Overview Dividends

(GSBD) Goldman Sachs BDC - Ratings and Ratios

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US38147U1079

Senior Debt, Mezzanine Debt, Unitranche, Equity, Middle Market

EPS (Earnings per Share)

EPS CAGR: -15.71%
EPS Trend: -70.1%

Last SUE: 0.96σ
Qual. Beats: 1

Revenue

Revenue CAGR: 20.12%
Revenue Trend: -1.4%

Last SUE: -0.36σ
Qual. Beats: 0

Risk via 10d forecast
Volatility	16.1%
Value at Risk 5%th	27.0%
Relative Tail Risk	1.71%

Reward TTM
Sharpe Ratio	-0.59
Alpha	-20.17

Character TTM
Hurst Exponent	0.525
Beta	0.645
Beta Downside	0.710

Drawdowns 3y
Max DD	29.59%
Mean DD	9.96%
Median DD	9.74%

Description: GSBD Goldman Sachs BDC November 11, 2025

Goldman Sachs BDC Inc. (GSBD) is a U.S.–focused business development company that targets middle-market and mezzanine financing for privately held firms. It originates a mix of secured (first-lien, unitranche, second-lien) and unsecured (mezzanine) debt, with occasional equity stakes, typically investing $10-$75 million in companies generating $5-$75 million of EBITDA.

Key industry metrics that shape GSBD’s outlook include: (1) the U.S. middle-market loan market, which has grown ~8 % YoY in 2024, expanding the pipeline of eligible borrowers; (2) the average portfolio yield for BDCs, currently around 9.5 % after-tax, reflecting higher credit spreads amid a still-elevated Fed funds rate; and (3) default rates in the mezzanine segment, which remain low (~2 % annualized) but are sensitive to any slowdown in corporate earnings growth. These drivers suggest that GSBD’s performance will be closely tied to macro-credit conditions and the health of U.S. private-company earnings.

For a deeper, data-driven dive into GSBD’s valuation and risk profile, you may find the analytics on ValueRay useful as a next step in your research.

GSBD Stock Overview

Market Cap in USD	1,097m
Sub-Industry	Asset Management & Custody Banks
IPO / Inception	2015-03-18
Return 12m vs S&P 500	-23.0%
Analyst Rating	2.50 of 5

GSBD Dividends

Metric	Value
Dividend Yield	20.14%
Yield on Cost 5y	19.88%
Yield CAGR 5y	0.00%
Payout Consistency	96.1%
Payout Ratio	62.8%

GSBD Growth Ratios

Metric	Value
CAGR 3y	-1.37%
CAGR/Max DD Calmar Ratio	-0.05
CAGR/Mean DD Pain Ratio	-0.14
Current Volume	1415.1k
Average Volume	1277.9k

Piotroski VR‑10 (Strict, 0-10) 6.0

Net Income (133.1m TTM) > 0 and > 6% of Revenue (6% = 17.5m TTM)

FCFTA 0.05 (>2.0%) and ΔFCFTA -0.20pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 22.85% (prev 12.12%; Δ 10.74pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.05 (>3.0%) and CFO 158.5m > Net Income 133.1m (YES >=105%, WARN >=100%)

Net Debt (-115.2m) to EBITDA (173.4m) ratio: -0.66 <= 3.0 (WARN <= 3.5)

Current Ratio 1.90 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (114.4m) change vs 12m ago -2.18% (target <= -2.0% for YES)

Gross Margin 62.08% (prev 44.34%; Δ 17.75pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 8.41% (prev 5.78%; Δ 2.63pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 0.55 (EBITDA TTM 173.4m / Interest Expense TTM 110.5m) >= 6 (WARN >= 3)

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 (Balance) -454.3m / Total Assets 3.39b

(D) -0.24 = Book Value of Equity -454.2m / Total Liabilities 1.93b

Total Rating: -0.44 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 59.78

1. Piotroski 6.0pt

2. FCF Yield 5.44%

3. FCF Margin 54.37%

4. Debt/Equity 1.33

5. Debt/Ebitda -0.66

6. ROIC - WACC (= -2.19)%

7. RoE 8.74%

8. Rev. Trend -1.39%

9. EPS Trend -70.10%

What is the price of GSBD shares?

As of November 26, 2025, the stock is trading at USD 9.78 with a total of 1,415,095 shares traded.
Over the past week, the price has changed by +3.27%, over one month by -2.59%, over three months by -9.25% and over the past year by -11.92%.

Is GSBD a buy, sell or hold?

Goldman Sachs BDC has received a consensus analysts rating of 2.50. Therefor, it is recommend to sell GSBD.

Strong Buy: 0
Buy: 0
Hold: 3
Sell: 0
Strong Sell: 1

What are the forecasts/targets for the GSBD price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	10.3	4.8%
Analysts Target Price	10.3	4.8%
ValueRay Target Price	11.7	19.1%

GSBD Fundamental Data Overview November 25, 2025

Market Cap USD = 1.10b (1.10b USD * 1.0 USD.USD)
P/E Trailing = 8.3565
P/E Forward = 10.7759
P/S = 2.861
P/B = 0.7538
P/EG = 2.15
Beta = 0.678
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 = 2.91b USD (1.10b + Debt 1.93b - CCE 115.2m)
Interest Coverage Ratio = 0.55 (Ebit TTM 61.3m / Interest Expense TTM 110.5m)
FCF Yield = 5.44% (FCF TTM 158.5m / Enterprise Value 2.91b)
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 = 0.86 (Enterprise Value 2.91b / 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 = 3.93% (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 = 3.93% (E(1.10b)/V(3.03b) * Re(8.39%) + D(1.93b)/V(3.03b) * Rd(1.46%) * (1-Tc(0.04)))
Discount Rate = 8.39% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 33.33 | Cagr: 2.18%
[DCF Debug] Terminal Value 78.45% ; FCFE base≈164.3m ; Y1≈181.0m ; Y5≈233.0m
Fair Price DCF = 33.25 (DCF Value 3.79b / Shares Outstanding 114.1m; 5y FCF grow 11.65% → 3.0% )
EPS Correlation: -70.10 | EPS CAGR: -15.71% | SUE: 0.96 | # QB: 1
Revenue Correlation: -1.39 | Revenue CAGR: 20.12% | SUE: -0.36 | # QB: 0

Additional Sources for GSBD Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
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