8-K Announcements
6Material company update
May 5, 2026·SEC
Material company update
Mar 4, 2026·SEC
Material company update
Feb 4, 2026·SEC
Oaktree Specialty Lending Corporation(OCSL)Earnings, Financials & Key Ratios
OCSL•NASDAQ
$12.03
30.8× P/E·Price updated Jul 7, 2026
AboutOaktree Specialty Lending Corporation is a business development company 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, and media and advertising 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 with 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.Show more
- EBITDA$151M+161.3%
- Net Income$34M-41.4%
- EPS (Diluted)0.39-45.8%
- Gross Margin87.21%+181.9%
- EBITDA Margin50.39%+62.4%
- Operating Margin50.39%+62.4%
- Net Margin11.32%-63.6%
- ROE2.3%-40.4%
OCSL Price & Volume
Oaktree Specialty Lending Corporation (OCSL) stock price & volume — 10-year historical chart
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Persistent Portfolio Volatility Masks Credit Risk Exposure
Investment Thesis • Updated 2026Q2
VerdictNegative: The company's reliance on external funding to support dividend distributions
Growth:Mixed
Profitability:Strained
Financial:Strained
Cash Flow:Mixed
Primary Risk:Portfolio valuation volatility
Key Thesis Takeaways
- Oaktree Specialty Lending Corporation faces significant fundamental headwinds characterized by extreme earnings volatility and a deteriorating liquidity profile.
- While the 14.7% dividend yield may attract income-focused investors, the reliance on external financing to sustain payouts—evidenced by negative operating cash flows in periods like 2024Q3—suggests a precarious capital structure.
- Investors should remain cautious as the firm navigates a contraction in total assets from $3.3 billion in 2024Q1 to $2.9 billion in 2026Q2, which may indicate ongoing credit quality challenges within the middle-market loan portfolio.
Verdict Logic
coupled with a debt-to-equity ratio of 1.07x that sits near internal constraints, warrants extreme caution regarding long-term solvency.
OCSL Growth Metrics
Oaktree Specialty Lending Corporation (OCSL) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years13.33%
5 Years30.69%
3 Years51.59%
TTM-
Profit CAGR
10 Years8.22%
5 Years-2.86%
3 Years5.09%
TTM450.25%
EPS CAGR
10 Years2.66%
5 Years-14.02%
3 Years-6.69%
TTM335.61%
Return on Capital
10 Years2.44%
5 Years4.66%
3 Years3.59%
Last Year4.89%
OCSL Recent Earnings
Oaktree Specialty Lending Corporation (OCSL) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 3/12 qtrs (25%)●Beat Revenue 1/12 qtrs (8%)
Q2 2026Latest
May 5, 2026Metric
Actual
Est
EPS
$0.38+5.6%
$0.36
Rev
$70M-6.2%
$74M
Q1 2026
Feb 4, 2026Metric
Actual
Est
EPS
$0.41+7.9%
$0.38
Rev
$74M-0.4%
$75M
Q4 2025
Nov 18, 2025Metric
Actual
Est
EPS
$0.40+3.6%
$0.39
Rev
$84M+10.1%
$77M
Q3 2025
Aug 5, 2025Metric
Actual
Est
EPS
$0.37-17.8%
$0.45
Rev
$62M-19.2%
$77M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 5, 2026 | $0.38vs $0.36+5.6% | $70Mvs $74M-6.2% |
| Q1 2026 | Feb 4, 2026 | $0.41vs $0.38+7.9% | $74Mvs $75M-0.4% |
| Q4 2025 | Nov 18, 2025 | $0.40vs $0.39+3.6% | $84Mvs $77M+10.1% |
| Q3 2025 | Aug 5, 2025 | $0.37vs $0.45-17.8% | $62Mvs $77M-19.2% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for Oaktree Specialty Lending Corporation (OCSL)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $12.03 | $1.06B | 30.85 | 60.93% | 11.32% | 2.3% | 14.31% | |
| $18.47 | $13.26B | 9.93 | 32.87% | 43.69% | 8.11% | — | |
| $4.90 | $991.12M | 6.45 | -18.64% | — | — | — | |
| $12.75 | $3.32B | 8.98 | 42.5% | 26.91% | 5.24% | — | |
| $4.75 | $192.85M | 3.89 | 36.55% | -19.55% | -3.39% | — | |
| $10.39 | $722.08M | 10.29 | 17.9% | 23.81% | 4.42% | — |
Compare OCSL vs Peers
Oaktree Specialty Lending Corporation (OCSL) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
OCSL SEC Filings & Documents
Oaktree Specialty Lending Corporation (OCSL) SEC filings — annual & quarterly reports (10-K, 10-Q)
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OCSL Frequently Asked Questions
Oaktree Specialty Lending Corporation (OCSL) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Oaktree Specialty Lending Corporation's revenue?
Oaktree Specialty Lending Corporation (OCSL) reported $284.9M in revenue for fiscal year 2025.
How fast is Oaktree Specialty Lending Corporation growing?
Oaktree Specialty Lending Corporation (OCSL) grew revenue by 60.9% over the past year. This is strong growth.
Is OCSL profitable?
Yes, Oaktree Specialty Lending Corporation (OCSL) is profitable, generating $49.6M in net income for fiscal year 2025 (11.3% net margin).
Dividend & Returns
Does OCSL pay dividends?
Yes, Oaktree Specialty Lending Corporation (OCSL) pays a dividend with a yield of 14.31%. This makes it attractive for income-focused investors.
What is OCSL's return on equity?
Oaktree Specialty Lending Corporation (OCSL) has a return on equity (ROE) of 2.3%. This is below average, suggesting room for improvement.
What is Oaktree Specialty Lending Corporation's free cash flow?
Oaktree Specialty Lending Corporation (OCSL) generated $12.5M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.