Sixth Street Specialty Lending (TSLX) Operating Expenses (2021 - 2026)
Sixth Street Specialty Lending (TSLX) posted Operating Expenses of $52.7 million for Q1 2026, down 7.19% sequentially from $56.7 million in Q4 2025, and down 7.63% YoY from $57.0 million in Q1 2025.
Sixth Street Specialty Lending (TSLX) Operating Expenses (2021 - 2026) Analysis & Trends
Sixth Street Specialty Lending has reported Operating Expenses for 6 years, with the latest figure at $52.7 million in Q1 2026.
- Quarterly Operating Expenses fell 7.63% year-over-year to $52.7 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $230.3 million (down 8.43% YoY) and the FY2025 annual result came in at $235.0 million, down 9.61% from the prior year.
- Operating Expenses declined to $52.7 million in Q1 2026 per TSLX's latest filing, from $56.7 million in the prior quarter.
- Over five years, Operating Expenses peaked at $65.4 million in Q2 2024 and troughed at $22.3 million in Q2 2022.
- A 5-year average of $54.6 million and a median of $57.7 million in 2025 frame the typical range for Operating Expenses.
- The sharpest annual moves came in 2023 and 2025: Operating Expenses surged 160.74% in 2023, then decreased 13.22% in 2025.
- Over 5 years, Operating Expenses stood at $46.6 million in 2022, then soared by 38.67% to $64.6 million in 2023, then gained by 1.2% to $65.4 million in 2024, then slipped by 13.22% to $56.7 million in 2025, then fell by 7.19% to $52.7 million in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $52.7 million, $56.7 million, and $57.7 million for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 179.54 Bn | 165.67 Bn | - | 4.62 Bn |
| 2 | Blackstone | 114.83 Bn | 112.32 Bn | - | 2.38 Bn |
| 3 | Kkr | 97.26 Bn | -179.81 Bn | - | 5.41 Bn |
| 4 | Brookfield | 93.07 Bn | 45.66 Bn | - | 14.94 Bn |
| 5 | Brookfield Asset Management | 83.46 Bn | 81.96 Bn | - | 659.00 Mn |
| 6 | Apollo Global Management | 78.41 Bn | 53.04 Bn | 10.54 Bn | 8.74 Bn |
| 7 | State Street | 51.66 Bn | 51.66 Bn | - | 2.66 Bn |
| 8 | Ameriprise Financial | 51.12 Bn | 40.07 Bn | 4.72 Bn | 3.50 Bn |
| 9 | Raymond James Financial | 33.99 Bn | 20.74 Bn | - | 3.18 Bn |
| 10 | Sixth Street Specialty Lending | 1.79 Bn | 1.59 Bn | 97.48 Mn | 56.13 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 56.13 Mn |
| Mar 31, 2026 | 52.67 Mn |
| Dec 31, 2025 | 56.75 Mn |
| Sep 30, 2025 | 57.67 Mn |
| Jun 30, 2025 | 63.18 Mn |
| Mar 31, 2025 | 57.02 Mn |
| Dec 31, 2024 | 65.39 Mn |
| Sep 30, 2024 | 63.60 Mn |
| Jun 30, 2024 | 65.45 Mn |
| Mar 31, 2024 | 64.97 Mn |
| Dec 31, 2023 | 64.62 Mn |
| Sep 30, 2023 | 64.25 Mn |
| Jun 30, 2023 | 58.22 Mn |
| Mar 31, 2023 | 53.41 Mn |
| Dec 31, 2022 | 46.60 Mn |
| Sep 30, 2022 | 40.49 Mn |
| Jun 30, 2022 | 22.33 Mn |
| Mar 31, 2022 | 31.37 Mn |
| Dec 31, 2021 | 32.48 Mn |
| Sep 30, 2021 | 34.69 Mn |