Which has the lower trailing P/E, GBDC or NMIH?

NMIH has the lower trailing P/E: GBDC trades at 22.23 and NMIH at 7.78. P/E is one valuation measure and does not by itself establish which business is cheaper.

Which has grown faster, GBDC or NMIH?

Over the past five years, GBDC grew revenue faster — GBDC at a 10.39% CAGR versus NMIH at 10.07%.

Does GBDC or NMIH pay a bigger dividend?

GBDC pays a dividend (11.15% yield), while NMIH has no payments in the available dividend history.

Is GBDC or NMIH more profitable?

NMIH runs the higher net margin — GBDC at 20.51% versus NMIH at 54.12%.

How have GBDC and NMIH total returns compared?

Over the past 10 years, GBDC delivered 5.25% and NMIH delivered 17.83% annualized total return. Past performance doesn't predict future results.

Golub Capital BDC, Inc. (GBDC) vs NMI Holdings, Inc. (NMIH)

A side-by-side comparison of Golub Capital BDC, Inc. and NMI Holdings, Inc. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of October 6, 2026. Differences are shown without an overall score or investment verdict.

GBDC

Golub Capital BDC, Inc.

$3.18B

$12.23Financial ServicesDelayed quote: Oct 6, 2026, 3:45 PM EDT

NMIH

NMI Holdings, Inc.

$3.00B

$39.54Financial ServicesDelayed quote: Oct 6, 2026, 3:45 PM EDT

Total return — GBDC vs NMIH

growth of $100 · dividends reinvested · last 10y

GBDC +66.0% (+5.2%/yr)NMIH +424.5% (+18.0%/yr)NMIH compounded faster over this window

GBDC NMIH

GBDC vs NMIH: by the numbers

•GBDC is the larger company ($3.18B vs $3.00B market cap).
•NMIH trades at the lower trailing earnings multiple (7.78 vs 22.23 P/E), one valuation lens rather than an overall verdict.
•NMIH converts more revenue to profit (54.12% vs 20.51% net margin).
•GBDC grew revenue faster over the past five years (10.39% vs 10.07% CAGR).
•GBDC pays a dividend (11.15% yield), while NMIH has no payments in the available dividend history.

Metrics side by side

Valuation

Metric	GBDC	NMIH
P/E ratio	22.23	7.78
Forward P/E	9.56	7.51
PEG ratio	0.72	0.43
P/S ratio	4.45	4.11
P/B ratio	0.86	1.11

Profitability

Metric	GBDC	NMIH
Gross margin	74.39%	N/A
Operating margin	78.94%	69.36%
Net margin	20.51%	54.12%
ROE	3.96%	14.61%

NMI Holdings, Inc.: Gross margin is not shown for a lender or insurer: its revenue is interest, premiums and fees rather than the sale of goods, so there is no cost of goods sold to measure it against.

Dividends

Metric	GBDC	NMIH
Dividend yield	11.15%	N/A
Payout ratio	250.91%	N/A

Growth (annualized)

Metric	GBDC	NMIH
Revenue CAGR (5Y)	10.39%	10.07%
EPS CAGR (5Y)	30.87%	17.89%
Total return CAGR (5Y)	5.49%	11.48%

Frequently asked

Which has the lower trailing P/E, GBDC or NMIH?: NMIH has the lower trailing P/E: GBDC trades at 22.23 and NMIH at 7.78. P/E is one valuation measure and does not by itself establish which business is cheaper.
Which has grown faster, GBDC or NMIH?: Over the past five years, GBDC grew revenue faster — GBDC at a 10.39% CAGR versus NMIH at 10.07%.
Does GBDC or NMIH pay a bigger dividend?: GBDC pays a dividend (11.15% yield), while NMIH has no payments in the available dividend history.
Is GBDC or NMIH more profitable?: NMIH runs the higher net margin — GBDC at 20.51% versus NMIH at 54.12%.
How have GBDC and NMIH total returns compared?: Over the past 10 years, GBDC delivered 5.25% and NMIH delivered 17.83% annualized total return. Past performance doesn't predict future results.

Go deeper

Full GBDC analysis Full NMIH analysis Interactive comparison tool

Dig into the metrics

Golub Capital BDC P/E ratio NMI P/E ratio Golub Capital BDC dividend yield Golub Capital BDC ROE NMI ROE Golub Capital BDC operating margin NMI operating margin Golub Capital BDC revenue growth NMI revenue growth

Golub Capital BDC & NMI appear in these rankings

Highest Dividend Yield Stocks Highest Operating Margin Stocks Highest 10-Year Total Return Stocks Lowest P/E Ratio Stocks

Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified October 6, 2026.