Goldman Sachs BDC Inc. Common Stock (GSBD)

FairStock Score: 59/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Goldman Sachs BDC is a middle-market lender with a Goldman brand, but BDC lending is a spread business, not a wide-moat franchise. The filed numbers show why I proceed with caution. In fiscal Q3 2025, the quarter ended 2025-09-30, net income was $24.7M and diluted EPS $0.22. In fiscal year 2025, net income was $119.3M and diluted EPS $1.03. Then fiscal Q1 2026, the quarter ended 2026-03-31, swung to a net loss of $13.6M and EPS -$0.12, followed by fiscal Q2 2026, the quarter ended 2026-06-30, net income of $23.7M and EPS $0.21. Over longer periods, fiscal year 2025 net income of $119.3M and EPS $1.03 were below fiscal year 2023's $195.9M and $1.81, though above fiscal year 2024's $62.9M and $0.55. That is volatility, not steady compounding. FairStock's asset-play label fits: at the 2026-10-13 close of $8.74, price-to-book is 0.72, below the Graham Number of $11.88, and the market cap is $983.9M. The stated dividend yield is 14.54%, and FCF yield is 8.3%, which suggests the market doubts sustainability. A Piotroski F-Score of 7/9 is respectable, but debt-to-equity of 1.36 and an Altman Z-Score of 0.09 remind me that leverage is the business model and the margin for error is thin. FairStock's ROE is 4.07%, which is modest. I would want evidence that net income can again cover distributions and that book value is real before calling this a bargain. At 0.72 times book it is statistically cheap, but statistically cheap is not the same as safe. Graham would demand a margin of safety; the 26.43% discount to Graham Number is a start, not a conclusion.

In plain English: Goldman Sachs BDC lends money to and invests in private middle-market companies, mostly in the U.S. The business is not very strong right now: profits have bounced around and are well below where they were a few years ago. The stock looks cheap compared with its book value and pays a very high dividend, but that high payout and the uneven profits mean it carries real risk.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer