Latest Ratios: P/E Ratio -4.2x · 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 | $2.5B | $2.5B | $2.3B | — | — | — | — | — | — | — | — |
| Enterprise Value | $3.1B | $3.1B | $2.5B | — | — | — | — | — | — | — | — |
| P/E Ratio → | -4.24 | — | 48.08 | — | — | — | — | — | — | — | — |
| P/S Ratio | 6.31 | 6.29 | 5.36 | — | — | — | — | — | — | — | — |
| P/B Ratio | 2.41 | 2.39 | 1.18 | — | — | — | — | — | — | — | — |
| P/FCF | 3.55 | 3.54 | — | — | — | — | — | — | — | — | — |
| P/OCF | 3.55 | 3.54 | — | — | — | — | — | — | — | — | — |
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 | — | 8.01 | 5.81 | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | 8.02 | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | 8.02 | — | — | — | — | — | — | — | — |
| EV / FCF | — | 4.51 | — | — | — | — | — | — | — | — | — |
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% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating Margin | -135.4% | -135.4% | 72.4% | 73.4% | 73.7% | 71.2% | 72.8% | 72.4% | 71.7% | 71.8% | 72.2% |
| Net Profit Margin | -149.4% | -149.4% | 11.3% | 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% | 12.3% | 14.3% | 13.6% | 10.3% | 9.6% | 12.2% | 9.0% | 9.2% | 9.9% |
| ROCE | -22.7% | -22.7% | 13.6% | 14.6% | 14.1% | 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 | 0.20 | 0.55 | 0.95 | 0.60 | 0.75 | 0.57 |
| Debt / EBITDA | — | — | 1.56 | 0.87 | 1.01 | 1.36 | 3.54 | 2.88 | 3.32 | 4.06 | 3.19 |
| Net Debt / Equity | — | 0.66 | 0.10 | 0.13 | 0.22 | 0.17 | 0.40 | 0.90 | 0.54 | 0.68 | 0.51 |
| Net Debt / EBITDA | — | — | 0.61 | 0.68 | 0.89 | 1.12 | 2.56 | 2.74 | 2.98 | 3.68 | 2.85 |
| Debt / FCF | — | 0.97 | — | — | — | 0.29 | 1.91 | 1.98 | 2.09 | — | — |
| Interest Coverage | -9.74 | -9.74 | 8.11 | 6.85 | 5.83 | 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 | — | — | 220.74 | 29.51 | 1406.80 | 1869.59 | — | — | — | — | — |
| Quick Ratio | — | — | 220.74 | 29.51 | 1406.80 | 1869.59 | — | — | — | — | — |
| Cash Ratio | — | — | 203.74 | 17.75 | 666.08 | 1062.31 | — | — | — | — | — |
| Asset Turnover | — | 0.21 | 0.15 | 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 | 18.2% | — | — | — | — | — | — | — | — | — | — |
| 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 | — | — | 2.1% | — | — | — | — | — | — | — | — |
| FCF Yield | 28.2% | 28.3% | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.8% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 19.0% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $98M | $91M | $42M | $30M | $21M | $18M | $14M | $8M | $5M | $5M |
CLO Portfolio Valuation Volatility
According to recent market data, Oxford Lane Capital trades at a P/B of 2.41, which suggests that investors are pricing the entity at a significant premium to its reported net asset value, despite the volatility inherent in its CLO equity-heavy investment portfolio and recent negative earnings performance.
The forward P/E of 6.37 implies that the market anticipates a recovery in earnings, yet this valuation remains highly sensitive to the underlying credit spread environment. Investors should monitor whether this premium is justified by the fund's ability to generate excess spread or if it reflects an over-optimistic outlook on the stability of the CLO equity tranches.
Based on reported figures, the ROIC has trended into negative territory, reaching -19.8% in 2026Q4, which indicates that the fund is currently failing to generate positive returns on its invested capital due to the significant mark-to-market depreciation of its underlying CLO equity holdings.
The decay in ROIC appears to be driven by the structural volatility of the portfolio rather than operational inefficiency. Analysts should distinguish between the cash-on-cash yield generated by the CLO distributions and the accounting-driven ROIC, as the latter is heavily distorted by non-cash valuation adjustments.
As reported in financial statements, the asset turnover ratio has remained consistently low at approximately 0.07 to 0.10, reflecting the nature of a closed-end fund that holds long-term, illiquid CLO equity tranches rather than high-velocity operating assets typical of traditional industrial or service-based business models.
This low turnover is a structural feature of the fund's investment strategy and does not necessarily imply operational inefficiency. However, it warrants investigation into whether the fund is effectively recycling capital during periods of market dislocation to enhance long-term returns.
Based on recent financial disclosures, the debt-to-equity ratio of 0.75 in 2026Q4, combined with an interest coverage ratio of -21.17, suggests that the fund's ability to service its debt obligations is currently under significant pressure from the volatility of its investment income and portfolio valuations.
The negative interest coverage ratio is a direct consequence of the accounting treatment of unrealized losses, which may not reflect the actual cash available for debt service. Investors should monitor the fund's ability to maintain its preferred share distributions and debt covenants under sustained credit market stress.
The P/E ratio is frequently misapplied to Oxford Lane Capital, as it fails to account for the non-cash mark-to-market adjustments that dominate the income statement, thereby obscuring the fund's true ability to generate distributable cash flow from its underlying CLO equity investments.
Analysts should instead focus on core investment income and distributable cash flow metrics to assess the fund's performance. Relying on GAAP-based P/E multiples may lead to erroneous conclusions regarding the fund's valuation and its capacity to sustain its dividend policy.
Includes 30+ ratios · 14 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying OXLCI stock.
Oxford Lane Capital Corp.'s current P/E ratio is -4.2x. The historical average is 48.1x.
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 -4.2x. Compare with industry peers and growth rates for a complete picture.
Oxford Lane Capital Corp.'s current dividend yield is 18.17%.
Oxford Lane Capital Corp. has 68.2% gross margin and -135.4% operating margin.