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Earnings transcript
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TSLX
Sixth Street Specialty Lending, Inc.
$17.45
0.23
(1.34%)
| Exchange: | NYSE |
| Market Cap: | 1.658B |
| Shares Outstanding: | 34.635M |
Delayed data
About The Company
| Sector: | Financial Services | |||||
| Industry: | Asset Management | |||||
| CEO: | Robert J. Stanley | |||||
| Full Time Employees: | ||||||
| Address: |
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| Website: | https://www.sixthstreetspecialtylending.com |
Sixth Street Specialty Lending, Inc. (TSLX) functions as a specialized Business Development Company. It provides a wide array of financing solutions, including various forms of debt such as senior secured loans (encompassing first-lien, second-lien, and unitranche facilities), unsecured loans, and mezzanine debt. The firm also strategically allocates capital to corporate bonds, equity securities, structured products, non-control structured equity, and common equity, frequently engaging in co-investments. These financial commitments primarily aim to facilitate corporate endeavors like organic expansion, strategic acquisitions, market or product diversification, restructuring initiatives, recapitalizations, and refinancing. Its investment focus covers a broad range of sectors, including business services, software and technology, healthcare, energy, consumer and retail, manufacturing, industrials, royalty-generating enterprises, education, and specialty finance. The company primarily targets middle-market companies, with a strong emphasis on those situated within the United States. Prospective portfolio companies typically exhibit an enterprise value between $50 million and more than $1 billion, alongside EBITDA figures ranging from $10 million to $250 million. Individual transaction sizes generally range from $15 million to $350 million. Sixth Street Specialty Lending is adept at investing across the entire capital structure, possesses the capacity to arrange syndicated transactions totaling up to $500 million, and can maintain significant ownership stakes within its credit exposures.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 369,801 | 359,743 | 360,208 |
| Gross Profit | 273,406 | 252,974 | 262,391 |
| EBITDA | 223,832 | 193,119 | 230,754 |
| Operating Income | 223,832 | 193,119 | 192,886 |
| Net Income | 222,023 | 186,566 | 170,518 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 3,343,808 | 3,582,225 | 3,421,655,000 |
| Total Liabilities | 1,847,433 | 1,974,696 | 1,813,934,000 |
| Total Stockholders Equity | 1,496,375 | 1,607,529 | 1,607,721,000 |
| Total Debt | 1,780,307 | 1,901,142 | 0 |
| Cash and Cash Equivalents | 1,217 | 4,966 | 19,662,000 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 191,975 | 187,248 | 0 |
| Capital Expenditure | 0 | 0 | 0 |
| Free Cash Flow | 191,975 | 187,248 | 0 |
| Net Income | 222,023 | 186,566 | -420 |
| Net Change in Cash | -451 | 2,132 | 0 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2028 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 374,479.644 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 403,184.117 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 387,018 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 238,245.650 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 256,507.566 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 246,222.609 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 168,575.168 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 170,469.271 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 169,522.220 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 17,825.707 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 19,192.076 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 18,422.549 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 1.790 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 1.800 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 1.780 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 2 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 2 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Robust Financial Performance: TSLX reported strong key financial results in the Q2 2025 earnings call, with metrics indicating solid revenue and net income growth as per income statement data. This performance aligns with positive operating cash flow and free cash flow trends from cash flow statements, reflecting operational efficiency.
- High Dividend Yield: The company offers a competitive dividend yield (as per key metrics TTM data), which is attractive to income-focused investors, supported by consistent dividend payments noted in cash flow statements.
- Disciplined Capital Allocation: As highlighted in the Q2 2025 earnings call transcript, TSLX maintains a focus on disciplined capital allocation, ensuring investments are strategically targeted to maximize returns, which is a key driver of sustained profitability.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates TSLX intrinsic value between $25.81 – $29.94 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
[intrinsic_calculator]
Common questions about TSLX valuation
Is Sixth Street Specialty Lending, Inc. (TSLX) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Sixth Street Specialty Lending, Inc. (TSLX) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is TSLX a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether TSLX trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is TSLX’s P/E ratio?
You can see TSLX’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for TSLX?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is TSLX a good long-term investment?
Whether TSLX fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
TSLX
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Daily snapshot
1.34
Trading Metrics:
| Open: | 17.25 | Previous Close: | 17.22 | |
| Day Low: | 17.22 | Day High: | 17.55 | |
| Year Low: | 16.96 | Year High: | 25.17 | |
| Price Avg 50: | 18.18 | Price Avg 200: | 20.62 | |
| Volume: | 48499 | Average Volume: | 835330 |
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Login — it's freeTSLX full analysis
Welcome to MARKETSNAP’s SWOT analysis for Sixth Street Specialty Lending, Inc., also known by its ticker TSLX. If you’re a long-term investor looking to build wealth through smart stock picks, you’re in the right place. Today, we’re diving deep into this specialty finance company to uncover what makes it tick, what’s holding it back, and where it might be headed. So, grab a coffee, let’s break this down together, and see if this stock deserves a spot in your portfolio.…
