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Goldman Sachs BDC, Inc.

GSBD Financial Asset Management

Goldman Sachs BDC, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $365.6 million, down 15.8% from fiscal 2024.

Revenue
−7.97%
EPS
−118.2%
Free cash flow
+465.7%
Total debt
+2.90%

Quarter to September 2026, against a year earlier

8.66 0.14 −1.59%
Market cap
$990.6M
P/E
34.0×
Fwd P/E
11.6×
Dividend yield
15.6%
F-score
6/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Size
Market Cap 990.61
Revenue ttm 340.18
Net income ttm 29.81
Free cash flow ttm 301.39
Net debt Q (8.63)
Valuation
P/E 33.96
Forward P/E 11.60
Price / sales 2.91
Forward P/S Powerpack
Price / FCF 3.28
Price / book 0.76
Financial health
Current ratio Q 0.69
Debt / equity Q 0.00
Interest coverage Q 2.43
Growth
Revenue growth Q −7.97% (below 0%: shrinking)
Operating income growth Q −5.07% (below 0%: shrinking)
EPS, this year −18.63% (below 0%: weak)
EPS, next year A −7.36% (below 0%: weak)
Revenue, next year A −11.07% (below 0%: weak)
EPS, past 5 yrs −20.58% (below 0%: weak)
EPS, next 5 yrs A −11.53% (below 0%: weak)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

P/E against its own 10 years 96.58%
10-year low 10-year high
P/S against its own 10 years 3.70%
10-year low 10-year high
P/B against its own 10 years 7.66%
10-year low 10-year high

Dividends

Yield
15.6%
Annual rate
1.38
Payout ratio
530.8%
Growth, 2017–25
−10.2%/yr
  1. 1.80 ’17
  2. 1.80 ’18 +0
  3. 1.80 ’19 +0
  4. 1.80 ’20 +0
  5. 1.80 ’21 +0
  6. 1.80 ’22 +0
  7. 1.80 ’23 +0
  8. 1.80 ’24 +0
  9. 0.76 ’25 −58
  10. 1.32 ’26e +74
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 52 62 43 9
Receivables 39 28 27 19
Inventory — — — —
Other — — — —
106 102 83 —
2023 2024 2025 Q'26
Payables 84 89 74 70
ST’ Debt — — — —
Other — — — —
93 101 82 77

Compound Annual Growth %

10y 5y 3y
Sales 11.93% 16.15% 0.75%
Cash Flow 0.00% 14.46% 128.11%
Earnings 9.85% (7.50%) 29.43%
Book Value 7.53% (2.50%) (1.79%)

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.31 Actual 0.37

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.37 0.40 Beat by 0.03
Q4 FY25 0.36 0.37 Beat by 0.01
Q1 FY26 0.29 0.22 Miss by 0.07
Q2 FY26 0.31 0.37 Beat by 0.06
Q3 FY26 0.37 — Reports 5 November 2026

EPS $

Mar Jun Sep Dec Year
’26 (0.12) 0.21 (0.04) — —
’25 0.27 0.34 0.22 0.21 1.03
’24 0.39 (0.47) 0.32 0.33 0.55
’23 0.27 0.60 0.47 0.46 1.81
’22 0.39 0.18 (0.07) 0.03 0.54
’21 0.60 0.54 0.37 0.38 1.89
’20 (1.58) 0.86 0.80 3.18 3.26
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 79 84 — — —
’25 97 91 92 86 366
’24 112 109 110 104 434
’23 107 112 120 115 455
’22 78 77 95 106 357
’21 83 84 97 84 347
’20 32 31 31 79 173
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 10 54 267 — —
’25 134 174 47 (30) 326
’24 7 (122) 104 13 2
’23 32 26 160 83 301
’22 39 (95) (54) 137 27
’21 100 133 64 (327) (30)
’20 (104) 13 17 239 166
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 10 54 267 — —
’25 134 174 47 (30) 326
’24 7 (122) 104 13 2
’23 32 26 160 83 301
’22 39 (95) (54) 137 27
’21 100 133 64 (327) (30)
’20 (104) 13 17 239 166
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 125 137 147 147 173 347 357 455 434 366 340 +12.7% 325 314 289 (7.6%)
Gross margin, % 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 0.0 pt
EBT 41 50 54 36 176 192 55 196 63 119 30 +12.7%
EBT margin, % 32.49 36.22 36.58 24.55 101.82 55.46 15.39 43.06 14.47 32.63 0.00 +0.1 pt
Net income 41 50 54 36 176 192 55 196 63 119 30 +12.7%
Per share, $
Per share, $ Revenue 3.44 3.54 3.65 3.65 3.21 3.41 3.50 4.20 3.79 3.16 0.00 (0.9%)
Earnings 1.12 1.28 1.34 0.90 3.26 1.89 0.54 1.81 0.55 1.03 0.26 (0.9%)
Cash flow (0.86) (1.28) (1.23) (0.87) 3.07 (0.29) 0.27 2.78 0.02 2.82 2.69 n/m
Capex 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 n/m
Free cash flow (0.86) (1.28) (1.23) (0.87) 3.07 (0.29) 0.27 2.78 0.02 2.82 2.69 n/m
Book value 18.31 18.79 17.67 16.77 29.94 15.88 14.69 14.79 13.71 12.31 11.60 (4.3%)
Shares, m 36 39 40 40 54 102 102 108 115 116 113 +13.7%
Valuation, ×
Valuation, × P/E 20.97 17.66 13.82 23.64 5.87 10.14 26.36 8.11 21.23 8.92 33.96 15.7
P/S 6.76 6.39 5.03 5.83 5.96 5.62 4.00 3.48 3.19 2.93 2.91 4.9
P/B 1.27 1.20 1.04 1.27 0.64 1.21 0.95 0.99 0.88 0.75 0.76 1.0
EV/Sales 10.70 10.27 9.48 10.99 15.18 10.88 9.52 7.38 7.49 7.95 — 10.0
EV/FCF (42.71) (28.49) (28.26) (45.88) 15.84 (126.48) 123.97 11.16 1,324.84 8.93 — 121.3
Cash, $m
Cash, $m Operating cash flow (31) (49) (49) (35) 166 (30) 27 301 2 326 301 n/m
Capex — — — — — — — — — — — —
Free cash flow (31) (49) (49) (35) 166 (30) 27 301 2 326 301 n/m
Balance, $m
Balance, $m Working capital (6) (3) (7) (10) (2) (5) 8 12 1 1 (24) n/m
Net debt 494 531 653 760 1,595 1,828 1,973 1,774 1,868 1,835 (9) +15.7%
Shareholders’ equity 665 726 710 676 1,615 1,614 1,502 1,602 1,573 1,423 1,300 +8.8%
Returns, %
Returns, % ROA 3.50 3.98 3.98 2.52 7.36 5.61 1.54 5.51 1.76 3.41 0.94 (0.1) pt
ROIC 4.17 4.06 3.87 3.55 2.17 4.33 4.19 4.67 4.68 3.56 0.00 (0.6) pt
ROE 6.01 7.12 7.48 5.22 15.37 11.92 3.53 12.62 3.96 7.96 2.16 +2.0 pt
People
People Employees — — — — — — — — — — — —
Revenue/emp, $m 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 5 Nov 2026

Goldman Sachs BDC, Inc. vs peers in Asset Management (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
MSDL Morgan Stanley Direct Lending Fund $1.2B 284× 15.2× −13.62% (below 0%: shrinking) n/m +230.03% (above 0%: growing) 100.00% 0.00% Compare
OCSL Oaktree Specialty Lending Corp. $1.1B 26.1× 22.7× −7.76% (below 0%: shrinking) −20.45% (below 0%: shrinking) +173.07% (above 0%: growing) 94.24% 82.04% Compare
RPC Ridgepost Capital, Inc. $1.0B 29.6× 35.2× +17.11% (above 0%: growing) +350.00% (above 0%: growing) +447.90% (above 0%: growing) 100.00% 28.63% Compare
GSBD Goldman Sachs BDC, Inc. $990.6M 34.0× 11.6× −7.97% (below 0%: shrinking) n/m +465.71% (above 0%: growing) 100.00% 87.38%
BBDC BARINGS BDC, INC. $915.1M 10.3× 9.9× −11.20% (below 0%: shrinking) +9.09% (above 0%: growing) −250.65% (below 0%: shrinking) 100.00% 0.00% Compare
BUR Burford Capital Limited $869.6M — (loss-making) — (loss-making) +110.46% (above 0%: growing) n/m −531.48% (below 0%: shrinking) 100.00% 66.57% Compare
MFIC MidCap Financial Investment Corporation $846.0M — (loss-making) 56.7× −24.94% (below 0%: shrinking) n/m +21.89% (above 0%: growing) 100.00% 0.00% Compare
KBDC Kayne Anderson BDC, Inc. $841.3M 15.2× 10.9× −2.78% (below 0%: shrinking) −71.43% (below 0%: shrinking) +221.15% (above 0%: growing) 86.61% 84.68% Compare
VRTS Virtus Investment Partners, Inc. $827.0M 7.0× — (loss-making) −4.35% (below 0%: shrinking) +9.87% (above 0%: growing) −24.42% (below 0%: shrinking) 100.00% 13.57% Compare
Median of peers $892.4M 20.6× 19.0× −6.05% +9.09% +97.48% 100.00% 21.10%

All 121 Asset Management stocks →

Pay and ownership Proxy statement filed 1 April 2026

Ownership

Directors and executive officers, together less than 1%
The Goldman Sachs Group, Inc. 5.78%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Goldman Sachs BDC, Inc. (GSBD) Latest News

5 Nov

Impact 3 · · Business Wire

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12 Oct

Impact 3 · · Simply Wall St.
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stockrow.com/GSBD · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com