• Blackstone Secured Lending Fund average operating margin for 2024 was 54.93%, a 4.12% decline from 2023.
• Blackstone Secured Lending Fund average operating margin for 2023 was 57.29%, a 5.29% decline from 2022.
• Blackstone Secured Lending Fund average operating margin for 2022 was 60.49%, a 3.31% decline from 2021.

Operating margin can be defined as operating margin measurement of what proportion of a company's revenue is left over after paying for variable costs of production such as wages, raw materials, etc.