KBDC vs GBDC

For growth investors, Golub Capital BDC, Inc.

(GBDC) is the stronger pick with 42. 5% revenue growth year-over-year, versus 29. 9% for Kayne Anderson BDC, Inc. (KBDC). Kayne Anderson BDC, Inc. (KBDC) offers the better valuation at 9. 1x trailing P/E (9. 5x forward), making it the more compelling value choice. Analysts rate Kayne Anderson BDC, Inc. (KBDC) a "Buy" — based on 4 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

On trailing P/E, Kayne Anderson BDC, Inc.

(KBDC) is the cheapest at 9. 1x versus Golub Capital BDC, Inc. at 9. 4x. On forward P/E, Golub Capital BDC, Inc. is actually cheaper at 9. 3x — notably different from the trailing picture, reflecting expected earnings growth.

Over the past 5 years, Golub Capital BDC, Inc.

(GBDC) delivered a total return of +33. 5%, compared to +15. 2% for Kayne Anderson BDC, Inc. (KBDC). Over 10 years, the gap is even starker: GBDC returned +61. 2% versus KBDC's +15. 2%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

By beta (market sensitivity over 5 years), Kayne Anderson BDC, Inc.

(KBDC) is the lower-risk stock at 0. 56β versus Golub Capital BDC, Inc. 's 0. 64β — meaning GBDC is approximately 14% more volatile than KBDC relative to the S&P 500.

By revenue growth (latest reported year), Golub Capital BDC, Inc.

(GBDC) is pulling ahead at 42. 5% versus 29. 9% for Kayne Anderson BDC, Inc. (KBDC). On earnings-per-share growth, the picture is similar: Golub Capital BDC, Inc. grew EPS 4. 4% year-over-year, compared to -19. 3% for Kayne Anderson BDC, Inc.. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

Golub Capital BDC, Inc.

(GBDC) is the more profitable company, earning 43. 2% net margin versus 0. 0% for Kayne Anderson BDC, Inc. — meaning it keeps 43. 2% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: GBDC leads at 78. 9% versus 0. 0% for KBDC. At the gross margin level — before operating expenses — GBDC leads at 81. 5%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

On forward earnings alone, Golub Capital BDC, Inc.

(GBDC) trades at 9. 3x forward P/E versus 9. 5x for Kayne Anderson BDC, Inc. — 0. 2x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for GBDC: 7. 7% to $14. 33.

All stocks in this comparison pay dividends.

Golub Capital BDC, Inc. (GBDC) offers the highest yield at 10. 4%, versus 0. 6% for Kayne Anderson BDC, Inc. (KBDC).

For long-horizon retirement investors, Kayne Anderson BDC, Inc.

(KBDC) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 56), 0. 6% yield). Both have compounded well over 10 years (KBDC: +15. 2%, GBDC: +61. 2%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

Both stocks operate in the Financial Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.