21.5% vs 13.2%) and the lower return on invested capital (2.81% vs 12.3%). Both pay a dividend; Golub Capital BDC, Inc. yields more (11.4% vs 0.56%). Across the 20 metrics below, Golub Capital BDC, Inc. leads on 13 and WisdomTree, Inc. on 7.

Valuation

Metric GBDC WT Asset Management median
P/E 18.65 38.11 13.99
P/S 3.94 5.22 2.76
P/B 0.85 7.60 0.85
Price to free cash flow 3.43 16.53 8.32
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 5.36% 2.62% 4.72%
Free cash flow yield 29.13% 6.05% 4.44%

Profitability

Metric GBDC WT Asset Management median
Gross margin 100.00% 100.00% 100.00%
Operating margin 78.18% 38.80% 33.42%
Net margin 21.45% 13.15% 13.37%
Free cash flow margin 114.85% 31.55% 12.36%
Return on equity 4.46% 18.56% 4.79%
Return on assets 1.95% 5.91% 1.55%
Return on invested capital 2.81% 12.33% 2.97%

Growth

Metric GBDC WT Asset Management median
Revenue growth (TTM) (8.73%) 37.14% 7.42%
EPS growth (last fiscal year) 4.41% 127.27% (6.67%)
Revenue growth, 5-year CAGR 23.84% 14.59% 12.51%
Net income growth, 5-year CAGR 47.00% 0.00% 0.00%

Health

Metric GBDC WT Asset Management median
Debt to equity 1.22 2.57 0.44
Current ratio 1.33 3.00 1.30
Net debt to EBITDA 6.94 3.51 1.02

Dividend

Metric GBDC WT Asset Management median
Dividend yield 11.39% 0.56% 6.60%
Payout ratio 2.12 0.23 0.94

Size

Metric GBDC WT Asset Management median
Market cap 3.19b 3.27b 694.86m

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