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BX

Blackstone Secured Lending Fund

BXSLFinancial ServicesNASDAQ

Asset Management

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Financials · Annual
Revenue
$607.9M
-16.9% YoY
Net Income
$563.5M
-18.8% YoY
Free Cash Flow
$367.4M

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About Blackstone Secured Lending Fund

Blackstone Secured Lending Fund is business development company and a Delaware statutory trust formed on March 26, 2018, and structured as an externally managed, non-diversified closed-end investment. With a market capitalization of $5.52B, it sits in mid-cap territory. On October 26, 2018, the fund elected to be regulated as a business development company (“BDC”) under the Investment Company Act of 1940, as amended (the “1940 Act”).

Key stats
Market Cap$5.52B
P/E (TTM)12.42
Fwd P/E9.10
EPS$1.91
Beta0.44
52W Change-25.1%
Dividend Yield12.98%
ROE7.1%
Analysis

On the balance sheet, BXSL has $275.3M in cash with $8.03B in obligations. The ability to service this debt comfortably depends on continued operational cash generation. The company generates $367.4M in free cash flow annually, which funds everything from R&D to shareholder returns without needing external financing. Return on equity stands at 7.1%, which is modest for the sector. ROE measures how effectively a company uses shareholder capital to generate profits. ROA of 5.0% is on the lower side, which is common in asset-heavy industries. Revenue has been uneven over recent years, ranging from $472.5M to $607.9M.

The relatively low beta of 0.44 suggests BXSL is a less volatile holding compared to the broader index. The debt-to-cash ratio suggests meaningful leverage on the balance sheet, a factor worth monitoring if credit conditions tighten. No single metric tells the full story. Reviewing BXSL's risk profile alongside its fundamentals and technical indicators provides a more complete picture.

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