Sixth Street Specialty Lending (TSLX) Operating Expenses (2021 - 2026)
Sixth Street Specialty Lending (TSLX) reported Operating Expenses of $52.7 million for Q1 2026, down 7.63% on a YoY basis from $57.0 million in Q1 2025, and down 7.19% sequentially from $56.7 million in Q4 2025.
Sixth Street Specialty Lending (TSLX) Operating Expenses (2021 - 2026) Analysis & Trends
Sixth Street Specialty Lending (TSLX) has 6 years of Operating Expenses data on file, last reported at $52.7 million in Q1 2026.
- For the quarter ending Q1 2026, Operating Expenses fell 7.63% year-over-year to $52.7 million; the trailing twelve-month figure through Mar 2026 stood at $230.3 million (down 8.43% YoY), and the FY2025 full-year result was $235.0 million, down 9.61% from the prior year.
- Operating Expenses declined to $52.7 million in Q1 2026, from $56.7 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.
- A 5-year average of $54.6 million and a median of $57.7 million in 2025 frame the typical range for Operating Expenses.
- Across the five-year window, Operating Expenses soared 160.74% in 2023 and fell 13.22% in 2025, its largest moves.
- Tracing TSLX's Operating Expenses over 5 years: stood at $46.6 million in 2022, then soared by 38.67% to $64.6 million in 2023, then grew by 1.2% to $65.4 million in 2024, then fell by 13.22% to $56.7 million in 2025, then slipped by 7.19% to $52.7 million in 2026.
- Business Quant data shows TSLX's Operating Expenses at $52.7 million in Q1 2026, $56.7 million in Q4 2025, and $57.7 million in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Brookfield | 1,236.60 Bn | 1,311.20 Bn | 18.56 Bn | -14.14 Bn |
| 2 | BlackRock | 161.01 Bn | 148.08 Bn | - | 3.88 Bn |
| 3 | Blackstone | 97.77 Bn | 96.72 Bn | - | 2.26 Bn |
| 4 | Apollo Global Management | 70.80 Bn | 90.38 Bn | -409.00 Mn | 4.68 Bn |
| 5 | State Street | 51.30 Bn | 51.30 Bn | - | 2.81 Bn |
| 6 | Ameriprise Financial | 48.54 Bn | 39.27 Bn | 4.57 Bn | 3.67 Bn |
| 7 | Northern Trust | 32.93 Bn | 32.93 Bn | - | 1.51 Bn |
| 8 | Raymond James Financial | 32.59 Bn | 17.67 Bn | - | 3.12 Bn |
| 9 | Price T Rowe | 24.70 Bn | 21.13 Bn | - | 1.18 Bn |
| 10 | Sixth Street Specialty Lending | 1.26 Bn | 1.24 Bn | 92.60 Mn | 52.67 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| 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 |