(GSBD) Goldman Sachs BDC - Overview
Stock: Secured Debt, Mezzanine Debt, Equity Investments
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 17.67% |
| Yield on Cost 5y | 19.30% |
| Yield CAGR 5y | -0.91% |
| Payout Consistency | 96.4% |
| Payout Ratio | 75.0% |
| Risk 5d forecast | |
|---|---|
| Volatility | 17.8% |
| Relative Tail Risk | 0.97% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.84 |
| Alpha | -27.03 |
| Character TTM | |
|---|---|
| Beta | 0.647 |
| Beta Downside | 0.705 |
| Drawdowns 3y | |
|---|---|
| Max DD | 29.59% |
| CAGR/Max DD | -0.11 |
Description: GSBD Goldman Sachs BDC January 14, 2026
Goldman Sachs BDC Inc. (NYSE: GSBD) is a business-development company that targets middle-market U.S. firms, providing a mix of secured and unsecured debt-including first-lien unitranche, second-lien, and mezzanine structures-and, to a lesser extent, equity stakes. The firm typically deploys $10 million-$75 million per transaction in companies with EBITDA ranging from $5 million to $75 million.
Key sector dynamics: the U.S. BDC market has benefited from a low-default environment, with average portfolio yields hovering around 9-10% in 2023 and a weighted-average leverage ratio near 3.2×, reflecting disciplined credit standards. However, rising Fed rates can compress spreads on senior secured debt, making mezzanine and unitranche products relatively more attractive for yield.
Recent performance indicators: as of Q4 2023, GSBD reported a net asset value (NAV) of approximately $1.2 billion, a 0.8% quarterly dividend yield, and a portfolio turnover rate of roughly 12%, indicating a focus on longer-duration holdings. The company’s exposure is heavily weighted toward technology-enabled services and healthcare services-sectors that have shown resilient cash flow generation amid macro-uncertainty.
Given the firm’s niche focus and the broader credit-cycle outlook, investors should monitor the Fed’s policy path and corporate earnings trends in the $5-75 million EBITDA band to gauge future capital-appreciation potential. For a deeper dive into valuation metrics and scenario analysis, check out ValueRay’s GSBD profile.
Piotroski VR‑10 (Strict, 0-10) 6.0
| Net Income: 133.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA -0.20 > 1.0 |
| NWC/Revenue: 22.85% < 20% (prev 12.12%; Δ 10.74% < -1%) |
| CFO/TA 0.05 > 3% & CFO 158.5m > Net Income 133.1m |
| Net Debt (-115.2m) to EBITDA (173.4m): -0.66 < 3 |
| Current Ratio: 1.90 > 1.5 & < 3 |
| Outstanding Shares: last quarter (114.4m) vs 12m ago -2.18% < -2% |
| Gross Margin: 62.08% > 18% (prev 0.44%; Δ 6164 % > 0.5%) |
| Asset Turnover: 8.41% > 50% (prev 5.78%; Δ 2.63% > 0%) |
| Interest Coverage Ratio: 0.55 > 6 (EBITDA TTM 173.4m / Interest Expense TTM 110.5m) |
Altman Z'' -0.44
| A: 0.02 (Total Current Assets 140.7m - Total Current Liabilities 74.1m) / Total Assets 3.39b |
| B: -0.13 (Retained Earnings -454.3m / Total Assets 3.39b) |
| C: 0.02 (EBIT TTM 61.3m / Avg Total Assets 3.47b) |
| D: -0.24 (Book Value of Equity -454.2m / Total Liabilities 1.93b) |
| Altman-Z'' Score: -0.44 = B |
What is the price of GSBD shares?
Over the past week, the price has changed by -2.34%, over one month by +0.22%, over three months by -1.90% and over the past year by -15.00%.
Is GSBD a buy, sell or hold?
- StrongBuy: 0
- Buy: 0
- Hold: 3
- Sell: 0
- StrongSell: 1
What are the forecasts/targets for the GSBD price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 10.3 | 12.1% |
| Analysts Target Price | 10.3 | 12.1% |
| ValueRay Target Price | 10.9 | 18.3% |
GSBD Fundamental Data Overview February 03, 2026
P/E Forward = 10.7759
P/S = 2.8044
P/B = 0.7373
P/EG = 2.15
Revenue TTM = 291.4m USD
EBIT TTM = 61.3m USD
EBITDA TTM = 173.4m USD
Long Term Debt = unknown (none)
Short Term Debt = 359.8m USD (from shortTermDebt, last fiscal year)
Debt = 1.93b USD (from shortLongTermDebtTotal, last fiscal year)
Net Debt = -115.2m USD (from netDebt column, last quarter)
Enterprise Value = 2.89b USD (1.07b + Debt 1.93b - CCE 115.2m)
Interest Coverage Ratio = 0.55 (Ebit TTM 61.3m / Interest Expense TTM 110.5m)
EV/FCF = 18.23x (Enterprise Value 2.89b / FCF TTM 158.5m)
FCF Yield = 5.48% (FCF TTM 158.5m / Enterprise Value 2.89b)
FCF Margin = 54.37% (FCF TTM 158.5m / Revenue TTM 291.4m)
Net Margin = 45.67% (Net Income TTM 133.1m / Revenue TTM 291.4m)
Gross Margin = 62.08% ((Revenue TTM 291.4m - Cost of Revenue TTM 110.5m) / Revenue TTM)
Gross Margin QoQ = 49.69% (prev 61.64%)
Tobins Q-Ratio = 0.85 (Enterprise Value 2.89b / Total Assets 3.39b)
Interest Expense / Debt = 1.46% (Interest Expense 28.1m / Debt 1.93b)
Taxrate = 3.73% (956.0k / 25.7m)
NOPAT = 59.0m (EBIT 61.3m * (1 - 3.73%))
Current Ratio = 1.90 (Total Current Assets 140.7m / Total Current Liabilities 74.1m)
Debt / Equity = 1.33 (Debt 1.93b / totalStockholderEquity, last quarter 1.45b)
Debt / EBITDA = -0.66 (Net Debt -115.2m / EBITDA 173.4m)
Debt / FCF = -0.73 (Net Debt -115.2m / FCF TTM 158.5m)
Total Stockholder Equity = 1.52b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.84% (Net Income 133.1m / Total Assets 3.39b)
RoE = 8.74% (Net Income TTM 133.1m / Total Stockholder Equity 1.52b)
RoCE = 1.85% (EBIT 61.3m / Capital Employed (Total Assets 3.39b - Current Liab 74.1m))
RoIC = 1.74% (NOPAT 59.0m / Invested Capital 3.38b)
WACC = 3.87% (E(1.07b)/V(3.00b) * Re(8.30%) + D(1.93b)/V(3.00b) * Rd(1.46%) * (1-Tc(0.04)))
Discount Rate = 8.30% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 2.18%
[DCF Debug] Terminal Value 87.24% ; FCFF base≈164.3m ; Y1≈181.0m ; Y5≈232.4m
Fair Price DCF = 61.14 (EV 6.86b - Net Debt -115.2m = Equity 6.98b / Shares 114.1m; r=5.90% [WACC]; 5y FCF grow 11.65% → 2.90% )
EPS Correlation: -53.26 | EPS CAGR: -45.50% | SUE: -4.0 | # QB: 0
Revenue Correlation: -2.63 | Revenue CAGR: 3.55% | SUE: -0.36 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.33 | Chg30d=+0.002 | Revisions Net=+0 | Analysts=5
EPS next Year (2026-12-31): EPS=1.31 | Chg30d=+0.004 | Revisions Net=-1 | Growth EPS=-14.9% | Growth Revenue=-11.0%