Goldman Sachs BDC distinguishes itself through its affiliation with Goldman Sachs Asset Management, leveraging the extensive origination network, due diligence rigor, and robust underwriting standards of one of Wall Street's most prestigious financial institutions. The company is experiencing portfolio transition, with new originations showing strong credit performance while legacy assets are driving most non-accruals and losses, though liquidity and capital management remain robust.
Cyborg Score Rationale
As of March 31, 2026, NAV per share decreased 3.7% to $12.17 from $12.64 as of December 31, 2025, reflecting portfolio challenges, but the company announced a first quarterly 2026 base dividend of $0.32 per share, demonstrating ongoing income generation and shareholder returns.
Top Insights
Portfolio transition accelerating with new originations showing strong credit performance while legacy assets are driving most non-accruals and losses
Q1 2026 annualized net investment income yield on book value was 7.2%, declining from 11.7% in Q4 2025
As of September 30, 2025, total indebtedness was approximately $1.86 billion with an asset coverage ratio of 178% based on senior securities
Goldman Sachs BDC reported March 31, 2026 financial results on May 7, 2026
Named Competitors
Ares BDC — Middle-market direct lending and specialty finance
Blackstone BDC — Middle-market and lower middle-market direct lending
Carlyle BDC — Middle-market direct lending and credit solutions
Recent Developments
(May 2026) Reported Q1 2026 financial results with NAV per share at $12.17, down 3.7% sequentially
(May 2026) Announced second quarterly 2026 base dividend of $0.32 per share
(May 2026) Portfolio transition ongoing with new originations performing well while legacy assets driving non-accruals
(February 2026) Reported Q4 2025 earnings with 11.7% annualized net investment income yield on book value
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