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