OFS Capital Corporation 4.95% Notes due 2028 (OFSSH)

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a Graham-and-Buffett investor, I start by asking what I own. OFSSH is not common equity; it is OFS Capital Corporation's 4.95% note due 2028, priced at $23.52 at the 2026-10-16 close, within a 52-week range of $22.60–$24.10. The market cap is $315.1M, but the supplied data give me no P/E, P/B, ROE, revenue, or growth figures, so I cannot verify a durable moat from the numbers. What I can see is earnings volatility. In fiscal 2024 the company earned $28.4M, or $2.12 per diluted share. In fiscal 2025 it lost $33.1M, or $2.47 per diluted share, and fiscal 2023 was a small loss of $465,000, or $0.04 per diluted share. The quarterly path is uneven: fiscal Q1 2026 lost $11.6M, or $0.86 per diluted share, while fiscal Q2 2026 earned $5.6M, or $0.42 per diluted share. Fiscal Q2 2025 lost $9.6M, or $0.72 per diluted share. FairStock labels this a TURNAROUND—loss in the latest year after earlier profits—and I agree that label fits the filed annual results. For a note, the key question is not growth but whether the issuer can pay coupon and principal; losses at the equity level reduce my comfort. The price sits in the upper half of its own range, so I see no obvious distress bargain in the quoted price. I would want a clear, repeatable return to profitability and a margin of safety before calling this compelling.

In plain English: This is a 4.95% note due in 2028 from OFS Capital Corporation. The company has had uneven earnings: a large loss in fiscal 2025 after a profit in fiscal 2024. The price is near the upper half of its 52-week range, and usual stock measures are not available, so it does not look like a clear bargain based on the numbers given.

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Data as of 2026-10-16 close · note generated 2026-10-20 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer