Sixth Street Specialty Lending, Inc. (TSLX) Stock

Sixth Street Specialty Lending, Inc. (TSLX) is a Financial Services stock trading at $16.72 (as of 2026-07-24), with a market capitalization of $1.59B and a trailing P/E of 14.8. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Sixth Street Specialty Lending, Inc. is a business development company that provides financing to middle market companies, investing across the capital structure through senior secured, unsecured, mezzanine, and other structured credit and related investments in corporate bonds and equity securities. It focuses primarily on companies based in the United States and targets a range of industries.

Understand Sixth Street Specialty Lending, Inc.: how it makes money

Sixth Street Specialty Lending provides financing to businesses through senior secured loans, unitranche and mezzanine debt, unsecured loans, and investments in corporate bonds and equity securities, structured products, and common equity, earning returns from these debt and investment holdings.

Its profit engine is tied to the operating strength of its core portfolio companies, since the fund holds a mix of debt (including secured and mezzanine) and equity and structured-product investments in those companies.

Business quality (Weak): Clear, portfolio-driven business model (debt plus equity and structured-product investments), but the provided data does not include segment revenue detail or margin metrics for the latest quarter.

Valuation: At 15× earnings, TSLX trades 45% above the Asset Management average (10×). Note: one-time items can distort reported P/E.

Bull case

Diversified portfolio instruments: It provides senior secured loans, unsecured loans, mezzanine debt, and also invests in corporate bonds and equity securities, structured products, and common equity (including co-investments), which can spread exposure across parts of a company’s capital structure.
Focus on operating growth catalysts: The fund targets uses such as organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations, and refinancing, which can align new investments with business development needs.
Core portfolio operating scale is tracked: Investors can monitor the weighted average revenue and the weighted average revenue in EBITDA of core portfolio companies as operating indicators provided in the dataset.

Bear case

Credit performance risk across unsecured and mezzanine debt: Because it holds unsecured loans and mezzanine debt, outcomes can deteriorate if portfolio companies underperform, particularly when the instruments are less protected than first-lien secured debt.
Market and valuation risk in equity and structured-product holdings: Since it invests in equity securities, structured products, and non-control structured equity, unfavorable market moves or changes in portfolio-company conditions can impact investment values.

Valuation — source: SEC EDGAR (first-party)
Price	$16.72
Market Cap	$1.59B
P/E Ratio	14.8
EV / EBITDA	15.6
Price / Book	1.03
Price / Sales	3.73
DCF Value (model)	$20.56
DCF Upside vs Price	23.0%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$449.06M
Net Margin	38.0%
Revenue Growth (YoY)	-19.7%
EPS Growth (YoY)	-169.2%

Valuation vs Sector & Industry
Stock P/E	14.8
Sector P/E (Financial Services)	8.9
Industry P/E (Asset Management)	8.9
vs Sector	66.1%
vs Industry	65.6%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	STRS OHIO ($79.91M)
Institutional Holders Tracked	10

Company
Sector	Financial Services
Industry	Asset Management
CEO	Robert Stanley
Country	US
IPO Date	2014-03-21

Related Companies (Business model: Closed-End Fund; 8 closest by market cap; US-domiciled)

Data as of 2026-07-24.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.