Growth Metrics

Golub Capital Bdc (GBDC) Operating Expenses (2021 - 2026)

Golub Capital Bdc recorded quarterly Operating Expenses of $102.6 million in Q1 2026, down 7.79% quarter-over-quarter from $111.2 million in Q4 2025, and down 10.97% year-over-year from $115.2 million in Q1 2025.

Golub Capital Bdc's Operating Expenses history runs 6 years deep, the most recent figure standing at $102.6 million for Q1 2026.

  • In Q1 2026, Operating Expenses fell 10.97% year-over-year to $102.6 million; the TTM figure through Mar 2026 stood at $448.0 million (up 7.22% YoY), while the FY2025 annual figure was $474.0 million, up 38.98% from the prior year.
  • Operating Expenses came in at $102.6 million for Q1 2026 at Golub Capital Bdc, down 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 $87.6 million and a median of $82.3 million in 2024 frame the typical range for Operating Expenses.
  • Across the five-year window, Operating Expenses surged 94.11% in 2023 and dropped 10.97% in 2026, its largest moves.
  • Golub Capital Bdc's Operating Expenses stood at $73.0 million in 2022, then gained by 10.57% to $80.7 million in 2023, then jumped by 54.31% to $124.6 million in 2024, then slipped by 10.7% to $111.2 million in 2025, then retreated by 7.79% to $102.6 million in 2026.
  • According to Business Quant data, Operating Expenses over the past three periods registered $102.6 million, $111.2 million, and $117.1 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 Golub Capital Bdc 3.52 Bn 3.49 Bn - 102.59 Mn

Historic Data

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DateValue
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 82.28 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 42.52 Mn
Dec 31, 2021 41.78 Mn