Carlyle Secured Lending (CGBD) Operating Expenses (2021 - 2026)

Carlyle Secured Lending's (CGBD) quarterly Operating Expenses came in at $38.4 million in Q1 2026, up 18.04% year-on-year from $32.6 million in Q1 2025, and down 9.64% quarter-over-quarter from $42.5 million in Q4 2025.

Carlyle Secured Lending (CGBD) Operating Expenses (2021 - 2026) Analysis & Trends

Carlyle Secured Lending has disclosed Operating Expenses across 6 years of filings, most recently posting $38.4 million for Q1 2026.

  • Operating Expenses for Q1 2026 came in at $38.4 million, up 18.04% year-over-year; the trailing twelve-month figure through Mar 2026 was $158.8 million (up 27.61% YoY), and the FY2025 annual result was $152.9 million, up 22.73% from the prior year.
  • Operating Expenses came in at $38.4 million for Q1 2026 at Carlyle Secured Lending, down from $42.5 million in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $42.5 million in Q4 2025 to a low of $21.6 million in Q1 2022.
  • The 5-year median for Operating Expenses is $32.2 million (2023), against an average of $32.2 million.
  • Across the five-year window, Operating Expenses soared 44.58% in 2023 and decreased 6.79% in 2024, its largest moves.
  • Carlyle Secured Lending's Operating Expenses stood at $29.7 million in 2022, then climbed by 11.7% to $33.2 million in 2023, then dropped by 6.13% to $31.1 million in 2024, then jumped by 36.65% to $42.5 million in 2025, then retreated by 9.64% to $38.4 million in 2026.
  • The last three Operating Expenses figures came in at $38.4 million (Q1 2026), $42.5 million (Q4 2025), and $39.2 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 Carlyle Secured Lending 775.73 Mn 678.49 Mn - 38.43 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 38.43 Mn
Dec 31, 2025 42.54 Mn
Sep 30, 2025 39.17 Mn
Jun 30, 2025 38.65 Mn
Mar 31, 2025 32.56 Mn
Dec 31, 2024 31.13 Mn
Sep 30, 2024 30.33 Mn
Jun 30, 2024 30.41 Mn
Mar 31, 2024 32.73 Mn
Dec 31, 2023 33.16 Mn
Sep 30, 2023 32.54 Mn
Jun 30, 2023 32.24 Mn
Mar 31, 2023 31.28 Mn
Dec 31, 2022 29.69 Mn
Sep 30, 2022 27.54 Mn
Jun 30, 2022 22.52 Mn
Mar 31, 2022 21.64 Mn
Dec 31, 2021 21.17 Mn
Sep 30, 2021 21.51 Mn