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BLACKSTONE SECURED LENDING F (BXSL) Stock Fundamental Analysis

NYSE:BXSL - US09261X1028 - Common Stock

29.98 USD
+0.11 (+0.37%)
Last: 8/22/2025, 8:04:01 PM
29.93 USD
-0.05 (-0.17%)
After Hours: 8/22/2025, 8:04:01 PM
Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to BXSL. BXSL was compared to 238 industry peers in the Capital Markets industry. While BXSL is still in line with the averages on profitability rating, there are concerns on its financial health. BXSL has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

In the past year BXSL was profitable.
BXSL had a negative operating cash flow in the past year.
Each year in the past 5 years BXSL has 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

Looking at the Return On Assets, with a value of 4.51%, BXSL is in the better half of the industry, outperforming 66.39% of the companies in the same industry.
BXSL's Return On Equity of 9.84% is in line compared to the rest of the industry. BXSL outperforms 57.56% of its industry peers.
BXSL has a Return On Invested Capital (4.42%) which is in line with its industry peers.
The Average Return On Invested Capital over the past 3 years for BXSL is below the industry average of 7.58%.
Industry RankSector Rank
ROA 4.51%
ROE 9.84%
ROIC 4.42%
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 (44.26%) than 88.24% of its industry peers.
BXSL's Profit Margin has declined in the last couple of years.
BXSL's Operating Margin of 53.56% is amongst the best of the industry. BXSL outperforms 89.08% of its industry peers.
BXSL's Operating Margin has improved in the last couple of years.
Looking at the Gross Margin, with a value of 54.38%, BXSL is in the better half of the industry, outperforming 64.29% of the companies in the same industry.
BXSL's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 53.56%
PM (TTM) 44.26%
GM 54.38%
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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1

2. Health

2.1 Basic Checks

The number of shares outstanding for BXSL has been increased compared to 1 year ago.
Compared to 5 years ago, BXSL has more shares outstanding
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

BXSL has an Altman-Z score of 0.87. This is a bad value and indicates that BXSL is not financially healthy and even has some risk of bankruptcy.
With a Altman-Z score value of 0.87, BXSL perfoms like the industry average, outperforming 48.74% of the companies in the same industry.
BXSL has a Debt/Equity ratio of 1.13. This is a high value indicating a heavy dependency on external financing.
With a Debt to Equity ratio value of 1.13, BXSL perfoms like the industry average, outperforming 43.28% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.13
Debt/FCF N/A
Altman-Z 0.87
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 0.94 indicates that BXSL may have some problems paying its short term obligations.
BXSL has a Current ratio of 0.94. This is comparable to the rest of the industry: BXSL outperforms 40.34% of its industry peers.
A Quick Ratio of 0.94 indicates that BXSL may have some problems paying its short term obligations.
The Quick ratio of BXSL (0.94) is comparable to the rest of the industry.
Industry RankSector Rank
Current Ratio 0.94
Quick Ratio 0.94
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 -8.64%.
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 14.69% 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)-8.64%
EPS 3Y7.56%
EPS 5Y40.04%
EPS Q2Q%-13.58%
Revenue 1Y (TTM)14.69%
Revenue growth 3Y28.55%
Revenue growth 5Y55.07%
Sales Q2Q%-0.83%

3.2 Future

The Earnings Per Share is expected to decrease by -7.51% on average over the next years.
BXSL is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 1.20% yearly.
EPS Next Y-7.78%
EPS Next 2Y-6.97%
EPS Next 3Y-7.51%
EPS Next 5YN/A
Revenue Next Year3.5%
Revenue Next 2Y3.73%
Revenue Next 3Y1.2%
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
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

Based on the Price/Earnings ratio of 8.95, the valuation of BXSL can be described as reasonable.
BXSL's Price/Earnings ratio is a bit cheaper when compared to the industry. BXSL is cheaper than 79.41% of the companies in the same industry.
When comparing the Price/Earnings ratio of BXSL to the average of the S&P500 Index (27.24), we can say BXSL is valued rather cheaply.
With a Price/Forward Earnings ratio of 9.87, the valuation of BXSL can be described as very reasonable.
BXSL's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. BXSL is cheaper than 73.95% of the companies in the same industry.
BXSL is valuated cheaply when we compare the Price/Forward Earnings ratio to 22.81, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 8.95
Fwd PE 9.87
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 20

4.3 Compensation for Growth

A cheap valuation may be justified as BXSL's earnings are expected to decrease with -7.51% in the coming years.
PEG (NY)N/A
PEG (5Y)0.22
EPS Next 2Y-6.97%
EPS Next 3Y-7.51%

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5

5. Dividend

5.1 Amount

BXSL has a Yearly Dividend Yield of 10.31%, which is a nice return.
BXSL's Dividend Yield is a higher than the industry average which is at 8.00.
Compared to an average S&P500 Dividend Yield of 2.34, BXSL pays a better dividend.
Industry RankSector Rank
Dividend Yield 10.31%

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

103.25% of the earnings are spent on dividend by BXSL. This is not a sustainable payout ratio.
DP103.25%
EPS Next 2Y-6.97%
EPS Next 3Y-7.51%
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 (8/22/2025, 8:04:01 PM)

After market: 29.93 -0.05 (-0.17%)

29.98

+0.11 (+0.37%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)08-06 2025-08-06/bmo
Earnings (Next)11-10 2025-11-10/bmo
Inst Owners40.4%
Inst Owner Change4.71%
Ins Owners3.27%
Ins Owner Change0.68%
Market Cap6.90B
Analysts81.33
Price Target32.58 (8.67%)
Short Float %1.73%
Short Ratio3.8
Dividend
Industry RankSector Rank
Dividend Yield 10.31%
Yearly Dividend2.86
Dividend Growth(5Y)N/A
DP103.25%
Div Incr Years3
Div Non Decr Years3
Ex-Date09-30 2025-09-30 (0.77)
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-2.43%
Min EPS beat(2)-4.58%
Max EPS beat(2)-0.29%
EPS beat(4)0
Avg EPS beat(4)-2.12%
Min EPS beat(4)-4.58%
Max EPS beat(4)-0.26%
EPS beat(8)1
Avg EPS beat(8)-2.85%
EPS beat(12)4
Avg EPS beat(12)-0.28%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-5.57%
Min Revenue beat(2)-9.32%
Max Revenue beat(2)-1.83%
Revenue beat(4)0
Avg Revenue beat(4)-4.24%
Min Revenue beat(4)-9.32%
Max Revenue beat(4)-0.65%
Revenue beat(8)2
Avg Revenue beat(8)-1.81%
Revenue beat(12)4
Avg Revenue beat(12)-0.4%
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-0.42%
PT rev (3m)-2.59%
EPS NQ rev (1m)-0.3%
EPS NQ rev (3m)-2.22%
EPS NY rev (1m)-0.76%
EPS NY rev (3m)-0.97%
Revenue NQ rev (1m)-0.76%
Revenue NQ rev (3m)2.82%
Revenue NY rev (1m)-4.33%
Revenue NY rev (3m)-4.53%
Valuation
Industry RankSector Rank
PE 8.95
Fwd PE 9.87
P/S 4.94
P/FCF N/A
P/OCF N/A
P/B 1.1
P/tB 1.1
EV/EBITDA N/A
EPS(TTM)3.35
EY11.17%
EPS(NY)3.04
Fwd EY10.13%
FCF(TTM)-5.29
FCFYN/A
OCF(TTM)-5.29
OCFYN/A
SpS6.07
BVpS27.31
TBVpS27.31
PEG (NY)N/A
PEG (5Y)0.22
Profitability
Industry RankSector Rank
ROA 4.51%
ROE 9.84%
ROCE 5.6%
ROIC 4.42%
ROICexc 4.52%
ROICexgc 4.52%
OM 53.56%
PM (TTM) 44.26%
GM 54.38%
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-Score1
Asset Turnover0.1
Health
Industry RankSector Rank
Debt/Equity 1.13
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 2.28
Cash Conversion N/A
Profit Quality N/A
Current Ratio 0.94
Quick Ratio 0.94
Altman-Z 0.87
F-Score1
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)-8.64%
EPS 3Y7.56%
EPS 5Y40.04%
EPS Q2Q%-13.58%
EPS Next Y-7.78%
EPS Next 2Y-6.97%
EPS Next 3Y-7.51%
EPS Next 5YN/A
Revenue 1Y (TTM)14.69%
Revenue growth 3Y28.55%
Revenue growth 5Y55.07%
Sales Q2Q%-0.83%
Revenue Next Year3.5%
Revenue Next 2Y3.73%
Revenue Next 3Y1.2%
Revenue Next 5YN/A
EBIT growth 1Y8.85%
EBIT growth 3Y26.81%
EBIT growth 5Y57.59%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-191.38%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-191.38%
OCF growth 3YN/A
OCF growth 5YN/A