Golub Capital Bdc (GBDC) Operating Expenses (2021 - 2026)
Golub Capital Bdc (GBDC) posted Operating Expenses of $372,000 for fiscal Q3 2026 (quarter ended Jun 30, 2026), down 99.7% from $117.08 million a year earlier and down 0.8% from the prior quarter.
Golub Capital Bdc (GBDC) Operating Expenses (2021 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Operating Expenses at Golub Capital Bdc was $118.22 million, down 65.0% year-over-year; for FY2025 (ended Sep 30, 2025), it came in at $473.97 million, up 39.0% from FY2024.
- Annual Operating Expenses has increased for four consecutive fiscal years, with a five-year compound annual growth rate of 24.3% (FY2020 to FY2025).
- In prior fiscal years, Golub Capital Bdc's Operating Expenses was $341.05 million in FY2024 (+9.9%), $310.32 million in FY2023 (+62.0%), $191.61 million in FY2022 (+37.4%) and $139.45 million in FY2021 (-12.8%).
- The fiscal Q3 2026 figure stands as the lowest quarterly Operating Expenses since fiscal Q1 2023.
- On a year-over-year basis, Operating Expenses has declined in each of the last three quarters, with an average decline of 4.9% over the last eight quarters.
- The strongest year-over-year quarter for Operating Expenses in the past five years was fiscal Q3 2023, with growth of 94.1%; the weakest was fiscal Q3 2026, with a decline of 99.7%.
- According to Business Quant data, Operating Expenses for the three prior fiscal quarters was $375,000 (Q2 2026), $398,000 (Q1 2026) and $117.08 million (Q4 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Rocket Companies | 43.94 Bn | 29.62 Bn | - | 2.50 Bn |
| 2 | Orix | 41.70 Bn | 42.20 Bn | - | 4.66 Bn |
| 3 | Royalty Pharma | 32.87 Bn | 32.78 Bn | - | 541.02 Mn |
| 4 | Federal National Mortgage Association Fannie Mae | 25.52 Bn | 25.52 Bn | - | 2.07 Bn |
| 5 | Affirm Holdings | 23.86 Bn | 17.55 Bn | - | 1.02 Bn |
| 6 | Synchrony Financial | 23.33 Bn | -44.64 Bn | - | 1.33 Bn |
| 7 | Royal Gold | 19.87 Bn | 19.09 Bn | 390.45 Mn | 173.18 Mn |
| 8 | Annaly Capital Management | 13.89 Bn | 4.98 Bn | - | 58.19 Mn |
| 9 | Ares Capital | 13.54 Bn | 10.98 Bn | - | - |
| 10 | Golub Capital Bdc | 3.26 Bn | 3.26 Bn | - | 372,000.00 |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 372,000.00 |
| Mar 31, 2026 | 375,000.00 |
| Dec 31, 2025 | 398,000.00 |
| Sep 30, 2025 | 117.08 Mn |
| Jun 30, 2025 | 117.08 Mn |
| Mar 31, 2025 | 115.23 Mn |
| Dec 31, 2024 | 561,000.00 |
| Sep 30, 2024 | 104.76 Mn |
| Jun 30, 2024 | 78.42 Mn |
| Mar 31, 2024 | 77.13 Mn |
| Dec 31, 2023 | 381,000.00 |
| Sep 30, 2023 | 79.85 Mn |
| Jun 30, 2023 | 80.94 Mn |
| Mar 31, 2023 | 76.52 Mn |
| Dec 31, 2022 | 313,000.00 |
| Sep 30, 2022 | 65.62 Mn |
| Jun 30, 2022 | 41.70 Mn |
| Mar 31, 2022 | 42.52 Mn |
| Dec 31, 2021 | 342,000.00 |
Golub Capital Bdc Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=GBDC&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "GBDC", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=GBDC&period=max&api_key=YOUR_API_KEY");
const data = await res.json();