Blackstone Secured Lending Fund (BXSL) financial statements
Net income was $563M.
The diluted share count rose 140% over the period (dilution).
Income statement
Fiscal years, from Blackstone Secured Lending Fund's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Interest expense | $66M | $120M | $204M | $266M | $326M | $382M |
| Net income | $219M | $460M | $405M | $612M | $694M | $563M |
| EPS (diluted) | $2.29 | $3.19 | $2.44 | $3.65 | $3.45 | $2.46 |
| Diluted shares | 95M | 145M | 166M | 168M | 201M | 229M |
Balance sheet
Fiscal years, from Blackstone Secured Lending Fund's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Cash and short-term investments | $218M | $103M | $131M | $155M | $230M | $290M |
| Total assets | — | $10.2B | $9.9B | $10.1B | $13.5B | $14.7B |
| Total liabilities | — | $5.7B | $5.8B | $5.2B | $7.4B | $8.4B |
| Shareholders' equity | $3.3B | $4.4B | $4.2B | $5.0B | $6.1B | $6.2B |
| Net debt | -$218M | -$103M | -$131M | -$155M | -$230M | -$290M |
Cash flow
Fiscal years, from Blackstone Secured Lending Fund's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$2.3B | -$3.8B | $673M | $459M | -$2.5B | -$459M |
| Dividends paid | $145M | $254M | $423M | $438M | $583M | $678M |
| Share buybacks (net) | $0 | $0 | -$263M | $0 | $0 | — |
| Net borrowing | $1.0B | $3.0B | $44M | -$651M | $2.2B | $920M |
| Dividends per share | $1.52 | $1.76 | $2.55 | $2.61 | $2.90 | $2.96 |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for BXSL.
Open BXSL in InvestinglyFrom Blackstone Secured Lending Fund's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.