Goldman Sachs BDC Ranks 71st in Market as Stock Surges 2.50%

On May 8, 2025, Goldman Sachs (GS) experienced a 2.50% increase in stock price, marking two consecutive days of gains with a total increase of 2.97% over the past two days. The trading volume for the day was 11.29 billion, ranking 71st in the overall market.

Goldman Sachs BDC, Inc. reported its financial results for the first quarter ending March 31, 2025. The company's net investment income per share for the quarter was $0.42, with an adjusted net investment income per share of $0.41, reflecting an annualized net investment income yield on book value of 12.4%. Earnings per share for the quarter were $0.27. The net asset value (NAV) per share decreased by 1.6% to $13.20 from $13.41 as of December 31, 2024.

The company's total investments at fair value and commitments were $3,861.6 million, spread across 163 portfolio companies in 38 industries. The investment portfolio was predominantly composed of senior secured debt, with 97.5% in senior secured debt, including 96.1% in first lien investments. During the quarter, the company had new investment commitments of approximately $87.8 million, with $53.8 million funded. Fundings of previously unfunded commitments totaled $37.8 million, and sales and repayments activity amounted to $179.3 million, resulting in net funded investment activity of $(87.7) million.

Several portfolio companies' debt positions were adjusted during the quarter. MPI Engineered Technologies, LLC’s 2nd Lien/Senior Secured Debt position and ATX Networks Corp.’s 1st Lien/Senior Secured Debt position were placed on non-accrual status. Pluralsight, Inc.’s 1st Lien/Senior Secured Debt position was restored to accrual status due to performance improvement. Additionally, Animal Supply Intermediate, LLC’s 2nd Lien/Senior Secured Debt position, which was on non-accrual status as of December 31, 2024, was exited. As of March 31, 2025, the company had investments on non-accrual status in nine portfolio companies, amounting to 1.9% and 4.6% of the total investment portfolio at fair value and amortized cost, respectively.

The company's ending net debt-to-equity ratio was 1.16x as of March 31, 2025, compared to 1.17x as of December 31, 2024. The Board of Directors approved a reduction of the base quarterly dividend to $0.32 per share, with potential for additional supplemental variable distributions. The company declared a second quarter 2025 Base Dividend of $0.32 per share and a special dividend of $0.16 per share payable to shareholders of record as of June 30, 2025. Additionally, a first quarter 2025 Supplemental Dividend of $0.05 per share was declared, payable on or about June 13, 2025.