Oaktree Specialty Lending Corp (OCSL)
Oaktree Specialty Lending Corporation is a business development company. The fund specializing in investments in middle market, bridge financing, first and second lien debt financing, unsecured and mezzanine loan, mezzanine debt, senior and junior secured debt, expansions, sponsor-led acquisitions, preferred equity, and management buyouts in small and mid-sized companies. It seeks to invest in education services, business services, retail and consumer, healthcare, manufacturing, food and restaurants, construction and engineering. The firm also seeks investment in media, advertising sectors, software, IT services, pharmaceuticals, biotechnology, real estate management and development, chemicals, machinery, and internet and direct marketing retail sectors. It invests between $5 million to $75 million principally in the form of one-stop, first lien, and second lien debt investments, which may include an equity co-investment component in companies. The firm invest in companies having enterprise value between $20 million and $150 million and EBITDA between $3 million and $50 million. The fund has a hold size of up to $75 million and may underwrite transactions up to $100 million. It primarily invests in North America. The fund seeks to be a lead investor in its portfolio companies.
- Symbol
- OCSL
- Exchange
- Nasdaq
- Sector
- Financial Services
- Industry
- Asset Management
- Market cap
- $1.09B
- 52 week range
- 10.63 - 14.31
Valuation
- Share price
- $12.16 (close of 2026-09-23)
- P/E (TTM)
- 25.77x
- Price to book
- 0.79x
- Price to free cash flow
- 10.27x
- Enterprise value
- $2.49B
- Book value per share
- $15.70
Price performance
| Period | Change |
|---|
| 1 day | -2.41% |
| 5 days | -1.78% |
| 1 month | -6.39% |
| 3 months | +5.28% |
| 6 months | +7.23% |
| Year to date | -4.55% |
| 1 year | -6.10% |
| 3 years | -39.38% |
| 5 years | -44.01% |
| 10 years | -29.14% |
| All time | -66.56% |
Profitability and growth
- Return on equity
- 2.31%
- Return on assets
- 1.13%
- Net income growth
- -41.42%
- Free cash flow growth
- 1097.17%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 9.74%
- Net debt to EBITDA
- 9.65x
Latest reported year
- Period end
- 2025-09-30
- Fiscal year
- 2025
- EBITDA
- $149.87M
- Net income
- $33.92M
- Earnings per share
- $0.39
- Interest expense
- $115.84M
- Shares outstanding
- 86.08M
Income statement by year
| Period end | Net income | EPS |
|---|
| 2025-09-30 | $33.92M | $0.39 |
| 2024-09-30 | $57.91M | $0.72 |
| 2023-09-30 | $117.33M | $1.63 |
| 2022-09-30 | $29.22M | $0.48 |
| 2021-09-30 | $237.26M | $4.39 |
Margins and returns by year
| Period end | Return on equity |
|---|
| 2025-09-30 | 2.31% |
| 2024-09-30 | 3.89% |
| 2023-09-30 | 7.74% |
| 2022-09-30 | 2.35% |
| 2021-09-30 | 18.07% |
Cash and debt by year
| Period end | Cash | Debt |
|---|
| 2025-09-30 | $79.63M | $1.49B |
| 2024-09-30 | $63.97M | $1.64B |
| 2023-09-30 | $136.45M | $1.60B |
| 2022-09-30 | $23.53M | $1.30B |
Free cash flow by year
| Period end | Free cash flow |
|---|
| 2025-09-30 | $228.37M |
| 2024-09-30 | $19.08M |
| 2023-09-30 | $228.76M |
| 2022-09-30 | $22.39M |
| 2021-09-30 | $-230.52M |
Dividend history
- Most recent payment
- 2026-09-15
- Paid in the last twelve months
- $1.47
| Payment date | Dividend per share |
|---|
| 2026-09-15 | $0.33 |
| 2026-06-15 | $0.34 |
| 2026-03-16 | $0.40 |
| 2025-12-15 | $0.40 |
| 2025-09-15 | $0.40 |
| 2025-06-16 | $0.42 |
| 2025-03-17 | $0.47 |
| 2024-12-16 | $0.55 |
Investor relations
Next earnings report
- Next confirmed report
- 2026-11-17
- Consensus EPS estimate
- $0.34
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-08-05 | Jun/2026 | $0.36 |
| 2026-05-05 | - | - |
| 2026-02-04 | - | - |
| 2025-11-18 | - | - |
| 2025-08-05 | - | - |
| 2025-05-01 | - | - |
| 2025-02-04 | - | - |
| 2024-11-19 | - | - |
Filings and sources
- Company website
- oaktreespecialtylending.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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Understanding these figures
Price-to-earnings ratio · Discounted cash flow · Free cash flow · Earnings per share · Return on equity · Gross margin vs net margin · Reading a balance sheet · Debt and leverage · Dividend yield · Insider transactions and Form 4 · How to read a stock chart
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