OCSL FY 2019 Earnings Report — Oaktree Specialty Lending Corporation Revenue & Financial Results | Market Cap Arena

Oaktree Specialty Lending CorporationOCSL

FY 2019 Earnings

Reported November 19, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$160M	—	$93M	—	71.5%
Op. Income	$127M	—	$47M	—	168.4%
Gross Margin	79.7%	—	61.6%	—	18.1pp
Net Margin	79.1%	—	50.3%	—	28.8pp
EPS (Diluted)	$2.69	—	$1.00	—	169.0%
Free Cash Flow	$216M	—	$54M	—	303.3%

Revenue Flow

Item	Amount
REVENUE	$160M
Cost of Revenue	$32M
GROSS PROFIT	$127M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$8M
SG&A Expenses	$8M
Other Expenses	-$8M
Operating Expenses	-$43.0K
Cost & Expenses	$32M
OPERATING INCOME	$127M
Interest Income	$139M
Interest Expense	$32M
Other Income/Expenses	$0
INCOME BEFORE TAX	$127M
Income Tax Expense	$1M
Net Income from Continuing Ops	$126M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$126M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$126M
D&A	$0
EBIT	$127M
EBITDA	$127M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$160M
Cost of Revenue	$32M
GROSS PROFIT	$127M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$8M
SG&A Expenses	$8M
Other Expenses	-$8M
Operating Expenses	-$43.0K
Cost & Expenses	$32M
OPERATING INCOME	$127M
Interest Income	$139M
Interest Expense	$32M
Other Income/Expenses	$0
INCOME BEFORE TAX	$127M
Income Tax Expense	$1M
Net Income from Continuing Ops	$126M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$126M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$126M
D&A	$0
EBIT	$127M
EBITDA	$127M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$126M
Depreciation & Amortization	$0
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$48M
Change in Working Capital	$41M
OPERATING CASH FLOW	$216M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$478M
Sales/Maturities of Investments	$606M
Other Investing Activities	-$128M
NET CASH FROM INVESTING	$0
Net Debt Issuance	-$158M
Common Stock Repurchased	-$1M
Common Dividends Paid	-$52M
Other Financing Activities	-$3M
NET CASH FROM FINANCING	-$214M
FREE CASH FLOW	$216M
Net Change in Cash	$2M

Balance Sheet

Item	Amount
Cash & Equivalents	$15M
Short-Term Investments	$0
Net Receivables	$18M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$34M
PP&E (Net)	$0
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$490.0K
Tax Assets	$0
Other Non-Current Assets	$1.4B
TOTAL NON-CURRENT ASSETS	$1.4B
TOTAL ASSETS	$1.5B
Account Payables	$2M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$2M
Long-Term Debt	$473M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$75M
TOTAL NON-CURRENT LIABILITIES	$548M
TOTAL LIABILITIES	$550M
Common Stock	$1M
Additional Paid-In Capital	$1.5B
Retained Earnings	-$559M
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$931M
Minority Interest	$0
TOTAL EQUITY	$931M
TOTAL LIABILITIES & EQUITY	$1.5B
Total Debt	$473M
Net Debt	$458M