Blackstone Secured Lending Fund (BXSL) FCF Margin (2021 - 2026)
Blackstone Secured Lending Fund's (BXSL) quarterly FCF Margin came in at 175.04% in Q2 2026, up 23916.0% on a YoY basis from N/an in Q2 2025, and up 128.57% quarter-over-quarter from 76.58% in Q1 2026.
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Blackstone Secured Lending Fund (BXSL) FCF Margin (2021 - 2026) Analysis & Trends
Blackstone Secured Lending Fund (BXSL) has reported FCF Margin for 6 consecutive years, with 175.04% the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, FCF Margin rose 23916.0% year-over-year to 175.04%; the trailing twelve-month figure through Jun 2026 stood at 10.86% (up 9796.0% YoY), and the FY2025 full-year result was 32.32%, up 15807.0% from the prior year.
- FCF Margin rose to 175.04% in Q2 2026 per BXSL's latest filing, from 76.58% in the prior quarter.
- Across five years, FCF Margin topped out at 215.16% in Q3 2022 and bottomed at 256.3% in Q4 2024.
- Historically, FCF Margin has averaged 9.84% across 5 years, with a median of 21.08% in 2022.
- The sharpest annual moves came in 2022 and 2024: FCF Margin soared 79002 bps in 2022, then sank 39636 bps in 2024.
- Over 5 years, FCF Margin stood at 66.88% in 2022, then slumped by 163 bps to 42.05% in 2023, then sank by 509 bps to 256.3% in 2024, then soared by 75 bps to 64.18% in 2025, then soared by 373 bps to 175.04% in 2026.
- According to Business Quant data, FCF Margin over the past three periods registered 175.04%, 76.58%, and 64.18% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Ares Capital | 14.12 Bn | 13.73 Bn | - | 43.75% |
| 2 | Blackstone Secured Lending Fund | 5.69 Bn | 5.42 Bn | - | 175.04% |
| 3 | Blue Owl Capital | 5.52 Bn | 5.28 Bn | - | 136.37% |
| 4 | Main Street Capital | 5.26 Bn | 5.20 Bn | - | 77.93% |
| 5 | Blue Owl Technology Finance | 5.05 Bn | 4.84 Bn | - | -93.69% |
| 6 | Hercules Capital | 4.64 Bn | 4.59 Bn | - | 199.79% |
| 7 | FS KKR Capital | 3.37 Bn | 3.27 Bn | - | 267.59% |
| 8 | Golub Capital Bdc | 3.34 Bn | 3.30 Bn | - | 102.67% |
| 9 | PennantPark Floating Rate Capital | 2.48 Bn | -129.09 Mn | - | 156.24% |
| 10 | MidCap Financial Investment | 2.07 Bn | 2.03 Bn | - | 277.53% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 175.04% |
| Mar 31, 2026 | 76.58% |
| Dec 31, 2025 | -64.18% |
| Sep 30, 2025 | -120.65% |
| Jun 30, 2025 | -64.11% |
| Mar 31, 2025 | 118.70% |
| Dec 31, 2024 | -256.30% |
| Sep 30, 2024 | -150.84% |
| Jun 30, 2024 | -216.83% |
| Mar 31, 2024 | -130.13% |
| Dec 31, 2023 | -42.05% |
| Sep 30, 2023 | -31.83% |
| Jun 30, 2023 | 179.53% |
| Mar 31, 2023 | 58.83% |
| Dec 31, 2022 | 66.88% |
| Sep 30, 2022 | 215.16% |
| Jun 30, 2022 | 19.43% |
| Mar 31, 2022 | -10.33% |
| Dec 31, 2021 | -723.14% |