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Blackstone Secured Lending FundBXSL +1.39%51 Pretax Margin % is 72.40% as of Mar. 2026, which is 26% below its 10-year median of 97.44. GuruFocus rates BXSL with a GF Score™ of 51/100 and a GF Value™ of $31.84 (Modestly Undervalued). The stock has 9 warning signs investors should review. Among 1,574 Asset Management companies, Blackstone Secured Lending Fund ranks better than 54.76% on this metric.
The historical rank and industry rank for Blackstone Secured Lending Fund's Pretax Margin % or its related term are showing as below:
BXSL'
s Pretax Margin % Range Over the Past 10 Years
Min: 91.27 Med: 97.44 Max: 125.68
Current: 93.85
BXSL's Pretax Margin % is ranked better than 54.76% of 1574
companies
in the Asset Management industry
Industry Median: 90.01
vs BXSL: 93.85
Blackstone Secured Lending Fund (NYSE:BXSL) Pretax Margin % Explanation
The pretax margin, as know as pretax profit margin, is widely used to measure the operating efficiency of a company before deducting taxes.
The pretax margin is sometimes preferred over the net margin as tax expenditures can make profitability comparisons between companies misleading.
It is a useful tool to compare companies operating in the same sector and less effective when comparing companies from other sectors as each industry generally has different operating expenses and sales patterns.
The long term trend of the pretax margin is a good indicator of the competitiveness and health of the business.
Blackstone Secured Lending Fund Pretax Margin % Related Terms
Blackstone Secured Lending Fund Pretax Margin % 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.
Blackstone Secured Lending Fund Pretax Margin % Chart
BXSL vs OBDC, MAIN, HASI: Pretax Margin % Comparison
For the Asset Management subindustry, Blackstone Secured Lending Fund's Pretax Margin %, along with its competitors' market caps and Pretax Margin % 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.
Blackstone Secured Lending Fund Pretax Margin % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Blackstone Secured Lending Fund's Pretax Margin % distribution charts can be found below:
* The bar in red indicates where Blackstone Secured Lending Fund's Pretax Margin % 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.
Blackstone Secured Lending Fund (BXSL) has a Pretax Margin % of 72.40% as of Mar. 2026. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Blackstone Secured Lending Fund and its competitors. This is 26% below median its historical median of 97.44. Over the past decade, Blackstone Secured Lending Fund's Pretax Margin % has ranged from 91.27 to 125.68. According to the industry distribution chart, Blackstone Secured Lending Fund ranks #712 out of 1574 companies in the Asset Management industry, placing it in the top 45.2%.
Is Blackstone Secured Lending Fund's Pretax Margin % too high?
Blackstone Secured Lending Fund's current Pretax Margin % of 72.40% is 26% below median its 10-year median of 97.44. Over the past 10 years, this metric has ranged from a low of 91.27 to a high of 125.68. The Asset Management industry median Pretax Margin % is 90.01. Blackstone Secured Lending Fund's value of 72.40% is 19.6% below this industry median. Based on the distribution chart, Blackstone Secured Lending Fund ranks #712 out of 1574 companies in the Asset Management industry, which is above the industry midpoint. Overall, Blackstone Secured Lending Fund has a GF Score™ of 51/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Blackstone Secured Lending Fund's Pretax Margin % compare to OBDC and MAIN?
According to the Asset Management industry distribution chart, Blackstone Secured Lending Fund ranks #712 out of 1574 companies for Pretax Margin %. This puts Blackstone Secured Lending Fund in the upper half of its industry. The industry median Pretax Margin % is 90.01. Blackstone Secured Lending Fund's value of 72.40% is 19.6% below this benchmark. Historically, Blackstone Secured Lending Fund's own Pretax Margin % has ranged from 91.27 to 125.68 over the past decade. While the company's 10-year median is 97.44 vs. the industry median of 90.01, Blackstone Secured 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 Pretax Margin % for an Asset Management company?
The median Pretax Margin % among Asset Management companies is 90.01, based on 1,574 companies in the industry. Companies in the top quartile (top 25%) have a Pretax Margin % significantly above this median, while those in the bottom quartile fall well below. However, Pretax Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Blackstone Secured Lending Fund's current Pretax Margin % of 72.40% is 19.6% 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 Pretax Margin % mean?
A high Pretax Margin % can signal that a stock is expensive relative to its fundamentals. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Blackstone Secured Lending Fund and its competitors. For the Asset Management industry, the median Pretax Margin % is 90.01 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Blackstone Secured Lending Fund's current Pretax Margin % is 72.40%, which is 26% below median its own 10-year median of 97.44. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Blackstone Secured Lending Fund stock overvalued right now?
Based on GuruFocus' analysis, Blackstone Secured Lending Fund (BXSL) is currently considered Modestly Undervalued. The stock's GF Value™ is $31.84, compared to a current price of $23.32 — trading 26.8% below its estimated fair value. The current Pretax Margin % is 72.40%, which is 26% below median its 10-year median of 97.44 and 19.6% below the Asset Management industry median of 90.01. Blackstone Secured Lending Fund's overall GF Score™ is 51/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Pretax Margin % calculated?
Pretax Margin % is calculated from a company's financial statements. For Blackstone Secured Lending Fund (BXSL), the current Pretax Margin % is 72.40% as of Mar. 2026. 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.
Is Blackstone Secured Lending Fund (BXSL) Overvalued in 2026?
Based on GuruFocus' analysis, Blackstone Secured Lending Fund stock appears to be undervalued.
The current stock price of $23.32 is trading 26.8% below its estimated GF Value™ of $31.84.
GuruFocus considers Blackstone Secured Lending Fund to be Modestly Undervalued.
Key valuation signals for BXSL:
Pretax Margin %: 72.40% (26% below median its 10-year median of 97.44)
GF Value™: $31.84 vs. price of $23.32 (26.8% below fair value)
Industry Position: 19.6% below the Asset Management median (#712 of 1574)
No single metric tells the full story. See the BXSL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Blackstone Secured Lending Fund Business Description
Blackstone Secured Lending Fund is a non-diversified, closed-end management investment company. The investment objectives of the company are to generate current income and, to a lesser extent, long-term capital appreciation. The company seeks to achieve its investment objectives by investing in originated loans and other securities, including syndicated loans of private U.S. companies, typically in the form of first lien senior secured and unitranche loans, unsecured and subordinated loans, and other securities. The company operates as a single reportable segment and derives revenues from investing in originated loans and other securities, including broadly syndicated loans, of U.S. private companies.
51GF Score
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