Oaktree Specialty Lending (OCSL) Net Margin (2021 - 2026)
Oaktree Specialty Lending's (OCSL) quarterly Net Margin came in at 12.07% in Q2 2026, up 79.0% year-over-year from 6.74% in Q2 2025, and down 2.74% quarter-over-quarter from 12.41% in Q1 2026.
Analysis
Oaktree Specialty Lending (OCSL) Net Margin (2021 - 2026) Analysis & Trends
Oaktree Specialty Lending has disclosed Net Margin across 6 years of filings, most recently posting 12.07% for Q2 2026.
- In Q2 2026, Net Margin rose 79.0% year-over-year to 12.07%; the TTM figure through Jun 2026 stood at 11.92% (down 80.0% YoY), while the FY2025 annual figure was 11.61%, down 55.0% from the prior year.
- Net Margin came in at 12.07% for Q2 2026 at Oaktree Specialty Lending, down from 12.41% in the prior quarter.
- In the past five years, Net Margin ranged from a high of 46.95% in Q1 2022 to a low of 11.2% in Q1 2024.
- Average Net Margin over 5 years is 19.31%, with a median of 14.18% recorded in 2025.
- Year-over-year, Net Margin tumbled 2624 bps in 2023 and surged 378 bps in 2025.
- Over 5 years, Net Margin stood at 22.94% in 2022, then tumbled by 47 bps to 12.27% in 2023, then advanced by 29 bps to 15.86% in 2024, then dropped by 16 bps to 13.37% in 2025, then declined by 10 bps to 12.07% in 2026.
- Per Business Quant data, the three most recent Net Margin figures were 12.07% in Q2 2026, 12.41% in Q1 2026, and 13.37% in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Ares Capital | 14.08 Bn | 13.70 Bn | - | 18.88% |
| 2 | Blackstone Secured Lending Fund | 5.66 Bn | 5.39 Bn | - | 22.69% |
| 3 | Blue Owl Capital | 5.49 Bn | 5.25 Bn | - | 13.25% |
| 4 | Main Street Capital | 5.23 Bn | 5.18 Bn | - | 113.52% |
| 5 | Blue Owl Technology Finance | 4.96 Bn | 4.75 Bn | - | 8.83% |
| 6 | Hercules Capital | 4.66 Bn | 4.61 Bn | - | 39.56% |
| 7 | FS KKR Capital | 3.34 Bn | 3.23 Bn | - | - |
| 8 | Golub Capital Bdc | 3.30 Bn | 3.25 Bn | - | -2.12% |
| 9 | PennantPark Floating Rate Capital | 2.49 Bn | -118.08 Mn | - | -29.16% |
| 10 | Oaktree Specialty Lending | 1.11 Bn | 1.07 Bn | - | 12.07% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 12.07% |
| Mar 31, 2026 | 12.41% |
| Dec 31, 2025 | 13.37% |
| Jun 30, 2025 | 11.28% |
| Mar 31, 2025 | 14.98% |
| Dec 31, 2024 | 15.86% |
| Jun 30, 2024 | 11.70% |
| Mar 31, 2024 | 11.20% |
| Dec 31, 2023 | 12.27% |
| Jun 30, 2023 | 19.45% |
| Mar 31, 2023 | 20.71% |
| Dec 31, 2022 | 22.94% |
| Jun 30, 2022 | 45.14% |
| Mar 31, 2022 | 46.95% |
| Dec 31, 2021 | 35.26% |
| Sep 30, 2021 | -2.17% |