WallStSmart

Golub Capital BDC Inc (GBDC)vsKKR & Co LP (KKR)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

KKR & Co LP generates 2893% more annual revenue ($25.65B vs $857.08M). GBDC leads profitability with a 38.6% profit margin vs 9.2%. KKR appears more attractively valued with a PEG of 0.39. KKR earns a higher WallStSmart Score of 65/100 (C+).

GBDC

Buy

59

out of 100

Grade: C

Growth: 4.7Profit: 8.0Value: 7.3Quality: 4.5
Piotroski: 5/9Altman Z: 0.56

KKR

Buy

65

out of 100

Grade: C+

Growth: 7.3Profit: 6.5Value: 7.3Quality: 5.0
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

GBDCSignificantly Overvalued (-48.8%)

Margin of Safety

-48.8%

Fair Value

$8.57

Current Price

$12.58

$4.01 premium

UndervaluedFair: $8.57Overvalued
KKRSignificantly Overvalued (-560.3%)

Margin of Safety

-560.3%

Fair Value

$15.91

Current Price

$88.91

$73.00 premium

UndervaluedFair: $15.91Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

GBDC4 strengths · Avg: 10.0/10
P/E RatioValuation
10.0x10/10

Attractively priced relative to earnings

Price/BookValuation
0.8x10/10

Reasonable price relative to book value

Profit MarginProfitability
38.6%10/10

Keeps 39 of every $100 in revenue as profit

Operating MarginProfitability
78.3%10/10

Strong operational efficiency at 78.3%

KKR6 strengths · Avg: 9.2/10
PEG RatioValuation
0.3910/10

Growing faster than its price suggests

Operating MarginProfitability
33.0%10/10

Strong operational efficiency at 33.0%

Revenue GrowthGrowth
76.3%10/10

Revenue surging 76.3% year-over-year

Market CapQuality
$84.19B9/10

Large-cap with strong market position

Price/BookValuation
2.8x8/10

Reasonable price relative to book value

Free Cash FlowQuality
$2.27B8/10

Generating 2.3B in free cash flow

Areas to Watch

GBDC4 concerns · Avg: 2.5/10
PEG RatioValuation
1.514/10

Expensive relative to growth rate

Revenue GrowthGrowth
-6.2%2/10

Revenue declined 6.2%

EPS GrowthGrowth
-41.2%2/10

Earnings declined 41.2%

Altman Z-ScoreHealth
0.562/10

Distress zone — elevated risk

KKR2 concerns · Avg: 3.0/10
P/E RatioValuation
38.9x4/10

Premium valuation, high expectations priced in

EPS GrowthGrowth
-2.2%2/10

Earnings declined 2.2%

Comparative Analysis Report

WallStSmart Research

Bull Case : GBDC

The strongest argument for GBDC centers on P/E Ratio, Price/Book, Profit Margin. Profitability is solid with margins at 38.6% and operating margin at 78.3%.

Bull Case : KKR

The strongest argument for KKR centers on PEG Ratio, Operating Margin, Revenue Growth. Revenue growth of 76.3% demonstrates continued momentum. PEG of 0.39 suggests the stock is reasonably priced for its growth.

Bear Case : GBDC

The primary concerns for GBDC are PEG Ratio, Revenue Growth, EPS Growth.

Bear Case : KKR

The primary concerns for KKR are P/E Ratio, EPS Growth.

Key Dynamics to Monitor

GBDC profiles as a declining stock while KKR is a hypergrowth play — different risk/reward profiles.

KKR carries more volatility with a beta of 2.01 — expect wider price swings.

KKR is growing revenue faster at 76.3% — sustainability is the question.

KKR generates stronger free cash flow (2.3B), providing more financial flexibility.

Bottom Line

KKR scores higher overall (65/100 vs 59/100) and 76.3% revenue growth. Both earn "Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

Golub Capital BDC Inc

FINANCIAL SERVICES · ASSET MANAGEMENT · USA

Golub Capital BDC Inc (ticker: GBDC) is a leading business development company that specializes in providing innovative financing solutions to middle-market companies. Founded in 2001 and publicly traded since 2013, Golub Capital emphasizes investing in senior secured loans, ensuring a diversified portfolio that seeks to deliver compelling risk-adjusted returns. The company is recognized for its strong credit quality and operational resilience, underpinned by a skilled management team and a disciplined investment approach. With a strategic focus on fostering growth among its portfolio entities, Golub Capital represents an appealing opportunity for institutional investors looking for a stable and performance-oriented investment in the alternative asset space.

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KKR & Co LP

FINANCIAL SERVICES · ASSET MANAGEMENT · USA

KKR & Co. LP is a leading global investment firm established in 1976, recognized for its expertise in managing a diversified portfolio across private equity, credit, and real assets. With a strong emphasis on innovative investment strategies and operational excellence, KKR adeptly identifies and leverages complex market opportunities to generate sustainable long-term value. The firm's profound industry knowledge and extensive global network contribute significantly to the growth of its portfolio companies. Additionally, KKR is committed to sustainable investing, actively integrating environmental, social, and governance (ESG) considerations into its strategies, thereby reinforcing its dedication to delivering robust performance for its investors while promoting responsible growth in the financial markets.

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