Blackstone Secured Lending Fund (BXSL) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 22, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the BXSL SEC filings page.
This page shows Blackstone Secured Lending Fund (BXSL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
The fund expanded through heavier borrowing, while earnings weakened and cash distributions rose in FY2025.
FY2024 paired operating cash flow of-$2.5B with$2.6B of financing cash flow. FY2025 repeated the pattern with operating cash flow of-$458.7M and financing cash flow of$530.6M , indicating that reported cash movements are shaped heavily by funding activity rather than earnings alone.
Total assets increased from
Net income declined from
Financial Health Signals
Blackstone Secured Lending Fund does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Blackstone Secured Lending Fund passes 1 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).
Key Financial Metrics
Earnings & Revenue
Blackstone Secured Lending Fund reported $9.5M in net income in Q2 2026. This represents a decrease of 93.9% from the same quarter a year earlier. Against the prior quarter it is down 62.4%.
Blackstone Secured Lending Fund earned $0.04 per diluted share (EPS) in Q2 2026. This represents a decrease of 94.1% from the same quarter a year earlier. Against the prior quarter it is down 63.6%.
Not reported for Q2 2026.
Not reported for Q2 2026.
Cash & Balance Sheet
Blackstone Secured Lending Fund held $267.2M in cash against $7.5B in long-term debt as of Q2 2026.
Blackstone Secured Lending Fund paid $0.77 per share in dividends in Q2 2026. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.
Not reported for Q2 2026.
Margins & Returns
Blackstone Secured Lending Fund's quarterly ROE was 0.2% in Q2 2026: one quarter's net income over shareholder equity, not annualized. This is down 2.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.3 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
None of these metrics is reported for Q2 2026.
BXSL Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Interest Expense | $101.1M+9.5% | $100.2M+7.7% | N/A | $94.7M+7.4% | $92.3M+17.1% | $93.0M+39.4% | N/A | $88.2M+35.2% |
| Net Income | $9.5M-93.9% | $25.2M-83.1% | N/A | $132.4M-12.7% | $155.0M-21.0% | $149.8M-18.5% | N/A | $151.7M-11.3% |
| EPS (Basic) | $0.04-94.1% | $0.11-83.3% | $0.55-25.7% | $0.57-24.0% | $0.68-32.7% | $0.66-31.2% | $0.74-15.9% | $0.75-25.7% |
| EPS (Diluted) | $0.04-94.1% | $0.11-83.3% | $0.55-25.7% | $0.57-24.0% | $0.68-32.7% | $0.66-31.2% | $0.74-15.9% | $0.75-25.7% |
| Diluted Shares (Avg) | 233M+1.9% | 232M+2.5% | N/A | 230M+13.3% | 228M+17.7% | 227M+18.9% | N/A | 203M+19.8% |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Income Tax.
BXSL Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $13.8B+0.6% | $14.4B+3.3% | $14.7B+8.8% | $14.3B+15.2% | $13.7B+16.5% | $14.0B+30.5% | $13.5B+32.9% | $12.4B+26.2% |
| Cash & Equivalents | $267.2M-2.4% | $351.3M-63.6% | $289.6M+26.1% | $249.9M+28.7% | $273.7M-6.0% | $965.0M+553.5% | $229.6M+48.3% | $194.2M+33.2% |
| Total Liabilities | $7.8B+5.8% | $8.3B+7.9% | $8.4B+13.7% | $8.0B+19.7% | $7.4B+16.4% | $7.7B+39.3% | $7.4B+42.7% | $6.7B+28.3% |
| Long-Term Debt | $7.5B+6.3% | $8.0B+8.8% | $8.1B+14.5% | $7.7B+19.8% | $7.1B+16.5% | $7.4B+40.0% | $7.1B+43.7% | $6.4B+28.8% |
| Total Equity | $5.9B-5.6% | $6.1B-2.3% | $6.2B+2.8% | $6.3B+10.0% | $6.3B+16.6% | $6.2B+21.0% | $6.1B+22.7% | $5.7B+23.9% |
| Retained Earnings | -$126.1M-145.2% | $43.6M-85.5% | $197.2M-39.6% | $233.6M-27.1% | $279.0M-15.3% | $300.9M+5.2% | $326.5M+30.6% | $320.3M+46.5% |
Not reported in any period shown, so not listed: Current Assets, Short-Term Investments, Inventory, Accounts Receivable, Long-Term Investments, Goodwill, Current Liabilities, Non-Current Liabilities.
BXSL Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $561.0Mn/m | $249.3M-41.3% | -$229.7Mn/m | -$432.6Mn/m | -$221.1Mn/m | $424.7Mn/m | -$903.9Mn/m | -$517.7Mn/m |
| Financing Cash Flow | -$643.9Mn/m | -$184.2M-159.4% | $270.3M-71.2% | $422.1M-0.4% | -$471.9M-155.3% | $310.1M-20.1% | $937.1M+515.6% | $423.9M+376.8% |
| Dividends Paid | $170.1M+0.1% | $170.5M+2.9% | $170.8M+9.6% | $171.5M+16.2% | $170.0M+19.4% | $165.6M+20.5% | $155.8M+21.6% | $147.6M+32.8% |
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Share Buybacks.
BXSL Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | 0.2%-2.3pp | 0.4%-2.0pp | N/A | 2.1%-0.5pp | 2.5%-1.2pp | 2.4%-1.2pp | N/A | 2.7%-1.1pp |
| Return on Assets | 0.1%-1.1pp | 0.2%-0.9pp | N/A | 0.9%-0.3pp | 1.1%-0.5pp | 1.1%-0.7pp | N/A | 1.2%-0.5pp |
| Debt-to-Equity | 1.27+0.1x | 1.32+0.1x | 1.29+0.1x | 1.22+0.1x | 1.130.0x | 1.18+0.2x | 1.16+0.2x | 1.120.0x |
| Liabilities-to-Equity | 1.32+0.1x | 1.37+0.1x | 1.35+0.1x | 1.27+0.1x | 1.180.0x | 1.24+0.2x | 1.22+0.2x | 1.170.0x |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Current Ratio, Asset Turnover, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Blackstone Secured Lending Fund BXSL | FY2025 | N/A | $563.5M | N/A | $5.6B | — |
| Blue Owl Capital Corporation OBDC | FY2025 | N/A | $627.4M | N/A | $5.0B | — |
| FS KKR Capital Corp. FSK | FY2025 | N/A | $11.0M | N/A | $2.9B | — |
| Main Street Capital Corporation MAIN | FY2025 | N/A | $493.4M | N/A | $5.1B | — |
| Affiliated Managers Group AMG | FY2025 | $2.1B | $716.6M | 34.5% | $10.2B | 69/100 |
Where Blackstone Secured Lending Fund Ranks
Frequently Asked Questions
Is Blackstone Secured Lending Fund profitable?
Yes, Blackstone Secured Lending Fund (BXSL) reported a net income of $563.5M in fiscal year 2025.
How much debt does Blackstone Secured Lending Fund have?
As of fiscal year 2025, Blackstone Secured Lending Fund (BXSL) had $289.6M in cash and equivalents against $8.1B in long-term debt.
Does Blackstone Secured Lending Fund pay dividends?
Yes, Blackstone Secured Lending Fund (BXSL) paid $3.08 per share in dividends during fiscal year 2025.
What is Blackstone Secured Lending Fund's return on equity (ROE)?
Blackstone Secured Lending Fund (BXSL) has a return on equity of 9.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Blackstone Secured Lending Fund's operating cash flow?
Blackstone Secured Lending Fund (BXSL) recorded an outflow of $458.7M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Blackstone Secured Lending Fund's total assets?
Blackstone Secured Lending Fund (BXSL) had $14.7B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Blackstone Secured Lending Fund's debt-to-equity ratio?
Blackstone Secured Lending Fund (BXSL) had a debt-to-equity ratio of 1.29 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
What is Blackstone Secured Lending Fund's liabilities-to-equity ratio?
Blackstone Secured Lending Fund (BXSL) had a liabilities-to-equity ratio of 1.35 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
What is Blackstone Secured Lending Fund's return on assets (ROA)?
Blackstone Secured Lending Fund (BXSL) had a return on assets of 3.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Blackstone Secured Lending Fund's P/E ratio?
Blackstone Secured Lending Fund (BXSL) trades at 9.9x earnings, its market capitalization divided by $563.5M net income, FY2025. The market capitalization is $5.6B as of Oct 22, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Blackstone Secured Lending Fund's price-to-sales ratio?
Blackstone Secured Lending Fund (BXSL) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $5.6B as of Oct 22, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Blackstone Secured Lending Fund's Piotroski F-Score?
Blackstone Secured Lending Fund (BXSL) has a Piotroski F-Score of 1 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.