NASDAQ$OCSL

Oaktree Specialty Lending Corporation · Q4 2025 earnings

Q4 2025 earnings · · Before market open · Investor relations

Briefing

Oaktree Specialty Lending reported Q4 2025, net income of $35.8M, diluted EPS of $0.41.

For Q4 2025, Oaktree Specialty Lending reported net income of $35.8M, diluted EPS was $0.41. Management discusses segment performance, capital allocation, and sector risks in the quarterly filing.

  • Net income $35.8M.
  • Diluted EPS $0.41.
  • Oaktree Specialty Lending MD&A covers liquidity, credit, and operating priorities.

Headline financials

Total Revenue

$77.3M

Previous: $42.8M+80.5%
EPS (adj)

$0.41

Previous: $0.55-25.5%
NAV per share

$16.64

No prior period
Debt to equity

1.02

No prior period
Net debt to equity

0.97

No prior period
New commitments

$208M

No prior period
Avg yield on debt

9.8%

No prior period
Cash yield on debt

8.9%

No prior period
Portfolio yield

9.4%

No prior period
Non-accrual at FV

3.0%

No prior period
Non-accrual at cost

6.5%

No prior period
Floating-rate mix

90.7%

No prior period
Fixed-rate mix

9.3%

No prior period
Net Income

$35.8M

Previous: $44.9M-20.3%
Operating Income

$36.1M

Previous: $42.9M-16.0%

Revenue & EPS history

Oaktree · Revenue · Quarterly

$77.3M

Q4 2025+80.5%vs Q4 2024
Beat estimate in 4 of 14 quarters(29%)
ActualEstimate

Revenue by segment

Oaktree · $60.3M total across 3 segments · Q1 2022

  • Interest income
    $55.5M
  • Dividend income
    $3.92M
  • Fee income
    $912K

Forward guidance

BDC outlook focuses on net investment income, portfolio yield, credit quality, and dividend coverage.

Tailwinds

  • Net investment income supports distributions.
  • Senior secured lending focus.

Headwinds

  • Credit losses in stressed borrowers.
  • Spread compression and NAV volatility.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 18 quarterly earnings reports · overlaid with Q4 2025

Historical avgQ4 2025

-1.4%

Avg return

Earnings day

-2.0%

Avg return

5 days after

-2.6%

Avg return

30 days after

33%

6 / 18 earnings

Positive

+7.3%

Q4 2022

Best reaction

-8.4%

Q3 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q2 2026+0.4%-5.8%-5.3%
Q1 2026+3.0%+2.0%-5.6%
Q4 2025+0.0%+1.1%-3.8%
Q2 2025-7.8%-6.7%+1.6%
Q1 2025-2.8%-2.9%+0.2%
Q4 2024-2.9%-1.9%-6.0%
Q3 2024-8.4%-10.6%-5.0%
Q2 2024-1.9%-2.9%-1.9%
Q1 2024-6.9%-7.2%-7.1%
Q4 2023+0.5%+0.4%+1.4%
Q3 2023-1.7%-0.8%-1.4%
Q2 2023-2.4%-0.7%+1.3%
Q1 2023-1.6%-1.7%-4.4%
Q4 2022+7.3%+7.9%+2.4%
Q3 2022-0.8%-1.1%-4.3%
Q2 2022-1.5%-4.5%-5.4%
Q1 2022+1.1%+0.0%-2.4%
Q4 2021+1.3%-0.8%-1.3%

Discussion

Share your read of this quarter. Sign-in carries your eToro identity.

Join the conversation

Sign in with eToro to post your read of this quarter and vote on others'.

Sign in with eToro