Goldman Sachs BDC, Inc. (GSBD) — Dividend Yield, NAV & Valuation Analysis
GSBD · NYSE
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Overview
Goldman Sachs BDC, Inc. is an externally managed BDC advised by Goldman Sachs Asset Management, providing senior secured debt, mezzanine debt, and equity co-investments to U.S. middle-market companies. GSBD leverages Goldman Sachs' global platform and relationships to source and underwrite loans, targeting borrowers with EBITDA between $5 million and $75 million. The portfolio is heavily weighted toward first lien senior secured loans.
Key Metrics
| Metric | Value |
|---|---|
| 1-Year Total Return | 6.1% |
| 3-Year Total Return | 15.8% |
| 5-Year Total Return | 24.2% |
| Expense Ratio | 9.9% |
| Leverage Ratio | 1.27x |
| Portfolio Companies | 165 |
| Total Assets | $1.1B |
Discount / Premium to NAV
| Stock Price | $9 |
| NAV per Share | $13.5 |
| Premium / (Discount) to NAV | -33.3% |
| Implied per-share NAV gap | $4.5 |
The premium / discount to NAV compares the current stock price to the per-share net asset value of Goldman Sachs BDC, Inc.'s investment portfolio. A negative reading (a discount) means the market is pricing GSBD below the value of its underlying assets and is one of the most-watched valuation metrics for any BDC. A positive reading (a premium) means the market is paying a premium over the stated NAV, often reflecting confidence in future dividend coverage and portfolio credit quality. Goldman Sachs BDC, Inc. currently trades at a -33.3% discount to NAV.
Investment Strategy
Goldman Sachs BDC, Inc. focuses on senior secured loans, mezzanine debt, equity co-investments in the business services, healthcare, technology, consumer sectors. The company targets lower middle-market companies and maintains a portfolio of 165 investments totaling $1.1B in assets.
Management
CEO: Alex F. Doyen | Employees: 50
Suitability
GSBD is suitable for income-focused investors seeking quarterly dividend income with a 14.3% yield. The BDC's focus on senior secured loans provides portfolio characteristics. Investors should consider their risk tolerance and investment objectives before investing.