(BXSL) Blackstone Secured Lending - NYSE
Sector: Financial Services | Industry: Asset Management | Exchange: NYSE (USA) | Market Cap: 5.557m USD | Total Return: -14.2% in 12m
Avg Turnover: 36.4M
EPS Trend: -86.1%
Qual. Beats: 1
Rev. Trend: 76.2%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Blackstone Secured Lending Fund (BXSL) is an externally managed, non-diversified closed-end investment company operating as a Business Development Company (BDC). Formed in 2018, the fund is structured as a Regulated Investment Company (RIC) for tax purposes, requiring it to distribute at least 90% of its taxable income to shareholders annually. Its primary investment objective is to generate current income and long-term capital appreciation through debt and equity investments in private U.S. small and middle-market companies.
The fund focuses on senior secured debt, specifically first lien and unitranche loans, which hold priority in a borrowers capital structure. This strategy targets the middle market, a segment often underserved by traditional commercial banks due to regulatory capital constraints. By focusing on floating-rate loans, BDCs like BXSL often see interest income adjust in correlation with broader market rate changes.
Investors can evaluate the funds historical performance and portfolio health further by reviewing the data on ValueRay.
- Floating rate loan exposure links interest income to Federal Reserve rate policy
- First lien senior secured focus mitigates credit losses during economic downturns
- Blackstone platform access drives proprietary deal flow and high quality originations
- Middle market default rates impact net asset value and dividend coverage ratios
- Regulatory compliance as a RIC ensures pass-through tax status for investors
| 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 -347.0m > 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 June 15, 2026, the stock is trading at USD 23.85 with a total of 1,198,982 shares traded.
Over the past week, the price has changed by +1.19%,
over one month by -1.08%,
over three months by +4.75% and
over the past year by -14.16%.
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 | 24.6 | 3.1% |
P/E Trailing = 12.5052
P/E Forward = 9.8717
P/S = 4.0074
P/B = 0.9127
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 = 13.2b USD (5.56b + Debt 8.03b - CCE 351.3m)
Interest Coverage Ratio = 1.18 (Ebit TTM 651.8m / Interest Expense TTM 551.6m)
EV/FCF = -20.88x (Enterprise Value 13.2b / FCF TTM -634.1m)
FCF Yield = -4.79% (FCF TTM -634.1m / Enterprise Value 13.2b)
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 = 0.92 (Enterprise Value 13.2b / 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 = 7.05% (E(5.56b)/V(13.6b) * Re(7.68%) + D(8.03b)/V(13.6b) * Rd(6.87%) * (1-Tc(0.04)))
Discount Rate = 7.68% (= 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=+1.89% | Revisions=-56% | Analysts=9
EPS next Quarter (2026-09-30): EPS=0.66 | Chg30d=+2.12% | Revisions=-56% | Analysts=9
EPS current Year (2026-12-31): EPS=2.73 | Chg30d=+1.00% | Revisions=-64% | GrowthEPS=-15.4% | GrowthRev=-8.0%
EPS next Year (2027-12-31): EPS=2.59 | Chg30d=-3.68% | Revisions=-40% | GrowthEPS=-5.1% | GrowthRev=-0.8%
[Analyst] Revisions Ratio: -64%