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FSCO

FS Credit Opportunities Corp.

FSCO

FS Credit Opportunities Corp. • NYSE
$6.21 ▼ -2.05% (-0.13)
Market Cap $1.23 B
52w High $7.65
52w Low $5.29
Dividend Yield 0.79%
P/E 6.9
Volume 1.97M
Outstanding Shares 198.36M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $253.083M ▲ $2.158B ▼ $709.981M ▼ $1.448B ▲
Q4-2024 $189.344M ▲ $2.327B ▲ $907.939M ▲ $1.419B ▼
Q2-2024 $103.006M ▼ $2.144B ▲ $724.72M ▲ $1.419B ▲
Q4-2023 $106.203M ▼ $2.087B ▼ $714.037M ▼ $1.373B ▲
Q2-2023 $186.658M $2.118B $792.93M $1.325B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow

Five-Year Company Overview

Income Statement

Income Statement FSCO looks like a relatively young fund that has moved from losses in its first listed year to solid profitability over the last two years. Both revenue and net income have been positive and fairly healthy, though they eased a bit in the most recent year instead of continuing to climb. Profitability levels still appear strong for an asset-management style vehicle, but the step down from the prior year suggests returns may be normalizing after an unusually strong period. Overall, the income statement shows a profitable credit strategy with good margins, but also hints that results are sensitive to market conditions and may not move in a straight line.

Balance Sheet

Balance Sheet The balance sheet shows a steadily growing investment platform: total assets have been rising, and equity has also increased, giving the fund a solid capital base. Cash on hand has improved, which offers some flexibility, but borrowing has also climbed, meaning leverage is playing a bigger role in returns. For a closed-end credit fund, this use of debt is expected, yet it does add sensitivity to credit spreads, interest rates, and portfolio performance. In simple terms, FSCO’s balance sheet is larger, more levered than at launch, and still supported by a meaningful equity cushion.

Cash Flow

Cash Flow FSCO has consistently generated positive operating cash flow, but the trend has been downward from its early peak, suggesting less cash coming in from its portfolio than before. Free cash flow mirrors operating cash flow since capital spending is negligible, which fits with a financial fund that doesn’t need heavy physical investment. Cash flow patterns for a credit fund can be lumpy, driven by interest receipts, portfolio turnover, and distributions, so year-to-year swings are not unusual. Overall, cash generation is positive but appears to be moderating, which is worth watching alongside income trends.

Competitive Edge

Competitive Edge FSCO competes in a crowded credit and income-focused fund space, but it stands out through its flexible mandate and middle-market focus. The ability to move between public and private credit, lean into senior secured loans, and pursue special situations can be an advantage when markets are volatile. Being part of a large alternatives platform provides deal flow, structuring expertise, and scale that smaller funds may lack. The flip side is that many sophisticated players also target these same credit niches, and performance is heavily dependent on the manager’s judgment through the credit cycle. FSCO’s edge is more about human expertise, sourcing, and structuring than about unique technology or a hard-to-replicate product.

Innovation and R&D

Innovation and R&D Innovation at FSCO is primarily strategic rather than technological. The fund’s key “R&D” is its dynamic allocation across the credit spectrum, its emphasis on middle-market and senior secured lending, and its willingness to pursue event-driven and special situations. This approach allows the team to adapt to changing conditions, but it also makes results closely tied to active calls on sectors, structures, and timing. The manager’s broader platform reportedly uses solid digital infrastructure, yet there is little evidence of a differentiated, proprietary tech edge. Future innovation is more likely to come from new credit niches, deal structures, and collaboration across the parent company’s platform than from traditional research labs or technology development.

Summary

FSCO has transitioned from an initial loss-making phase to a profitable, income-generating credit fund with solid margins and a growing asset base. Its balance sheet shows a larger, more levered platform supported by rising equity, consistent with a closed-end credit strategy that aims to enhance returns with borrowing. Cash flows remain positive but have softened from earlier levels, mirroring the moderation seen in earnings. Competitively, FSCO leans on flexible credit investing, middle-market expertise, and access to a large pipeline of deals through its parent organization, while facing the usual risks of credit cycles, leverage, and strong competition. Its main innovation is in how it allocates and structures credit risk, not in technology, making long-term outcomes highly dependent on the manager’s skill and discipline in navigating changing market environments.

NEWS

October 22, 2025 · 4:15 PM UTC

FSCO Announces Earnings Release and Conference Call Schedule for Third Quarter 2025

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October 8, 2025 · 4:15 PM UTC

FS Credit Opportunities Corp. (FSCO) Declares Distribution for October, November and December 2025

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September 8, 2025 · 4:15 PM UTC

FS Credit Opportunities Corp. (FSCO) Declares Distribution for September 2025

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