Golub Capital Bdc (GBDC) Operating Expenses (2021 - 2026)
Golub Capital Bdc (GBDC) reported Operating Expenses of $102.6 million for Q1 2026, down 10.97% on a YoY basis from $115.2 million in Q1 2025, and down 7.79% sequentially from $111.2 million in Q4 2025.
Golub Capital Bdc (GBDC) Operating Expenses (2021 - 2026) Analysis & Trends
Golub Capital Bdc (GBDC) has 6 years of Operating Expenses data on file, last reported at $102.6 million in Q1 2026.
- For the quarter ending Q1 2026, Operating Expenses fell 10.97% year-over-year to $102.6 million; the trailing twelve-month figure through Mar 2026 stood at $448.0 million (up 7.22% YoY), and the FY2025 full-year result was $474.0 million, up 38.98% from the prior year.
- Operating Expenses eased to $102.6 million in Q1 2026, from $111.2 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $124.6 million in Q4 2024 to a low of $41.7 million in Q2 2022.
- A 5-year average of $87.4 million and a median of $80.9 million in 2023 frame the typical range for Operating Expenses.
- Across the five-year window, Operating Expenses jumped 94.11% in 2023 and slipped 10.97% in 2026, its largest moves.
- Tracing GBDC's Operating Expenses over 5 years: stood at $73.0 million in 2022, then increased by 10.57% to $80.7 million in 2023, then surged by 54.31% to $124.6 million in 2024, then retreated by 10.7% to $111.2 million in 2025, then declined by 7.79% to $102.6 million in 2026.
- Business Quant data shows GBDC's Operating Expenses at $102.6 million in Q1 2026, $111.2 million in Q4 2025, and $117.1 million in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Brookfield | 1,236.60 Bn | 1,311.20 Bn | 18.56 Bn | -14.14 Bn |
| 2 | BlackRock | 161.01 Bn | 148.08 Bn | - | 3.88 Bn |
| 3 | Blackstone | 97.77 Bn | 96.72 Bn | - | 2.26 Bn |
| 4 | Apollo Global Management | 70.80 Bn | 90.38 Bn | -409.00 Mn | 4.68 Bn |
| 5 | State Street | 51.30 Bn | 51.30 Bn | - | 2.81 Bn |
| 6 | Ameriprise Financial | 48.54 Bn | 39.27 Bn | 4.57 Bn | 3.67 Bn |
| 7 | Northern Trust | 32.93 Bn | 32.93 Bn | - | 1.51 Bn |
| 8 | Raymond James Financial | 32.59 Bn | 17.67 Bn | - | 3.12 Bn |
| 9 | Price T Rowe | 24.70 Bn | 21.13 Bn | - | 1.18 Bn |
| 10 | Golub Capital Bdc | 3.36 Bn | 3.32 Bn | - | 102.59 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 102.59 Mn |
| Dec 31, 2025 | 111.25 Mn |
| Sep 30, 2025 | 117.08 Mn |
| Jun 30, 2025 | 117.08 Mn |
| Mar 31, 2025 | 115.23 Mn |
| Dec 31, 2024 | 124.59 Mn |
| Sep 30, 2024 | 85.20 Mn |
| Jun 30, 2024 | 92.82 Mn |
| Mar 31, 2024 | 77.13 Mn |
| Dec 31, 2023 | 80.74 Mn |
| Sep 30, 2023 | 79.85 Mn |
| Jun 30, 2023 | 80.94 Mn |
| Mar 31, 2023 | 76.52 Mn |
| Dec 31, 2022 | 73.01 Mn |
| Sep 30, 2022 | 65.62 Mn |
| Jun 30, 2022 | 41.70 Mn |
| Mar 31, 2022 | 44.43 Mn |
| Dec 31, 2021 | 41.78 Mn |