Revenue: As of FY2025, the actual value is USD 449.06 M, beating the estimate of USD 443.19 M.EPS: As of FY2025, the actual value is USD 1.81, missing the estimate of USD 1.9925.EBIT: As of FY2025, the actual value is USD -81.49 M.Sixth Street Specialty Lending, Inc. announced its financial results for the year ended December 31, 2025. Detailed financial metrics such as revenue, net income, gross margin, operating profit, operating costs, operating cash flow, and free cash flow were not provided within the specific Form 8-K document .<h4>Net Investment Income (NII) and Net Income (NI)</h4>For the full year ended December 31, 2025, Sixth Street Specialty Lending, Inc. reported net investment income of $2.23 per share and net income of $1.81 per share . For the fourth quarter ended December 31, 2025, net investment income was $0.53 per share and net income was $0.32 per share . Excluding the impact of accrued capital gains incentive fee expenses, adjusted net investment income was $2.18 per share and adjusted net income was $1.76 per share for the full year 2025 . For the fourth quarter 2025, adjusted net investment income per share was $0.52 and adjusted net income per share was $0.30 .<h4>Return on Equity (ROE)</h4>The return on equity for the full year 2025 was 13.1% on a net investment income basis and 10.6% on a net income basis . Annualized ROE for the fourth quarter 2025 was 12.5% on a net investment income basis and 7.4% on a net income basis . On an adjusted basis, ROE for the full year 2025 was 12.7% (adjusted NII) and 10.3% (adjusted NI) . Annualized adjusted ROE for the fourth quarter 2025 was 12.0% (adjusted NII) and 7.0% (adjusted NI) .<h4>Net Asset Value (NAV)</h4>Reported NAV per share was $16.98 at December 31, 2025, a decrease from $17.14 at September 30, 2025 . The Company’s economic return for 2025, calculated as change in net asset value plus dividends paid in the year, was 10.9% .<h4>Dividends</h4>Sixth Street Specialty Lending, Inc. declared a base dividend of $0.46 per share for the first quarter of 2026, payable on March 31, 2026 . A supplemental dividend of $0.01 per share for the fourth quarter of 2025 was also announced, payable on March 20, 2026 . For 2025, total dividends declared were $2.05 per share, comprising a base dividend of $1.84 per share and a supplemental dividend of $0.21 per share .<h4>Investment Income and Net Expenses</h4>Total investment income for the full year 2025 was $449.1 million, down from $482.5 million in 2024, primarily due to a decrease in reference rates . For the three months ended December 31, 2025, total investment income was $108.2 million, compared to $123.7 million in the prior year quarter . Net expenses for the full year 2025 totaled $233.7 million, a decrease from $258.6 million in 2024, mainly due to a lower average interest rate on debt outstanding . Net expenses for the three months ended December 31, 2025, were $56.4 million, down from $64.9 million in the corresponding period of 2024 .<h4>Debt and Capital Resources</h4>As of December 31, 2025, cash and cash equivalents totaled $19.7 million, including $16.7 million of restricted cash . The total principal value of debt outstanding was $1,763.9 million . The Company had $1,139.3 million of undrawn capacity on its revolving credit facility, with aggregate commitments of $1,675 million . The weighted average interest rate on debt outstanding was 6.0% for the three months ended December 31, 2025, a decrease from 6.3% for the prior quarter . The debt-to-equity ratio was 1.10x at December 31, 2025, down from 1.15x at September 30, 2025 . The funding mix at December 31, 2025, consisted of 71% unsecured and 29% secured debt . The nearest debt maturity is $300 million in August 2026, and the weighted average remaining maturity on debt is approximately 3.42 years .<h4>Portfolio and Investment Activity</h4>New investment commitments for the full year 2025 totaled $1,082.2 million, a decrease from $1,242.9 million in 2024 . The principal amount of new investments funded for the full year 2025 was $894.0 million across 20 new and 16 existing portfolio companies, plus structured credit investments . Exits and repayments amounted to $1,196.1 million for the full year 2025 . For the fourth quarter 2025, new investment commitments totaled $242.4 million, and $196.7 million in new investments were funded . As of December 31, 2025, the Company held investments in 143 portfolio companies with an aggregate fair value of $3,347.3 million . The portfolio’s fair value composition at December 31, 2025, was 89.2% first-lien debt, 0.9% second-lien debt, 1.8% mezzanine debt, 5.2% equity and other investments, and 2.9% structured credit investments . 96.3% of debt investments in the portfolio bore interest at floating rates, with all of these subject to reference rate floors . The weighted average total yield of debt and income-producing securities at fair value was 11.1% (11.3% at amortized cost) at December 31, 2025 . Non-accrual investments represented 0.6% of the portfolio at fair value as of December 31, 2025 .<h4>Joint Venture</h4>During Q4 2025, affiliates of Sixth Street, including Sixth Street Specialty Lending, Inc., formed Structured Credit Partners JV, LLC (SCP), a joint venture focused on investing in broadly syndicated first lien senior secured loans . Sixth Street Specialty Lending, Inc.’s total commitment to SCP is $200 million, though no capital had been contributed as of December 31, 2025 .<h4>Outlook / Guidance</h4>No specific outlook or guidance statements were found within the provided reference text .

Sixth Street Specialty Lending | 8-K: FY2025 Revenue Beats Estimate at USD 449.06 M