Oaktree Specialty Lending Corpo (OCSL) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Oaktree Specialty Lending Corpo

NasdaqGS•Financial Services•Asset Management

$12.67+0.09(0.01%)Market closed

Market Cap

$1.09B

P/E

25.8x

P/S

3.7x

P/B

0.8x

Oaktree Specialty Lending Corporation is a business development company. The fund specializing in investments in middle market, bridge financing, first and second lien debt financing, unsecured and mezzanine loan, mezzanine debt, senior and junior secured debt, expansions, sponsor-led acquisitions, preferred equity, and management buyouts in small and mid-sized companies. It seeks to invest in education services, business services, retail and consumer, healthcare, manufacturing, food and restaurants, construction and engineering. The firm also seeks investment in media, advertising sectors, software, IT services, pharmaceuticals, biotechnology, real estate management and development, chemicals, machinery, and internet and direct marketing retail sectors. It invests between $5 million to $75 million principally in the form of one-stop, first lien, and second lien debt investments, which may include an equity co-investment component in companies. The firm invest in companies having enterprise value between $20 million and $150 million and EBITDA between $3 million and $50 million. The fund has a hold size of up to $75 million and may underwrite transactions up to $100 million. It primarily invests in North America. The fund seeks to be a lead investor in its portfolio companies.

How this company scores

WeakMetricSide Score: 36/100

Strongest: Cash & Earnings Quality (15/25); weakest: Growth (2/25).

Profitability10/25

Growth2/25

Balance Sheet & Red Flags9/25

Cash & Earnings Quality15/25

Strengths

Strong marginsCash-backed earnings

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 25.8x5y range 10.6x – 146.3x

Currently near its 12-quarter median.

P/S · 3.7x5y range 3.2x – 3.7x

Currently near its 12-quarter median.

P/B · 0.8x5y range 0.7x – 0.9x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Earnings Quality

Red Flag

FCF consistently trails net income (avg 0.2x) — earnings may be inflated by non-cash items or aggressive accounting.

Revenue Decline

Red Flag

TTM revenue has contracted 15.8% — significant decline indicating deteriorating demand.

Price & Volume

Market Cap $1.09B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $292.23M
Q. Revenue: $69.43M
TTM EBITDA: $144.33M
TTM Op. Income: $139.98M
Q. Op. Income: $32.82M
TTM Net Income: $42.24M
Q. Net Income: $30.94M
EPS: $0.35
Shares Out.: $88.09M

$292.23M in TTM revenue declined 12.6% YoY, reaching $69.43M last quarter. TTM EBITDA of $144.33M and TTM operating income of $139.98M show growth is flowing through to the bottom line. TTM net income of $42.24M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has fallen for 7 consecutive quarters — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 48.8%
Op. Margin: 47.3%
Net Margin: 44.6%

Op. margin of 47.3% is up 2.7% YoY — cost efficiency is improving. Net margin at 44.6% Across the last 8 quarters, operating margin has fallen for 2 consecutive quarters — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 25.8x
P/S Ratio: 3.7x
P/B Ratio: 0.8x

At 25.8x P/E, the stock trades within typical market levels. P/S of 3.7x and P/B of 0.8x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 1% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $2.86B
Cash: $39.92M
Long-Term Debt: $1.44B
Book Value: $1.38B
D/E Ratio: 1.0
Debt/EBITDA: 42.4

With $2.86B in assets and $1.44B in long-term debt, D/E is 1.0and book value is $1.38B — moderate leverage. Across the last 8 quarters, debt/equity has fallen for 2 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $57.56M
TTM Free Cash Flow: $106.13M
FCF Margin: 36.3%
FCF / Net Income: 2.5

TTM FCF of $106.13M on $57.56M in operating cash flow. The FCF / Net Income ratio of 2.5x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 2 consecutive quarters — an improving trend.