Sixth Street Specialty Lending (TSLX) FCF Margin (2011 - 2026)
Sixth Street Specialty Lending's FCF Margin was -98.43% in Q3 2026, down 84.15 percentage points from -14.28% a year earlier and down 168.29 percentage points from the prior quarter.
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Analysis
Sixth Street Specialty Lending (TSLX) FCF Margin (2011 - 2026) Analysis & Trends
On a trailing twelve-month basis, Sixth Street Specialty Lending's FCF Margin was 5.44% through Sep 30, 2026, down 58.45 percentage points year-over-year; for FY2025, it came in at 89.43%, up 98.85 percentage points from FY2024.
- In earlier years, FCF Margin was -9.43% in FY2024 (+44.62 pp) and -54.05% in FY2023.
- The Q3 2026 figure marks the lowest quarterly FCF Margin since Q2 2023.
- Compared with a year earlier, FCF Margin has declined for three straight quarters, with an average year-over-year change of +12.85 percentage points over the last eight quarters.
- The best year-over-year quarter for FCF Margin over five years was Q2 2024 (a gain of 207.92 percentage points); the worst was Q1 2026 (a drop of 153.86 percentage points).
- Per Business Quant data, TSLX's FCF Margin in the three quarters before Q3 2026 was 69.86% (Q2 2026), -25.01% (Q1 2026) and 68.45% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Rocket Companies | 41.00 Bn | 29.82 Bn | - | 56.70% |
| 2 | Royalty Pharma | 39.88 Bn | 40.21 Bn | - | 99.42% |
| 3 | Orix | 36.75 Bn | 7.39 Bn | 13.83 Bn | - |
| 4 | Federal National Mortgage Association Fannie Mae | 25.40 Bn | -16,108.71 Bn | - | 10.46% |
| 5 | Royal Gold | 23.20 Bn | 22.41 Bn | 402.46 Mn | 73.88% |
| 6 | Affirm Holdings | 22.35 Bn | 15.40 Bn | - | 11.45% |
| 7 | Synchrony Financial | 22.29 Bn | -45.34 Bn | - | 50.83% |
| 8 | Annaly Capital Management | 14.69 Bn | 5.72 Bn | - | 332.74% |
| 9 | Ares Capital | 14.04 Bn | 11.79 Bn | - | 137.88% |
| 10 | Sixth Street Specialty Lending | 1.70 Bn | 1.42 Bn | - | -98.43% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | -98.43% |
| Jun 30, 2026 | 69.86% |
| Mar 31, 2026 | -25.01% |
| Dec 31, 2025 | 68.45% |
| Sep 30, 2025 | -14.28% |
| Jun 30, 2025 | 167.98% |
| Mar 31, 2025 | 128.85% |
| Dec 31, 2024 | -24.84% |
| Sep 30, 2024 | -62.48% |
| Jun 30, 2024 | 102.83% |
| Mar 31, 2024 | -55.64% |
| Dec 31, 2023 | -72.67% |
| Sep 30, 2023 | 32.04% |
| Jun 30, 2023 | -105.09% |
| Mar 31, 2023 | -76.17% |
| Dec 31, 2022 | 3,511.64% |
| Sep 30, 2022 | -18,408.45% |
| Jun 30, 2022 | -10,245.45% |
| Mar 31, 2022 | 7,612.57% |
| Dec 31, 2021 | -6,764.18% |
API Access
Sixth Street Specialty Lending FCF Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=fcf-margin&ticker=TSLX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "fcf-margin", "ticker": "TSLX", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=fcf-margin&ticker=TSLX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();