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
Download Data| Date | Value |
|---|---|
| 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 |