Goldman Sachs BDC vs Virtus

Goldman Sachs BDC lends to middle-market companies with the credibility of the Goldman brand behind its origination and underwriting teams. Virtus Investment Partners distributes third-party and proprietary investment strategies through financial advisors, growing AUM through market appreciation and net flows. Both deploy financial capital to earn management or interest income, making them sensitive to credit cycles and market valuations in different but equally important ways. The Goldman Sachs BDC vs Virtus comparison assesses their dividend coverage, portfolio quality, and what happens to their income streams when credit spreads widen or equity markets sell off.

Goldman Sachs BDC lends to middle-market companies with the credibility of the Goldman brand behind its origination and underwriting teams. Virtus Investment Partners distributes third-party and propr...

Comparison Snapshot

Key Financial Metrics

GSBD

Metric

VRTS

$1.07B

Market Cap

$952.73M

3.41%

Potential Profit

25.35%

Hold

Analyst Rating

Hold

Discover More Comparisons

Goldman Sachs BDC vs Trinity Capital

Goldman Sachs BDC deploys the Goldman brand and deal flow into middle-market lending while Trinity Capital targets venture-backed growth companies with a mix of loans and equipment financing. Both are business development companies that distribute most of their income to shareholders, but their borrower profiles and default risks are quite different. Goldman Sachs BDC vs Trinity Capital gives income investors a side-by-side look at yield, credit quality, and NAV stability across two distinct lending strategies.

Goldman Sachs BDC vs Capital Southwest

Goldman Sachs BDC deploys capital into middle-market borrowers with the backing of a Wall Street brand, while Capital Southwest has cultivated a lower-profile but battle-tested direct lending franchise in the Southwest. Both vehicles distribute substantial income to shareholders and carry the credit risk inherent in leveraged lending. Goldman Sachs BDC vs Capital Southwest helps investors parse how origination quality, fee structures, and NAV stability differ between a brand-name BDC and a disciplined regional operator.

Goldman Sachs BDC vs EZCORP

Goldman Sachs BDC leverages its parent's deal flow and credit expertise to originate first-lien loans to sponsored middle-market companies, while EZCORP provides short-term consumer credit through pawn shops and cash advances in communities where bank access is limited. Both profit from extending credit to borrowers underserved by traditional banks, though the counterparties and structures differ enormously. Goldman Sachs BDC vs EZCORP draws the contrast between institutional leveraged lending and consumer-facing alternative finance.

Investment Analysis

Goldman Sachs BDC

GSBD

Pros

Goldman Sachs BDC consistently generates solid earnings per share, beating estimates with a 6.7%-12% EPS surprise in recent quarters.
The company's investment portfolio is highly secured, with 98.2% senior secured debt and a strong focus on first lien investments.
It maintains a high dividend yield, recently announcing a quarterly base dividend of $0.32 and a supplemental dividend of $0.04 per share.

Considerations

Net asset value per share has been declining, showing a 2.1% drop from $13.02 to $12.75 in Q3 2025, indicating some portfolio valuation pressure.
Revenue slightly missed or only modestly exceeded expectations, reflecting softer total investment income compared to projections.
The company faces a significant discount to net asset value of about 24.6%, reflecting investor concerns on earnings declines and NAV shrinkage.

Virtus

VRTS

Pros

Virtus Investment Partners has demonstrated strong growth in assets under management, supporting fee income expansion.
The company benefits from a diversified product suite across asset management and investment advisory.
Virtus' management has executed strategic acquisitions to expand its market presence and scale.

Considerations

Exposure to volatile market conditions could impact fee-related revenues and profitability.
Integration risks remain from recent acquisitions, which could affect execution and cost synergies.
Competition in asset management is intense, creating margin pressure and challenges to sustain above-average growth.

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