Latest Ratios: P/E Ratio -1.5x · EV/EBITDA N/A · ROE -39.2%. (2013–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $874M | $955M | $2.1B | $1.1B | $786M | $759M | $582M | $293M | $405M | $258M | $253M |
| Enterprise Value | $1.6B | $1.6B | $2.3B | $1.2B | $959M | $952M | $819M | $536M | $596M | $456M | $373M |
| P/E Ratio → | -1.50 | — | 44.53 | 4.54 | — | 6.03 | 2.01 | — | — | 6.80 | 2.41 |
| P/S Ratio | 2.59 | 2.83 | 37.33 | 3.89 | 3.41 | 4.29 | 4.57 | 2.40 | 4.53 | 3.45 | 4.37 |
| P/B Ratio | 0.85 | 0.93 | 1.09 | 0.91 | 0.99 | 0.80 | 0.98 | 1.09 | 1.14 | 0.89 | 1.09 |
| P/FCF | 1.26 | 1.37 | — | — | — | 1.39 | 4.69 | 2.39 | 4.42 | — | — |
| P/OCF | 1.26 | 1.37 | — | — | — | 1.39 | 4.69 | 2.39 | 4.42 | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.84 | 40.67 | 4.45 | 4.16 | 5.37 | 6.43 | 4.39 | 6.67 | 6.10 | 6.43 |
| EV / EBITDA | — | — | 48.10 | 5.42 | 4.96 | 6.71 | 8.83 | 6.06 | 9.30 | 8.49 | 8.90 |
| EV / EBIT | — | — | 48.10 | 5.42 | 4.96 | 6.71 | 8.83 | 6.06 | 9.30 | 8.49 | 8.90 |
| EV / FCF | — | 2.34 | — | — | — | 1.74 | 6.60 | 4.36 | 6.51 | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 68.2% | 68.2% | 59.8% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating Margin | -135.4% | -135.4% | 50.6% | 73.4% | 73.7% | 71.2% | 72.8% | 72.4% | 71.7% | 71.8% | 72.2% |
| Net Profit Margin | -149.4% | -149.4% | 50.6% | 76.6% | -65.3% | 63.2% | 227.7% | -238.3% | -23.5% | 50.8% | 181.6% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -39.2% | -39.2% | 3.1% | 23.9% | -19.7% | 16.3% | 67.0% | -93.5% | -6.5% | 14.6% | 57.8% |
| ROA | -25.1% | -25.1% | 2.1% | 15.2% | -12.5% | 10.7% | 39.5% | -52.7% | -3.9% | 8.5% | 32.4% |
| ROIC | -18.7% | -18.7% | 1.9% | 14.3% | 13.4% | 10.1% | 9.6% | 12.2% | 9.0% | 9.2% | 9.9% |
| ROCE | -22.7% | -22.7% | 2.1% | 14.7% | 14.2% | 12.1% | 12.6% | 16.0% | 11.8% | 12.1% | 12.9% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.75 | 0.75 | 0.25 | 0.17 | 0.25 | 0.24 | 0.55 | 0.95 | 0.60 | 0.75 | 0.57 |
| Debt / EBITDA | — | — | 10.05 | 0.87 | 1.01 | 1.60 | 3.54 | 2.88 | 3.32 | 4.06 | 3.19 |
| Net Debt / Equity | — | 0.66 | 0.10 | 0.13 | 0.22 | 0.20 | 0.40 | 0.90 | 0.54 | 0.68 | 0.51 |
| Net Debt / EBITDA | — | — | 3.95 | 0.68 | 0.89 | 1.36 | 2.56 | 2.74 | 2.98 | 3.68 | 2.85 |
| Debt / FCF | — | 0.97 | — | — | — | 0.35 | 1.91 | 1.98 | 2.09 | — | — |
| Interest Coverage | -9.74 | -9.74 | 1.26 | 6.85 | 6.08 | 6.43 | — | — | — | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | — | — | 7.74 | 29.51 | 1.10 | 1869.59 | — | — | — | — | — |
| Quick Ratio | — | — | 7.74 | 29.51 | 1.10 | 1869.59 | — | — | — | — | — |
| Cash Ratio | — | — | 7.74 | 17.75 | 1.10 | 1062.31 | — | — | — | — | — |
| Asset Turnover | — | 0.21 | 0.03 | 0.18 | 0.20 | 0.14 | 0.14 | 0.23 | 0.16 | 0.15 | 0.15 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 51.6% | 47.2% | 14.4% | 15.6% | 15.6% | 11.3% | 12.9% | 28.6% | 13.4% | 16.1% | 19.3% |
| Payout Ratio | — | — | 636.7% | 70.9% | — | 68.0% | 25.9% | — | — | 109.2% | 46.5% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 2.2% | 22.0% | — | 16.6% | 49.8% | — | — | 14.7% | 41.5% |
| FCF Yield | 79.6% | 72.9% | — | — | — | 72.1% | 21.3% | 41.9% | 22.6% | — | — |
| Buyback Yield | 2.3% | 2.1% | 3.2% | 0.0% | 0.0% | 0.0% | 1.1% | 10.2% | 0.0% | 19.5% | 6.0% |
| Total Shareholder Yield | 53.9% | 49.4% | 17.6% | 15.6% | 15.6% | 11.3% | 14.0% | 38.9% | 13.4% | 35.6% | 25.4% |
| Shares Outstanding | — | $98M | $91M | $42M | $30M | $21M | $18M | $14M | $8M | $5M | $5M |
Includes 30+ ratios · 14 years · Updated daily
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Quick answers to the most common questions about buying OXLC stock.
Oxford Lane Capital Corp.'s current P/E ratio is -1.5x. The historical average is 17.1x.
Oxford Lane Capital Corp.'s return on equity (ROE) is -39.2%. The historical average is 0.7%.
Based on historical data, Oxford Lane Capital Corp. is trading at a P/E of -1.5x. Compare with industry peers and growth rates for a complete picture.
Oxford Lane Capital Corp.'s current dividend yield is 51.55%.
Oxford Lane Capital Corp. has 68.2% gross margin and -135.4% operating margin.
Key Metrics
Top Statement Risk
CLO equity valuation volatility
Metrics are mathematically derived from official filings.
Market Pricing Reflects Asset Uncertainty
According to recent market data, OXLC trades at a P/B ratio of 0.83, which, when viewed alongside a negative TTM P/E of -1.46, suggests that investors are heavily discounting the fund's net asset value due to persistent concerns regarding the underlying CLO equity portfolio's long-term valuation.
The current discount to book value appears to reflect a market-wide skepticism regarding the recoverability of junior CLO tranches in a tightening credit environment. Investors should monitor whether this valuation gap represents a genuine opportunity or a structural recognition of permanent impairment in the fund's asset base.
Capital Efficiency Eroded by Volatility
As reported in financial statements, OXLC's ROIC has deteriorated from a positive 6.5% in 2023Q4 to a negative 19.8% by 2026Q4, indicating that the fund is currently failing to generate adequate returns on its invested capital base amidst significant mark-to-market valuation pressures.
The sharp decline in ROIC suggests that the fund's strategy of targeting junior CLO tranches is highly susceptible to cyclical downturns that impair capital efficiency. This trend warrants investigation into whether the current management of the portfolio can pivot effectively to preserve capital in a higher-default environment.
Asset Turnover Remains Structurally Low
Based on reported figures, OXLC's asset turnover ratio has remained consistently low, hovering near 0.07 to 0.10 over the last ten quarters, which highlights the fund's reliance on long-term yield capture rather than rapid asset rotation to drive its financial performance.
This low turnover is characteristic of a closed-end fund focused on holding CLO equity tranches until maturity or refinancing. However, the lack of meaningful improvement in this metric suggests that the fund lacks the operational flexibility to quickly reallocate capital when market conditions for leveraged loans deteriorate.
Rising Leverage Increases Portfolio Sensitivity
According to recent SEC filings, OXLC's debt-to-equity ratio has climbed to 0.75 in 2026Q4 from a low of 0.17 in 2024Q4, signaling that the fund is increasingly relying on external financing to support its operations and maintain its distribution policy during periods of asset depreciation.
The increase in leverage appears to heighten the fund's sensitivity to interest rate volatility and potential credit spread widening. Investors should monitor whether this rising debt burden will constrain the fund's ability to navigate future market stress without further eroding its net asset value.
Misapplication of Traditional P/E Multiples
Based on an analysis of the business model, the P/E ratio is the most commonly misapplied metric for OXLC, as it fails to account for the non-cash effective yield adjustments that frequently distort GAAP earnings and mask the fund's actual cash-generating capacity.
Analysts should instead prioritize Core Net Investment Income (Core NII) and cash distribution coverage ratios to assess the fund's true earning power. Relying on P/E in this context obscures the reality that reported net income is often a function of accounting estimates rather than realized cash flows from the underlying CLO tranches.