Oaktree Specialty Lending Corporation (OCSL) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 16, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q3 FY2026, filed Aug 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the OCSL SEC filings page.
This page shows Oaktree Specialty Lending Corporation (OCSL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
The reported lending portfolio relies on balanced debt-and-equity financing, while accounting earnings weaken despite much higher operating cash flow.
The key mismatch is in FY2025: operating cash flow was$228.4M against net income of$33.9M , while dividends were$148.2M . That gap means reported distributions cannot be understood from accounting earnings alone; cash-flow movements beyond period income materially shape the reported result.
Net income fell from
Liabilities declined from
Financial Health Signals
Oaktree Specialty Lending Corporation does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Oaktree Specialty Lending Corporation passes 4 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.
For every $1 of reported earnings, Oaktree Specialty Lending Corporation generates $6.73 in operating cash flow ($228.4M OCF vs $33.9M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Oaktree Specialty Lending Corporation reported $30.9M in net income in Q3 2026. This represents a decrease of 19.3% from the same quarter a year earlier. Against the prior quarter it is up 263.8%.
Oaktree Specialty Lending Corporation earned $0.35 per diluted share (EPS) in Q3 2026. This represents a decrease of 20.5% from the same quarter a year earlier. Against the prior quarter it is up 266.7%.
Not reported for Q3 2026.
Not reported for Q3 2026.
Cash & Balance Sheet
Oaktree Specialty Lending Corporation held $39.9M in cash against $1.4B in long-term debt as of Q3 2026.
Not reported for Q3 2026.
Not reported for Q3 2026.
Margins & Returns
Oaktree Specialty Lending Corporation's ROE was 2.2% in Q3 2026, measuring profit generated per dollar of shareholder equity. This is down 0.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.6 percentage points.
Not reported for Q3 2026.
Not reported for Q3 2026.
Not reported for Q3 2026.
Capital Allocation
Oaktree Specialty Lending Corporation spent $1.1M on share buybacks in Q3 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 71.2% from the same quarter a year earlier. Against the prior quarter it is down 5.1%.
Not reported for Q3 2026.
Not reported for Q3 2026.
OCSL Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| SG&A Expenses | $641K-35.7% | $1.2M+25.4% | $841K-9.2% | N/A | $997K+21.0% | $937K+78.1% | $926K+56.7% | N/A |
| Interest Expense | $24.1M-22.3% | $25.6M-9.1% | $26.7M-12.8% | N/A | $31.1M-4.5% | $28.2M-11.6% | $30.6M-5.0% | N/A |
| Income Tax | $300K | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | $30.9M-19.3% | -$18.9M+47.9% | $5.6M-22.5% | N/A | $38.4M+3324.3% | -$36.2M-488.2% | $7.2M-31.3% | N/A |
| EPS (Basic) | $0.35-20.5% | -$0.21+50.0% | $0.06-33.3% | $0.28-39.1% | $0.44+4300.0% | -$0.42-450.0% | $0.09-35.7% | $0.46-25.8% |
| EPS (Diluted) | $0.35-20.5% | -$0.21+50.0% | $0.06-33.3% | $0.28-39.1% | $0.44+4300.0% | -$0.42-450.0% | $0.09-35.7% | $0.46-25.8% |
| Diluted Shares (Avg) | 88M0.0% | 88M+2.5% | 88M+7.1% | N/A | 88M+7.6% | 86M+7.7% | 82M+5.7% | N/A |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, Operating Income, EBITDA.
OCSL Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.9B-3.6% | $2.9B-6.0% | $3.1B+0.5% | $3.0B-6.1% | $3.0B-10.8% | $3.1B-6.6% | $3.1B-5.6% | $3.2B-0.6% |
| Cash & Equivalents | $39.9M-50.0% | $51.3M-47.6% | $80.8M-28.4% | $79.6M+24.5% | $79.8M-17.2% | $97.8M-21.7% | $112.9M+0.5% | $64.0M-53.1% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $1.5B-0.8% | $1.5B-5.7% | $1.7B+1.7% | $1.5B-10.1% | $1.5B-18.5% | $1.6B-9.6% | $1.6B-6.9% | $1.7B+0.5% |
| Long-Term Debt | $1.4B-0.6% | $1.5B+2.3% | $1.6B+2.0% | $1.5B-9.3% | $1.4B-14.7% | $1.4B-11.4% | $1.6B-2.8% | $1.6B+2.4% |
| Total Equity | $1.4B-6.3% | $1.4B-6.3% | $1.4B-0.9% | $1.5B-1.5% | $1.5B-1.3% | $1.5B-3.2% | $1.4B-4.1% | $1.5B-1.8% |
| Retained Earnings | -$967.9M-8.5% | -$968.9M-8.5% | -$914.8M-12.2% | -$885.1M-13.9% | -$891.7M-15.9% | -$893.1M-23.2% | -$815.5M-18.2% | -$777.5M-19.4% |
Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities, Non-Current Liabilities.
OCSL Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $57.6M+173.1% | $130.7M+110.8% | -$83.5M-158.0% | $1.3M-98.6% | $21.1M+135.2% | $62.0M+451.9% | $144.0M+12696.1% | $95.5M-60.8% |
| Financing Cash Flow | -$68.9M-33.0% | -$160.3M-95.5% | $84.8M+189.0% | -$234K+99.8% | -$51.8M-272.8% | -$82.0M-454.8% | -$95.3M-550.4% | -$125.2M+26.9% |
| Dividends Paid | $28.9M-13.2% | $34.1M-8.1% | $34.1M-22.1% | $34.1M-22.0% | $33.2M-23.2% | $37.1M-13.4% | $43.8M-6.8% | $43.7M+6.7% |
| Share Buybacks | $1.1M-71.2% | $1.1M-73.4% | $1.1M-21.9% | $1.2M-24.5% | $3.8M | $4.3M | $1.5M | $1.6M |
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow.
OCSL Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Return on Equity | 2.2%-0.4pp | -1.4%+1.1pp | 0.4%-0.1pp | N/A | 2.6%+2.5pp | -2.5%-3.1pp | 0.5%-0.2pp | N/A |
| Return on Assets | 1.1%-0.2pp | -0.7%+0.5pp | 0.2%-0.1pp | N/A | 1.3%+1.3pp | -1.2%-1.5pp | 0.2%-0.1pp | N/A |
| Debt-to-Equity | 1.04+0.1x | 1.07+0.1x | 1.120.0x | 1.01-0.1x | 0.98-0.2x | 0.98-0.1x | 1.090.0x | 1.100.0x |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Current Ratio, Asset Turnover, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Oaktree Specialty Lending Corporation OCSL | FY2025 | N/A | $33.9M | N/A | $1.0B | — |
| Capital Southwest Corp CSWC | FY2026 | N/A | $135.5M | N/A | $1.5B | — |
| MidCap Financial Investment Corporation MFIC | FY2025 | N/A | $63.2M | N/A | $700.2M | — |
| Goldman Sachs BDC, Inc. GSBD | FY2025 | N/A | $119.3M | N/A | $1.0B | — |
| Prospect Capital Corporation PSEC | FY2026 | $9.0M | $153.7M | N/A | $870.1M | 10/100 |
Where Oaktree Specialty Lending Corporation Ranks
Frequently Asked Questions
Is Oaktree Specialty Lending Corporation profitable?
Yes, Oaktree Specialty Lending Corporation (OCSL) reported a net income of $33.9M in fiscal year 2025.
How much debt does Oaktree Specialty Lending Corporation have?
As of fiscal year 2025, Oaktree Specialty Lending Corporation (OCSL) had $79.6M in cash and equivalents against $1.5B in long-term debt.
What is Oaktree Specialty Lending Corporation's return on equity (ROE)?
Oaktree Specialty Lending Corporation (OCSL) has a return on equity of 2.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Oaktree Specialty Lending Corporation's operating cash flow?
Oaktree Specialty Lending Corporation (OCSL) generated $228.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Oaktree Specialty Lending Corporation's total assets?
Oaktree Specialty Lending Corporation (OCSL) had $3.0B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Oaktree Specialty Lending Corporation's debt-to-equity ratio?
Oaktree Specialty Lending Corporation (OCSL) had a debt-to-equity ratio of 1.01 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Oaktree Specialty Lending Corporation's return on assets (ROA)?
Oaktree Specialty Lending Corporation (OCSL) had a return on assets of 1.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Oaktree Specialty Lending Corporation's P/E ratio?
Oaktree Specialty Lending Corporation (OCSL) trades at 30.0x earnings, its market capitalization divided by net income of $33.9M net income, FY2025. The market capitalization is $1.0B as of Oct 16, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Oaktree Specialty Lending Corporation's price-to-sales ratio?
Oaktree Specialty Lending Corporation (OCSL) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $1.0B as of Oct 16, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Oaktree Specialty Lending Corporation's Piotroski F-Score?
Oaktree Specialty Lending Corporation (OCSL) has a Piotroski F-Score of 4 out of 6 computable signals; 3 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Oaktree Specialty Lending Corporation's earnings high quality?
Oaktree Specialty Lending Corporation (OCSL) has an earnings quality ratio of 6.73x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.