---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-116056"
form_type: "8-K"
ticker: "GSBD"
cik: "0001572694"
company_name: "Goldman Sachs BDC, Inc."
filed_at: "2025-05-08T23:59:59+00:00"
generated_at: "2026-05-22T04:23:36.275306+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# GSBD Q1 NII $0.42/share, NAV down 1.6%; base dividend cut to $0.32

## Summary
- Q1 net investment income $49.6M ($0.42/share); adjusted $48.8M ($0.41); EPS $0.27.
- NAV per share $13.20, down from $13.41; ending net debt-to-equity 1.16x.
- Board reduced quarterly base dividend to $0.32 from $0.48; declared Q2 special $0.16 and Q1 supplemental $0.05.
- New investment commitments $87.8M; fundings $53.8M; sales/repayments $179.3M.
- Non-accrual at 1.9% of portfolio fair value (9 portfolio companies); two new non-accruals added.

## SEC filing metadata
- accession: 0001193125-25-116056
- form_type: 8-K
- ticker: GSBD
- cik: 0001572694
- company_name: Goldman Sachs BDC, Inc.
- filed_at: 2025-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1572694/000119312525116056/0001193125-25-116056-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1572694/000119312525116056/d795862d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-116056
- JSON: https://secwatch.observer/filing/0001193125-25-116056.json
- Plain text: https://secwatch.observer/filing/0001193125-25-116056.txt

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