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BLACKSTONE SECURED LENDING F (BXSL) Stock Fundamental Analysis

NYSE:BXSL - New York Stock Exchange, Inc. - US09261X1028 - Common Stock - Currency: USD

32.44  -0.11 (-0.34%)

After market: 32.5999 +0.16 (+0.49%)

Fundamental Rating

5

Taking everything into account, BXSL scores 5 out of 10 in our fundamental rating. BXSL was compared to 235 industry peers in the Capital Markets industry. BXSL has a medium profitability rating, but doesn't score so well on its financial health evaluation. BXSL has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

In the past year BXSL was profitable.
BXSL had a negative operating cash flow in the past year.
In the past 5 years BXSL has always been profitable.
In multiple years BXSL reported negative operating cash flow during the last 5 years.
BXSL Yearly Net Income VS EBIT VS OCF VS FCFBXSL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2018 2019 2020 2021 2022 2023 2024 0 -1B -2B -3B

1.2 Ratios

BXSL has a better Return On Assets (4.73%) than 68.09% of its industry peers.
Looking at the Return On Equity, with a value of 10.58%, BXSL is in the better half of the industry, outperforming 62.55% of the companies in the same industry.
BXSL has a Return On Invested Capital of 4.33%. This is comparable to the rest of the industry: BXSL outperforms 54.47% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for BXSL is below the industry average of 7.84%.
Industry RankSector Rank
ROA 4.73%
ROE 10.58%
ROIC 4.33%
ROA(3y)5.09%
ROA(5y)4.69%
ROE(3y)11.17%
ROE(5y)10.11%
ROIC(3y)4.56%
ROIC(5y)3.95%
BXSL Yearly ROA, ROE, ROICBXSL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2018 2019 2020 2021 2022 2023 2024 0 2 4 6 8 10

1.3 Margins

BXSL has a better Profit Margin (47.81%) than 91.06% of its industry peers.
In the last couple of years the Profit Margin of BXSL has declined.
Looking at the Operating Margin, with a value of 54.02%, BXSL belongs to the top of the industry, outperforming 90.21% of the companies in the same industry.
BXSL's Operating Margin has improved in the last couple of years.
Looking at the Gross Margin, with a value of 54.82%, BXSL is in the better half of the industry, outperforming 65.11% of the companies in the same industry.
In the last couple of years the Gross Margin of BXSL has remained more or less at the same level.
Industry RankSector Rank
OM 54.02%
PM (TTM) 47.81%
GM 54.82%
OM growth 3Y-1.35%
OM growth 5Y1.63%
PM growth 3Y-10.8%
PM growth 5Y-6.13%
GM growth 3Y-3.2%
GM growth 5Y-0.94%
BXSL Yearly Profit, Operating, Gross MarginsBXSL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2018 2019 2020 2021 2022 2023 2024 0 50 -50

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3

2. Health

2.1 Basic Checks

The number of shares outstanding for BXSL has been increased compared to 1 year ago.
The number of shares outstanding for BXSL has been increased compared to 5 years ago.
The debt/assets ratio for BXSL is higher compared to a year ago.
BXSL Yearly Shares OutstandingBXSL Yearly Shares OutstandingYearly Shares Outstanding 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M
BXSL Yearly Total Debt VS Total AssetsBXSL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B 10B

2.2 Solvency

Based on the Altman-Z score of 0.94, we must say that BXSL is in the distress zone and has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 0.94, BXSL is in line with its industry, outperforming 49.79% of the companies in the same industry.
BXSL has a Debt/Equity ratio of 1.18. This is a high value indicating a heavy dependency on external financing.
Looking at the Debt to Equity ratio, with a value of 1.18, BXSL is in line with its industry, outperforming 40.43% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.18
Debt/FCF N/A
Altman-Z 0.94
ROIC/WACCN/A
WACCN/A
BXSL Yearly LT Debt VS Equity VS FCFBXSL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2018 2019 2020 2021 2022 2023 2024 0 2B -2B 4B 6B

2.3 Liquidity

A Current Ratio of 2.85 indicates that BXSL has no problem at all paying its short term obligations.
BXSL has a better Current ratio (2.85) than 79.15% of its industry peers.
BXSL has a Quick Ratio of 2.85. This indicates that BXSL is financially healthy and has no problem in meeting its short term obligations.
BXSL has a Quick ratio of 2.85. This is in the better half of the industry: BXSL outperforms 79.15% of its industry peers.
Industry RankSector Rank
Current Ratio 2.85
Quick Ratio 2.85
BXSL Yearly Current Assets VS Current LiabilitesBXSL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M

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5

3. Growth

3.1 Past

The earnings per share for BXSL have decreased by -9.51% in the last year.
The Earnings Per Share has been growing by 40.04% on average over the past years. This is a very strong growth
Looking at the last year, BXSL shows a quite strong growth in Revenue. The Revenue has grown by 16.75% in the last year.
The Revenue has been growing by 55.07% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)-9.51%
EPS 3Y7.56%
EPS 5Y40.04%
EPS Q2Q%-4.14%
Revenue 1Y (TTM)16.75%
Revenue growth 3Y28.55%
Revenue growth 5Y55.07%
Sales Q2Q%17.78%

3.2 Future

BXSL is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -9.16% yearly.
Based on estimates for the next years, BXSL will show a small growth in Revenue. The Revenue will grow by 6.69% on average per year.
EPS Next Y-7.07%
EPS Next 2Y-6.09%
EPS Next 3Y-9.16%
EPS Next 5YN/A
Revenue Next Year8.18%
Revenue Next 2Y5.93%
Revenue Next 3Y6.69%
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
BXSL Yearly Revenue VS EstimatesBXSL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 500M 1B 1.5B
BXSL Yearly EPS VS EstimatesBXSL Yearly EPS VS EstimatesYearly EPS VS Estimates 2021 2022 2023 2024 2025 2026 2027 1 2 3

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4

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 9.32, which indicates a very decent valuation of BXSL.
BXSL's Price/Earnings ratio is a bit cheaper when compared to the industry. BXSL is cheaper than 79.57% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 27.35. BXSL is valued rather cheaply when compared to this.
BXSL is valuated reasonably with a Price/Forward Earnings ratio of 10.48.
71.49% of the companies in the same industry are more expensive than BXSL, based on the Price/Forward Earnings ratio.
BXSL is valuated cheaply when we compare the Price/Forward Earnings ratio to 37.54, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 9.32
Fwd PE 10.48
BXSL Price Earnings VS Forward Price EarningsBXSL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
BXSL Per share dataBXSL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20

4.3 Compensation for Growth

The decent profitability rating of BXSL may justify a higher PE ratio.
A cheap valuation may be justified as BXSL's earnings are expected to decrease with -9.16% in the coming years.
PEG (NY)N/A
PEG (5Y)0.23
EPS Next 2Y-6.09%
EPS Next 3Y-9.16%

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5

5. Dividend

5.1 Amount

BXSL has a Yearly Dividend Yield of 9.49%, which is a nice return.
Compared to an average industry Dividend Yield of 8.05, BXSL pays a bit more dividend than its industry peers.
BXSL's Dividend Yield is rather good when compared to the S&P500 average which is at 2.36.
Industry RankSector Rank
Dividend Yield 9.49%

5.2 History

BXSL has been paying a dividend for over 5 years, so it has already some track record.
BXSL has not decreased its dividend in the last 3 years.
Dividend Growth(5Y)N/A
Div Incr Years3
Div Non Decr Years3
BXSL Yearly Dividends per shareBXSL Yearly Dividends per shareYearly Dividends per share 2021 2022 2023 2024 2025 1 2 3

5.3 Sustainability

92.64% of the earnings are spent on dividend by BXSL. This is not a sustainable payout ratio.
DP92.64%
EPS Next 2Y-6.09%
EPS Next 3Y-9.16%
BXSL Yearly Income VS Free CF VS DividendBXSL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2018 2019 2020 2021 2022 2023 2024 0 -1B -2B -3B
BXSL Dividend Payout.BXSL Dividend Payout, showing the Payout Ratio.BXSL Dividend Payout.PayoutRetained Earnings

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BLACKSTONE SECURED LENDING F

NYSE:BXSL (7/24/2025, 8:26:04 PM)

After market: 32.5999 +0.16 (+0.49%)

32.44

-0.11 (-0.34%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)05-07 2025-05-07/bmo
Earnings (Next)08-06 2025-08-06/bmo
Inst Owners40.39%
Inst Owner Change0.36%
Ins Owners3.3%
Ins Owner Change0.68%
Market Cap7.45B
Analysts81.33
Price Target32.71 (0.83%)
Short Float %1.86%
Short Ratio4.46
Dividend
Industry RankSector Rank
Dividend Yield 9.49%
Yearly Dividend2.86
Dividend Growth(5Y)N/A
DP92.64%
Div Incr Years3
Div Non Decr Years3
Ex-Date06-30 2025-06-30 (0.77)
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-1.83%
Min EPS beat(2)-3.37%
Max EPS beat(2)-0.29%
EPS beat(4)0
Avg EPS beat(4)-1.8%
Min EPS beat(4)-3.37%
Max EPS beat(4)-0.26%
EPS beat(8)2
Avg EPS beat(8)-1.56%
EPS beat(12)5
Avg EPS beat(12)0.21%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-3.5%
Min Revenue beat(2)-5.17%
Max Revenue beat(2)-1.83%
Revenue beat(4)1
Avg Revenue beat(4)-1.62%
Min Revenue beat(4)-5.17%
Max Revenue beat(4)1.19%
Revenue beat(8)3
Avg Revenue beat(8)0%
Revenue beat(12)4
Avg Revenue beat(12)0.33%
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)-3.44%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-2.73%
EPS NY rev (1m)0%
EPS NY rev (3m)-1.23%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-3.28%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-3.07%
Valuation
Industry RankSector Rank
PE 9.32
Fwd PE 10.48
P/S 5.4
P/FCF N/A
P/OCF N/A
P/B 1.19
P/tB 1.19
EV/EBITDA N/A
EPS(TTM)3.48
EY10.73%
EPS(NY)3.1
Fwd EY9.54%
FCF(TTM)-7.43
FCFYN/A
OCF(TTM)-7.43
OCFYN/A
SpS6.01
BVpS27.17
TBVpS27.17
PEG (NY)N/A
PEG (5Y)0.23
Profitability
Industry RankSector Rank
ROA 4.73%
ROE 10.58%
ROCE 5.47%
ROIC 4.33%
ROICexc 4.65%
ROICexgc 4.66%
OM 54.02%
PM (TTM) 47.81%
GM 54.82%
FCFM N/A
ROA(3y)5.09%
ROA(5y)4.69%
ROE(3y)11.17%
ROE(5y)10.11%
ROIC(3y)4.56%
ROIC(5y)3.95%
ROICexc(3y)4.63%
ROICexc(5y)4.03%
ROICexgc(3y)4.63%
ROICexgc(5y)4.03%
ROCE(3y)5.77%
ROCE(5y)5.01%
ROICexcg growth 3Y15.89%
ROICexcg growth 5Y18.19%
ROICexc growth 3Y15.87%
ROICexc growth 5Y18.19%
OM growth 3Y-1.35%
OM growth 5Y1.63%
PM growth 3Y-10.8%
PM growth 5Y-6.13%
GM growth 3Y-3.2%
GM growth 5Y-0.94%
F-Score2
Asset Turnover0.1
Health
Industry RankSector Rank
Debt/Equity 1.18
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 2.32
Cash Conversion N/A
Profit Quality N/A
Current Ratio 2.85
Quick Ratio 2.85
Altman-Z 0.94
F-Score2
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-9.51%
EPS 3Y7.56%
EPS 5Y40.04%
EPS Q2Q%-4.14%
EPS Next Y-7.07%
EPS Next 2Y-6.09%
EPS Next 3Y-9.16%
EPS Next 5YN/A
Revenue 1Y (TTM)16.75%
Revenue growth 3Y28.55%
Revenue growth 5Y55.07%
Sales Q2Q%17.78%
Revenue Next Year8.18%
Revenue Next 2Y5.93%
Revenue Next 3Y6.69%
Revenue Next 5YN/A
EBIT growth 1Y8.39%
EBIT growth 3Y26.81%
EBIT growth 5Y57.59%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-301.19%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-301.19%
OCF growth 3YN/A
OCF growth 5YN/A