Oxford Square Capital Corp. 5.50% Notes due 2028 (OXSQG)

Key Financials

AI Analysis

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

I am looking at a 5.50% note due 2028, so my first question is repayment and interest coverage, not whether the issuer can grow quickly. The filed results for Oxford Square Capital are uneven. Fiscal 2023 produced net income of $17.2 million and diluted EPS of $0.51; fiscal 2024 earned $5.9 million and $0.42; then fiscal 2025 swung to a net loss of $18.7 million, with diluted EPS of $0.30 as filed. The quarterly path is also volatile: fiscal Q1 2026 showed a net loss of $25.5 million, while fiscal Q2 2026 produced net income of $4.0 million. Fiscal Q3 2025 had a $2.1 million loss, and fiscal Q2 2025 had $4.4 million of income. Revenue is not provided, and FairStock's P/E, P/B, ROE, ROCE and debt-to-equity figures are not available. That leaves no hard evidence of a moat, pricing power, or balance-sheet strength. The computed Lynch category is TURNAROUND, with the reason loss in the latest year after earlier profits. At $23.90 on 2026-10-16, the note sits near the bottom of its $23.50-$24.65 52-week range, but a note should be judged on coupon, maturity, covenants, asset coverage and repayment capacity. None of those credit metrics are in the data. I see a business with deteriorating recent earnings and no measurable margin of safety from the supplied numbers. I would need sustained positive earnings and clear balance-sheet protection before calling this a sound credit.

In plain English: This is a note that pays 5.50% and matures in 2028, not a common stock. The company behind it has had uneven results: a net loss of $18.7 million in fiscal 2025 after profits in fiscal 2023 and 2024. At $23.90 on 2026-10-16, the note is near the low of its 52-week range, but the figures given are not enough to say whether it is cheap, fair or expensive.

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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