Stock fact sheet · data as of
Goldman Sachs BDC, Inc. (GSBD): fair value, margin of safety and Wheel Score
Ticker symbol GSBD · Financial Services · Asset Management · United States · Blend Income
Is GSBD undervalued?
Goldman Sachs BDC, Inc. (GSBD) closed at 8.94 on 5 Nov 2026. The GLS average fair value - the simple average of the 9 valuation models that produced a positive number - is 16.24, which puts the price 45% below it. 6 of the 9 models value the shares above the current price. A gap this wide is rare in our universe of ~7,400 US stocks and is exactly what the Value part of the Wheel Score rewards; it is also where the question "why is it this cheap?" matters most.
The 9 models disagree widely: Lynch gives 2.08 while GLS Growth gives 31.80. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
Ranked against every other company we cover, neither cheapness nor growth clearly wins for GSBD, so the nightly engine files it under Blend (value score 67, growth score 84, out of 100). It also carries the Income tag (Income = a dividend yield of 4% or more).
Nine valuation models for GSBD
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 23.52 | +163% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 11.87 | +33% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 8.38 | -6% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 2.08 | -77% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 31.80 | +256% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 16.45 | +84% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 31.29 | +250% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 15.01 | +68% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 5.77 | -35% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -16.79 | -288% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 9.25 | +3% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
On financial health GSBD scores 7/9 (Piotroski): most of the nine tests - positive earnings and cash flow, falling debt, rising margins and turnover - are passed, which is the kind of balance sheet a wheel trader is happy to be assigned. The GLS Moat score is 5.8 out of 10: a record that is solid on some of the four parts the score weighs (returns on capital, pricing power, lasting growth, balance sheet) and weaker on others.
Returns on capital are thin or negative - ROIC 3.6%, ROE 8.4%, ROA 3.5% - with debt at 1.32 times equity and a free-cash-flow yield of 8.8%.
The dividend yield is high at 11.41% (payout ratio 399%) - a payout above 100% of earnings, which is not covered by profits. A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual.
Institutional ownership scores 6/10, insider activity 10/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 7 / 9 | ROIC | 3.6% |
|---|---|---|---|
| GLS Moat | 5.8 / 10 | ROE | 8.4% |
| Debt / equity | 1.32 | ROA | 3.5% |
| Free-cash-flow yield | 8.8% | Payout ratio | 399% |
| Institutions | 6 / 10 | Insiders · Congress | 10 · 5 / 10 |
Wheel Score 51: Fair
GSBD scores 51 out of 100 on the Wheel Score (Fair band, 50-69) because it fails filter 1, options that actually trade - options too quiet (1,394 open interest, 69 a day). A stock must pass all 9 Wheel Trade Filters to reach 70. Otherwise the parts read: value strong, premium strong, moat fair, health good, red flags strong, option trading weak, stability fair.
Implied volatility is 46% on the near-the-money contracts 20-60 days out - inside the 35-60% sweet spot the Wheel Score rewards most: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is thin - 1,394 contracts across every expiry - so fills at a fair price are not guaranteed; a 30-45-day put may not exist at a usable strike.
Volume runs at 950k shares a day on a market cap of $1.0B, with a beta of 0.67 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Fails | options too quiet (1,394 open interest, 69 a day) |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Passes | Piotroski F-score 6 or more out of 9 (a company with no score on file passes) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Passes | Market cap $1 billion or more |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Strong | 45% below fair value | |
| Premium | Strong | implied volatility 46% | |
| Moat | Fair | moat 5.8/10 | |
| Health | Good | Piotroski 7/9 | |
| Red Flags | Strong | Red Flags score 90/100 | |
| Option trading | Weak | 69 contracts a day, 1,394 open interest | |
| Stability | Fair | beta 0.67, $1.0B company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
Goldman Sachs BDC, Inc. reports earnings on 5 Nov 2026 (after the close) - inside the 14-day window the Sunday Scan avoids, because a put sold now would carry the report's gap risk.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Asset Management
The 12 companies below are the closest to Goldman Sachs BDC, Inc. by market cap within the Asset Management industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| EMO ClearBridge Energy Midstream Opportunity Fund Inc | 50.46 | 161.01 | +69% | 25No options | $1.0B |
| FMIHX FMI Large Cap Fund Investor Class | 15.41 | 510.70 | +97% | 29No options | $1.0B |
| AFDVX Applied Finance Explorer fund Investor Class | 26.99 | 11.69 | -131% | 13No options | $985M |
| DOMIX Domini Impact International Equity Fund | 12.82 | 2.18 | -489% | 9No options | $1.0B |
| FSCO FS Credit Opportunities Corp. | 5.10 | 29.88 | +83% | 31No options | $1.0B |
| AOCIX American Century One Choice Portfolio: Conservative Investor Class | 14.14 | - | - | 9No options | $1.0B |
| BAQAX Brown Advisory Emerging Markets Select Fund Advisor Shares | 16.24 | 2.92 | -456% | 9No options | $1.0B |
| ACSNX American Century Short Duration Fd Investor Cl | 9.68 | 596.28 | +98% | 25No options | $971M |
| VCX Fundrise Innovation Fund, LLC | 21.53 | 171.31 | +87% | 37Weak | $966M |
| TYG Tortoise Energy Infrastructure Corporation | 37.78 | 57.34 | +34% | 26No options | $960M |
| WBENX William Blair Emerging Mkts Growth N | 17.45 | 0.3174 | -5398% | 9No options | $1.1B |
| BOSOX Boston Trust Walden Small Cap Fund | 19.60 | 10.76 | -82% | 13No options | $940M |
⚖ Compare GSBD with 7 of them All Financial Services stocks →
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Start free See the Sunday ScanQuestions about GSBD
Is GSBD undervalued right now?
By the GLS models, yes: at 8.94 the stock is 45% below the average fair value of 16.24 (data as of 5 Nov 2026). Whether the discount is deserved is the question to research next.
What is the Wheel Score of GSBD and what does it mean?
GSBD scores 51 out of 100 (Fair) - it fails Wheel Trade Filter 1. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for GSBD?
16.24 per share as of 5 Nov 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Goldman Sachs BDC, Inc. report earnings next?
The next earnings report is due on 5 Nov 2026 (after the close), 0 days from the data date of 5 Nov 2026. The Calendars page lists every upcoming report with its time of day.
Does GSBD have listed options, and how liquid are they?
Yes. The nightly snapshot found 8 listed contracts with 1,394 open interest across all expiries and implied volatility of 46% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.