OFS Capital Corporation
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Range $7 – $7
Price Chart
About the company
OFS Capital Corporation functions as a business development company, delivering adaptable capital solutions, predominantly through debt financing and, to a lesser degree, minority equity investments. The firm concentrates on U. S.
- CEO
- Bilal Rashid
- IPO
- 2012
- Employees
- 47
- HQ
- Chicago, IL, US
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Peers in the same neighborhood.
- Market Cap
- $47.97M
- P/E
- -2.17
- Fwd P/E
- 8.95
- PEG
- 0.00
- P/S
- -7.60
- P/B
- 0.43
- EV/EBITDA
- -15.99
- Div Yield
- 23.74%
- Gross Margin
- 294.25%
- Op Margin
- 223.33%
- Net Margin
- 351.59%
- ROE
- -18.44%
- ROIC
- -4.74%
Latest fiscal year · YoY change
- Revenue
- $-11,809,000-123.8%
- Gross Profit
- $-28,319,000-186.1%
- Op Income
- $-33,093,000
- Net Income
- $-33,093,000-216.4%
- EPS
- $-2.47-216.5%
- OCF Growth
- +32.2%
- FCF Growth
- +32.2%
- 52W High
- $8.99
- 52W Low
- $2.72
- 50D MA
- $3.58
- 200D MA
- $4.09
- Beta
- 0.90
- RSI (14)
- 50
- Avg Volume
- 62.12K
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
OFS Capital’s quarter showed lower net investment income but stronger NAV and leverage improvement, as management shifts from de-risking the balance sheet to redeploying capital.· July 31, 2026
- Net investment income fell to $0.08 per share from $0.18 last quarter, mainly due to the loss of Fansteel’s prior nonrecurring dividend, lower investment income, and a new nonaccrual loan.
- NAV rose to $8.41 per share from $8.16, helped primarily by $14.1 million of unrealized appreciation in the Fansteel equity stake.
- The company maintained its quarterly distribution at $0.17 per share for Q3 2026, which it said implies a 19.2% annualized yield at the market price.
- Balance sheet metrics improved: total debt was reduced by $57.6 million over the past 12 months, and regulatory asset coverage improved to 161%.
- Fansteel remains the biggest holding at $94.6 million, or about 32% of the portfolio at fair value, and management continues to look for a monetization path while staying disciplined.
OFS Capital reported net investment income of $1 million, or $0.08 per share, down $0.10 per share sequentially. Total investment income decreased approximately 23% to $6.8 million, while total expenses decreased approximately 9% to $5.8 million. NAV per share increased approximately 3%, or $0.25, to $8.41, driven largely by $14.1 million of unrealized appreciation on Fansteel, partly offset by $6.5 million of realized and unrealized losses in the credit portfolio. The company placed 1 loan on nonaccrual; that loan was marked at 79% of par and represented 3.5% of the total portfolio at fair value. Quarter-end regulatory asset coverage was 161%, up 7 percentage points, and it made $16.7 million of aggregate debt repayments during the quarter. Management said the quarterly distribution will remain $0.17 per share for Q3 2026. No full-year EPS or revenue guidance was provided.
Bilal Rashid said the quarter reflects the lingering impact of prior deleveraging and the redemption of the company’s 4.75% notes, but he emphasized that the balance sheet is now in much better shape. He framed the next phase as redeploying capital into income-generating investments while continuing to seek a monetization of Fansteel, without sacrificing underwriting discipline. His tone was cautiously constructive: he acknowledged macro uncertainty and a new nonaccrual, but said the portfolio is positioned to navigate the environment and that the company is better set up to improve NII going forward.
Kyle Spina said net investment income declined because top-line income fell $2.1 million quarter over quarter, partially offset by a $610 thousand decline in total expenses. He pointed to lower interest-bearing portfolio size from deleveraging, the loss of the $874 thousand Fansteel dividend, and the new nonaccrual as the main drivers of lower income, while also noting the 4.75% note redemption compressed net interest margin. He highlighted improved leverage metrics, including $16.7 million of debt repayments, 161% regulatory asset coverage, $6 million of unfunded commitments, and a portfolio mix of about 66% senior secured loans, 22% structured finance securities, and 12% equity securities.
There was no substantive analyst Q&A in the transcript; the call ended after management opened the line for questions. The most notable issues management itself addressed were the new nonaccrual loan, lower NII, and the plan to monetize Fansteel while redeploying capital. Management said it is actively working with the borrower to restore accrual status and believes the business has the liquidity to keep making debt service payments while preserving cash for turnaround initiatives.
The balance sheet is cleaner than it was a year ago, with all near-term maturities extended to 2028-2031 and debt reduced by $57.6 million. NAV improved, leverage metrics strengthened, and management believes the company is now positioned to shift toward higher NII through new deployments. Fansteel also continues to perform operationally, and the company sees meaningful long-term value in that holding.
NII fell sharply to $0.08 per share, showing that deleveraging, lower portfolio income, and the new nonaccrual are still pressuring earnings power. Fansteel is a positive contributor but also a large concentration at about 32% of the portfolio, creating dependence on one asset for NAV support and potential monetization. CLO equity was also pressured by spread tightening and weak sentiment, and management said macro uncertainty around rates, inflation, geopolitics, and AI remains a watch item.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 99.4%
- Shares Outstanding
- 13.40M
- Float Shares
- 13.32M
of shares held by institutions
33 13F filers
Buy/sell ratio 0.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Two Sigma Advisers, LP | 109.30K | ▼ 67.00K |
| Cwm, LLC | 100 | ▲ 100 |
Held by 1 ETFs
Biggest fund positions in OFS by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Jun 30, 23 | OI3, LLC | other | 0 |
| Apr 21, 23 | Spina Kyle | other | 0 |
| Jan 9, 23 | Orchard First Source Asset Management Holdings, LLC | other | 0 |
| Jan 9, 23 | Orchard First Source Asset Management, LLC | other | 2,946,474 |
| Mar 25, 22 | Teune Ross | other | 0 |
| Jan 5, 22 | Ranganathan Ashwin | other | 0 |
| Sep 15, 21 | Orchard Investments, LLC | other | 0 |
| Jan 8, 21 | Shetty Romita | other | 0 |
| May 28, 20 | HEALY ELAINE | buy | 10,000 |
| Nov 17, 20 | Porter Mukya | buy | 210 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our OFS coverage
Recent articles, reports, and earnings notes.
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Generate OFS report →OFS Credit Company Declares September and October Monthly Common Stock Cash Distributions
businesswire.com · Aug 17
OFS Credit Company Provides July 2026 Net Asset Value Update
businesswire.com · Aug 14
OFS Capital (OFS) Q2 2026 Earnings Call Prepared Remarks Transcript
seekingalpha.com · Jul 31
OFS Capital Corporation Announces Second Quarter 2026 Financial Results
businesswire.com · Jul 30
OFS Capital Corporation Announces Date for Its Second Quarter 2026 Earnings Release and Conference Call
businesswire.com · Jul 22
OFS Credit Company Declares August 2026 Common Stock Cash Distribution
businesswire.com · Jul 16
OFS Credit Company Provides June 2026 Net Asset Value Update
businesswire.com · Jul 15
OFS Credit Company Provides May 2026 Net Asset Value Update
businesswire.com · Jun 15
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