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GSBD logoGoldman Sachs BDC, Inc.(GSBD)Earnings, Financials & Key Ratios

GSBD•NYSE•Banking & Credit
$9.94
$1.12B mkt cap·9.7× P/E·Price updated May 7, 2026
SectorFinancial ServicesIndustryAsset ManagementSub-IndustryPrivate credit and BDC lenders
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
  • Net Interest Income$250M-5.6%
  • Total Revenue$242M+26.0%
  • Net Income$119M+89.7%
  • Return on Equity7.96%+101.0%
  • Net Interest Margin7.38%+0.6%
  • Efficiency Ratio-22.97%-526.6%
  • ROA3.41%+93.5%
  • Equity / Assets42.06%-3.6%
  • Book Value per Share12.31-10.2%
  • Tangible BV/Share12.31-10.2%
  • Debt/Equity1.32+7.6%
Technical→

GSBD Key Insights

Goldman Sachs BDC, Inc. (GSBD) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong NIM of 7.4%
  • ✓Efficient operations: -23.0% efficiency ratio
  • ✓Well capitalized: 42.1% equity/assets
  • ✓Trading at only 0.8x book value

✗Weaknesses

  • ✗Dividend payout exceeds 100% of earnings

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

GSBD Price & Volume

Goldman Sachs BDC, Inc. (GSBD) stock price & volume — 10-year historical chart

Loading chart...

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%
TTM116.48%

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

Full history →
●Beat EPS 6/12 qtrs (50%)●Beat Revenue 2/12 qtrs (17%)
Q1 2026Latest
Feb 26, 2026
EPS
$0.37
Est $0.36
+2.8%
Revenue
$86M
Est $87M
-0.9%
Q4 2025
Nov 6, 2025
EPS
$0.40
Est $0.37
+8.1%
Revenue
$56M
Est $87M
-36.0%
Q3 2025
Aug 7, 2025
EPS
$0.38
Est $0.40
-5.0%
Revenue
$10M
Est $93M
-89.5%
Q2 2025
May 8, 2025
EPS
$0.41
Est $0.43
-4.7%
Revenue
$97M
Est $101M
-4.1%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q1 2026LatestFeb 26, 2026
$0.37vs $0.36+2.8%
$86Mvs $87M-0.9%
Q4 2025Nov 6, 2025
$0.40vs $0.37+8.1%
$56Mvs $87M-36.0%
Q3 2025Aug 7, 2025
$0.38vs $0.40-5.0%
$10Mvs $93M-89.5%
Q2 2025May 8, 2025
$0.41vs $0.43-4.7%
$97Mvs $101M-4.1%
Based on last 12 quarters of dataView full earnings history →

GSBD Peer Comparison

Goldman Sachs BDC, Inc. (GSBD) competitors in Private credit and BDC lenders — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
ARCC logoARCCAres Capital CorporationDirect Competitor13.61B18.9610.1932.87%8.11%1.12
FSCO logoFSCOFS Credit Opportunities Corp.Direct Competitor1.02B5.155.42-17.44%13.47%0.32
GBDC logoGBDCGolub Capital BDC, Inc.Direct Competitor3.43B13.159.2642.5%5.24%1.23
TPVG logoTPVGTriplePoint Venture Growth BDC Corp.Direct Competitor242.54M5.994.9136.55%-3.39%1.33
CGBD logoCGBDCarlyle Secured Lending, Inc.Direct Competitor858.8M11.787.46-2.92%6.2%1.07
OCSL logoOCSLOaktree Specialty Lending CorporationDirect Competitor1.08B12.2131.3160.93%3.45%1.01
FSK logoFSKFS KKR Capital Corp.Product Competitor3.06B10.94278.375.5%0.18%1.31
BBDC logoBBDCBarings BDC, Inc.Product Competitor927.7M8.869.1319%5.96%1.23

Compare GSBD vs Peers

Goldman Sachs BDC, Inc. (GSBD) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs ARCC

Most directly comparable listed peer for GSBD.

Scale Benchmark

vs GS

Larger-name benchmark to compare GSBD against a more recognizable public peer.

Peer Set

Compare Top 5

vs ARCC, FSCO, GBDC, TPVG

GSBD Income Statement

Goldman Sachs BDC, Inc. (GSBD) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Net Interest Income95.66M98.91M100.27M122.87M267.04M251.43M305.69M264.39M249.67M166.61M
NII Growth %-0.66%3.4%1.38%22.54%117.33%-5.85%21.58%-13.51%-5.57%-141.32%
Net Interest Margin %7.37%7.08%6.8%3.71%7.52%7%8.68%7.34%7.38%4.98%
Interest Income115.26M125.14M136.59M162.77M326.03M330.89M417M378.11M361.23M318.97M
Interest Expense19.61M26.23M36.31M39.9M58.99M79.46M111.3M113.72M111.56M113.29M
Loan Loss Provision000000-111.3M0-51.88M-46.77M
Non-Interest Income-39.53M-36.81M-56.99M23.72M-96.95M-194.79M37.92M-185.68M-118.78M-32.27M
Non-Interest Income %-52.2%-41.67%-71.59%12.72%-42.32%-143.12%8.33%-96.5%-48.99%-11.26%
Total Revenue
75.73M▲ 0%
88.34M▲ 16.6%
79.6M▼ 9.9%
186.49M▲ 134.3%
229.08M▲ 22.8%
136.1M▼ 40.6%
454.91M▲ 234.2%
192.43M▼ 57.7%
242.45M▲ 26.0%
286.69M▲ 0%
Revenue Growth %21.96%16.64%-9.89%134.28%22.84%-40.59%234.24%-57.7%26%397.67%
Non-Interest Expense5.03M6.12M5.49M-30.96M-23.97M-3.06M91.53M10.36M-55.69M23.65M
Efficiency Ratio6.64%6.93%6.9%-16.6%-10.47%-2.24%20.12%5.38%-22.97%8.25%
Operating Income
51.1M▲ 0%
55.98M▲ 9.6%
37.79M▼ 32.5%
177.55M▲ 369.8%
194.07M▲ 9.3%
59.7M▼ 69.2%
363.38M▲ 508.7%
68.35M▼ 81.2%
238.47M▲ 248.9%
119.86M▲ 0%
Operating Margin %67.47%63.37%47.48%95.2%84.72%43.86%79.88%35.52%98.36%41.81%
Operating Income Growth %22.57%9.55%-32.49%369.77%9.3%-69.24%508.74%-81.19%248.9%-
Pretax Income
51.1M▲ 0%
55.98M▲ 9.6%
37.79M▼ 32.5%
177.55M▲ 369.8%
194.07M▲ 9.3%
59.7M▼ 69.2%
201.35M▲ 237.3%
68.35M▼ 66.1%
123.37M▲ 80.5%
116.19M▲ 0%
Pretax Margin %67.47%63.37%47.48%95.2%84.72%43.86%44.26%35.52%50.89%40.53%
Income Tax1.55M2.3M1.65M1.43M1.64M4.69M5.48M5.48M4.11M3.69M
Effective Tax Rate %3.04%4.12%4.36%0.81%0.84%7.86%2.72%8.02%3.33%3.18%
Net Income
49.55M▲ 0%
53.68M▲ 8.3%
36.15M▼ 32.7%
176.11M▲ 387.2%
192.43M▲ 9.3%
55M▼ 71.4%
195.87M▲ 256.1%
62.87M▼ 67.9%
119.27M▲ 89.7%
112.5M▲ 0%
Net Margin %65.42%60.77%45.41%94.44%84%40.41%43.06%32.67%49.19%39.24%
Net Income Growth %21.88%8.34%-32.66%387.2%9.26%-71.42%256.12%-67.9%89.71%116.48%
Net Income (Continuing)49.55M53.68M36.15M176.11M192.43M55M195.87M62.87M119.27M112.5M
EPS (Diluted)
1.28▲ 0%
1.34▲ 4.7%
0.90▼ 32.8%
3.26▲ 262.2%
1.89▼ 42.0%
0.54▼ 71.4%
1.81▲ 235.2%
0.55▼ 69.6%
1.03▲ 87.3%
1.00▲ 0%
EPS Growth %14.29%4.69%-32.84%262.22%-42.02%-71.43%235.19%-69.61%87.27%45.45%
EPS (Basic)1.281.340.903.261.890.541.810.551.03-
Diluted Shares Outstanding38.63M40.18M40.31M53.94M101.69M102.26M108.31M114.67M115.58M112.57M

GSBD Balance Sheet

Goldman Sachs BDC, Inc. (GSBD) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash & Short Term Investments11.61M6.11M9.41M32.14M33.76M39.6M52.36M61.8M43.21M308.28M
Cash & Due from Banks11.61M6.11M9.41M32.14M33.76M39.6M52.36M61.8M43.21M41.85M
Short Term Investments0000000000
Total Investments1.16B1.25B1.37B19.81M100K0003.3B3.23B
Investments Growth %7.35%7.45%9.79%-98.56%-99.5%-100%---11134075.86%
Long-Term Investments1.16B1.25B1.37B19.81M100K0003.3B6.53B
Accounts Receivables8.3M6.97M5.7M24.19M23.28M31.78M38.53M28.09M26.93M0
Goodwill & Intangibles0000000000
Goodwill0000000000
Intangible Assets0000000000
PP&E (Net)0000000000
Other Assets112.13M131.85M88.37M3.24B3.49B3.52B3.43B3.51B15.66M0
Total Current Assets23.62M15.68M15.2M56.33M57.04M71.38M90.9M89.89M70.14M66.98M
Total Non-Current Assets1.27B1.38B1.46B3.26B3.49B3.52B3.43B3.51B3.31B0
Total Assets
1.3B▲ 0%
1.4B▲ 7.6%
1.48B▲ 5.6%
3.31B▲ 124.5%
3.55B▲ 7.2%
3.59B▲ 1.1%
3.52B▼ 1.9%
3.6B▲ 2.3%
3.38B▼ 6.1%
3.34B▲ 0%
Asset Growth %9.08%7.58%5.6%124.53%7.2%1.14%-1.91%2.29%-6.11%-21.27%
Return on Assets (ROA)3.98%3.98%2.52%7.36%5.61%1.54%5.51%1.76%3.41%3.33%
Accounts Payable19.75M20.53M20.47M55.85M60.75M59.59M62.67M74.07M61.57M0
Total Debt542.53M659.1M769.73M1.63B1.86B2.01B1.83B1.93B1.88B0
Net Debt530.92M652.99M760.32M1.59B1.83B1.97B1.77B1.87B1.83B-41.85M
Long-Term Debt111.28M149.68M151.32M1.63B1.86B2.01B1.83B1.93B1.88B0
Short-Term Debt431.25M509.42M618.41M0000000
Other Liabilities7.83M3.43M5.5M14.31M14.41M16.66M31.53M27.24M8.65M0
Total Current Liabilities453.66M533.97M642.33M55.85M60.75M59.59M62.67M74.07M73.59M0
Total Non-Current Liabilities119.1M153.12M156.82M1.64B1.88B2.03B1.86B1.96B1.89B0
Total Liabilities572.76M687.08M799.15M1.7B1.94B2.09B1.92B2.03B1.96B1.97B
Total Equity
725.83M▲ 0%
709.89M▼ 2.2%
676.13M▼ 4.8%
1.62B▲ 138.9%
1.61B▼ 0.0%
1.5B▼ 6.9%
1.6B▲ 6.6%
1.57B▼ 1.8%
1.42B▼ 9.5%
1.37B▲ 0%
Equity Growth %9.12%-2.2%-4.76%138.88%-0.05%-6.94%6.62%-1.82%-9.52%-34.46%
Equity / Assets (Capital Ratio)55.89%50.82%45.83%48.76%45.46%41.83%45.47%43.65%42.06%40.98%
Return on Equity (ROE)7.12%7.48%5.22%15.37%11.92%3.53%12.62%3.96%7.96%7.81%
Book Value per Share18.7917.6716.7729.9415.8814.6914.7913.7112.3112.17
Tangible BV per Share18.7917.6716.7729.9415.8814.6914.7913.7112.3112.17
Common Stock40K40K40K102K102K103K110K117K113K113K
Additional Paid-in Capital799.94M802.22M778.13M1.62B1.67B1.71B1.83B1.95B1.88B0
Retained Earnings-72.72M-90.94M-100.63M-5.35M-55.02M-206.2M-224.58M-373.67M-456.69M0
Accumulated OCI-1.42M-1.42M-1.42M0000000
Treasury Stock0000000000
Preferred Stock0000000000

GSBD Cash Flow Statement

Goldman Sachs BDC, Inc. (GSBD) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations-49.3M-49.24M-35.27M165.78M-29.86M27.44M300.69M2.46M325.68M325.68M
Operating CF Growth %-57.24%0.11%28.37%570.03%-118.01%191.9%995.86%-99.18%13155.27%-231.23%
Net Income49.55M53.68M36.15M176.11M192.43M55M195.87M62.87M119.27M112.5M
Depreciation & Amortization00000000037.22M
Deferred Taxes0000000000
Other Non-Cash Items-100.46M-103.11M-75.7M1.82M-228.11M-20.93M98.36M-76.17M211.93M42.43M
Working Capital Changes1.61M195K4.28M-12.15M5.83M-6.64M6.46M15.76M-5.51M10.1M
Cash from Investing0000000002.89M
Purchase of Investments000000000-96.06M
Sale/Maturity of Investments00000000098.95M
Net Investment Activity0000000002.89M
Acquisitions0000000000
Other Investing0000000000
Cash from Financing56.34M43.75M38.56M-143.11M31.69M-21.75M-287.99M7.15M-344.45M-243.08M
Dividends Paid-67.43M-70.37M-69.85M-145.6M-193.04M-180M-190.96M-197.7M-233.52M-182.53M
Share Repurchases00000000-52.17M-52.17M
Stock Issued81.57M000014.01M98.08M109.93M00
Net Stock Activity81.57M000014.01M98.08M109.93M-52.17M-52.17M
Debt Issuance (Net)1000K1000K1000K1000K1000K1000K-1000K1000K-1000K1000K
Other Financing-1.3M-4.05M-579K-24.78M-4.61M-3.44M-5.96M-8.69M-9.88M-19.2M
Net Change in Cash
7.04M▲ 0%
-5.49M▼ 178.0%
3.3M▲ 160.0%
22.73M▲ 589.6%
1.63M▼ 92.8%
5.84M▲ 258.8%
12.76M▲ 118.6%
9.43M▼ 26.1%
-18.58M▼ 297.0%
-40.91M▲ 0%
Exchange Rate Effect105.2B1K10K55K-211K147K62K-171K186K-71K
Cash at Beginning4.57M11.61M6.11M9.41M32.14M33.76M39.6M52.36M61.8M43.21M
Cash at End11.61M6.11M9.41M32.14M33.76M39.6M52.36M61.8M43.21M41.85M
Interest Paid0000000000
Income Taxes Paid0000000000
Free Cash Flow
-49.3M▲ 0%
-49.24M▲ 0.1%
-35.27M▲ 28.4%
165.78M▲ 570.0%
-29.86M▼ 118.0%
27.44M▲ 191.9%
300.69M▲ 995.9%
2.46M▼ 99.2%
325.68M▲ 13155.3%
202.25M▲ 0%
FCF Growth %-57.24%0.11%28.37%570.03%-118.01%191.9%995.86%-99.18%13155.27%56.43%

GSBD Banking Ratios

Goldman Sachs BDC, Inc. (GSBD) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201720182019202020212022202320242025TTM
Return on Equity (ROE)7.12%7.48%5.22%15.37%11.92%3.53%12.62%3.96%7.96%7.81%
Return on Assets (ROA)3.98%3.98%2.52%7.36%5.61%1.54%5.51%1.76%3.41%3.33%
Net Interest Margin7.37%7.08%6.8%3.71%7.52%7%8.68%7.34%7.38%4.98%
Efficiency Ratio6.64%6.93%6.9%-16.6%-10.47%-2.24%20.12%5.38%-22.97%8.25%
Equity / Assets55.89%50.82%45.83%48.76%45.46%41.83%45.47%43.65%42.06%40.98%
Book Value / Share18.7917.6716.7729.9415.8814.6914.7913.7112.3112.17
NII Growth-0.66%3.4%1.38%22.54%117.33%-5.85%21.58%-13.51%-5.57%-33.81%
Dividend Payout136.1%131.1%193.24%82.68%100.32%327.26%97.49%314.48%195.79%160.65%

GSBD SEC Filings & Documents

Goldman Sachs BDC, Inc. (GSBD) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 14, 2026·SEC

Material company update

Mar 17, 2026·SEC

Material company update

Mar 2, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 26, 2026·SEC

FY 2025

Feb 27, 2025·SEC

FY 2024

Feb 28, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

May 7, 2026·SEC

FY 2025

Nov 6, 2025·SEC

FY 2025

Aug 7, 2025·SEC

GSBD Frequently Asked Questions

Goldman Sachs BDC, Inc. (GSBD) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Goldman Sachs BDC, Inc. (GSBD) grew revenue by 26.0% over the past year. This is strong growth.

Yes, Goldman Sachs BDC, Inc. (GSBD) is profitable, generating $112.5M in net income for fiscal year 2025 (49.2% net margin).

Dividend & Returns

Yes, Goldman Sachs BDC, Inc. (GSBD) pays a dividend with a yield of 20.33%. This makes it attractive for income-focused investors.

Goldman Sachs BDC, Inc. (GSBD) has a return on equity (ROE) of 8.0%. This is below average, suggesting room for improvement.

Industry Metrics

Goldman Sachs BDC, Inc. (GSBD) has a net interest margin (NIM) of 7.4%. This indicates healthy earnings from lending activities.

Goldman Sachs BDC, Inc. (GSBD) has an efficiency ratio of -23.0%. This is excellent, indicating strong cost control.

Explore More GSBD

Goldman Sachs BDC, Inc. (GSBD) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

→

Price History

Long-term charts & historical price data

→

Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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