Oxford Lane Capital Corp. (OXLCI) 10-Year Financial Performance & Capital Metrics

OXLCI • • Banking & Credit

Financial ServicesAsset ManagementBusiness Development Companies (BDCs)CLO & Structured Credit Investors

AboutOxford Lane Capital Corp. is a close ended fund launched and managed by Oxford Lane Management LLC. It invests in fixed income securities. The fund primarily invests in securitization vehicles which in turn invest in senior secured loans made to companies whose debt is rated below investment grade or is unrated. Oxford Lane Capital Corp was formed on June 9, 2010 and is domiciled in the United States.Show more

Net Interest Income $0
Total Revenue $307M +26.9%
Net Income $235M +237.3%
Return on Equity 23.94% +221.6%
Net Interest Margin 0%
Efficiency Ratio 26.63% -84.0%
ROA 15.23% +222.0%
Equity / Assets 66.88% +12.7%
Book Value per Share 4.90 -7.2%
Tangible BV/Share 4.90 -7.2%
Debt/Equity 0.41 -38.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 26.6% efficiency ratio
✓Well capitalized: 66.9% equity/assets
✓Healthy dividend yield of 2.7%
✓Diversified revenue: 100.0% from non-interest income
✓Trading near 52-week high

✗Weaknesses

✗Shares diluted 59.1% in last year

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y28.81%

3Y73.98%

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y-6.75%

TTM8.82%

EPS CAGR

10Y-

5Y-

3Y-32.17%

TTM-113.57%

ROCE

10Y Avg2.8%

5Y Avg1.36%

3Y Avg5.97%

Latest15.43%

Peer Comparison

CLO & Structured Credit Investors

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
OXLCGOxford Lane Capital Corp. 7.95% Notes due 2032		25.35	237.14	-67.05%	50.6%	10.15%		0.25
OXLCOxford Lane Capital Corp.	1.45B	14.92	139.57	-65.74%	50.6%	10.15%		0.25
PDPAPearl Diver Credit Company Inc.		25.32	29.79	6.8%	86.65%	13.08%		0.05
ECCUEagle Point Credit Company Inc.		25.20	29.30	-14.94%	69.26%	3.08%		0.29
ECCXEagle Point Credit Company Inc. 6.6875% NT 28	454.98M	25.15	29.24	-14.94%	69.26%	3.08%	22.76%	0.29
ECCFEagle Point Credit Company Inc.		24.93	28.99	-14.94%	69.26%	3.08%		0.29
ECCWEagle Point Credit Company Inc.		24.90	28.95	-14.94%	69.26%	3.08%		0.29
ECCCEagle Point Credit Company Inc.		24.65	28.66	-14.94%	69.26%	3.08%		0.29

Profit & Loss

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Net Interest Income+	0	0	0	0	0	0	0	0
NII Growth %	-	-	-	-	-	-	-	-
Net Interest Margin %	-	-	-	-	-	-	-	-
Interest Income	0	0	0	0	0	0	0	0
Interest Expense	0	0	0	0	0	0	0	0
Loan Loss Provision	14.59M	19.38M	23.62M	31.63M	32.12M	54.45M	65.59M	77.49M
Non-Interest Income+	52.31M	75.44M	86.5M	116M	58.26M	200.63M	241.84M	306.79M
Non-Interest Income %	-	-	-	-	-	-	-	-
Total Revenue+	52.31M	75.44M	86.5M	116M	58.26M	200.63M	241.84M	306.79M
Revenue Growth %	-	0.44%	0.15%	0.34%	-0.5%	2.44%	0.21%	0.27%
Non-Interest Expense	79.19M	-2.94M	-68.81M	397.8M	178.87M	51.35M	401.75M	81.7M
Efficiency Ratio	-	-	-	-	-	-	-	-
Operating Income+	116.91M	53.12M	-5.93M	-275.65M	306.21M	147.96M	-139.48M	225.09M
Operating Margin %	-	-	-	-	-	-	-	-
Operating Income Growth %	-	-0.55%	-1.11%	-45.48%	2.11%	-0.52%	-1.94%	2.61%
Pretax Income+	105.2M	38.01M	-20.98M	-291.13M	289.93M	125.88M	-171.29M	240.82M
Pretax Margin %	-	-	-	-	-	-	-	-
Income Tax+	0	0	0	0	0	0	0	5.71M
Effective Tax Rate %	-	-	-	-	-	-	-	-
Net Income+	105.2M	38.01M	-20.98M	-291.13M	289.93M	125.88M	-171.29M	235.11M
Net Margin %	-	-	-	-	-	-	-	-
Net Income Growth %	-	-0.64%	-1.55%	-12.88%	2%	-0.57%	-2.36%	2.37%
Net Income (Continuing)	105.2M	38.01M	-20.98M	-291.13M	289.93M	125.88M	-171.29M	235.11M
EPS (Diluted)+	4.62	1.49	-0.51	-4.14	3.14	1.20	-1.14	0.98
EPS Growth %	-	-0.68%	-1.34%	-7.12%	1.76%	-0.62%	-1.95%	1.86%
EPS (Basic)	4.62	1.49	-0.51	-4.14	3.14	1.20	-1.14	0.98
Diluted Shares Outstanding	22.75M	25.51M	41.14M	70.32M	92.34M	104.9M	150.25M	239.13M

Balance Sheet

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	14.02M	20.33M	21.47M	11.66M	90.87M	34.67M	21.74M	42.97M
Short Term Investments	0	0	0	0	0	0	0	0
Total Investments+	0	0	0	508.38M	826.01M	1.35B	1.29B	1.68B
Investments Growth %	-	-	-	-	0.62%	0.63%	-0.04%	0.3%
Long-Term Investments	0	0	0	508.38M	826.01M	1.35B	1.29B	1.68B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-
Goodwill	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0
PP&E (Net)	0	0	0	0	0	0	0	0
Other Assets	106.87K	115.82K	0	546.37K	464.56K	177.88K	29.97K	141.78K
Total Current Assets	0	0	0	23.01M	108.39M	61.02M	46.26M	71.7M
Total Non-Current Assets	0	0	0	508.93M	826.47M	1.35B	1.29B	1.68B
Total Assets+	377.12M	514.19M	573.35M	531.94M	934.86M	1.41B	1.34B	1.75B
Asset Growth %	-	0.36%	0.12%	-0.07%	0.76%	0.51%	-0.05%	0.31%
Return on Assets (ROA)	0.28%	0.09%	-0.04%	-0.53%	0.4%	0.11%	-0.12%	0.15%
Accounts Payable	0	0	0	0	0	0	0	0
Total Debt+	133.36M	218.15M	212.83M	254.28M	328.11M	445.48M	522.44M	478.06M
Net Debt	119.34M	197.81M	191.36M	242.62M	237.24M	410.8M	500.7M	435.09M
Long-Term Debt	133.36M	151.68M	152.93M	214.17M	305.18M	411.94M	475.63M	478.06M
Short-Term Debt	0	42.49M	42.49M	40.12M	0	0	0	0
Other Liabilities	0	0	0	0	0	0	0	0
Total Current Liabilities	0	66.47M	59.9M	48.99M	33.42M	49.05M	67.26M	101.79M
Total Non-Current Liabilities	145.07M	157.79M	159.62M	214.17M	305.18M	411.94M	475.63M	478.06M
Total Liabilities	145.07M	224.26M	219.52M	263.15M	338.61M	460.99M	542.89M	579.85M
Total Equity+	232.05M	289.93M	353.83M	268.79M	596.25M	947.16M	793.15M	1.17B
Equity Growth %	-	0.25%	0.22%	-0.24%	1.22%	0.59%	-0.16%	0.48%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.45%	0.15%	-0.07%	-0.94%	0.67%	0.16%	-0.2%	0.24%
Book Value per Share	10.20	11.37	8.60	3.82	6.46	9.03	5.28	4.90
Tangible BV per Share	-	-	-	-	-	-	-	-
Common Stock	328.35M	0	0	723.51M	1M	1.44M	1.72M	2.39M
Additional Paid-in Capital	0	372.85M	473.52M	0	782.88M	1.06B	1.21B	1.54B
Retained Earnings	-25.67M	-25.27M	-119.68M	-454.72M	-187.64M	-111.03M	-417.03M	-367.99M
Accumulated OCI	-70.63M	-57.65M	0	0	0	0	0	0
Treasury Stock	0	0	0	0	0	0	0	0
Preferred Stock	0	0	0	0	0	0	0	0

Cash Flow

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operations+	-844.22K	-71.15M	91.56M	122.8M	124.01M	547.45M	381.3M	-123.79M
Operating CF Growth %	-	-83.28%	2.29%	0.34%	0.01%	3.41%	-0.3%	-1.32%
Net Income	105.2M	38.01M	-20.98M	-291.13M	289.93M	125.88M	-171.29M	235.11M
Depreciation & Amortization	0	0	0	0	0	0	0	2.48M
Deferred Taxes	0	0	0	0	0	0	0	0
Other Non-Cash Items	-110.59M	-112.17M	118.71M	413.63M	-156.56M	429.11M	538.92M	-363.07M
Working Capital Changes	2.67M	1.84M	-3.31M	174.17K	-4.54M	-3.91M	6.7M	1.7M
Cash from Investing+	0	0	-174.96M	-394.02M	-131.95M	-932.95M	-472.86M	0
Purchase of Investments	0	0	-504.13M	-497.41M	-375.19M	-1.22B	-543.45M	-597.19M
Sale/Maturity of Investments	0	0	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-
Acquisitions	0	0	0	0	0	0	0	0
Other Investing	0	0	0	0	0	0	0	0
Cash from Financing+	-5.5M	77.46M	84.54M	261.41M	87.14M	329.3M	78.63M	145.03M
Dividends Paid	-48.9M	-41.52M	-54.24M	-83.99M	-75.09M	-85.6M	-122.53M	-166.6M
Share Repurchases	-15.31M	-50.5M	0	-30M	-6.38M	0	0	0
Stock Issued	59.75M	130.44M	138.77M	377.9M	112.29M	310.63M	203.57M	311.81M
Net Stock Activity	-	-	-	-	-	-	-	-
Debt Issuance (Net)	0	1000K	0	0	1000K	1000K	0	0
Other Financing	-1.04M	-1.09M	138.77M	345.41M	62.24M	314.91M	201.17M	311.62M
Net Change in Cash+	-6.35M	6.32M	1.14M	-9.81M	79.2M	-56.19M	-12.93M	21.23M
Exchange Rate Effect	0	0	0	0	0	0	0	0
Cash at Beginning	20.36M	14.02M	20.33M	21.47M	11.66M	90.87M	34.67M	21.74M
Cash at End	14.02M	20.33M	21.47M	11.66M	90.87M	34.67M	21.74M	42.97M
Interest Paid	0	0	0	0	0	0	0	0
Income Taxes Paid	0	0	0	0	0	0	0	0
Free Cash Flow+	-844.22K	-71.15M	91.56M	122.8M	124.01M	547.45M	381.3M	-123.79M
FCF Growth %	-	-83.28%	2.29%	0.34%	0.01%	3.41%	-0.3%	-1.32%

Banking Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023
Return on Equity (ROE)	45.34%	14.56%	-6.52%	-93.52%	67.03%	16.31%	-19.68%	23.94%
Return on Assets (ROA)	27.9%	8.53%	-3.86%	-52.68%	39.53%	10.75%	-12.48%	15.23%
Net Interest Margin	0%	0%	0%	0%	0%	0%	0%	0%
Efficiency Ratio	151.37%	-3.9%	-79.55%	342.94%	307.02%	25.59%	166.12%	26.63%
Equity / Assets	61.53%	56.39%	61.71%	50.53%	63.78%	67.26%	59.37%	66.88%
Book Value / Share	10.2	11.37	8.6	3.82	6.46	9.03	5.28	4.9
Dividend Payout	46.49%	109.24%	-	-	25.9%	68.01%	-	70.86%

Frequently Asked Questions

Valuation & Price

Oxford Lane Capital Corp. (OXLCI) has a price-to-earnings (P/E) ratio of 26.2x. This suggests investors expect higher future growth.

Growth & Financials

Oxford Lane Capital Corp. (OXLCI) grew revenue by 26.9% over the past year. This is strong growth.

Yes, Oxford Lane Capital Corp. (OXLCI) is profitable, generating $544.9M in net income for fiscal year 2023 (76.6% net margin).

Dividend & Returns

Yes, Oxford Lane Capital Corp. (OXLCI) pays a dividend with a yield of 2.71%. This makes it attractive for income-focused investors.

Oxford Lane Capital Corp. (OXLCI) has a return on equity (ROE) of 23.9%. This is excellent, indicating efficient use of shareholder capital.

Industry Metrics

Oxford Lane Capital Corp. (OXLCI) has a net interest margin (NIM) of N/A. NIM has been under pressure due to interest rate environment.

Oxford Lane Capital Corp. (OXLCI) has an efficiency ratio of 26.6%. This is excellent, indicating strong cost control.

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