BlackRock TCP Capital (TCPC) Operating Expenses (2021 - 2026)
BlackRock TCP Capital (TCPC) reported Operating Expenses of $24.1 million for Q1 2026, up 1.77% on a YoY basis from $23.7 million in Q1 2025, and up 13.85% quarter-over-quarter from $21.2 million in Q4 2025.
BlackRock TCP Capital (TCPC) Operating Expenses (2021 - 2026) Analysis & Trends
BlackRock TCP Capital has reported Operating Expenses for 6 years, with the latest figure at $24.1 million in Q1 2026.
- For the quarter ending Q1 2026, Operating Expenses rose 1.77% year-over-year to $24.1 million; the trailing twelve-month figure through Mar 2026 stood at $92.4 million (down 25.12% YoY), and the FY2025 full-year result was $92.0 million, down 27.68% from the prior year.
- Operating Expenses for Q1 2026 stood at $24.1 million, up from $21.2 million in the prior quarter.
- The five-year high for Operating Expenses was $37.1 million in Q3 2024, with the low at $21.2 million in Q4 2025.
- Historically, Operating Expenses has averaged $25.8 million across 5 years, with a median of $24.1 million in 2026.
- Annual changes were most pronounced in 2024 — Operating Expenses jumped 43.19% — and 2025, when it tumbled 37.3%.
- BlackRock TCP Capital's Operating Expenses 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 fell by 21.39% to $21.2 million in 2025, then rose by 13.85% to $24.1 million in 2026.
- The last three Operating Expenses figures came in at $24.1 million (Q1 2026), $21.2 million (Q4 2025), and $23.2 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 | BlackRock TCP Capital | 287.16 Mn | 193.90 Mn | - | 24.11 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 24.11 Mn |
| Dec 31, 2025 | 21.17 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 |