Blackstone Secured Lending Fund (BXSL) EBITDA Margin (2021 - 2026)
Blackstone Secured Lending Fund's (BXSL) quarterly EBITDA Margin came in at 54.97% in Q1 2026, up 220.0% YoY from 17.18% in Q1 2025, and up 13.33% on a QoQ basis from 48.51% in Q4 2025.
Blackstone Secured Lending Fund (BXSL) EBITDA Margin (2021 - 2026) Analysis & Trends
Blackstone Secured Lending Fund (BXSL) has 6 years of EBITDA Margin data on file, last reported at 54.97% in Q1 2026.
- Quarterly EBITDA Margin rose 220.0% year-over-year to 54.97% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 52.07% (down 31.0% YoY) and the FY2025 annual result came in at 52.15%, down 118.0% from the prior year.
- EBITDA Margin grew to 54.97% in Q1 2026, from 48.51% in the prior quarter.
- In the past five years, EBITDA Margin ranged from a high of 62.2% in Q4 2023 to a low of 48.51% in Q4 2025.
- A 5-year average of 55.87% and a median of 55.66% in 2024 frame the typical range for EBITDA Margin.
- Annual changes were most pronounced in 2023 — EBITDA Margin surged 550 bps — and 2024, when it slumped 1341 bps.
- Tracing BXSL's EBITDA Margin over 5 years: stood at 56.7% in 2022, then gained by 10 bps to 62.2% in 2023, then fell by 22 bps to 48.79% in 2024, then decreased by 1 bps to 48.51% in 2025, then rose by 13 bps to 54.97% in 2026.
- The last three EBITDA Margin figures came in at 54.97% (Q1 2026), 48.51% (Q4 2025), and 54.02% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 176.99 Bn | 163.12 Bn | - | 34.74% |
| 2 | Blackstone | 113.16 Bn | 110.65 Bn | - | 58.55% |
| 3 | Kkr | 96.05 Bn | -181.02 Bn | - | 35.61% |
| 4 | Brookfield | 92.54 Bn | 45.14 Bn | - | - |
| 5 | Brookfield Asset Management | 82.31 Bn | 80.81 Bn | - | 79.12% |
| 6 | Apollo Global Management | 77.14 Bn | 51.77 Bn | 10.54 Bn | 47.97% |
| 7 | State Street | 50.64 Bn | 50.64 Bn | - | 83.30% |
| 8 | Ameriprise Financial | 50.31 Bn | 39.27 Bn | 4.72 Bn | 24.36% |
| 9 | Northern Trust | 33.61 Bn | 33.61 Bn | - | 191.07% |
| 10 | Blackstone Secured Lending Fund | 5.75 Bn | 5.48 Bn | - | 55.61% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 55.61% |
| Mar 31, 2026 | 54.97% |
| Dec 31, 2025 | 48.51% |
| Sep 30, 2025 | 54.02% |
| Jun 30, 2025 | 51.02% |
| Mar 31, 2025 | 52.77% |
| Dec 31, 2024 | 48.79% |
| Sep 30, 2024 | 54.16% |
| Jun 30, 2024 | 53.97% |
| Mar 31, 2024 | 55.66% |
| Dec 31, 2023 | 62.20% |
| Sep 30, 2023 | 58.38% |
| Jun 30, 2023 | 59.06% |
| Mar 31, 2023 | 57.30% |
| Dec 31, 2022 | 56.70% |
| Sep 30, 2022 | 61.97% |
| Jun 30, 2022 | 60.20% |
| Mar 31, 2022 | 60.06% |
| Dec 31, 2021 | 56.33% |
| Sep 30, 2021 | 56.71% |