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BLACKSTONE SECURED LENDING F (BXSL) Stock Fundamental Analysis

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

31.16  -0.81 (-2.53%)

After market: 31.015 -0.14 (-0.47%)

Fundamental Rating

4

Taking everything into account, BXSL scores 4 out of 10 in our fundamental rating. BXSL was compared to 230 industry peers in the Capital Markets industry. There are concerns on the financial health of BXSL while its profitability can be described as average. BXSL has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

BXSL had positive earnings in the past year.
In the past year BXSL has reported a negative cash flow from operations.
In the past 5 years BXSL has always been profitable.
The reported operating cash flow has been mixed in the past 5 years: BXSL reported negative operating cash flow in multiple 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 Return On Assets of 5.15%. This is in the better half of the industry: BXSL outperforms 69.13% of its industry peers.
The Return On Equity of BXSL (11.42%) is better than 63.48% of its industry peers.
BXSL has a Return On Invested Capital (4.34%) which is comparable to the rest of the industry.
Measured over the past 3 years, the Average Return On Invested Capital for BXSL is below the industry average of 7.27%.
Industry RankSector Rank
ROA 5.15%
ROE 11.42%
ROIC 4.34%
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

With an excellent Profit Margin value of 52.31%, BXSL belongs to the best of the industry, outperforming 90.00% of the companies in the same industry.
BXSL's Profit Margin has declined in the last couple of years.
Looking at the Operating Margin, with a value of 54.42%, BXSL belongs to the top of the industry, outperforming 93.48% of the companies in the same industry.
In the last couple of years the Operating Margin of BXSL has grown nicely.
With a decent Gross Margin value of 55.24%, BXSL is doing good in the industry, outperforming 64.78% of the companies in the same industry.
BXSL's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 54.42%
PM (TTM) 52.31%
GM 55.24%
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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0

2. Health

2.1 Basic Checks

Compared to 1 year ago, BXSL has more shares outstanding
Compared to 5 years ago, BXSL has more shares outstanding
Compared to 1 year ago, BXSL has a worse debt to assets ratio.
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

BXSL has an Altman-Z score of 0.89. This is a bad value and indicates that BXSL is not financially healthy and even has some risk of bankruptcy.
BXSL has a Altman-Z score (0.89) which is in line with its industry peers.
A Debt/Equity ratio of 1.16 is on the high side and indicates that BXSL has dependencies on debt financing.
Looking at the Debt to Equity ratio, with a value of 1.16, BXSL is in line with its industry, outperforming 43.48% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.16
Debt/FCF N/A
Altman-Z 0.89
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 0.71 indicates that BXSL may have some problems paying its short term obligations.
BXSL has a worse Current ratio (0.71) than 68.26% of its industry peers.
BXSL has a Quick Ratio of 0.71. This is a bad value and indicates that BXSL is not financially healthy enough and could expect problems in meeting its short term obligations.
BXSL has a Quick ratio of 0.71. This is in the lower half of the industry: BXSL underperforms 68.26% of its industry peers.
Industry RankSector Rank
Current Ratio 0.71
Quick Ratio 0.71
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

BXSL shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -9.51%.
Measured over the past years, BXSL shows a very strong growth in Earnings Per Share. The EPS has been growing by 40.04% on average per year.
Looking at the last year, BXSL shows a quite strong growth in Revenue. The Revenue has grown by 16.04% in the last year.
BXSL shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 55.07% yearly.
EPS 1Y (TTM)-9.51%
EPS 3Y7.56%
EPS 5Y40.04%
EPS Q2Q%-4.14%
Revenue 1Y (TTM)16.04%
Revenue growth 3Y28.55%
Revenue growth 5Y55.07%
Sales Q2Q%17.78%

3.2 Future

The Earnings Per Share is expected to decrease by -9.16% on average over the next years.
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-6.87%
EPS Next 2Y-5.73%
EPS Next 3Y-9.16%
EPS Next 5YN/A
Revenue Next Year8.41%
Revenue Next 2Y7.46%
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.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
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

BXSL is valuated reasonably with a Price/Earnings ratio of 8.95.
Based on the Price/Earnings ratio, BXSL is valued a bit cheaper than 77.39% of the companies in the same industry.
BXSL's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 26.03.
A Price/Forward Earnings ratio of 9.99 indicates a reasonable valuation of BXSL.
69.57% of the companies in the same industry are more expensive than BXSL, based on the Price/Forward Earnings ratio.
BXSL's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 21.94.
Industry RankSector Rank
PE 8.95
Fwd PE 9.99
BXSL Price Earnings VS Forward Price EarningsBXSL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

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 -10 20

4.3 Compensation for Growth

BXSL has a very decent profitability rating, which 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)0.22
EPS Next 2Y-5.73%
EPS Next 3Y-9.16%

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5

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 9.83%, BXSL is a good candidate for dividend investing.
BXSL's Dividend Yield is a higher than the industry average which is at 8.20.
Compared to an average S&P500 Dividend Yield of 2.36, BXSL pays a better dividend.
Industry RankSector Rank
Dividend Yield 9.83%

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

84.04% of the earnings are spent on dividend by BXSL. This is not a sustainable payout ratio.
DP84.04%
EPS Next 2Y-5.73%
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 (5/21/2025, 8:04:01 PM)

After market: 31.015 -0.14 (-0.47%)

31.16

-0.81 (-2.53%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)05-07 2025-05-07/bmo
Earnings (Next)08-05 2025-08-05/bmo
Inst Owners40.03%
Inst Owner Change-9.17%
Ins Owners1.57%
Ins Owner Change0.68%
Market Cap7.10B
Analysts81.33
Price Target33.44 (7.32%)
Short Float %2.02%
Short Ratio2.92
Dividend
Industry RankSector Rank
Dividend Yield 9.83%
Yearly Dividend2.86
Dividend Growth(5Y)N/A
DP84.04%
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)-1.81%
Min EPS beat(2)-3.37%
Max EPS beat(2)-0.26%
EPS beat(4)0
Avg EPS beat(4)-3.59%
Min EPS beat(4)-7.43%
Max EPS beat(4)-0.26%
EPS beat(8)2
Avg EPS beat(8)-1.67%
EPS beat(12)5
Avg EPS beat(12)0%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-2.91%
Min Revenue beat(2)-5.17%
Max Revenue beat(2)-0.65%
Revenue beat(4)1
Avg Revenue beat(4)-2.05%
Min Revenue beat(4)-5.17%
Max Revenue beat(4)1.19%
Revenue beat(8)3
Avg Revenue beat(8)0.17%
Revenue beat(12)5
Avg Revenue beat(12)0.52%
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-1.29%
PT rev (3m)2.16%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-0.76%
EPS NY rev (1m)-1.03%
EPS NY rev (3m)-1.33%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)3.84%
Revenue NY rev (1m)-2.87%
Revenue NY rev (3m)3.55%
Valuation
Industry RankSector Rank
PE 8.95
Fwd PE 9.99
P/S 5.35
P/FCF N/A
P/OCF N/A
P/B 1.17
P/tB 1.17
EV/EBITDA N/A
EPS(TTM)3.48
EY11.17%
EPS(NY)3.12
Fwd EY10.01%
FCF(TTM)-11.09
FCFYN/A
OCF(TTM)-11.09
OCFYN/A
SpS5.82
BVpS26.67
TBVpS26.67
PEG (NY)N/A
PEG (5Y)0.22
Profitability
Industry RankSector Rank
ROA 5.15%
ROE 11.42%
ROCE 5.5%
ROIC 4.34%
ROICexc 4.42%
ROICexgc 4.42%
OM 54.42%
PM (TTM) 52.31%
GM 55.24%
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 1.16
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 2.43
Cash Conversion N/A
Profit Quality N/A
Current Ratio 0.71
Quick Ratio 0.71
Altman-Z 0.89
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-6.87%
EPS Next 2Y-5.73%
EPS Next 3Y-9.16%
EPS Next 5YN/A
Revenue 1Y (TTM)16.04%
Revenue growth 3Y28.55%
Revenue growth 5Y55.07%
Sales Q2Q%17.78%
Revenue Next Year8.41%
Revenue Next 2Y7.46%
Revenue Next 3Y6.69%
Revenue Next 5YN/A
EBIT growth 1Y7.66%
EBIT growth 3Y26.81%
EBIT growth 5Y57.59%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-650.61%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-650.61%
OCF growth 3YN/A
OCF growth 5YN/A