OFS Capital Corporation (OFS) 10-Year Financial Performance & Capital Metrics

OFS • • Banking & Credit

Financial ServicesAsset ManagementBusiness Development Companies (BDCs)Middle Market Lenders

AboutOFS Capital Corporation is a business development company specializing in direct and fund investments as well as add-on acquisitions. It provides flexible capital solutions primarily through debt capital and to a lesser extent, minority equity investments serving the needs of U.S.-based middle-market companies across a broad array of industries. It does not invest in operational turnarounds or start-up businesses. For direct, it specializes in debt and structured equity investments, recapitalizations and refinancing, management and leveraged buyouts, acquisition financings, shareholder liquidity events, growth capital, independent sponsor transactions, ESOPs, and minority investments in the lower middle market companies. It invests in the aerospace and defense, business services, consumer products and services, food and beverage, health care services, specialty chemicals, transportation and logistics, value added distribution, franchising, and industrial and niche manufacturing sectors. The firm invests in companies based in United States. It seeks to invest between $5 million and $35 million, revenues between $10 million and $200 million, annual EBITDA more than $5 million, and Enterprise value between $10 million and $500 million. The firm seeks to invest in companies with debt investment values between $5 million and $25 million. The fund uses senior secured, unitranche loans, first-lien, second-lien, subordinated/ mezzanine loans, warrants, and preferred equity securities and common equity securities. It prefers to take a minority as well as majority stake in the investments made. It also co-invests with its partners for additional capital.Show more

Net Interest Income $28M -23.5%
Total Revenue $48M -15.8%
Net Income $28M +6216.6%
Return on Equity 17.02% +6366.4%
Net Interest Margin 6.49% -16.1%
Efficiency Ratio 9.24% +0.1%
ROA 6.33% +6846.4%
Equity / Assets 40.23% +16.7%
Book Value per Share 12.85 +6.3%
Tangible BV/Share 12.85 +6.4%
Debt/Equity 1.43 -22.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 24.4%
✓Strong Piotroski F-Score: 8/9
✓Strong NIM of 6.5%
✓Efficient operations: 9.2% efficiency ratio
✓Well capitalized: 40.2% equity/assets
✓Healthy dividend yield of 4.0%

✗Weaknesses

✗Weak 3Y average ROE of 4.3%
✗Weak momentum: RS Rating 10 (bottom 10%)
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y9.44%

5Y9.88%

3Y-17.61%

TTM-

Profit (Net Income) CAGR

10Y11.09%

5Y24.38%

3Y-20.62%

TTM382.84%

EPS CAGR

10Y7.49%

5Y24.46%

3Y-20.63%

TTM366.67%

ROCE

10Y Avg3.5%

5Y Avg3.38%

3Y Avg1.66%

Latest6.5%

Peer Comparison

Middle Market Lenders

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
GSBDGoldman Sachs BDC, Inc.	1.08B	9.43	17.15	-57.7%	32.67%	9.15%	18.68%	1.23
CSWCCapital Southwest Corporation	1.36B	23.72	16.14	7.67%	43.07%	9.13%		1.08
HCXYHercules Capital, Inc.	2.36B	25.18	15.64	-9.71%	62.54%	14.13%		0.90
TRINITrinity Capital Inc. 7.875% Notes Due 2029	1.91B	25.41	12.10	29.68%	50.98%	15.22%	4.92%	1.08
HTGCHercules Capital, Inc.	3.45B	18.97	11.78	-12.79%	61.03%	14.17%		0.90
TSLXSixth Street Specialty Lending, Inc.	2.12B	22.40	11.03	-2.72%	51.86%	11.83%	8.85%	1.18
MAINMain Street Capital Corporation	5.75B	64.20	10.97	18.32%	70.11%	18.28%		0.76
GBDCGolub Capital BDC, Inc.	3.68B	13.95	9.82	80.52%	46.2%	9.4%

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	23.13M	23.73M	25.22M	31.47M	34M	24.24M	25.01M	29.7M	36.32M	27.78M
NII Growth %	0.47%	0.03%	0.06%	0.25%	0.08%	-0.29%	0.03%	0.19%	0.22%	-0.24%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	30.09M	29.03M	31.03M	40.71M	49.83M	43.04M	42.53M	46.72M	55.8M	44.43M
Interest Expense	6.96M	5.3M	5.81M	9.23M	15.83M	18.81M	17.52M	17.02M	19.48M	16.65M
Loan Loss Provision	0	0	0	0	0	0	0	0	0	0
Non-Interest Income+	-854K	-6.1M	-13.53M	-17.43M	-19.88M	-13.9M	43.22M	-34.03M	1.14M	3.53M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	29.23M	22.93M	17.5M	23.28M	29.95M	29.14M	85.75M	12.7M	56.94M	47.96M
Revenue Growth %	0.5%	-0.22%	-0.24%	0.33%	0.29%	-0.03%	1.94%	-0.85%	3.49%	-0.16%
Non-Interest Expense	4.04M	3.8M	3.77M	4.47M	4.56M	6.64M	11.37M	3.26M	5.26M	4.43M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	18.23M	13.83M	7.91M	9.57M	9.55M	3.69M	56.86M	-7.59M	-465K	28.44M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.83%	-0.24%	-0.43%	0.21%	-0%	-0.61%	14.39%	-1.13%	0.94%	62.17%
Pretax Income+	18.23M	13.83M	7.91M	9.57M	9.55M	3.69M	56.86M	-7.59M	-465K	28.44M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	0	0	0	0	0	0	0	0	0	0
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	18.23M	13.83M	7.91M	9.57M	9.55M	3.69M	56.86M	-7.59M	-465K	28.44M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.83%	-0.24%	-0.43%	0.21%	-0%	-0.61%	14.39%	-1.13%	0.94%	62.17%
Net Income (Continuing)	18.23M	13.83M	7.91M	9.57M	9.55M	3.69M	56.86M	-7.59M	-465K	28.44M
EPS (Diluted)+	1.89	1.43	0.64	0.72	0.71	0.28	4.24	-0.58	-0.03	2.12
EPS Growth %	0.83%	-0.24%	-0.55%	0.13%	-0.01%	-0.61%	14.14%	-1.14%	0.94%	62.1%
EPS (Basic)	1.89	1.43	0.64	0.72	0.71	0.28	4.24	-0.58	-0.03	2.12
Diluted Shares Outstanding	9.67M	9.69M	12.4M	13.35M	13.36M	13.39M	13.41M	13.42M	13.4M	13.4M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	32.71M	17.66M	72.95M	38.17M	13.45M	37.71M	43.05M	14.94M	45.35M	6.07M
Short Term Investments	0	0	0	0	0	0	0	0	0	0
Total Investments+	257.3M	281.63M	277.5M	396.8M	508.21M	431.51M	494.15M	499.47M	420.29M	409.67M
Investments Growth %	-0.18%	0.09%	-0.01%	0.43%	0.28%	-0.15%	0.15%	0.01%	-0.16%	-0.03%
Long-Term Investments	257.3M	281.63M	277.5M	396.8M	508.21M	431.51M	494.15M	499.47M	420.29M	409.67M
Accounts Receivables	789K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	0	1.08M	1.08M	0	0	0	0	0	0	0
Intangible Assets	0	1.9M	1.71M	0	1.31M	1.11M	0	477K	69K	0
PP&E (Net)	0	-26.38M	-83.06M	0	0	0	0	0	0	0
Other Assets	0	-281.63M	-277.5M	0	10.35M	11.83M	12.95M	2.42M	-420.36M	1.37M
Total Current Assets	37.38M	19.43M	75.69M	44.62M	18.32M	39.37M	61.95M	18.35M	0	17.09M
Total Non-Current Assets	257.3M	281.63M	277.5M	396.8M	519.87M	444.45M	507.1M	502.37M	0	411.03M
Total Assets+	294.68M	305.03M	357.78M	441.42M	538.19M	483.81M	569.05M	520.72M	469.82M	428.12M
Asset Growth %	-0.14%	0.04%	0.17%	0.23%	0.22%	-0.1%	0.18%	-0.08%	-0.1%	-0.09%
Return on Assets (ROA)	0.06%	0.05%	0.02%	0.02%	0.02%	0.01%	0.11%	-0.01%	-0%	0.06%
Accounts Payable	1.55M	1.6M	1.6M	6.94M	10.26M	8.41M	8.79M	0	3.71M	1.8M
Total Debt+	149.88M	156.34M	164.82M	254.83M	352.48M	309.19M	344.81M	331.75M	299.73M	246.66M
Net Debt	117.17M	138.68M	91.87M	216.65M	339.03M	271.48M	301.76M	316.81M	254.38M	240.59M
Long-Term Debt	149.88M	156.34M	164.82M	242.83M	352.48M	309.19M	344.81M	331.75M	299.73M	246.66M
Short-Term Debt	0	0	0	12M	0	0	0	0	0	0
Other Liabilities	-483K	279K	127K	3.99M	587K	338K	1.35M	244K	0	1.09M
Total Current Liabilities	1.98M	4.91M	4.62M	19.58M	18.5M	15.33M	19.14M	8.3M	15.04M	8.14M
Total Non-Current Liabilities	149.68M	156.34M	164.82M	246.82M	353.06M	309.52M	346.16M	331.99M	299.73M	247.76M
Total Liabilities	151.66M	161.25M	169.44M	266.4M	371.56M	324.86M	365.3M	340.29M	307.81M	255.9M
Total Equity+	143.01M	148.66M	194.01M	175.02M	166.63M	158.96M	203.74M	180.42M	162M	172.22M
Equity Growth %	0.04%	0.04%	0.31%	-0.1%	-0.05%	-0.05%	0.28%	-0.11%	-0.1%	0.06%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.13%	0.09%	0.05%	0.05%	0.06%	0.02%	0.31%	-0.04%	-0%	0.17%
Book Value per Share	14.79	15.34	15.64	13.11	12.47	11.87	15.19	13.45	12.09	12.85
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	97K	97K	133K	134K	134K	134K	134K	134K	134K	134K
Additional Paid-in Capital	134.45M	134.3M	187.4M	187.54M	187.31M	187.12M	185.11M	184.84M	184.84M	184.91M
Retained Earnings	4.61M	6.73M	9.4M	-12.65M	-20.81M	-28.3M	18.5M	-4.55M	-22.97M	-12.82M
Accumulated OCI	8.47M	7.06M	805K	0	0	0	0	0	0	0
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	0	9.38M	195K	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	83.74M	-11.32M	10.67M	-101.09M	-101.64M	80.63M	-12.01M	2.95M	21.37M	33.01M
Operating CF Growth %	2.28%	-1.14%	1.94%	-10.47%	-0.01%	1.79%	-1.15%	1.25%	6.25%	0.54%
Net Income	18.23M	13.83M	7.91M	9.57M	9.55M	3.69M	56.86M	-7.59M	-465K	0
Depreciation & Amortization	195K	195K	195K	195K	195K	206K	222K	409K	408K	69K
Deferred Taxes	0	0	0	0	0	0	0	24.06M	0	9K
Other Non-Cash Items	63.99M	-24.34M	3.56M	-118.65M	-118.24M	77.57M	-58.37M	-16.45M	21.6M	40.95M
Working Capital Changes	1.32M	-999K	-992K	7.8M	6.85M	-845K	-10.73M	2.5M	-171K	-8.02M
Cash from Investing+	71.2M	-62.96M	-105.86M	-224.72M	-187.14M	-59.63M	-216.11M	-107.55M	60.2M	0
Purchase of Investments	71.2M	-68.24M	-142.9M	-272.15M	-222.17M	-130.4M	-268.9M	-154.17M	-41.74M	-93.37M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	0	0	0	0	0	0	0	0
Other Investing	0	0	0	0	0	0	0	0	0	47.26M
Cash from Financing+	-63.47M	-3.74M	44.62M	66.31M	76.91M	-56.36M	17.35M	-31.06M	-51.15M	-72.29M
Dividends Paid	-12.69M	-13.06M	-16.7M	-22.89M	-17.95M	-11.37M	-12.07M	-15.38M	-17.95M	-18.22M
Share Repurchases	0	0	0	0	0	0	0	0	0	0
Stock Issued	-4K	0	53.42M	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	1000K	1000K	1000K	1000K	-1000K	1000K	-1000K	-1000K	-1000K
Other Financing	-750K	-177K	-203K	-643K	-1.86M	-239K	-836K	0	0	0
Net Change in Cash+	20.27M	-15.05M	55.29M	-34.78M	-24.73M	24.26M	5.34M	-28.11M	30.41M	-39.28M
Exchange Rate Effect	-1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0	0
Cash at Beginning	12.45M	32.71M	17.66M	72.95M	38.17M	13.45M	37.71M	43.05M	14.94M	45.35M
Cash at End	32.71M	17.66M	72.95M	38.17M	13.45M	37.71M	43.05M	14.94M	45.35M	6.07M
Interest Paid	0	0	0	0	0	0	0	0	0	0
Income Taxes Paid	0	0	0	0	0	0	0	0	0	0
Free Cash Flow+	83.74M	-11.32M	10.67M	-101.09M	-101.64M	80.63M	-12.01M	2.95M	21.37M	33.01M
FCF Growth %	2.28%	-1.14%	1.94%	-10.47%	-0.01%	1.79%	-1.15%	1.25%	6.25%	0.54%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	13%	9.48%	4.62%	5.19%	5.59%	2.27%	31.36%	-3.95%	-0.27%	17.02%
Return on Assets (ROA)	5.73%	4.61%	2.39%	2.4%	1.95%	0.72%	10.8%	-1.39%	-0.09%	6.33%
Net Interest Margin	7.85%	7.78%	7.05%	7.13%	6.32%	5.01%	4.4%	5.7%	7.73%	6.49%
Efficiency Ratio	13.83%	16.56%	21.57%	19.22%	15.24%	22.78%	13.26%	25.65%	9.23%	9.24%
Equity / Assets	48.53%	48.73%	54.23%	39.65%	30.96%	32.85%	35.8%	34.65%	34.48%	40.23%
Book Value / Share	14.79	15.34	15.64	13.11	12.47	11.87	15.19	13.45	12.09	12.85
NII Growth	46.76%	2.59%	6.29%	24.81%	8.03%	-28.72%	3.2%	18.73%	22.31%	-23.51%
Dividend Payout	69.61%	94.46%	211.13%	239.19%	187.89%	307.66%	21.23%	-	-	9.61%

Frequently Asked Questions

Valuation & Price

OFS Capital Corporation (OFS) has a price-to-earnings (P/E) ratio of 2.4x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

OFS Capital Corporation (OFS) saw revenue decline by 15.8% over the past year.

Yes, OFS Capital Corporation (OFS) is profitable, generating $3.2M in net income for fiscal year 2024 (59.3% net margin).

Dividend & Returns

Yes, OFS Capital Corporation (OFS) pays a dividend with a yield of 4.02%. This makes it attractive for income-focused investors.

OFS Capital Corporation (OFS) has a return on equity (ROE) of 17.0%. This is reasonable for most industries.

Industry Metrics

OFS Capital Corporation (OFS) has a net interest margin (NIM) of 6.5%. This indicates healthy earnings from lending activities.

OFS Capital Corporation (OFS) has an efficiency ratio of 9.2%. This is excellent, indicating strong cost control.

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