Sixth Street Specialty Lending (TSLX) Operating Expenses (2021 - 2026)

Sixth Street Specialty Lending's (TSLX) quarterly Operating Expenses came in at $52.7 million in Q1 2026, down 8.29% year-on-year from $57.4 million in Q1 2025, and down 8.78% quarter-over-quarter from $57.7 million in Q4 2025.

Sixth Street Specialty Lending (TSLX) Operating Expenses (2021 - 2026) Analysis & Trends

Sixth Street Specialty Lending has disclosed Operating Expenses across 6 years of filings, most recently posting $52.7 million for Q1 2026.

  • Operating Expenses for Q1 2026 came in at $52.7 million, down 8.29% year-over-year; the trailing twelve-month figure through Mar 2026 was $230.7 million (down 8.53% YoY), and the FY2025 annual result was $235.0 million, down 9.61% from the prior year.
  • Operating Expenses came in at $52.7 million for Q1 2026 at Sixth Street Specialty Lending, down from $57.7 million in the prior quarter.
  • In the past five years, Operating Expenses ranged from a high of $65.4 million in Q2 2024 to a low of $22.3 million in Q2 2022.
  • The 5-year median for Operating Expenses is $57.7 million (2025), against an average of $54.6 million.
  • Across the five-year window, Operating Expenses soared 160.74% in 2023 and decreased 11.7% in 2025, its largest moves.
  • Sixth Street Specialty Lending's Operating Expenses stood at $46.6 million in 2022, then jumped by 38.67% to $64.6 million in 2023, then increased by 1.2% to $65.4 million in 2024, then dropped by 11.7% to $57.7 million in 2025, then slipped by 8.78% to $52.7 million in 2026.
  • The last three Operating Expenses figures came in at $52.7 million (Q1 2026), $57.7 million (Q4 2025), and $57.4 million (Q3 2025), per Business Quant data.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 BlackRock 163.18 Bn 153.56 Bn - 3.88 Bn
2 Blackstone 96.85 Bn 95.80 Bn - 2.26 Bn
3 Kkr 86.45 Bn 133.96 Bn - 3.87 Bn
4 Apollo Global Management 82.30 Bn 101.04 Bn 5.04 Bn 4.68 Bn
5 State Street 46.95 Bn 21.27 Bn - 2.81 Bn
6 Ameriprise Financial 43.65 Bn 43.52 Bn 4.57 Bn 3.67 Bn
7 Northern Trust 31.92 Bn 31.92 Bn - 1.51 Bn
8 Raymond James Financial 30.62 Bn 19.37 Bn - 3.12 Bn
9 Ares Management 29.04 Bn 32.41 Bn - 1.17 Bn
10 Sixth Street Specialty Lending - - 92.60 Mn 52.67 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 52.67 Mn
Dec 31, 2025 57.74 Mn
Sep 30, 2025 57.39 Mn
Jun 30, 2025 62.88 Mn
Mar 31, 2025 57.43 Mn
Dec 31, 2024 65.39 Mn
Sep 30, 2024 63.93 Mn
Jun 30, 2024 65.45 Mn
Mar 31, 2024 64.57 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