GOLDMAN SACHS BDC INC (GSBD) Stock Fundamental Analysis
NYSE:GSBD - New York Stock Exchange, Inc. - US38147U1079 - Common Stock - Currency: USD
GSBD gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 227 industry peers in the Capital Markets industry. While GSBD is still in line with the averages on profitability rating, there are concerns on its financial health. 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.
GSBD had positive earnings in each of the past 5 years.
Of the past 5 years GSBD 4 years had a positive operating cash flow.
1.2 Ratios
GSBD has a Return On Assets (1.74%) which is comparable to the rest of the industry.
GSBD has a worse Return On Equity (4.00%) than 64.32% of its industry peers.
GSBD has a Return On Invested Capital of 5.70%. This is in the better half of the industry: GSBD outperforms 72.69% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for GSBD is in line with the industry average of 7.10%.
The last Return On Invested Capital (5.70%) for GSBD is above the 3 year average (5.51%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.74% | ||
| ROE | 4% | ||
| ROIC | 5.7% |
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
GSBD has a Profit Margin (14.47%) which is in line with its industry peers.
In the last couple of years the Profit Margin of GSBD has declined.
Looking at the Operating Margin, with a value of 58.14%, GSBD belongs to the top of the industry, outperforming 93.83% of the companies in the same industry.
GSBD's Operating Margin has been stable in the last couple of years.
The Gross Margin of GSBD (60.60%) is better than 68.72% of its industry peers.
In the last couple of years the Gross Margin of GSBD has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 58.14% | ||
| PM (TTM) | 14.47% | ||
| GM | 60.6% |
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
GSBD has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, GSBD has more shares outstanding
Compared to 1 year ago, GSBD has a worse debt to assets ratio.
2.2 Solvency
GSBD has an Altman-Z score of 0.57. This is a bad value and indicates that GSBD is not financially healthy and even has some risk of bankruptcy.
The Altman-Z score of GSBD (0.57) is worse than 61.23% of its industry peers.
The Debt to FCF ratio of GSBD is 785.25, which is on the high side as it means it would take GSBD, 785.25 years of fcf income to pay off all of its debts.
Looking at the Debt to FCF ratio, with a value of 785.25, GSBD is in line with its industry, outperforming 40.53% of the companies in the same industry.
GSBD has a Debt/Equity ratio of 1.23. This is a high value indicating a heavy dependency on external financing.
GSBD has a worse Debt to Equity ratio (1.23) than 60.79% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.23 | ||
| Debt/FCF | 785.26 | ||
| Altman-Z | 0.57 |
ROIC/WACCN/A
WACCN/A
2.3 Liquidity
A Current Ratio of 0.61 indicates that GSBD may have some problems paying its short term obligations.
With a Current ratio value of 0.61, GSBD is not doing good in the industry: 70.48% of the companies in the same industry are doing better.
A Quick Ratio of 0.61 indicates that GSBD may have some problems paying its short term obligations.
GSBD's Quick ratio of 0.61 is on the low side compared to the rest of the industry. GSBD is outperformed by 70.48% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.61 | ||
| Quick Ratio | 0.61 |
3. Growth
3.1 Past
GSBD shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -1.35%.
GSBD shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 2.14% yearly.
GSBD shows a decrease in Revenue. In the last year, the revenue decreased by -4.53%.
The Revenue has been growing by 24.15% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)-1.35%
EPS 3Y4.48%
EPS 5Y2.14%
EPS Q2Q%-12.73%
Revenue 1Y (TTM)-4.53%
Revenue growth 3Y7.77%
Revenue growth 5Y24.15%
Sales Q2Q%-0.32%
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 -12.06% yearly.
GSBD is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -4.63% yearly.
EPS Next Y-23.15%
EPS Next 2Y-17.33%
EPS Next 3Y-12.06%
EPS Next 5YN/A
Revenue Next Year-8.54%
Revenue Next 2Y-6.02%
Revenue Next 3Y-4.63%
Revenue Next 5YN/A
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 4.99, the valuation of GSBD can be described as very cheap.
93.83% of the companies in the same industry are more expensive than GSBD, based on the Price/Earnings ratio.
GSBD's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 28.79.
A Price/Forward Earnings ratio of 6.49 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 92.07% of the companies listed in the same industry.
When comparing the Price/Forward Earnings ratio of GSBD to the average of the S&P500 Index (21.38), we can say GSBD is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 4.99 | ||
| Fwd PE | 6.49 |
4.2 Price Multiples
The rest of the industry has a similar Price/Free Cash Flow ratio as GSBD.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 521.33 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
GSBD has a very decent profitability rating, which may justify a higher PE ratio.
A cheap valuation may be justified as GSBD's earnings are expected to decrease with -12.06% in the coming years.
PEG (NY)N/A
PEG (5Y)2.33
EPS Next 2Y-17.33%
EPS Next 3Y-12.06%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 12.09%, GSBD is a good candidate for dividend investing.
GSBD's Dividend Yield is a higher than the industry average which is at 8.42.
GSBD's Dividend Yield is rather good when compared to the S&P500 average which is at 2.51.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 12.09% |
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.
The dividend of GSBD decreased in the last 3 years.
Dividend Growth(5Y)0.1%
Div Incr Years0
Div Non Decr Years2
5.3 Sustainability
GSBD pays out 314.48% of its income as dividend. 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.
DP314.48%
EPS Next 2Y-17.33%
EPS Next 3Y-12.06%
10.92
+0.16 (+1.49%)
Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)
Earnings (Next)
Inst Owners30.54%
Inst Owner Change-0.65%
Ins Owners0.12%
Ins Owner Change-0.02%
Market Cap1.28B
Analysts46.67
Price Target12.58 (15.2%)
Short Float %1.55%
Short Ratio1.99
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 12.09% |
Yearly Dividend1.74
Dividend Growth(5Y)0.1%
DP314.48%
Div Incr Years0
Div Non Decr Years2
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-1.01%
Min EPS beat(2)-5.41%
Max EPS beat(2)3.39%
EPS beat(4)2
Avg EPS beat(4)1.44%
Min EPS beat(4)-5.41%
Max EPS beat(4)8.83%
EPS beat(8)4
Avg EPS beat(8)-0.16%
EPS beat(12)7
Avg EPS beat(12)3.61%
EPS beat(16)7
Avg EPS beat(16)2.1%
Revenue beat(2)0
Avg Revenue beat(2)-4.21%
Min Revenue beat(2)-6.09%
Max Revenue beat(2)-2.33%
Revenue beat(4)0
Avg Revenue beat(4)-4.6%
Min Revenue beat(4)-6.09%
Max Revenue beat(4)-2.33%
Revenue beat(8)2
Avg Revenue beat(8)-4.14%
Revenue beat(12)4
Avg Revenue beat(12)-3.54%
Revenue beat(16)7
Avg Revenue beat(16)-1.95%
PT rev (1m)-2.63%
PT rev (3m)-2.63%
EPS NQ rev (1m)-3.93%
EPS NQ rev (3m)-5.52%
EPS NY rev (1m)-6.65%
EPS NY rev (3m)-6.65%
Revenue NQ rev (1m)-1.7%
Revenue NQ rev (3m)-1.15%
Revenue NY rev (1m)-0.76%
Revenue NY rev (3m)-0.76%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 4.99 | ||
| Fwd PE | 6.49 | ||
| P/S | 2.95 | ||
| P/FCF | 521.33 | ||
| P/OCF | 521.33 | ||
| P/B | 0.81 | ||
| P/tB | 0.81 | ||
| EV/EBITDA | N/A |
EPS(TTM)2.19
EY20.05%
EPS(NY)1.68
Fwd EY15.41%
FCF(TTM)0.02
FCFY0.19%
OCF(TTM)0.02
OCFY0.19%
SpS3.7
BVpS13.41
TBVpS13.41
PEG (NY)N/A
PEG (5Y)2.33
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 1.74% | ||
| ROE | 4% | ||
| ROCE | 7.21% | ||
| ROIC | 5.7% | ||
| ROICexc | 5.8% | ||
| ROICexgc | 5.8% | ||
| OM | 58.14% | ||
| PM (TTM) | 14.47% | ||
| GM | 60.6% | ||
| FCFM | 0.57% |
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-Score4
Asset Turnover0.12
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.23 | ||
| Debt/FCF | 785.26 | ||
| Debt/EBITDA | N/A | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | 2.69 | ||
| Cash Conversion | N/A | ||
| Profit Quality | 3.91% | ||
| Current Ratio | 0.61 | ||
| Quick Ratio | 0.61 | ||
| Altman-Z | 0.57 |
F-Score4
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)-1.35%
EPS 3Y4.48%
EPS 5Y2.14%
EPS Q2Q%-12.73%
EPS Next Y-23.15%
EPS Next 2Y-17.33%
EPS Next 3Y-12.06%
EPS Next 5YN/A
Revenue 1Y (TTM)-4.53%
Revenue growth 3Y7.77%
Revenue growth 5Y24.15%
Sales Q2Q%-0.32%
Revenue Next Year-8.54%
Revenue Next 2Y-6.02%
Revenue Next 3Y-4.63%
Revenue Next 5YN/A
EBIT growth 1Y2.16%
EBIT growth 3Y2.08%
EBIT growth 5Y25.94%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-99.18%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-99.18%
OCF growth 3YN/A
OCF growth 5YN/A