OX
Oxford Square Capital Corp
OXSQ—
Oxford Square Capital Corp AI Insights
Informational only. Not investment advice.Snapshot
- Interest expense TTM (8.4M) is 4.6x total revenue (1.8M) - debt servicing vastly exceeds income generation, structurally unprofitable[Interest Expense TTM]
- Trading at 0.93x book value (P/B) with negative ROE (-1.6% TTM) - discount reflects capital destruction, not opportunity[Price to Book Ratio]
- FCF of -21.8M TTM while paying 8.1M dividends - distributions funded by equity issuance (12M raised), not operations[Free Cash Flow TTM]
Watch Triggers
- Interest Income: Falls below 4M quarterly — Portfolio yield compression would accelerate losses; currently 5.2M barely offsets 8.4M interest expense
- Dividends Paid Per Share TTM: Cut below 0.30/share annualized — Dividend cut would signal management acknowledges unsustainability, likely triggering 20%+ selloff
- Net Common Stock Issuance: Exceeds 15M in any quarter — Accelerating dilution to fund operations indicates deteriorating credit portfolio
Bull Case
P/B of 0.93x offers potential upside if credit portfolio stabilizes - tangible book of 159M vs 148M market cap
Price to Book RatioTangible Book Value
Cash position doubled to 50.8M (16% of assets) provides liquidity buffer amid portfolio stress
Cash and EquivalentsEnd Cash Position
Bear Case
Debt/equity 0.95x with interest expense (8.4M) consuming 463% of revenue - leverage is existential risk
Debt to EquityInterest Expense TTM
All return metrics negative (ROE -1.6%, ROA -0.8%, ROIC -0.9%) vs positive industry medians - destroying capital
ROE TTMROA TTMROIC TTM
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
25%
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Forward Thesis
Dividend likely unsustainable without continued equity dilution or asset sales
3-12mhigh
- FCF -21.8M cannot cover 8.1M dividend
- Net income -2.6M TTM with negative margin
- 12M equity issuance in period to fund gap
Dividend yield 0.42/share vs EPS -0.03Interest expense 4.6x revenueROE -1.6%, ROIC -0.9% TTM
Valuation Context
Caveats
Public Strategies Rankings
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OXSQ Fundamentals
Finance and Insurance → Securities, Commodity Contracts, and Other Financial Investments and Related Activities
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$147.61M | — | ||
$248.22M | — | ||
0.00 | — | ||
$1.81M | — | ||
$-0.03 | — | ||
0% | — | ||
-142% | -2478.1% | — | |
$-21.8M | — | ||
-0.02 | +1.4% | — | |
Beta 5Y (Monthly) | unknown | — |
OXSQ Dividend History
147 dividends
2026
$0.105003/17/26$0.0350
02/13/26$0.0350
01/16/26$0.0350
2025
$0.420012/17/25$0.0350
11/14/25$0.0350
10/17/25$0.0350
09/16/25$0.0350
08/15/25$0.0350
07/17/25$0.0350
06/16/25$0.0350
05/16/25$0.0350
04/16/25$0.0350
03/17/25$0.0350
02/14/25$0.0350
01/17/25$0.0350
2024
$0.420012/17/24$0.0350
11/15/24$0.0350
10/17/24$0.0350
09/16/24$0.0350
08/16/24$0.0350
07/17/24$0.0350
06/14/24$0.0350
05/16/24$0.0350
04/15/24$0.0350
03/14/24$0.0350
02/14/24$0.0350
01/16/24$0.0350
2023
$0.540012/14/23$0.0350
11/15/23$0.0350
10/16/23$0.0350
09/14/23$0.1550
08/16/23$0.0350
07/14/23$0.0350
06/15/23$0.0350
05/16/23$0.0350
04/13/23$0.0350
03/16/23$0.0350
02/13/23$0.0350
01/13/23$0.0350
2022
$0.420012/15/22$0.0350
11/15/22$0.0350
10/14/22$0.0350
09/15/22$0.0350
08/16/22$0.0350
07/14/22$0.0350
06/15/22$0.0350
05/16/22$0.0350
04/13/22$0.0350
03/16/22$0.0350
02/11/22$0.0350
01/13/22$0.0350
2021
$0.420012/16/21$0.0350
11/15/21$0.0350
10/14/21$0.0350
09/15/21$0.0350
08/16/21$0.0350
07/15/21$0.0350
06/15/21$0.0350
05/13/21$0.0350
04/15/21$0.0350
03/16/21$0.0350
02/11/21$0.0350
01/14/21$0.0350
2020
$0.612012/15/20$0.0350
11/12/20$0.0350
10/15/20$0.0350
09/15/20$0.0350
08/14/20$0.0350
07/16/20$0.0350
06/12/20$0.0670
05/13/20$0.0670
04/14/20$0.0670
03/16/20$0.0670
02/13/20$0.0670
01/16/20$0.0670
2019
$0.803012/17/19$0.0670
11/14/19$0.0670
10/18/19$0.0670
09/20/19$0.0670
08/22/19$0.0670
07/23/19$0.0670
06/20/19$0.0670
05/23/19$0.0670
04/22/19$0.0670
03/14/19$0.2000
2018
$0.800012/14/18$0.2000
09/13/18$0.2000
06/14/18$0.2000
03/15/18$0.2000
2017
$0.800012/14/17$0.2000
09/14/17$0.2000
06/14/17$0.2000
03/14/17$0.2000
2016
$1.160012/14/16$0.2900
09/14/16$0.2900
06/14/16$0.2900
03/15/16$0.2900
2015
$1.140012/14/15$0.2900
09/14/15$0.2900
06/12/15$0.2900
03/13/15$0.2700
2014
$1.160012/15/14$0.2900
09/12/14$0.2900
06/12/14$0.2900
03/21/14$0.2900
2013
$1.160012/13/13$0.2900
09/12/13$0.2900
06/12/13$0.2900
03/20/13$0.2900
2012
$1.120012/13/12$0.2900
09/12/12$0.2900
06/13/12$0.2700
03/19/12$0.2700
2011
$0.990012/14/11$0.2500
09/14/11$0.2500
06/14/11$0.2500
03/17/11$0.2400
2010
$0.810012/08/10$0.2400
09/08/10$0.2200
06/08/10$0.2000
03/22/10$0.1500
2009
$0.600012/08/09$0.1500
09/08/09$0.1500
06/08/09$0.1500
03/13/09$0.1500
2008
$1.060012/08/08$0.2000
09/08/08$0.2000
06/12/08$0.3000
03/18/08$0.3600
2007
$1.440012/06/07$0.3600
09/05/07$0.3600
06/06/07$0.3600
03/07/07$0.3600
2006
$1.380012/27/06$0.1200
12/06/06$0.3400
09/06/06$0.3200
06/07/06$0.3000
03/08/06$0.3000
2005
$1.010012/28/05$0.1200
12/07/05$0.3000
09/07/05$0.2500
06/08/05$0.2000
03/08/05$0.1400
2004
$0.430012/29/04$0.1100
09/08/04$0.1100
06/08/04$0.1100
03/11/04$0.1000
OXSQ Stock Splits
No stock splits
OXSQ SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
11/07/25 | 09/30/25 | 10-Q | |
08/12/25 | 06/30/25 | 10-Q | |
05/01/25 | 03/31/25 | 10-Q | |
03/05/25 | 12/31/24 | 10-K | |
11/07/24 | 09/30/24 | 10-Q | |
08/14/24 | 06/30/24 | 10-Q | |
05/03/24 | 03/31/24 | 10-Q | |
03/19/24 | 12/31/23 | 10-K | |
11/08/23 | 09/30/23 | 10-Q | |
08/10/23 | 06/30/23 | 10-Q | |
05/02/23 | 03/31/23 | 10-Q | |
03/23/23 | 12/31/22 | 10-K | |
11/08/22 | 09/30/22 | 10-Q | |
07/28/22 | 06/30/22 | 10-Q | |
04/28/22 | 03/31/22 | 10-Q | |
03/07/22 | 12/31/21 | 10-K | |
10/28/21 | 09/30/21 | 10-Q | |
07/29/21 | 06/30/21 | 10-Q | |
04/29/21 | 03/31/21 | 10-Q | |
03/22/21 | 12/31/20 | 10-K | |
10/28/20 | 09/30/20 | 10-Q | |
07/29/20 | 06/30/20 | 10-Q | |
04/29/20 | 03/31/20 | 10-Q | |
02/26/20 | 12/31/19 | 10-K | |
10/30/19 | 09/30/19 | 10-Q | |
07/31/19 | 06/30/19 | 10-Q | |
05/01/19 | 03/31/19 | 10-Q | |
02/28/19 | 12/31/18 | 10-K | |
10/31/18 | 09/30/18 | 10-Q | |
08/01/18 | 06/30/18 | 10-Q | |
05/02/18 | 03/31/18 | 10-Q | |
03/01/18 | 12/31/17 | 10-K | |
11/02/17 | 09/30/17 | 10-Q | |
08/08/17 | 06/30/17 | 10-Q | |
05/08/17 | 03/31/17 | 10-Q | |
03/03/17 | 12/31/16 | 10-K | |
11/07/16 | 09/30/16 | 10-Q | |
08/05/16 | 06/30/16 | 10-Q | |
05/05/16 | 03/31/16 | 10-Q | |
03/09/18 | 12/31/15 | 10-K/A | |
03/10/16 | 12/31/15 | 10-K | |
11/09/15 | 09/30/15 | 10-Q | |
08/07/15 | 06/30/15 | 10-Q | |
05/11/15 | 03/31/15 | 10-Q | |
03/04/15 | 12/31/14 | 10-K | |
11/06/14 | 09/30/14 | 10-Q | |
08/08/14 | 06/30/14 | 10-Q | |
05/12/14 | 03/31/14 | 10-Q | |
03/17/14 | 12/31/13 | 10-K | |
11/12/13 | 09/30/13 | 10-Q | |
08/08/13 | 06/30/13 | 10-Q | |
05/09/13 | 03/31/13 | 10-Q | |
03/13/13 | 12/31/12 | 10-K | |
11/09/12 | 09/30/12 | 10-Q | |
08/03/12 | 06/30/12 | 10-Q | |
05/10/12 | 03/31/12 | 10-Q | |
03/15/12 | 12/31/11 | 10-K | |
11/09/11 | 09/30/11 | 10-Q | |
08/05/11 | 06/30/11 | 10-Q | |
05/09/11 | 03/31/11 | 10-Q | |
03/09/11 | 12/31/10 | 10-K | |
11/05/10 | 09/30/10 | 10-Q | |
08/06/10 | 06/30/10 | 10-Q | |
05/07/10 | 03/31/10 | 10-Q | |
03/15/10 | 12/31/09 | 10-K | |
11/09/09 | 09/30/09 | 10-Q | |
08/10/09 | 06/30/09 | 10-Q | |
05/08/09 | 03/31/09 | 10-Q | |
03/16/09 | 12/31/08 | 10-K | |
11/10/08 | 09/30/08 | 10-Q | |
08/11/08 | 06/30/08 | 10-Q | |
05/08/08 | 03/30/08 | Unknown | -- |
03/17/08 | 12/31/07 | 10-K | |
11/08/07 | 09/30/07 | 10-Q | |
08/08/07 | 06/30/07 | 10-Q | |
05/09/07 | 03/30/07 | Unknown | -- |
03/13/07 | 12/31/06 | 10-K | |
11/09/06 | 09/30/06 | 10-Q | |
08/09/06 | 06/30/06 | 10-Q | |
05/09/06 | 03/30/06 | Unknown | -- |
03/14/06 | 12/31/05 | 10-K | |
11/04/05 | 09/30/05 | 10-Q | |
08/08/05 | 06/30/05 | 10-Q | |
05/09/05 | 03/30/05 | Unknown | -- |
03/16/05 | 12/31/04 | 10-K | |
11/12/04 | 09/30/04 | 10-Q | |
08/10/04 | 06/30/04 | 10-Q | |
05/14/04 | 03/30/04 | Unknown | -- |