The following spreadsheet is provided to give one more valuation metric on the case for buying CGBD. In my latest article - Identifying Low Risk In BDCs: The Carlyle Group BDC - I did not provide a spreadsheet for Price/Earnings (or Price/NII). I have put the ratios for the four main low PWAY stocks (CGBD, GBDC, PFLT and SUNS . . and I added "don't touch that" OSCI) in 'negative image' to make it easy to do that comparison. The Carlyle Group BDC (CGBD) has the lowest ratio in the group.