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Sixth Street Specialty Lending (TSLX) Financials

Sixth Street Specialty Lending logo
$20.17 +0.23 (+1.15%)
Closing price 04/15/2025 03:59 PM Eastern
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$20.20 +0.02 (+0.12%)
As of 04/15/2025 06:34 PM Eastern
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Annual Income Statements for Sixth Street Specialty Lending

Annual Income Statements for Sixth Street Specialty Lending

This table shows Sixth Street Specialty Lending's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024
Net Income / (Loss) Attributable to Common Shareholders		 -89 212 108 222 189
Consolidated Net Income / (Loss)		 -89 218 134 222 187
Net Income / (Loss) Continuing Operations		 -89 218 134 221 189
Total Pre-Tax Income 		153 143 169 224 193
Total Revenue		 0.74 393 462 431 381
Net Interest Income / (Expense)		 0.00 370 451 399 423
Total Interest Income		 0.00 409 451 399 423
Investment Securities Interest Income		 - 409 451 399 423
Total Interest Expense		 0.00 39 0.00 0.00 0.00
Total Non-Interest Income		 0.74 22 10 32 -42
Other Service Charges		 - 0.19 0.43 1.17 1.47
Net Realized & Unrealized Capital Gains on Investments		 0.74 29 15 31 -44
Total Non-Interest Expense		 84 234 272 247 247
Other Operating Expenses		 45 233 281 240 260
Other Special Charges		 39 0.59 -8.72 6.39 -13
Nonoperating Income / (Expense), net		 - 62 -52 39 59
Income Tax Expense		 5.76 2.29 3.18 2.37 3.94
Basic Earnings per Share		 $2.65 $2.93 $1.38 $2.61 $2.03
Weighted Average Basic Shares Outstanding		 67.21M 72.17M 78.20M 85.13M 92.04M
Diluted Earnings per Share		 $2.65 $2.79 $1.38 $2.61 $2.03
Weighted Average Diluted Shares Outstanding		 67.21M 77.70M 78.20M 85.13M 92.04M
Weighted Average Basic & Diluted Shares Outstanding		 - - 81.39M 87.83M 93.66M

Quarterly Income Statements for Sixth Street Specialty Lending

This table shows Sixth Street Specialty Lending's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Net Income / (Loss) Attributable to Common Shareholders		 34 108 53 53 65 51 48 47 42 52
Consolidated Net Income / (Loss)		 34 136 53 53 65 51 48 47 41 51
Net Income / (Loss) Continuing Operations		 35 134 53 53 65 51 48 47 42 52
Total Pre-Tax Income 		35 109 43 54 65 61 48 49 43 53
Total Revenue		 64 400 154 105 114 59 96 99 104 82
Net Interest Income / (Expense)		 75 318 133 98 104 64 105 105 106 108
Total Interest Income		 75 318 133 98 104 64 105 105 106 108
Investment Securities Interest Income		 75 - 133 98 104 64 105 105 106 108
Total Non-Interest Income		 -11 82 21 6.80 9.87 -5.03 -9.06 -5.93 -2.11 -25
Other Service Charges		 0.19 - 0.26 0.30 0.27 0.35 0.40 0.30 0.33 0.44
Net Realized & Unrealized Capital Gains on Investments		 -11 - 20 6.50 9.60 -5.38 -9.46 -6.22 -2.44 -26
Total Non-Interest Expense		 31 204 108 60 59 20 60 67 74 45
Other Operating Expenses		 40 206 107 58 64 11 65 66 64 65
Other Special Charges		 -9.22 -1.43 1.00 2.00 -5.47 8.86 -4.73 1.64 10 -21
Nonoperating Income / (Expense), net		 2.55 - 6.79 9.38 10 13 13 17 13 16
Income Tax Expense		 0.36 1.73 0.41 0.90 0.46 0.59 0.85 1.23 0.70 1.17
Basic Earnings per Share		 $0.43 $0.59 $0.65 $0.63 $0.74 $0.59 $0.53 $0.51 $0.44 $0.55
Weighted Average Basic Shares Outstanding		 79.48M 78.20M 81.40M 84.22M 87.25M 85.13M 89.03M 92.73M 93.02M 92.04M
Diluted Earnings per Share		 $0.43 $0.59 $0.65 $0.63 $0.74 $0.59 $0.53 $0.51 $0.44 $0.55
Weighted Average Diluted Shares Outstanding		 79.48M 78.20M 81.40M 84.22M 87.25M 85.13M 89.03M 92.73M 93.02M 92.04M
Weighted Average Basic & Diluted Shares Outstanding		 80.98M 81.39M 81.75M 87.24M 87.55M 87.83M 92.72M 93.02M 93.32M 93.66M

Annual Cash Flow Statements for Sixth Street Specialty Lending

This table details how cash moves in and out of Sixth Street Specialty Lending's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024
Net Change in Cash & Equivalents		 -0.87 2.69 9.68 -0.45 2.13
Net Cash From Operating Activities		 145 2.45 -225 -237 -45
Net Cash From Continuing Operating Activities		 145 2.45 -225 -237 -45
Net Income / (Loss) Continuing Operations		 178 212 108 222 187
Consolidated Net Income / (Loss)		 178 212 108 222 187
Amortization Expense		 -20 -21 -13 -11 -13
Non-Cash Adjustments to Reconcile Net Income		 -31 -191 -251 -472 -237
Changes in Operating Assets and Liabilities, net		 18 2.75 -68 25 18
Net Cash From Investing Activities		 0.00 0.00 0.00 0.00 0.00
Net Cash From Continuing Investing Activities		 0.00 0.00 0.00 0.00 0.00
Net Cash From Financing Activities		 -146 0.24 234 236 48
Net Cash From Continuing Financing Activities		 -146 0.24 234 236 48
Issuance of Debt		 1,114 1,617 1,330 1,546 1,785
Issuance of Common Equity		 0.00 86 0.00 89 93
Repayment of Debt		 -1,123 -1,473 -940 -1,233 -1,653
Repurchase of Common Equity		 -2.93 0.00 -6.17 0.00 0.00
Payment of Dividends		 -130 -222 -145 -156 -169
Other Financing Activities, Net		 -4.27 -7.95 -4.30 -9.42 -8.81
Cash Interest Paid		 34 29 56 119 140
Cash Income Taxes Paid		 3.98 3.87 1.67 2.44 2.28

Quarterly Cash Flow Statements for Sixth Street Specialty Lending

This table details how cash moves in and out of Sixth Street Specialty Lending's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Net Change in Cash & Equivalents		 3.10 -4.63 0.09 0.12 4.03 -4.68 11 -1.24 -4.92 -2.40
Net Cash From Operating Activities		 -244 54 -74 -113 37 -87 -66 125 -74 -31
Net Cash From Continuing Operating Activities		 -244 54 -74 -113 37 -87 -66 125 -74 -31
Net Income / (Loss) Continuing Operations		 34 46 53 53 65 51 48 47 41 51
Consolidated Net Income / (Loss)		 34 46 53 53 65 51 48 47 41 51
Amortization Expense		 -1.92 -4.86 -2.12 -2.86 -3.48 -3.00 -1.86 -4.43 -2.42 -3.87
Non-Cash Adjustments to Reconcile Net Income		 -264 30 -127 -164 -19 -162 -100 71 -109 -99
Changes in Operating Assets and Liabilities, net		 -12 -17 2.24 1.17 -5.30 27 -11 12 -3.71 21
Net Cash From Financing Activities		 247 -59 74 113 -33 82 76 -127 70 28
Net Cash From Continuing Financing Activities		 247 -59 74 113 -33 82 76 -127 70 28
Issuance of Debt		 526 305 458 293 478 318 622 234 251 678
Issuance of Common Equity		 - - 0.00 89 -0.09 -0.00 81 12 - 0.00
Repayment of Debt		 -221 -331 -345 -226 -467 -196 -579 -326 -139 -609
Payment of Dividends		 -54 -30 -39 -38 -39 -41 -43 -42 -43 -41
Cash Interest Paid		 16 22 26 31 32 31 38 30 48 24
Cash Income Taxes Paid		 0.01 0.07 2.41 0.00 0.01 0.01 2.30 0.10 -0.13 0.00

Annual Balance Sheets for Sixth Street Specialty Lending

This table presents Sixth Street Specialty Lending's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2021 2022 2023 2024
Total Assets		 2,552 2,837 3,344 3,582
Cash and Due from Banks		 16 26 25 27
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00
Other Assets		 2,536 2,811 3,319 3,555
Total Liabilities & Shareholders' Equity		 2,552 2,837 3,344 3,582
Total Liabilities		 1,276 1,495 1,847 1,975
Long-Term Debt		 1,186 1,442 1,780 1,901
Other Long-Term Liabilities		 90 54 67 74
Commitments & Contingencies		 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,276 1,342 1,496 1,608
Total Preferred & Common Equity		 1,276 1,342 1,496 1,608
Preferred Stock		 0.00 0.00 0.00 0.00
Total Common Equity		 1,276 1,342 1,496 1,608
Common Stock		 1,190 1,296 1,406 1,520
Retained Earnings		 90 56 101 98
Treasury Stock		 -4.29 -10 -10 -10

Quarterly Balance Sheets for Sixth Street Specialty Lending

This table presents Sixth Street Specialty Lending's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024
Total Assets		 2,860 2,973 3,141 3,174 3,452 3,387 3,530
Cash and Due from Banks		 30 26 26 30 36 35 30
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other Assets		 2,829 2,947 3,115 3,144 3,416 3,352 3,500
Total Liabilities & Shareholders' Equity		 2,860 2,973 3,141 3,174 3,452 3,387 3,530
Total Liabilities		 1,532 1,617 1,681 1,688 1,870 1,788 1,933
Long-Term Debt		 1,457 1,563 1,623 1,623 1,804 1,713 1,870
Other Long-Term Liabilities		 75 54 54 65 66 75 62
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 1,328 1,356 1,461 1,486 1,582 1,599 1,597
Total Preferred & Common Equity		 1,328 1,356 1,461 1,486 1,582 1,599 1,597
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 1,328 1,356 1,461 1,486 1,582 1,599 1,597
Common Stock		 1,291 1,301 1,396 1,402 1,493 1,511 1,517
Retained Earnings		 44 65 75 94 99 98 90
Treasury Stock		 -7.29 -10 -10 -10 -10 -10 -10

Annual Metrics and Ratios for Sixth Street Specialty Lending

This table displays calculated financial ratios and metrics derived from Sixth Street Specialty Lending's official financial filings.

Metric 2020 2021 2022 2023 2024
Growth Metrics		 - - - - -
Revenue Growth		 0.00% 53,020.30% 17.63% -6.58% -11.75%
EBITDA Growth		 0.00% 232.93% 27.97% -1.91% -29.81%
EBIT Growth		 0.00% 290.01% 19.15% -2.56% -27.35%
NOPAT Growth		 0.00% -45.73% 171.92% -15.85% -28.07%
Net Income Growth		 0.00% 344.20% -38.60% 65.66% -15.97%
EPS Growth		 0.00% 5.28% -50.54% 89.13% -22.22%
Operating Cash Flow Growth		 0.00% -98.31% -9,257.10% -5.46% 80.79%
Free Cash Flow Firm Growth		 0.00% 0.00% 95.61% -197.00% 67.60%
Invested Capital Growth		 0.00% 0.00% 13.06% 17.72% 7.08%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% -40.30% 57.34%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% -49.29% -14.34%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% -47.96% -12.68%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% -31.90% -18.11%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% -27.54% -0.09%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% -1.93%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 36.26% -147.61% 55.24%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 49.26%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 5.40% 1.18%
Profitability Metrics		 - - - - -
EBITDA Margin		 -14,032.61% 35.12% 38.20% 40.11% 31.90%
EBIT Margin		 -11,316.64% 40.48% 41.00% 42.77% 35.21%
Profit (Net Income) Margin		 -12,096.08% 55.61% 29.02% 51.47% 49.01%
Tax Burden Percent		 -58.52% 152.92% 79.33% 99.27% 96.61%
Interest Burden Percent		 -182.67% 89.83% 89.23% 121.23% 144.08%
Effective Tax Rate		 3.77% 1.60% 1.88% 1.06% 2.04%
Return on Invested Capital (ROIC)		 0.00% 6.48% 8.27% 6.02% 3.87%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 29.84% 1.96% 8.48% 6.87%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 27.74% 1.97% 9.62% 8.15%
Return on Equity (ROE)		 0.00% 34.22% 10.24% 15.65% 12.02%
Cash Return on Invested Capital (CROIC)		 0.00% -193.52% -3.99% -10.26% -2.97%
Operating Return on Assets (OROA)		 0.00% 6.23% 7.03% 5.97% 3.87%
Return on Assets (ROA)		 0.00% 8.55% 4.97% 7.18% 5.39%
Return on Common Equity (ROCE)		 0.00% 34.22% 10.24% 15.65% 12.02%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 17.11% 9.99% 14.84% 11.61%
Net Operating Profit after Tax (NOPAT)		 147 80 217 183 131
NOPAT Margin		 19,892.29% 20.32% 46.98% 42.32% 34.49%
Net Nonoperating Expense Percent (NNEP)		 0.00% -23.36% 6.31% -2.45% -3.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 11,416.64% 59.52% 59.00% 57.23% 64.79%
Earnings before Interest and Taxes (EBIT)		 -84 159 189 184 134
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -104 138 176 173 121
Valuation Ratios		 - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.85 1.12 1.24
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.85 1.12 1.24
Price to Revenue (P/Rev)		 0.00 0.00 2.48 3.89 5.22
Price to Earnings (P/E)		 0.00 0.00 10.61 7.55 10.51
Dividend Yield		 14.07% 20.20% 13.00% 10.97% 11.97%
Earnings Yield		 0.00% 0.00% 9.43% 13.24% 9.52%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.92 1.05 1.10
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 5.55 7.96 10.14
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 14.53 19.83 31.80
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 13.53 18.60 28.81
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 11.81 18.80 29.41
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - -
Debt to Equity		 0.00 0.93 1.07 1.19 1.18
Long-Term Debt to Equity		 0.00 0.93 1.07 1.19 1.18
Financial Leverage		 0.00 0.93 1.00 1.14 1.19
Leverage Ratio		 0.00 2.00 2.06 2.18 2.23
Compound Leverage Factor		 0.00 1.80 1.84 2.64 3.22
Debt to Total Capital		 0.00% 48.17% 51.80% 54.33% 54.18%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 48.17% 51.80% 54.33% 54.18%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 0.00% 51.83% 48.20% 45.67% 45.82%
Debt to EBITDA		 0.00 8.60 8.17 10.29 15.65
Net Debt to EBITDA		 0.00 8.49 8.03 10.14 15.43
Long-Term Debt to EBITDA		 0.00 8.60 8.17 10.29 15.65
Debt to NOPAT		 0.00 14.87 6.65 9.75 14.48
Net Debt to NOPAT		 0.00 14.67 6.53 9.62 14.27
Long-Term Debt to NOPAT		 0.00 14.87 6.65 9.75 14.48
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - -
Cash Flow Metrics		 - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -2,382 -105 -311 -101
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 -61.35 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.06 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.06 0.00 0.00 0.00
Efficiency Ratios		 - - - - -
Asset Turnover		 0.00 0.15 0.17 0.14 0.11
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - -
Invested Capital		 0.00 2,462 2,783 3,277 3,509
Invested Capital Turnover		 0.00 0.32 0.18 0.14 0.11
Increase / (Decrease) in Invested Capital		 0.00 2,462 322 493 232
Enterprise Value (EV)		 0.00 0.00 2,563 3,432 3,861
Market Capitalization		 0.00 0.00 1,146 1,677 1,988
Book Value per Share		 $0.00 $17.68 $16.57 $17.09 $17.23
Tangible Book Value per Share		 $0.00 $17.68 $16.57 $17.09 $17.23
Total Capital		 0.00 2,462 2,783 3,277 3,509
Total Debt		 0.00 1,186 1,442 1,780 1,901
Total Long-Term Debt		 0.00 1,186 1,442 1,780 1,901
Net Debt		 0.00 1,170 1,416 1,755 1,874
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 236 -139 83 -39 -55
Net Nonoperating Obligations (NNO)		 0.00 1,186 1,442 1,780 1,901
Total Depreciation and Amortization (D&A)		 -20 -21 -13 -11 -13
Earnings Adjustments		 - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $1.38 $2.61 $2.03
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 78.20M 85.13M 92.04M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $1.38 $2.61 $2.03
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 78.20M 85.13M 92.04M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 81.39M 87.83M 93.66M
Normalized Net Operating Profit after Tax (NOPAT)		 185 80 208 189 118
Normalized NOPAT Margin		 25,023.05% 20.47% 45.12% 43.78% 31.05%
Pre Tax Income Margin		 20,671.72% 36.36% 36.59% 51.85% 50.73%
Debt Service Ratios		 - - - - -
EBIT to Interest Expense		 0.00 4.09 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 2.05 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 4.09 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 2.05 0.00 0.00 0.00
Payout Ratios		 - - - - -
Dividend Payout Ratio		 -145.93% 101.67% 107.99% 70.45% 90.43%
Augmented Payout Ratio		 -149.21% 101.67% 112.59% 70.45% 90.43%

Quarterly Metrics and Ratios for Sixth Street Specialty Lending

This table displays calculated financial ratios and metrics derived from Sixth Street Specialty Lending's official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 -33.51% 0.00% 0.00% 4,363.82% 78.51% -85.31% -37.82% -5.52% -9.02% 39.99%
EBITDA Growth		 -63.11% 0.00% 274.68% 307.58% 68.69% -81.43% -23.97% -34.75% -47.72% -5.14%
EBIT Growth		 -60.80% 0.00% 309.09% 360.97% 69.42% -80.36% -23.42% -29.00% -46.63% -2.49%
NOPAT Growth		 -11.57% 0.00% 1.39% 466.60% 69.95% -55.58% -4.14% -29.61% -47.13% -22.90%
Net Income Growth		 -58.52% 0.00% 336.22% 492.53% 88.26% -62.25% -10.26% -10.72% -37.28% -0.33%
EPS Growth		 -38.57% 0.00% 27.45% 520.00% 72.09% 0.00% -18.46% -19.05% -40.54% -6.78%
Operating Cash Flow Growth		 0.00% 173.91% -190.58% 2.42% 115.02% -260.01% 10.84% 210.78% -303.20% 64.63%
Free Cash Flow Firm Growth		 0.00% 0.00% 0.00% 0.00% 90.23% 0.00% 84.99% 93.51% -22.64% 56.19%
Invested Capital Growth		 0.00% 0.00% 0.00% 0.00% 11.62% 17.72% 16.01% 7.40% 11.54% 7.08%
Revenue Q/Q Growth		 2,695.53% 527.04% -56.08% -31.76% 8.66% -48.41% 255.20% 3.69% 4.63% -20.62%
EBITDA Q/Q Growth		 252.21% 523.19% -78.39% -5.01% 23.70% -31.41% -31.45% -18.48% -0.90% 24.47%
EBIT Q/Q Growth		 290.34% 501.39% -77.87% -3.18% 23.57% -30.29% -31.83% -10.23% -7.12% 27.38%
NOPAT Q/Q Growth		 369.16% 232.26% -66.21% 21.31% 24.78% -13.16% -42.92% -10.92% -6.27% 26.65%
Net Income Q/Q Growth		 354.57% 293.64% -60.93% 0.26% 22.09% -21.07% -7.12% -0.25% -14.23% 25.43%
EPS Q/Q Growth		 386.67% 37.21% 10.17% -3.08% 17.46% -20.27% -10.17% -3.77% -13.73% 25.00%
Operating Cash Flow Q/Q Growth		 -110.65% 122.24% -235.39% -53.84% 132.42% -336.95% 24.55% 291.14% -159.47% 58.76%
Free Cash Flow Firm Q/Q Growth		 0.00% 100.00% 0.00% -5.45% 91.15% -65.74% -0.02% 54.42% -67.26% 40.79%
Invested Capital Q/Q Growth		 0.00% -0.06% 4.87% 5.65% 0.81% 5.40% 3.35% -2.20% 4.70% 1.18%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 48.02% 47.73% 28.64% 39.86% 45.38% 60.34% 35.02% 27.53% 26.08% 40.89%
EBIT Margin		 51.03% 48.94% 30.02% 42.59% 48.43% 65.44% 36.97% 32.01% 28.41% 45.59%
Profit (Net Income) Margin		 53.92% 33.85% 34.45% 50.61% 56.87% 87.00% 49.72% 47.83% 39.21% 61.95%
Tax Burden Percent		 98.02% 124.47% 122.15% 98.23% 99.29% 83.90% 98.24% 97.48% 94.97% 95.64%
Interest Burden Percent		 107.81% 55.57% 93.96% 120.99% 118.26% 158.46% 136.90% 153.31% 145.32% 142.08%
Effective Tax Rate		 1.01% 1.59% 0.95% 1.67% 0.71% 0.97% 1.76% 2.52% 1.63% 2.19%
Return on Invested Capital (ROIC)		 0.00% 4.44% 9.12% 18.26% 11.79% 11.52% 2.97% 2.46% 2.06% 5.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 6.41% 11.26% 19.39% 12.44% 11.75% 3.73% 3.45% 2.72% 5.78%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 6.89% 12.98% 21.55% 13.62% 13.34% 4.28% 3.76% 3.09% 6.85%
Return on Equity (ROE)		 0.00% 11.33% 22.10% 39.81% 25.41% 24.86% 7.25% 6.22% 5.14% 11.86%
Cash Return on Invested Capital (CROIC)		 0.00% -3.76% 0.00% 0.00% 0.00% -10.26% -8.50% -1.31% -6.04% -2.97%
Operating Return on Assets (OROA)		 0.00% 8.39% 5.71% 9.12% 11.60% 9.13% 2.97% 2.47% 2.05% 5.01%
Return on Assets (ROA)		 0.00% 5.80% 6.55% 10.83% 13.62% 12.14% 3.99% 3.70% 2.83% 6.81%
Return on Common Equity (ROCE)		 0.00% 11.33% 22.10% 39.81% 25.41% 24.86% 7.25% 6.22% 5.14% 11.86%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 15.44% 18.90% 20.62% 0.00% 13.69% 13.19% 11.69% 0.00%
Net Operating Profit after Tax (NOPAT)		 32 107 36 44 55 48 35 31 29 37
NOPAT Margin		 50.51% 26.77% 23.56% 41.88% 48.09% 80.95% 36.32% 31.20% 27.95% 44.58%
Net Nonoperating Expense Percent (NNEP)		 -0.30% -1.97% -2.14% -1.13% -0.65% -0.22% -0.76% -0.99% -0.67% -0.78%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 48.97% 51.06% 69.98% 57.41% 51.57% 34.56% 63.03% 67.99% 71.59% 54.41%
Earnings before Interest and Taxes (EBIT)		 33 196 46 45 55 38 35 32 29 38
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 31 191 44 42 52 35 33 27 27 34
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.85 0.95 0.93 1.06 1.12 1.16 1.24 1.20 1.24
Price to Tangible Book Value (P/TBV)		 0.00 0.85 0.95 0.93 1.06 1.12 1.16 1.24 1.20 1.24
Price to Revenue (P/Rev)		 0.00 2.48 2.27 2.01 2.19 3.89 7.10 7.85 7.89 5.22
Price to Earnings (P/E)		 0.00 10.61 7.00 5.44 5.67 7.55 8.45 9.39 10.15 10.51
Dividend Yield		 17.81% 13.00% 11.86% 11.61% 11.16% 10.97% 12.19% 12.04% 12.52% 11.97%
Earnings Yield		 0.00% 9.43% 14.29% 18.37% 17.65% 13.24% 11.83% 10.65% 9.85% 9.52%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.92 0.97 0.96 1.02 1.05 1.06 1.10 1.08 1.10
Enterprise Value to Revenue (EV/Rev)		 0.00 5.55 4.99 4.39 4.39 7.96 13.95 14.50 15.50 10.14
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 14.53 10.93 9.21 9.30 19.83 19.89 21.97 26.45 31.80
Enterprise Value to EBIT (EV/EBIT)		 0.00 13.53 10.44 8.89 8.95 18.60 18.73 20.41 24.43 28.81
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 11.81 16.31 12.39 11.84 18.80 18.06 19.65 23.39 29.41
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 384.15 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 1.10 1.07 1.15 1.11 1.09 1.19 1.14 1.07 1.17 1.18
Long-Term Debt to Equity		 1.10 1.07 1.15 1.11 1.09 1.19 1.14 1.07 1.17 1.18
Financial Leverage		 1.10 1.07 1.15 1.11 1.09 1.14 1.15 1.09 1.13 1.19
Leverage Ratio		 2.15 2.06 2.19 2.15 2.14 2.18 2.19 2.13 2.17 2.23
Compound Leverage Factor		 2.32 1.14 2.06 2.60 2.54 3.45 2.99 3.27 3.16 3.17
Debt to Total Capital		 52.32% 51.80% 53.55% 52.64% 52.21% 54.33% 53.28% 51.72% 53.94% 54.18%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 52.32% 51.80% 53.55% 52.64% 52.21% 54.33% 53.28% 51.72% 53.94% 54.18%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 47.68% 48.20% 46.45% 47.36% 47.79% 45.67% 46.72% 48.28% 46.06% 45.82%
Debt to EBITDA		 0.00 8.17 6.05 5.07 4.76 10.29 9.97 10.29 13.19 15.65
Net Debt to EBITDA		 0.00 8.03 5.95 4.99 4.67 10.14 9.77 10.08 12.98 15.43
Long-Term Debt to EBITDA		 0.00 8.17 6.05 5.07 4.76 10.29 9.97 10.29 13.19 15.65
Debt to NOPAT		 0.00 6.65 9.04 6.82 6.05 9.75 9.05 9.20 11.67 14.48
Net Debt to NOPAT		 0.00 6.53 8.89 6.71 5.94 9.62 8.87 9.02 11.48 14.27
Long-Term Debt to NOPAT		 0.00 6.65 9.04 6.82 6.05 9.75 9.05 9.20 11.67 14.48
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -2,753 0.00 -2,883 -3,040 -269 -446 -433 -197 -330 -195
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.00 0.17 0.19 0.21 0.24 0.14 0.08 0.08 0.07 0.11
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 2,785 2,783 2,919 3,084 3,109 3,277 3,386 3,312 3,468 3,509
Invested Capital Turnover		 0.00 0.17 0.39 0.44 0.25 0.14 0.08 0.08 0.07 0.11
Increase / (Decrease) in Invested Capital		 2,785 0.00 2,919 3,084 324 493 467 228 359 232
Enterprise Value (EV)		 0.00 2,563 2,821 2,950 3,173 3,432 3,599 3,658 3,750 3,861
Market Capitalization		 0.00 1,146 1,284 1,352 1,580 1,677 1,831 1,980 1,910 1,988
Book Value per Share		 $16.71 $16.57 $16.66 $17.87 $17.03 $17.09 $17.77 $17.25 $17.17 $17.23
Tangible Book Value per Share		 $16.71 $16.57 $16.66 $17.87 $17.03 $17.09 $17.77 $17.25 $17.17 $17.23
Total Capital		 2,785 2,783 2,919 3,084 3,109 3,277 3,386 3,312 3,468 3,509
Total Debt		 1,457 1,442 1,563 1,623 1,623 1,780 1,804 1,713 1,870 1,901
Total Long-Term Debt		 1,457 1,442 1,563 1,623 1,623 1,780 1,804 1,713 1,870 1,901
Net Debt		 1,427 1,416 1,537 1,597 1,593 1,755 1,768 1,678 1,841 1,874
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Expense (NNE)		 -2.18 -28 -17 -9.16 -10 -3.56 -13 -16 -12 -14
Net Nonoperating Obligations (NNO)		 1,457 1,442 1,563 1,623 1,623 1,780 1,804 1,713 1,870 1,901
Total Depreciation and Amortization (D&A)		 -1.92 -4.86 -2.12 -2.86 -3.48 -3.00 -1.86 -4.43 -2.42 -3.87
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.43 $0.59 $0.65 $0.63 $0.74 $0.59 $0.53 $0.51 $0.44 $0.55
Adjusted Weighted Average Basic Shares Outstanding		 79.48M 78.20M 81.40M 84.22M 87.25M 85.13M 89.03M 92.73M 93.02M 92.04M
Adjusted Diluted Earnings per Share		 $0.00 $0.59 $0.65 $0.63 $0.74 $0.59 $0.53 $0.51 $0.44 $0.55
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 78.20M 81.40M 84.22M 87.25M 85.13M 89.03M 92.73M 93.02M 92.04M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 80.98M 81.39M 81.75M 87.24M 87.55M 87.83M 92.72M 93.02M 93.32M 93.66M
Normalized Net Operating Profit after Tax (NOPAT)		 23 106 37 46 49 56 30 33 39 17
Normalized NOPAT Margin		 36.21% 26.41% 24.20% 43.75% 43.32% 95.87% 31.46% 32.81% 37.72% 20.11%
Pre Tax Income Margin		 55.01% 27.20% 28.20% 51.53% 57.28% 103.70% 50.61% 49.07% 41.28% 64.77%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 0.00% 107.99% 71.99% 58.05% 47.45% 70.45% 74.45% 78.53% 90.33% 90.43%
Augmented Payout Ratio		 0.00% 112.59% 71.99% 58.05% 47.45% 70.45% 74.45% 78.53% 90.33% 90.43%

Frequently Asked Questions About Sixth Street Specialty Lending's Financials

When does Sixth Street Specialty Lending's fiscal year end?

According to the most recent income statement we have on file, Sixth Street Specialty Lending's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Sixth Street Specialty Lending's net income changed over the last 4 years?

Sixth Street Specialty Lending's net income appears to be on an upward trend, with a most recent value of $186.57 million in 2024, falling from -$89.39 million in 2020. The previous period was $222.02 million in 2023.

How has Sixth Street Specialty Lending revenue changed over the last 4 years?

Over the last 4 years, Sixth Street Specialty Lending's total revenue changed from $739 thousand in 2020 to $380.68 million in 2024, a change of 51,413.4%.

How much debt does Sixth Street Specialty Lending have?

Sixth Street Specialty Lending's total liabilities were at $1.97 billion at the end of 2024, a 6.9% increase from 2023, and a 54.8% increase since 2021.

How much cash does Sixth Street Specialty Lending have?

In the past 3 years, Sixth Street Specialty Lending's cash and equivalents has ranged from $15.97 million in 2021 to $27.33 million in 2024, and is currently $27.33 million as of their latest financial filing in 2024.

How has Sixth Street Specialty Lending's book value per share changed over the last 4 years?

Over the last 4 years, Sixth Street Specialty Lending's book value per share changed from 0.00 in 2020 to 17.23 in 2024, a change of 1,722.6%.

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This page (NYSE:TSLX) was last updated on 4/16/2025 by MarketBeat.com Staff
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