BARINGS BDC, INC. (BBDC) vs Oaktree Specialty Lending Corp. (OCSL)

BARINGS BDC, INC. and Oaktree Specialty Lending Corp. are both Asset Management companies. Oaktree Specialty Lending Corp. is the larger, with a market value of $1.1B against $915.1M — 1.2× the size. BARINGS BDC, INC. trades at the lower P/E: 10.3× against 26.1×. BARINGS BDC, INC. grew revenue faster over the last twelve months: −8.46% against −12.6%. BARINGS BDC, INC. has the higher net margin (34.2% vs 14.5%) and the lower return on invested capital (0.00% vs 6.43%). Both pay a dividend; BARINGS BDC, INC. yields more (11.9% vs 11.2%). Across the 21 metrics below, BARINGS BDC, INC. leads on 17 and Oaktree Specialty Lending Corp. on 4.

Valuation

Metric BBDC OCSL Asset Management median
P/E 10.29 26.10 13.38
P/S 3.55 3.78 2.99
P/B 0.80 0.80 0.91
Price to free cash flow 3.48 10.40 7.79
EV/EBITDA — — —
EV/Sales — — —
Earnings yield 9.71% 3.83% 4.67%
Free cash flow yield 28.76% 9.62% 4.85%

Profitability

Metric BBDC OCSL Asset Management median
Gross margin 100.00% 82.16% 100.00%
Operating margin 0.00% 80.26% 27.27%
Net margin 34.18% 14.45% 11.89%
Free cash flow margin 102.10% 36.32% 5.96%
Return on equity 7.64% 2.95% 4.57%
Return on assets 3.23% 1.45% 1.40%
Return on invested capital 0.00% 6.43% 2.12%

Growth

Metric BBDC OCSL Asset Management median
Revenue growth (TTM) (8.46%) (12.55%) 7.26%
EPS growth (last fiscal year) (6.73%) (45.83%) (5.64%)
Revenue growth, 5-year CAGR 31.49% 17.22% 11.84%
Net income growth, 5-year CAGR 65.63% (2.86%) 0.00%

Health

Metric BBDC OCSL Asset Management median
Debt to equity 0.29 0.68 0.40
Current ratio 0.09 0.19 1.23
Net debt to EBITDA 0.69 3.34 1.06

Dividend

Metric BBDC OCSL Asset Management median
Dividend yield 11.89% 11.17% 6.43%
Payout ratio 1.22 2.92 0.91

Size

Metric BBDC OCSL Asset Management median
Market cap 915.14m 1.10b 692.54m

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