Sixth Street Specialty Lending (TSLX) Operating Margin (2024 - 2026)
Sixth Street Specialty Lending recorded quarterly Operating Margin of 43.95% in Q1 2026, down 8.16% quarter-over-quarter from 47.85% in Q4 2025, and down 704.0% year-over-year from 7.28% in Q1 2025.
Sixth Street Specialty Lending's Operating Margin history runs 3 years deep, the most recent figure standing at 43.95% for Q1 2026.
- In Q1 2026, Operating Margin fell 704.0% year-over-year to 43.95%; the TTM figure through Mar 2026 stood at 46.24% (down 158.0% YoY), while the FY2025 annual figure was 47.95%, up 153.0% from the prior year.
- Operating Margin came in at 43.95% for Q1 2026 at Sixth Street Specialty Lending, down from 47.85% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 50.99% in Q1 2025 to a low of 43.95% in Q1 2026.
- A 3-year average of 46.81% and a median of 46.66% in 2024 frame the typical range for Operating Margin.
- Across the five-year window, Operating Margin soared 581 bps in 2025 and plunged 704 bps in 2026, its largest moves.
- Sixth Street Specialty Lending's Operating Margin stood at 47.5% in 2024, then rose by 1 bps to 47.85% in 2025, then dropped by 8 bps to 43.95% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 43.95%, 47.85%, and 47.56% for Q1 2026, Q4 2025, and Q3 2025 respectively.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 158.51 Bn | 148.89 Bn | - | 42.01% |
| 2 | Blackstone | 92.68 Bn | 91.63 Bn | - | - |
| 3 | Kkr | 84.94 Bn | 132.45 Bn | - | 46.06% |
| 4 | Brookfield Asset Management | 77.34 Bn | 77.68 Bn | - | - |
| 5 | Apollo Global Management | 76.27 Bn | 95.00 Bn | 5.04 Bn | 1.56% |
| 6 | State Street | 44.42 Bn | 18.75 Bn | - | - |
| 7 | Ameriprise Financial | 41.68 Bn | 41.55 Bn | 4.57 Bn | 18.44% |
| 8 | Northern Trust | 31.21 Bn | 31.21 Bn | - | - |
| 9 | Ares Management | 28.85 Bn | 32.22 Bn | - | - |
| 10 | Sixth Street Specialty Lending | - | - | 92.60 Mn | 43.95% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 43.95% |
| Dec 31, 2025 | 47.85% |
| Sep 30, 2025 | 47.56% |
| Jun 30, 2025 | 45.33% |
| Mar 31, 2025 | 50.99% |
| Dec 31, 2024 | 47.50% |
| Sep 30, 2024 | 46.66% |
| Jun 30, 2024 | 46.27% |
| Mar 31, 2024 | 45.18% |