GOLDMAN SACHS BDC INC (GSBD) Stock Fundamental Analysis
NYSE:GSBD - US38147U1079 - Common Stock
11.43 USD
+0.2 (+1.78%)
11.64 USD
+0.21 (+1.84%)
We assign a fundamental rating of 4 out of 10 to GSBD. GSBD was compared to 237 industry peers in the Capital Markets industry. GSBD has a medium profitability rating, but doesn't score so well on its financial health evaluation. GSBD has a valuation in line with the averages, but on the other hand it scores bad on growth.
1. Profitability
1.1 Basic Checks
In the past year GSBD was profitable.
In the past year GSBD had a positive cash flow from operations.
Each year in the past 5 years GSBD has been profitable.
Of the past 5 years GSBD 4 years had a positive operating cash flow.
1.2 Ratios
The Return On Assets of GSBD (1.48%) is comparable to the rest of the industry.
GSBD has a Return On Equity of 3.36%. This is in the lower half of the industry: GSBD underperforms 65.82% of its industry peers.
With a decent Return On Invested Capital value of 5.58%, GSBD is doing good in the industry, outperforming 67.09% of the companies in the same industry.
GSBD had an Average Return On Invested Capital over the past 3 years of 5.51%. This is below the industry average of 7.69%.
The last Return On Invested Capital (5.58%) for GSBD is above the 3 year average (5.51%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.48% | ||
| ROE | 3.36% | ||
| ROIC | 5.58% |
ROA(3y)2.95%
ROA(5y)3.91%
ROE(3y)6.63%
ROE(5y)8.54%
ROIC(3y)5.51%
ROIC(5y)4.92%
1.3 Margins
The Profit Margin of GSBD (12.38%) is comparable to the rest of the industry.
In the last couple of years the Profit Margin of GSBD has declined.
GSBD has a Operating Margin of 57.49%. This is amongst the best in the industry. GSBD outperforms 90.72% of its industry peers.
In the last couple of years the Operating Margin of GSBD has remained more or less at the same level.
Looking at the Gross Margin, with a value of 60.08%, GSBD is in the better half of the industry, outperforming 68.78% of the companies in the same industry.
GSBD's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 57.49% | ||
| PM (TTM) | 12.38% | ||
| GM | 60.08% |
OM growth 3Y-5.28%
OM growth 5Y1.45%
PM growth 3Y-36.09%
PM growth 5Y-10%
GM growth 3Y-4.71%
GM growth 5Y1.34%
2. Health
2.1 Basic Checks
The number of shares outstanding for GSBD has been increased compared to 1 year ago.
Compared to 5 years ago, GSBD has more shares outstanding
GSBD has a worse debt/assets ratio than last year.
2.2 Solvency
Based on the Altman-Z score of 0.59, we must say that GSBD is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of GSBD (0.59) is worse than 60.76% of its industry peers.
The Debt to FCF ratio of GSBD is 14.47, which is on the high side as it means it would take GSBD, 14.47 years of fcf income to pay off all of its debts.
With a Debt to FCF ratio value of 14.47, GSBD perfoms like the industry average, outperforming 50.21% of the companies in the same industry.
GSBD has a Debt/Equity ratio of 1.21. This is a high value indicating a heavy dependency on external financing.
GSBD has a worse Debt to Equity ratio (1.21) than 60.34% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.21 | ||
| Debt/FCF | 14.47 | ||
| Altman-Z | 0.59 |
ROIC/WACCN/A
WACCN/A
2.3 Liquidity
GSBD has a Current Ratio of 0.98. This is a bad value and indicates that GSBD is not financially healthy enough and could expect problems in meeting its short term obligations.
The Current ratio of GSBD (0.98) is comparable to the rest of the industry.
A Quick Ratio of 0.98 indicates that GSBD may have some problems paying its short term obligations.
GSBD has a Quick ratio of 0.98. This is comparable to the rest of the industry: GSBD outperforms 46.41% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.98 | ||
| Quick Ratio | 0.98 |
3. Growth
3.1 Past
GSBD shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -19.83%.
The Earnings Per Share has been growing slightly by 2.14% on average over the past years.
The Revenue has decreased by -4.52% in the past year.
GSBD shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 24.15% yearly.
EPS 1Y (TTM)-19.83%
EPS 3Y4.48%
EPS 5Y2.14%
EPS Q2Q%-34.48%
Revenue 1Y (TTM)-4.52%
Revenue growth 3Y7.77%
Revenue growth 5Y24.15%
Sales Q2Q%-21%
3.2 Future
GSBD is expected to show a very negative growth in Earnings Per Share. In the coming years, the EPS will decrease by -14.33% yearly.
The Revenue is expected to decrease by -6.84% on average over the next years.
EPS Next Y-26.06%
EPS Next 2Y-19.11%
EPS Next 3Y-14.33%
EPS Next 5YN/A
Revenue Next Year-12.93%
Revenue Next 2Y-8.26%
Revenue Next 3Y-6.84%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 6.15, the valuation of GSBD can be described as very cheap.
Based on the Price/Earnings ratio, GSBD is valued cheaply inside the industry as 93.25% of the companies are valued more expensively.
Compared to an average S&P500 Price/Earnings ratio of 27.24, GSBD is valued rather cheaply.
A Price/Forward Earnings ratio of 7.98 indicates a rather cheap valuation of GSBD.
Compared to the rest of the industry, the Price/Forward Earnings ratio of GSBD indicates a rather cheap valuation: GSBD is cheaper than 88.19% of the companies listed in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 35.82, GSBD is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 6.15 | ||
| Fwd PE | 7.98 |
4.2 Price Multiples
GSBD's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. GSBD is cheaper than 73.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 10.37 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
GSBD's earnings are expected to decrease with -14.33% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)2.87
EPS Next 2Y-19.11%
EPS Next 3Y-14.33%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 11.39%, GSBD is a good candidate for dividend investing.
GSBD's Dividend Yield is a higher than the industry average which is at 7.61.
Compared to an average S&P500 Dividend Yield of 2.36, GSBD pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 11.39% |
5.2 History
The dividend of GSBD has a limited annual growth rate of 0.10%.
GSBD has paid a dividend for at least 10 years, which is a reliable track record.
GSBD has decreased its dividend in the last 3 years.
Dividend Growth(5Y)0.1%
Div Incr Years0
Div Non Decr Years2
5.3 Sustainability
390.48% of the earnings are spent on dividend by GSBD. This is not a sustainable payout ratio.
GSBD's earnings are declining while the Dividend Rate has been growing. This means the dividend growth is most likely not sustainable.
DP390.48%
EPS Next 2Y-19.11%
EPS Next 3Y-14.33%
11.43
+0.2 (+1.78%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)
Earnings (Next)
Inst Owners31.9%
Inst Owner Change26.08%
Ins Owners0.11%
Ins Owner Change0%
Market Cap1.34B
Analysts46.67
Price Target11.31 (-1.05%)
Short Float %2.11%
Short Ratio3.59
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 11.39% |
Yearly Dividend1.74
Dividend Growth(5Y)0.1%
DP390.48%
Div Incr Years0
Div Non Decr Years2
Ex-Date
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-4.55%
Min EPS beat(2)-5.41%
Max EPS beat(2)-3.68%
EPS beat(4)2
Avg EPS beat(4)0.78%
Min EPS beat(4)-5.41%
Max EPS beat(4)8.83%
EPS beat(8)4
Avg EPS beat(8)1.47%
EPS beat(12)6
Avg EPS beat(12)2.95%
EPS beat(16)7
Avg EPS beat(16)1.95%
Revenue beat(2)0
Avg Revenue beat(2)-4.58%
Min Revenue beat(2)-6.82%
Max Revenue beat(2)-2.33%
Revenue beat(4)0
Avg Revenue beat(4)-5.23%
Min Revenue beat(4)-6.82%
Max Revenue beat(4)-2.33%
Revenue beat(8)2
Avg Revenue beat(8)-2.68%
Revenue beat(12)4
Avg Revenue beat(12)-2.91%
Revenue beat(16)6
Avg Revenue beat(16)-2.92%
PT rev (1m)0%
PT rev (3m)-5%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-5.39%
EPS NY rev (1m)0%
EPS NY rev (3m)-3.79%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-5.32%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-4.8%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 6.15 | ||
| Fwd PE | 7.98 | ||
| P/S | 3.19 | ||
| P/FCF | 10.37 | ||
| P/OCF | 10.37 | ||
| P/B | 0.87 | ||
| P/tB | 0.87 | ||
| EV/EBITDA | N/A |
EPS(TTM)1.86
EY16.27%
EPS(NY)1.43
Fwd EY12.54%
FCF(TTM)1.1
FCFY9.64%
OCF(TTM)1.1
OCFY9.64%
SpS3.58
BVpS13.2
TBVpS13.2
PEG (NY)N/A
PEG (5Y)2.87
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.48% | ||
| ROE | 3.36% | ||
| ROCE | 7.06% | ||
| ROIC | 5.58% | ||
| ROICexc | 5.71% | ||
| ROICexgc | 5.72% | ||
| OM | 57.49% | ||
| PM (TTM) | 12.38% | ||
| GM | 60.08% | ||
| FCFM | 30.8% |
ROA(3y)2.95%
ROA(5y)3.91%
ROE(3y)6.63%
ROE(5y)8.54%
ROIC(3y)5.51%
ROIC(5y)4.92%
ROICexc(3y)5.59%
ROICexc(5y)4.99%
ROICexgc(3y)5.6%
ROICexgc(5y)4.99%
ROCE(3y)6.97%
ROCE(5y)6.23%
ROICexcg growth 3Y2.08%
ROICexcg growth 5Y5.75%
ROICexc growth 3Y2.1%
ROICexc growth 5Y5.76%
OM growth 3Y-5.28%
OM growth 5Y1.45%
PM growth 3Y-36.09%
PM growth 5Y-10%
GM growth 3Y-4.71%
GM growth 5Y1.34%
F-Score5
Asset Turnover0.12
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.21 | ||
| Debt/FCF | 14.47 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | 2.33 | ||
| Cash Conversion | N/A | ||
| Profit Quality | 248.79% | ||
| Current Ratio | 0.98 | ||
| Quick Ratio | 0.98 | ||
| Altman-Z | 0.59 |
F-Score5
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)69.08%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-19.83%
EPS 3Y4.48%
EPS 5Y2.14%
EPS Q2Q%-34.48%
EPS Next Y-26.06%
EPS Next 2Y-19.11%
EPS Next 3Y-14.33%
EPS Next 5YN/A
Revenue 1Y (TTM)-4.52%
Revenue growth 3Y7.77%
Revenue growth 5Y24.15%
Sales Q2Q%-21%
Revenue Next Year-12.93%
Revenue Next 2Y-8.26%
Revenue Next 3Y-6.84%
Revenue Next 5YN/A
EBIT growth 1Y-7.21%
EBIT growth 3Y2.08%
EBIT growth 5Y25.94%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y533.77%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y533.77%
OCF growth 3YN/A
OCF growth 5YN/A