Is Blackstone Secured Lending Fund overvalued or undervalued?

As of 10 November 2022, the valuation grade for Blackstone Secured Lending Fund moved from attractive to very attractive, indicating a positive shift in its perceived value. The company is currently considered undervalued, with a P/E ratio of 11, which is lower than its peers such as Black Stone Minerals LP at 17.49 and Sitio Royalties Corp. at 29.49. Additionally, the EV to EBITDA ratio stands at 6.27, which is also competitive compared to its peers.
The company's return on capital employed (ROCE) is a strong 19.12%, and its return on equity (ROE) is 10.58%, reflecting solid profitability metrics. Despite recent stock performance lagging behind the S&P 500, with a year-to-date return of -4.24% compared to the S&P's 2.44%, the fundamental ratios suggest that Blackstone Secured Lending Fund presents a compelling investment opportunity at its current valuation.