BXSL Stock Analysis: Blackstone Secured Lending | NYSE
Asset Management | NYSE, USA | Market Cap: 5.453m USD | 12M Return: -16.9% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 41.7M
EPS Trend: -86.1%
Qual. Beats: 1
Rev. Trend: 76.2%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 4.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Blackstone Secured Lending Fund (BXSL) is an externally managed, non-diversified closed-end investment fund structured as a Delaware statutory trust and regulated as a Business Development Company (BDC) under the Investment Company Act of 1940. Formed on March 26, 2018, and electing BDC status on October 26, 2018, the fund also elected to be treated as a regulated investment company (RIC) under Subchapter M of the Internal Revenue Code, a tax classification that generally requires it to distribute the majority of its taxable income to shareholders. The funds investment objectives are to generate current income and, to a lesser extent, long-term capital appreciation, primarily through originated loans, equity, and other securities-including syndicated loans-of private U.S. small and middle market companies. Its portfolio is weighted toward first lien senior secured and unitranche loans (including first out/last out structures), with smaller exposures to second lien, third lien, unsecured, and subordinated loans and equity securities. BXSL has traded on the NYSE since its October 28, 2021 IPO and is classified within the Financials sector, specifically in the asset management and custody banking sub-industry.
- SOFR rate cuts compress BXSL net investment income
- Non-accruals rise on middle market borrower credit stress
- New loan originations drive AUM and fee income growth
| Net Income: 438.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.04 > 0.02 and ΔFCF/TA 7.82 > 1.0 |
| NWC/Revenue: 15.27% < 20% (prev 73.10%; Δ -57.83% < -1%) |
| CFO/TA -0.02 > 3% & CFO -220.8m > Net Income 438.9m |
| Net Debt (7.68b) to EBITDA (747.6m): 10.28 < 3 |
| Current Ratio: 1.54 > 1.5 & < 3 |
| Outstanding Shares: last quarter (232.2m) vs 12m ago 2.48% < -2% |
| Gross Margin: 78.39% > 18% (prev 67.11%; Δ 11.28% > 0.5%) |
| Asset Turnover: 7.29% > 50% (prev 7.46%; Δ -0.17% > 0%) |
| Interest Coverage Ratio: 1.18 > 6 (EBIT TTM 651.8m / Interest Expense TTM 551.6m) |
| A: 0.01 (Total Current Assets 453.2m - Total Current Liabilities 295.1m) / Total Assets 14.4b |
| B: 0.00 (Retained Earnings 43.6m / Total Assets 14.4b) |
| C: 0.05 (EBIT TTM 651.8m / Avg Total Assets 14.2b) |
| D: 0.73 (Book Value of Equity 6.10b / Total Liabilities 8.34b) |
| Altman-Z'' = 1.16 = BB |
As of July 13, 2026, the stock is trading at USD 23.44 with a total of 999,964 shares traded. Over the past week, the price has changed by -1.39%, over one month by +1.45%, over three months by +2.36% and over the past year by -16.92%.
Current recommended Stop Loss: 22.70 (which is 3.2% or 1.5 ATR below the current price).
Blackstone Secured Lending has received a consensus analysts rating of 4.11. Therefore, it is recommended to buy BXSL.
- StrongBuy: 4
- Buy: 2
- Hold: 3
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 24.5 | 4.5% |
P/E Trailing = 12.2723
P/E Forward = 9.6618
P/S = 3.9327
P/B = 0.894
Revenue TTM = 1.04b USD
EBIT TTM = 651.8m USD
EBITDA TTM = 747.6m USD
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = 8.03b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 7.68b USD (calculated: Debt 8.03b - CCE 351.3m)
Enterprise Value = 13.1b USD (5.45b + Debt 8.03b - CCE 351.3m)
Interest Coverage Ratio = 1.18 (Ebit TTM 651.8m / Interest Expense TTM 551.6m)
EV/FCF = -20.72x (Enterprise Value 13.1b / FCF TTM -634.1m)
FCF Yield = -4.83% (FCF TTM -634.1m / Enterprise Value 13.1b)
FCF Margin = -61.24% (FCF TTM -634.1m / Revenue TTM 1.04b)
Net Margin = 42.39% (Net Income TTM 438.9m / Revenue TTM 1.04b)
Gross Margin = 78.39% ((Revenue TTM 1.04b - Cost of Revenue TTM 223.8m) / Revenue TTM)
Gross Margin QoQ = 87.80% (prev 94.40%)
Tobins Q-Ratio = 0.91 (Enterprise Value 13.1b / Total Assets 14.4b)
Interest Expense / Debt = 6.87% (Interest Expense 551.6m / Debt 8.03b)
Taxrate = 3.59% (16.0m / 446.9m)
NOPAT = 628.5m (EBIT 651.8m * (1 - 3.59%))
Current Ratio = 1.54 (Total Current Assets 453.2m / Total Current Liabilities 295.1m)
Debt / Equity = 1.32 (Debt 8.03b / totalStockholderEquity, last quarter 6.10b)
Debt / EBITDA = 10.28 (Net Debt 7.68b / EBITDA 747.6m)
Debt / FCF = -12.12 (negative FCF - burning cash) (Net Debt 7.68b / FCF TTM -634.1m)
Total Stockholder Equity = 6.23b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.09% (Net Income 438.9m / Total Assets 14.4b)
RoE = 7.05% (Net Income TTM 438.9m / Total Stockholder Equity 6.23b)
RoCE = 4.61% (EBIT 651.8m / Capital Employed (Total Assets 14.4b - Current Liab 295.1m))
RoIC = 4.46% (NOPAT 628.5m / Invested Capital 14.1b)
WACC = 7.06% (E(5.45b)/V(13.5b) * Re(7.72%) + D(8.03b)/V(13.5b) * Rd(6.87%) * (1-Tc(0.04)))
Discount Rate = 7.72% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 95.56 | Cagr: 15.59%
[DCF] Fair Price = unknown (Cash Flow -634.1m)
EPS Correlation: -86.10 | EPS CAGR: -6.32% | SUE: 1.17 | # QB: 1
Revenue Correlation: 76.16 | Revenue CAGR: 9.81% | SUE: -0.35 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.66 | Chg30d=+0.65% | Revisions=+0% | Analysts=10
EPS next Quarter (2026-09-30): EPS=0.67 | Chg30d=+0.59% | Revisions=+0% | Analysts=10
EPS current Year (2026-12-31): EPS=2.74 | Chg30d=+0.52% | Revisions=+0% | GrowthEPS=-15.2% | GrowthRev=-8.0%
EPS next Year (2027-12-31): EPS=2.57 | Chg30d=-1.48% | Revisions=-62% | GrowthEPS=-6.2% | GrowthRev=-0.9%
[Analyst] Revisions Ratio: -62% (up=0, down=5)