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FS Specialty Lending FundFSSL -0.45%13 Cash-to-Debt is 0.29 as of Dec. 2025, which is at its 10-year median of 0.29. GuruFocus rates FSSL with a GF Score™ of 13/100. The stock has 3 warning signs investors should review. Among 1,435 Asset Management companies, FS Specialty Lending Fund ranks worse than 72.68% on this metric.
Cash to Debt Ratio measures the financial strength of a company. It is calculated as a company's cash, cash equivalents, and marketable securities divide by its debt. FS Specialty Lending Fund's cash to debt ratio for the quarter that ended in Dec. 2025 was 0.29.
If Cash to Debt ratio is less than 1, the company cannot pay off its debt using the cash in hand. Here we can see, FS Specialty Lending Fundcouldn't pay off its debt using the cash in hand for the quarter that ended in Dec. 2025.
The historical rank and industry rank for FS Specialty Lending Fund's Cash-to-Debt or its related term are showing as below:
FSSL'
s Cash-to-Debt Range Over the Past 10 Years
Min: 0.29 Med: 0.29 Max: 0.29
Current: 0.29
During the past 12 years, FS Specialty Lending Fund's highest Cash to Debt Ratio was 0.29. The lowest was 0.29. And the median was 0.29.
FSSL's Cash-to-Debt is ranked worse than 72.68% of 1435
companies
in the Asset Management industry
Industry Median: 5.15
vs FSSL: 0.29
FS Specialty Lending Fund (NYSE:FSSL) Cash-to-Debt Explanation
If Cash to Debt ratio is greater than 1, the company can pay off its debt using the cash in hand. If it is smaller than 1, it means the company has more debt than the cash in hands. In this case, it is important to look the the company's Interest Coverage. Ben Graham requires that a company must have an Interest Coverage of at least 5.
FS Specialty Lending Fund Cash-to-Debt Related Terms
FS Specialty Lending Fund Cash-to-Debt Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Note: An indication of "No Debt" does not necessarily mean that the company has no debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.
For the Asset Management subindustry, FS Specialty Lending Fund's Cash-to-Debt, along with its competitors' market caps and Cash-to-Debt data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
FS Specialty Lending Fund Cash-to-Debt vs Asset Management Industry
For the Asset Management industry and Financial Services sector, FS Specialty Lending Fund's Cash-to-Debt distribution charts can be found below:
* The bar in red indicates where FS Specialty Lending Fund's Cash-to-Debt falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
FS Specialty Lending Fund (FSSL) has a Cash-to-Debt of 0.29 as of Dec. 2025. This is near median its historical median of 0.29. Over the past decade, FS Specialty Lending Fund's Cash-to-Debt has ranged from 0.29 to 0.29. According to the industry distribution chart, FS Specialty Lending Fund ranks #1043 out of 1435 companies in the Asset Management industry, placing it in the top 72.7%.
Is FS Specialty Lending Fund's Cash-to-Debt too high?
FS Specialty Lending Fund's current Cash-to-Debt of 0.29 is near median its 10-year median of 0.29. Over the past 10 years, this metric has ranged from a low of 0.29 to a high of 0.29. The Asset Management industry median Cash-to-Debt is 5.15. FS Specialty Lending Fund's value of 0.29 is 94.4% below this industry median. Based on the distribution chart, FS Specialty Lending Fund ranks #1043 out of 1435 companies in the Asset Management industry, which is below the industry midpoint. Overall, FS Specialty Lending Fund has a GF Score™ of 13/100, reflecting its overall financial health beyond just this single metric.
How does FS Specialty Lending Fund's Cash-to-Debt compare to OXLC and STK?
According to the Asset Management industry distribution chart, FS Specialty Lending Fund ranks #1043 out of 1435 companies for Cash-to-Debt. This places FS Specialty Lending Fund in the lower half of its industry. The industry median Cash-to-Debt is 5.15. FS Specialty Lending Fund's value of 0.29 is 94.4% below this benchmark. Historically, FS Specialty Lending Fund's own Cash-to-Debt has ranged from 0.29 to 0.29 over the past decade. While the company's 10-year median is 0.29 vs. the industry median of 5.15, FS Specialty Lending Fund has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cash-to-Debt for an Asset Management company?
The median Cash-to-Debt among Asset Management companies is 5.15, based on 1,435 companies in the industry. Companies in the top quartile (top 25%) have a Cash-to-Debt significantly above this median, while those in the bottom quartile fall well below. However, Cash-to-Debt should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. FS Specialty Lending Fund's current Cash-to-Debt of 0.29 is 94.4% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cash-to-Debt mean?
A high Cash-to-Debt can signal that a stock is expensive relative to its fundamentals. For the Asset Management industry, the median Cash-to-Debt is 5.15 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. FS Specialty Lending Fund's current Cash-to-Debt is 0.29, which is near median its own 10-year median of 0.29. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is FS Specialty Lending Fund stock overvalued right now?
FS Specialty Lending Fund (FSSL) has a current Cash-to-Debt of 0.29. The current Cash-to-Debt is 0.29, which is near median its 10-year median of 0.29 and 94.4% below the Asset Management industry median of 5.15. FS Specialty Lending Fund's overall GF Score™ is 13/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cash-to-Debt calculated?
Cash-to-Debt is calculated from a company's financial statements. For FS Specialty Lending Fund (FSSL), the current Cash-to-Debt is 0.29 as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
FS Specialty Lending Fund is a United States-based externally managed, non-diversified, closed-end management investment company. The company's investment objectives are to generate current income and, to a lesser extent, long-term capital appreciation by investing mainly in private and public credit in a broad set of industries, sectors, and sub-sectors. Its investment policy is to invest mainly in a portfolio of secured and unsecured floating and fixed-rate loans, bonds, and other types of credit instruments, which, under normal circumstances, will represent at least eighty percent of the Company's total assets.
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