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| Date | Value |
|---|---|
| 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 |