Blackstone Secured Lending Fund (BXSL) Stock Price & Analysis
Blackstone Secured Lending Fund (BXSL) closed at USD 23.91 on Thursday, October 22, 2026, up 2.31% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 23.37; the Oct 22, 2026 session ranged USD 23.4–24 on volume of 1,884,420 shares. Market capitalization is $5.57B, with a 52-week range of USD 22.47–28.59 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 10:34 UTC.
Also available as compact Markdown for AI agents: nexqual.com/BXSL.md
Key facts (BXSL)
- Valuation: P/E 19.0x (avg 9.2x at the last 3 fiscal year-ends), net debt $7.27B.
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $50K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Hold (mean 2.50 on a 1–5 scale) (12 analysts), mean target USD 24.66 (range 22–26).
- Total return with dividends: 1Y +1.9% vs S&P 500 +14.9%; 5Y +42.0% vs S&P 500 +80.3%.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (BXSL)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Net income | $460M | $405M | $612M | $694M | $563M | $293M |
| EPS (diluted) | $3.19 | $2.44 | $3.65 | $3.45 | $2.46 | — |
| Cash + short-term investments | $103M | $131M | $155M | $230M | $290M | — |
| Total debt | $5.50B | $5.53B | $4.91B | $7.06B | $8.08B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (BXSL)
P/E 19.0x · P/B 0.9x · Earnings yield 5.27% · Dividend yield (paid, TTM) 12.26% · Net debt $7.27B · EV $12.8B
P/E at fiscal year-ends: Dec 2025 10.7x, Dec 2024 9.4x, Dec 2023 7.6x.
Insider purchases (SEC Form 4, open-market, last ~7 months) (BXSL)
1 purchase, $50K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-05-12 | Bass Robert J | 2,095 | $50K | 23.8 | Too little history (no open-market trades in 2023 or 2024) |
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (BXSL)
Consensus Hold (mean 2.50 on a 1–5 scale), 12 analysts; mean target USD 24.66 (low 22, high 26).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-01 | UBS | Target raised | Neutral | $24.5 → $25.5 |
| 2026-07-23 | Oppenheimer | Initiated | Perform | $25 |
| 2026-07-02 | JP Morgan | Target lowered | Overweight | $24 → $23 |
Total return (dividends reinvested) (BXSL)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-25) | |
|---|---|---|
| Total return | +1.9% | +42.0% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +1.9% | +7.3% |
| Volatility (annualized) | 20.6% | 19.2% |
| Max drawdown | -14.8% (Dec 2025→Mar 2026) | -34.1% (Dec 2021→Jul 2022) |
BXSL suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | PJT Partners Inc. (PJT) | “In addition, one or more investment vehicles controlled by Blackstone could be established to facilitate participation in Blackstone's side-by-side investment program by employees and/or partners of PJT.” |
| Partner | Corebridge Financial, Inc. (CRBG) | “In addition, Blackstone acquired a minority interest in Corebridge, and in connection therewith has entered into a long-term asset management partnership with certain subsidiaries and/or affiliates of Corebridge to serve as the exclusive external manager with respect to certain asset classes within their investment portfolio, for compensation.” |
| Partner | McKesson (MCK) | “At Deloitte, Mr. Bass was responsible for all services provided to Forstmann Little and its portfolio companies and was the advisory partner for Blackstone, DIRECTV, 24 Hour Fitness, McKesson, IMG and CSC.” |
Quoted from the company's 10-K filed Feb 25, 2026.
BXSL company outlook (results filed Aug 6, 2026)
- “(2) BXSL has an investment grade credit rating of Baa 2 / negative outlook from Moody's, issued on June 1 , 2026 , an investment grade credit rating of BBB / stable outlook from Fitch, reaffirmed on April 9 , 2026 , and an investment grade credit rating of BBB - / stable from S&P, issued on June 1 , 2026 .”
Quoted word-for-word from the SEC 8-K results press release.
BXSL analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $0.66 | $0.66 | -0.8% | $317.8M | 12 |
| Next quarter (ends Dec 2026) | $0.65 | $0.65 | -0.2% | $319.2M | 12 |
| Current fiscal year (ends Dec 2026) | $2.83 | $2.74 | +3.2% | $1.28B | 11 |
| Next fiscal year (ends Dec 2027) | $2.56 | $2.56 | -0.2% | $1.28B | 12 |
BXSL options: expected move
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 22.3% | ±5.4% |
| Dec 18, 2026 | 56 | 19.9% | ±6.3% |
| Jan 15, 2027 | 84 | 16.1% | ±7.6% |
| Feb 19, 2027 | 119 | 16.8% | ±8.6% |
| May 21, 2027 | 210 | 18.9% | ±12.9% |
30-day implied volatility 22% vs 19.3% realized over the last 30 trading days. Put/call ratio (volume) 0.94. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 10:34 UTC)
| Price | USD 23.91 |
|---|---|
| Change | ▲ 2.31% (up) |
| Previous Close | USD 23.37 |
| Open | USD 23.45 |
| Day Range | USD 23.4 – 24 |
| 52-Week Range | USD 22.47 – 28.59 |
| Volume | 1,884,420 shares |
| Market Cap | $5.57B |
| Exchange | NYQ |
Technical Analysis (BXSL)
Nexqual's technical model rates BXSL "NEUTRAL" based on 2 bullish and 3 bearish signals across 127 daily candles, as of October 23, 2026 at 10:34 UTC.
| Overall Signal | NEUTRAL |
|---|---|
| RSI (14) | 48.34 (neutral) |
| vs SMA50 | Below (USD 24.37) |
| MACD | -0.19 (negative) |
Analyst Ratings (BXSL)
Wall Street analysts rate BXSL "Hold" based on 12 analysts, with a mean price target of USD 24.66 (range USD 22–26), per Nexqual as of October 23, 2026 at 10:34 UTC.
| Consensus Rating | Hold |
|---|---|
| Analyst Count | 12 |
| Mean Target | USD 24.66 |
| High Target | USD 26 |
| Low Target | USD 22 |
| Buy / Hold / Sell | 5 / 6 / 1 |
Earnings (BXSL)
| EPS Estimate | USD 0.66 |
|---|---|
| Revenue Estimate | $317.77M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 0.75 vs est 0.66 ▲ beat |
| 2026-03-31 | USD 0.77 vs est 0.74 ▲ beat |
| 2025-12-31 | USD 0.8 vs est 0.79 ▲ beat |
| 2025-09-30 | USD 0.82 vs est 0.79 ▲ beat |
Source: Nexqual, October 23, 2026 at 10:34 UTC.
Financials & Fundamentals (BXSL)
| Total Revenue | $1.36B |
|---|---|
| Revenue Growth (latest quarter, YoY) | -7.10% |
| Gross Margin | +100.00% |
| Operating Margin | +87.14% |
| Profit Margin | +21.53% |
| ROE | +4.80% |
| Debt / Equity | 1.27 |
| Current Ratio | 1.31 |
| Total Cash | $183.42M |
| Total Debt | $7.54B |
Source: Nexqual, October 23, 2026 at 10:34 UTC.
Financial Health Score (BXSL)
Nexqual rates Blackstone Secured Lending Fund's overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 10:34 UTC.
| Growth | Solid — Revenue +7% YoY (annual) |
|---|---|
| Profitability | Strong — Operating margin 87% |
| Balance Sheet | Mixed — $267M cash and investments vs $7.54B debt (Jun 2026, SEC) |
| Cash Flow | Weak — Operating cash flow -$459M (FY ended Dec 2025, 10-K) |
| Efficiency | Weak — ROE 5%, ROA 5.2% |
Ownership (BXSL)
| Insider Ownership | +8.64% |
|---|---|
| Institutional Ownership | +45.08% |
| Shares Outstanding | 232.97M |
| Short % of Float | +5.99% |
Source: Nexqual, October 23, 2026 at 10:34 UTC.
Leadership (BXSL)
Blackstone Secured Lending Fund is led by Brad Marshall, Global Head of Private Credit Strategies, Chairman & CEO, per Nexqual as of October 23, 2026 at 10:34 UTC.
| Global Head of Private Credit Strategies, Chairman & CEO | Brad Marshall |
|---|---|
| President | Carlos Whitaker |
| Chief Financial Officer | Teddy Desloge |
| Senior Managing Director of Strategic Relationships - Blackstone Inc. | Emily Yoder Johnson |
Major Backers & Investors (BXSL)
Notable institutional backers of Blackstone Secured Lending Fund include Morgan Stanley, Bank of America Corporation, UBS Group AG, according to Nexqual as of October 23, 2026 at 10:34 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Morgan Stanley | 2.73% |
| Bank of America Corporation | 2.42% |
| UBS Group AG | 2.2% |
| Van Eck Associates Corporation | 1.79% |
| STRS Ohio | 1.72% |
| Ensign Peak Advisors, Inc | 1.41% |
| Blackstone Inc | 1.38% |
| VanEck ETF Trust-VanEck BDC Income ETF | 1.37% |
Source: Nexqual, October 23, 2026 at 10:34 UTC.
From Blackstone Secured Lending Fund's Latest SEC 10-K Filing (filed 2026-02-25)
Key Strengths & Strategy (as disclosed to the SEC)
- Blackstone Credit & Insurance, including the Advisers, provides investment management services to other registered investment companies, investment funds, client accounts and proprietary accounts that Blackstone Credit & Insurance may establish (other than the Company) (collectively, the "Other Blackstone Credit & Insurance Clients").
- Scale allows for more resources to source, diligence and monitor investments, and may enable us to move up market where there is often less competition and may allow us to negotiate more favorable terms for investments.
- Our long-term investment horizon gives us great flexibility, which we believe allows us to maximize returns on our investments.
- We believe our operating efficiency and senior investment strategy enable us to generate greater risk-adjusted investment returns for our investors relative to other publicly traded BDCs. 2 As of December 31, 2025.
Partnerships
- We believe that the breadth and scale of Blackstone Credit & Insurance's platform, with $443 billion of AUM as of December 31, 2025, and affiliation with Blackstone provide a distinct advantage in sourcing and deploying capital toward proprietary investment opportunities and provide a differentiated capability to invest in large, complex opportunities.
- We believe that Blackstone Credit & Insurance's strong reputation and longstanding relationships with its broad network will help drive substantial proprietary deal flow and provide a significant pipeline of investment opportunities for us.
Legal & Regulatory Risks (Item 1A, quoted)
- Changes in laws or regulations governing our operations may adversely affect our business or cause us to alter our business strategy.
- Trade negotiations and related government actions may create regulatory uncertainty for our portfolio companies and our investment strategies and adversely affect the profitability of our portfolio companies.
- We, the Advisers and their affiliates are subject to regulatory oversight, which could negatively impact our operations, cash flow or financial condition, impose additional costs on us or otherwise adversely affect our business.
- Compliance with the SEC's Regulation Best Interest by participating broker-dealers may negatively impact our ability to raise capital in a public offering, which could harm our ability to achieve our investment objectives.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| VCTR | Victory Capital Holdings, Inc. | USD 107.39 | ▼ 0.2% |
| PDI | PIMCO Dynamic Income Fund | USD 14.3 | ▲ 1.2% |
| AMG | Affiliated Managers Group, Inc. | USD 395.53 | ▲ 0.48% |
| IVZ | Invesco Ltd | USD 28.79 | ▼ 1.57% |
| SEIC | SEI Investments Company | USD 104.5 | ▼ 3.62% |
| ARCC | Ares Capital Corporation | USD 18.79 | ▲ 2.12% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 10:34 UTC. This page is informational and not investment advice.
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