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6Material company update
May 8, 2026·SEC
Material company update
Apr 14, 2026·SEC
Material company update
Mar 17, 2026·SEC
Goldman Sachs BDC, Inc.(GSBD)Earnings, Financials & Key Ratios
GSBD•NYSE
$9.00
8.7× P/E·Price updated Jul 7, 2026
AboutGoldman Sachs BDC, Inc. is a business development company specializing in middle market and mezzanine investment in private companies. It seeks to make capital appreciation through direct originations of secured debt, senior secured debt, junior secured debt, including first lien, first lien/last-out unitranche and second lien debt, unsecured debt, including mezzanine debt and, to a lesser extent, investments in equities. The fund primarily invests in United States. It seeks to invest between $10 million and $75 million in companies with EBITDA between $5 million and $75 million annually.Show more
- EBITDA$235M+243.7%
- Net Income$119M+89.7%
- EPS (Diluted)1.03+87.3%
- Gross Margin75.39%+84.3%
- EBITDA Margin96.9%+172.8%
- Operating Margin98.36%+176.9%
- Net Margin49.19%+50.6%
- ROE7.96%+101.0%
GSBD Price & Volume
Goldman Sachs BDC, Inc. (GSBD) stock price & volume — 10-year historical chart
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Earnings Volatility Challenges Goldman Sachs BDC Sustainability
Investment Thesis • Updated 2026Q1
VerdictNegative
Growth:Mixed
Profitability:Strained
Financial:Strained
Cash Flow:Mixed
Primary Risk:Elevated leverage and credit
Key Thesis Takeaways
- Goldman Sachs BDC faces significant structural headwinds as evidenced by a deteriorating retained earnings deficit of $509.7 million and inconsistent net income performance.
- While the firm maintains a high dividend yield of 21.3%, the reliance on capital recycling to fund distributions amidst erratic cash flow generation warrants extreme caution.
- Investors should monitor the rising debt-to-equity ratio of 1.39x, which suggests limited strategic flexibility and heightened sensitivity to credit-related impairments within the unitranche portfolio.
Verdict Logic
the combination of a $509.7 million retained earnings deficit and a high 1.39x debt-to-equity ratio suggests that the current 21.3% dividend yield may be unsustainable without further balance sheet erosion.
GSBD Growth Metrics
Goldman Sachs BDC, Inc. (GSBD) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years14.38%
5 Years5.39%
3 Years21.22%
TTM-
Profit CAGR
10 Years9.85%
5 Years-7.5%
3 Years29.43%
TTM42.55%
EPS CAGR
10 Years-2.6%
5 Years-20.58%
3 Years24.02%
TTM45.45%
Return on Capital
10 Years5.72%
5 Years5.36%
3 Years6.44%
Last Year6.97%
GSBD Recent Earnings
Goldman Sachs BDC, Inc. (GSBD) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 6/12 qtrs (50%)●Beat Revenue 2/12 qtrs (17%)
Q2 2026Latest
May 7, 2026Metric
Actual
Est
EPS
$0.22-24.1%
$0.29
Rev
$79M-6.0%
$84M
Q1 2026
Feb 26, 2026Metric
Actual
Est
EPS
$0.37+2.8%
$0.36
Rev
$86M-0.9%
$87M
Q4 2025
Nov 6, 2025Metric
Actual
Est
EPS
$0.40+8.1%
$0.37
Rev
$56M-36.0%
$87M
Q3 2025
Aug 7, 2025Metric
Actual
Est
EPS
$0.38-5.0%
$0.40
Rev
$10M-89.5%
$93M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 7, 2026 | $0.22vs $0.29-24.1% | $79Mvs $84M-6.0% |
| Q1 2026 | Feb 26, 2026 | $0.37vs $0.36+2.8% | $86Mvs $87M-0.9% |
| Q4 2025 | Nov 6, 2025 | $0.40vs $0.37+8.1% | $56Mvs $87M-36.0% |
| Q3 2025 | Aug 7, 2025 | $0.38vs $0.40-5.0% | $10Mvs $93M-89.5% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for Goldman Sachs BDC, Inc. (GSBD)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $9.00 | $1.01B | 8.74 | 26% | 49.19% | 7.96% | 22.45% | |
| $18.47 | $13.26B | 9.93 | 32.87% | 43.69% | 8.11% | — | |
| $4.90 | $991.12M | 6.45 | -18.64% | — | — | — | |
| $12.75 | $3.32B | 8.98 | 42.5% | 26.91% | 5.24% | — | |
| $4.75 | $192.85M | 3.89 | 36.55% | -19.55% | -3.39% | — | |
| $10.39 | $722.08M | 10.29 | 17.9% | 23.81% | 4.42% | — |
Compare GSBD vs Peers
Goldman Sachs BDC, Inc. (GSBD) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
GSBD SEC Filings & Documents
Goldman Sachs BDC, Inc. (GSBD) SEC filings — annual & quarterly reports (10-K, 10-Q)
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GSBD Frequently Asked Questions
Goldman Sachs BDC, Inc. (GSBD) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Goldman Sachs BDC, Inc.'s revenue?
Goldman Sachs BDC, Inc. (GSBD) reported $286.4M in revenue for fiscal year 2025.
How fast is Goldman Sachs BDC, Inc. growing?
Goldman Sachs BDC, Inc. (GSBD) grew revenue by 26.0% over the past year. This is strong growth.
Is GSBD profitable?
Yes, Goldman Sachs BDC, Inc. (GSBD) is profitable, generating $74.1M in net income for fiscal year 2025 (49.2% net margin).
Dividend & Returns
Does GSBD pay dividends?
Yes, Goldman Sachs BDC, Inc. (GSBD) pays a dividend with a yield of 22.45%. This makes it attractive for income-focused investors.
What is GSBD's return on equity?
Goldman Sachs BDC, Inc. (GSBD) has a return on equity (ROE) of 8.0%. This is below average, suggesting room for improvement.
What is Goldman Sachs BDC, Inc.'s free cash flow?
Goldman Sachs BDC, Inc. (GSBD) generated $199.4M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.