Sixth Street Specialty Lending, Inc. (TSLX) 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 Sep 12, 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 4, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the TSLX SEC filings page.
This page shows Sixth Street Specialty Lending, Inc. (TSLX) 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).
Leverage-based lending is the dominant mechanic, with cash generation and financing activity moving independently of reported earnings.
After operating cash flow was negative in FY2022 through FY2024, FY2025 produced cash generation of$401.6M against net income of$170.5M . Because financing used$409.2M , including$170.3M of dividends, the cash inflow was largely absorbed by capital movements rather than translating into a larger asset base.
From FY2024 to FY2025, liabilities fell by
ROE and ROA both declined in FY2025, to
Financial Health Signals
Sixth Street Specialty Lending, Inc. 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.
Sixth Street Specialty Lending, Inc. passes 4 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.
For every $1 of reported earnings, Sixth Street Specialty Lending, Inc. generates $2.36 in operating cash flow ($401.6M OCF vs $170.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Sixth Street Specialty Lending, Inc. reported $40.5M in net income in Q2 2026. This represents a decrease of 31.3% from the same quarter a year earlier. Against the prior quarter it is up 255.7%.
Sixth Street Specialty Lending, Inc. earned $0.43 per diluted share (EPS) in Q2 2026. This represents a decrease of 31.7% from the same quarter a year earlier. Against the prior quarter it is up 259.3%.
Not reported for Q2 2026.
Not reported for Q2 2026.
Cash & Balance Sheet
Sixth Street Specialty Lending, Inc. held $193.6M in cash against $1.9B in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Sixth Street Specialty Lending, Inc.'s ROE was 2.6% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 1.0 percentage points from the same quarter a year earlier. Against the prior quarter it is up 4.3 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.
TSLX 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-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Interest Expense | $24.5M-5.7% | $23.4M-12.6% | N/A | $23.4M-5.6% | $26.0M-33.7% | $26.8M-31.4% | N/A | $24.8M-29.3% |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $698K+51.4% |
| Net Income | $40.5M-31.3% | -$26.0M-170.4% | $30.0M-41.2% | $44.6M+9.7% | $59.0M+24.5% | $37.0M-22.2% | $51.0M-0.3% | $40.7M-37.3% |
| EPS (Basic) | $0.43-31.7% | -$0.27-169.2% | $0.31-43.6% | $0.47+6.8% | $0.63+23.5% | $0.39-26.4% | $0.55-5.2% | $0.44-40.5% |
| EPS (Diluted) | $0.43-31.7% | -$0.27-169.2% | $0.31-43.6% | $0.47+6.8% | $0.63+23.5% | $0.39-26.4% | $0.55-5.2% | $0.44-40.5% |
| Diluted Shares (Avg) | 95M+1.1% | 95M+1.1% | N/A | 94M+1.3% | 94M+1.3% | 94M+5.2% | N/A | 93M+6.6% |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA.
TSLX 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-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.5B+3.7% | $3.4B-3.0% | $3.4B-4.5% | $3.5B-0.6% | $3.4B+0.9% | $3.5B+1.3% | $3.6B+7.1% | $3.5B+11.2% |
| Cash & Equivalents | $193.6M+394.2% | $29.2M-38.3% | $19.7M-28.1% | $83.2M+179.7% | $39.2M+13.0% | $47.3M+31.7% | $27.3M+8.5% | $29.7M-0.5% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $2.0B+10.9% | $1.9B-2.5% | $1.8B-8.1% | $1.9B-2.2% | $1.8B+0.6% | $1.9B+1.5% | $2.0B+6.9% | $1.9B+14.5% |
| Long-Term Debt | $1.9B+11.5% | $1.8B-2.2% | $1.7B-8.3% | $1.8B-1.9% | $1.7B+0.8% | $1.8B+2.2% | $1.9B+6.8% | $1.9B+15.2% |
| Total Equity | $1.5B-4.3% | $1.5B-3.7% | $1.6B0.0% | $1.6B+1.4% | $1.6B+1.2% | $1.6B+1.2% | $1.6B+7.4% | $1.6B+7.5% |
| Retained Earnings | $11.7M-87.7% | $11.1M-86.9% | $81.6M-16.4% | $91.7M+1.3% | $95.2M-3.1% | $85.0M-14.1% | $97.7M-3.0% | $90.5M-3.9% |
Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities, Non-Current Liabilities.
TSLX 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-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $68.3M-64.6% | -$23.4M-115.6% | $74.1M+341.1% | -$15.6M+79.0% | $193.2M+54.2% | $149.9M+328.8% | -$30.7M+64.6% | -$74.5M-303.2% |
| Financing Cash Flow | $96.0M+147.7% | $32.9M+125.3% | -$137.6M-585.7% | $59.6M-14.3% | -$201.3M-59.1% | -$130.0M-270.5% | $28.3M-65.5% | $69.6M+313.2% |
| Dividends Paid | $34.1M-30.2% | $39.0M-9.7% | $41.9M+3.2% | $42.5M-12.1% | $48.9M+1.3% | $43.2M-0.3% | $40.6M+0.1% | $48.4M+6.6% |
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Share Buybacks.
TSLX 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-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | 2.6%-1.0pp | -1.7%-4.0pp | 1.9%-1.3pp | 2.8%+0.2pp | 3.6%+0.7pp | 2.3%-0.7pp | 3.2%-0.3pp | 2.5%-1.8pp |
| Return on Assets | 1.1%-0.6pp | -0.8%-1.8pp | 0.9%-0.5pp | 1.3%+0.1pp | 1.7%+0.3pp | 1.1%-0.3pp | 1.4%-0.1pp | 1.1%-0.9pp |
| Debt-to-Equity | 1.24+0.2x | 1.170.0x | 1.08-0.1x | 1.130.0x | 1.070.0x | 1.150.0x | 1.180.0x | 1.17+0.1x |
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 |
|---|---|---|---|---|---|---|
| Sixth Street Specialty Lending, Inc. TSLX | FY2025 | N/A | $170.5M | N/A | $1.7B | — |
| GCM Grosvenor Inc. GCMG | FY2025 | $557.6M | $45.4M | 8.1% | $784.9M | 46/100 |
| Brookfield Business Corporation BBUC | FY2025 | $27.5B | $387.0M | 1.4% | $5.4B | 23/100 |
| Patria Investments Limited PAX | FY2025 | $381.7M | $90.5M | 23.7% | $1.7B | 44/100 |
Where Sixth Street Specialty Lending, Inc. Ranks
Frequently Asked Questions
Is Sixth Street Specialty Lending, Inc. profitable?
Yes, Sixth Street Specialty Lending, Inc. (TSLX) reported a net income of $170.5M in fiscal year 2025.
How much debt does Sixth Street Specialty Lending, Inc. have?
As of fiscal year 2025, Sixth Street Specialty Lending, Inc. (TSLX) had $19.7M in cash and equivalents against $1.7B in long-term debt.
What is Sixth Street Specialty Lending, Inc.'s return on equity (ROE)?
Sixth Street Specialty Lending, Inc. (TSLX) has a return on equity of 10.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Sixth Street Specialty Lending, Inc.'s operating cash flow?
Sixth Street Specialty Lending, Inc. (TSLX) generated $401.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Sixth Street Specialty Lending, Inc.'s total assets?
Sixth Street Specialty Lending, Inc. (TSLX) had $3.4B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Sixth Street Specialty Lending, Inc.'s debt-to-equity ratio?
Sixth Street Specialty Lending, Inc. (TSLX) had a debt-to-equity ratio of 1.08 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Sixth Street Specialty Lending, Inc.'s return on assets (ROA)?
Sixth Street Specialty Lending, Inc. (TSLX) had a return on assets of 5.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Sixth Street Specialty Lending, Inc.'s P/E ratio?
Sixth Street Specialty Lending, Inc. (TSLX) trades at 19.2x earnings, its market capitalization divided by net income of $89.0M net income, trailing 12 months to June 30, 2026. The market capitalization is $1.7B as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Sixth Street Specialty Lending, Inc.'s price-to-sales ratio?
Sixth Street Specialty Lending, Inc. (TSLX) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $1.7B as of Sep 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Sixth Street Specialty Lending, Inc.'s Piotroski F-Score?
Sixth Street Specialty Lending, Inc. (TSLX) has a Piotroski F-Score of 4 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.
Are Sixth Street Specialty Lending, Inc.'s earnings high quality?
Sixth Street Specialty Lending, Inc. (TSLX) has an earnings quality ratio of 2.36x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.