Financial health
- Total debt ($1.7B) exceeds cash ($20M); net debt is $1.7B.
Shareholder returns
- Dividends have been paid for 3 consecutive years, consuming 99.9% of earnings.
- The dividend has grown 4.3% per year over the past 2 years.
TSLX Financials Sixth Street Specialty Lending, Inc.
3 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Overview →
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key annual figures
| FY | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| 2025 | — | $171M | — | — | — | $1.7B | $20M |
| 2024 | — | $187M | — | — | — | $1.9B | $27M |
| 2023 | — | $222M | — | — | — | $1.8B | $25M |
RevenueNet income
GrossOperatingNet
Free cash flow
CashTotal debt
OperatingInvestingFinancing
Key quarterly figures
| Quarter | Revenue | Net income | Gross M | Op M | FCF | Total debt | Cash |
|---|---|---|---|---|---|---|---|
| Mar '26 | — | -$26M | — | — | — | $1.8B | $29M |
| Dec '25 | — | $30M | — | — | — | $1.7B | $20M |
| Sep '25 | — | $45M | — | — | — | $1.8B | $83M |
| Jun '25 | — | $59M | — | — | — | $1.7B | $39M |
| Mar '25 | — | $37M | — | — | — | $1.8B | $47M |
| Dec '24 | — | $51M | — | — | — | $1.9B | $27M |
| Sep '24 | — | $41M | — | — | — | $1.9B | $30M |
| Jun '24 | — | $47M | — | — | — | $1.7B | $35M |
| Mar '24 | — | $48M | — | — | — | $1.8B | $36M |
Valuation over time
How the market has priced TSLX against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.
- The price-to-earnings ratio has fallen from 9.3× (Jan '24) to 9.0× (Jun '26).
- The dividend yield has risen from 7.6% (Jan '24) to 11.1% (Jun '26).
P/E
Dividend yield %
Frequently asked questions
Is TSLX growing its revenue and profit?
See the revenue and net-income charts above for Sixth Street Specialty Lending, Inc.'s multi-year trend.
How much debt does TSLX have?
As of FY2025, Sixth Street Specialty Lending, Inc. reported $1.7B of total debt against $20M of cash.
What is TSLX's profit margin?
In FY2025, gross margin was —, operating margin —, and net margin —.
What is TSLX's P/E ratio?
As of Jun '26, Sixth Street Specialty Lending, Inc. traded at a price-to-earnings ratio of about 9.0× (market cap ÷ latest annual net income). The valuation charts above show how its P/E and dividend yield have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.