Blackstone Secured Lending Fund
Financial ratios & Valuation

Forward Multiples (2025 – 2026)

20252026
Price/Earnings ratio
9.089.57
Price/Sales ratio
N/AN/A
Earnings per Share (EPS)
$3.34$3.17

Historical Multiples (2018 – 2023)

2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
-894.728.8012.0410.679.177.579.8210.67
Price/Sales ratio
843.716.336.7610.389.574.057.306.76
Price/Book Value ratio
11.140.550.801.100.890.931.180.80
Price/Cash Flow ratio
-7.53-0.36-1.13-1.285.5110.09-99.02-1.28
Price/Free Cash Flow ratio
-7.53-0.36-1.13-1.285.5110.09-105.47-1.28
Price/Earnings Growth ratio
N/A-0.00-0.440.27-0.390.150.05-0.44
Dividend Yield
N/A3.78%5.50%5.16%11.40%9.45%6.94%5.50%
Profitability Indicator Ratios
Gross Profit Margin
56.72%75.99%83.05%69.91%61.01%100%92.62%83.05%
Operating Profit Margin
-9.35%50.19%61.94%97.78%155.29%81.95%25.03%97.78%
Pretax Profit Margin
-94.29%71.96%56.18%97.78%104.67%54.98%70.22%56.18%
Net Profit Margin
-94.29%71.96%56.18%97.26%104.31%53.51%69.83%56.18%
Effective Tax Rate
-3.97%0.43%0.23%0.52%0.34%2.67%2.15%0.23%
Return on Assets
-0.51%3.32%3.67%4.52%4.08%6.03%5.56%3.67%
Return On Equity
-1.24%6.34%6.69%10.35%9.72%12.35%12.99%6.69%
Return on Capital Employed
-0.12%4.42%5.41%4.62%6.17%9.25%1.99%4.62%
Liquidity Ratios
Current Ratio
N/AN/AN/AN/AN/AN/AN/AN/A
Quick Ratio
1.770.060.231.861.7229.15N/A1.86
Cash ratio
0.010.040.140.620.8118.07N/A0.62
Days of Sales Outstanding
2.33K63.45130.77158.49138.4930.2862.71158.49
Days of Inventory outstanding
-155.27KN/AN/AN/AN/AN/AN/AN/A
Operating Cycle
-152.94K63.45130.77158.49138.49N/A62.71158.49
Days of Payables Outstanding
39.83K447.1890.87423.12390.54N/A952.4390.87
Cash Conversion Cycle
-192.77K-383.7339.89-264.63-252.05N/A-889.72-264.63
Debt Ratios
Debt Ratio
0.320.450.450.540.550.48N/A0.54
Debt Equity Ratio
0.780.860.821.231.320.99N/A1.23
Long-term Debt to Capitalization
N/A0.460.430.550.570.49N/A0.55
Total Debt to Capitalization
0.430.460.450.550.570.49N/A0.55
Interest Coverage Ratio
N/AN/AN/AN/AN/AN/A0.85N/A
Cash Flow to Debt Ratio
-1.89-1.75-0.86-0.690.120.09N/A-0.86
Company Equity Multiplier
2.431.901.822.282.382.042.171.82
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
-112.03-17.33-5.96-8.081.730.40-0.06-5.96
Free Cash Flow / Operating Cash Flow Ratio
11111111
Cash Flow Coverage Ratio
-1.89-1.75-0.86-0.690.120.09N/A-0.86
Short Term Coverage Ratio
-1.89N/A-12.68N/AN/AN/AN/A-12.68
Dividend Payout Ratio
N/A33.29%66.37%55.11%104.66%71.56%80.65%66.37%