TSLX

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Sixth Street Specialty Lending, Inc.

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Key Metrics

Previous Close: $18.70
52-Week Range: $16.04 – $24.79
Market Cap: $1.79B
P/E (TTM): 19.97
EPS (TTM): 0.94
Dividend Yield: 8.98%

Advanced Metrics

Price/Book: 1.16
PEG Ratio: 1.28
Return on Equity: 5.63%
Return on Assets: 5.54%
Gross Margin: 100.00%
Operating Margin: 73.86%
Profit Margin: 21.77%
Current Ratio: 9.83
Debt/Equity: 1.24
Total Debt: $1.92B
Free Cash Flow: $148.07M
Revenue Growth: -14.90%
Earnings Growth: -32.10%
Enterprise Value: $3.55B

TSLX Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$136.49M	$273.41M	$252.97M	$216.57M
Selling, General & Admin	$13.36M	$13.41M	$13.95M	$14.90M
Operating Expenses	$25.26M	$49.57M	$59.85M	$40.31M
Pretax Income	$111.24M	$223.83M	$193.12M	$176.26M
Income Tax	$3.18M	$1.81M	$6.55M	$5.74M
Net Income	$108.05M	$222.02M	$186.57M	$170.52M
Diluted EPS	1.38	2.61	2.03	1.81
Diluted Shares	78.20M	85.13M	92.04M	94.10M

TSLX Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$10.21M	$1.22M	$4.97M	$2.94M
Receivables	$18.85M	$27.97M	$30.52M	$34.13M
Total Assets	$2.84B	$3.34B	$3.58B	$3.42B
Total Debt	$1.44B	$1.78B	$1.90B	$1.74B
Total Liabilities	$1.50B	$1.85B	$1.97B	$1.81B
Retained Earnings	$56.46M	$100.78M	$97.71M	$81.64M
Shareholders' Equity	$1.34B	$1.50B	$1.61B	$1.61B
Net Debt	$1.43B	$1.78B	$1.90B	$1.74B

TSLX Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$224.53M	-$236.79M	-$45.49M	$401.58M
Free Cash Flow	-$224.53M	-$236.79M	-$45.49M	$401.58M
Financing Cash Flow	$234.21M	$236.34M	$47.62M	-$409.24M
Dividends Paid	-$144.73M	-$156.42M	-$168.72M	-$170.32M
Share Repurchases	-$6.17M	$0.00	$0.00	—
Net Change in Cash	$9.68M	-$451.00K	$2.13M	-$7.67M

TSLX Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$47.24M	$71.23M	$57.26M	$40.85M	-$17.41M
Selling, General & Admin	$3.55M	$4.09M	$3.73M	$3.53M	$3.37M
Operating Expenses	$8.93M	$10.93M	$10.95M	$9.50M	$7.41M
Pretax Income	$38.30M	$60.29M	$46.31M	$31.35M	-$24.82M
Income Tax	$1.35M	$1.29M	$1.71M	$1.39M	$1.20M
Net Income	$36.95M	$59.00M	$44.60M	$29.96M	-$26.02M
Diluted EPS	0.39	0.63	0.47	—	-0.27
Diluted Shares	93.67M	93.97M	94.25M	—	94.71M

TSLX Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$4.56M	$3.91M	$63.02M	$2.94M	$1.11M
Receivables	$31.16M	$24.74M	$31.19M	$34.13M	$34.55M
Total Assets	$3.50B	$3.42B	$3.51B	$3.42B	$3.39B
Total Debt	$1.84B	$1.73B	$1.83B	$1.74B	$1.80B
Total Liabilities	$1.90B	$1.80B	$1.89B	$1.81B	$1.85B
Retained Earnings	$85.02M	$95.16M	$91.70M	$81.64M	$11.11M
Shareholders' Equity	$1.60B	$1.62B	$1.62B	$1.61B	$1.54B
Net Debt	$1.84B	$1.72B	$1.77B	$1.74B	$1.80B

TSLX Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	$149.92M	$193.20M	-$15.63M	$74.09M	-$23.35M
Free Cash Flow	$149.92M	$193.20M	-$15.63M	$74.09M	-$23.35M
Financing Cash Flow	-$129.98M	-$201.30M	$59.62M	-$137.59M	$32.87M
Dividends Paid	-$43.20M	-$42.64M	-$42.54M	-$41.95M	-$39.02M
Net Change in Cash	$19.94M	-$8.10M	$43.99M	-$63.50M	$9.52M

Market Snapshot

About

Sixth Street Specialty Lending is a business development company that provides customized financing solutions to middle-market companies. The company primarily invests in senior secured loans, unitranche debt, and mezzanine debt across various industries. TSLX operates as a closed-end fund and is externally managed by Sixth Street.