Bain Capital Specialty Finance (BCSF) Operating Expenses (2021 - 2026)

Bain Capital Specialty Finance (BCSF) recorded quarterly Operating Expenses of $37.9 million in Q1 2026, little changed quarter-over-quarter from $37.7 million in Q4 2025, and up 12.63% on a YoY basis from $33.7 million in Q1 2025.

Bain Capital Specialty Finance (BCSF) Operating Expenses (2021 - 2026) Analysis & Trends

Bain Capital Specialty Finance's Operating Expenses history runs 6 years deep, the most recent figure standing at $37.9 million for Q1 2026.

  • In Q1 2026, Operating Expenses rose 12.63% year-over-year to $37.9 million; the TTM figure through Mar 2026 stood at $152.1 million (up 3.06% YoY), while the FY2025 annual figure was $147.9 million, down 3.65% from the prior year.
  • Operating Expenses was $37.9 million for Q1 2026 at Bain Capital Specialty Finance, roughly flat from $37.7 million in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $42.0 million in Q1 2023 to a low of $23.8 million in Q4 2022.
  • Historically, Operating Expenses has averaged $35.0 million across 5 years, with a median of $37.5 million in 2024.
  • The sharpest annual moves came in 2022 and 2025: Operating Expenses soared 138.37% in 2022, then slipped 14.85% in 2025.
  • A 5-year view of Operating Expenses shows it stood at $23.8 million in 2022, then surged by 64.31% to $39.0 million in 2023, then decreased by 1.49% to $38.4 million in 2024, then retreated by 1.83% to $37.7 million in 2025, then gained by 0.43% to $37.9 million in 2026.
  • The last three Operating Expenses figures came in at $37.9 million (Q1 2026), $37.7 million (Q4 2025), and $37.2 million (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 BlackRock 163.18 Bn 153.56 Bn - 3.88 Bn
2 Blackstone 96.85 Bn 95.80 Bn - 2.26 Bn
3 Kkr 86.45 Bn 133.96 Bn - 3.87 Bn
4 Apollo Global Management 82.30 Bn 101.04 Bn 5.04 Bn 4.68 Bn
5 State Street 46.95 Bn 21.27 Bn - 2.81 Bn
6 Ameriprise Financial 43.65 Bn 43.52 Bn 4.57 Bn 3.67 Bn
7 Northern Trust 31.92 Bn 31.92 Bn - 1.51 Bn
8 Raymond James Financial 30.62 Bn 19.37 Bn - 3.12 Bn
9 Ares Management 29.04 Bn 32.41 Bn - 1.17 Bn
10 Bain Capital Specialty Finance - - - 37.90 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 37.90 Mn
Dec 31, 2025 37.74 Mn
Sep 30, 2025 37.20 Mn
Jun 30, 2025 39.30 Mn
Mar 31, 2025 33.65 Mn
Dec 31, 2024 38.44 Mn
Sep 30, 2024 37.53 Mn
Jun 30, 2024 38.00 Mn
Mar 31, 2024 39.52 Mn
Dec 31, 2023 39.03 Mn
Sep 30, 2023 36.10 Mn
Jun 30, 2023 35.71 Mn
Mar 31, 2023 41.98 Mn
Dec 31, 2022 23.75 Mn
Sep 30, 2022 28.71 Mn
Jun 30, 2022 25.65 Mn
Mar 31, 2022 24.31 Mn
Dec 31, 2021 -61.90 Mn
Sep 30, 2021 27.78 Mn