Blackstone Secured Lending Fund (BXSL) Net Margin (2021 - 2026)
Blackstone Secured Lending Fund posted quarterly Net Margin of 24.19% for Q1 2026, down 258.0% year-on-year from 15.31% in Q1 2025, and up 2.95% on a QoQ basis from 23.5% in Q4 2025.
Blackstone Secured Lending Fund (BXSL) has 6 years of Net Margin data on file, last reported at 24.19% in Q1 2026.
- For the quarter ending Q1 2026, Net Margin fell 258.0% year-over-year to 24.19%; the trailing twelve-month figure through Mar 2026 stood at 24.61% (down 278.0% YoY), and the FY2025 full-year result was 25.25%, down 350.0% from the prior year.
- Net Margin for Q1 2026 stood at 24.19%, up from 23.5% in the prior quarter.
- Across five years, Net Margin topped out at 36.28% in Q2 2023 and bottomed at 23.5% in Q4 2025.
- The 5-year median for Net Margin is 32.18% (2022), against an average of 29.95%.
- The widest annual swing landed in 2023, when Net Margin soared 409 bps; it then slumped 860 bps in 2024.
- A 5-year view of Net Margin shows it stood at 32.2% in 2022, then grew by 6 bps to 34.23% in 2023, then slipped by 25 bps to 25.63% in 2024, then retreated by 8 bps to 23.5% in 2025, then grew by 3 bps to 24.19% in 2026.
- The last three Net Margin figures came in at 24.19% (Q1 2026), 23.5% (Q4 2025), and 26.43% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 158.51 Bn | 148.89 Bn | - | 34.73% |
| 2 | Blackstone | 92.68 Bn | 91.63 Bn | - | 34.77% |
| 3 | Kkr | 84.94 Bn | 132.45 Bn | - | 8.45% |
| 4 | Brookfield Asset Management | 77.34 Bn | 77.68 Bn | - | 46.11% |
| 5 | Apollo Global Management | 76.27 Bn | 95.00 Bn | 5.04 Bn | -38.15% |
| 6 | State Street | 44.42 Bn | 18.75 Bn | - | 18.57% |
| 7 | Ameriprise Financial | 41.68 Bn | 41.55 Bn | 4.57 Bn | 18.73% |
| 8 | Northern Trust | 31.21 Bn | 31.21 Bn | - | 37.97% |
| 9 | Ares Management | 28.85 Bn | 32.22 Bn | - | 8.40% |
| 10 | Blackstone Secured Lending Fund | 5.56 Bn | 5.21 Bn | - | 24.19% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 24.19% |
| Dec 31, 2025 | 23.50% |
| Sep 30, 2025 | 26.43% |
| Jun 30, 2025 | 24.25% |
| Mar 31, 2025 | 26.77% |
| Dec 31, 2024 | 25.63% |
| Sep 30, 2024 | 28.47% |
| Jun 30, 2024 | 28.83% |
| Mar 31, 2024 | 32.60% |
| Dec 31, 2023 | 34.23% |
| Sep 30, 2023 | 33.64% |
| Jun 30, 2023 | 36.28% |
| Mar 31, 2023 | 32.43% |
| Dec 31, 2022 | 32.20% |
| Sep 30, 2022 | 33.86% |
| Jun 30, 2022 | 32.18% |
| Mar 31, 2022 | 33.61% |
| Dec 31, 2021 | 40.00% |
| Sep 30, 2021 | 36.93% |