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
DateValue
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