Valuation, from the filing
| Public float | $2.16B | Market value of stock held by non-affiliates, as stated on the cover page for 2025-06-30 |
|---|---|---|
| Float per share | $22.79 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / net income | 12.7× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 1.3× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.
Valuation over time
12.7× earnings today, against a median of 10.3× across 3 years on record. Above its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2025-06-30 | $2.16B | 12.7× | |
| 2024-06-28 | $1.92B | 10.3× | |
| 2023-06-30 | $1.57B | 7.1× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
How this compares in its industry
Percentile among the industry filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
| Measure | Reported | Percentile | |
|---|---|---|---|
| Long-term debt / equity | 1.08x | 30th |
Sixth Street Specialty Lending, Inc. (TSLX) reported net income of $170.52M for the fiscal year ended 2025-12-31. This page shows 3 annual periods of income statement, balance sheet and cash flow figures normalized from Sixth Street Specialty Lending, Inc.’s SEC filings, each linked to the filing it came from.
Income
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenue | Unavailable | Unavailable | Unavailable |
| Cost of revenue | Unavailable | Unavailable | Unavailable |
| Gross profit | Unavailable | Unavailable | Unavailable |
| Operating income | Unavailable | Unavailable | Unavailable |
| Net income | $170.52M | $186.57M | $222.02M |
| Research & development | Unavailable | Unavailable | Unavailable |
| Weighted-average diluted shares | shares 94.10M | shares 92.04M | shares 85.13M |
| Pretax income | Unavailable | $223.96M | $198.76M |
| Income tax expense | Unavailable | $3.94M | $2.36M |
| Diluted EPS | $1.81 | $2.03 | $2.61 |
| Selling, general & administrative | Unavailable | Unavailable | Unavailable |
| General & administrative | Unavailable | Unavailable | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash & equivalents | $19.66M | $27.33M | $25.20M |
| Total assets | $3.42B | $3.58B | $3.34B |
| Current assets | Unavailable | Unavailable | Unavailable |
| Total liabilities | $1.81B | $1.97B | $1.85B |
| Current liabilities | Unavailable | Unavailable | Unavailable |
| Total equity incl. NCI | $1.61B | $1.61B | $1.50B |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable |
| Inventory | Unavailable | Unavailable | Unavailable |
| Accounts receivable | Unavailable | Unavailable | Unavailable |
| Goodwill | Unavailable | Unavailable | Unavailable |
| Long-term debt | $1.74B | $1.90B | $1.78B |
| Accounts payable | Unavailable | Unavailable | Unavailable |
Cash flow
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Operating cash flow | $401.58M | -$45.49M | -$236.79M |
| Capital expenditures | Unavailable | Unavailable | Unavailable |
| Investing cash flow | Unavailable | Unavailable | Unavailable |
| Financing cash flow | -$409.24M | $47.62M | $236.34M |
| Net change in cash | -$7.67M | $2.13M | -$451.00K |
| Stock-based compensation | Unavailable | Unavailable | Unavailable |
| Common dividends paid | $170.32M | $168.72M | $156.42M |
| Common share repurchases | Unavailable | Unavailable | Unavailable |
| Depreciation & amortization | Unavailable | Unavailable | Unavailable |
Derived
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Free cash flow | Unavailable | Unavailable | Unavailable |
| Gross margin | Unavailable | Unavailable | Unavailable |
| Operating margin | Unavailable | Unavailable | Unavailable |
| FCF margin | Unavailable | Unavailable | Unavailable |
| SBC / revenue | Unavailable | Unavailable | Unavailable |
| Current ratio | Unavailable | Unavailable | Unavailable |
| Revenue YoY growth | Unavailable | Unavailable | Unavailable |
| Net margin | Unavailable | Unavailable | Unavailable |
| R&D / revenue | Unavailable | Unavailable | Unavailable |
| CapEx / revenue | Unavailable | Unavailable | Unavailable |
| Long-term debt / equity | 1.08x | Unavailable | Unavailable |
| Effective tax rate | Unavailable | 1.8% | 1.2% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open TSLX in the interactive workspace to inspect any figure back to its filing.
Source filings
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.