Goldman Sachs BDC

GSBD

Market cap $1.1B

NEW YORK--(BUSINESS WIRE)--Goldman Sachs BDC, Inc. (“GS BDC”) (NYSE: GSBD) announced today that it will report its first quarter ended March 31, 2026 financial results after the market closes on Thursday, May 7, 2026. GS BDC will also host an earnings conference call on Friday, May 8, 2026 at 9:00 am Eastern Time to discuss its financial results. All interested parties are invited to participate via telephone or the audio webcast, which will be hosted on the Investor Resources section of GS BDC.

Goldman Sachs BDC remains a hold as persistent high interest rates and weak new investment activity suppress growth potential. GSBD trades at its deepest-ever 28.6% discount to NAV, reflecting ongoing portfolio headwinds despite a 15.8% dividend yield covered by earnings. Net investment income and total investment income declined year-over-year, with NAV eroding for five consecutive quarters amid muted portfolio expansion.

Goldman Sachs BDC trades at a nearly 30% discount to NAV, offering compelling valuation despite mixed fundamentals. GSBD's income is declining, with NII per share down over 20% and rising reliance on less reliable PIK income. Credit metrics are mixed: non-accruals improved, but watchlist loans increased and leverage is rising, narrowing the margin for error.

Two popular BDCs offer sky-high yields and deep discounts to NAV after the recent sector-wide sell-off. One is a very attractive "Buy," while I am avoiding the other one. I detail how to sort the wheat from the chaff when analyzing deep value BDC opportunities like GBDC and FSK.

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout.

This high-yield sector is being taken to the woodshed by the Wall Street spreadsheet jockeys this year.

Goldman Sachs BDC (GSBD) likely saw its peak in net investment income, with a 20%+ NII contraction and rising non-accruals in Q4'25. GSBD restored dividend coverage to more than 100%, but maintains only a small safety margin amid portfolio shrinkage and higher non-performing loans. Shares trade at a 26% NAV discount (P/NAV 0.74X), reflecting elevated credit risk and concerns over loan quality, especially in SaaS exposure.

Goldman Sachs BDC (GSBD) Q4 2025 Earnings Call Transcript

Goldman Sachs BDC (GSBD) came out with quarterly earnings of $0.37 per share, beating the Zacks Consensus Estimate of $0.36 per share. This compares to earnings of $0.47 per share a year ago.

NEW YORK--(BUSINESS WIRE)--Goldman Sachs BDC, Inc. (“GSBD”, the “Company”, “we”, “us”, or “our”) (NYSE: GSBD) today reported financial results for the fourth quarter and year ended December 31, 2025 and filed its Form 10-K with the U.S. Securities and Exchange Commission. QUARTERLY HIGHLIGHTS Net investment income and adjusted net investment income per share for the quarter ended December 31, 2025 was $0.37, equating to an annualized net investment income yield on book value of 11.7%.1 Earnings.