GBDC — Valuation Models

Interactive models with editable assumptions. All calculations run client-side.

Valuation Summary

Model	Intrinsic Value	vs Price ($11.99)
DCF	$1.93	-83.9%
Graham Number	$20.43	+70.4%
Reverse DCF	—	implied g: 12.0%
DDM	$30.90	+157.7%
EV/EBITDA	—	—

Values reflect default assumptions. Adjust inputs in each model below to update.

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $301.43M

Near-term growth (yrs 1–5)(%)Rev: -6.2% / EPS: -41.2%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 2.64%

Computed WACC: 2.64%

Cost of equity (Re)6.72%(Rf 4.30% + β 0.44 × ERP 5.50%)

Cost of debt (Rd)0.00%(no debt / unavailable → 0%)

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)39.28%

Debt weight (D/V)60.72%

Results

Intrinsic Value / share$927.27

Current Price$11.99

Upside / Downside+7633.7%

Net Debt (used)$4.79B

Sensitivity: WACC (rows) × Near-term g (cols)

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$2.10	$6.20	$10.97	$16.49	$22.85
8.0%	$-1.51	$1.79	$5.62	$10.06	$15.15
9.0%	$-4.01	$-1.26	$1.93	$5.60	$9.83
10.0%	$-5.85	$-3.50	$-0.79	$2.34	$5.94
11.0%	$-7.25	$-5.21	$-2.86	$-0.15	$2.96

2 — Graham Number

Assumptions

MultiplierGraham used 22.5 (15× P/E × 1.5× P/B)

EPS (trailing)($)Yahoo: $1.25

Book Value / share($)Yahoo: $14.84

Results

Graham Number$20.43

Current Price$11.99

Margin of Safety+70.4%

Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 2.64%

Terminal growth rate(%)

Computed WACC: 2.64%

Cost of equity (Re)6.72%(Rf 4.30% + β 0.44 × ERP 5.50%)

Cost of debt (Rd)0.00%(no debt / unavailable → 0%)

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)39.28%

Debt weight (D/V)60.72%

Results

Current Price$11.99

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth-6.2%

Historical Earnings Growth-41.2%

Base FCF (TTM)$301.43M

Implied growth is the FCF growth rate (yrs 1–5) that makes the DCF intrinsic value equal the current price. Long-term growth is set to half the implied near-term rate.

4 — Dividend Discount Model (DDM)

Assumptions

Annual dividend D0($/share)Yahoo: $1.50

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$30.90

Current Price$11.99

Upside / Downside+157.7%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: $4.79B

Results

Implied Equity Value / share$-18.18

Current Price$11.99

Upside / Downside-251.6%

Implied EV$0

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