Goldman Sachs BDC, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data Goldman Sachs BDC, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2020	FY2022	FY2022	FY2023	FY2024	FY2025
Operating expenses	98.6	140	136	205	177	180
Income tax	1.43	1.28	4.45	4.84	5.3
Net income	176	192	55	196	62.9	119
EPS, basic	3.26	1.89	0.54	1.81	0.55	1.03
EPS, diluted	3.26	1.89	0.54	1.81	0.55	1.03
Shares, basic (weighted)	53.9	102	102	108	115	116
Shares, diluted (weighted)	53.9	102	102	108	115	116

Balance sheet

	FY2020	FY2022	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	32.1	33.8	39.6	52.4	61.8	43.2
Total assets		3,551	3,591	3,523	3,603	3,383
Total liabilities		1,937	2,089	1,921	2,031	1,960
Total debt		1,861	2,013	1,827	1,926	1,875
Paid-in capital		1,671	1,710	1,826	1,946	1,880
Retained earnings	-5.35	-55	-206	-225	-374	-457
Shareholders' equity	1,615	1,614	1,502	1,602	1,573	1,423
Total equity	1,615	1,614	1,502	1,602	1,573	1,423
Total liabilities and equity		3,551	3,591	3,523	3,603	3,383
Shares outstanding		102	103	110	117	113

Cash flow statement

	FY2020	FY2022	FY2022	FY2023	FY2024	FY2025
Net income	176	192	55	196	62.9	119
Cash from operations	166	-29.9	27.4	301	2.46	326
Debt issued	1,289	1,128	846	379	1,098	1,592
Debt repaid	-1,262	-898	-699	-568	-996	-1,641
Stock issued			14.2
Share buybacks						-52.2
Cash from financing	-143	31.7	-21.7	-288	7.15	-344
Exchange rate effect	0.06	-0.21	0.15	0.06	-0.17	0.19
Net change in cash	22.7	1.84	5.69	12.7	9.6	-18.8
Interest paid	27.2	41.9	72	103	93.9	95.6

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $9.54 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Return on equity (ROE)	4.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	1.8%	Net income / average total assets.

Growth

Metric	Value	How it is calculated
Net income growth, 1y	89.7%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	29.4%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	-7.5%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	87.3%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	24.0%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	-20.6%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	13,155.0%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	128.1%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	14.5%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-9.5%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-1.8%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-2.5%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-6.1%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-2.0%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Share count change, 1y	0.8%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	4.2%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	16.5%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Debt / equity	1.36x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	56.3%	Total debt / total assets.
Liabilities / assets	58.7%	Total liabilities / total assets.
Net debt	$1.84B	Total debt - cash - short-term investments. Negative means more cash than debt.
Tangible book value	$1.36B	Shareholders' equity - goodwill - intangible assets.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.52	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Operating cash flow per share	$0.72	Cash from operations / diluted weighted shares.
Book value per share	$12.06	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$12.06	Tangible book value / shares outstanding.
Cash per share	$0.13	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$1.07B	Share price x shares outstanding.
Enterprise value	$2.91B	Market cap + total debt - cash - short-term investments.
P/E	18.4x	Market cap / net income. Only when net income is positive.
P/B	0.79x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	0.79x	Market cap / tangible book value, when positive.
P/OCF	13.2x	Market cap / cash from operations, when positive.
Earnings yield	5.4%	Net income / market cap (the inverse of P/E).
PEG	0.76x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

Was Goldman Sachs BDC, Inc. profitable in fiscal 2025?

Yes. Net income was $119.3M, a net margin of -.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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