Hagerty vs Golub Capital BDC

This page compares Hagerty Inc and Golub Capital BDC Inc, examining their business models, financial performance, and market context. It presents a neutral overview of how each company operates, their revenue drivers, risk factors, and positioning within the broader industry landscape. Educational content, not financial advice.

This page compares Hagerty Inc and Golub Capital BDC Inc, examining their business models, financial performance, and market context. It presents a neutral overview of how each company operates, their...

About The Companies

Hagerty (HGTY)

Hagerty Inc. (HGTY) specialises in insurance and services for classic, collector and enthusiast vehicles, combining underwriting, membership subscriptions, pricing tools, media and marketplace activities. With a market capitalisation near $3.85B, the business aims to monetise a passionate community through recurring premiums, membership fees and ancillary products such as valuations and events. Investors should note the diversified revenue mix can help growth but also depends on consumer discretionary spending, interest in classic vehicles and successful scaling of non-insurance services. Profitability and cash flow can vary with claims experience, catastrophe exposure and investment in growth initiatives. Competition comes from specialty insurers and digital marketplaces. Key risks include concentration in a niche market, regulatory changes in insurance, and sensitivity to economic cycles. This is general educational information, not personalised advice; any investment decision should consider your financial situation and risk tolerance, and it’s possible to lose capital.

Golub Capital BDC (GBDC)

Golub Capital BDC Inc (GBDC) is a US‑listed business development company (BDC) that provides credit to middle‑market companies, primarily through senior secured and unitranche loans. Managed by Golub Capital, the company focuses on floating‑rate private credit originated to private equity‑backed firms, aiming to generate current income for shareholders. With a market capitalisation of about $3.75bn, GBDC offers exposure to private credit outside the traditional banking system, including potential yield advantages compared with plain‑vanilla bonds. Investors should be aware of interest‑rate sensitivity (many loans are floating‑rate), credit and liquidity risk, and share‑price volatility that can come from widening credit spreads or capital‑markets moves. As a BDC, it distributes a large portion of income as dividends, but payouts depend on net investment income and portfolio performance. This is educational information only, not personal advice — consider your risk tolerance and consult a financial adviser before investing.

Comparison Snapshot

Key Financial Metrics

HGTY

Metric

GBDC

$4.42B

Market Cap

$3.75B

5.01%

Potential Profit

7.37%

Hold

Analyst Rating

Buy

Which Baskets Do They Appear In?

Information Asymmetry Arbitrageurs

These companies build their success on knowing more than their customers. Our analysts have selected businesses that create lasting value from proprietary data and analytical advantages in complex markets like credit scoring, auto sales, and insurance.

Published: June 17, 2025

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Which Baskets Do They Appear In?

Information Asymmetry Arbitrageurs

These companies build their success on knowing more than their customers. Our analysts have selected businesses that create lasting value from proprietary data and analytical advantages in complex markets like credit scoring, auto sales, and insurance.

Published: June 17, 2025

Explore Basket

Investment Analysis

Hagerty

HGTY

Pros

Hagerty has raised its full year 2025 revenue outlook to 14-15% growth, reflecting strong demand for collector car insurance and enthusiast services.
The company reported net income growth guidance of 58-65% for 2025, indicating improved profitability and operational efficiency.
Hagerty's unique membership model and automotive enthusiast platform deepen customer engagement and support recurring revenue streams.

Considerations

Hagerty's earnings declined by 44% in 2024 despite revenue growth, raising concerns about cost management and margin pressure.
The company's high forward PE ratio suggests elevated valuation, which may limit upside if growth expectations are not met.
Hagerty's business is exposed to cyclical trends in the collector car market, which can affect insurance demand and membership renewals.

Golub Capital BDC

GBDC

Pros

Golub Capital BDC invests primarily in first lien senior secured loans, which historically have delivered resilient returns and low credit losses.
The company benefits from a diversified portfolio of middle-market companies backed by private equity sponsors, reducing concentration risk.
Golub Capital BDC's externally managed structure and alignment with a leading private credit manager support strong underwriting standards.

Considerations

As a business development company, Golub Capital BDC is exposed to interest rate fluctuations, which can impact net investment income.
The company's investments are concentrated in below-investment-grade loans, increasing credit risk during economic downturns.
Golub Capital BDC's returns depend on the performance of middle-market companies, which may be sensitive to broader economic cycles.

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About The Companies

Comparison Snapshot

Which Baskets Do They Appear In?

Information Asymmetry Arbitrageurs

Which Baskets Do They Appear In?

Information Asymmetry Arbitrageurs

Investment Analysis

Hagerty

Pros

Considerations

Golub Capital BDC

Pros

Considerations

Why invest with Nemo?

Zero Commission

Trusted & Regulated

6% Interest on Cash

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Frequently asked questions

About The Companies

Comparison Snapshot

Hagerty vs Golub Capital BDC

About The Companies

Comparison Snapshot

Which Baskets Do They Appear In?

Information Asymmetry Arbitrageurs

Which Baskets Do They Appear In?

Information Asymmetry Arbitrageurs

Investment Analysis

Hagerty

Pros

Considerations

Golub Capital BDC

Pros

Considerations

Why invest with Nemo?

Zero Commission

Trusted & Regulated

6% Interest on Cash

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Frequently asked questions

What is the key difference between Hagerty’s business model and Golub Capital BDC’s investment strategy?

How should I interpret revenue growth versus earnings growth in these two stocks?

What role does valuation play when comparing these two stocks?

What are the main risk factors to consider for Hagerty?

What are the main risk factors to consider for Golub Capital BDC?

How does each stock generate value for investors?

In what market conditions might these stocks perform differently?

How do macroeconomic factors affect the two companies differently?

What should a beginner look at on a stock comparison page beyond headlines?

What is the educational disclaimer for using this page?

About The Companies

Comparison Snapshot