Oaktree Specialty Lending Corp OCSL
Oaktree Specialty Lending Corporation, a Delaware corporation, or together with its subsidiaries, where applicable, the Company, which may also be referred to as "we," "us" or "our", is a specialty finance company dedicated to providing customized, one-stop credit solutions to companies with limited access to public or syndicated capital markets. We were formed in late 2007 and currently operate as a closed-end, externally managed, non-diversified management investment company that has elected to be regulated as a Business Development Company under the Investment Company Act of 1940, as amended, or the Investment Company Act. In addition, we have qualified and elected to be treated as a regulated investment company, or RIC, under the Internal Revenue Code of 1986, as amended, or the Code, for tax purposes. As a RIC, we generally will not have to pay corporate-level U.S. federal income taxes on any net ordinary income or net realized capital gains that we distribute to our stockholders if we meet certain source-of-income, income distribution and asset diversification requirements.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| SG&A | $3.6M | $2.6M | $3.5M | $3.0M | $2.7M | — |
| Interest expense | $115.8M | $128.6M | $111.6M | $46.9M | $30.5M | — |
| Pre-tax income | $34.0M | — | — | $30.5M | $238.0M | — |
| Income tax | $100.0K | — | — | $1.3M | $700.0K | — |
| Net income | $33.9M | $57.9M | $117.3M | $29.2M | $237.3M | — |
| EPS, basic | 0.39 | 0.72 | 1.63 | 0.48 | 4.39 | — |
| EPS, diluted | 0.39 | 0.72 | 1.63 | 0.48 | 4.39 | — |
| Shares, diluted (wtd. avg.) | $86.1M | $80.4M | $72.1M | $60.7M | $54.0M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $79.6M | $64.0M | $136.4M | $26.4M | $31.6M | $39.1M |
| Total assets | $3.00B | $3.20B | $3.22B | $2.65B | — | — |
| Long-term debt | $1.49B | $1.64B | $1.60B | $1.30B | — | — |
| Total liabilities | $1.54B | $1.71B | $1.70B | $1.40B | — | — |
| Retained earnings | -$885.1M | -$777.5M | -$651.3M | -$582.8M | — | — |
| Total equity | $1.47B | $1.49B | $1.52B | $1.25B | $1.31B | $914.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | $228.4M | $19.1M | $228.8M | $22.4M | -$230.5M | — |
| Financing cash flow | -$229.3M | -$86.8M | -$110.4M | -$26.8M | $224.2M | — |
| Dividends paid | $148.2M | $176.8M | $180.0M | $115.2M | $79.8M | — |
| Buybacks | $10.7M | $1.6M | $2.4M | $1.9M | $2.2M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001414932-25-000022.