Goldman Sachs BDC Sees Share Value Slide for Seven Straight Quarters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 25 2025
0mins
Goldman Sachs' (GS) business development company, Goldman Sachs BDC (GSBD), has seen its per share value slide for seven straight quarters due to souring loans, AnnaMaria Andriotis of Wall Street Journal reports. The paper notes that BDC's total assets are about $3.4B of the $162B that Goldman's private-credit business manages. Goldman executives looked into BDC's portfolio and told colleagues that the loans had underwriting issues, according to former Goldman private-credit employees, reports Andriotis.
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Analyst Views on GS
Wall Street analysts forecast GS stock price to rise
12 Analyst Rating
5 Buy
7 Hold
0 Sell
Moderate Buy
Current: 941.740
Low
604.00
Averages
951.45
High
1100
Current: 941.740
Low
604.00
Averages
951.45
High
1100
About GS
The Goldman Sachs Group, Inc. is a global financial institution that delivers a range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Its segments include Global Banking & Markets, Asset & Wealth Management and Platform Solutions. The Global Banking & Markets segment offers a range of services, including financing, advisory services, risk distribution, and hedging for its institutional and corporate clients. It facilitates client transactions and makes markets in fixed income, equity, currency and commodity products. The Asset & Wealth Management segment manages assets and offers investment products across all asset classes to a diverse set of clients. It also provides investing and wealth advisory solutions. The Platform Solutions segment includes consumer platforms, such as partnerships offering credit cards and point-of-sale financing, and transaction banking and other platform businesses.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Competitive Edge: Compared to the national average CD rate of 1.52%, today's rates are among the highest seen in nearly two decades, reflecting the Fed's strategy to combat inflation by maintaining elevated interest rates, thus attracting more deposits.
- Online Bank Advantage: Online banks typically offer more competitive CD rates due to lower overhead costs, making them the preferred choice for depositors seeking higher yields, which further intensifies market rate competition.
- Selection Strategy: When considering a CD, investors are advised to compare rates from various financial institutions, pay attention to minimum deposit requirements, and review account terms to ensure they secure the best rates and flexibility, especially with options like no-penalty CDs.
See More
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- Recession Risk: Goldman Sachs CEO David Solomon indicated that the risk of an economic downturn could increase depending on the U.S. administration's social media response to the Iran war, although current recession forecasts remain low at about 20%.
- Oil Price Forecast: Solomon noted that oil prices are expected to stay between $80 and $100 per barrel over the next three to six months, but a severe escalation in the conflict could drive prices up to $170 per barrel, significantly impacting the economy.
- Impact of Energy Prices: High energy prices may affect economic data releases later in 2026, highlighting the potential threat of Middle Eastern conflicts on the global economy, especially amid inflationary pressures.
- Market Outlook: Despite the uncertain short-term outlook, Goldman Sachs maintains a bullish long-term perspective, reflecting a strategic mindset focused on identifying opportunities amid uncertainty.
See More
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- Business Scale and Revenue: Under Eknoian's leadership, World Insurance has grown from a startup in 2011 to one of the largest independent brokerages in the U.S., generating over $700 million in annual revenue, demonstrating its attractiveness and capability in the market for acquisitions.
- Strategic Investment and Technology Deployment: In his new role, Newell will continue to invest in top-tier talent, expand vertical expertise, and accelerate enterprise-wide AI enablement to enhance client experience and operational efficiency, further driving the company's organic growth.
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- Rate Cut Forecast Adjustment: Goldman anticipates that if geopolitical tensions ease, the Fed could implement two 25 basis point rate cuts in 2026, contingent on inflation trends tied to energy prices and labor market conditions.
- Market Optimism: As peace talks progress, market optimism regarding a post-war scenario is increasing, with expectations that energy-driven price pressures will ease, potentially allowing for a resumption of monetary policy normalization.
- Fed's Cautious Stance: The Fed has adopted a “wait-and-see” approach in light of oil price spikes and inflation pressures, emphasizing that it will not rush into rate cuts without clear evidence of inflation moving back toward the 2% target.
See More
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See More
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- Infrastructure Support: GE Vernova supports natural gas plants with turbines and recently announced that Crusoe ordered 29 gas turbine units to meet its data center needs, indicating ongoing investment potential in energy infrastructure.
See More
