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Oxford Square Capital
(NASDAQ:OXSQ)
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Rating:47Neutral
Price Target:
$1.00
▼(-26.47% Downside)
Action:Reiterated
Date:10/30/26
Overall score is held down primarily by weak financial performance (loss-making results and sharply negative TTM cash flow) and bearish technicals (downtrend with negative MACD). These are only partially offset by the very high dividend yield and a mixed earnings-call outlook that included ongoing deleveraging but also lower NII/NAV and elevated credit stress indicators.
Positive Factors
Growing Investment Income
Higher total investment income indicates that the portfolio continues to generate meaningful recurring revenue from its credit and other investments. Sustained income production supports operating needs and distributions, while providing a base from which management can rotate capital toward more attractive opportunities.
Negative Factors
Severe Cash Flow Deterioration
The sharp reversal to extremely negative trailing cash flow signals materially weaker cash generation and raises the risk that portfolio activity or other cash movements are consuming resources. If persistent, this can constrain distributions, debt repayment, and the company’s ability to fund new investments internally.
Read all positive and negative factors
Positive Factors
Negative Factors
Growing Investment Income
Higher total investment income indicates that the portfolio continues to generate meaningful recurring revenue from its credit and other investments. Sustained income production supports operating needs and distributions, while providing a base from which management can rotate capital toward more attractive opportunities.
Read all positive factors
Oxford Square Capital (OXSQ) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$99.02M
Dividend Yield45.7%
Average Volume (3M)1.34M
Price to Earnings (P/E)―
Beta (1Y)0.51
Revenue GrowthN/A
EPS Growth-1756.77%
CountryUS
EmployeesN/A
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)-0.45
Shares Outstanding107,707,770
10 Day Avg. Volume1,720,566
30 Day Avg. Volume1,343,877
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)0.93
Price to Sales (P/S)-26.88
P/FCF Ratio7.34
Enterprise Value/Market Cap2.60
Enterprise Value/Revenue-10.35
Enterprise Value/Gross Profit-7.57
Enterprise Value/Ebitda-7.62
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.19
Revenue Forecast (FY)$37.60M
Oxford Square Capital Business Overview & Revenue Model
Company Description
Oxford Square Capital Corp. functions as a business development company (BDC) and a non-diversified, closed-end investment management entity, specializing in private equity and mezzanine financing. The firm's investment scope includes both publicl...
How the Company Makes Money
OXSQ makes money primarily from investment income generated by its portfolio. The core revenue stream is interest income earned on debt investments (e.g., loans and other credit instruments) it holds in portfolio companies; this is typically the l...
Oxford Square Capital Earnings Call Summary
Earnings Call Date:Oct 30, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Mar 23, 2027
Earnings Call Sentiment Neutral
The call presented a mixed picture. Management highlighted improved leveraged-loan prices, higher total investment income, unrealized appreciation, active capital deployment, and deliberate portfolio repositioning and deleveraging. These positives were offset by lower net investment income and NAV per share, higher combined investment losses, a lower distribution level, elevated liability-management-related defaults, rising loan distress, weaker CCC-rated prices, and a 20% decline in primary-market loan issuance.Positive Updates
Total Investment Income Increased
Third-quarter total investment income was approximately $9.9 million, up from approximately $9.4 million in the prior quarter.
Negative Updates
Net Investment Income Declined
Third-quarter net investment income was approximately $4.9 million, or $0.04 per share, compared with approximately $5.1 million, or $0.05 per share, in the prior quarter.
Read all updates
Q3-2026 Updates
Positive
Negative
Total Investment Income Increased
Third-quarter total investment income was approximately $9.9 million, up from approximately $9.4 million in the prior quarter.
Read all positive updates
Company Guidance
The Board of Directors declared monthly distributions of $0.015 per share for each of the months ending January, February and March of 2027. Management said investors can reasonably expect to see continued portfolio rotation, with the idea of taking advantage of opportunistic investment possibilities as they arise and reflecting, hopefully, the continued desire to moderately delever the portfolio while maintaining the appropriate levels of risk management. Management also said it expects to continue to pay down debt depending on the balance between investment opportunity and the necessity to maintain leverage ratios at the appropriate levels; total debt-to-equity was 1.07 at the end of the third quarter and was lower still following an intra-quarter repayment.Oxford Square Capital Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
52
Neutral
Cash Flow
14
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | -24.83M | -5.00M | 17.81M | 33.57M | -69.03M | 37.18M |
| Gross Profit | -33.94M | -14.25M | 9.96M | 22.75M | -81.38M | 37.18M |
| EBITDA | -33.73M | -18.73M | 5.88M | 17.24M | -85.55M | 26.60M |
| Net Income | -36.53M | -18.73M | 5.88M | 17.24M | -85.55M | 39.58M |
Balance Sheet | ||||||
| Total Assets | 290.61M | 306.74M | 299.73M | 277.67M | 327.99M | 433.51M |
| Cash, Cash Equivalents and Short-Term Investments | 34.61M | 51.93M | 34.93M | 5.74M | 9.02M | 9.02M |
| Total Debt | 152.11M | 157.58M | 123.60M | 122.98M | 186.32M | 185.38M |
| Total Liabilities | 155.58M | 161.33M | 139.07M | 126.36M | 189.32M | 188.91M |
| Stockholders Equity | 135.03M | 145.40M | 160.67M | 151.31M | 138.67M | 244.60M |
Cash Flow | ||||||
| Free Cash Flow | -44.51M | 18.34M | 25.71M | 26.72M | 19.62M | 16.69M |
| Operating Cash Flow | -44.51M | 18.34M | 25.71M | 26.72M | 19.62M | 16.69M |
| Investing Cash Flow | -2.04M | -32.07M | 0.00 | 38.97M | 752.49K | -124.12M |
| Financing Cash Flow | 51.36M | 30.75M | 3.48M | -68.97M | -20.37M | 57.31M |
Oxford Square Capital Technical Analysis
Negative
1.36
Price Trends
1.26
Negative
1.28
Negative
1.38
Negative
Market Momentum
-0.05
Positive
21.83
Positive
15.17
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OXSQ, the sentiment is Negative. The current price of 1.36 is above the 20-day moving average (MA) of 1.24, above the 50-day MA of 1.26, and below the 200-day MA of 1.38, indicating a bearish trend. The MACD of -0.05 indicates Positive momentum. The RSI at 21.83 is Positive, neither overbought nor oversold. The STOCH value of 15.17 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for OXSQ.
Oxford Square Capital Risk Analysis
Oxford Square Capital disclosed 74 risk factors in its most recent earnings report. Oxford Square Capital reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Oxford Square Capital Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $171.17M | 10.15 | 6.83% | 14.81% | -0.46% | 416.27% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | $73.56M | -17.47 | -1.95% | 11.11% | 218.26% | 64.44% | |
58 Neutral | $48.10M | -1.70 | -15.20% | 18.94% | -82.20% | -978.39% | |
54 Neutral | $68.75M | -1.54 | -32.53% | 23.64% | -11.06% | -288.02% | |
47 Neutral | $99.02M | -2.06 | -25.97% | 45.70% | ― | -1756.77% |
* Financial Sector Average
OXSQ
Oxford Square Capital
0.92
-0.55
-37.36%
BCIC
BCP Investment Corporation
5.94
-4.03
-40.44%
WHF
WhiteHorse
7.97
1.86
30.46%
OFS
OFS Capital
3.59
-1.41
-28.14%
GECC
Great Elm Capital
4.95
-1.56
-23.93%
Oxford Square Capital Corporate Events
Business Operations and StrategyDividendsFinancial DisclosuresRegulatory Filings and ComplianceShareholder Meetings
Oxford Square Capital Reports Q3 Results, Maintains Distributions
Neutral
Oct 30, 2026
On October 28, 2026, Oxford Square Capital adopted amended bylaws that tighten requirements for shareholders seeking to propose business at annual meetings, requiring at least $1 million in voting shares or 3% ownership held for six months and mai...
Business Operations and Strategy
Oxford Square Capital Announces Partial Redemption of 2028 Notes
Positive
Sep 14, 2026
On September 14, 2026, Oxford Square Capital Corp. notified the trustee for its 5.50% Notes due 2028 of its election to redeem $15 million in aggregate principal amount of these notes, out of $80.5 million outstanding. The company expects to compl...
Executive/Board ChangesShareholder Meetings
Oxford Square Shareholders Back Directors and Auditor Choices
Positive
Aug 20, 2026
At its Annual Meeting of Stockholders held on August 20, 2026, Oxford Square Capital Corp. reported that a quorum was present, with more than 105 million common shares entitled to vote as of the June 30, 2026 record date. Stockholders elected dire...
DividendsFinancial DisclosuresPrivate Placements and Financing
Oxford Square Capital Posts Stronger Q2 2026 Earnings
Positive
Jul 31, 2026
On July 31, 2026, Oxford Square Capital reported second-quarter 2026 results showing net asset value per share of $1.29, down from $1.32 at March 31, while total net assets fell to $135.0 million from $145.4 million at year-end 2025. Net investmen...
DividendsFinancial DisclosuresPrivate Placements and Financing
Oxford Square Capital Reports Second-Quarter 2026 Results
Neutral
Jul 31, 2026
On July 31, 2026, Oxford Square Capital reported financial results for the quarter ended June 30, 2026, showing net asset value per share of $1.29, down from $1.32 on March 31, 2026, and net investment income of approximately $5.1 million, or $0.0...
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.