Blackstone Secured Lending Fund (BXSL) EV to FCF (2021 - 2026)
Blackstone Secured Lending Fund's (BXSL) quarterly EV to FCF came in at 9.36 in Q2 2026, up 130.42% on a YoY basis from 4.06 in Q2 2025, and down 54.72% quarter-over-quarter from 20.67 in Q1 2026.
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Blackstone Secured Lending Fund (BXSL) EV to FCF (2021 - 2026) Analysis & Trends
Blackstone Secured Lending Fund (BXSL) has reported EV to FCF for 6 consecutive years, with 9.36 the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, EV to FCF rose 130.42% year-over-year to 9.36; the trailing twelve-month figure through Jun 2026 stood at 35.48 (up 735.38% YoY), and the FY2025 full-year result was 12.69, down 361.78% from the prior year.
- EV to FCF retreated to 9.36 in Q2 2026 per BXSL's latest filing, from 20.67 in the prior quarter.
- Across five years, EV to FCF topped out at 109.47 in Q2 2022 and bottomed at 246.78 in Q1 2022.
- Historically, EV to FCF has averaged 12.9 across 5 years, with a median of 7.92 in 2024.
- The sharpest annual moves came in 2022 and 2023: EV to FCF jumped 605.44% in 2022, then slumped 799.79% in 2023.
- Over 5 years, EV to FCF stood at 20.58 in 2022, then sank by 289.18% to 38.92 in 2023, then surged by 80.28% to 7.68 in 2024, then slumped by 229.95% to 25.33 in 2025, then soared by 136.94% to 9.36 in 2026.
- According to Business Quant data, EV to FCF over the past three periods registered 9.36, 20.67, and 25.33 for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Ares Capital | 14.12 Bn | 13.73 Bn | - |
| 2 | Blackstone Secured Lending Fund | 5.69 Bn | 5.42 Bn | - |
| 3 | Blue Owl Capital | 5.52 Bn | 5.28 Bn | - |
| 4 | Main Street Capital | 5.26 Bn | 5.20 Bn | - |
| 5 | Blue Owl Technology Finance | 5.05 Bn | 4.84 Bn | - |
| 6 | Hercules Capital | 4.64 Bn | 4.59 Bn | - |
| 7 | FS KKR Capital | 3.37 Bn | 3.27 Bn | - |
| 8 | Golub Capital Bdc | 3.34 Bn | 3.30 Bn | - |
| 9 | PennantPark Floating Rate Capital | 2.48 Bn | -129.09 Mn | - |
| 10 | MidCap Financial Investment | 2.07 Bn | 2.03 Bn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 9.36 |
| Mar 31, 2026 | 20.67 |
| Dec 31, 2025 | -25.33 |
| Sep 30, 2025 | -13.34 |
| Jun 30, 2025 | -30.76 |
| Mar 31, 2025 | 15.09 |
| Dec 31, 2024 | -7.68 |
| Sep 30, 2024 | -11.45 |
| Jun 30, 2024 | -8.15 |
| Mar 31, 2024 | -14.74 |
| Dec 31, 2023 | -38.92 |
| Sep 30, 2023 | -50.89 |
| Jun 30, 2023 | 8.40 |
| Mar 31, 2023 | 25.02 |
| Dec 31, 2022 | 20.58 |
| Sep 30, 2022 | 7.27 |
| Jun 30, 2022 | 109.47 |
| Mar 31, 2022 | -246.78 |
| Dec 31, 2021 | -4.07 |