Goldman Sachs BDC's Q4 net investment income at $0.37 apiece, NAV drops

Overview

• The specialty finance firm reported Q4 net investment income per share at $0.37

• Net asset value per share decreased to $12.64 from $12.75 last quarter

• Company repurchased 1.54 mln shares for $15 mln under stock repurchase plan

Outlook

• Company declares first-quarter 2026 base dividend of $0.32 per share

• Company announces fourth-quarter 2025 supplemental dividend of $0.03 per share

• Company did not provide specific guidance for future quarters

Result Drivers

• INVESTMENT INCOME DECLINE - Total investment income decreased due to lower base interest rates and tighter credit spreads

• HIGHER LEVERAGE - Net debt-to-equity ratio increased to 1.27x from 1.17x, indicating higher leverage

• NON-ACCRUAL STATUS - Pluralsight, Inc. debt placed on non-accrual status due to financial underperformance

Company press release: ID:nBw56x5Qya

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the corporate financial services peer group is "buy."

• Wall Street's median 12-month price target for Goldman Sachs BDC Inc is $10.13, about 10.4% above its February 26 closing price of $9.17

• The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 7 three months ago

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