Oxford Lane Capital Corp. (OXLC) Balance Sheet
OXLC balance sheet, FY2026
March 31, 2026 · U.S. dollars$1.83B assets = $799.5M liabilities + $1.03B equity
Both columns are drawn to the same scale: what OXLC owns equals what it owes plus shareholders’ equity. Hover a block for its value.
OXLC financial health
Debt / equity0.75
Moderate leverage · $0.75 of debt for each $1 of equity
Equity / assets56.3%
Equity-funded · of assets funded by shareholders
Cash / debt12.5%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles0.0%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal FY2026.
OXLC balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $377.1MFY2017 | $1.83BFY2026 | +19.2%/yr | |
| Total liabilities | $145.1MFY2017 | $799.5MFY2026 | +20.9%/yr | |
| Shareholders’ equity | $232.0MFY2017 | $1.03BFY2026 | +18.0%/yr | |
| Cash & short-term investments | $14.0MFY2017 | $96.7MFY2026 | +23.9%/yr | |
| Total debt | $266.7MFY2017 | $772.7MFY2026 | +12.5%/yr | |
| Net cash (debt) | −$252.7MFY2017 | −$676.0MFY2026 | −$423.3M | |
| Working capital | $18.1MFY2017 | $257.2MFY2025 | +$239.1M | |
| Book value per share | $11.37FY2018 | $10.56FY2026 | −0.9%/yr | |
| Debt / equity | 1.15FY2017 | 0.75FY2026 | −0.40 | |
| Shares outstanding | 25.5MFY2018 | 97.6MFY2026 | +18.3%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
OXLC assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
OXLC liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
OXLC debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
OXLC balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $96.7M | $295.3M | $43.0M | $21.7M | $34.7M | $90.9M | $11.7M | $21.5M | $20.3M | $14.0M |
| Cash & equivalents | $96.7M | $295.3M | $43.0M | $21.7M | $34.7M | $90.9M | $11.7M | $21.5M | $20.3M | $14.0M |
| Receivables | $21.6M | $24.6M | $28.5M | $24.2M | $26.0M | $17.3M | $11.1M | $8.6M | $5.3M | $5.9M |
| Inventory | $0 | $0 | $77.9M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $362,884 | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $118.3M | $295.3M | $71.4M | $21.7M | $61.0M | $108.1M | $22.8M | $30.1M | $25.7M | $19.9M |
| Property, plant & equipment (net) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $1.71B | $2.52B | $1.68B | $1.29B | $1.35B | $826.0M | $508.4M | $542.2M | $488.2M | $356.8M |
| Other non-current assets | $527,393 | $25.3M | $407,137 | $24.5M | $177,875 | $732,534 | $745,851 | $1.0M | $344,986 | $444,983 |
| Total assets | $1.83B | $2.84B | $1.75B | $1.34B | $1.41B | $934.9M | $531.9M | $573.4M | $514.2M | $377.1M |
| Liabilities | ||||||||||
| Accounts payable | $291,194 | $1.4M | $2.4M | $32,639 | $32,639 | $300,000 | $13,631 | $624,752 | $529,958 | $1.8M |
| Short-term debt | — | — | $72.3M | $46.8M | $33.5M | $22.9M | $40.1M | $59.9M | $66.5M | $133.4M |
| Deferred revenue | — | — | −$69.9M | −$46.8M | −$33.5M | −$22.6M | −$40.1M | −$59.3M | −$65.9M | — |
| Total current liabilities | — | $38.2M | $2.4M | $19.8M | $32,639 | $300,000 | $13,631 | $624,752 | $529,958 | $1.8M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $214.2M | $152.9M | $151.7M | $133.4M |
| Other long-term liabilities | $799.5M | $845.1M | $577.4M | $523.1M | $461.0M | $96.6M | $0 | $0 | $0 | $11.7M |
| Total liabilities | $799.5M | $883.3M | $579.9M | $542.9M | $461.0M | $338.6M | $263.2M | $219.5M | $224.3M | $145.1M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $976,496 | $4.5M | $2.4M | $1.7M | $1.4M | $1.0M | $723.5M | $473.5M | $372.9M | $328.4M |
| Retained earnings (deficit) | −$1.68B | −$674.3M | −$368.0M | −$417.0M | −$111.0M | −$187.6M | −$454.7M | −$119.7M | −$10.2M | −$25.7M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | −$57.7M | −$70.6M |
| Total shareholders' equity | $1.03B | $1.96B | $1.17B | $793.2M | $947.2M | $596.3M | $268.8M | $353.8M | $289.9M | $232.0M |
| Key figures | ||||||||||
| Total debt | $772.7M | $486.9M | $195.6M | $194.6M | $227.1M | $328.1M | $254.3M | $212.8M | $218.1M | $266.7M |
| Net cash (debt) | −$676.0M | −$191.6M | −$152.6M | −$172.8M | −$192.4M | −$237.2M | −$242.6M | −$191.4M | −$197.8M | −$252.7M |
| Working capital | — | $257.2M | $69.0M | $1.9M | $61.0M | $107.8M | $22.8M | $29.5M | $25.1M | $18.1M |
| Tangible book value | $1.03B | $1.96B | $1.17B | $793.2M | $947.2M | $596.3M | $268.8M | $353.8M | $289.9M | $232.0M |
| Book value per share | $10.56 | $21.59 | $27.89 | $26.39 | $45.15 | — | $3.82 | $8.60 | $11.37 | — |
| Shares outstanding | 97.6M | 90.6M | 42.0M | 30.1M | 21.0M | — | 70.3M | 41.1M | 25.5M | — |
| Current ratio | — | 7.74 | 29.51 | 1.10 | 1,869.59 | 360.41 | 1,673.50 | 48.18 | 48.43 | 10.91 |
| Quick ratio | — | 8.39 | 29.51 | 2.32 | 1,858.47 | 360.41 | 1,673.50 | 48.18 | 48.43 | 10.91 |
| Debt / equity | 0.75 | 0.25 | 0.17 | 0.25 | 0.24 | 0.55 | 0.95 | 0.60 | 0.75 | 1.15 |
| Equity / assets | 56.3% | 68.9% | 66.9% | 59.4% | 67.3% | 63.8% | 50.5% | 61.7% | 56.4% | 61.5% |
| Mar '26 | Sep '25 | Mar '25 | Sep '24 | Mar '24 | Sep '23 | Mar '23 | Sep '22 | Mar '22 | Dec '21 | Sep '21 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||
| Cash & short-term investments | $96.7M | $19.1M | $295.3M | $206.5M | $43.0M | $27.1M | $21.7M | $46.0M | $34.7M | $34.7M | $68.4M |
| Cash & equivalents | $96.7M | $19.1M | $295.3M | $206.5M | $43.0M | $27.1M | $21.7M | $46.0M | $34.7M | $34.7M | $68.4M |
| Receivables | $21.6M | $30.1M | $24.6M | $26.9M | $28.5M | $30.1M | $24.2M | $18.7M | $26.0M | $26.0M | $22.2M |
| Inventory | $0 | $0 | $0 | $0 | $77.9M | $0 | $0 | $0 | $0 | $0 | $90.6M |
| Other current assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $362,884 | $0 | $0 |
| Total current assets | $96.7M | $49.2M | $295.3M | $206.5M | $71.4M | $57.2M | $45.9M | $64.7M | $61.0M | $60.7M | $87.2M |
| Property, plant & equipment (net) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $1.71B | $2.60B | $2.52B | $2.00B | $1.68B | $1.44B | $1.29B | $1.24B | $1.35B | $0 | $1.16B |
| Other non-current assets | $22.1M | $365,147 | $25.3M | $27.0M | $407,137 | $273,424 | $373,187 | $176,408 | $177,875 | $1.35B | $414,593 |
| Total assets | $1.83B | $2.65B | $2.84B | $2.23B | $1.75B | $1.50B | $1.34B | $1.30B | $1.41B | $1.41B | $1.25B |
| Liabilities | |||||||||||
| Accounts payable | $291,194 | $101,444 | $1.4M | $60,590 | $2.4M | $2.3M | $46.8M | $32,641 | $32,639 | $32,639 | $18,750 |
| Short-term debt | — | $6.5M | $140.9M | $70.2M | $72.3M | $2.3M | $46.8M | $29.4M | $33.5M | — | $99.7M |
| Deferred revenue | — | — | — | — | −$69.9M | $32,639 | −$46.8M | −$29.4M | −$33.5M | — | −$99.7M |
| Total current liabilities | $26.1M | $6.5M | $38.2M | $29.9M | $2.4M | $2.3M | $67.3M | $32,641 | $32,639 | $32,639 | $18,750 |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $773.4M | $778.9M | $845.1M | $593.6M | $577.4M | $195.1M | $475.6M | $194.1M | $461.0M | $32,639 | $96.7M |
| Total liabilities | $799.5M | $785.4M | $883.3M | $623.5M | $579.9M | $501.9M | $542.9M | $520.2M | $461.0M | $461.0M | $427.2M |
| Shareholders' equity | |||||||||||
| Common stock & paid-in capital | $976,496 | $971,090 | $4.5M | $3.4M | $2.4M | $2.1M | $1.7M | $1.6M | $1.4M | $1.4M | $1.2M |
| Retained earnings (deficit) | −$1.68B | −$911.7M | −$674.3M | −$448.7M | −$368.0M | −$388.3M | −$417.0M | −$364.6M | −$111.0M | −$111.0M | −$85.9M |
| Total shareholders' equity | $1.03B | $1.86B | $1.96B | $1.61B | $1.17B | $998.4M | $793.2M | $783.2M | $947.2M | $947.2M | $819.6M |
| Key figures | |||||||||||
| Total debt | $489.4M | $710.6M | $486.9M | $307.3M | $267.9M | $479.1M | $475.6M | $503.8M | $445.5M | $193.6M | $414.2M |
| Net cash (debt) | −$392.7M | −$691.5M | −$191.6M | −$100.8M | −$224.9M | −$452.0M | −$453.9M | −$457.8M | −$410.8M | −$158.9M | −$345.8M |
| Working capital | $70.6M | $42.8M | $257.2M | $176.6M | $69.0M | $54.9M | −$21.3M | $64.7M | $61.0M | $60.6M | $87.2M |
| Tangible book value | $1.03B | $1.86B | $1.96B | $1.61B | $1.17B | $998.4M | $793.2M | $783.2M | $947.2M | $947.2M | $819.6M |
| Book value per share | $10.60 | $21.42 | $21.59 | $31.82 | $26.87 | $24.69 | $25.22 | $25.98 | $32.78 | — | $36.88 |
| Shares outstanding | 97.2M | 87.0M | 90.6M | 50.5M | 43.6M | 40.4M | 31.4M | 30.2M | 28.9M | — | 22.2M |
| Current ratio | 3.71 | 7.63 | 7.74 | 6.90 | 29.51 | 24.57 | 0.68 | 1,983.21 | 1,869.59 | 1,858.47 | 4,649.06 |
| Quick ratio | 4.53 | 7.63 | 8.39 | 7.80 | 29.51 | 24.57 | 0.68 | 1,983.21 | 1,858.47 | 1,858.47 | 4,834.66 |
| Debt / equity | 0.47 | 0.38 | 0.25 | 0.19 | 0.23 | 0.48 | 0.60 | 0.64 | 0.47 | 0.20 | 0.51 |
| Equity / assets | 56.3% | 70.4% | 68.9% | 72.0% | 66.9% | 66.5% | 59.4% | 60.1% | 67.3% | 67.3% | 65.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 31, 2026); data from EODHD.
OXLC financial position
At the end of fiscal 2026 (March 31, 2026), Oxford Lane Capital had total assets of $1.8 billion (down 35.5% from a year earlier), total liabilities of $799.5 million and shareholders' equity of $1.0 billion. It held $96.7 million in cash and short-term investments against $772.7 million of debt, net debt of $676.0 million.
Related: OXLC income statement, OXLC cash flow statement, OXLC key metrics. See the OXLC stock overview for the latest quote and news.
OXLC balance sheet FAQ
What are Oxford Lane Capital's total assets?
Oxford Lane Capital reported total assets of $1.8 billion at the end of fiscal 2026 (March 31, 2026), compared with $2.8 billion a year earlier.
How much debt does Oxford Lane Capital have?
Oxford Lane Capital had $772.7 million of total debt at the end of fiscal 2026, including short-term borrowings. Its debt-to-equity ratio was 0.75.
How much cash does Oxford Lane Capital have?
Oxford Lane Capital held $96.7 million in cash and short-term investments at the end of fiscal 2026; with $772.7 million of debt that is net debt of $676.0 million.
What is Oxford Lane Capital's book value?
Oxford Lane Capital's shareholders' equity (book value) was $1.0 billion at the end of fiscal 2026, or $10.56 per share.