Goldman Sachs BDC, Inc. (GSBD) vs Kayne Anderson BDC, Inc. (KBDC)

Goldman Sachs BDC, Inc. and Kayne Anderson BDC, Inc. are both Asset Management companies. Goldman Sachs BDC, Inc. is the larger, with a market value of $990.6M against $841.3M — 1.2× the size. Kayne Anderson BDC, Inc. trades at the lower P/E: 15.2× against 34.0×. Kayne Anderson BDC, Inc. grew revenue faster over the last twelve months: 4.24% against −15.4%. Both pay a dividend; Goldman Sachs BDC, Inc. yields more (15.6% vs 12.5%). Across the 17 metrics below, Goldman Sachs BDC, Inc. leads on 9 and Kayne Anderson BDC, Inc. on 8.

Valuation

Metric GSBD KBDC Asset Management median
P/E 33.96 15.19 13.38
P/S 2.91 3.57 2.99
P/B 0.76 0.81 0.91
Price to free cash flow 3.28 7.31 7.79
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 2.94% 6.58% 4.67%
Free cash flow yield 30.46% 13.68% 4.85%

Profitability

Metric GSBD KBDC Asset Management median
Gross margin 100.00% 84.96% 100.00%
Operating margin 80.87% 83.39% 27.27%
Net margin 0.00% 0.00% 11.89%
Free cash flow margin 0.00% 0.00% 5.96%
Return on equity 2.16% 5.20% 4.57%
Return on assets 0.94% 2.44% 1.40%
Return on invested capital 0.00% 0.00% 2.12%

Growth

Metric GSBD KBDC Asset Management median
Revenue growth (TTM) (15.41%) 4.24% 7.26%
EPS growth (last fiscal year) 87.27% (35.57%) (5.64%)
Revenue growth, 5-year CAGR 16.15% — 11.84%
Net income growth, 5-year CAGR (7.50%) 0.00% 0.00%

Health

Metric GSBD KBDC Asset Management median
Debt to equity 0.00 1.15 0.40
Current ratio 0.69 0.00 1.23
Net debt to EBITDA 6.17 5.54 1.06

Dividend

Metric GSBD KBDC Asset Management median
Dividend yield 15.63% 12.54% 6.43%
Payout ratio 5.31 1.90 0.91

Size

Metric GSBD KBDC Asset Management median
Market cap 990.61m 841.32m 692.54m

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