Latest Ratios: P/E Ratio -3.0x · EV/EBITDA N/A · ROE -12.2%. (2003–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $92M | $135M | $155M | $154M | $155M | $202M | $151M | $260M | $321M | $334M | $408M |
| Enterprise Value | $197M | $240M | $244M | $271M | $333M | $379M | $199M | $380M | $456M | $366M | $620M |
| P/E Ratio → | -2.96 | — | 26.35 | 8.94 | — | 5.10 | 88.15 | — | — | 6.92 | 3.48 |
| P/S Ratio | — | — | 8.69 | 6.78 | — | 7.59 | 27.24 | 4.93 | 6.54 | 6.89 | 7.84 |
| P/B Ratio | 0.46 | 0.93 | 0.96 | 1.02 | 1.12 | 0.83 | 0.67 | 1.05 | 1.02 | 0.86 | 1.06 |
| P/FCF | — | 7.34 | 6.02 | 5.77 | 7.91 | 12.13 | 7.92 | 5.44 | — | 1.54 | 2.23 |
| P/OCF | 5.01 | 7.34 | 6.02 | 5.77 | 7.91 | 12.13 | 7.92 | 5.44 | — | 1.54 | 2.23 |
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 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | — | 13.67 | 11.93 | — | 14.20 | 35.85 | 7.20 | 9.28 | 7.55 | 11.91 |
| EV / EBITDA | — | — | 41.42 | 15.75 | — | 14.24 | 116.07 | 7.85 | 11.20 | 8.40 | 14.10 |
| EV / EBIT | — | — | 41.42 | 15.75 | — | 14.24 | 116.07 | 7.85 | 11.20 | 8.40 | 14.10 |
| EV / FCF | — | 13.10 | 9.47 | 10.16 | 16.95 | 22.70 | 10.43 | 7.95 | — | 1.68 | 3.39 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 100.0% | 100.0% | 55.9% | 100.0% | 100.0% | 139.3% | 100.0% | 118.8% | 114.6% | 126.6% | 133.0% |
| Operating Margin | 131.5% | 131.5% | 33.0% | 75.8% | 105.1% | 99.7% | 30.9% | 91.7% | 82.9% | 89.9% | 84.5% |
| Net Profit Margin | 131.5% | 131.5% | 33.0% | 75.8% | 105.1% | 148.4% | 30.9% | -62.2% | -18.8% | 89.9% | 211.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -12.2% | -12.2% | 3.8% | 11.9% | -44.6% | 16.8% | 0.7% | -11.7% | -2.6% | 11.3% | 29.6% |
| ROA | -6.2% | -6.2% | 2.0% | 5.7% | -22.5% | 10.0% | 0.5% | -7.7% | -2.0% | 8.2% | 16.6% |
| ROIC | -4.8% | -4.8% | 1.6% | 4.3% | -17.0% | 5.2% | 0.4% | 8.6% | 6.7% | 6.2% | 5.0% |
| ROCE | -6.4% | -6.4% | 2.1% | 5.7% | -22.5% | 6.7% | 0.5% | 11.4% | 8.8% | 8.2% | 6.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.08 | 1.08 | 0.77 | 0.81 | 1.34 | 0.76 | 0.47 | 0.54 | 0.47 | 0.16 | 0.57 |
| Debt / EBITDA | — | — | 21.02 | 7.13 | — | 6.97 | 62.45 | 2.78 | 3.64 | 1.43 | 5.00 |
| Net Debt / Equity | — | 0.73 | 0.55 | 0.77 | 1.28 | 0.72 | 0.21 | 0.48 | 0.43 | 0.08 | 0.55 |
| Net Debt / EBITDA | — | — | 15.08 | 6.80 | — | 6.63 | 27.89 | 2.48 | 3.30 | 0.74 | 4.81 |
| Debt / FCF | — | 5.76 | 3.45 | 4.39 | 9.04 | 10.57 | 2.51 | 2.51 | — | 0.15 | 1.16 |
| Interest Coverage | -2.03 | -2.03 | 0.00 | 1.59 | -6.93 | 2.53 | 0.22 | 4.89 | 5.67 | 3.38 | 2.20 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 9.07 | 9.07 | 2.85 | 8.07 | 10.29 | 9.93 | 130.46 | 28.30 | 38.04 | 3020.34 | 10.37 |
| Quick Ratio | 9.07 | 9.07 | 2.85 | 8.07 | 10.29 | 9.93 | 130.46 | 28.30 | 38.04 | 3020.34 | 10.37 |
| Cash Ratio | 8.74 | 8.74 | 2.64 | 4.77 | 7.42 | 7.41 | 123.67 | 22.79 | 28.46 | 2582.72 | 4.77 |
| Asset Turnover | — | -0.05 | 0.06 | 0.08 | -0.25 | 0.06 | 0.02 | 0.14 | 0.11 | 0.11 | 0.09 |
| 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 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 46.9% | 23.3% | 16.6% | 18.6% | 13.1% | 10.1% | 19.9% | 14.7% | 12.3% | 12.3% | 14.6% |
| Payout Ratio | — | — | 438.1% | 166.0% | — | 51.6% | 1759.2% | — | — | 94.4% | 54.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 3.8% | 11.2% | — | 19.6% | 1.1% | — | — | 14.5% | 28.7% |
| FCF Yield | — | 13.6% | 16.6% | 17.3% | 12.6% | 8.2% | 12.6% | 18.4% | — | 65.1% | 44.8% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 7.8% | 0.0% | 6.3% |
| Total Shareholder Yield | 46.9% | 23.3% | 16.6% | 18.6% | 13.1% | 10.1% | 19.9% | 14.7% | 20.1% | 12.3% | 20.9% |
| Shares Outstanding | — | $76M | $63M | $54M | $50M | $50M | $49M | $48M | $50M | $58M | $62M |
Includes 30+ ratios · 23 years · Updated daily
Live VCP patterns, Cup & Handle overlays, support/resistance, and AI trade plans.
High-probability breakout stocks crossing their pivot across 5 pattern engines.
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying OXSQ stock.
Oxford Square Capital Corp.'s current P/E ratio is -3.0x. The historical average is 18.5x.
Oxford Square Capital Corp.'s return on equity (ROE) is -12.2%. The historical average is 2.4%.
Based on historical data, Oxford Square Capital Corp. is trading at a P/E of -3.0x. Compare with industry peers and growth rates for a complete picture.
Oxford Square Capital Corp.'s current dividend yield is 46.89%.
Oxford Square Capital Corp. has 100.0% gross margin and 131.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Key Metrics
Top Statement Risk
Portfolio Valuation Volatility
Metrics are mathematically derived from official filings.
Market Skepticism Reflects Asset Impairment
According to current market data, OXSQ trades at a price-to-book ratio of 0.69, which, as noted in recent financial filings, suggests that investors are pricing in a significant discount to net asset value due to persistent concerns regarding the underlying quality of the CLO equity portfolio.
The forward P/E of 7.76 appears to imply a market expectation of earnings recovery that may be disconnected from the historical trend of capital erosion. This valuation level warrants caution, as it likely reflects a risk premium associated with the firm's inability to consistently generate net income above its distribution requirements.
Margin Volatility Obscures Earning Power
As reported in financial statements, OXSQ's net margin has fluctuated wildly, reaching a negative 159.2% in 2025Q4, which indicates that the firm's core earning power is frequently overwhelmed by non-recurring portfolio markdowns rather than stable interest income from its debt investments.
The discrepancy between gross margins and net margins suggests that while the firm collects interest, the subsequent unrealized depreciation of assets consistently erodes shareholder value. Investors should monitor whether these margin swings are structural features of the CLO equity strategy or indicative of deeper credit deterioration within the tech-heavy loan book.
Capital Compounding Remains Elusive
Based on quarterly data, OXSQ has struggled to maintain positive returns on invested capital, with ROIC dipping to negative 5.9% in 2026Q1, a trend that suggests the firm is currently failing to generate sufficient returns to cover its cost of capital or preserve its equity base.
The consistent decay in ROE and ROIC over the last ten quarters implies that management's capital allocation strategy has not successfully navigated the volatility of the leveraged loan market. This performance gap compared to peers suggests that the firm's reliance on high-volatility CLO tranches may be structurally detrimental to long-term capital preservation.
Debt Reliance Amidst Equity Contraction
As indicated by recent financial statements, OXSQ's debt-to-equity ratio has climbed to 1.23 in 2026Q1, which, when viewed alongside a shrinking equity base, suggests that the firm is increasing its financial leverage even as its underlying asset quality appears to be under significant pressure.
The negative interest coverage ratio of -8.14 in the most recent quarter is particularly concerning, as it implies that the firm's operating income is insufficient to service its debt obligations without relying on capital recycling. This leverage profile warrants further investigation into the firm's ability to refinance existing debt if market conditions for CLO equity continue to soften.
Dividend Yield Misleads Total Return
The dividend yield of 31.0% is the most commonly misapplied metric for OXSQ, as it obscures the reality that these distributions are often funded by a return of capital rather than sustainable net investment income, as evidenced by the persistent erosion of the firm's net asset value.
Investors should prioritize the 'Net Increase in Net Assets' over the headline dividend yield to understand the true economic performance of the business. Relying on the yield alone ignores the potential for long-term capital loss, which may ultimately outweigh the cash distributions received by shareholders.