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Blackstone Secured Lending Fund (BXSL) Net Margin (2021 - 2026)

Blackstone Secured Lending Fund filings provide 5 years of Net Margin readings, the most recent being 23.5% for Q4 2025.

  • On a quarterly basis, Net Margin fell 213.0% to 23.5% in Q4 2025 year-over-year; TTM through Dec 2025 was 25.25%, a 350.0% decrease, with the full-year FY2025 number at 25.25%, down 350.0% from a year prior.
  • Net Margin hit 23.5% in Q4 2025 for Blackstone Secured Lending Fund, down from 26.44% in the prior quarter.
  • In the past five years, Net Margin ranged from a high of 36.93% in Q3 2021 to a low of 23.5% in Q4 2025.
  • Median Net Margin over the past 5 years was 32.31% (2022), compared with a mean of 30.99%.
  • Biggest five-year swings in Net Margin: skyrocketed 649bps in 2023 and later plummeted -861bps in 2024.
  • Blackstone Secured Lending Fund's Net Margin stood at 35.46% in 2021, then dropped by -22bps to 27.75% in 2022, then rose by 23bps to 34.23% in 2023, then fell by -25bps to 25.62% in 2024, then dropped by -8bps to 23.5% in 2025.
  • The last three reported values for Net Margin were 23.5% (Q4 2025), 26.44% (Q3 2025), and 24.25% (Q2 2025) per Business Quant data.