Oaktree Specialty Lending Corp.

OCSL Financial Asset Management

Oaktree Specialty Lending Corp.’s revenue for fiscal 2025 (year ended September 2025) was $316.8 million, down 17.0% from fiscal 2024. In the quarter to June 2026, revenue fell 7.76%, EPS fell 20.5%, free cash flow grew 173.1% and total debt was flat, each against the same quarter a year earlier.

11.57 0.21 −1.78%
Market cap
$1.0B
P/E
24.1×
Fwd P/E
22.2×
Dividend yield
12.1%
F-score
5/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.46%

Capital & Financial Ratios $m

Market Cap 1,040.00
Revenue 292.23
Net Income 42.24
Free Cash Flow 106.13
Net Debt 897.92
Current Ratio 0.19
Debt/Equity 0.68
P/E ratio 24.10
Fwd P/E 22.20
P/S ratio 3.49
P/B ratio 0.74
Past 5Y EPS Growth (14.23%) (below 0%: weak)
This Y EPS Growth (15.24%) (below 0%: weak)
Next Y EPS Growth (9.23%) (below 0%: weak)
Next Y revenue growth (10.23%) (below 0%: weak)
Next 5Y EPS Growth (7.57%) (below 0%: weak)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 72.72%
10-year low 10-year high
P/S against its own 10 years 22.19%
10-year low 10-year high
P/B against its own 10 years 17.36%
10-year low 10-year high

Dividends

Payout Ratio 2.92
Annual Dividend Rate 1.40
Annual Dividend Yield 12.10%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 1.42
0.40
0.30
0.30
2025 1.75
0.40
0.02
0.40
0.40
2024 2.20
0.55
0.55
0.55
0.55
2023 1.65
0.55
0.55
0.55
0.07
2022 2.03
0.48
0.50
0.51
0.54
2021 1.65
0.36
0.39
0.44
0.47
2020 1.22
0.29
0.29
0.32
0.33
2019 1.14
0.29
0.29
0.29
0.29
2018 1.11
0.26
0.29
0.29
0.29
2017 1.23
0.18
0.18
0.06
0.06
0.38
0.38
2016 2.22
0.18
0.18
0.18
0.18
0.18
0.18
0.18
0.18
0.18
0.18
0.18
0.06
0.18
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 146 79 80 40
Receivables 106 69 40 60
Inventory — — — —
Other — — — —
252 147 120 100
2023 2024 2025 Q'26
Payables 3 3 2 3
ST’ Debt — — — —
Other — — — —
764 765 588 531

Compound Annual Growth %

10y 5y 3y
Sales 1.78% 17.22% 6.47%
Cash Flow 4.56% 0.00% 116.85%
Earnings 8.22% (2.86%) 5.09%
Book Value 0.80% 9.89% 5.58%

Revenue $m

Dec Mar Jun Sep Year
’26 75 70 69 — —
’25 87 78 75 77 317
’24 98 94 95 95 382
’23 79 96 102 102 379
’22 65 64 63 70 263
’21 38 42 65 64 209
’20 31 34 34 44 143
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Dec Mar Jun Sep Year
’26 (83) 131 58 — —
’25 144 62 21 1 228
’24 1 (18) (60) 96 19
’23 (110) 46 49 244 229
’22 23 (91) 24 66 22
’21 16 (129) 77 (195) (231)
’20 (43) (78) (86) 55 (153)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Dec Mar Jun Sep Year
’26 (83) 131 58 — —
’25 144 62 21 1 228
’24 1 (18) (60) 96 19
’23 (110) 46 49 244 229
’22 23 (91) 24 66 22
’21 16 (129) 77 (195) (231)
’20 (43) (78) (86) 55 (153)
Fiscal quarters ending in the months shown.

EPS $

Dec Mar Jun Sep Year
’26 0.06 (0.21) 0.35 — —
’25 0.09 (0.42) 0.44 0.28 0.39
’24 0.14 0.12 0.01 0.45 0.72
’23 0.22 0.29 0.48 0.60 1.63
’22 0.66 0.24 (0.63) 0.21 0.48
’21 1.38 1.80 0.78 0.60 4.38
’20 0.30 (3.51) 2.55 1.50 0.84
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to September

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 13.20 11.70 12.24 12.60 6.99 16.41 17.58 17.70 14.95 12.44

Analyst estimates 2026–2028

Powerpack
High 19.56 17.73 15.42 17.25 16.98 22.86 23.43 21.48 21.64 16.29
People
People Employees — — — — — — — — — —
Revenue/emp, $m 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Income, $m
Income, $m Revenue 248 178 139 148 143 209 263 379 382 317
Gross margin, % 68.21 73.15 72.01 65.93 75.50 63.83 76.45 77.07 78.29 80.24
EBT (67) (197) 47 127 37 238 30 119 58 34
EBT margin, % (26.85) (110.68) 34.16 86.10 26.17 113.69 11.26 31.37 15.14 10.83
Net income (67) (197) 47 126 39 237 29 117 58 34
Depreciation 5 6 3 2 2 4 4 5 5 9
Per share, $
Per share, $ Revenue 5.04 3.78 2.95 3.14 3.05 3.87 4.32 5.26 4.75 3.68
Earnings (1.35) (4.17) 0.99 2.67 0.84 4.38 0.48 1.63 0.72 0.39
Cash flow 3.35 10.33 1.14 4.59 (3.25) (4.27) 0.37 3.17 0.24 2.65
Capex 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Free cash flow 3.35 10.33 1.14 4.59 (3.25) (4.27) 0.37 3.17 0.24 2.65
Book value 23.25 18.41 18.26 19.81 19.47 24.29 20.51 21.02 18.50 17.03
Shares, m 49 47 47 47 47 54 61 72 80 86
Valuation, ×
Valuation, × P/E 0.00 0.00 15.06 5.76 17.28 4.64 37.50 12.30 22.54 33.46
P/S 3.46 4.43 5.05 4.94 4.77 5.47 4.16 3.72 3.44 3.55
P/B 0.75 0.91 0.82 0.78 0.75 0.87 0.88 0.93 0.88 0.77
EV/Sales 5.48 6.45 7.81 5.91 6.55 8.37 6.35 5.68 5.66 6.27
EV/FCF 8.25 2.36 20.24 4.05 (6.13) (7.60) 74.47 9.42 113.32 8.69
Cash, $m
Cash, $m Operating cash flow 165 487 54 216 (153) (231) 22 229 19 228
Capex — — — — — — — — — —
Free cash flow 165 487 54 216 (153) (231) 22 229 19 228
Balance, $m
Balance, $m Working capital (413) (257) (245) (357) (373) (619) (669) (512) (618) (468)
Total debt 633 419 396 159 294 639 601 891 929 942
Net debt 503 359 383 143 255 607 575 745 850 862
Shareholders’ equity 1,142 868 858 931 915 1,313 1,246 1,516 1,488 1,466
Returns, %
Returns, % ROA (2.70) (9.95) 2.95 8.32 2.51 11.09 1.11 4.00 1.80 1.09
ROIC 6.13 6.24 4.82 5.84 5.25 4.25 6.83 8.08 8.00 6.68
ROE (5.33) (19.60) 5.42 14.11 4.25 21.30 2.28 8.50 3.86 2.30
Negative figures in brackets.

All 10 years →

Fiscal years to Sep 2025 · latest quarter Jun 2026

Charts ten years each

Oaktree Specialty Lending Corp. vs peers in Asset Management (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
MSDL Morgan Stanley Direct Lending Fund $1.1B 18.9× 11.6× −10.79% (below 0%: shrinking) −78.05% (below 0%: shrinking) +331.94% (above 0%: growing) 100.00% 79.95% Compare
OCSL Oaktree Specialty Lending Corp. $1.0B 24.1× 22.2× −7.76% (below 0%: shrinking) −20.45% (below 0%: shrinking) +173.07% (above 0%: growing) 94.24% 82.04%
GSBD Goldman Sachs BDC, Inc. $1.0B 16.8× 11.2× −7.97% (below 0%: shrinking) −38.24% (below 0%: shrinking) −69.26% (below 0%: shrinking) 100.00% 87.38% Compare
RPC Ridgepost Capital, Inc. $906.2M 31.8× 35.2× +11.29% (above 0%: growing) +133.33% (above 0%: growing) +108.29% (above 0%: growing) 100.00% 21.90% Compare
BBDC BARINGS BDC, INC. $900.5M 10.2× 9.2× −12.36% (below 0%: shrinking) −10.00% (below 0%: shrinking) +129.93% (above 0%: growing) 100.00% 77.28% Compare
PSEC Prospect Capital Corporation $870.1M 32.0× 6.4× −6.70% (below 0%: shrinking) n/m −475.83% (below 0%: shrinking) 74.95% 70.34% Compare
KBDC Kayne Anderson BDC, Inc. $834.1M 11.4× 9.9× −2.78% (below 0%: shrinking) −54.29% (below 0%: shrinking) −2,950.25% (below 0%: shrinking) 86.61% 84.68% Compare
VRTS Virtus Investment Partners, Inc. $813.9M 6.8× — (loss-making) −4.35% (below 0%: shrinking) +9.87% (above 0%: growing) −24.42% (below 0%: shrinking) 100.00% 13.57% Compare
FDUS Fidus Investment Corporation $773.1M 9.1× 9.1× +8.84% (above 0%: growing) −26.39% (below 0%: shrinking) −204.97% (below 0%: shrinking) 100.00% 68.28% Compare
Median of peers $885.3M 14.1× 9.9× −5.52% −26.39% −46.84% 100.00% 73.81%

All 120 Asset Management stocks →

Oaktree Specialty Lending Corp. (OCSL) key facts

  • Concern: Oaktree Specialty Lending Corp.’s revenue for fiscal 2025 (year ended September 2025) was $316.8 million, down 17.0% from fiscal 2024.
  • Oaktree Specialty Lending Corp. (OCSL) is an Asset Management company in the Financial sector, listed on Nasdaq.
  • As of October 16, 2026, OCSL traded at $11.57, a market capitalization of $1.0 billion.
  • Oaktree Specialty Lending Corp. pays an annual dividend of $1.40 per share, a yield of 12.1%.
  • Return on equity was 2.30% and debt-to-equity 0.68.
  • Its Piotroski F-score is 5 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Oaktree Specialty Lending Corp. (OCSL) Latest News

30 Dec

stockrow.com/OCSL · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com