KPIs & Operating Metrics(New)
Growth Metrics

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

Carlyle Secured Lending recorded quarterly Operating Expenses of $38.4 million in Q1 2026, down 9.64% quarter-over-quarter from $42.5 million in Q4 2025, and up 18.04% year-over-year from $32.6 million in Q1 2025.

Carlyle Secured Lending's Operating Expenses history runs 6 years deep, the most recent figure standing at $38.4 million for Q1 2026.

  • In Q1 2026, Operating Expenses rose 18.04% year-over-year to $38.4 million; the TTM figure through Mar 2026 stood at $158.8 million (up 27.61% YoY), while the FY2025 annual figure 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.
  • A 5-year average of $32.2 million and a median of $32.2 million in 2023 frame the typical range for Operating Expenses.
  • Across the five-year window, Operating Expenses jumped 44.58% in 2023 and slipped 6.79% in 2024, its largest moves.
  • Carlyle Secured Lending's Operating Expenses stood at $29.7 million in 2022, then grew by 11.7% to $33.2 million in 2023, then declined by 6.13% to $31.1 million in 2024, then surged by 36.65% to $42.5 million in 2025, then decreased by 9.64% to $38.4 million in 2026.
  • According to Business Quant data, Operating Expenses over the past three periods registered $38.4 million, $42.5 million, and $39.2 million for Q1 2026, Q4 2025, and Q3 2025 respectively.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 BlackRock 158.51 Bn 148.89 Bn - 3.88 Bn
2 Blackstone 92.68 Bn 91.63 Bn - 2.26 Bn
3 Kkr 84.94 Bn 132.45 Bn - 3.87 Bn
4 Brookfield Asset Management 77.34 Bn 77.68 Bn - 733.00 Mn
5 Apollo Global Management 76.27 Bn 95.00 Bn 5.04 Bn 4.68 Bn
6 State Street 44.42 Bn 18.75 Bn - 2.81 Bn
7 Ameriprise Financial 41.68 Bn 41.55 Bn 4.57 Bn 3.67 Bn
8 Northern Trust 31.21 Bn 31.21 Bn - 1.51 Bn
9 Ares Management 28.85 Bn 32.22 Bn - 1.17 Bn
10 Carlyle Secured Lending 780.70 Mn 683.46 Mn - 38.43 Mn

Historic Data

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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