BXSL

Blackstone Secured

Fundamental data last updated:April 13, 2026

company profile

SECTOR

Financial Services

industry

Asset Management

Exchange

NYSE

County of HQ

United States

Next Earnings Date

05/06/26

Business Summary

Blackstone Secured operates as a credit-focused asset manager, deploying capital into secured lending strategies designed to generate income from structured credit and private debt instruments. Cash flow is driven primarily by interest income on originated or acquired loans, with spreads over funding costs determining core profitability. The firm’s competitive moat comes from credit underwriting expertise, scale advantages in sourcing proprietary deal flow, and alignment with institutional capital pools. Its ability to consistently originate secured loans and manage credit risk through cycles determines whether its sub-book valuation converts into durable shareholder returns.

VALUATION

P/E

9.4

Market Cap ($M USD)

$5,372

Forward P/E

8.6

PEG

-

PRICE TO SALES

8.7

PRICE TO BOOK

0.9

EV / EBITDA

-

5-Year Average P/E

DIVIDEND

Yield

13.30%

Annual Payout

$3.08

Payout Ratio

125.20%

Consecutive Years of Dividend Growth

0

5-Year Dividend Growth Rate

-

Financial Health & Profitability

Earnings Per Share

$2.46

Next Year EPS Growth Estimate

$2.69

Next Year Revenue Growth Estimate

-0.60%

Return on Equity (ROE)

9.00%

Operating Margin

-

Debt-to-Equity

1.3

Piotroski F-Score

1

Altman Z-Score

-

Return on Invested Capital (ROIC)

6.50%%

Current Ratio

-

Quick Ratio

Gainseekers Quantitative Analysis

Summary

BXSL screens statistically cheap with a 9.4 P/E and 8.6 Forward P/E, implying the market is pricing in stagnation or latent credit risk rather than durable growth. A Price/Book of 0.9 suggests the market values the company below its net asset base, a classic deep value signal in asset management, but the -0.60% Return on Equity and weak 1 Piotroski F-Score indicate deteriorating fundamentals beneath that discount. Operating Margin at 9.00% is modest for the sector, and without a listed Altman Z-Score or Debt/Equity, balance sheet clarity is lacking, which adds uncertainty. This is a statistically inexpensive stock, but the quality metrics do not currently justify calling it safe—it’s cheap for a reason.

AI Exposure / Tech Reliance

As an Asset Management firm in Financial Services, BXSL’s exposure to AI is indirect but relevant through portfolio analytics, risk modeling, and underwriting automation. Firms in this industry that adopt advanced data infrastructure can enhance credit selection and improve ROIC, which currently stands at 6.50%. The competitive edge will not come from building AI products, but from using technology to sharpen underwriting discipline and portfolio surveillance.

The Bull Case

A value or GARP investor could argue that the combination of a 0.9 Price/Book and 8.6 Forward P/E creates a compelling entry point, particularly with EPS Next Year estimated at $2.46. The 6.50% ROIC exceeds the -0.60% ROE, implying capital deployment at the investment level may be more productive than headline equity returns suggest. Institutional Ownership at $26.88 indicates some professional sponsorship, and a 9.00% Operating Margin provides a base level of operating profitability. If earnings normalize and the forward multiple rerates even modestly, multiple expansion alone could drive upside without requiring heroic growth assumptions.

The Bear Case

The red flags are substantial. A Piotroski F-Score of 1 is a severe warning sign, typically associated with financial deterioration and weak balance sheet dynamics. Return on Equity at -0.60% signals value destruction, and the absence of a reported Debt/Equity ratio removes transparency in a sector where leverage defines survival. With PEG Forward not provided and Sales Growth Next Year listed as $2.69 without a percentage context, growth visibility is questionable, and a Payout Ratio of $3.08 alongside a 13.30% Dividend Per Share USD figure raises sustainability concerns. This profile resembles a yield trap more than a clean deep value recovery.

Market Sentiment & Smart Money

Short Interest %

3.90%

Analyst Consensus

2.17

Average Analyst Price Target

$26.88

Institutional Ownership %

43.90%

1-Year Beta

0.6

Insider Buying % (6 Mo)

8.70%%

Distance to 52-Week High

70.50%%

Distance to 52-Week Low

102.90%%