Blackstone Secured Lending Fund (BXSL) Cash from Operations (2021 - 2026)
Blackstone Secured Lending Fund's (BXSL) quarterly Cash from Operations came in at $561.0 million in Q2 2026, up 353.76% on a YoY basis from $123.6 million in Q2 2025, and up 125.05% quarter-over-quarter from $249.3 million in Q1 2026.
Analysis
Blackstone Secured Lending Fund (BXSL) Cash from Operations (2021 - 2026) Analysis & Trends
Blackstone Secured Lending Fund (BXSL) has reported Cash from Operations for 6 consecutive years, with $561.0 million the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Cash from Operations rose 353.76% year-over-year to $561.0 million; the trailing twelve-month figure through Jun 2026 stood at $148.0 million (up 112.15% YoY), and the FY2025 full-year result was -$458.7 million, up 81.84% from the prior year.
- Cash from Operations grew to $561.0 million in Q2 2026 per BXSL's latest filing, from $249.3 million in the prior quarter.
- Across five years, Cash from Operations topped out at $561.0 million in Q2 2026 and bottomed at -$903.9 million in Q4 2024.
- Historically, Cash from Operations has averaged -$57.9 million across 5 years, with a median of -$54.8 million in 2022.
- The sharpest annual moves came in 2023 and 2024: Cash from Operations jumped 1334.72% in 2023, then slumped 606.45% in 2024.
- Over 5 years, Cash from Operations stood at $167.8 million in 2022, then sank by 176.24% to -$127.9 million in 2023, then plunged by 606.45% to -$903.9 million in 2024, then jumped by 74.59% to -$229.7 million in 2025, then jumped by 344.25% to $561.0 million in 2026.
- According to Business Quant data, Cash from Operations over the past three periods registered $561.0 million, $249.3 million, and -$229.7 million for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cash from Operations (Qtr) |
|---|---|---|---|---|---|
| 1 | Ares Capital | 14.12 Bn | 13.74 Bn | - | 336.00 Mn |
| 2 | Blackstone Secured Lending Fund | 5.63 Bn | 5.37 Bn | - | 560.96 Mn |
| 3 | Blue Owl Capital | 5.49 Bn | 5.25 Bn | - | 547.31 Mn |
| 4 | Main Street Capital | 5.20 Bn | 5.15 Bn | - | 116.57 Mn |
| 5 | Blue Owl Technology Finance | 4.94 Bn | 4.73 Bn | - | -316.70 Mn |
| 6 | Hercules Capital | 4.66 Bn | 4.61 Bn | - | 297.92 Mn |
| 7 | FS KKR Capital | 3.33 Bn | 3.22 Bn | - | 776.00 Mn |
| 8 | Golub Capital Bdc | 3.31 Bn | 3.26 Bn | - | 192.74 Mn |
| 9 | PennantPark Floating Rate Capital | 2.49 Bn | -118.08 Mn | - | 103.26 Mn |
| 10 | MidCap Financial Investment | 2.07 Bn | 2.03 Bn | - | 189.35 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 560.96 Mn |
| Mar 31, 2026 | 249.26 Mn |
| Dec 31, 2025 | -229.66 Mn |
| Sep 30, 2025 | -432.60 Mn |
| Jun 30, 2025 | -221.06 Mn |
| Mar 31, 2025 | 424.66 Mn |
| Dec 31, 2024 | -903.87 Mn |
| Sep 30, 2024 | -517.72 Mn |
| Jun 30, 2024 | -709.18 Mn |
| Mar 31, 2024 | -395.53 Mn |
| Dec 31, 2023 | -127.95 Mn |
| Sep 30, 2023 | -90.38 Mn |
| Jun 30, 2023 | 521.28 Mn |
| Mar 31, 2023 | 155.86 Mn |
| Dec 31, 2022 | 167.82 Mn |
| Sep 30, 2022 | 487.97 Mn |
| Jun 30, 2022 | 36.33 Mn |
| Mar 31, 2022 | -19.17 Mn |
| Dec 31, 2021 | -1.39 Bn |