Golub Capital Middle Market Report
Featuring the Golub Capital Altman Index
The Golub Capital Middle Market Report is designed to offer early insight into the performance of the U.S. economy, based on data from the first two months of each calendar quarter. Given that the Q1 2020 report is based on data from January and February and does not reflect the economic impact of the COVID-19 pandemic in March, we do not believe this quarter’s report provides actionable insight about current conditions.
The Golub Capital Altman Index data for Q1 2020 is presented solely for the purpose of continuity.
Golub Capital Altman Index Highlights
|Year-Over-Year ("YoY") Growth||Revenue||Earnings|
|Key Sectors Q1 2020 (YoY)||Revenue||Earnings|
Source: Bloomberg and Golub Capital Internal Data.
About the Golub Capital Altman Index
Professor Altman has published or edited two-dozen books and over 150 articles in scholarly finance, accounting and economic journals. He has been inducted into the Fixed Income Analysts Society Hall of Fame, served as President of the Financial Management Association, was an FMA Fellow, and was amongst the inaugural inductees into the Turnaround Management Association Hall of Fame. He received his MBA and Ph.D. in Finance from the University of California, Los Angeles.
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- The Golub Capital Altman Index (GCAI) data for Q2 2021 are presented solely for the purpose of continuity. Readers are encouraged to interpret the data from those periods with caution. The GCAI is designed to offer early insight into the performance of the U.S. economy, based on data from the first two months of each calendar quarter. GCAI results for Q2 2021 were based on data from April and May 2021 compared to April and May 2020, when many businesses were affected by lockdowns and other restrictions.
- Effective Q2 2022, the Golub Capital Altman Index (GCAI) excludes Golub Capital portfolio companies that have recurring revenue-based credit facilities. The data referenced herein may not reflect all companies in the loan portfolio of Golub Capital during the time periods indicated.