Palmer Square Capital BDC (PSBD) Operating Expenses (2021 - 2026)
Palmer Square Capital BDC (PSBD) reported Operating Expenses of $15.2 million for Q1 2026, down 17.05% on a YoY basis from $18.3 million in Q1 2025, and down 9.38% quarter-over-quarter from $16.8 million in Q4 2025.
Palmer Square Capital BDC (PSBD) Operating Expenses (2021 - 2026) Analysis & Trends
Palmer Square Capital BDC has reported Operating Expenses for 6 years, with the latest figure at $15.2 million in Q1 2026.
- For the quarter ending Q1 2026, Operating Expenses fell 17.05% year-over-year to $15.2 million; the trailing twelve-month figure through Mar 2026 stood at $67.8 million (down 16.02% YoY), and the FY2025 full-year result was $70.9 million, down 12.39% from the prior year.
- Operating Expenses for Q1 2026 stood at $15.2 million, down from $16.8 million in the prior quarter.
- The five-year high for Operating Expenses was $21.6 million in Q3 2024, with the low at $5.9 million in Q1 2022.
- Historically, Operating Expenses has averaged $15.1 million across 5 years, with a median of $15.2 million in 2026.
- Annual changes were most pronounced in 2022 — Operating Expenses surged 135.31% — and 2026, when it retreated 17.05%.
- Palmer Square Capital BDC's Operating Expenses stood at $11.6 million in 2022, then grew by 26.84% to $14.7 million in 2023, then surged by 36.46% to $20.1 million in 2024, then fell by 16.57% to $16.8 million in 2025, then decreased by 9.38% to $15.2 million in 2026.
- The last three Operating Expenses figures came in at $15.2 million (Q1 2026), $16.8 million (Q4 2025), and $18.0 million (Q3 2025), per Business Quant data.
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 | Palmer Square Capital BDC | 336.83 Mn | 335.34 Mn | - | 15.18 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 15.18 Mn |
| Dec 31, 2025 | 16.75 Mn |
| Sep 30, 2025 | 18.04 Mn |
| Jun 30, 2025 | 17.84 Mn |
| Mar 31, 2025 | 18.30 Mn |
| Dec 31, 2024 | 20.08 Mn |
| Sep 30, 2024 | 21.58 Mn |
| Jun 30, 2024 | 20.79 Mn |
| Mar 31, 2024 | 18.52 Mn |
| Dec 31, 2023 | 14.71 Mn |
| Sep 30, 2023 | 14.24 Mn |
| Jun 30, 2023 | 13.50 Mn |
| Mar 31, 2023 | 12.83 Mn |
| Dec 31, 2022 | 11.60 Mn |
| Sep 30, 2022 | 9.77 Mn |
| Jun 30, 2022 | 7.22 Mn |
| Mar 31, 2022 | 5.87 Mn |
| Dec 31, 2021 | 5.86 Mn |
| Sep 30, 2021 | 4.15 Mn |