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OXLC

Oxford Lane Capital Corp.

OXLC

Oxford Lane Capital Corp. • NASDAQ
$14.99 ▲ 1.28% (+0.19)
Market Cap $1.46 B
52w High $26.55
52w Low $12.88
Dividend Yield 5.30%
P/E 34.07
Volume 1.19M
Outstanding Shares 97.11M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2026 $225.506M ▲ $0 $20.886M ▲ 9.262% ▲ $0.24 ▲ $48.024M ▲
Q4-2025 $223.527M ▲ $0 $-17.135M ▼ -7.666% ▼ $-0.189 ▼ $3.657M ▼
Q2-2025 $204.2M ▲ $0 $65.592M ▼ 32.122% ▼ $1.3 ▼ $83.259M ▼
Q4-2024 $157.575M ▲ $0 $119.86M ▲ 76.065% ▼ $2.75 ▼ $136.29M ▲
Q2-2024 $133.067M $0 $115.245M 86.607% $2.85 $131.675M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2026 $19.102M ▼ $2.649B ▼ $785.399M ▼ $1.864B ▼
Q4-2025 $295.349M ▲ $2.84B ▲ $883.25M ▲ $1.957B ▲
Q2-2025 $206.491M ▲ $2.229B ▲ $623.481M ▲ $1.606B ▲
Q4-2024 $42.974M ▲ $1.751B ▲ $579.853M ▲ $1.171B ▲
Q2-2024 $27.106M $1.5B $501.892M $998.41M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2026 $20.886M ▲ $447.178M ▲ $-609.394M ▲ $-114.031M ▼ $-276.247M ▼ $447.178M ▲
Q4-2025 $-17.135M ▼ $368.942M ▼ $-826.729M ▼ $546.645M ▲ $88.858M ▼ $368.942M ▼
Q2-2025 $65.592M ▼ $485.93M ▲ $-731.94M ▼ $409.527M ▲ $163.517M ▲ $485.93M ▲
Q4-2024 $119.86M ▲ $214.547M ▲ $-253.693M ▲ $55.015M ▼ $15.869M ▲ $214.547M ▲
Q2-2024 $115.245M $208.621M $-293.269M $90.014M $5.366M $208.621M

Five-Year Company Overview

Income Statement

Income Statement OXLC’s income line is highly volatile, which is typical for a fund focused on complex credit like CLOs. Over the last few years it has swung from sizable losses to strong profits as credit markets moved from stress to recovery. After a weak year in the recent past, results have bounced back into healthy profitability, though the most recent period shows earnings that are positive but lower than the prior peak. This pattern suggests that OXLC’s results are very sensitive to credit conditions, valuations, and realized gains rather than to steady fee income. Share-level earnings have also been choppy, which can make year‑to‑year performance hard to interpret without looking at the broader credit cycle.

Balance Sheet

Balance Sheet The balance sheet has expanded meaningfully over the period shown, with total investments and shareholder equity both growing. Leverage has been used but does not appear extreme relative to the size of the asset base, which is typical for this kind of credit fund. Cash balances are relatively small compared with total assets, reflecting that most capital is deployed into CLO positions rather than held idle. This structure can support higher income but also means the company depends on the liquidity of its portfolio and continued access to financing rather than on large cash cushions.

Cash Flow

Cash Flow Cash flow from operations has been consistently negative in most recent years, even when accounting profits looked strong. That pattern is common for closed‑end funds and often reflects heavy reinvestment into new CLO positions, payment of sizable distributions, and the timing of cash receipts versus reported income. Still, it underlines that reported earnings are not the same as cash coming in the door. The company appears to rely on portfolio recycling and external capital sources to fund its activities and payouts, which can become more challenging in stressed credit markets.

Competitive Edge

Competitive Edge OXLC occupies a narrow but specialized niche: investing mainly in CLO debt and equity. Its edge comes from deep familiarity with this complex asset class, a management team that focuses almost exclusively on it, and relationships with CLO managers and arrangers that can provide deal access. This focus can be an advantage versus generalist funds that only dabble in CLOs, but it also concentrates risk in a single, cyclical segment of the credit market. Competition exists from other specialty credit funds and large asset managers, so maintaining access to attractive deals and managing risk through cycles is central to preserving its position.

Innovation and R&D

Innovation and R&D There is little in the way of traditional research and development; innovation here is strategic rather than technological. OXLC’s “innovation” lies in its flexible, opportunistic approach to choosing CLO tranches, structuring the portfolio, and shifting between higher‑risk equity layers and more senior, income‑oriented debt. Its moat is based on expertise, due‑diligence depth, and industry relationships rather than proprietary tools. This knowledge‑driven edge can be powerful but is also dependent on the stability and skill of the investment team and can, in principle, be replicated by other experienced credit investors.

Summary

Overall, OXLC is a specialized credit vehicle with results that swing with the health of leveraged loan and CLO markets. The story over the past several years is one of balance‑sheet growth, recoveries after a loss period, and ongoing reliance on complex, higher‑yielding instruments. Strengths include deep focus, an experienced team, and growing scale in its niche. Key risks center on earnings volatility, negative operating cash flow, dependence on capital markets, and concentrated exposure to one intricate asset class. Future performance will likely continue to track the broader credit cycle and the management team’s ability to navigate shifts in credit quality, funding conditions, and CLO market dynamics.

NEWS

October 21, 2025 · 8:29 AM UTC

Oxford Lane Capital Corp. Schedules Second Fiscal Quarter Earnings Release and Conference Call for November 3, 2025

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September 12, 2025 · 8:00 AM UTC

Oxford Lane Capital Corp. Provides September 8, 2025 Net Asset Value Update

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September 8, 2025 · 4:01 PM UTC

Oxford Lane Capital Corp. Announces Completion of its Previously Announced 1-for-5 Reverse Stock Split

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