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OFS

OFS Capital Corporation

OFS

OFS Capital Corporation • NASDAQ
$4.75 ▼ -3.06% (-0.15)
Market Cap $63.64 M
52w High $9.80
52w Low $4.59
Dividend Yield 1.36%
P/E 19.79
Volume 39.10K
Outstanding Shares 13.40M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $5.905M ▼ $1.544M ▲ $-5.327M ▲ -90.212% ▲ $-0.4 ▲ $-5.327M ▲
Q2-2025 $10.476M ▲ $1.051M ▼ $-9.631M ▼ -91.934% ▼ $-0.72 ▼ $-9.631M ▼
Q1-2025 $10.295M ▼ $1.093M ▼ $-7.287M ▼ -70.782% ▼ $-0.54 ▼ $-7.287M ▼
Q4-2024 $11.648M ▲ $1.096M ▲ $25.475M ▲ 218.707% ▲ $1.9 ▲ $25.475M ▲
Q3-2024 $10.918M $920K $1.688M 15.461% $0.13 $1.688M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $5.008M ▼ $378.15M ▼ $241.836M ▼ $136.314M ▼
Q2-2025 $10.238M ▲ $395.442M ▼ $249.246M ▼ $146.196M ▼
Q1-2025 $4.054M ▼ $411.963M ▼ $251.58M ▼ $160.383M ▼
Q4-2024 $6.068M ▼ $428.123M ▲ $255.898M ▼ $172.225M ▲
Q3-2024 $20.278M $418.538M $267.233M $151.305M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-5.327M ▼ $1.187M ▼ $4.842M ▲ $-11.259M ▼ $-5.23M ▼ $1.187M ▼
Q2-2025 $0 ▲ $15.39M ▲ $0 $-9.206M ▼ $6.184M ▲ $15.39M ▲
Q1-2025 $-7.287M ▼ $2.841M ▲ $0 ▼ $-4.855M ▲ $-2.014M ▲ $2.841M ▲
Q4-2024 $25.475M ▲ $-14.588M ▼ $5.683M ▲ $-5.305M ▼ $-14.21M ▼ $-14.588M ▼
Q3-2024 $1.688M $17.282M $1.971M $-4.555M $14.698M $17.282M

Five-Year Company Overview

Income Statement

Income Statement Earnings have been quite up and down over the last few years. OFS moved from solid profits to a loss in 2022, then back to profitability more recently, with earnings per share swinging sharply along the way. Revenue itself looks fairly steady, but small changes in income or credit performance seem to have a big impact on the bottom line. This pattern suggests a business that can generate good returns in favorable conditions but is sensitive to credit quality, funding costs, and valuation marks on its investments.

Balance Sheet

Balance Sheet The balance sheet shows a typical structure for a business development company: a meaningful level of debt funding a portfolio of loans and investments, supported by a moderate equity base. Assets have drifted slightly lower from earlier peaks, while leverage remains a key feature of the model. Cash balances move around from year to year, which likely reflects timing of investment activity, repayments, and capital markets actions. Overall, the company appears reasonably capitalized, but ongoing performance depends heavily on asset quality and prudent use of debt.

Cash Flow

Cash Flow Cash generation from the core business has been uneven but generally positive over the five-year period, with only a brief dip into negative territory. Since OFS is essentially an investment vehicle, there is virtually no traditional capital spending, so operating cash flow and free cash flow move in tandem. This means the stability of cash flow rests largely on interest and fee income from its portfolio and on the timing of repayments, restructurings, and exits, rather than on big operating cost swings.

Competitive Edge

Competitive Edge OFS operates in the crowded middle-market lending and asset management space, competing with banks, private credit funds, and other BDCs. Its edge is less about technology and more about experience, relationships, and deal selection. The firm leans heavily on senior secured lending, which can offer better downside protection than junior capital, and uses a relationship-driven approach with sponsors and management teams. At the same time, its relatively small size makes it more exposed to individual deal outcomes, portfolio concentration, and shifts in credit markets. Competition for good loans and changes in interest rates remain important pressure points.

Innovation and R&D

Innovation and R&D OFS does not stand out for classic technology R&D, but rather for process and platform refinements. Management highlights an integrated credit and risk platform, a broad toolkit across the capital structure, and the integration of ESG considerations into underwriting. More recently, the company has been actively reshaping its portfolio toward income-producing, senior secured assets and away from riskier or non-yielding equity positions. Refinancing its own debt and recalibrating dividends also signal a focus on balance-sheet resilience and more sustainable income, rather than aggressive growth at any cost.

Summary

OFS is a specialized lender to middle-market companies, with a strategy centered on senior secured debt and flexible financing structures. Financially, the story is one of decent revenue stability but notable earnings volatility, reflecting the inherent swings in credit performance, valuations, and funding costs. The balance sheet uses leverage in a typical BDC fashion, making risk management and loan quality critical. Cash flow has been generally supportive, though not perfectly smooth. Competitively, OFS relies on its experienced team, sourcing network, and relationship focus rather than technological disruption. Key aspects to monitor going forward are credit quality in the loan book, the impact of interest rates on both borrowing costs and lending yields, progress in rotating into more stable, income-generating assets, trends in net asset value per share, and how management balances dividends with long-term capital preservation.

NEWS

November 17, 2025 · 5:00 PM UTC

OFS Credit Company Announces Preliminary Estimates of Certain Financial Results for its Fourth Fiscal Quarter 2025

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November 4, 2025 · 5:00 PM UTC

OFS Credit Company Executes Master Repurchase Agreement

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October 30, 2025 · 4:30 PM UTC

OFS Capital Corporation Announces Third Quarter 2025 Financial Results

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October 28, 2025 · 1:19 PM UTC

OFS Capital Corporation Announces Date for its Third Quarter 2025 Earnings Release and Conference Call

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October 15, 2025 · 5:00 PM UTC

OFS Credit Company Provides September 2025 Net Asset Value Update

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