BlackRock TCP Capital (TCPC) Operating Expenses (2021 - 2026)
BlackRock TCP Capital's (TCPC) quarterly Operating Expenses came in at $24.1 million in Q1 2026, up 1.77% YoY from $23.7 million in Q1 2025, and up 5.02% on a QoQ basis from $23.0 million in Q4 2025.
BlackRock TCP Capital (TCPC) Operating Expenses (2021 - 2026) Analysis & Trends
BlackRock TCP Capital (TCPC) has 6 years of Operating Expenses data on file, last reported at $24.1 million in Q1 2026.
- Quarterly Operating Expenses rose 1.77% year-over-year to $24.1 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $94.2 million (down 23.68% YoY) and the FY2025 annual result came in at $99.2 million, down 21.95% from the prior year.
- Operating Expenses climbed to $24.1 million in Q1 2026, from $23.0 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $37.1 million in Q3 2024 to a low of $22.4 million in Q1 2022.
- A 5-year average of $25.9 million and a median of $24.1 million in 2026 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2024 — Operating Expenses jumped 43.19% — and 2025, when it tumbled 37.3%.
- Tracing TCPC's Operating Expenses over 5 years: stood at $23.7 million in 2022, then gained by 7.28% to $25.4 million in 2023, then gained by 6.08% to $26.9 million in 2024, then dropped by 14.77% to $23.0 million in 2025, then climbed by 5.02% to $24.1 million in 2026.
- The last three Operating Expenses figures came in at $24.1 million (Q1 2026), $23.0 million (Q4 2025), and $23.2 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 | BlackRock TCP Capital | 339.02 Mn | 181.47 Mn | - | 21.88 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 21.88 Mn |
| Mar 31, 2026 | 24.11 Mn |
| Dec 31, 2025 | 22.95 Mn |
| Sep 30, 2025 | 23.23 Mn |
| Jun 30, 2025 | 23.87 Mn |
| Mar 31, 2025 | 23.69 Mn |
| Dec 31, 2024 | 26.93 Mn |
| Sep 30, 2024 | 37.05 Mn |
| Jun 30, 2024 | 35.70 Mn |
| Mar 31, 2024 | 27.47 Mn |
| Dec 31, 2023 | 25.39 Mn |
| Sep 30, 2023 | 25.88 Mn |
| Jun 30, 2023 | 26.36 Mn |
| Mar 31, 2023 | 24.90 Mn |
| Dec 31, 2022 | 23.67 Mn |
| Sep 30, 2022 | 23.81 Mn |
| Jun 30, 2022 | 22.69 Mn |
| Mar 31, 2022 | 22.40 Mn |
| Dec 31, 2021 | 21.94 Mn |
| Sep 30, 2021 | 24.02 Mn |