Oxford Square Capital Corp. OXSQ

FinancialsCollective InvestmentsUnited States of America

Last close 0.94 USD on Nov 2, 2026, −33.3% year to date

Quant rating

Quant rating D Rank 771 of 799 in Financials

Growth C 518 of 799
Valuation D 735 of 799
Quality D 614 of 799
Revisions D 598 of 799
Momentum D 791 of 799

Wall Street consensus Hold (3.00)

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 112M
Enterprise value: 230M
52-week range: 0.79 – 2.04
3-year range: 0.79 – 3.29
Dividend yield: 45.69%
Beta (5 years): 0.35
Shares outstanding: 120M
Next earnings: Mar 1, 2027

About the company

Oxford Square Capital Corp. is a closed-end, non-diversified management investment company. The Company’s investment objective is to maximize its portfolio’s total return. It focuses on risk-adjusted total return by investing primarily in corporate debt securities and collateralized loan obligation (CLO) structured finance investments that own corporate debt securities. CLO investments may also include warehouse facilities, which are early-stage CLO vehicles intended to aggregate loans that may be used to form the basis of a traditional CLO vehicle. The Company may also invest in publicly traded debt and/or equity securities. Its portfolio of investments in various industries includes artificial intelligence, business services, food and beverage, healthcare, industrials, materials, software, telecommunication services, structured finance, and information technology (IT) consulting. The Company's investment adviser is Oxford Square Management, LLC.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	40.3	42.7	51.8	43.1	37.2	–
Revenue growth	−5.5%	−17.6%	20.2%	16.0%	3.4%	2.3%
EPS (basic, normalized)	0.30	0.42	0.32	0.42	0.32	–
EPS growth	−28.6%	31.2%	−23.8%	31.2%	–	–
Gross margin	66.7%	71.5%	63.1%	57.7%	54.9%	62.8%
Net margin	−46.4%	13.8%	33.3%	−198.4%	106.5%	−18.3%
ROE	−12.2%	3.8%	11.9%	−44.6%	16.8%	−4.9%

Balance sheet, last quarter
Cash & short-term investments (mil)	43.5
Current ratio	–
Long-term debt (mil)	152
Net debt (mil)	117
Total equity (mil)	145
Net debt / equity	0.81x
Net debt / EBITDA	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	40.3	−5.5%	5.7x	–	–	–	0.30	−28.6%	3.1x
2026	–	–	–	–	–	–	0.19	−36.7%	4.9x
2027	–	–	–	–	–	–	0.22	+15.8%	4.3x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	–	–	–	–	0.19	0.0%	0.0%	−24.0%
2027	–	–	–	–	0.22	0.0%	0.0%	–
2028	–	–	–	–	–	–	–	–

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	FQ-5	FQ-4	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	6.2	11.4	10.3	10.2	–	–	10.2	10.4	8.9	8.3
Sales mean (mil)	12.0	12.0	11.8	–	–	–	9.6	10.1	10.0	–
Surprise	−48.5%	−4.6%	−12.4%	–	–	–	+6.7%	+2.7%	−10.4%	–
EPS reported	0.11	0.13	0.10	0.09	–	–	0.07	0.07	0.05	0.05
EPS mean	0.13	0.13	0.12	–	–	–	0.07	0.07	0.06	0.06
Surprise	−15.4%	0.0%	−16.7%	–	–	–	0.0%	0.0%	−16.7%	−16.7%

Peer comparison Collective Investments

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
OXSQ Oxford Square Capital Corp.	112M	–	−46.4%	0.73x	4.9x	4.3x	–	–
FSK FS KKR Capital Corp.	3.2B	–	0.7%	0.63x	7.0x	7.6x	–	–
TSLX Sixth Street Specialty Lending, Inc.	1.7B	–	38.0%	1.12x	10.4x	9.9x	–	–
OCSL Oaktree Specialty Lending Corp	1.1B	–	10.7%	0.79x	8.3x	9.1x	–	–
BBDC Barings BDC Inc	920M	–	36.5%	0.80x	8.5x	8.7x	–	–
PSEC Prospect Capital Corporation	865M	–	4.7%	0.18x	4.3x	4.6x	–	–
Mean		–	7.4%	0.71x	7.2x	7.4x	–	–
Median		–	7.7%	0.76x	7.7x	8.1x	–	–

Technical analysis

1M−24.8%
3M−34.7%
1Y−35.9%
3Y−43.6%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Oxford Square Capital Corp., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	40.3	42.7	51.8	43.1	37.2	35.9
Cost of revenue	13.4	12.2	19.1	18.3	16.8	12.6
Gross profit	26.9	30.5	32.7	24.9	20.4	23.3
Selling, general & administrative expenses	4.3	4.1	5.3	4.2	4.3	3.6
Research & development	–	–	–	–	–	–
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	0.2	0	0.2	0	0	0
Other operating expenses	0	0	0	0	0	0
Operating income	22.4	26.4	27.2	20.7	16.1	19.7
Net interest income (expense)	−41.2	−20.6	−9.9	−106	23.5	−18.0
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	−18.7	5.9	17.2	−85.6	39.6	1.7
Provision for taxes	–	–	–	–	–	–
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	−18.7	5.9	17.2	−85.6	39.6	1.7
Extraordinary items	–	–	–	–	–	–
Net income	−18.7	5.9	17.2	−85.6	39.6	1.7
EBIT, normalized	22.6	26.4	27.4	20.7	16.1	19.7
EBITDA, normalized	–	–	–	–	–	–
Basic EPS, normalized	0.30	0.42	0.32	0.42	0.32	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Oxford Square Capital Corp., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	51.9	34.9	5.7	9.0	9.0	59.1
Receivables	2.0	2.7	4.0	3.5	3.1	2.3
Total inventory	–	–	–	–	–	–
Prepaid expenses	–	–	–	–	–	–
Other current assets	–	–	–	–	–	–
Total current assets	–	–	–	–	–	–
Property, plant & equipment	–	–	–	–	–	–
Goodwill	–	–	–	–	–	–
Intangibles	–	–	–	–	–	–
Long-term investments	252	261	267	315	421	295
Note receivable	–	–	–	–	–	–
Other long-term assets	55.0	38.9	10.8	13.3	12.7	63.0
Total assets	307	300	278	328	434	358
Liabilities
Accounts payable	1.0	1.2	1.0	1.3	1.7	1.2
Payable/accrued	–	–	–	–	–	–
Accrued expenses	2.7	2.2	2.4	1.7	1.8	1.1
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	–	–	–	–	–	–
Other current liabilities	–	–	–	–	–	–
Total current liabilities	–	–	–	–	–	–
Long-term debt	152	124	123	186	185	107
Minority interest	–	–	–	–	–	–
Other liabilities	9.7	15.5	3.4	3.0	3.5	25.4
Total liabilities	161	139	126	189	189	132
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	0.9	0.7	0.6	0.5	0.5	0.5
Additional paid-in capital	523	488	458	435	434	453
Retained earnings (accumulated deficit)	−378	−328	−307	−297	−190	−228
Treasury stock	–	–	–	–	–	–
Other equity	0	0	0	0	0	0
Total equity	145	161	151	139	245	225
Total liabilities & shareholders' equity	307	300	278	328	434	358

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Oxford Square Capital Corp., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	−18.7	5.9	17.2	−85.6	39.6	1.7
Depreciation, depletion & amortization	–	–	–	–	–	–
Deferred taxes	–	–	–	–	–	–
Non-cash items	91.2	107	40.9	177	38.3	110
Changes in working capital	−86.2	−87.2	7.5	−70.8	−185	−16.9
Cash from operations	−13.7	25.7	65.7	20.4	−107	95.1
Investing activities
Capital expenditures	–	–	–	–	–	–
Other investing cash flows	–	–	–	–	–	–
Cash from investing	–	–	–	–	–	–
Financing activities
Financing cash flow items	−3.2	−0.5	−1.3	0	−2.8	−0.1
Cash dividends paid	−31.3	−25.8	−28.6	−20.4	−20.4	−30.1
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	65.3	29.7	−39.0	0	80.5	−22.2
Cash from financing	30.7	3.5	−69.0	−20.4	57.3	−52.4
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	17.0	29.2	−3.3	0	−50.1	42.7
Free cash flow	−13.7	25.7	65.7	20.4	−107	95.1

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.