Goldman Sachs BDC (GSBD) Operating Expenses (2021 - 2026)
Goldman Sachs BDC (GSBD) recorded quarterly Operating Expenses of $53.0 million in Q1 2026, up 23.37% on a QoQ basis from $43.0 million in Q4 2025, and up 15.26% year-over-year from $46.0 million in Q1 2025.
Goldman Sachs BDC (GSBD) Operating Expenses (2021 - 2026) Analysis & Trends
Goldman Sachs BDC has disclosed Operating Expenses across 6 years of filings, most recently posting $53.0 million for Q1 2026.
- Quarterly Operating Expenses rose 15.26% year-over-year to $53.0 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $187.0 million (up 8.14% YoY) and the FY2025 annual result came in at $180.0 million, up 1.96% from the prior year.
- Operating Expenses climbed to $53.0 million in Q1 2026, from $43.0 million in the prior quarter.
- Over five years, Operating Expenses peaked at $60.6 million in Q1 2023 and troughed at $27.0 million in Q2 2022.
- A 5-year average of $44.0 million and a median of $45.6 million in 2025 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2022 — Operating Expenses surged 2417.92% — and 2024, when it slipped 18.18%.
- Tracing GSBD's Operating Expenses over 5 years: stood at $48.6 million in 2022, then rose by 2.62% to $49.9 million in 2023, then slipped by 8.29% to $45.8 million in 2024, then dropped by 6.07% to $43.0 million in 2025, then grew by 23.37% to $53.0 million in 2026.
- Business Quant data shows GSBD's Operating Expenses at $53.0 million in Q1 2026, $43.0 million in Q4 2025, and $45.4 million in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 163.18 Bn | 153.56 Bn | - | 3.88 Bn |
| 2 | Blackstone | 96.85 Bn | 95.80 Bn | - | 2.26 Bn |
| 3 | Kkr | 86.45 Bn | 133.96 Bn | - | 3.87 Bn |
| 4 | Apollo Global Management | 82.30 Bn | 101.04 Bn | 5.04 Bn | 4.68 Bn |
| 5 | State Street | 46.95 Bn | 21.27 Bn | - | 2.81 Bn |
| 6 | Ameriprise Financial | 43.65 Bn | 43.52 Bn | 4.57 Bn | 3.67 Bn |
| 7 | Northern Trust | 31.92 Bn | 31.92 Bn | - | 1.51 Bn |
| 8 | Raymond James Financial | 30.62 Bn | 19.37 Bn | - | 3.12 Bn |
| 9 | Ares Management | 29.04 Bn | 32.41 Bn | - | 1.17 Bn |
| 10 | Goldman Sachs BDC | - | - | - | 53.03 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 53.03 Mn |
| Dec 31, 2025 | 42.98 Mn |
| Sep 30, 2025 | 45.38 Mn |
| Jun 30, 2025 | 45.61 Mn |
| Mar 31, 2025 | 46.00 Mn |
| Dec 31, 2024 | 45.76 Mn |
| Sep 30, 2024 | 40.74 Mn |
| Jun 30, 2024 | 40.42 Mn |
| Mar 31, 2024 | 49.61 Mn |
| Dec 31, 2023 | 49.89 Mn |
| Sep 30, 2023 | 45.60 Mn |
| Jun 30, 2023 | 46.70 Mn |
| Mar 31, 2023 | 60.63 Mn |
| Dec 31, 2022 | 48.62 Mn |
| Sep 30, 2022 | 33.20 Mn |
| Jun 30, 2022 | 27.01 Mn |
| Mar 31, 2022 | 27.32 Mn |
| Dec 31, 2021 | 1.93 Mn |
| Sep 30, 2021 | 32.05 Mn |