# Goldman Sachs BDC, Inc. (GSBD)

> Source: Nexqual · https://nexqual.com/GSBD · data as of 2026-10-29 20:00 UTC · cite as "Nexqual, Goldman Sachs BDC, Inc. (GSBD), nexqual.com/GSBD" · informational, not investment advice.

**Price:** USD 9.06 (+2.26% on the day) · last close of Oct 29, 2026; US market closed, not a live price. Prev close 8.86 · day 8.8–9.07 · 52w 8.36–10.38 · market cap $1.02B · NYQ

## Key facts
- Valuation: P/E 17.4x (avg 13.1x at the last 3 fiscal year-ends), net debt $1.84B.
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $18K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Sell (mean 3.60 on a 1–5 scale) (5 analysts), mean target USD 8.94 (range 8–10.25).
- Total return with dividends: 1Y +3.6% vs S&P 500 +14.8%; 5Y -6.9% vs S&P 500 +79.1%.
- Next earnings: 2026-11-05, EPS estimate USD 0.35, revenue estimate $80.7M. All companies reporting that day: https://nexqual.com/earnings/2026-11-05
- Dividend: USD 1.41 a year (yield 15.91%), paid quarterly; latest ex-dividend date 2026-09-30; annual dividends grew 1.5% a year 2022–2025.
- Short interest: 5.74% of float (as of 2026-10-15), 7.4 days to cover.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Net income | $192M | $55.0M | $196M | $62.9M | $119M | $58.5M |
| EPS (diluted) | $1.89 | $0.54 | $1.81 | $0.55 | $1.03 | — |
| Cash + short-term investments | $33.8M | $39.6M | $52.4M | $61.8M | $43.2M | — |
| Total debt | $1.86B | $2.01B | $1.83B | $1.93B | $1.87B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 17.4x · P/B 0.8x · Earnings yield 5.73% · Net debt $1.84B · EV $2.86B
P/E at fiscal year-ends: Dec 2025 9.0x, Dec 2024 22.1x, Dec 2023 8.1x.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
1 purchase, $18K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-06-10 | Leach Timothy J | Director | 2,004 | $18K | 9.04 | Too little history (no open-market trades in 2023–2025) |
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Sell (mean 3.60 on a 1–5 scale), 5 analysts; mean target USD 8.94 (low 8, high 10.25).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-10 | Truist Securities | Target raised | Hold | $9 → $10 |
| 2026-07-09 | B of A Securities | Downgrade | Neutral → Underperform | $9 → $8.5 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-30) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +3.6% | -6.9% |
| S&P 500 (SPY) | +14.8% | +79.1% |
| Per year | +3.7% | -1.4% |
| Volatility (annualized) | 24.3% | 21.0% |
| Max drawdown | -13.8% (May 2026→May 2026) | -27.3% (Jul 2024→Apr 2025) |

## Dividends
Annual dividend rate USD 1.41 per share, yield 15.91% at the current price. Paid over the last 12 months: USD 1.38 in 7 payments (quarterly).
Most recent ex-dividend date: Sep 30, 2026; payment date: Oct 28, 2026. To receive a dividend, shares must be owned before the ex-dividend date.
Latest change: raised 966.7% to USD 0.32 per payment from USD 0.03, starting with the Sep 30, 2026 ex-dividend date.
Payout ratio 265% of earnings (above 100%: dividends exceeded net income; for REITs and partnerships, cash-flow measures are more relevant) · 5-year average yield 11.78% · annual dividends grew 1.5% a year from 2022 to 2025.
| Ex-dividend date | Amount per share |
|---|---|
| 2026-09-30 | USD 0.32 |
| 2026-08-31 | USD 0.03 |
| 2026-06-30 | USD 0.32 |
| 2026-03-31 | USD 0.32 |
| 2026-03-09 | USD 0.03 |
| 2025-12-31 | USD 0.32 |
| 2025-11-28 | USD 0.04 |
| 2025-09-30 | USD 0.48 |
Total by calendar year: 2022 USD 1.80 · 2023 USD 1.80 · 2024 USD 1.80 · 2025 USD 1.88.

## Short interest
6,455,277 shares sold short, 5.74% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 6,438,581 shares (+0.3%). Days to cover: 7.4 (short shares ÷ average daily volume).

## Peers (Asset Management)
BXSL (Blackstone Secured Lending Fund) USD 23.52 +1.38% · PDI (PIMCO Dynamic Income Fund) USD 14.33 +1.63% · VCTR (Victory Capital Holdings, Inc. ) USD 113.81 +1.73% · AMG (Affiliated Managers Group, Inc.) USD 399.02 +1.47% · SEIC (SEI Investments Company) USD 104.73 +1.48% · IVZ (Invesco Ltd) USD 29.02 +1.19%

## More
Full page: https://nexqual.com/GSBD · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.35 | $0.31 | +12.8% | $80.7M | 5 |
| Next quarter (ends 2026-12-31) | $0.34 | $0.28 | +19.0% | $80.2M | 5 |
| Current fiscal year (ends 2026-12-31) | $1.30 | $1.13 | +15.0% | $325.1M | 4 |
| Next fiscal year (ends 2027-12-31) | $1.15 | $1.08 | +6.7% | $314.0M | 5 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-12-18 (includes earnings 2026-11-05): ±15.5%; last 8 reports averaged ±3%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-12-18 | 50 | 34.9% | ±15.5% |
| 2027-03-19 | 141 | 25.9% | ±18.6% |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| Aug 7, 2026 | Quarter ended Jun 30, 2026 | $0.38 | $0.31 | Beat +22.6% | +7.3% |
| May 8, 2026 | Quarter ended Mar 31, 2026 | $0.22 | $0.30 | Miss −26.7% | -10.0% |
| Feb 27, 2026 | Quarter ended Dec 31, 2025 | $0.37 | $0.35 | Beat +5.7% | -0.1% |
| Nov 6, 2025 | Quarter ended Sep 30, 2025 | $0.40 | $0.36 | Beat +11.1% | +0.9% |
| Aug 7, 2025 | — | — | — | — | +0.2% |
| May 8, 2025 | — | — | — | — | +3.5% |
| Feb 27, 2025 | — | — | — | — | +0.6% |
| Nov 7, 2024 | — | — | — | — | -1.2% |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-10-05 | 8-K | Regulation FD disclosure | https://www.sec.gov/Archives/edgar/data/1572694/000119312526414262/0001193125-26-414262-index.htm |
| 2026-08-07 | 8-K | Quarterly results; Regulation FD disclosure | https://www.sec.gov/Archives/edgar/data/1572694/000119312526338524/0001193125-26-338524-index.htm |
| 2026-08-06 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1572694/000119312526338331/0001193125-26-338331-index.htm |
| 2026-07-07 | 8-K | Regulation FD disclosure | https://www.sec.gov/Archives/edgar/data/1572694/000119312526297641/0001193125-26-297641-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.