BXSL
Blackstone Secured Lending Fund
BXSL has lower modeled downside risk, despite its lower overall score.
SOFI
SoFi Technologies, Inc.
SOFI has the edge over BXSL overall, supported by stronger valuation and stronger fundamentals.
BXSL Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| N/A | |
| N/A |
BXSL's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like BXSL.
SOFI Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| N/A | |
| N/A |
SOFI's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like SOFI.
BXSL PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 8x | $9.65 | -59% |
| Forward | 9.3x | $23.67 | — |
| Fair | 9.4x | $11.30 | -52% |
| Expensive | 11x | $12.62 | -47% |
| Current | 20x | $23.67 | — |
Historical ranges are pointers, not guarantees.
BXSL's PE is in its expensive range at 20x. On analysts' estimates for next year's earnings, today's price would be 9.3x, in its fair range.
SOFI PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 19x | $15.63 | — |
| Current | 28x | $15.63 | — |
| Cheap | 33x | $18.24 | +17% |
| Fair | 43x | $23.82 | +52% |
| Expensive | 53x | $29.74 | +90% |
Historical ranges are pointers, not guarantees.
SOFI has the edge over BXSL in the historical PE scenario, which offers more potential upside but is not a forecast.
BXSL Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Decline | |
| Decline | |
| Strongly weakening | |
| Limited | |
| Moderate |
Analysts expect BXSL's earnings and revenue to decline, with profitability weakening.
SOFI Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
SOFI has the edge over BXSL on the outlook, with more favorable earnings and revenue expectations.
BXSL Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.54 | +111% |
| Q3 2026 | $1.20 | -55% |
| Q2 2026 | $1.27 | -55% |
| Q1 2026 | $1.91 | -39% |
| Q4 2025 | $2.46 | -29% |
| Q3 2025 | $2.64 | -27% |
| Q2 2025 | $2.82 | -27% |
| Q1 2025 | $3.15 | -16% |
| Q4 2024 | $3.45 | -5.5% |
BXSL's earnings per share have fallen from their peak: $1.20 over the past year, against $6.63 in early 2021.
SOFI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.82 | +47% |
| Q3 2026 | $0.56 | 0% |
| Q2 2026 | $0.49 | -2% |
| Q1 2026 | $0.45 | +4.7% |
| Q4 2025 | $0.39 | 0% |
| Q3 2025 | $0.56 | +367% |
| Q2 2025 | $0.50 | +$0.72 |
| Q1 2025 | $0.43 | +$0.72 |
| Q4 2024 | $0.39 | +$0.75 |
SOFI has the edge over BXSL on earnings, with more consistent year-over-year improvement.
BXSL Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2022 | $118.4M | -1.9% |
| Q1 2022 | $142.5M | +23% |
| Q4 2021 | $157.6M | +23% |
| Q3 2021 | $117.1M | -36% |
| Q2 2021 | $120.7M | -48% |
| Q4 2020 | $127.9M | +140% |
SOFI has the stronger quarterly revenue trend. Revenue is down 1.9% for BXSL versus up 44% for SOFI.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2022 | 67% | +8 points |
| Q1 2022 | 76% | +11 points |
| Q4 2021 | 78% | +11 points |
| Q3 2021 | 80% | +49 points |
| Q2 2021 | 59% | +38 points |
| Q1 2021 | 66% | N/A |
| Q4 2020 | 67% | +3.5 points |
| Q3 2020 | 31% | N/A |
BXSL's operating margin was 67% last quarter, up 8 points from the same quarter a year ago.
SOFI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.4B | +44% |
| Q2 2026 | $1.2B | +43% |
| Q1 2026 | $1.1B | +43% |
| Q4 2025 | $1B | +40% |
| Q3 2025 | $961.6M | +38% |
| Q2 2025 | $854.9M | +43% |
| Q1 2025 | $771.8M | +20% |
| Q4 2024 | $734.1M | +19% |
SOFI's revenue has grown year over year every quarter since mid-2022: $1.4B last quarter, up 44% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 23% | +7.5 points |
| Q2 2026 | 17% | +3.6 points |
| Q1 2026 | 18% | +7.8 points |
| Q4 2025 | 18% | +9.9 points |
| Q3 2025 | 15% | +6.3 points |
| Q2 2025 | 13% | +11 points |
| Q1 2025 | 10% | -4.3 points |
| Q4 2024 | 8.2% | -0.2 points |
SOFI's operating margin was 23% last quarter, up 7.5 points from the same quarter a year ago, near the top of its range since 2021.
BXSL Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $479.3M | +$911.9M |
| Q2 2026 | $561M | +$782M |
| Q1 2026 | $249.3M | -41% |
| Q4 2025 | -$229.7M | +$674.2M |
| Q3 2025 | -$432.6M | +$85.1M |
| Q2 2025 | -$221.1M | +$488.1M |
| Q1 2025 | $424.7M | +$820.2M |
| Q4 2024 | -$903.9M | -$775.9M |
BXSL has the edge over SOFI on cash generation, producing positive trailing cash flow while its opponent burns cash.
SOFI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$3.1B | -$1.7B |
| Q2 2026 | -$4B | -$2.5B |
| Q1 2026 | -$2.4B | -$2.4B |
| Q4 2025 | -$1.1B | -$815.2M |
| Q3 2025 | -$1.4B | -$149M |
| Q2 2025 | -$1.5B | -$1B |
| Q1 2025 | -$31.1M | -104% |
| Q4 2024 | -$242.4M | +$39.9M |
SOFI's free cash flow was −$10.5B over the past year, against −$3.2B the year before. Free cash flow isn't a meaningful measure for financial services companies like SOFI.
BXSL Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +333K shares |
| 1 year | +1.1% | +2.4M shares |
| 3 years | +37% | +63M shares |
| 5 years | +39% | +65.3M shares |
| Available history | +367% | +183M shares |
BXSL has the edge over SOFI on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2023 | — |
| Q3 2023 | — |
| Q4 2022 | $47.4M |
| Q2 2022 | — |
| Q1 2022 | — |
| Q4 2021 | — |
| Q3 2021 | — |
| Q2 2021 | — |
SOFI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.4% | +5.8M shares |
| 1 year | +5.2% | +66.8M shares |
| 3 years | +43% | +407M shares |
| 5 years | +272% | +993M shares |
SOFI has 1.4B diluted shares, up 5.2% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | — |
| Q1 2022 | — |
| Q4 2021 | — |
| Q3 2021 | — |
BXSL Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2022 | 12.4x | High |
| Q1 2022 | 10.6x | High |
| Q4 2021 | 10.0x | High |
| Q3 2021 | 10.0x | High |
| Q2 2021 | 12.9x | High |
| Q1 2021 | 20.0x | High |
BXSL's net debt is about 12 years of its operating earnings (EBITDA), down from 13 years a year ago. Net leverage isn't a meaningful measure for financial services companies like BXSL.
SOFI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -2.4x | Net Cash |
| Q2 2026 | -3.1x | Net Cash |
| Q1 2026 | -3.8x | Net Cash |
| Q4 2025 | -6.5x | Net Cash |
| Q3 2025 | -5.2x | Net Cash |
| Q2 2025 | -4.0x | Net Cash |
| Q1 2025 | -4.9x | Net Cash |
| Q4 2024 | -5.8x | Net Cash |
SOFI has more cash than debt. Net leverage isn't a meaningful measure for financial services companies like SOFI.
BXSL Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.5 | Neutral |
| Stochastic | 33.0 | Neutral |
BXSL's weekly RSI is 46 (neutral) and its Stochastic is 33 (neutral).
SOFI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 43.1 | Neutral |
| Stochastic | 41.5 | Neutral |
SOFI's weekly RSI is 43 (neutral) and its Stochastic is 41 (neutral).
BXSL PE vs Financial Services Sector
| Metric | BXSL | Sector median | Relative |
|---|---|---|---|
| PE | 20x | 13x | 52% above |
| PE % | 100 | 64 | 36 pts above |
BXSL has the edge over SOFI on valuation relative to its sector.
SOFI PE vs Financial Services Sector
| Metric | SOFI | Sector median | Relative |
|---|---|---|---|
| PE | 28x | 13x | 114% above |
| PE % | 2 | 61 | 59 pts below |
SOFI is trading at 28x earnings, a 114% premium to the Financial Services sector's median of 13x.
BXSL Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $23.8 | 0.5% below |
| 20 week MA | $24.0 | 1.5% below |
| 50 week MA | $24.5 | 3.3% below |
| 100 week MA | $27.5 | 14% below |
| 200 week MA | $28.0 | 15% below |
BXSL is in a downtrend: it's below all five of its weekly moving averages, and 15% below its 200-week average.
SOFI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $15.7 | 0.7% below |
| 20 week MA | $17.0 | 7.8% below |
| 50 week MA | $18.9 | 17% below |
| 100 week MA | $18.9 | 17% below |
| 200 week MA | $13.5 | 16% above |
SOFI has the edge over BXSL on trend strength, trading above more of its moving averages.
BXSL Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $29.0 | $37.6 | +30% |
| 2022 | $37.6 | $22.9 | -39% |
| 2023 | $22.9 | $27.6 | +20% |
| 2024 | $27.6 | $33.3 | +20% |
| 2025 | $33.3 | $27.2 | -18% |
| 2026 YTD | $27.2 | $23.7 | -13% |
BXSL has the edge over SOFI on returns for 2026, with the stronger performance.
SOFI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.4 | $12.4 | +19% |
| 2021 | $12.4 | $15.1 | +22% |
| 2022 | $15.1 | $4.61 | -69% |
| 2023 | $4.61 | $9.95 | +116% |
| 2024 | $9.95 | $16.0 | +61% |
| 2025 | $16.0 | $27.1 | +69% |
| 2026 YTD | $27.1 | $15.6 | -42% |
SOFI's yearly returns have swung widely, from +116% in 2023 to −69% in 2022. It's down 42% so far in 2026.