Overview

• U.S. specialty finance firm's Q1 total investment income declined due to lower rates and tighter spreads

• Net investment income per share for Q1 was $0.22, down from $0.37 in prior quarter

• Board declared Q2 2026 base dividend of $0.32 per share

Outlook

• Goldman Sachs BDC declares Q2 2026 base dividend of $0.32 per share

Result Drivers

• LOWER RATES & TIGHTER SPREADS - Co said decrease in total investment income was primarily due to a decline in base interest rates and tightening of credit spreads

• HIGHER EXPENSES - Net expenses rose mainly due to higher incentive fees and increased interest and debt expenses

• NON-ACCRUAL INVESTMENTS - Two investments placed on non-accrual status due to financial underperformance, raising total non-accruals

Company press release: ID:nBw46yLPSa

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 $9.25, about 6.9% below its May 7 closing price of $9.94

• The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 7 three months ago

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