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OXLC

Oxford Lane CapitalNasdaqGS:OXLC Stock Report

Last Price

US$8.14

Market Cap

US$999.6m

7D

-2.3%

1Y

36.1%

Updated

19 Jan, 2022

Data

Company Financials +
OXLC fundamental analysis
Snowflake Score
Valuation3/6
Future Growth2/6
Past Performance3/6
Financial Health3/6
Dividends3/6

OXLC Stock Overview

Oxford Lane Capital Corp. is a close ended fund launched and managed by Oxford Lane Management LLC.

Price History & Performance

Summary of all time highs, changes and price drops for Oxford Lane Capital
Historical stock prices
Current Share PriceUS$8.14
52 Week HighUS$8.53
52 Week LowUS$5.77
Beta1.14
1 Month Change10.75%
3 Month Change4.09%
1 Year Change36.12%
3 Year Change-20.51%
5 Year Change-25.39%
Change since IPO-58.68%

Recent News & Updates

Dec 17

Top Pick For 2022: OXLC, Yield 12%

2022 is coming fast. Inflation is in the cards, and value stocks should outperform. We introduce our first Pick of the Year for 2022!

Dec 10

Oxford Lane Capital: The Rest Of The Story ('Business Value' Versus 'Paper Value')

Oxford Lane Capital surprised investors recently when it announced its estimated NAV had dropped almost 4% from a month earlier. This seemed out-of-step with this year's positive story about collateralized loan obligations (CLOs) and the corporate loan market generally, and OXLC in particular. Especially given OXLC's recent 11% distribution increase, and the strong distribution coverage outlined in its recent semi-annual report. Investors scratching their heads may be pleased to learn that a CLO's "paper value" may not truly reflect its actual "business value." To put it bluntly, a drop in loan prices that reduces the theoretical value of a CLO's equity, at least on paper, may also increase its profitability.

Feb 04

Oxford Lane Capital estimates NAV rose at least 7.4% in January

Oxford Lane Capital ([[OXLC]] +0.9%) estimates net asset value per share of $5.84-$5.94 at Jan. 31, 2021, or 7.4%-9.2% higher than its $5.44 NAV at the end of December.The estimated range implies that OXLC's closing stock price of $6.23 on Jan. 29, the last trading day of the month, represented a 4.9%-6.7% premium over estimated NAV.

Feb 01

Oxford Lane Capital earnings climb, NAV drives up in Q3

Oxford Lane Capital (OXLC) fiscal Q3 core net investment income of 37 cents per share climbs from 24 cents in the previous quarter.Net asset value of $5.44 per share at Dec. 31, 2020 jump 40% during the quarter vs. $3.88 at Sept. 30, 2020.OXLC rises 1.8% in premarket trading.Total investment income was $31.4M for the quarter ended Dec. 31, 2020, up 4.3% Q/Q.At Dec. 31, 2020, weighted average yield of OXLC's CLO debt investments at current cost

Shareholder Returns

OXLCUS Capital MarketsUS Market
7D-2.3%-5.0%-3.5%
1Y36.1%25.7%10.2%

Return vs Industry: OXLC exceeded the US Capital Markets industry which returned 25.7% over the past year.

Return vs Market: OXLC exceeded the US Market which returned 10.2% over the past year.

Price Volatility

Is OXLC's price volatile compared to industry and market?
OXLC volatility
OXLC Average Weekly Movement3.3%
Capital Markets Industry Average Movement0.7%
Market Average Movement6.6%
10% most volatile stocks in US Market15.8%
10% least volatile stocks in US Market2.4%

Stable Share Price: OXLC is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: OXLC's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2010n/aJonathan Cohenhttps://www.oxfordlanecapital.com

Oxford Lane Capital Corp. is a close ended fund launched and managed by Oxford Lane Management LLC. It invests in fixed income securities. The fund primarily invests in securitization vehicles which in turn invest in senior secured loans made to companies whose debt is rated below investment grade or is unrated.

Oxford Lane Capital Fundamentals Summary

How do Oxford Lane Capital's earnings and revenue compare to its market cap?
OXLC fundamental statistics
Market CapUS$999.59m
Earnings (TTM)US$363.54m
Revenue (TTM)US$154.44m

2.7x

P/E Ratio

6.5x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
OXLC income statement (TTM)
RevenueUS$154.44m
Cost of RevenueUS$0
Gross ProfitUS$154.44m
Expenses-US$209.09m
EarningsUS$363.54m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)2.96
Gross Margin100.00%
Net Profit Margin235.39%
Debt/Equity Ratio38.4%

How did OXLC perform over the long term?

See historical performance and comparison

Dividends

11.1%

Current Dividend Yield

26%

Payout Ratio

Does OXLC pay a reliable dividends?

See OXLC dividend history and benchmarks
When do you need to buy OXLC by to receive an upcoming dividend?
Oxford Lane Capital dividend dates
Ex Dividend DateFeb 11 2022
Dividend Pay DateFeb 28 2022
Days until Ex dividend22 days
Days until Dividend pay date39 days

Does OXLC pay a reliable dividends?

See OXLC dividend history and benchmarks

Valuation

Is Oxford Lane Capital undervalued compared to its fair value and its price relative to the market?

2.75x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate OXLC's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate OXLC's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: OXLC is good value based on its PE Ratio (2.7x) compared to the US Capital Markets industry average (15.5x).

PE vs Market: OXLC is good value based on its PE Ratio (2.7x) compared to the US market (17x).


Price to Earnings Growth Ratio

PEG Ratio: OXLC's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: OXLC is good value based on its PB Ratio (1.2x) compared to the US Capital Markets industry average (42.2x).

Future Growth

How is Oxford Lane Capital forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

-58.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: OXLC's earnings are forecast to decline over the next 3 years (-58.4% per year).

Earnings vs Market: OXLC's earnings are forecast to decline over the next 3 years (-58.4% per year).

High Growth Earnings: OXLC's earnings are forecast to decline over the next 3 years.

Revenue vs Market: OXLC's revenue (27.5% per year) is forecast to grow faster than the US market (9.2% per year).

High Growth Revenue: OXLC's revenue (27.5% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if OXLC's Return on Equity is forecast to be high in 3 years time

Past Performance

How has Oxford Lane Capital performed over the past 5 years?

10.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: OXLC has a high level of non-cash earnings.

Growing Profit Margin: OXLC became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: OXLC's earnings have grown by 10.9% per year over the past 5 years.

Accelerating Growth: OXLC has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: OXLC has become profitable in the last year, making it difficult to compare its past year earnings growth to the Capital Markets industry (86.4%).


Return on Equity

High ROE: OXLC's Return on Equity (44.4%) is considered outstanding.

Financial Health

How is Oxford Lane Capital's financial position?


Financial Position Analysis

Short Term Liabilities: OXLC's short term assets ($87.3M) do not cover its short term liabilities ($112.6M).

Long Term Liabilities: OXLC's short term assets ($87.3M) do not cover its long term liabilities ($314.6M).


Debt to Equity History and Analysis

Debt Level: OXLC's net debt to equity ratio (30%) is considered satisfactory.

Reducing Debt: OXLC's debt to equity ratio has reduced from 60% to 38.4% over the past 5 years.

Debt Coverage: OXLC's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: OXLC's interest payments on its debt are well covered by EBIT (6.2x coverage).


Balance Sheet

Dividend

What is Oxford Lane Capital current dividend yield, its reliability and sustainability?

11.06%

Current Dividend Yield


Upcoming Dividend Payment

TodayJan 20 2022Ex Dividend DateFeb 11 2022Dividend Pay DateFeb 28 202217 days from Ex DividendBuy in the next 22 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: OXLC's dividend (11.06%) is higher than the bottom 25% of dividend payers in the US market (1.35%).

High Dividend: OXLC's dividend (11.06%) is in the top 25% of dividend payers in the US market (3.48%)


Stability and Growth of Payments

Stable Dividend: OXLC's dividend payments have been volatile in the past 10 years.

Growing Dividend: OXLC's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (26.2%), OXLC's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.

Management

How experienced are the management team and are they aligned to shareholders interests?

3.8yrs

Average management tenure


CEO

Jonathan Cohen (56 yo)

12yrs

Tenure

Mr. Jonathan Harris Cohen serves as the Chief Executive Officer at Oxford Square Management, LLC. He has been the Chief Executive Officer of Oxford Square Capital Corp. (formerly, TICC Capital Corp.) since...


Leadership Team

Experienced Management: OXLC's management team is considered experienced (3.8 years average tenure).


Board Members

Experienced Board: OXLC's board of directors are seasoned and experienced ( 12 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 40%.


Top Shareholders

Company Information

Oxford Lane Capital Corp.'s employee growth, exchange listings and data sources


Key Information

  • Name: Oxford Lane Capital Corp.
  • Ticker: OXLC
  • Exchange: NasdaqGS
  • Founded: 2010
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Implied Market Cap: US$999.592m
  • Shares outstanding: 122.80m
  • Website: https://www.oxfordlanecapital.com

Location

  • Oxford Lane Capital Corp.
  • Greenwich
  • Connecticut
  • United States

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/19 23:46
End of Day Share Price2022/01/19 00:00
Earnings2021/09/30
Annual Earnings2021/03/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.