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 Growth (3y CAGR): -15.71%
EPS Trend (3y Corr): -70.3%

Last SUE: 1.10σ
Qual. Beats: 1

Revenue

Revenue Growth (3y CAGR): 43.83%
Revenue Trend (3y Corr): 1.3%

Last SUE: 0.04σ
Qual. Beats: 0

Risk via 10d forecast
Volatility	19.2%
Value at Risk 5%th	32.0%
Relative Tail Risk	1.56%

Reward TTM
Sharpe Ratio	-0.71
Alpha	-21.47

Character TTM
Hurst Exponent	0.564
Beta	0.639
Beta Downside	0.709

Drawdowns 3y
Max DD	29.59%
Mean DD	9.91%
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	1,119m
Sub-Industry	Asset Management & Custody Banks
IPO / Inception	2015-03-18
Return 12m vs S&P 500	-22.5%
Analyst Rating	2.50 of 5

GSBD Dividends

Metric	Value
Dividend Yield	20.80%
Yield on Cost 5y	20.91%
Yield CAGR 5y	0.00%
Payout Consistency	96.1%
Payout Ratio	61.3%

GSBD Growth Ratios

Metric	Value
CAGR 3y	-3.20%
CAGR/Max DD Calmar Ratio	-0.11
CAGR/Mean DD Pain Ratio	-0.32
Current Volume	1189.8k
Average Volume	1112.7k

Piotroski VR‑10 (Strict, 0-10) 7.0

Net Income (153.7m TTM) > 0 and > 6% of Revenue (6% = 19.6m TTM)

FCFTA 0.13 (>2.0%) and ΔFCFTA 6.02pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 20.36% (prev 12.12%; Δ 8.24pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.16 (>3.0%) and CFO 525.4m > Net Income 153.7m (YES >=105%, WARN >=100%)

Net Debt (-115.2m) to EBITDA (222.1m) ratio: -0.52 <= 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 74.81% (prev 44.34%; Δ 30.47pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 9.44% (prev 5.78%; Δ 3.66pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 0.55 (EBITDA TTM 222.1m / 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) 55.85

1. Piotroski 7.0pt = 2.0

2. FCF Yield 14.86% = 5.0

3. FCF Margin data missing

4. Debt/Equity 1.33 = 1.68

5. Debt/Ebitda -0.52 = 2.50

6. ROIC - WACC (= -2.20)% = -2.75

7. RoE 10.10% = 0.84

8. Rev. Trend 1.32% = 0.10

9. EPS Trend -70.31% = -3.52

What is the price of GSBD shares?

As of November 19, 2025, the stock is trading at USD 9.47 with a total of 1,189,831 shares traded.
Over the past week, the price has changed by -2.47%, over one month by -3.07%, over three months by -10.94% and over the past year by -11.91%.

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	10.6	11.7%
Analysts Target Price	10.6	11.7%
ValueRay Target Price	11.3	19.7%

GSBD Fundamental Data Overview November 16, 2025

Market Cap USD = 1.12b (1.12b USD * 1.0 USD.USD)
P/E Trailing = 8.4261
P/E Forward = 10.7759
P/S = 2.9205
P/B = 0.7695
P/EG = 2.15
Beta = 0.678
Revenue TTM = 327.2m USD
EBIT TTM = 61.3m USD
EBITDA TTM = 222.1m 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 = 2.93b USD (1.12b + Debt 1.93b - CCE 115.2m)
Interest Coverage Ratio = 0.55 (Ebit TTM 61.3m / Interest Expense TTM 110.5m)
FCF Yield = 14.86% (FCF TTM 435.9m / Enterprise Value 2.93b)
FCF Margin = 133.2% (FCF TTM 435.9m / Revenue TTM 327.2m)
Net Margin = 46.97% (Net Income TTM 153.7m / Revenue TTM 327.2m)
Gross Margin = 74.81% ((Revenue TTM 327.2m - Cost of Revenue TTM 82.4m) / Revenue TTM)
Gross Margin QoQ = 100.0% (prev 61.64%)
Tobins Q-Ratio = 0.87 (Enterprise Value 2.93b / Total Assets 3.39b)
Interest Expense / Debt = 1.46% (Interest Expense 28.1m / Debt 1.93b)
Taxrate = 1.96% (907.0k / 46.2m)
NOPAT = 60.0m (EBIT 61.3m * (1 - 1.96%))
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 = -0.52 (Net Debt -115.2m / EBITDA 222.1m)
Debt / FCF = -0.26 (Net Debt -115.2m / FCF TTM 435.9m)
Total Stockholder Equity = 1.52b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.54% (Net Income 153.7m / Total Assets 3.39b)
RoE = 10.10% (Net Income TTM 153.7m / Total Stockholder Equity 1.52b)
RoCE = 1.85% (EBIT 61.3m / Capital Employed (Total Assets 3.39b - Current Liab 74.1m))
RoIC = 1.77% (NOPAT 60.0m / Invested Capital 3.38b)
WACC = 3.98% (E(1.12b)/V(3.05b) * Re(8.37%) + D(1.93b)/V(3.05b) * Rd(1.46%) * (1-Tc(0.02)))
Discount Rate = 8.37% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 6.18%
[DCF Debug] Terminal Value 74.15% ; FCFE base≈358.7m ; Y1≈301.0m ; Y5≈224.7m
Fair Price DCF = 34.08 (DCF Value 3.89b / Shares Outstanding 114.1m; 5y FCF grow -19.48% → 3.0% )
EPS Correlation: -70.31 | EPS CAGR: -15.71% | SUE: 1.10 | # QB: 1
Revenue Correlation: 1.32 | Revenue CAGR: 43.83% | SUE: 0.04 | # QB: 0

Additional Sources for GSBD Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle