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Page: Company Financials

Blackstone Secured Lending Fund

Ticker: BXSL | Industry: Asset Management | Sector: Financial Services
$26.11 -0.49 (-1.84%)
As of: 2026-01-23

Master Data Export

Enterprise Value

Metric MRQ MRQ-1 2025 2024 2023 2022 2021 2020 2019
Stock Price 26.07 30.75 29.73 30.73 26.82 24.15 29.22 27.63 27.63
Market Capitalization 6,008.16M 7,016.91M 6,785.71M 6,191.94M 4,422.06M 4,017.35M 3,913.36M 2,662.53M 2,319.76M
(-) Cash & Equivalents 249.89M 186.61M 444.60M 215.68M 137.76M 143.01M 208.97M 118.80M 65.60M
(+) Total Debt 0.00M 7,090.55M 4,824.56M 6,200.89M 5,076.04M 5,616.51M 4,165.80M 2,084.51M 791.72M
Enterprise Value 5,758.27M 13,920.85M 11,165.66M 12,177.15M 9,360.34M 9,490.86M 7,870.19M 4,628.24M 3,045.88M

Income Statement

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Revenue 1,003M 1,015M 1,048M 875M 584M 587M 238M 117M -2M
Cost of Revenue 356M 285M 316M 256M 197M 115M 66M 35M 1M
Gross Profit 647M 730M 731M 619M 387M 472M 172M 81M -4M
Gross Profit Margin 64.5% 71.9% 69.8% 70.7% 66.2% 80.4% 72.3% 69.7% 158.7%
R&D Expenses 0M 0M 0M 0M 0M 0M 0M 0M 0M
SG&A Expenses 14M 12M 12M 15M 14M 11M 10M 7M 1M
Operating Expenses 31M 26M 23M -10M -19M 10M -70M 6M -3M
Operating Income (EBIT) 616M 704M 709M 629M 406M 463M 243M 75M 0M
Operating Income Margin 61.4% 69.3% 67.6% 71.9% 69.5% 78.8% 101.7% 64.3% 12.7%
Interest Income 1,409M 1,276M 1,323M 1,136M 837M 619M 0M 0M 0M
Interest Expense 356M 285M 316M 256M 197M 115M 66M 35M 1M
Net Interest Income 1,052M 991M 1,007M 880M 639M 504M -66M -35M -1M
Unusual Items -1,052M -991M -1,007M -880M -639M -504M 43M 67M -2M
EBT Excluding Unusual Items 1,668M 1,695M 1,715M 1,509M 1,045M 967M 177M 40M -1M
Pre-Tax Income 616M 704M 709M 629M 406M 463M 219M 107M -3M
Pre-Tax Margin 61.4% 69.3% 67.6% 71.9% 69.5% 78.8% 91.9% 91.3% 125.7%
Income Tax Expense 16M 15M 15M 17M 1M 2M 1M 0M 0M
Net Income 600M 689M 694M 612M 405M 460M 219M 106M -3M
Net Income Margin 59.8% 67.9% 66.3% 70.0% 69.3% 78.4% 91.7% 90.9% 127.9%
Depreciation & Amortization 0M 0M 0M 0M 0M 0M 0M 0M 0M
EBITDA 616M 704M 709M 629M 406M 463M 243M 75M 0M
EBITDA Margin 61.4% 69.3% 67.6% 71.9% 69.5% 78.8% 101.7% 64.3% 12.7%
NOPAT 600M 689M 694M 612M 405M 460M 242M 75M 0M
NOPAT Margin 59.8% 67.9% 66.3% 70.0% 69.3% 78.4% 101.5% 64.0% 10.0%
Owner's Earnings 600M 689M 694M 612M 405M 460M 219M 106M -3M
Owner's Earnings Margin 59.8% 67.9% 66.3% 70.0% 69.3% 78.4% 91.7% 90.9% 127.9%
EPS (Basic) 2.66 3.60 3.45 3.65 2.44 3.19 2.29 3.14 -0.03
EPS (Diluted) 2.66 3.65 3.45 3.65 2.44 3.19 2.29 3.14 -0.03
Shares (Basic) 226M 189M 201M 168M 166M 145M 95M 34M 95M
Shares (Diluted) 226M 189M 201M 168M 166M 145M 95M 34M 95M

Balance Sheet

Metric MRQ MRQ-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Cash & Cash Equivalents 249.89M 186.61M 229.61M 154.86M 131.27M 102.88M 217.99M 65.50M 6.23M
Short-Term Investments 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Cash & Short-Term Investments 249.89M 186.61M 229.61M 154.86M 131.27M 102.88M 217.99M 65.50M 6.23M
Net Receivables 105.21M 144.59M 124.24M 94.87M 147.14M 205.54M 139.42M 25.66M 19.96M
Inventory 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Current Assets 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Total Current Assets 355.10M 331.20M 353.85M 249.73M 278.42M 308.42M 357.41M 91.15M 26.19M
Property, Plant & Equipment 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Goodwill 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Intangible Assets 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Long-Term Investments 0.00M 20.35M 4.00M 9,868.44M 9,617.25M 9,855.38M 5,585.94M 3,092.44M 545.33M
Tax Assets 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Non-Current Assets 0.00M 13,359.41M 13,114.38M -9,868.44M -9,617.25M -9,855.38M 7.51M 6.51M 3.23M
Other Assets 13,901.19M 0.00M 0.00M 0.00M 13.33M 13.75M 0.00M 0.00M 0.00M
Total Non-Current Assets 13,901.19M 13,379.76M 13,118.38M 0.00M 13.33M 13.75M 5,593.45M 3,098.95M 548.56M
Total Assets 14,256.29M 13,710.96M 13,472.22M 249.73M 291.75M 322.16M 5,950.87M 3,190.11M 574.74M
Accounts Payable 0.00M 244.52M 243.99M 8.57M 20.27M 36.22M 149.94M 43.41M 147.44M
Short-Term Debt 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 1,314.56M 0.00M 185.00M
Tax Payables 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Deferred Revenue 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Current Liabilities 0.00M 0.00M 0.00M 0.00M -20.27M 195.21M 32.73M 1,473.58M 5.71M
Total Current Liabilities 0.00M 244.52M 243.99M 8.57M 0.00M 231.43M 1,497.23M 1,516.99M 338.16M
Long-Term Debt 0.00M 7,090.55M 7,056.09M 4,911.93M 5,527.72M 5,498.63M 1,185.83M 1,454.21M 0.00M
Capital Lease Obligations 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Deferred Tax Liabilities 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Non-Current Liabilities 0.00M 87.59M 95.63M 0.00M -5,365.94M 0.00M 0.00M -56.98M 0.00M
Total Non-Current Liabilities 0.00M 7,178.14M 7,151.72M 4,911.93M 161.78M 5,498.63M 1,185.83M 1,397.24M 0.00M
Total Liabilities 0.00M 7,422.66M 7,395.70M 4,920.50M 161.78M 5,730.06M 2,683.06M 2,914.23M 338.16M
Preferred Stock 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock 0.23M 0.23M 0.22M 0.19M 0.16M 0.17M 0.13M 0.06M 0.01M
Retained Earnings 0.00M 278.96M 326.54M 250.03M 125.69M 202.19M 35.12M 37.14M -2.89M
Accumulated OCI 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Minority Interest 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Total Shareholders’ Equity 0.23M 279.19M 326.76M 250.21M 125.85M 202.35M 35.25M 37.20M -2.88M
Total Equity 0.23M 279.19M 326.76M 250.21M 125.85M 202.35M 35.25M 37.20M -2.88M
Total Liabilities & Equity 0.23M 7,701.85M 7,722.46M 5,170.71M 287.63M 5,932.42M 2,718.30M 2,951.43M 335.27M
Tangible Assets 14,256.29M 13,710.96M 13,472.22M 249.73M 291.75M 322.16M 5,950.87M 3,190.11M 574.74M
Tangible Equity 0.23M 279.19M 326.76M 250.21M 125.85M 202.35M 35.25M 37.20M -2.88M
Tangible Book Value 0.23M 279.19M 326.76M 250.21M 125.85M 202.35M 35.25M 37.20M -2.88M
Total Investments 13,809.64M 20.35M 4.00M 9,868.44M 9,617.25M 9,855.38M 5,585.94M 3,092.44M 545.33M
Net Debt -249.89M 6,903.94M 6,826.49M 4,757.07M 5,396.44M 5,395.75M 2,282.40M 1,388.72M 178.77M

Capital Metrics

Metric MRQ MRQ-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Working Capital 355.1M 86.7M 109.9M 241.2M -145.1M 77.0M -1,139.8M -1,425.8M -312.0M
Total Capital 6,269.6M 13,378.8M 13,132.6M 9,864.0M 9,686.7M 9,946.1M 5,768.2M 3,127.3M 421.4M
Capital Employed 14,256.3M 13,466.4M 13,228.2M 10,126.1M 9,485.5M 9,946.1M 4,453.6M 1,673.1M 236.6M
Invested Capital 6,019.7M 13,192.2M 12,903.0M 9,709.1M 9,555.4M 9,843.2M 5,550.2M 3,061.8M 415.1M

Cash Flow Statement

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
Net Income 599.78M 688.91M 694.10M 611.95M 404.56M 460.42M 218.64M 106.21M -2.94M
Depreciation & Amortization 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Deferred Income Tax 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Stock-Based Compensation 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Change in Working Capital 48.05M -8.78M 12.31M 53.77M 44.58M -24.89M -54.32M -119.80M 100.27M
Accounts Receivable 34.21M -25.97M -24.96M 52.27M 58.39M -69.54M -116.28M 0.24M 10.39M
Inventory 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Accounts Payable 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 11.01M 15.30M 0.31M
Other Working Capital 13.84M 17.18M 37.27M 1.50M -13.82M 44.65M 50.95M -135.34M 89.58M
Other Non-Cash Items -1,780.69M -2,430.50M -3,232.70M -206.91M 223.82M -4,264.04M -2,484.49M -2,544.69M -447.11M
Net Cash from Operating Activities -1,132.86M -1,750.37M -2,526.29M 458.82M 672.95M -3,828.51M -2,320.17M -2,558.29M -349.78M
Capital Expenditures (PPE) 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Acquisitions (Net) 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Purchases of Investments -1,219.70M 0.00M -3,942.74M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Sales / Maturities of Investments 1,163.37M 0.00M 787.52M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Investing Activities 56.33M 0.00M 3,155.22M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Cash from Investing Activities 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Debt Issuance 1,226.88M 1,391.26M 2,165.08M -650.87M 43.68M 2,998.83M 1,044.59M 1,269.22M 120.00M
Long-Term Debt Issuance 1,226.88M 1,391.26M 2,165.08M -650.87M 43.68M 2,998.83M 1,044.59M 1,269.22M 120.00M
Short-Term Debt Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Stock Issuance 650.75M 990.47M 1,037.03M 665.26M 0.00M 981.10M 1,582.51M 1,387.80M 239.31M
Common Stock Issuance 650.75M 990.47M 1,037.03M 665.26M 0.00M 981.10M 1,582.51M 1,387.80M 239.31M
Common Stock Repurchased 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Preferred Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Dividends Paid -663.03M -555.62M -583.35M -437.97M -423.44M -253.78M -145.12M -35.37M 0.00M
Common Dividends Paid -663.03M -555.62M -583.35M -437.97M -423.44M -253.78M -145.12M -35.37M 0.00M
Preferred Dividends Paid 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Financing Activities -17.19M -8.86M -16.65M -8.59M -268.41M -12.76M -9.32M -4.10M -3.30M
Net Cash from Financing Activities 1,197.41M 1,817.25M 2,602.11M -432.16M -648.18M 3,713.40M 2,472.66M 2,617.55M 356.01M
Effect of FX on Cash -8.84M -18.48M -1.06M -3.07M 3.62M 0.00M 0.00M 0.00M 0.00M
Net Change in Cash 55.71M 48.39M 74.75M 23.59M 28.39M -115.11M 152.50M 59.27M 6.23M
Cash at Beginning of Period 1,662.47M 739.59M 154.86M 131.27M 102.88M 217.99M 65.50M 6.23M 0.00M
Cash at End of Period 1,718.18M 787.98M 229.61M 154.86M 131.27M 102.88M 217.99M 65.50M 6.23M
Operating Cash Flow -1,132.86M -1,750.37M -2,526.29M 458.82M 672.95M -3,828.51M -2,320.17M -2,558.29M -349.78M
Capital Expenditure 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Free Cash Flow -1,132.86M -1,750.37M -2,526.29M 458.82M 672.95M -3,828.51M -2,320.17M -2,558.29M -349.78M

Free Cash Flow

Metric TTM TTM-1 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31 2019-12-31 2018-12-31
EBITDA 632.90M 717.93M 719.33M 603.39M 372.78M 461.80M 162.04M 74.04M -4.85M
(-) Tax Adjustment 16.47M 15.20M 14.74M 16.12M 1.27M 2.43M 0.38M 0.32M 0.00M
(-) Change In Working Capital 48.05M -8.78M 12.31M 53.77M 44.58M -24.89M -54.32M -119.80M 100.27M
(-) Capital Expenditure 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Unlevered Free Cash Flow 568.39M 711.51M 692.28M 533.50M 326.93M 484.26M 215.97M 193.52M -105.13M
(-) Net Interest Income After Taxes 1,024.87M 969.87M 986.08M 856.63M 637.20M 501.04M -65.79M -35.28M -0.94M
Net Debt Issuance 1,226.88M 1,391.26M 2,165.08M -650.87M 43.68M 2,998.83M 1,044.59M 1,269.22M 120.00M
Levered Free Cash Flow 770.39M 1,132.91M 1,871.27M -974.00M -266.60M 2,982.05M 1,326.36M 1,498.02M 15.81M