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Sixth Street Specialty Lending (TSLX) Financials

Sixth Street Specialty Lending logo
$22.55 +0.11 (+0.49%)
Closing price 05/23/2025 03:59 PM Eastern
Extended Trading
$22.69 +0.14 (+0.64%)
As of 05/23/2025 08:00 PM Eastern
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Annual Income Statements for Sixth Street Specialty Lending

Annual Income Statements for Sixth Street Specialty Lending

This table shows Sixth Street Specialty Lending's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020
Net Income / (Loss) Attributable to Common Shareholders		 189 222 108 212 -89
Consolidated Net Income / (Loss)		 187 222 134 218 -89
Net Income / (Loss) Continuing Operations		 189 221 134 218 -89
Total Pre-Tax Income 		193 224 169 143 153
Total Revenue		 381 431 462 393 0.74
Net Interest Income / (Expense)		 423 399 451 370 0.00
Total Interest Income		 423 399 451 409 0.00
Investment Securities Interest Income		 423 399 451 409 -
Total Interest Expense		 0.00 0.00 0.00 39 0.00
Total Non-Interest Income		 -42 32 10 22 0.74
Other Service Charges		 1.47 1.17 0.43 0.19 -
Net Realized & Unrealized Capital Gains on Investments		 -44 31 15 29 0.74
Total Non-Interest Expense		 247 247 272 234 84
Other Operating Expenses		 260 240 281 233 45
Other Special Charges		 -13 6.39 -8.72 0.59 39
Nonoperating Income / (Expense), net		 59 39 -52 62 -
Income Tax Expense		 3.94 2.37 3.18 2.29 5.76
Basic Earnings per Share		 $2.03 $2.61 $1.38 $2.93 $2.65
Weighted Average Basic Shares Outstanding		 92.04M 85.13M 78.20M 72.17M 67.21M
Diluted Earnings per Share		 $2.03 $2.61 $1.38 $2.79 $2.65
Weighted Average Diluted Shares Outstanding		 92.04M 85.13M 78.20M 77.70M 67.21M
Weighted Average Basic & Diluted Shares Outstanding		 93.66M 87.83M 81.39M - -

Quarterly Income Statements for Sixth Street Specialty Lending

This table shows Sixth Street Specialty Lending's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Income / (Loss) Attributable to Common Shareholders		 37 52 42 47 48 51 65 53 53 108 34
Consolidated Net Income / (Loss)		 28 51 41 47 48 51 65 53 53 136 34
Net Income / (Loss) Continuing Operations		 28 52 42 47 48 51 65 53 53 134 35
Total Pre-Tax Income 		28 53 43 49 48 61 65 54 43 109 35
Total Revenue		 90 82 104 99 96 59 114 105 154 400 64
Net Interest Income / (Expense)		 108 108 106 105 105 64 104 98 133 318 75
Total Interest Income		 108 108 106 105 105 64 104 98 133 318 75
Investment Securities Interest Income		 108 108 106 105 105 64 104 98 133 - 75
Total Interest Expense		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Non-Interest Income		 -17 -25 -2.11 -5.93 -9.06 -5.03 9.87 6.80 21 82 -11
Other Service Charges		 -7.65 0.44 0.33 0.30 0.40 0.35 0.27 0.30 0.26 - 0.19
Net Realized & Unrealized Capital Gains on Investments		 -9.70 -26 -2.44 -6.22 -9.46 -5.38 9.60 6.50 20 - -11
Total Non-Interest Expense		 62 45 74 67 60 20 59 60 108 204 31
Other Operating Expenses		 51 65 64 66 65 11 64 58 107 206 40
Other Special Charges		 11 -21 10 1.64 -4.73 8.86 -5.47 2.00 1.00 -1.43 -9.22
Nonoperating Income / (Expense), net		 -0.28 16 13 17 13 13 10 9.38 6.79 - 2.55
Basic Earnings per Share		 $0.39 $0.55 $0.44 $0.51 $0.53 $0.59 $0.74 $0.63 $0.65 $0.59 $0.43
Weighted Average Basic Shares Outstanding		 93.67M 92.04M 93.02M 92.73M 89.03M 85.13M 87.25M 84.22M 81.40M 78.20M 79.48M
Diluted Earnings per Share		 $0.39 $0.55 $0.44 $0.51 $0.53 $0.59 $0.74 $0.63 $0.65 $0.59 $0.43
Weighted Average Diluted Shares Outstanding		 93.67M 92.04M 93.02M 92.73M 89.03M 85.13M 87.25M 84.22M 81.40M 78.20M 79.48M
Weighted Average Basic & Diluted Shares Outstanding		 93.96M 93.66M 93.32M 93.02M 92.72M 87.83M 87.55M 87.24M 81.75M 81.39M 80.98M

Annual Cash Flow Statements for Sixth Street Specialty Lending

This table details how cash moves in and out of Sixth Street Specialty Lending's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021 2020
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020
Net Change in Cash & Equivalents		 2.13 -0.45 9.68 2.69 -0.87
Net Cash From Operating Activities		 -45 -237 -225 2.45 145
Net Cash From Continuing Operating Activities		 -45 -237 -225 2.45 145
Net Income / (Loss) Continuing Operations		 187 222 108 212 178
Consolidated Net Income / (Loss)		 187 222 108 212 178
Amortization Expense		 -13 -11 -13 -21 -20
Non-Cash Adjustments to Reconcile Net Income		 -237 -472 -251 -191 -31
Changes in Operating Assets and Liabilities, net		 18 25 -68 2.75 18
Net Cash From Investing Activities		 0.00 0.00 0.00 0.00 0.00
Net Cash From Continuing Investing Activities		 0.00 0.00 0.00 0.00 0.00
Net Cash From Financing Activities		 48 236 234 0.24 -146
Net Cash From Continuing Financing Activities		 48 236 234 0.24 -146
Issuance of Debt		 1,785 1,546 1,330 1,617 1,114
Issuance of Common Equity		 93 89 0.00 86 0.00
Repayment of Debt		 -1,653 -1,233 -940 -1,473 -1,123
Repurchase of Common Equity		 0.00 0.00 -6.17 0.00 -2.93
Payment of Dividends		 -169 -156 -145 -222 -130
Other Financing Activities, Net		 -8.81 -9.42 -4.30 -7.95 -4.27
Cash Interest Paid		 140 119 56 29 34
Cash Income Taxes Paid		 2.28 2.44 1.67 3.87 3.98

Quarterly Cash Flow Statements for Sixth Street Specialty Lending

This table details how cash moves in and out of Sixth Street Specialty Lending's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Net Change in Cash & Equivalents		 20 -2.40 -4.92 -1.24 11 -4.68 4.03 0.12 0.09 -4.63 3.10
Net Cash From Operating Activities		 150 -31 -74 125 -66 -87 37 -113 -74 54 -244
Net Cash From Continuing Operating Activities		 150 -31 -74 125 -66 -87 37 -113 -74 54 -244
Net Income / (Loss) Continuing Operations		 37 51 41 47 48 51 65 53 53 46 34
Consolidated Net Income / (Loss)		 37 51 41 47 48 51 65 53 53 46 34
Amortization Expense		 -4.27 -3.87 -2.42 -4.43 -1.86 -3.00 -3.48 -2.86 -2.12 -4.86 -1.92
Non-Cash Adjustments to Reconcile Net Income		 124 -99 -109 71 -100 -162 -19 -164 -127 30 -264
Changes in Operating Assets and Liabilities, net		 -6.35 21 -3.71 12 -11 27 -5.30 1.17 2.24 -17 -12
Net Cash From Investing Activities		 0.00 - - - 0.00 - - - 0.00 - -
Net Cash From Continuing Investing Activities		 0.00 - - - 0.00 - - - 0.00 - -
Net Cash From Financing Activities		 -130 28 70 -127 76 82 -33 113 74 -59 247
Net Cash From Continuing Financing Activities		 -130 28 70 -127 76 82 -33 113 74 -59 247
Issuance of Debt		 530 678 251 234 622 318 478 293 458 305 526
Issuance of Common Equity		 0.00 0.00 - 12 81 -0.00 -0.09 89 0.00 - -
Repayment of Debt		 -610 -609 -139 -326 -579 -196 -467 -226 -345 -331 -221
Payment of Dividends		 -43 -41 -43 -42 -43 -41 -39 -38 -39 -30 -54
Other Financing Activities, Net		 -7.30 - -0.03 -3.74 -5.03 -0.01 -4.32 -5.08 0.00 - -
Cash Interest Paid		 45 24 48 30 38 31 32 31 26 22 16
Cash Income Taxes Paid		 4.50 0.00 -0.13 0.10 2.30 0.01 0.01 0.00 2.41 0.07 0.01

Annual Balance Sheets for Sixth Street Specialty Lending

This table presents Sixth Street Specialty Lending's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2024 2023 2022 2021
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021
Total Assets		 3,582 3,344 2,837 2,552
Cash and Due from Banks		 27 25 26 16
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00
Other Assets		 3,555 3,319 2,811 2,536
Total Liabilities & Shareholders' Equity		 3,582 3,344 2,837 2,552
Total Liabilities		 1,975 1,847 1,495 1,276
Long-Term Debt		 1,901 1,780 1,442 1,186
Other Long-Term Liabilities		 74 67 54 90
Commitments & Contingencies		 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,608 1,496 1,342 1,276
Total Preferred & Common Equity		 1,608 1,496 1,342 1,276
Preferred Stock		 0.00 0.00 0.00 0.00
Total Common Equity		 1,608 1,496 1,342 1,276
Common Stock		 1,520 1,406 1,296 1,190
Retained Earnings		 98 101 56 90
Treasury Stock		 -10 -10 -10 -4.29

Quarterly Balance Sheets for Sixth Street Specialty Lending

This table presents Sixth Street Specialty Lending's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2025 Q3 2024 Q2 2024 Q1 2024 Q3 2023 Q2 2023 Q1 2023 Q3 2022
Period end date 3/31/2025 9/30/2024 6/30/2024 3/31/2024 9/30/2023 6/30/2023 3/31/2023 9/30/2022
Total Assets		 3,499 3,530 3,387 3,452 3,174 3,141 2,973 2,860
Cash and Due from Banks		 47 30 35 36 30 26 26 30
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Assets		 3,451 3,500 3,352 3,416 3,144 3,115 2,947 2,829
Total Liabilities & Shareholders' Equity		 3,499 3,530 3,387 3,452 3,174 3,141 2,973 2,860
Total Liabilities		 1,897 1,933 1,788 1,870 1,688 1,681 1,617 1,532
Long-Term Debt		 1,845 1,870 1,713 1,804 1,623 1,623 1,563 1,457
Other Long-Term Liabilities		 52 62 75 66 65 54 54 75
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,601 1,597 1,599 1,582 1,486 1,461 1,356 1,328
Total Preferred & Common Equity		 1,601 1,597 1,599 1,582 1,486 1,461 1,356 1,328
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 1,601 1,597 1,599 1,582 1,486 1,461 1,356 1,328
Common Stock		 1,527 1,517 1,511 1,493 1,402 1,396 1,301 1,291
Retained Earnings		 85 90 98 99 94 75 65 44
Treasury Stock		 -10 -10 -10 -10 -10 -10 -10 -7.29

Annual Metrics And Ratios for Sixth Street Specialty Lending

This table displays calculated financial ratios and metrics derived from Sixth Street Specialty Lending's official financial filings.

Metric 2024 2023 2022 2021 2020
Period end date 12/31/2024 12/31/2023 12/31/2022 12/31/2021 12/31/2020
Growth Metrics		 - - - - -
Revenue Growth		 -11.75% -6.58% 17.63% 53,020.30% 0.00%
EBITDA Growth		 -29.81% -1.91% 27.97% 232.93% 0.00%
EBIT Growth		 -27.35% -2.56% 19.15% 290.01% 0.00%
NOPAT Growth		 -28.07% -15.85% 171.92% -45.73% 0.00%
Net Income Growth		 -15.97% 65.66% -38.60% 344.20% 0.00%
EPS Growth		 -22.22% 89.13% -50.54% 5.28% 0.00%
Operating Cash Flow Growth		 80.79% -5.46% -9,257.10% -98.31% 0.00%
Free Cash Flow Firm Growth		 67.60% -197.00% 95.61% 0.00% 0.00%
Invested Capital Growth		 7.08% 17.72% 13.06% 0.00% 0.00%
Revenue Q/Q Growth		 57.34% -40.30% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 -14.34% -49.29% 0.00% 0.00% 0.00%
EBIT Q/Q Growth		 -12.68% -47.96% 0.00% 0.00% 0.00%
NOPAT Q/Q Growth		 -18.11% -31.90% 0.00% 0.00% 0.00%
Net Income Q/Q Growth		 -0.09% -27.54% 0.00% 0.00% 0.00%
EPS Q/Q Growth		 -1.93% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 55.24% -147.61% 36.26% 0.00% 0.00%
Free Cash Flow Firm Q/Q Growth		 49.26% 0.00% 0.00% 0.00% 0.00%
Invested Capital Q/Q Growth		 1.18% 5.40% 0.00% 0.00% 0.00%
Profitability Metrics		 - - - - -
EBITDA Margin		 31.90% 40.11% 38.20% 35.12% -14,032.61%
EBIT Margin		 35.21% 42.77% 41.00% 40.48% -11,316.64%
Profit (Net Income) Margin		 49.01% 51.47% 29.02% 55.61% -12,096.08%
Tax Burden Percent		 96.61% 99.27% 79.33% 152.92% -58.52%
Interest Burden Percent		 144.08% 121.23% 89.23% 89.83% -182.67%
Effective Tax Rate		 2.04% 1.06% 1.88% 1.60% 3.77%
Return on Invested Capital (ROIC)		 3.87% 6.02% 8.27% 6.48% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 6.87% 8.48% 1.96% 29.84% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 8.15% 9.62% 1.97% 27.74% 0.00%
Return on Equity (ROE)		 12.02% 15.65% 10.24% 34.22% 0.00%
Cash Return on Invested Capital (CROIC)		 -2.97% -10.26% -3.99% -193.52% 0.00%
Operating Return on Assets (OROA)		 3.87% 5.97% 7.03% 6.23% 0.00%
Return on Assets (ROA)		 5.39% 7.18% 4.97% 8.55% 0.00%
Return on Common Equity (ROCE)		 12.02% 15.65% 10.24% 34.22% 0.00%
Return on Equity Simple (ROE_SIMPLE)		 11.61% 14.84% 9.99% 17.11% 0.00%
Net Operating Profit after Tax (NOPAT)		 131 183 217 80 147
NOPAT Margin		 34.49% 42.32% 46.98% 20.32% 19,892.29%
Net Nonoperating Expense Percent (NNEP)		 -3.00% -2.45% 6.31% -23.36% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 64.79% 57.23% 59.00% 59.52% 11,416.64%
Earnings before Interest and Taxes (EBIT)		 134 184 189 159 -84
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 121 173 176 138 -104
Valuation Ratios		 - - - - -
Price to Book Value (P/BV)		 1.24 1.12 0.85 0.00 0.00
Price to Tangible Book Value (P/TBV)		 1.24 1.12 0.85 0.00 0.00
Price to Revenue (P/Rev)		 5.22 3.89 2.48 0.00 0.00
Price to Earnings (P/E)		 10.51 7.55 10.61 0.00 0.00
Dividend Yield		 11.97% 10.97% 13.00% 20.20% 14.07%
Earnings Yield		 9.52% 13.24% 9.43% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 1.10 1.05 0.92 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 10.14 7.96 5.55 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 31.80 19.83 14.53 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 28.81 18.60 13.53 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 29.41 18.80 11.81 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - -
Debt to Equity		 1.18 1.19 1.07 0.93 0.00
Long-Term Debt to Equity		 1.18 1.19 1.07 0.93 0.00
Financial Leverage		 1.19 1.14 1.00 0.93 0.00
Leverage Ratio		 2.23 2.18 2.06 2.00 0.00
Compound Leverage Factor		 3.22 2.64 1.84 1.80 0.00
Debt to Total Capital		 54.18% 54.33% 51.80% 48.17% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 54.18% 54.33% 51.80% 48.17% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 45.82% 45.67% 48.20% 51.83% 0.00%
Debt to EBITDA		 15.65 10.29 8.17 8.60 0.00
Net Debt to EBITDA		 15.43 10.14 8.03 8.49 0.00
Long-Term Debt to EBITDA		 15.65 10.29 8.17 8.60 0.00
Debt to NOPAT		 14.48 9.75 6.65 14.87 0.00
Net Debt to NOPAT		 14.27 9.62 6.53 14.67 0.00
Long-Term Debt to NOPAT		 14.48 9.75 6.65 14.87 0.00
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - -
Cash Flow Metrics		 - - - - -
Free Cash Flow to Firm (FCFF)		 -101 -311 -105 -2,382 0.00
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 -61.35 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.06 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.06 0.00
Efficiency Ratios		 - - - - -
Asset Turnover		 0.11 0.14 0.17 0.15 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - -
Invested Capital		 3,509 3,277 2,783 2,462 0.00
Invested Capital Turnover		 0.11 0.14 0.18 0.32 0.00
Increase / (Decrease) in Invested Capital		 232 493 322 2,462 0.00
Enterprise Value (EV)		 3,861 3,432 2,563 0.00 0.00
Market Capitalization		 1,988 1,677 1,146 0.00 0.00
Book Value per Share		 $17.23 $17.09 $16.57 $17.68 $0.00
Tangible Book Value per Share		 $17.23 $17.09 $16.57 $17.68 $0.00
Total Capital		 3,509 3,277 2,783 2,462 0.00
Total Debt		 1,901 1,780 1,442 1,186 0.00
Total Long-Term Debt		 1,901 1,780 1,442 1,186 0.00
Net Debt		 1,874 1,755 1,416 1,170 0.00
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 -55 -39 83 -139 236
Net Nonoperating Obligations (NNO)		 1,901 1,780 1,442 1,186 0.00
Total Depreciation and Amortization (D&A)		 -13 -11 -13 -21 -20
Earnings Adjustments		 - - - - -
Adjusted Basic Earnings per Share		 $2.03 $2.61 $1.38 $0.00 $0.00
Adjusted Weighted Average Basic Shares Outstanding		 92.04M 85.13M 78.20M 0.00 0.00
Adjusted Diluted Earnings per Share		 $2.03 $2.61 $1.38 $0.00 $0.00
Adjusted Weighted Average Diluted Shares Outstanding		 92.04M 85.13M 78.20M 0.00 0.00
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 93.66M 87.83M 81.39M 0.00 0.00
Normalized Net Operating Profit after Tax (NOPAT)		 118 189 208 80 185
Normalized NOPAT Margin		 31.05% 43.78% 45.12% 20.47% 25,023.05%
Pre Tax Income Margin		 50.73% 51.85% 36.59% 36.36% 20,671.72%
Debt Service Ratios		 - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 4.09 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 2.05 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 4.09 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 2.05 0.00
Payout Ratios		 - - - - -
Dividend Payout Ratio		 90.43% 70.45% 107.99% 101.67% -145.93%
Augmented Payout Ratio		 90.43% 70.45% 112.59% 101.67% -149.21%

Quarterly Metrics And Ratios for Sixth Street Specialty Lending

This table displays calculated financial ratios and metrics derived from Sixth Street Specialty Lending's official financial filings.

Metric Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022
Period end date 3/31/2025 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 3/31/2023 12/31/2022 9/30/2022
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.55% 39.99% -9.02% -5.52% -37.82% -85.31% 78.51% 4,363.82% 0.00% 0.00% -33.51%
EBITDA Growth		 -35.03% -5.14% -47.72% -34.75% -23.97% -81.43% 68.69% 307.58% 274.68% 0.00% -63.11%
EBIT Growth		 -27.12% -2.49% -46.63% -29.00% -23.42% -80.36% 69.42% 360.97% 309.09% 0.00% -60.80%
NOPAT Growth		 -27.12% -22.90% -47.13% -29.61% -4.14% -55.58% 69.95% 466.60% 1.39% 0.00% -11.57%
Net Income Growth		 -27.63% -0.33% -37.28% -10.72% -10.26% -62.25% 88.26% 492.53% 336.22% 0.00% -58.52%
EPS Growth		 -26.42% -6.78% -40.54% -19.05% -18.46% 0.00% 72.09% 520.00% 27.45% 0.00% -38.57%
Operating Cash Flow Growth		 328.75% 64.63% -303.20% 210.78% 10.84% -260.01% 115.02% 2.42% -190.58% 173.91% 0.00%
Free Cash Flow Firm Growth		 92.63% 56.19% -22.64% 93.51% 84.99% 0.00% 90.23% 0.00% 0.00% 0.00% 0.00%
Invested Capital Growth		 1.76% 7.08% 11.54% 7.40% 16.01% 17.72% 11.62% 0.00% 0.00% 0.00% 0.00%
Revenue Q/Q Growth		 9.55% -20.62% 4.63% 3.69% 255.20% -48.41% 8.66% -31.76% -56.08% 527.04% 2,695.53%
EBITDA Q/Q Growth		 -28.93% 24.47% -0.90% -18.48% -31.45% -31.41% 23.70% -5.01% -78.39% 523.19% 252.21%
EBIT Q/Q Growth		 -24.88% 27.38% -7.12% -10.23% -31.83% -30.29% 23.57% -3.18% -77.87% 501.39% 290.34%
NOPAT Q/Q Growth		 -23.20% 26.65% -6.27% -10.92% -42.92% -13.16% 24.78% 21.31% -66.21% 232.26% 369.16%
Net Income Q/Q Growth		 -45.27% 25.43% -14.23% -0.25% -7.12% -21.07% 22.09% 0.26% -60.93% 293.64% 354.57%
EPS Q/Q Growth		 -29.09% 25.00% -13.73% -3.77% -10.17% -20.27% 17.46% -3.08% 10.17% 37.21% 386.67%
Operating Cash Flow Q/Q Growth		 587.94% 58.76% -159.47% 291.14% 24.55% -336.95% 132.42% -53.84% -235.39% 122.24% -110.65%
Free Cash Flow Firm Q/Q Growth		 83.83% 40.79% -67.26% 54.42% -0.02% -65.74% 91.15% -5.45% 0.00% 100.00% 0.00%
Invested Capital Q/Q Growth		 -1.78% 1.18% 4.70% -2.20% 3.35% 5.40% 0.81% 5.65% 4.87% -0.06% 0.00%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 26.52% 40.89% 26.08% 27.53% 35.02% 60.34% 45.38% 39.86% 28.64% 47.73% 48.02%
EBIT Margin		 31.26% 45.59% 28.41% 32.01% 36.97% 65.44% 48.43% 42.59% 30.02% 48.94% 51.03%
Profit (Net Income) Margin		 30.95% 61.95% 39.21% 47.83% 49.72% 87.00% 56.87% 50.61% 34.45% 33.85% 53.92%
Tax Burden Percent		 100.00% 95.64% 94.97% 97.48% 98.24% 83.90% 99.29% 98.23% 122.15% 124.47% 98.02%
Interest Burden Percent		 99.01% 142.08% 145.32% 153.31% 136.90% 158.46% 118.26% 120.99% 93.96% 55.57% 107.81%
Effective Tax Rate		 0.00% 2.19% 1.63% 2.52% 1.76% 0.97% 0.71% 1.67% 0.95% 1.59% 1.01%
Return on Invested Capital (ROIC)		 3.49% 5.00% 2.06% 2.46% 2.97% 11.52% 11.79% 18.26% 9.12% 4.44% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 3.47% 5.78% 2.72% 3.45% 3.73% 11.75% 12.44% 19.39% 11.26% 6.41% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 3.98% 6.85% 3.09% 3.76% 4.28% 13.34% 13.62% 21.55% 12.98% 6.89% 0.00%
Return on Equity (ROE)		 7.47% 11.86% 5.14% 6.22% 7.25% 24.86% 25.41% 39.81% 22.10% 11.33% 0.00%
Cash Return on Invested Capital (CROIC)		 1.87% -2.97% -6.04% -1.31% -8.50% -10.26% 0.00% 0.00% 0.00% -3.76% 0.00%
Operating Return on Assets (OROA)		 3.43% 5.01% 2.05% 2.47% 2.97% 9.13% 11.60% 9.12% 5.71% 8.39% 0.00%
Return on Assets (ROA)		 3.39% 6.81% 2.83% 3.70% 3.99% 12.14% 13.62% 10.83% 6.55% 5.80% 0.00%
Return on Common Equity (ROCE)		 7.47% 11.86% 5.14% 6.22% 7.25% 24.86% 25.41% 39.81% 22.10% 11.33% 0.00%
Return on Equity Simple (ROE_SIMPLE)		 10.99% 0.00% 11.69% 13.19% 13.69% 0.00% 20.62% 18.90% 15.44% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 28 37 29 31 35 48 55 44 36 107 32
NOPAT Margin		 31.26% 44.58% 27.95% 31.20% 36.32% 80.95% 48.09% 41.88% 23.56% 26.77% 50.51%
Net Nonoperating Expense Percent (NNEP)		 0.02% -0.78% -0.67% -0.99% -0.76% -0.22% -0.65% -1.13% -2.14% -1.97% -0.30%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 68.74% 54.41% 71.59% 67.99% 63.03% 34.56% 51.57% 57.41% 69.98% 51.06% 48.97%
Earnings before Interest and Taxes (EBIT)		 28 38 29 32 35 38 55 45 46 196 33
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 24 34 27 27 33 35 52 42 44 191 31
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.31 1.24 1.20 1.24 1.16 1.12 1.06 0.93 0.95 0.85 0.00
Price to Tangible Book Value (P/TBV)		 1.31 1.24 1.20 1.24 1.16 1.12 1.06 0.93 0.95 0.85 0.00
Price to Revenue (P/Rev)		 5.50 5.22 7.89 7.85 7.10 3.89 2.19 2.01 2.27 2.48 0.00
Price to Earnings (P/E)		 11.74 10.51 10.15 9.39 8.45 7.55 5.67 5.44 7.00 10.61 0.00
Dividend Yield		 9.29% 11.97% 12.52% 12.04% 12.19% 10.97% 11.16% 11.61% 11.86% 13.00% 17.81%
Earnings Yield		 8.52% 9.52% 9.85% 10.65% 11.83% 13.24% 17.65% 18.37% 14.29% 9.43% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 1.13 1.10 1.08 1.10 1.06 1.05 1.02 0.96 0.97 0.92 0.00
Enterprise Value to Revenue (EV/Rev)		 10.21 10.14 15.50 14.50 13.95 7.96 4.39 4.39 4.99 5.55 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 35.87 31.80 26.45 21.97 19.89 19.83 9.30 9.21 10.93 14.53 0.00
Enterprise Value to EBIT (EV/EBIT)		 31.52 28.81 24.43 20.41 18.73 18.60 8.95 8.89 10.44 13.53 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 31.52 29.41 23.39 19.65 18.06 18.80 11.84 12.39 16.31 11.81 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 22.91 0.00 0.00 384.15 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 61.05 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.15 1.18 1.17 1.07 1.14 1.19 1.09 1.11 1.15 1.07 1.10
Long-Term Debt to Equity		 1.15 1.18 1.17 1.07 1.14 1.19 1.09 1.11 1.15 1.07 1.10
Financial Leverage		 1.15 1.19 1.13 1.09 1.15 1.14 1.09 1.11 1.15 1.07 1.10
Leverage Ratio		 2.18 2.23 2.17 2.13 2.19 2.18 2.14 2.15 2.19 2.06 2.15
Compound Leverage Factor		 2.16 3.17 3.16 3.27 2.99 3.45 2.54 2.60 2.06 1.14 2.32
Debt to Total Capital		 53.53% 54.18% 53.94% 51.72% 53.28% 54.33% 52.21% 52.64% 53.55% 51.80% 52.32%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 53.53% 54.18% 53.94% 51.72% 53.28% 54.33% 52.21% 52.64% 53.55% 51.80% 52.32%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 46.47% 45.82% 46.06% 48.28% 46.72% 45.67% 47.79% 47.36% 46.45% 48.20% 47.68%
Debt to EBITDA		 16.99 15.65 13.19 10.29 9.97 10.29 4.76 5.07 6.05 8.17 0.00
Net Debt to EBITDA		 16.56 15.43 12.98 10.08 9.77 10.14 4.67 4.99 5.95 8.03 0.00
Long-Term Debt to EBITDA		 16.99 15.65 13.19 10.29 9.97 10.29 4.76 5.07 6.05 8.17 0.00
Debt to NOPAT		 14.93 14.48 11.67 9.20 9.05 9.75 6.05 6.82 9.04 6.65 0.00
Net Debt to NOPAT		 14.55 14.27 11.48 9.02 8.87 9.62 5.94 6.71 8.89 6.53 0.00
Long-Term Debt to NOPAT		 14.93 14.48 11.67 9.20 9.05 9.75 6.05 6.82 9.04 6.65 0.00
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -32 -195 -330 -197 -433 -446 -269 -3,040 -2,883 0.00 -2,753
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.11 0.11 0.07 0.08 0.08 0.14 0.24 0.21 0.19 0.17 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 3,446 3,509 3,468 3,312 3,386 3,277 3,109 3,084 2,919 2,783 2,785
Invested Capital Turnover		 0.11 0.11 0.07 0.08 0.08 0.14 0.25 0.44 0.39 0.17 0.00
Increase / (Decrease) in Invested Capital		 60 232 359 228 467 493 324 3,084 2,919 0.00 2,785
Enterprise Value (EV)		 3,894 3,861 3,750 3,658 3,599 3,432 3,173 2,950 2,821 2,563 0.00
Market Capitalization		 2,096 1,988 1,910 1,980 1,831 1,677 1,580 1,352 1,284 1,146 0.00
Book Value per Share		 $17.10 $17.23 $17.17 $17.25 $17.77 $17.09 $17.03 $17.87 $16.66 $16.57 $16.71
Tangible Book Value per Share		 $17.10 $17.23 $17.17 $17.25 $17.77 $17.09 $17.03 $17.87 $16.66 $16.57 $16.71
Total Capital		 3,446 3,509 3,468 3,312 3,386 3,277 3,109 3,084 2,919 2,783 2,785
Total Debt		 1,845 1,901 1,870 1,713 1,804 1,780 1,623 1,623 1,563 1,442 1,457
Total Long-Term Debt		 1,845 1,901 1,870 1,713 1,804 1,780 1,623 1,623 1,563 1,442 1,457
Net Debt		 1,798 1,874 1,841 1,678 1,768 1,755 1,593 1,597 1,537 1,416 1,427
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 0.28 -14 -12 -16 -13 -3.56 -10 -9.16 -17 -28 -2.18
Net Nonoperating Obligations (NNO)		 1,845 1,901 1,870 1,713 1,804 1,780 1,623 1,623 1,563 1,442 1,457
Total Depreciation and Amortization (D&A)		 -4.27 -3.87 -2.42 -4.43 -1.86 -3.00 -3.48 -2.86 -2.12 -4.86 -1.92
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.39 $0.55 $0.44 $0.51 $0.53 $0.59 $0.74 $0.63 $0.65 $0.59 $0.43
Adjusted Weighted Average Basic Shares Outstanding		 93.67M 92.04M 93.02M 92.73M 89.03M 85.13M 87.25M 84.22M 81.40M 78.20M 79.48M
Adjusted Diluted Earnings per Share		 $0.39 $0.55 $0.44 $0.51 $0.53 $0.59 $0.74 $0.63 $0.65 $0.59 $0.00
Adjusted Weighted Average Diluted Shares Outstanding		 93.67M 92.04M 93.02M 92.73M 89.03M 85.13M 87.25M 84.22M 81.40M 78.20M 0.00
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 93.96M 93.66M 93.32M 93.02M 92.72M 87.83M 87.55M 87.24M 81.75M 81.39M 80.98M
Normalized Net Operating Profit after Tax (NOPAT)		 27 17 39 33 30 56 49 46 37 106 23
Normalized NOPAT Margin		 30.45% 20.11% 37.72% 32.81% 31.46% 95.87% 43.32% 43.75% 24.20% 26.41% 36.21%
Pre Tax Income Margin		 30.95% 64.77% 41.28% 49.07% 50.61% 103.70% 57.28% 51.53% 28.20% 27.20% 55.01%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 95.83% 90.43% 90.33% 78.53% 74.45% 70.45% 47.45% 58.05% 71.99% 107.99% 0.00%
Augmented Payout Ratio		 95.83% 90.43% 90.33% 78.53% 74.45% 70.45% 47.45% 58.05% 71.99% 112.59% 0.00%

Frequently Asked Questions About Sixth Street Specialty Lending's Financials

When does Sixth Street Specialty Lending's fiscal year end?

According to the most recent income statement we have on file, Sixth Street Specialty Lending's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Sixth Street Specialty Lending's net income changed over the last 4 years?

Sixth Street Specialty Lending's net income appears to be on an upward trend, with a most recent value of $186.57 million in 2024, falling from -$89.39 million in 2020. The previous period was $222.02 million in 2023. See Sixth Street Specialty Lending's forecast for analyst expectations on what’s next for the company.

How has Sixth Street Specialty Lending revenue changed over the last 4 years?

Over the last 4 years, Sixth Street Specialty Lending's total revenue changed from $739 thousand in 2020 to $380.68 million in 2024, a change of 51,413.4%.

How much debt does Sixth Street Specialty Lending have?

Sixth Street Specialty Lending's total liabilities were at $1.97 billion at the end of 2024, a 6.9% increase from 2023, and a 54.8% increase since 2021.

How much cash does Sixth Street Specialty Lending have?

In the past 3 years, Sixth Street Specialty Lending's cash and equivalents has ranged from $15.97 million in 2021 to $27.33 million in 2024, and is currently $27.33 million as of their latest financial filing in 2024.

How has Sixth Street Specialty Lending's book value per share changed over the last 4 years?

Over the last 4 years, Sixth Street Specialty Lending's book value per share changed from 0.00 in 2020 to 17.23 in 2024, a change of 1,722.6%.


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This page (NYSE:TSLX) was last updated on 5/25/2025 by MarketBeat.com Staff
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