Oaktree Specialty Lending Corporation (OCSL) Income Statement
OCSL FY2025 at a glance
Fiscal year ended September 30, 2025 · U.S. dollarsOCSL revenue and net income
Where OCSL's revenue goes
FY2025Each bar shows an amount and its share of revenue. OCSL kept 11.3% of revenue as net income.
OCSL profit margins
OCSL growth rates
to FY2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +60.9% | +97.1% | +41.8% | +26.3% |
| Gross profit | +353.7% | +88.4% | +38.0% | +24.6% |
| Operating income | +161.3% | +23.7% | +32.2% | +7.7% |
| Net income | −41.4% | +5.1% | −2.9% | +8.2% |
| EPS (diluted) | −20.7% | −5.7% | +1.3% | −3.2% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
OCSL quarterly EPS vs estimates
Oaktree Specialty Lending beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 17, 2026 (estimate $0.34).
OCSL income statement
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $299.7M | $186.2M | $125.2M | $39.1M | $248.3M | $52.3M | $127.1M | $57.3M | $178.0M | $247.9M |
| Cost of revenue | $38.3M | $128.6M | −$223.6M | $55.7M | $71.4M | $39.3M | $50.3M | $120,000 | $361.6M | $291.5M |
| Gross profit | $261.4M | $57.6M | $125.2M | $39.1M | $248.3M | $52.3M | $127.1M | $57.2M | −$183.7M | −$43.6M |
| Research & development | — | — | $0 | $0 | $1 | $0 | $1 | $2 | $32 | $1 |
| Sales, general & admin | $8.5M | $9.5M | $11.7M | $9.3M | $9.1M | $7.1M | $7.9M | $11.2M | $14.8M | $23.2M |
| Total operating expenses | $110.4M | −$185,000 | $6.1M | $6.3M | $7.5M | $14.9M | −$43,000 | $9.9M | $13.3M | $22.9M |
| Operating income | $151.0M | $57.8M | $180.8M | $79.8M | $240.8M | $37.5M | $127.2M | $83.1M | −$147.0M | −$11.9M |
| Interest income | $307.5M | $367.1M | $368.5M | $249.4M | $190.8M | $133.4M | $139.2M | $124.3M | $163.4M | $211.2M |
| Interest expense | $115.8M | $128.6M | $111.6M | $46.9M | $30.5M | $26.3M | $32.4M | $35.7M | $49.9M | $54.6M |
| Income before taxes | $35.2M | $57.8M | $119.1M | $32.9M | $240.8M | $37.5M | $127.2M | $47.4M | −$197.0M | −$66.6M |
| Income taxes | $1.3M | −$108,000 | $1.7M | $3.6M | $3.6M | −$1.8M | $1.0M | $622,000 | −$148.3M | −$11.9M |
| Net income | $33.9M | $57.9M | $117.3M | $29.2M | $237.3M | $39.2M | $126.2M | $46.8M | −$197.0M | −$66.6M |
| EBITDA | $151.0M | $57.8M | $180.8M | $216.0M | $126.3M | $37.5M | $127.2M | $83.1M | −$147.0M | −$11.9M |
| EPS (diluted) | $1.76 | $2.22 | $2.47 | $2.10 | $1.68 | $1.65 | $1.47 | $1.26 | $1.53 | $2.22 |
| Gross margin | 87.2% | 30.9% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 99.8% | −103.2% | −17.6% |
| Operating margin | 50.4% | 31.0% | 144.4% | 204.0% | 97.0% | 71.6% | 100.0% | 145.0% | −82.6% | −4.8% |
| Net margin | 11.3% | 31.1% | 93.7% | 74.7% | 95.6% | 75.0% | 99.2% | 81.6% | −110.7% | −26.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $61.6M | $56.8M | $76.4M | $84.3M | $67.4M | $0 | $33.7M | $68.5M | $31.6M | $42.1M | $44.0M | $81.4M |
| Cost of revenue | $24.1M | $7.8M | $9.3M | $13.1M | $31.1M | $28.2M | $30.6M | $32.1M | $32.5M | $31.9M | $32.2M | $32.3M |
| Gross profit | $37.5M | $49.0M | $67.1M | $71.1M | $36.4M | −$40.2M | $3.1M | $36.5M | −$922,000 | $10.2M | $11.8M | $49.0M |
| Sales, general & admin | $641,000 | $3.3M | $2.3M | $1.9M | $3.1M | $2.7M | $2.6M | $2.2M | $2.5M | $2.2M | $2.6M | $2.5M |
| Total operating expenses | $4.7M | $42.0M | $34.8M | $20.3M | −$2.3M | −$4.2M | −$4.5M | $213,000 | −$2.2M | $725,000 | $1.1M | $1.0M |
| Operating income | $32.8M | $7.0M | $32.3M | $50.9M | $38.7M | −$36.0M | $7.6M | $36.3M | $1.3M | $9.5M | $10.7M | $48.0M |
| Interest income | $66.8M | $68.7M | $70.8M | $73.8M | $74.5M | $75.1M | $84.2M | $89.6M | $92.1M | $90.1M | $95.3M | $100.3M |
| Interest expense | $24.1M | $25.6M | $26.7M | $26.0M | $31.1M | $28.2M | $30.6M | $32.1M | $32.5M | $31.9M | $32.2M | $32.3M |
| Income before taxes | $32.8M | −$18.6M | $5.6M | $24.8M | $38.7M | −$36.0M | $7.6M | $36.3M | $1.3M | $9.5M | $10.7M | $48.0M |
| Income taxes | $1.9M | $307,000 | $36,000 | $264,000 | $325,000 | $264,000 | $402,000 | −$661,000 | $202,000 | $175,000 | $176,000 | $2.1M |
| Net income | $30.9M | −$18.9M | $5.6M | $24.6M | $38.4M | −$36.2M | $7.2M | $36.9M | $1.1M | $9.3M | $10.5M | $46.0M |
| EBITDA | $96.3M | $7.0M | $32.3M | $50.9M | $38.7M | −$36.0M | $7.6M | $36.3M | $1.3M | $9.5M | $10.7M | $48.0M |
| EPS (diluted) | $0.37 | $0.38 | $0.41 | $0.40 | $0.37 | $0.45 | $0.54 | $0.55 | $0.54 | $0.56 | $0.57 | $0.62 |
| Gross margin | 60.8% | 86.3% | 87.8% | 84.4% | 53.9% | — | 9.2% | 53.2% | −2.9% | 24.3% | 26.9% | 60.3% |
| Operating margin | 53.3% | 12.4% | 42.3% | 60.4% | 57.3% | — | 22.7% | 52.9% | 4.2% | 22.6% | 24.3% | 59.0% |
| Net margin | 50.2% | −33.3% | 7.3% | 29.2% | 56.9% | — | 21.5% | 53.9% | 3.5% | 22.2% | 23.9% | 56.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in OCSL's financial statements (latest annual report filed November 18, 2025); data from EODHD. Sales, general & administrative expenses include sales and marketing.
OCSL financial results
In fiscal year 2025 (ended September 30, 2025), Oaktree Specialty Lending reported revenue of $299.7 million, up 60.9% from the year before. It had net income of $33.9 million (down 41.4%), a net profit margin of 11.3%. Diluted earnings per share came to $1.76. Over five years revenue grew at an average rate of 41.8% a year.
See the OCSL stock overview for the latest quote and news, or the OCSL chart for price history and technical indicators.
OCSL income statement FAQ
What is Oaktree Specialty Lending's annual revenue?
Oaktree Specialty Lending reported total revenue of $299.7 million for fiscal year 2025, which ended on September 30, 2025. That was up 60.9% from $186.2 million the previous year.
Is Oaktree Specialty Lending profitable?
Yes. Oaktree Specialty Lending reported net income of $33.9 million in fiscal 2025, a net profit margin of 11.3%; its operating margin was 50.4%.
What is Oaktree Specialty Lending's gross margin?
Oaktree Specialty Lending's gross margin was 87.2% in fiscal 2025: for every $100 of revenue, Oaktree Specialty Lending kept $87 after the direct cost of its products and services.
How fast is Oaktree Specialty Lending growing?
Revenue grew 41.8% a year on average over the last five fiscal years, from $52.3 million to $299.7 million.
What are Oaktree Specialty Lending's earnings per share?
Oaktree Specialty Lending earned $1.76 per diluted share in fiscal 2025, compared with $2.22 a year earlier.
When will Oaktree Specialty Lending report its next earnings?
Oaktree Specialty Lending is expected to report results for the quarter ending September 30, 2026 on November 17, 2026 before the market opens.
When does Oaktree Specialty Lending's fiscal year end?
Oaktree Specialty Lending's fiscal year ends in September. The latest annual report covers the year ended September 30, 2025 and was filed on November 18, 2025.