Sixth Street Specialty Lending (TSLX) Net Margin (2011 - 2026)
Sixth Street Specialty Lending (TSLX) reported Net Margin of 34.81% for Q3 2026, down 5.94 percentage points from 40.75% a year earlier and down 6.59 percentage points from the prior quarter.
Sixth Street Specialty Lending (TSLX) Net Margin (2011 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, Sixth Street Specialty Lending's Net Margin came in at 19.80%, down 21.44 percentage points year-over-year; for FY2025, it came in at 37.97%, down 0.69 percentage points from FY2024.
- By year, Net Margin came in at 38.66% in FY2024 (-12.02 pp) and 50.68% in FY2023.
- Five-year quarterly Net Margin spans a low of -27.86% in Q1 2026 and a high of 56.64% in Q3 2023.
- Year over year, Net Margin has now declined in each of the last four quarters, with an average year-over-year change of -10.02 percentage points over the last eight quarters.
- The high point for year-over-year Net Margin in five years was Q2 2025 (a gain of 12.39 percentage points); the low point was Q1 2026 (a drop of 59.63 percentage points).
- Per Business Quant data, the three quarters before Q3 2026 came in at 41.40% (Q2 2026), -27.86% (Q1 2026) and 27.68% (Q4 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Rocket Companies | 41.00 Bn | 29.82 Bn | - | 21.59% |
| 2 | Royalty Pharma | 39.88 Bn | 40.21 Bn | - | 20.96% |
| 3 | Orix | 36.75 Bn | 7.39 Bn | 13.83 Bn | 25.03% |
| 4 | Federal National Mortgage Association Fannie Mae | 25.40 Bn | -16,108.71 Bn | - | 12.38% |
| 5 | Royal Gold | 23.20 Bn | 22.41 Bn | 402.46 Mn | 48.93% |
| 6 | Affirm Holdings | 22.35 Bn | 15.40 Bn | - | 13.01% |
| 7 | Synchrony Financial | 22.29 Bn | -45.34 Bn | - | 17.58% |
| 8 | Annaly Capital Management | 14.69 Bn | 5.72 Bn | - | -121.54% |
| 9 | Ares Capital | 14.04 Bn | 11.79 Bn | - | 41.81% |
| 10 | Sixth Street Specialty Lending | 1.70 Bn | 1.42 Bn | - | 34.81% |
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 34.81% |
| Jun 30, 2026 | 41.40% |
| Mar 31, 2026 | -27.86% |
| Dec 31, 2025 | 27.68% |
| Sep 30, 2025 | 40.75% |
| Jun 30, 2025 | 51.30% |
| Mar 31, 2025 | 31.76% |
| Dec 31, 2024 | 41.22% |
| Sep 30, 2024 | 34.10% |
| Jun 30, 2024 | 38.91% |
| Mar 31, 2024 | 40.34% |
| Dec 31, 2023 | 42.80% |
| Sep 30, 2023 | 56.64% |
| Jun 30, 2023 | 49.34% |
| Mar 31, 2023 | 54.87% |
| Dec 31, 2022 | 2,992.37% |
| Sep 30, 2022 | 2,596.61% |
| Jun 30, 2022 | -1,195.84% |
| Mar 31, 2022 | 3,835.37% |
| Dec 31, 2021 | 3,850.64% |
Sixth Street Specialty Lending Net 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=net-margin&ticker=TSLX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-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=net-margin&ticker=TSLX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();