Blackstone Secured Lending Fund

	Dec-25	Dec-24	Dec-23	Dec-22	Dec-21	Dec-20	Dec-19
Total revenue	1.27	1.05	0.87	0.39	0.47	0.39	0.15
Cost of revenue	0.27	0.32	0.26	0.15	0.10	0.07	0.04
Gross profit	1.00	0.73	0.62	0.39	0.47	0.32	0.11
Total operating expenses +	0.03	0.02	-0.01	-0.02	0.01	0.08	0.04
Selling, general and administrative	0.01	0.01	0.02	0.01	0.01	0.08	0.04
Research and development			0.00	0.00	0.00	0.00	0.00
Other operating expenses	0.02	0.01	-0.03	-0.03	0.00	0.00	0.00
Operating income	0.96	0.71	0.63	0.60	0.46	0.24	0.07
Non-operating income (net)	-0.39	0.00	0.00	-0.20	0.00	-0.02	0.03
Income before tax	0.57	0.71	0.63	0.41	0.46	0.22	0.11
Income tax expense	0.00	0.01	0.02	0.00	0.00	0.00	0.00
Net income	0.56	0.69	0.61	0.40	0.46	0.22	0.11

Show Quarterly Income Statement

	Mar-26	Dec-25	Sep-25	Jun-25	Mar-25	Dec-24	Sep-24	Jun-24	Mar-24	Dec-23	Sep-23	Jun-23	Mar-23	Dec-22	Sep-22	Jun-22	Mar-22	Dec-21	Sep-21	Jun-21	Mar-21	Dec-20	Sep-20	Jun-20	Mar-20	Dec-19	Sep-19	Jun-19	Mar-19	Dec-18
Total revenue	0.33	0.22	0.24	0.25	0.25	0.26	0.25	0.28	0.26	0.23	0.24	0.21	0.20	0.18	0.14	0.12	0.14	0.16	0.12	0.12	0.12	0.13	0.18	0.23	-0.30	0.05	0.02	0.03	0.02	0.00
Cost of revenue	0.04	0.01	0.09	0.08	0.09	0.10	0.08	0.07	0.06	0.07	0.06	0.06	0.06	0.06	0.05	0.04	0.04	0.04	0.03	0.03	0.02	0.02	0.01	0.01	0.02	0.01	0.01	0.01	0.00	0.00
Gross profit	0.29	0.51	0.15	0.17	0.16	0.16	0.16	0.21	0.20	0.16	0.17	0.15	0.14	0.12	0.09	0.07	0.10	0.12	0.13	0.11	0.11	0.12	0.08	0.07	0.06	0.05	0.03	0.02	0.01	0.00
Total operating expenses +	0.16	0.00	0.01	0.01	0.01	0.00	0.01	0.01	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-0.01	0.02	0.02	0.02	0.11	0.17	-0.37	0.00	-0.01	0.01	0.00	0.00
Selling, general and administrative	0.00	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Research and development
Other operating expenses	0.16	0.00	0.01	0.01	0.01	0.00	0.00	0.00	0.01	0.00	-0.01	-0.01	-0.01	-0.01	-0.01	-0.01	-0.01	0.00	-0.01	0.02	0.02	0.02	0.11	0.17	-0.37	0.00	-0.01	0.00	0.00	0.00
Operating income	0.13	0.23	0.14	0.16	0.15	0.17	0.16	0.20	0.19	0.16	0.18	0.15	0.14	0.12	0.10	0.08	0.11	0.12	0.09	0.07	0.08	0.09	0.06	0.05	0.05	0.03	0.02	0.01	0.01	0.00
Non-operating income (net)	-0.10	-0.10	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.02	0.05	0.04	0.04	0.12	0.18	-0.36	0.02	0.00	0.01	0.01	0.00
Income before tax	0.02	0.13	0.14	0.16	0.15	0.17	0.16	0.20	0.19	0.16	0.18	0.15	0.14	0.12	0.10	0.08	0.11	0.12	0.11	0.12	0.11	0.12	0.18	0.23	-0.31	0.05	0.02	0.02	0.01	0.00
Income tax expense	0.00	-0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.38	0.13	-0.05	0.00	0.00	0.00	0.05	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net income	0.03	0.13	0.13	0.16	0.15	0.16	0.15	0.20	0.18	0.16	0.17	0.14	0.14	0.12	0.10	0.08	0.11	0.12	0.11	0.12	0.11	0.12	0.18	0.23	-0.31	0.05	0.02	0.02	0.01	0.00

about 23 hours ago

Ask a follow up

	Dec-25	Dec-24	Dec-23	Dec-22	Dec-21	Dec-20	Dec-19	Dec-18
Total cash and short-term investments +	0.29	0.23	0.15	9.69	9.92	0.22	0.07	0.01
Cash and cash equivalents	0.29	0.23	0.15	0.13	0.10	0.22	0.07	0.01
Short-term investments		0.00		9.56	9.82
Accounts receivable, net	0.11	0.12	0.09	0.15	0.21	0.14	0.03	0.02
Inventories								-0.57
Other current assets			-0.25	0.00	-0.31	-0.36	-0.09
Total current assets	0.40	0.35	0.25	0.28	0.31	0.36	0.09	0.03
Total non-current assets +	14.25	13.12	9.88	9.62	9.86	5.59	3.10	0.55
Property, plant and equipment, net
Goodwill
Intangible assets
Long-term investments	14.23	13.10	9.87	9.62	9.86	5.59	3.09	0.55
Other non-current assets
Total assets	14.66	13.47	10.13	9.91	10.18	5.95	3.19	0.57

Total current liabilities +	0.31	0.24	0.01	0.42	0.23	1.50	1.52	0.34
Accounts payable	0.24	0.24	0.01	0.02	0.04	0.15	0.04	0.15
Short-term debt			4.91	5.53	5.50	1.31	1.45	0.19
Current portion of long-term debt						1.31	1.45	0.19
Deferred revenue
Other current liabilities	0.07	-0.24	-0.01	-0.02	0.20	0.03	1.47	0.01
Total non-current liabilities +	8.10	7.15	4.91	0.16	5.50	1.19	1.40	0.00
Long-term debt						1.19
Capital lease obligations
Other non-current liabilities
Total liabilities	8.41	7.40	5.18	5.75	5.73	2.68	1.52	0.34

Total stockholders' equity +	6.25	6.08	4.95	4.16	4.45	3.27	1.67	0.24
Common stock and paid-in capital	6.05	5.75	4.70	4.03	4.25	3.23	1.64	0.24
Retained earnings	0.20	0.33	0.25	0.13	0.20	0.04	0.04	0.00
Common shares outstanding	229	201	168	166	145	95	34	95

Show Quarterly Balance Sheet

	Mar-26	Dec-25	Sep-25	Jun-25	Mar-25	Dec-24	Sep-24	Jun-24	Mar-24	Dec-23	Sep-23	Jun-23	Mar-23	Dec-22	Sep-22	Jun-22	Mar-22	Dec-21	Sep-21	Jun-21	Mar-21	Dec-20	Sep-20	Jun-20	Mar-20	Dec-19	Sep-19	Jun-19	Mar-19	Dec-18
Total cash and short-term investments +	0.35	0.29	0.25	0.19	0.90	0.23	0.19	0.29	0.15	0.15	0.15	9.44	9.73	9.69	9.76	10.22	10.13	9.92	0.26	0.18	0.29	0.22	0.08	0.07	0.11	0.07	0.14	0.04	0.02	0.01
Cash and cash equivalents	0.35	0.29	0.25	0.19	0.90	0.23	0.19	0.29	0.15	0.15	0.15	0.15	0.10	0.13	0.13	0.17	0.14	0.10	0.26	0.18	0.29	0.22	0.08	0.07	0.11	0.07	0.14	0.04	0.02	0.01
Short-term investments								0.00				9.29	9.63	9.56	9.63	10.05	9.99	9.82
Accounts receivable, net	0.10	0.11	0.11	0.14	0.13	0.12	0.17	0.17	0.10	0.09	0.14	0.12	0.10	0.15	0.11	0.11	0.15	0.21	0.33	0.10	0.10	0.14	0.04	0.05	0.04	0.03	0.02	0.08	0.06	0.00
Other current assets						-0.12	-0.17	-0.46	-0.25	-0.25	-0.29	-0.27	-0.21	-0.28	-0.24	-0.04		-0.14
Total current assets	0.45	0.40	0.36	0.33	1.02	0.35	0.36	0.46	0.25	0.25	0.29	0.27	0.21	0.28	0.24	0.28	0.29	0.31	0.59	0.29	0.39	0.36	0.12	0.12	0.14	0.09	0.16	0.12	0.08	0.01
Total non-current assets +	13.98	14.26	13.87	13.38	12.95	13.12	12.01	11.31	10.45	9.88	9.51	9.30	9.64	9.62	9.67	10.08	10.02	9.86	8.23	7.37	6.11	5.59	4.89	4.04	3.64	3.10	2.03	1.52	0.94	0.57
Property, plant and equipment, net
Goodwill
Intangible assets
Long-term investments	13.96	14.23	13.85	13.27	12.86	13.10	11.99	11.30	10.44	9.87	9.50	9.29	9.63	9.62	9.67	10.08	10.02	9.86	8.22	7.36	6.11	5.59	4.88
Other non-current assets
Total assets	14.44	14.66	14.26	13.71	13.97	13.47	12.37	11.77	10.71	10.13	9.80	9.57	9.85	9.91	9.93	10.38	10.33	10.18	8.82	7.65	6.50	5.95	5.01	4.17	3.78	3.19	2.19	1.65	1.02	0.57

Total current liabilities +	0.30	0.31	0.31	0.24	0.26	0.24	0.19	0.20	0.20	0.52	0.17	0.18	0.14	0.42	0.47	0.47	0.26	0.42	1.53	2.03	1.60	1.50	2.08	1.89	2.01	1.52	0.81	0.68	0.38
Accounts payable	0.25	0.24	0.24	0.24	0.26	0.24	0.19	0.20	0.20	0.01	0.17	0.18	0.14	0.02	0.02	0.01	0.05	0.17	0.02	0.00	0.08	0.15	0.03	0.09	0.14	0.04		0.00	0.09
Short-term debt																		5.50	1.30	1.88	1.37	1.31	1.94	1.71	1.79	1.45	0.78	0.65	0.28
Current portion of long-term debt																			1.30	1.88	1.37	1.31	1.94
Deferred revenue
Other current liabilities	0.04	0.07	0.07			-0.24	-0.19	-0.01	-0.02	-0.01	0.23	0.22	-0.01	-0.02	-0.02	-0.01	0.21	-0.17	1.51	2.03	1.53	0.03	2.04	0.09	1.87	1.47	0.04	0.03	0.01
Total non-current liabilities +	8.34	8.10	7.99	7.18	7.47	7.15	6.48	6.17	5.35	5.18	5.03	5.04	5.52	0.16	0.17	5.79	5.64	5.50	3.15	1.88	1.58	1.19	0.39			1.45		0.00	0.00
Long-term debt												4.98	5.45		5.51				3.15	1.88	1.58	1.19	0.39
Capital lease obligations
Other non-current liabilities												0.18	0.15		0.18
Total liabilities	8.34	8.41	7.99	7.42	7.73	7.40	6.67	6.38	5.55	5.18	5.20	5.22	5.66	5.75	5.76	6.03	5.90	5.73	4.68	3.91	3.18	2.68	2.47	1.89	2.01	1.52	0.81	0.68	0.38	0.34

Total stockholders' equity +	6.10	6.25	6.27	6.29	6.24	6.08	5.70	5.39	5.16	4.95	4.60	4.35	4.19	4.16	4.17	4.36	4.43	4.45	4.14	3.74	3.33	3.27	2.54	2.28	1.77	1.67	1.38	0.96	0.63	0.24
Common stock and paid-in capital	6.06	6.05	6.04	6.01	5.94	5.75	5.38	5.07	4.87	4.70	4.38	4.17	4.04	4.03	4.07	4.22	4.26	4.25	3.97	3.61	3.24	3.23	2.54	2.41	2.08	1.64	1.36	0.95	0.63	0.24
Retained earnings	0.04	0.20	0.23	0.28	0.30	0.33	0.32	0.33	0.29	0.25	0.22	0.18	0.15	0.13	0.10	0.13	0.18	0.20	0.17	0.13	0.08	0.04	0.00	-0.13	-0.31	0.04	0.01	0.01	0.00	0.00
Common shares outstanding	232	229	230	228	227	217	203	194	191	168	170	161	161	160	165	169	170	169	168	95	95	99	101	95	76	50	95	95	95	7

about 23 hours ago

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	Dec-25	Dec-24	Dec-23	Dec-22	Dec-21	Dec-20	Dec-19	Dec-18
Operating cash flow +	0.58	-2.53	0.46	0.67	-3.83	-2.32	-2.56	-0.35
Net income
Depreciation, depletion and amortization	0.10	-0.03	0.00	0.08	-0.17	-0.03	-0.04	0.00
Stock-based compensation
Change in inventory						0.12	0.00
Other working capital changes	0.49	-2.50	0.46	0.59	-3.66	-2.40	-2.52	-0.35
Cash flow from investing +	-1.04			0.21	-4.09	-2.45	-2.50	-0.43
Capital expenditures	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Others incl. marketable securities changes	-1.04	0.00	0.00	0.21	-4.09	-2.45	-2.50	-0.43
Cash flow from financing +	0.53	2.60	-0.43	-0.65	3.71	2.47	2.62	0.36
Dividend payout	-0.68	-0.58	-0.44	-0.42	-0.25	-0.15	-0.04	0.00
Common stock repurchases			-0.01	-0.26	0.00	2.99	2.26
Net Debt Issuance	1.21	3.19	0.01	0.04	3.97	-0.37	0.39	0.36

Change in cash	0.07	0.08	0.03	0.24	-4.21	-2.30	-2.45	-0.42

Show Quarterly Cash Flow

	Mar-26	Dec-25	Sep-25	Jun-25	Mar-25	Dec-24	Sep-24	Jun-24	Mar-24	Dec-23	Sep-23	Jun-23	Mar-23	Dec-22	Sep-22	Jun-22	Mar-22	Dec-21	Sep-21	Jun-21	Mar-21	Dec-20	Sep-20	Jun-20	Mar-20	Dec-19	Sep-19	Jun-19	Mar-19
Operating cash flow +	0.12	0.18	-0.43	-0.22	0.42	-0.90	-0.52	-0.71	-0.40	-0.13	-0.09	0.52	0.16	0.17	0.49	0.04	-0.02	-1.39	-0.92	-1.22	-0.30	-0.66	-0.71	-0.23	-0.72	-1.00	-0.48	-0.63	-0.44
Net income
Depreciation, depletion and amortization	0.15	0.00	0.05					0.00	-0.02	-0.01	0.00	0.00	0.00	0.07	0.06	0.01	-0.01	-0.10	0.00	0.00	-0.05	-0.03	0.00	0.00	0.35	-0.04	0.00	0.00	-0.01
Stock-based compensation
Change in inventory
Other working capital changes	-0.02	0.18	-0.48	-0.22	0.42	-0.90	-0.52	-0.71	-0.37	-0.12	-0.09	0.52	0.15	0.10	0.43	0.03	-0.01	-1.28	-0.93	-1.22	-0.25	-0.63	-0.71	-0.23	-1.07	-0.96	-0.49	-0.63	-0.43
Cash flow from investing +	0.13	-0.41	-0.86	-0.06	0.29	-1.16	-0.66						0.01				-0.14				-0.46				-0.89				-0.38
Capital expenditures	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Others incl. marketable securities changes	0.13	-0.41	-0.86	-0.06	0.29	-1.16	-0.66	0.00	0.00	0.00	0.00	0.00	0.01	0.00	0.00	0.00	-0.14	0.00	0.00	0.00	-0.46	0.00	0.00	0.00	-0.89	0.00	0.00	0.00	-0.38
Cash flow from financing +	-0.18	0.27	0.42	-0.47	0.31	0.94	0.42	0.85	0.39	0.15	0.09	-0.49	-0.19	-0.17	-0.53	-0.01	0.06	1.23	1.00	1.11	0.37	0.80	0.71	0.20	0.76	0.93	0.58	0.65	0.46
Dividend payout	-0.17	-0.17	-0.17	-0.17	-0.17	-0.16	-0.15	-0.14	-0.14	-0.13	-0.11	-0.11	-0.09	-0.12	-0.11	-0.12	-0.08	-0.06	-0.06	-0.06	-0.08	-0.04	-0.04	-0.03	-0.02	-0.02	-0.01	-0.01
Common stock repurchases										0.12	0.00	0.12		-0.05	-0.16	-0.05		1.40	2.13	1.22	1.01	1.09	1.10			1.02	0.28
Net Debt Issuance	-0.01	0.44	0.59	-0.30	0.48	1.09	0.57	1.00	0.53	0.16	0.20	-0.50	-0.10	-0.01	-0.25	0.16	0.14	-0.10	-1.07	-0.06	-0.56	-0.24	-0.35	0.23	0.79	-0.07	0.31	0.66	0.46

Change in cash	0.07	0.04	-0.87	-0.75	1.02	-1.13	-0.75	0.14	-0.01	0.02	0.00	0.03	-0.02	0.00	-0.04	0.03	-0.11	-0.16	0.08	-0.11	-0.39	0.14	0.00	-0.03	-0.85	-0.07	0.09	0.02	-0.37

about 23 hours ago

Ask a follow up

Blackstone Secured Lending Fund

Income Statement - Blackstone Secured Lending Fund (BXSL)

Income Statement - Blackstone Secured Lending Fund (BXSL)

Balance Sheet - Blackstone Secured Lending Fund (BXSL)

Balance Sheet - Blackstone Secured Lending Fund (BXSL)

Cash Flow - Blackstone Secured Lending Fund (BXSL)

Cash Flow - Blackstone Secured Lending Fund (BXSL)