Goldman Sachs BDC (GSBD) Operating Expenses (2021 - 2026)
Goldman Sachs BDC's Operating Expenses came in at $40.67 million for Q2 2026, down 10.8% from $45.61 million a year earlier and down 23.3% from the prior quarter.
Powered by 
Analysis
Goldman Sachs BDC (GSBD) Operating Expenses (2021 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Goldman Sachs BDC reported Operating Expenses of $182.05 million, up 2.2% year-over-year; for FY2025, it was $179.98 million, up 2.0% from FY2024.
- Operating Expenses carries a five-year compound annual growth rate of 12.8% (FY2020 to FY2025).
- Going back by year, Operating Expenses was $176.52 million in FY2024 (-13.8%), $204.82 million in FY2023 (+50.4%), $136.15 million in FY2022 (-2.7%) and $139.9 million in FY2021 (+41.9%).
- The Q2 2026 figure represents the lowest quarterly Operating Expenses since Q2 2024.
- Year-over-year, Operating Expenses increased in three of the last eight quarters, with an average decline of 0.9%.
- The fastest year-over-year change in Operating Expenses over five years came in Q1 2023 (growth of 73.9%), and the weakest in Q1 2024 (a decline of 18.2%).
- Business Quant data shows GSBD's Operating Expenses at $53.03 million (Q1 2026), $42.98 million (Q4 2025) and $45.38 million (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Rocket Companies | 43.26 Bn | 28.94 Bn | - | 2.50 Bn |
| 2 | Orix | 42.40 Bn | 42.90 Bn | - | 4.66 Bn |
| 3 | Royalty Pharma | 33.56 Bn | 33.47 Bn | - | 541.02 Mn |
| 4 | Federal National Mortgage Association Fannie Mae | 24.47 Bn | 24.47 Bn | - | 2.07 Bn |
| 5 | Affirm Holdings | 23.34 Bn | 17.03 Bn | - | 1.02 Bn |
| 6 | Synchrony Financial | 23.06 Bn | -44.91 Bn | - | 1.33 Bn |
| 7 | Royal Gold | 19.98 Bn | 19.21 Bn | 390.45 Mn | 173.18 Mn |
| 8 | Annaly Capital Management | 14.18 Bn | 5.27 Bn | - | 58.19 Mn |
| 9 | Ares Capital | 13.71 Bn | 11.15 Bn | - | - |
| 10 | Goldman Sachs BDC | 1.02 Bn | 1.02 Bn | - | 40.67 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 40.67 Mn |
| 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 | 51.88 Mn |
| Sep 30, 2023 | 45.60 Mn |
| Jun 30, 2023 | 46.70 Mn |
| Mar 31, 2023 | 60.63 Mn |
| Dec 31, 2022 | 36.90 Mn |
| Sep 30, 2022 | 33.20 Mn |
| Jun 30, 2022 | 31.19 Mn |
| Mar 31, 2022 | 34.87 Mn |
| Dec 31, 2021 | 33.51 Mn |
| Sep 30, 2021 | 33.49 Mn |
API Access
Goldman Sachs 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=GSBD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "GSBD", "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=GSBD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();