TSLX
Company Description
Sixth Street Specialty Lending, Inc. (TSLX) functions as a specialized Business Development Company. It provides a wide array of financing solutions, including various forms of debt such as senior secured loans (encompassing first-lien, second-lien, and unitranche facilities), unsecured loans, and mezzanine debt. The firm also strategically allocates capital to corporate bonds, equity securities, structured products, non-control structured equity, and common equity, frequently engaging in co-investments. These financial commitments primarily aim to facilitate corporate endeavors like organic expansion, strategic acquisitions, market or product diversification, restructuring initiatives, recapitalizations, and refinancing. Its investment focus covers a broad range of sectors, including business services, software and technology, healthcare, energy, consumer and retail, manufacturing, industrials, royalty-generating enterprises, education, and specialty finance. The company primarily targets middle-market companies, with a strong emphasis on those situated within the United States. Prospective portfolio companies typically exhibit an enterprise value between $50 million and more than $1 billion, alongside EBITDA figures ranging from $10 million to $250 million. Individual transaction sizes generally range from $15 million to $350 million. Sixth Street Specialty Lending is adept at investing across the entire capital structure, possesses the capacity to arrange syndicated transactions totaling up to $500 million, and can maintain significant ownership stakes within its credit exposures.
Track Record
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 360.21M | 359.74M | 369.80M | 187.16M | 266.27M | 235.39M | 220.48M | 177.94M | 152.46M | 175.13M | 100.23M | 107.76M |
| Net Income | 170.52M | 186.57M | 222.02M | 108.05M | 211.78M | 178.11M | 154.58M | 119.02M | 111.61M | 137.01M | 63.57M | 85.05M |
| EPS | 1.81 | 2.03 | 2.61 | 1.38 | 2.93 | 2.65 | 2.34 | 1.86 | 1.86 | 2.34 | 1.18 | 1.68 |
| Free Cash Flow | 180.28M | 187.25M | 191.97M | 71.83M | 112.62M | 135.97M | 118.11M | 133.42M | 84.29M | 83.33M | 60.23M | (148.83M) |
| FCF / Share | 1.90 | 2.03 | 2.26 | 0.92 | 1.56 | 2.02 | 1.79 | 2.08 | 1.41 | 1.42 | 1.12 | -2.95 |
| Operating CF | 180.28M | 187.25M | 191.97M | 71.83M | 112.62M | 135.97M | 118.11M | 133.42M | 84.29M | 83.33M | 60.23M | (148.83M) |
| Total Assets | 3.42B | 3.58B | 3.34B | 2.84B | 2.55B | 2.34B | 2.28B | 1.73B | 1.72B | 1.68B | 1.51B | 1.30B |
| Total Debt | 1.74B | 1.90B | 1.78B | 1.44B | 1.19B | 1.11B | 1.09B | 608.01M | 703.43M | 680.71M | 642.42M | 395.86M |
| Cash & Equiv | 2.94M | 4.97M | 1.22M | 10.21M | 1.57M | 2.46M | 4.83M | 3.27M | 3.52M | 4.87M | 2.43M | 2.41M |
| Book Value | 1.61B | 1.61B | 1.50B | 1.34B | 1.28B | 1.16B | 1.12B | 1.06B | 969.28M | 952.21M | 820.74M | 835.40M |
| Return on Equity | 0.11 | 0.12 | 0.15 | 0.08 | 0.17 | 0.15 | 0.14 | 0.11 | 0.12 | 0.14 | 0.08 | 0.10 |
| Metric | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 52.37M | 92.19M | 81.14M | 112.46M | 74.41M | 93.81M | 84.45M | 91.23M | 90.26M | 111.27M | 103.61M | 89.25M |
| Net Income | (26.02M) | 29.96M | 44.60M | 59.00M | 36.95M | 50.99M | 40.66M | 47.40M | 47.52M | 51.16M | 64.82M | 53.09M |
| EPS | -0.27 | 0.32 | 0.47 | 0.63 | 0.39 | 0.54 | 0.44 | 0.51 | 0.53 | 0.58 | 0.74 | 0.63 |
| Free Cash Flow | 5.59M | 52.42M | 58.41M | 27.67M | 41.78M | 62.30M | 39.99M | 54.55M | 30.41M | 67.28M | 41.36M | 43.38M |
| FCF / Share | 0.06 | 0.55 | 0.62 | 0.29 | 0.45 | 0.67 | 0.43 | 0.59 | 0.34 | 0.77 | 0.47 | 0.52 |
| Operating CF | 5.59M | 52.42M | 58.41M | 27.67M | 41.78M | 62.30M | 39.99M | 54.55M | 30.41M | 67.28M | 41.36M | 43.38M |
| Total Assets | 3.39T | 3.42B | 3.51B | 3.42B | 3.50B | 3.58B | 3.53B | 3.39B | 3.45B | 3.34B | 3.17B | 3.14B |
| Total Debt | 1.80B | 1.74B | 1.83B | 1.73B | 1.84B | 1.90B | 1.87B | 1.71B | 1.80B | 1.78B | 1.62B | 1.62B |
| Cash & Equiv | 29.18B | 2.94M | 63.02M | 3.91M | 4.56M | 4.97M | 6.53M | 5.12M | 6.79M | 1.22M | 2.99M | 10.74M |
| Book Value | 1.54T | 1.61B | 1.62B | 1.62B | 1.60B | 1.61B | 1.60B | 1.60B | 1.58B | 1.50B | 1.49B | 1.46B |
| Return on Equity | -0.00 | 0.02 | 0.03 | 0.04 | 0.02 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.04 | 0.04 |