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Goldman Sachs BDC (GSBD) investor relations material
Goldman Sachs BDC Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net investment income per share was $0.38 for Q2 2026; adjusted net investment income per share was $0.37, yielding an annualized 12.3% on book value.
NAV per share was $12.06 at June 30, 2026, down from $12.17 in Q1 and $12.64 at December 31, 2025.
Board declared a Q3 2026 base dividend of $0.32 per share and a Q2 2026 supplemental dividend of $0.03 per share.
Announced a new $75 million stock repurchase program under Rule 10b5-1.
Leadership transition: David Miller to step down as Co-CEO at year-end, Vivek Bantwal to become sole CEO; new executive appointments announced.
Financial highlights
Total investment income for Q2 2026 was $83.7 million, up from $78.8 million in Q1 2026.
Net investment income after taxes was $42.2 million; adjusted net investment income after taxes was $41.5 million.
Net realized and unrealized losses for Q2 2026 were $(18.5) million.
Net increase in net assets from operations was $23.7 million.
Weighted average yield on the total portfolio at fair value was 10.8% at June 30, 2026.
Outlook and guidance
Net debt-to-equity ratio decreased below the target of 1.25x after quarter-end due to repayments and sales.
Board continues to support shareholder returns through dividends and share repurchases.
Management expects to maintain RIC status and focus on middle-market lending.
- Q4 2024 net investment income per share reached $0.48, with stable leverage and new dividend policy.GSBD
Q4 20249 Jul 2026 - Net investment income rose, but NAV and EPS fell amid losses and higher non-accruals.GSBD
Q2 20248 Jul 2026 - Q1 2026 saw lower NAV, rising non-accruals, and higher leverage, but strong senior secured focus.GSBD
Q1 202614 May 2026 - Q3 2025 net investment income per share was $0.40; NAV per share fell to $12.75.GSBD
Q3 20256 May 2026 - Q4 2025 net investment income per share was $0.37, with NAV per share at $12.64.GSBD
Q4 20258 Apr 2026 - Director elections and auditor ratification headline the 2026 annual meeting agenda.GSBD
Proxy filing6 Apr 2026 - Virtual annual meeting to elect directors and ratify auditor, with online voting access.GSBD
Proxy filing2 Apr 2026 - Virtual meeting to elect directors and ratify auditor, with strong governance and oversight.GSBD
Proxy filing1 Apr 2026 - Q3 2024 net investment income per share was $0.58; portfolio yield remains strong.GSBD
Q3 202415 Jan 2026
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