Oaktree Specialty Lending Corporation's core business appears structurally broken, as evidenced by net interest income turning negative at -$24.1M in 2026Q3, a level unsustainable for a specialty lender.
Price trend, volume and key moving averages
Trailing total returns as of 11/7/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q3 2026Latest Aug 5, 2026 | $0.37+3.5% vs $0.36 | $69M+0.1% vs $69M |
Q2 2026 May 5, 2026 | $0.38+5.6% vs $0.36 | $70M-6.2% vs $74M |
Q1 2026 Feb 4, 2026 | $0.41+7.9% vs $0.38 | $74M-0.4% vs $75M |
Q4 2025 Nov 18, 2025 | $0.40+3.6% vs $0.39 | $84M+10.1% vs $77M |
BDCs trade at a steep discount, but the risks the bears talk about most may not be the ones that matter. One overlooked risk, hidden in loans made years ago, is already hurting several well-known names. Some of the most popular BDCs may be more exposed than their results suggest, and the moment of truth is getting closer.
Business development companies are an overlooked corner of private credit and a chance for individual investors. Market fear has pushed some high-yield BDCs well below their net asset value, despite solid fundamentals. I highlight two discounted BDCs with strong balance sheets, healthy loan books, and well-covered dividends.
Five major BDCs—Blue Owl Technology Finance Corp., FS KKR Capital Corp, Morgan Stanley Direct Lending Fund, Blue Owl Capital Corporation, and Oaktree Specialty Lending Corporation—trade at steep discounts to NAV, implying extreme loan losses not reflected in credit performance. Current market prices require annualized loan losses far exceeding historical peaks, despite portfolios of senior secured, diversified loans and low non-accruals. Buybacks at deep discounts signal management confidence in loan valuations, with OTF and FSK notably active in repurchasing shares.
LOS ANGELES--(BUSINESS WIRE)--Oaktree Specialty Lending Corporation (NASDAQ:OCSL) (“Oaktree Specialty Lending” or the “Company”) today announced that it will report its financial results for the fourth fiscal quarter and full year ended September 30, 2026 before the opening of the Nasdaq Global Select Market on Tuesday, November 17, 2026. Management will host a conference call to discuss the results on the same day at 11:00 a.m. Eastern Time / 8:00 a.m. Pacific Time. The conference call may be a.
Benchmark OCSL against direct peers instead of judging its metrics in isolation.
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 |
|---|---|---|---|---|---|---|---|
| $12.50 | $1.1B | 26.07 | 420.21% | 20.88% | 2.98% | 13.77% | |
| $19.13 | $13.74B | 15.74 | -11.83% | 55% | 6.23% | 9.45% | |
| $5.15 | $1.04B | 6.78 | -20.66% | — | — | 15.55% | |
| $12.74 | $3.32B | 22.62 | 44.68% | 31.97% | 3.82% | 10.87% | |
| $4.37 | $177.42M | 8.17 | 55.25% | 58.87% | 6.24% | 23.45% | |
| $11.17 | $776.28M | 11.06 | 10.5% | 9.46% | 1.18% | 13.49% |
Oaktree Specialty Lending Corporation (OCSL) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
Oaktree Specialty Lending Corporation (OCSL) SEC filings — annual & quarterly reports (10-K, 10-Q)
Aug 5, 2026·SEC
May 5, 2026·SEC
Mar 4, 2026·SEC
Get notified when OCSL posts new earnings or crosses analyst targets
Free. No account needed. Unsubscribe any time.
Oaktree Specialty Lending Corporation (OCSL) stock FAQ — growth, dividends, profitability & financials explained
Oaktree Specialty Lending Corporation (OCSL) grew revenue by 465.5% over the trailing twelve months, compared with the twelve months before.
Yes. Oaktree Specialty Lending Corporation (OCSL) earned $42.2M in net income over the trailing twelve months (a 20.9% net margin).
Yes. Oaktree Specialty Lending Corporation (OCSL) pays a dividend that yields 13.77% at the current price, a high yield.
Oaktree Specialty Lending Corporation (OCSL) had a return on equity (ROE) of 3.0% over the trailing twelve months. That is below the market's typical 10-15%.
Oaktree Specialty Lending Corporation (OCSL) has a net interest margin (NIM) of 6.4%. This indicates healthy earnings from lending activities.
Oaktree Specialty Lending Corporation (OCSL) has an efficiency ratio of 36.8%. This is excellent, indicating strong cost control.
