Overview Dividends

(BXSL) Blackstone Secured Lending - Ratings and Ratios

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US09261X1028

Senior Secured Loans, Unitranche Loans, Equity Securities

Asset Management & Custody Banks
Market Cap in USD: 6,088m

IPO / Inception: 2021-10-28
Return 12m vs S&P 500: -22.4%

EPS (Earnings per Share)

EPS CAGR: -43.30%
EPS Trend: -29.9%

Last SUE: -4.00
Qual. Beats: 0

Revenue

Rev. CAGR: 11.25%
Rev. Trend: 84.4%

Last SUE: -1.29
Qual. Beats: 0

Dividends

Dividend Yield	11.69%
Yield on Cost 5y	17.43%
Yield CAGR 5y	1.91%
Payout Consistency	99.0%
Payout Ratio	97.2%

Risk via 5d forecast
Volatility	24.1%
Value at Risk 5%th	40.5%
Relative Tail Risk	2.28%

Reward TTM
Sharpe Ratio	-0.45
Alpha	-20.75
CAGR/Max DD	0.72

Character TTM
Hurst Exponent	0.554
Beta	0.705
Beta Downside	0.890

Drawdowns 3y
Max DD	21.62%
Mean DD	4.64%
Median DD	2.91%

Description: BXSL Blackstone Secured Lending January 07, 2026

Blackstone Secured Lending Fund (BXSL) operates as a Delaware statutory trust and a Business Development Company (BDC) under the 1940 Act, electing Regulated Investment Company (RIC) tax status to pass income through to shareholders.

The fund’s primary goal is to generate current income, with secondary emphasis on long-term capital appreciation, by originating first-lien senior secured and unitranche loans to U.S. small- and middle-market companies, while also holding a smaller allocation to lower-ranking debt and equity securities.

Key operational metrics (as of the most recent filing) include an assets-under-management (AUM) base of roughly $2.5 billion, a distribution yield near 7.5 %, and a leverage ratio of about 1.4×, reflecting a moderate use of debt to enhance returns.

Sector-wide, BDC performance is closely tied to the U.S. credit cycle and interest-rate environment; a flattening yield curve and tightening spreads can compress loan pricing, while a resilient middle-market economy supports loan demand and credit quality.

For a deeper quantitative view, the ValueRay platform offers granular metrics on BXSL’s credit exposure and yield profile.

Piotroski VR‑10 (Strict, 0-10) 3.5

Net Income (599.8m TTM) > 0 and > 6% of Revenue (6% = 60.2m TTM)

FCFTA -0.08 (>2.0%) and ΔFCFTA 6.20pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 11.08% (prev 17.13%; Δ -6.05pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA -0.08 (>3.0%) and CFO -1.13b <= Net Income 599.8m (YES >=105%, WARN >=100%)

Net Debt (-249.9m) to EBITDA (615.8m) ratio: -0.41 <= 3.0 (WARN <= 3.5)

Current Ratio 1.46 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (230.5m) change vs 12m ago 13.29% (target <= -2.0% for YES)

Gross Margin 64.47% (prev 71.93%; Δ -7.46pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 7.53% (prev 8.21%; Δ -0.67pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 0.81 (EBITDA TTM 615.8m / Interest Expense TTM 356.4m) >= 6 (WARN >= 3)

Altman Z'' 0.28

(A) 0.01 = (Total Current Assets 355.1m - Total Current Liabilities 244.0m) / Total Assets 14.26b

(B) 0.02 = Retained Earnings (Balance) 233.6m / Total Assets 14.26b

(D) 0.03 = Book Value of Equity 233.8m / Total Liabilities 7.99b

Total Rating: 0.28 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 50.94

1. Piotroski 3.50pt

2. FCF Yield -8.79%

3. FCF Margin data missing

4. Debt/Equity 1.13

5. Debt/Ebitda -0.41

6. ROIC - WACC (= -2.56)%

7. RoE 9.64%

8. Rev. Trend 84.36%

9. EPS Trend -29.85%

What is the price of BXSL shares?

As of January 09, 2026, the stock is trading at USD 26.35 with a total of 1,991,484 shares traded.
Over the past week, the price has changed by -0.87%, over one month by -4.08%, over three months by +4.58% and over the past year by -8.13%.

Is BXSL a buy, sell or hold?

Blackstone Secured Lending has received a consensus analysts rating of 4.11. Therefore, it is recommended to buy BXSL.

Strong Buy: 4
Buy: 2
Hold: 3
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the BXSL price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	29.8	13%
Analysts Target Price	29.8	13%
ValueRay Target Price	31.6	19.7%

BXSL Fundamental Data Overview January 03, 2026

P/E Trailing = 9.9358
P/E Forward = 8.7489
P/S = 4.3062
P/B = 0.971
Beta = 0.437
Revenue TTM = 1.00b USD
EBIT TTM = 288.4m USD
EBITDA TTM = 615.8m USD
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = 7.06b USD (from shortLongTermDebtTotal, last fiscal year)
Net Debt = -249.9m USD (from netDebt column, last quarter)
Enterprise Value = 12.89b USD (6.09b + Debt 7.06b - CCE 249.9m)
Interest Coverage Ratio = 0.81 (Ebit TTM 288.4m / Interest Expense TTM 356.4m)
FCF Yield = -8.79% (FCF TTM -1.13b / Enterprise Value 12.89b)
FCF Margin = -113.0% (FCF TTM -1.13b / Revenue TTM 1.00b)
Net Margin = 59.80% (Net Income TTM 599.8m / Revenue TTM 1.00b)
Gross Margin = 64.47% ((Revenue TTM 1.00b - Cost of Revenue TTM 356.4m) / Revenue TTM)
Gross Margin QoQ = 63.00% (prev 66.79%)
Tobins Q-Ratio = 0.90 (Enterprise Value 12.89b / Total Assets 14.26b)
Interest Expense / Debt = 1.23% (Interest Expense 87.0m / Debt 7.06b)
Taxrate = 3.10% (4.23m / 136.7m)
NOPAT = 279.5m (EBIT 288.4m * (1 - 3.10%))
Current Ratio = 1.46 (Total Current Assets 355.1m / Total Current Liabilities 244.0m)
Debt / Equity = 1.13 (Debt 7.06b / totalStockholderEquity, last quarter 6.27b)
Debt / EBITDA = -0.41 (Net Debt -249.9m / EBITDA 615.8m)
Debt / FCF = 0.22 (negative FCF - burning cash) (Net Debt -249.9m / FCF TTM -1.13b)
Total Stockholder Equity = 6.22b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.50% (Net Income 599.8m / Total Assets 14.26b)
RoE = 9.64% (Net Income TTM 599.8m / Total Stockholder Equity 6.22b)
RoCE = 2.06% (EBIT 288.4m / Capital Employed (Total Assets 14.26b - Current Liab 244.0m))
RoIC = 2.07% (NOPAT 279.5m / Invested Capital 13.52b)
WACC = 4.63% (E(6.09b)/V(13.14b) * Re(8.61%) + D(7.06b)/V(13.14b) * Rd(1.23%) * (1-Tc(0.03)))
Discount Rate = 8.61% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 17.26%
Fair Price DCF = unknown (Cash Flow -1.13b)
EPS Correlation: -29.85 | EPS CAGR: -43.30% | SUE: -4.0 | # QB: 0
Revenue Correlation: 84.36 | Revenue CAGR: 11.25% | SUE: -1.29 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.76 | Chg30d=+0.012 | Revisions Net=+6 | Analysts=12
EPS next Year (2026-12-31): EPS=2.96 | Chg30d=+0.040 | Revisions Net=+3 | Growth EPS=-8.0% | Growth Revenue=-0.7%

Additional Sources for BXSL Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle