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0 0 0 0 0.0022197558268588 -0.00277469478357404 -0.00277469478357404 -0.0011098779134297
Stock impact report

Goldman Sachs BDC's Risky Math: Buying The Discount, Ignoring The Drift [Seeking Alpha]

Goldman Sachs BDC, Inc. (GSBD) 
Last goldman sachs bdc, inc. earnings: 2/20 05:32 pm Check Earnings Report
US:NYSE Investor Relations: goldmansachsbdc.com
Company Research Source: Seeking Alpha
GSBD's income is declining, with NII per share down over 20% and rising reliance on less reliable PIK income. Credit metrics are mixed: non-accruals improved, but watchlist loans increased and leverage is rising, narrowing the margin for error. I rate GSBD a buy based on discounted valuation and resilient yield, not on clean credit fundamentals. Nutthaseth Vanchaichana/iStock via Getty Images When analyzing the Goldman Sachs BDC ( GSBD ) in the context of the current market and macro conditions, several conflicting factors come into play. The pressures over the past few months have been amplified by the GSBD's ~30% discount to NAV and a supportive yield cushion even under stress scenarios justify a Buy, outweighing concerns over declining income and rising leverage. Income faces pressure from rate normalization, potential credit stress, and reliance on PIK income, which could fade or reverse if credit conditions worsen. Credit signals are mixed: non-accruals have improv Show less Read more
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