Logo

OAK-PA

Oaktree Capital Group, LLC 6.625% PFD UT A

OAK-PA

Oaktree Capital Group, LLC 6.625% PFD UT A • NYSE
$21.81 ▲ 1.30% (+0.28)
Market Cap $2.59 B
52w High $23.18
52w Low $20.02
Dividend Yield 1.24%
P/E 10.23
Volume 4.46K
Outstanding Shares 118.83M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $160.356M ▲ $458K ▼ $59.704M ▲ 37.232% ▲ $0.5 ▲ $0 ▼
Q2-2025 $121.039M ▼ $1.352M ▲ $21.563M ▲ 17.815% ▲ $0.12 ▲ $84.858M ▲
Q1-2025 $218.023M ▼ $853K ▲ $-4.999M ▼ -2.293% ▼ $-0.1 ▼ $62.417M ▼
Q4-2024 $257.601M ▲ $-2.278M ▼ $135.515M ▲ 52.607% ▲ $1.07 ▲ $664.303M ▲
Q3-2024 $140.32M $398K $43.591M 31.065% $0.33 $485.881M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $8.587M ▼ $6.63B ▲ $1.345B ▲ $5.285B ▲
Q2-2025 $15.207M ▼ $6.455B ▼ $1.175B ▼ $2.166B ▼
Q1-2025 $612.957M ▲ $7.015B ▼ $1.738B ▲ $2.249B ▼
Q4-2024 $449.851M ▲ $7.073B ▲ $1.603B ▼ $2.394B ▲
Q3-2024 $20.841M $6.966B $1.609B $2.305B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $181.154M ▲ $267.163M ▲ $-881.102M ▼ $1.385B ▲ $0 ▲ $267.163M ▲
Q2-2025 $66.658M ▲ $164.79M ▲ $491.606M ▲ $-981.267M ▼ $-324.772M ▼ $262.275M ▼
Q1-2025 $28.29M ▼ $111.71M ▲ $454.577M ▲ $-403.413M ▼ $163.106M ▲ $277.733M ▲
Q4-2024 $135.515M ▼ $77.625M ▼ $134.6M ▼ $-290.626M ▼ $-79.447M ▼ $77.625M ▲
Q3-2024 $442.516M $92.235M $329.007M $-270.307M $33.855M $-1.189B

Revenue by Products

Product Q3-2023Q4-2023Q1-2024Q2-2024
Evergreen Incentive Income
Evergreen Incentive Income
 $0 ▲$10.00M ▲$0 ▼$0 ▲
Investment Performance
Investment Performance
 $0 ▲$0 ▲$0 ▲$0 ▲
Closedend and Evergreen Incentive Income
Closedend and Evergreen Incentive Income
 $0 ▲$0 ▲$110.00M ▲$0 ▼
Incentive Income
Incentive Income
 $0 ▲$210.00M ▲$120.00M ▼$0 ▼
Closedend Incentive Income
Closedend Incentive Income
 $0 ▲$260.00M ▲$0 ▼$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Oaktree’s earnings profile looks like that of a mature, cyclical asset manager. Profitability has been consistently positive, but it jumps around with market conditions. Results were very strong a few years ago, then cooled, and have recently improved again from that lower base. The firm seems able to keep operating margins healthy even when revenue is softer, which suggests good cost discipline and a scalable, fee-based model. Still, the ups and downs in both revenue and earnings underline that Oaktree’s business is tied closely to credit and market cycles, not a smooth growth story.

Balance Sheet

Balance Sheet The balance sheet appears solid but evolving. Debt has increased over time, yet it still looks manageable relative to the firm’s size and equity base. Equity has come down sharply from earlier years, which may reflect restructurings, payouts, or ownership changes rather than simple operating weakness. Cash on hand is now quite lean, suggesting Oaktree runs with a relatively tight liquidity buffer and likely relies on predictable fee inflows and credit facilities. Overall, the firm does not look over‑levered, but the mix of assets, equity, and cash has clearly shifted over the past few years.

Cash Flow

Cash Flow Historical cash generation has been a strong point, with the business usually throwing off healthy operating and free cash flow, consistent with an asset‑light fee manager. The most recent period, however, shows a swing to negative operating and free cash flow, which stands out against prior years of positive figures. That kind of move can stem from timing effects, working capital shifts, or investment in new funds and strategies, but it does introduce some short-term uncertainty. The lack of heavy capital spending is a plus, yet investors should recognize that cash flows can be lumpy given the nature of asset management and incentive fees.

Competitive Edge

Competitive Edge Oaktree holds a distinct niche in alternative credit and distressed investing, reinforced by a long record, a recognisable investment philosophy, and backing from Brookfield. Its reputation for risk control, focus on complex and less efficient markets, and strong relationships with large institutional clients together form a meaningful moat. The firm often gets early looks at complicated situations where experience and trust matter more than price alone. On the other hand, it operates in a very competitive field with many global managers chasing similar opportunities, and its results remain exposed to credit cycles, fundraising conditions, and key investment personnel.

Innovation and R&D

Innovation and R&D Innovation at Oaktree is less about flashy technology and more about refining its investment process. The firm has built proprietary ESG evaluation tools, analytics dashboards, and risk systems that formalize how it judges borrowers and portfolio risks, especially in markets where data quality is poor. It is gradually adopting cloud, data analytics, and selective AI support, but with a cautious stance that fits its risk‑averse culture. Product innovation shows up in the continued build‑out of private credit, direct lending, and large opportunistic credit funds, expanding its toolkit while staying anchored to its core strengths in credit and distressed situations.

Summary

Overall, Oaktree looks like a seasoned, cycle‑sensitive asset manager with a distinctive edge in credit and distressed investing. Profitability has been consistently positive but volatile, cash generation was historically strong before a recent soft patch, and the balance sheet uses leverage but does not appear strained. The real strength lies in its culture of risk control, deep specialization, and institutional client base, now reinforced by Brookfield’s ownership. At the same time, results will continue to move with market conditions, competition in alternatives is intense, and recent shifts in equity and cash levels highlight that the financial profile is not static. For a preferred security like OAK‑PA, the underlying story is of a well‑established but cyclical manager, with solid competitive foundations and some near‑term cash flow and balance‑sheet dynamics worth monitoring.