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Sixth Street Specialty Lending, Inc.(TSLX)Earnings, Financials & Key Ratios
TSLX•NYSE
$16.89
9.3× P/E·Price updated Jun 27, 2026
AboutSixth Street Specialty Lending, Inc. (NYSE: TSLX) is a business development company. The fund provides senior secured loans (first-lien, second-lien, and unitranche), unsecured loans, mezzanine debt, and investments in corporate bonds and equity securities and structured products, non-control structured equity, and common equity with a focus on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations, and refinancing. The fund invests in business services, software & technology, healthcare, energy, consumer & retail, manufacturing, industrials, royalty related businesses, education, and specialty finance. It seeks to finance and lending to middle market companies principally located in the United States. The fund invests in companies with enterprise value between $50 million and $1 billion or more and EBITDA between $10 million and $250 million. The transaction size is between $15 million and $350 million. The fund invests across the spectrum of the capital structure and can arrange syndicated transactions of up to $500 million and hold sizeable positions within its credits.Show more
- EBITDA$231M+19.5%
- Net Income$171M-8.6%
- EPS (Diluted)1.81-10.8%
- Gross Margin72.84%+3.6%
- EBITDA Margin64.06%+19.3%
- Operating Margin53.55%-0.2%
- Net Margin47.34%-8.7%
- ROE10.61%-11.8%
TSLX Price & Volume
Sixth Street Specialty Lending, Inc. (TSLX) stock price & volume — 10-year historical chart
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Fee Volatility Challenges Sustainable Dividend Yield Profile
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Mixed
Profitability:Moderate
Financial Position:Mixed
Cash Flow:Mixed
Primary Risk:Portfolio concentration in software
"Sixth Street Specialty Lending maintains a complex investment profile characterized by significant revenue fluctuations and a reliance on lumpy, fee-based income streams that complicate long-term earnings predictability. While the company offers an attractive 10.6% dividend yield, the frequent decoupling of net income from operating cash flow suggests potential sustainability risks for income-focused investors. Future performance remains contingent on management's ability to navigate a competitive middle-market credit environment while maintaining asset quality within a highly leveraged, 1.08x debt-to-equity capital structure."
Verdict Logic
while the 10.6% dividend yield is compelling, the historical tendency for dividend payouts to exceed operating cash flow—such as the $42.6 million paid against $27.7 million in 2025Q2—warrants caution regarding long-term distribution sustainability.
TSLX Growth Metrics
Sixth Street Specialty Lending, Inc. (TSLX) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years13.65%
5 Years8.88%
3 Years24.39%
TTM-
Profit CAGR
10 Years10.37%
5 Years-0.87%
3 Years16.42%
TTM23297.21%
EPS CAGR
10 Years4.37%
5 Years-7.34%
3 Years9.46%
TTM-38.83%
Return on Capital
10 Years7.05%
5 Years6.31%
3 Years6.16%
Last Year5.55%
TSLX Recent Earnings
Sixth Street Specialty Lending, Inc. (TSLX) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 8/12 qtrs (67%)●Beat Revenue 4/12 qtrs (33%)
Q2 2026Latest
May 5, 2026Metric
Actual
Est
EPS
$0.42-14.3%
$0.49
Rev
$93M-9.4%
$103M
Q1 2026
Feb 12, 2026Metric
Actual
Est
EPS
$0.52+4.0%
$0.50
Rev
$108M+3.7%
$104M
Q4 2025
Nov 4, 2025Metric
Actual
Est
EPS
$0.53+1.9%
$0.52
Rev
$81M-24.2%
$107M
Q3 2025
Jul 30, 2025Metric
Actual
Est
EPS
$0.56+5.7%
$0.53
Rev
$112M+3.8%
$108M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 5, 2026 | $0.42vs $0.49-14.3% | $93Mvs $103M-9.4% |
| Q1 2026 | Feb 12, 2026 | $0.52vs $0.50+4.0% | $108Mvs $104M+3.7% |
| Q4 2025 | Nov 4, 2025 | $0.53vs $0.52+1.9% | $81Mvs $107M-24.2% |
| Q3 2025 | Jul 30, 2025 | $0.56vs $0.53+5.7% | $112Mvs $108M+3.8% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for Sixth Street Specialty Lending, Inc. (TSLX)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $16.89 | $1.6B | 9.33 | 0.13% | 47.34% | 10.61% | 10.65% | |
| $18.19 | $13.06B | 9.78 | 32.87% | 43.69% | 8.11% | — | |
| $12.59 | $3.28B | 8.87 | 42.5% | 26.91% | 5.24% | — | |
| $10.40 | $2.91B | 264.63 | 5.5% | -91.82% | -9.39% | — | |
| $10.82 | $5.37B | 8.73 | 52.55% | 27.51% | 4.83% | — | |
| $10.81 | $751.26M | 10.70 | 17.9% | 23.81% | 4.42% | — |
Compare TSLX vs Peers
Sixth Street Specialty Lending, Inc. (TSLX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
TSLX SEC Filings & Documents
Sixth Street Specialty Lending, Inc. (TSLX) SEC filings — annual & quarterly reports (10-K, 10-Q)
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TSLX Frequently Asked Questions
Sixth Street Specialty Lending, Inc. (TSLX) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Sixth Street Specialty Lending, Inc.'s revenue?
Sixth Street Specialty Lending, Inc. (TSLX) reported $91.48B in revenue for fiscal year 2025.
How fast is Sixth Street Specialty Lending, Inc. growing?
Sixth Street Specialty Lending, Inc. (TSLX) grew revenue by 0.1% over the past year. Growth has been modest.
Is TSLX profitable?
Yes, Sixth Street Specialty Lending, Inc. (TSLX) is profitable, generating $41.18B in net income for fiscal year 2025 (47.3% net margin).
Dividend & Returns
Does TSLX pay dividends?
Yes, Sixth Street Specialty Lending, Inc. (TSLX) pays a dividend with a yield of 10.65%. This makes it attractive for income-focused investors.
What is TSLX's return on equity?
Sixth Street Specialty Lending, Inc. (TSLX) has a return on equity (ROE) of 10.6%. This is reasonable for most industries.
What is Sixth Street Specialty Lending, Inc.'s free cash flow?
Sixth Street Specialty Lending, Inc. (TSLX) had negative free cash flow of $23.22B in fiscal year 2025, likely due to heavy capital investments.