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OCSLOaktree Specialty Lending Corporation
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OCSL logoOaktree Specialty Lending Corporation(OCSL)Earnings, Financials & Key Ratios

OCSL•NASDAQ•Banking & Credit
29.7× P/E·Price updated Jun 19, 2026
SectorFinancial ServicesIndustryCredit ServicesSub-IndustrySmall Business and Middle-Market Lending
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
  • Net Interest Income$192M-19.6%
  • Total Revenue$300M+60.9%
  • Net Income$34M-41.4%
  • Return on Equity2.3%-40.4%
  • Net Interest Margin6.38%-14.4%
  • Efficiency Ratio36.82%+37166.6%
  • ROA1.09%-39.4%
  • Equity / Assets48.81%+4.9%
  • Book Value per Share17.03-8.0%

OCSL Key Insights

Oaktree Specialty Lending Corporation (OCSL) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong Piotroski F-Score: 7/9
  • ✓Strong NIM of 6.4%
  • ✓Efficient operations: 36.8% efficiency ratio
  • ✓Well capitalized: 48.8% equity/assets
  • ✓Trading at only 0.7x book value

✗Weaknesses

  • ✗Weak 3Y average ROE of 4.9%
  • ✗Dividend payout exceeds 100% of earnings

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

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OCSL Price & Volume

Oaktree Specialty Lending Corporation (OCSL) stock price & volume — 10-year historical chart

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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

Full history →
●Beat EPS 3/12 qtrs (25%)●Beat Revenue 1/12 qtrs (8%)
Q2 2026Latest
May 5, 2026
Metric
Actual
Est
EPS
$0.38+5.6%
$0.36
Rev
$70M-6.2%
$74M
Q1 2026
Feb 4, 2026
Metric
Actual
Est
EPS
$0.41+7.9%
$0.38
Rev
$74M-0.4%
$75M
Q4 2025
Nov 18, 2025
Metric
Actual
Est
EPS
$0.40+3.6%
$0.39
Rev
$84M+10.1%
$77M
Q3 2025
Aug 5, 2025
Metric
Actual
Est
EPS
$0.37-17.8%
$0.45
Rev
$62M-19.2%
$77M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 5, 2026
$0.38vs $0.36+5.6%
$70Mvs $74M-6.2%
Q1 2026Feb 4, 2026
$0.41vs $0.38+7.9%
$74Mvs $75M-0.4%
Q4 2025Nov 18, 2025
$0.40vs $0.39+3.6%
$84Mvs $77M+10.1%
Q3 2025Aug 5, 2025
$0.37vs $0.45-17.8%
$62Mvs $77M-19.2%
Based on last 12 quarters of dataView full earnings history →

OCSL Peer Comparison

Oaktree Specialty Lending Corporation (OCSL) competitors in Small Business and Middle-Market Lending — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
Institutional Holdings
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
ARCC logoARCCAres Capital CorporationDirect Competitor12.95B18.039.6932.87%43.69%8.11%1.12
FSCO logoFSCOFS Credit Opportunities Corp.Direct Competitor997.19M4.936.49-18.64%10.48%0.20
GBDC logoGBDCGolub Capital BDC, Inc.Direct Competitor3.22B12.358.7042.5%26.91%5.24%1.23
TPVG logoTPVGTriplePoint Venture Growth BDC Corp.Direct Competitor202.99M5.004.1036.55%-19.55%-3.39%1.33
CGBD logoCGBDCarlyle Secured Lending, Inc.Direct Competitor760.99M10.9510.8417.9%23.81%4.42%1.31
SLRC logoSLRCSLR Investment Corp.Direct Competitor677.57M12.427.3124.76%39.78%7.31%1.15
MAIN logoMAINMain Street Capital CorporationProduct Competitor4.74B50.979.23-11.06%58.59%14.32%0.82
HTGC logoHTGCHercules Capital, Inc.Product Competitor2.9B15.498.3726.97%50.05%13.18%1.04

Compare OCSL vs Peers

Oaktree Specialty Lending Corporation (OCSL) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs ARCC

Most directly comparable listed peer for OCSL.

Scale Benchmark

vs JPM

Larger-name benchmark to compare OCSL against a more recognizable public peer.

Peer Set

Compare Top 5

vs ARCC, FSCO, GBDC, TPVG

OCSL Income Statement

Oaktree Specialty Lending Corporation (OCSL) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
MetricSep'17Sep'18Sep'19Sep'20Sep'21Sep'22Sep'23Sep'24Sep'25TTM
Net Interest Income
113.48M88.55M106.74M107.14M160.31M202.51M256.89M238.46M191.63M181.49M
NII Growth %
-27.54%-21.97%20.54%0.38%49.62%26.33%26.85%-7.17%-19.64%-64.22%
Net Interest Margin %
7.02%5.71%7.21%6.53%6.08%7.65%7.98%7.46%6.38%6.27%
Interest Income
163.42M124.28M139.17M133.43M190.83M249.44M368.53M367.08M307.47M290.86M
Interest Expense
49.94M35.73M32.43M26.29M30.52M46.93M111.64M128.62M115.84M109.38M
Loan Loss Provision
00000000-77.52M-48.13M
Non-Interest Income
-297.15M-31.24M20.39M-54.83M88M-163.4M-131.68M-180.85M-7.77M-5.95M
Non-Interest Income %
222.19%-33.57%12.78%-69.75%31.56%-189.91%-55.6%-97.11%-2.59%-2.09%
Total Revenue
-133.74M▲ 0%
93.04M▲ 169.6%
159.55M▲ 71.5%
78.6M▼ 50.7%
278.82M▲ 254.7%
86.04M▼ 69.1%
236.85M▲ 175.3%
186.23M▼ 21.4%
299.7M▲ 60.9%
284.92M▲ 0%
Revenue Growth %
-1314.15%169.57%71.48%-50.74%254.72%-69.14%175.27%-21.37%60.93%836.72%
Non-Interest Expense
13.29M9.93M-43K14.86M7.46M6.25M6.14M-185K110.35M102.54M
Efficiency Ratio
-9.94%10.67%-0.03%18.91%2.68%7.27%2.59%-0.1%36.82%35.99%
Operating Income
-196.97M▲ 0%
47.38M▲ 124.1%
127.17M▲ 168.4%
37.45M▼ 70.5%
240.84M▲ 543.0%
32.86M▼ 86.4%
119.06M▲ 262.3%
57.8M▼ 51.5%
151.02M▲ 161.3%
128.9M▲ 0%
Operating Margin %
147.28%50.93%79.7%47.65%86.38%38.19%50.27%31.03%50.39%45.24%
Operating Income Growth %
-195.94%124.06%168.38%-70.55%543.03%-86.36%262.34%-51.46%161.29%-
Pretax Income
-196.97M▲ 0%
47.38M▲ 124.1%
127.17M▲ 168.4%
37.45M▼ 70.5%
240.84M▲ 543.0%
32.86M▼ 86.4%
119.06M▲ 262.3%
57.8M▼ 51.5%
35.17M▼ 39.1%
50.58M▲ 0%
Pretax Margin %
147.28%50.93%79.7%47.65%86.38%38.19%50.27%31.03%11.74%17.75%
Income Tax
0622K1.01M-1.77M3.58M3.64M1.73M-108K1.25M932K
Effective Tax Rate %
0%1.31%0.79%-4.73%1.49%11.07%1.46%-0.19%3.57%1.84%
Net Income
-196.97M▲ 0%
46.76M▲ 123.7%
126.16M▲ 169.8%
39.22M▼ 68.9%
237.26M▲ 504.9%
29.22M▼ 87.7%
117.33M▲ 301.5%
57.91M▼ 50.6%
33.92M▼ 41.4%
49.65M▲ 0%
Net Margin %
147.28%50.26%79.07%49.9%85.09%33.96%49.54%31.09%11.32%17.43%
Net Income Growth %
-195.94%123.74%169.79%-68.91%504.88%-87.68%301.5%-50.65%-41.42%450.25%
Net Income (Continuing)
-196.97M46.76M126.16M39.22M237.26M29.22M117.33M57.91M33.92M49.65M
EPS (Diluted)
-4.18▲ 0%
1.00▲ 123.9%
2.69▲ 169.0%
0.83▼ 69.1%
4.39▲ 428.9%
0.48▼ 89.1%
1.63▲ 239.6%
0.72▼ 55.8%
0.39▼ 45.8%
0.56▲ 0%
EPS Growth %
-216.67%123.92%169%-69.14%428.92%-89.07%239.58%-55.83%-45.83%335.61%
EPS (Basic)
-4.181.002.690.834.390.481.630.720.39-
Diluted Shares Outstanding
47.15M46.99M46.99M46.99M54.04M60.73M72.12M80.42M86.08M88.09M

OCSL Balance Sheet

Oaktree Specialty Lending Corporation (OCSL) balance sheet — assets, liabilities & shareholders' equity

MetricSep'17Sep'18Sep'19Sep'20Sep'21Sep'22Sep'23Sep'24Sep'25TTM
Cash & Short Term Investments
53.02M13.38M15.41M39.1M29.33M23.53M136.45M63.97M79.63M291.5M
Cash & Due from Banks
53.02M13.38M15.41M39.1M29.33M23.53M136.45M63.97M79.63M51.26M
Short Term Investments
0000000000
Total Investments
0162K490K223K1.91M6.79M4.91M08.71M2.81B
Investments Growth %
--202.47%-54.49%757.4%255.07%-27.68%-100%-1737.09%
Long-Term Investments
0162K490K223K1.91M6.79M4.91M08.71M2.8B
Accounts Receivables
12.56M38.39M18.37M18.78M33.91M108.31M160.59M85.94M55.55M22.89M
Goodwill & Intangibles
0000000000
Goodwill
0000000000
Intangible Assets
0000000000
PP&E (Net)
0000000000
Other Assets
1.55B1.5B1.45B1.58B2.57B2.51B2.92B3.05B2.86B9.68M
Total Current Assets
65.58M51.77M33.77M57.88M63.24M131.84M297.04M149.91M135.18M74.15M
Total Non-Current Assets
1.55B1.5B1.45B1.58B2.57B2.51B2.92B3.05B2.87B2.78B
Total Assets
1.62B▲ 0%
1.55B▼ 4.0%
1.48B▼ 4.5%
1.64B▲ 10.8%
2.64B▲ 60.7%
2.65B▲ 0.4%
3.22B▲ 21.6%
3.2B▼ 0.6%
3B▼ 6.1%
2.89B▲ 0%
Asset Growth %
-31.03%-4%-4.54%10.78%60.69%0.38%21.6%-0.61%-6.11%-22.41%
Return on Assets (ROA)
-9.95%2.95%8.32%2.51%11.09%1.11%4%1.8%1.09%1.66%
Accounts Payable
3.17M3.37M2.3M1.63M4.6M7.94M16.01M16.23M12.07M0
Total Debt
675.37M637.21M473.37M709.32M1.27B1.3B1.6B1.64B1.49B1.48B
Net Debt
622.35M623.83M457.96M670.22M1.24B1.28B1.46B1.57B1.41B1.43B
Long-Term Debt
675.37M637.21M473.37M709.32M1.27B1.3B1.6B1.64B1.49B1.05B
Short-Term Debt
000000000433.96M
Other Liabilities
69.86M52.84M74.75M14.89M50.22M91.77M85.34M55.61M38.23M30.41M
Total Current Liabilities
3.17M3.37M2.3M1.63M4.6M7.94M16.01M16.23M12.07M433.96M
Total Non-Current Liabilities
745.22M690.06M548.11M724.21M1.32B1.39B1.69B1.69B1.53B1.08B
Total Liabilities
748.39M693.42M550.41M725.83M1.32B1.4B1.7B1.71B1.54B1.51B
Total Equity
867.66M▲ 0%
858.03M▼ 1.1%
930.63M▲ 8.5%
914.88M▼ 1.7%
1.31B▲ 43.5%
1.25B▼ 5.1%
1.52B▲ 21.7%
1.49B▼ 1.8%
1.47B▼ 1.5%
1.38B▲ 0%
Equity Growth %
-24.04%-1.11%8.46%-1.69%43.5%-5.12%21.69%-1.84%-1.48%-10.04%
Equity / Assets (Capital Ratio)
53.69%55.31%62.84%55.76%49.8%47.07%47.11%46.52%48.81%47.75%
Return on Equity (ROE)
-19.6%5.42%14.11%4.25%21.3%2.28%8.5%3.86%2.3%3.45%
Book Value per Share
18.4018.2619.8119.4724.2920.5121.0218.5017.0315.69
Tangible BV per Share
18.4018.2619.8119.4724.2920.5121.0218.5017.0315.69
Common Stock
1.41M1.41M1.41M1.41M1.8M611K772K822K881K881K
Additional Paid-in Capital
1.58B1.49B1.49B1.49B1.8B1.83B2.17B2.26B2.35B2.35B
Retained Earnings
-713.03M-636.11M-558.55M-574.3M-493.33M-582.77M-651.34M-777.46M-885.14M-968.89M
Accumulated OCI
0000000000
Treasury Stock
0000000000
Preferred Stock
0000000000

OCSL Cash Flow Statement

Oaktree Specialty Lending Corporation (OCSL) cash flow — operating, investing & free cash flow history

MetricSep'17Sep'18Sep'19Sep'20Sep'21Sep'22Sep'23Sep'24Sep'25TTM
Cash from Operations
486.9M53.51M215.82M-152.88M-230.52M22.39M228.76M19.08M142.4M12.52M
Operating CF Growth %
195.52%-89.01%303.34%-170.83%-50.79%109.72%921.49%-91.66%646.47%-248.97%
Net Income
-196.97M46.76M126.16M39.22M237.26M29.22M117.33M57.91M33.92M49.65M
Depreciation & Amortization
000000000-39.34M
Deferred Taxes
0000000000
Other Non-Cash Items
630.38M52.3M48.42M-132.3M-488.98M64.58M218.83M-110.43M90.98M100.53M
Working Capital Changes
53.49M-45.56M41.24M-59.8M21.2M-71.41M-107.4M71.6M17.49M-103.59M
Cash from Investing
0000000085.98M57.13M
Purchase of Investments
-736.95M-1.06B-477.97M-727.16M-1.12B-702.06M-742.14M-1.28B-958.74M-867.83M
Sale/Maturity of Investments
92.72M303.86M606.27M579.55M792.16M693.75M911.98M1.09B1.04B924.95M
Net Investment Activity
-644.23M-755.74M128.3M-147.61M-328.01M-8.32M169.83M-195.2M85.98M57.13M
Acquisitions
0000000000
Other Investing
644.23M755.74M-128.3M147.61M328.01M8.32M-169.83M195.2M00
Cash from Financing
-557.35M-99.93M-214.11M176.33M224.19M-26.82M-110.41M-86.77M-229.35M-127.59M
Dividends Paid
-62.52M-54.97M-52.22M-53.1M-79.85M-115.25M-180.05M-176.81M-148.2M-135.5M
Share Repurchases
-15.42M-1.41M-1.34M-1.88M-2.17M-1.86M-2.42M-1.55M-10.67M-7.2M
Stock Issued
0000020.84M1.37M92.75M102.96M1.14M
Net Stock Activity
-15.42M-1.41M-1.34M-1.88M-2.17M18.98M-1.05M91.2M92.29M-6.06M
Debt Issuance (Net)
-1000K-1000K-1000K1000K1000K1000K1000K-1000K-1000K0
Other Financing
-357K-6.17M-2.88M-4.9M-8.89M-549K-10.83M-117K00
Net Change in Cash
-70.45M▲ 0%
-46.42M▲ 34.1%
1.92M▲ 104.1%
23.69M▲ 1135.8%
-7.46M▼ 131.5%
-5.27M▲ 29.4%
119.17M▲ 2361.0%
-67M▼ 156.2%
1.09M▲ 101.6%
-97.07M▲ 0%
Exchange Rate Effect
00200K233K-1.13M-851K827K701K2.06M-39.13M
Cash at Beginning
130.36M59.91M13.49M15.41M39.1M31.64M26.36M145.54M78.54M19.48M
Cash at End
59.91M13.49M15.41M39.1M31.64M26.36M145.54M78.54M79.63M11.14M
Interest Paid
0000000000
Income Taxes Paid
0000000000
Free Cash Flow
486.9M▲ 0%
53.51M▼ 89.0%
215.82M▲ 303.3%
-152.88M▼ 170.8%
-230.52M▼ 50.8%
22.39M▲ 109.7%
228.76M▲ 921.5%
19.08M▼ 91.7%
142.4M▲ 646.5%
12.52M▲ 0%
FCF Growth %
195.52%-89.01%303.34%-170.83%-50.79%109.72%921.49%-91.66%646.47%-94.82%

OCSL Banking Ratios

Oaktree Specialty Lending Corporation (OCSL) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201720182019202020212022202320242025TTM
Return on Equity (ROE)
-19.6%5.42%14.11%4.25%21.3%2.28%8.5%3.86%2.3%3.45%
Return on Assets (ROA)
-9.95%2.95%8.32%2.51%11.09%1.11%4%1.8%1.09%1.66%
Net Interest Margin
7.02%5.71%7.21%6.53%6.08%7.65%7.98%7.46%6.38%6.27%
Efficiency Ratio
-9.94%10.67%-0.03%18.91%2.68%7.27%2.59%-0.1%36.82%35.99%
Equity / Assets
53.69%55.31%62.84%55.76%49.8%47.07%47.11%46.52%48.81%47.75%
Book Value / Share
18.418.2619.8119.4724.2920.5121.0218.517.0315.69
NII Growth
-27.54%-21.97%20.54%0.38%49.62%26.33%26.85%-7.17%-19.64%-16.61%
Dividend Payout
-117.56%41.39%135.37%33.66%394.37%153.45%305.35%436.91%204.24%
Related:OCSL Dividend History·OCSL Revenue History·OCSL Price History·OCSL P/E History·OCSL Financial Ratios·OCSL Institutional Holders

OCSL SEC Filings & Documents

Oaktree Specialty Lending Corporation (OCSL) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 5, 2026·SEC

Material company update

Mar 4, 2026·SEC

Material company update

Feb 4, 2026·SEC

10-K Annual Reports

3
FY 2025

Nov 18, 2025·SEC

FY 2024

Nov 19, 2024·SEC

FY 2023

Nov 14, 2023·SEC

10-Q Quarterly Reports

6
FY 2026

May 5, 2026·SEC

FY 2026

Feb 4, 2026·SEC

FY 2025

Aug 5, 2025·SEC

OCSL Frequently Asked Questions

Oaktree Specialty Lending Corporation (OCSL) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Oaktree Specialty Lending Corporation (OCSL) grew revenue by 60.9% over the past year. This is strong growth.

Yes, Oaktree Specialty Lending Corporation (OCSL) is profitable, generating $49.6M in net income for fiscal year 2025 (11.3% net margin).

Dividend & Returns

Yes, Oaktree Specialty Lending Corporation (OCSL) pays a dividend with a yield of 14.85%. This makes it attractive for income-focused investors.

Oaktree Specialty Lending Corporation (OCSL) has a return on equity (ROE) of 2.3%. This is below average, suggesting room for improvement.

Industry Metrics

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.

What if you invested $1,000 in OCSL back in 2008?

Total return calculator · dividends reinvested · 18+ years of data

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How much would $100/month in OCSL be worth today?

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