---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-039442"
form_type: "8-K"
ticker: "GSBD"
cik: "0001572694"
company_name: "Goldman Sachs BDC, Inc."
filed_at: "2025-02-27T23:59:59+00:00"
generated_at: "2026-05-26T01:45:33.906442+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# GSBD Q4 NII $0.48; NAV down 1% to $13.41; base dividend cut to $0.32, special $0.16

## Summary
- NII per share $0.48 ($0.47 adjusted); EPS $0.32; NAV per share $13.41, down 1% from $13.54.
- Base quarterly dividend reduced from $0.45 to $0.32; Q1 special $0.16 declared; two more specials authorized.
- Incentive fee permanently reduced to 17.5% on income and capital gains, effective Q1 2025.
- Total investment income $103.8M (down from $110.4M QoQ); portfolio 97.6% senior secured; net debt/equity 1.17x.
- Repaid $360M 3.75% notes due Feb 2025 with revolver; remaining borrowing capacity $626.3M.

## SEC filing metadata
- accession: 0001193125-25-039442
- form_type: 8-K
- ticker: GSBD
- cik: 0001572694
- company_name: Goldman Sachs BDC, Inc.
- filed_at: 2025-02-27T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1572694/000119312525039442/0001193125-25-039442-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1572694/000119312525039442/d904519d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-039442
- JSON: https://secwatch.observer/filing/0001193125-25-039442.json
- Plain text: https://secwatch.observer/filing/0001193125-25-039442.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.