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Blackstone Secured Lending Fund(BXSL)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL RECENCY
2-STAR RATING
Consider higher Upturn Star rating
BUY for 56 days
PROFIT SINCE LAST BUY
+4.15%
LAST CLOSE
$24.84
09/18/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
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  • 1M
  • 1W
  • BUY Advisory
  • SELL Advisory (Profit)
  • SELL Advisory (Loss)
  • Profit
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  • PASS (Skip)
Upturn Stock price based on last close iconStock price based on last close

Advisory Performance History (Simulated)Advisory Performance History info

Upturn Advisory & Investor View for BXSL

09/18/2026: BXSL (2-star) has a low Upturn Star Rating. Not recommended to BUY.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Price Behavior

Flat / Range-Bound
PRICE PATH

Flat / Range-Bound

The stock price has been trading within a narrow range with minimal directional movement.

Smooth
PRICE STABILITY

Smooth

The stock has moved along a generally orderly path with only modest fluctuations.

Analysis of Past Performance

Type Stock
Historic Profit 21.89%
Avg. Invested days 61
Today’s Advisory Consider higher Upturn Star rating
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 3.0
Stock Returns Performance Upturn Returns Performance icon 3.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/18/2026

Upturn Scorecard

Upturn Star Rating

BXSL receives a 3-star rating, supported by solid company fundamentals. The rating is constrained by weak price momentum, and limited analyst upside.

Company Fundamentals

BXSL has solid overall fundamentals (4 stars), with solid financial health, solid growth momentum, and moderate ownership. In FY2025 versus FY2024, solid revenue growth (+20.9%) and strong profitability (net margin 44.5%) are partially offset by negative earnings growth (-18.8%), soft cash generation (FCF margin -36.2%).

Financial Health Rating

BXSL's financial health is supported by strong profitability, including gross margin of 78.6% and operating margin of 75.8%. Liquidity is soft (2 stars), which helps explain the 4-star overall score.

Growth Momentum Score

Free-cash-flow growth is BXSL's strongest growth driver at +81.8% FY2025 versus FY2024 (strong, 5 stars). By comparison, revenue growth (+20.9%, solid) is also solid, while earnings growth (-18.8%, negative) holds the profile back, so recent growth is not broad-based across the business.

Ownership

Institutional ownership is 45.6% and approximately 0.0% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership of 8.64% supports management-shareholder alignment.

Top 5 Institutional Investors

Morgan Stanley - Brokerage Accounts 2.57%
Bank of America Corp 2.47%
UBS Group AG 2.03%
STRS OHIO 1.72%
Nomura Asset Management Co Ltd 1.53%

Unit Economics (Per $1K Revenue)

BXSL generates approximately $786 of gross profit, $758 of operating income, and $-362 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Strong cash conversion and healthy margins support the rating, although capital efficiency remains below the highest tier.

Economic Dimensions

Effective Tax Rate: 0.51%

Quantitative Style Profile

BXSL has a relatively low-volatility profile. Weak momentum is the primary drawback.

Style Classification

Quality Focused

Value-OrientedLow VolatilitySmall / Mid Cap Risk

Key Highlights

Company Size Mid-Cap Stock
Market Capitalization 5.79B USD
Price to earnings Ratio 19.56
1Y Target Price 24.66
Price to earnings Ratio 19.56
1Y Target Price 24.66
Volume (30-day avg) 1.4M shares
Beta 0.43
52 Weeks Range 21.77 - 26.04
Updated Date 09/19/2026
52 Weeks Range 21.77 - 26.04
Updated Date 09/19/2026
Dividends yield (FY) 12.16%
Basic EPS (TTM) 1.27
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Valuation

Trailing PE 19.56
Forward PE 10.25
Enterprise Value 13.14B
Price to Sales(TTM) 4.25
Enterprise Value 13.14B
Price to Sales(TTM) 4.25
Enterprise Value to Revenue 39.35
Enterprise Value to EBITDA -
Shares Outstanding 232.97M
Shares Floating -
Shares Outstanding 232.97M
Shares Floating -
Percent Insiders 8.64
Percent Institutions 45.62

Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About Blackstone Secured Lending Fund

Exchange NYSE
Headquarters New York, NY, United States
IPO Launch date 2021-10-28
Global Head of Private Credit Strategies, Chairman & CEO Mr. Brad Marshall
Sector Financial Services
Industry Asset Management
Full time employees -
Full time employees -

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 Fund. 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"). In addition, the Fund elected to be treated for U.S. federal income tax purposes, as a regulated investment company ("RIC"), as defined under Subchapter M of the Internal Revenue Code of 1986, as amended (the "Code"). The fund also intends to continue to comply with the requirements prescribed by the Code in order to maintain tax treatment as a RIC. The fund's investment objectives are to generate current income and, to a lesser extent, long-term capital appreciation. The Fund seeks to achieve its investment objective primarily through originated loans, equity and other securities, including syndicated loans, of private U.S. companies, specifically small and middle market companies, typically in the form of first lien senior secured and unitranche loans (including first out/last out loans), and to a lesser extent, second lien, third lien, unsecured and subordinated loans and other debt and equity securities.