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Oxford Lane Capital
(NASDAQ:OXLC)
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Rating:55Neutral
Price Target:
$8.50
▼(-11.27% Downside)
Action:Reiterated
Date:08/27/26
The score is held back primarily by weak and volatile financial performance, including a large 2026 loss and inconsistent multi-year cash flow, plus higher balance-sheet risk from falling equity and rising debt. Technicals are a relative positive with the price above key moving averages and positive MACD. Valuation is mixed: an extremely high dividend yield supports the score, but the negative P/E (loss-making) signals elevated risk.
Positive Factors
Diversified CLO income platform
The CLO-focused model gives shareholders access to cash flows from diversified pools of predominantly senior secured leveraged loans. This established portfolio structure can support recurring income generation and reduces reliance on any single corporate borrower, although results still depend on collateral performance.
Negative Factors
Highly volatile and deteriorating earnings
The sharp revenue decline and large 2026 loss indicate that earnings are not consistently converting the portfolio’s income potential into stable profitability. Such volatility can weaken the company’s ability to sustain distributions, preserve capital, and plan portfolio investments over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified CLO income platform
The CLO-focused model gives shareholders access to cash flows from diversified pools of predominantly senior secured leveraged loans. This established portfolio structure can support recurring income generation and reduces reliance on any single corporate borrower, although results still depend on collateral performance.
Read all positive factors
Oxford Lane Capital (OXLC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$843.06M
Dividend Yield41.86%
Average Volume (3M)957.21K
Price to Earnings (P/E)―
Beta (1Y)0.66
Revenue Growth-8.41%
EPS Growth-639.32%
CountryUS
EmployeesN/A
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)-5.99
Shares Outstanding98,030,240
10 Day Avg. Volume1,181,655
30 Day Avg. Volume957,210
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.93
Price to Sales (P/S)2.44
P/FCF Ratio1.37
Enterprise Value/Market Cap1.93
Enterprise Value/Revenue4.15
Enterprise Value/Gross Profit6.08
Enterprise Value/Ebitda-3.07
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)4.15
Revenue Forecast (FY)$443.00M
Oxford Lane Capital Business Overview & Revenue Model
Company Description
Managed by Oxford Lane Management LLC, Oxford Lane Capital Corp. is a closed-end fund primarily focused on fixed income securities. Its investment approach involves allocating capital to securitization vehicles, which subsequently invest in senior...
How the Company Makes Money
Oxford Lane Capital primarily makes money by investing in CLO securities—most notably CLO equity and, to a lesser extent, CLO debt—and collecting the resulting distributions and interest from those holdings. In a typical CLO, the underlying assets...
Oxford Lane Capital Earnings Call Summary
Earnings Call Date:May 19, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Negative
The call contained significant negative developments driven by large mark-to-market losses and a sharp quarter-end NAV decline (~31.9%), material unrealized depreciation (~$381M) and declines in GAAP investment income and net investment income. Offsetting these negatives, management highlighted core cash earnings (~$100.7M), double-digit CLO yields, active trading (~$75M), successful liability management (lengthened reinvestment period to Oct 2029), improved market activity in April/May and a Board decision to continue cash distributions ($0.20 monthly for Jul–Sep). However, the magnitude of the valuation losses and NAV decline materially outweigh the operational and tactical positives discussed.Positive Updates
April NAV Stabilization
Estimated midpoint NAV improved to $11.27 as of April 30, 2026, up ~6.7% from the March 31 NAV of $10.56, indicating partial stabilization after the quarter-end decline.
Negative Updates
Sharp Quarter-End NAV Decline
Net asset value per share dropped to $10.56 as of March 31, 2026 from $15.51 the prior quarter, a decline of approximately 31.9%, driven by mark-to-market losses.
Read all updates
Q4-2026 Updates
Positive
Negative
April NAV Stabilization
Estimated midpoint NAV improved to $11.27 as of April 30, 2026, up ~6.7% from the March 31 NAV of $10.56, indicating partial stabilization after the quarter-end decline.
Read all positive updates
Company Guidance
The company guided that it will continue an opportunistic, unconstrained CLO strategy as a permanent capital vehicle with a longer-term view, will evaluate investments to improve CLO equity economics, remain conservative on leverage (not seeking to increase debt except to refinance), and the Board declared monthly common stock distributions of $0.20 per share for July, August and September 2026; key metrics cited include NAV per share $10.56 as of 3/31/26 (April 30 estimated midpoint $11.27), Q1 GAAP total investment income ≈ $94M (down ≈ $23.8M) comprised of ≈ $90.8M from CLO equity/warehouses and ≈ $3.1M from CLO debt/other, GAAP net investment income ≈ $54.5M or $0.56/share (prior quarter $71.8M or $0.74), core net investment income ≈ $100.7M or $1.03/share (prior $108.9M or $1.12), $64M of newly issued/acquired CLO equity yet to make initial distributions, net unrealized depreciation ≈ $381.4M and net realized losses ≈ $38.4M (net decrease in net assets from operations ≈ $365.3M or $3.74/share), weighted average effective yield on CLO equity at current cost 11.7% (down from 13.8%) and weighted average cash distribution yield 16.7% (down from 19%), ~$0.5M of new CLO investments and ~$82.9M received from sales/repayments, traded over $75M in CLO equity/warehouses, and lengthened the weighted average reinvestment period from August 2029 to October 2029.Oxford Lane Capital Financial Statement Overview
Summary
Income Statement
38
Negative
Balance Sheet
52
Neutral
Cash Flow
45
Neutral
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 391.76M | 95.77M | 306.79M | 262.27M | 199.30M |
| Gross Profit | 267.37M | 57.31M | 306.79M | 262.27M | 199.30M |
| EBITDA | -530.62M | 51.39M | 0.00 | 193.30M | 141.87M |
| Net Income | -585.09M | 48.46M | 235.11M | -171.29M | 125.88M |
Balance Sheet | |||||
| Total Assets | 1.83B | 2.84B | 1.75B | 1.34B | 1.41B |
| Cash, Cash Equivalents and Short-Term Investments | 96.70M | 295.35M | 42.97M | 21.74M | 34.67M |
| Total Debt | 772.66M | 486.92M | 195.60M | 194.56M | 227.12M |
| Total Liabilities | 799.45M | 883.25M | 579.85M | 542.89M | 460.99M |
| Stockholders Equity | 1.03B | 1.96B | 1.17B | 793.15M | 947.16M |
Cash Flow | |||||
| Free Cash Flow | 696.20M | -703.80M | -123.79M | -91.56M | 547.45M |
| Operating Cash Flow | 696.20M | -703.80M | -123.79M | -91.56M | 547.45M |
| Investing Cash Flow | -620.77M | -1.56B | -546.96M | 0.00 | -932.95M |
| Financing Cash Flow | -274.07M | 956.17M | 145.03M | 78.63M | 329.30M |
Oxford Lane Capital Technical Analysis
Negative
9.58
Price Trends
9.08
Negative
8.78
Negative
8.97
Negative
Market Momentum
-0.15
Positive
35.69
Neutral
28.83
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OXLC, the sentiment is Negative. The current price of 9.58 is above the 20-day moving average (MA) of 8.89, above the 50-day MA of 9.08, and above the 200-day MA of 8.97, indicating a bearish trend. The MACD of -0.15 indicates Positive momentum. The RSI at 35.69 is Neutral, neither overbought nor oversold. The STOCH value of 28.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for OXLC.
Oxford Lane Capital Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
62 Neutral | $636.61M | -14.04 | -4.28% | 16.91% | -50.21% | -161.42% | |
60 Neutral | $208.29M | 20.20 | <0.01% | 30.09% | 138.32% | -27.91% | |
60 Neutral | $205.06M | 7.01 | 8.05% | 18.47% | 0.37% | -28.29% | |
60 Neutral | $333.93M | -3.13 | -17.68% | 19.10% | -141.00% | -809.18% | |
55 Neutral | $843.06M | -1.44 | -40.42% | 41.86% | -8.41% | -639.32% | |
49 Neutral | $143.25M | -2.98 | -25.97% | 31.58% | ― | -1756.77% |
* Financial Sector Average
OXLC
Oxford Lane Capital
8.60
-3.47
-28.78%
NMFC
New Mountain Finance
6.74
-1.30
-16.22%
PNNT
Pennantpark Investment
3.19
-2.13
-40.03%
OXSQ
Oxford Square Capital
1.33
-0.11
-7.96%
SCM
Stellus Capital
7.20
-3.48
-32.60%
TCPC
BlackRock TCP Capital
3.98
-0.76
-16.00%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.