Saturday 10 October 2026
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Sixth Street Specialty Lending, Inc.
TSLX Financial Asset Management
Sixth Street Specialty Lending, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $449.1 million, down 6.94% from fiscal 2024. In the quarter to June 2026, revenue fell 14.9%, EPS fell 31.8%, free cash flow fell 64.6% and total debt rose 11.5%, each against the same quarter a year earlier.
17.35
0.22
−1.25%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
9.61 | 10.75 | 9.67 | 11.25 | 23.52 | 12.23 | 13.21 | 8.87 | 10.49 | 12.00 |
Piotroski F-Score |
3 | 5 | 6 | 3 | 5 | 3 | 3 | 4 | 3 | 5 |
P/S ratio |
5.62 | 5.66 | 4.42 | 5.64 | 5.16 | 6.06 | 4.54 | 4.20 | 4.06 | 4.55 |
P/FCF ratio |
0.00 | 14.48 | 9.72 | 0.00 | 9.61 | 688.43 | 0.00 | 0.00 | 0.00 | 5.09 |
P/Operating CF |
88.66 | (10.45) | 3.99 | (9.09) | (9.69) | (22.98) | 25.87 | (21.16) | (63.80) | 27.59 |
P/B ratio |
1.14 | 1.23 | 1.09 | 1.27 | 1.20 | 1.32 | 1.05 | 1.23 | 1.22 | 1.27 |
Price to Tangible BV |
1.14 | 1.23 | 1.09 | 1.27 | 1.20 | 1.32 | 1.05 | 1.23 | 1.22 | 1.27 |
EV/Sales |
10.67 | 10.36 | 7.84 | 11.11 | 10.32 | 11.32 | 10.08 | 8.88 | 8.56 | 9.05 |
EV/EBITDA |
17.18 | 17.53 | 11.96 | 16.41 | 16.20 | 19.68 | 14.26 | 12.16 | 11.35 | 12.48 |
EV/Operating CF |
(49.04) | 26.53 | 17.22 | (7.39) | 19.22 | 1,286.47 | (13.88) | (16.43) | (90.80) | 10.12 |
EV/FCF |
(49.04) | 26.53 | 17.22 | (7.39) | 19.22 | 1,286.47 | (13.88) | (16.43) | (90.80) | 10.12 |
Quick Ratio |
0.42 | 0.36 | 0.45 | 0.63 | 0.46 | 0.39 | 1.45 | 1.45 | 1.72 | 2.05 |
Current Ratio |
0.49 | 0.71 | 0.56 | 0.81 | 0.84 | 0.44 | 1.59 | 1.66 | 1.90 | 2.83 |
Net Debt/EBITDA |
5.65 | 5.59 | 3.48 | 6.34 | 6.37 | 7.30 | 6.48 | 5.49 | 5.15 | 5.29 |
Debt/Assets |
40.63% | 40.89% | 35.14% | 47.98% | 47.48% | 46.47% | 50.82% | 53.24% | 53.07% | 50.95% |
Debt/Equity |
0.71 | 0.73 | 0.57 | 0.98 | 0.96 | 0.93 | 1.07 | 1.19 | 1.18 | 1.08 |
Asset Turnover |
0.12 | 0.12 | 0.15 | 0.13 | 0.12 | 0.11 | 0.11 | 0.14 | 0.14 | 0.13 |
Operating CF/Net income |
(0.31) | 0.74 | 1.00 | (2.45) | 0.81 | 0.01 | (2.08) | (1.07) | (0.24) | 2.36 |
Capex/Depreciation |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Interest Coverage |
5.72 | 5.48 | 4.44 | 3.69 | 4.88 | 4.67 | 3.68 | 2.48 | 2.44 | 2.65 |
| 15.46% | 11.62% | 11.71% | 14.17% | 15.62% | 17.38% | 8.26% | 15.65% | 12.02% | 10.61% | |
| 8.61% | 6.57% | 6.90% | 7.71% | 7.71% | 8.66% | 4.01% | 7.18% | 5.39% | 4.87% | |
ROIC |
4.19% | 4.61% | 5.54% | 3.75% | 4.23% | 3.64% | 3.82% | 3.80% | 3.99% | 4.02% |
Return on Tangible Assets |
(723.30%) | (1,041.03%) | (620.20%) | (1,869.88%) | (2,299.65%) | (558.67%) | 592.10% | 921.95% | 618.98% | 354.93% |
Average Days of Receivables |
18.36 | 11.70 | 12.30 | 18.95 | 11.60 | 14.12 | 22.24 | 23.30 | 23.08 | 27.74 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
6.67% | 4.86% | 4.75% | 4.95% | 4.46% | 4.60% | 4.08% | 2.88% | 2.71% | 3.10% |
Intangible Assets out of Total Assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Share Based Compensation of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Graham Net Nets |
(0.65) | (0.61) | (0.55) | (0.79) | (0.82) | (0.74) | (1.03) | (0.97) | (0.97) | (0.85) |
Graham Number |
26.49 | 25.93 | 26.43 | 26.97 | 18.52 | 27.58 | 22.91 | 31.02 | 28.25 | 26.38 |
Earnings Yield |
10.40% | 9.31% | 10.34% | 8.89% | 4.25% | 8.17% | 7.57% | 11.27% | 9.53% | 8.33% |
Free Cash Flow Yield |
(3.87%) | 6.91% | 10.29% | (26.65%) | 10.40% | 0.15% | (15.99%) | (12.88%) | (2.32%) | 19.65% |
Revenue per Share |
3.28 | 3.52 | 4.09 | 3.81 | 4.02 | 3.86 | 3.96 | 5.15 | 5.24 | 4.77 |
Operating CF per Share |
(0.71) | 1.37 | 1.86 | (5.72) | 2.16 | 0.03 | (2.87) | (2.78) | (0.49) | 4.27 |
Capex per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Free Cash Flow per Share |
(0.71) | 1.37 | 1.86 | (5.72) | 2.16 | 0.03 | (2.87) | (2.78) | (0.49) | 4.27 |
Cash per Share |
0.10 | 0.11 | 0.17 | 0.21 | 0.20 | 0.22 | 0.33 | 0.30 | 0.30 | 0.21 |
Shareholders Equity per Share |
16.25 | 16.16 | 16.61 | 16.94 | 17.28 | 17.68 | 17.16 | 17.58 | 17.47 | 17.09 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
16.25 | 16.16 | 16.61 | 16.94 | 17.28 | 17.68 | 17.16 | 17.58 | 17.47 | 17.09 |
Free Cash Flow |
(41.84) | 82.39 | 119.19 | (378.04) | 145.07 | 2.45 | (224.53) | (236.79) | (45.49) | 401.58 |
Working Capital |
(18.94) | (10.72) | (19.19) | (8.27) | (7.74) | (37.91) | 18.25 | 24.08 | 30.14 | 48.04 |
Net Current Asset Value |
(705.26) | (724.44) | (642.77) | (1,126.63) | (1,137.55) | (1,245.74) | (1,446.36) | (1,786.69) | (1,910.88) | (1,739.60) |
EV/EBIT |
15.52 | 14.53 | 10.80 | 15.43 | 14.51 | 17.39 | 13.46 | 11.74 | 10.97 | 11.83 |
Capex to Sales |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Price to Operating Income |
9.91 | 9.70 | 7.87 | 10.74 | 9.13 | 11.84 | 8.33 | 9.30 | 8.81 | 9.55 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Cash ROIC |
(2.55%) | 4.91% | 7.09% | (16.97%) | 6.35% | 0.10% | (7.99%) | (7.17%) | (1.29%) | 11.91% |
Accounts Receivable Turnover |
19.41 | 25.66 | 33.60 | 22.98 | 24.96 | 28.78 | 20.88 | 18.72 | 16.50 | 13.89 |
Accounts Payable Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Receivables |
9.91 | 8.22 | 7.80 | 10.94 | 10.82 | 9.68 | 14.81 | 23.41 | 29.24 | 32.33 |
Average Payables |
37.25 | 37.12 | 40.39 | 43.41 | 45.37 | 57.82 | 49.47 | 33.72 | 35.17 | 29.98 |
Average Assets |
1,591.05 | 1,697.89 | 1,725.28 | 2,005.63 | 2,309.76 | 2,445.23 | 2,694.40 | 3,090.38 | 3,463.02 | 3,501.94 |
Average Common Equity |
886.48 | 960.75 | 1,016.24 | 1,091.25 | 1,140.31 | 1,218.58 | 1,308.71 | 1,418.97 | 1,551.95 | 1,607.63 |
Columns are period end dates