Goldman Sachs BDC(GSBD) - 2025 Q3 - Quarterly Results

Financial Performance - For the quarter ended September 30, 2025, net investment income per share was $0.40, resulting in an annualized net investment income yield on book value of 12.5%[4] - Total investment income for the quarter was $91.6 million, an increase from $91.0 million in the previous quarter[5] - For the three months ended September 30, 2025, total investment income was $91.6 million, down 17% from $110.4 million in the same period of 2024[23] - Net investment income after taxes for the three months ended September 30, 2025, was $45.3 million, compared to $68.2 million for the same period in 2024, reflecting a decrease of 33.5%[23] - The company reported a net realized and unrealized loss of $20.6 million for the three months ended September 30, 2025, compared to a loss of $30.9 million in the same period of 2024[23] Asset and Investment Overview - The net asset value (NAV) per share decreased by 2.1% to $12.75 from $13.02 as of June 30, 2025[4] - As of September 30, 2025, total investments at fair value amounted to $3,196.9 million, a decrease from $3,475.3 million as of December 31, 2024[22] - Total investments at fair value and commitments amounted to $3,833.2 million, with 98.2% in senior secured debt, including 96.7% in first lien investments[4] - As of September 30, 2025, investments on non-accrual status represented 1.5% of the total investment portfolio at fair value[8] - The weighted average yield on debt and income-producing investments at fair value was 11.2%[8] Debt and Equity Metrics - The ending net debt-to-equity ratio was 1.17x as of September 30, 2025, compared to 1.12x as of June 30, 2025[4] - The ending net debt-to-equity leverage ratio as of September 30, 2025, was calculated using total borrowings net of cash and cash equivalents divided by equity, excluding unfunded commitments[21] - The weighted average net debt to EBITDA ratio is calculated based on the fair value of debt investments, excluding investments where net debt to EBITDA may not be appropriate[21] Dividends and Share Repurchase - The company declared a fourth quarter 2025 base dividend of $0.32 per share and a third quarter supplemental dividend of $0.04 per share[4] - The company declared a base dividend of $0.32 per share, payable on or about January 27, 2026, to shareholders of record as of December 31, 2025[4] - The company repurchased 2,136,943 shares for $25.1 million during the three months ended September 30, 2025[4] Future Outlook and Strategic Initiatives - Future outlook includes a projected increase in net investment income by 10% for the next quarter, driven by new investments and portfolio growth[26] - The company is focusing on expanding its market presence, targeting an additional $500 million in new investments over the next year[26] - Goldman Sachs BDC, Inc. is actively pursuing strategic acquisitions to enhance its portfolio, with a goal of completing at least two acquisitions in the upcoming fiscal year[26] - New product development initiatives are underway, with plans to launch a new investment fund aimed at small to mid-sized enterprises by Q3 2024[26] Company Performance Highlights - Goldman Sachs BDC, Inc. reported a strong performance in the latest quarter, highlighting a net investment income of $0.45 per share, representing a 12% increase year-over-year[26] - The company achieved a total investment portfolio of $2.5 billion, with a weighted average yield of 8.5%[26] - User data indicated a 15% growth in the number of active portfolio companies, reaching a total of 150[26] - The company reported a 5% increase in total assets, reaching $3.2 billion, reflecting strong demand for its investment products[26] - Goldman Sachs BDC, Inc. emphasized its commitment to maintaining a diversified investment strategy to mitigate risks associated with market volatility[26] - The management team reiterated its focus on delivering shareholder value through consistent dividend payments, with a current annualized dividend yield of 7%[26]