Goldman Sachs BDC (GSBD) Operating Expenses (2021 - 2026)
Goldman Sachs BDC's (GSBD) quarterly Operating Expenses came in at $53.0 million in Q1 2026, up 15.26% YoY from $46.0 million in Q1 2025, and up 23.37% on a QoQ basis from $43.0 million in Q4 2025.
Goldman Sachs BDC (GSBD) Operating Expenses (2021 - 2026) Analysis & Trends
Goldman Sachs BDC (GSBD) has 6 years of Operating Expenses data on file, last reported at $53.0 million in 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 rose to $53.0 million in Q1 2026, from $43.0 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $58.6 million in Q1 2023 to a low of $25.2 million in Q4 2022.
- A 5-year average of $42.7 million and a median of $45.6 million in 2023 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2022 — Operating Expenses jumped 1203.63% — and 2024, when it dropped 15.41%.
- Tracing GSBD's Operating Expenses over 5 years: stood at $25.2 million in 2022, then surged by 106.09% to $51.9 million in 2023, then fell by 11.8% to $45.8 million in 2024, then decreased by 6.07% to $43.0 million in 2025, then advanced by 23.37% to $53.0 million in 2026.
- The last three Operating Expenses figures came in at $53.0 million (Q1 2026), $43.0 million (Q4 2025), and $45.4 million (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 176.99 Bn | 163.12 Bn | - | 4.62 Bn |
| 2 | Blackstone | 113.16 Bn | 110.65 Bn | - | 2.38 Bn |
| 3 | Kkr | 96.05 Bn | -181.02 Bn | - | 5.41 Bn |
| 4 | Brookfield | 92.54 Bn | 45.14 Bn | - | 14.94 Bn |
| 5 | Brookfield Asset Management | 82.31 Bn | 80.81 Bn | - | 659.00 Mn |
| 6 | Apollo Global Management | 77.14 Bn | 51.77 Bn | 10.54 Bn | 8.74 Bn |
| 7 | State Street | 50.64 Bn | 50.64 Bn | - | 2.66 Bn |
| 8 | Ameriprise Financial | 50.31 Bn | 39.27 Bn | 4.72 Bn | 3.50 Bn |
| 9 | Northern Trust | 33.61 Bn | 33.61 Bn | - | 1.64 Bn |
| 10 | Goldman Sachs BDC | 1.12 Bn | 1.12 Bn | - | 40.67 Mn |
Historic Data
Download 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 | 58.64 Mn |
| Dec 31, 2022 | 25.17 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 | 33.49 Mn |