Sixth Street Specialty Lending (TSLX) Operating Expenses (2021 - 2026)
Sixth Street Specialty Lending's Operating Expenses was $55.66 million in Q2 2026, down 11.5% from $62.88 million a year earlier but up 6.3% from the prior quarter.
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Analysis
Sixth Street Specialty Lending (TSLX) Operating Expenses (2021 - 2026) Analysis & Trends
On a trailing twelve-month basis, Sixth Street Specialty Lending's Operating Expenses was $228.28 million through Jun 30, 2026, down 8.7% year-over-year; for FY2024, it came in at $260.03 million, up 8.1% from FY2023.
- Operating Expenses has now increased for four consecutive years, with a four-year compound annual growth rate of 22.0% (FY2020 to FY2024).
- In earlier years, Operating Expenses was $240.49 million in FY2023 (+70.8%), $140.78 million in FY2022 (+3.5%), $136.04 million in FY2021 (+16.0%) and $117.27 million in FY2020.
- Quarterly Operating Expenses has moved between $22.33 million (Q2 2022) and $66.42 million (Q4 2024) over five years.
- Compared with a year earlier, Operating Expenses was higher in 1 of the last seven quarters, with an average decline of 6.2%.
- The best year-over-year quarter for Operating Expenses over five years was Q2 2023 (growth of 160.7%); the worst was Q1 2025 (a decline of 11.7%).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Rocket Companies | 43.26 Bn | 28.94 Bn | - | 2.50 Bn |
| 2 | Orix | 42.40 Bn | 42.90 Bn | - | 4.66 Bn |
| 3 | Royalty Pharma | 33.56 Bn | 33.47 Bn | - | 541.02 Mn |
| 4 | Federal National Mortgage Association Fannie Mae | 24.47 Bn | 24.47 Bn | - | 2.07 Bn |
| 5 | Affirm Holdings | 23.34 Bn | 17.03 Bn | - | 1.02 Bn |
| 6 | Synchrony Financial | 23.06 Bn | -44.91 Bn | - | 1.33 Bn |
| 7 | Royal Gold | 19.98 Bn | 19.21 Bn | 390.45 Mn | 173.18 Mn |
| 8 | Annaly Capital Management | 14.18 Bn | 5.27 Bn | - | 58.19 Mn |
| 9 | Ares Capital | 13.71 Bn | 11.15 Bn | - | - |
| 10 | Sixth Street Specialty Lending | 1.72 Bn | 1.39 Bn | - | 55.66 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 55.66 Mn |
| Mar 31, 2026 | 52.35 Mn |
| Sep 30, 2025 | 57.39 Mn |
| Jun 30, 2025 | 62.88 Mn |
| Mar 31, 2025 | 57.02 Mn |
| Dec 31, 2024 | 66.42 Mn |
| Sep 30, 2024 | 63.60 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 |
API Access
Sixth Street Specialty Lending Operating Expenses 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=operating-expenses&ticker=TSLX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "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=operating-expenses&ticker=TSLX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();