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Oaktree Strategic Income

Nasdaq:OCSI
Snowflake Description

Solid track record and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
OCSI
Nasdaq
$154M
Market Cap
  1. Home
  2. US
  3. Diversified Financials
Company description

Fifth Street Senior Floating Rate Corp. is a business development company specializing in providing financing solutions in the form of floating rate senior secured loans to mid-sized companies. The last earnings update was 59 days ago. More info.


Add to Portfolio Compare Print
  • Oaktree Strategic Income is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
  • Oaktree Strategic Income has significant price volatility in the past 3 months.
OCSI Share Price and Events
7 Day Returns
-2.8%
NasdaqGS:OCSI
-1.2%
US Capital Markets
-2%
US Market
1 Year Returns
-37.7%
NasdaqGS:OCSI
-14.1%
US Capital Markets
-15.1%
US Market
OCSI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Oaktree Strategic Income (OCSI) -2.8% -36% -36.7% -37.7% -35.2% -50.7%
US Capital Markets -1.2% -19.8% -24.6% -14.1% 1% 18.8%
US Market -2% -19.7% -23.2% -15.1% 3.7% 14.4%
1 Year Return vs Industry and Market
  • OCSI underperformed the Capital Markets industry which returned -14.1% over the past year.
  • OCSI underperformed the Market in United States of America which returned -15.1% over the past year.
Price Volatility
OCSI
Industry
5yr Volatility vs Market

Value

 Is Oaktree Strategic Income undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Oaktree Strategic Income to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Oaktree Strategic Income.

NasdaqGS:OCSI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $9.91 * 3.3%
$0.32
Book Value of Equity per Share Median Book Value from the past 5 years. $9.91
Discount Rate (Cost of Equity) See below 7.9%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:OCSI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 5.4%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.745 (1 + (1- 21%) (199.04%))
1.125
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.13
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (1.125 * 5.44%)
7.86%

Discounted Cash Flow Calculation for NasdaqGS:OCSI using Excess Returns Model Model

The calculations below outline how an intrinsic value for Oaktree Strategic Income is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NasdaqGS:OCSI Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (3.3% – 7.86%) * $9.91)
$-0.45
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-0.45 / (7.86% - 1.74%)
$-7.42
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $9.91 + $-7.42
$2.49
NasdaqGS:OCSI Discount to Share Price
Calculation Result
Value per share (USD) From above. $2.49
Current discount Discount to share price of $5.22
= -1 x ($5.22 - $2.49) / $2.49
-109.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Oaktree Strategic Income is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Oaktree Strategic Income's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Oaktree Strategic Income's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:OCSI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $0.89
NasdaqGS:OCSI Share Price ** NasdaqGS (2020-04-03) in USD $5.22
United States of America Capital Markets Industry PE Ratio Median Figure of 92 Publicly-Listed Capital Markets Companies 33.79x
United States of America Market PE Ratio Median Figure of 2,947 Publicly-Listed Companies 12.4x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Oaktree Strategic Income.

NasdaqGS:OCSI PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:OCSI Share Price ÷ EPS (both in USD)

= 5.22 ÷ 0.89

5.85x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Oaktree Strategic Income is good value based on earnings compared to the US Capital Markets industry average.
  • Oaktree Strategic Income is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Oaktree Strategic Income's expected growth come at a high price?
Raw Data
NasdaqGS:OCSI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.85x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
-12%per year
United States of America Capital Markets Industry PEG Ratio Median Figure of 36 Publicly-Listed Capital Markets Companies 2.07x
United States of America Market PEG Ratio Median Figure of 2,010 Publicly-Listed Companies 0.89x

*Line of best fit is calculated by linear regression .

NasdaqGS:OCSI PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 5.85x ÷ -12%

-0.49x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Oaktree Strategic Income earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Oaktree Strategic Income's assets?
Raw Data
NasdaqGS:OCSI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $9.71
NasdaqGS:OCSI Share Price * NasdaqGS (2020-04-03) in USD $5.22
United States of America Capital Markets Industry PB Ratio Median Figure of 182 Publicly-Listed Capital Markets Companies 7.67x
United States of America Market PB Ratio Median Figure of 5,144 Publicly-Listed Companies 1.2x
NasdaqGS:OCSI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:OCSI Share Price ÷ Book Value per Share (both in USD)

= 5.22 ÷ 9.71

0.54x

* Primary Listing of Oaktree Strategic Income.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Oaktree Strategic Income is good value based on assets compared to the US Capital Markets industry average.
X
Value checks
We assess Oaktree Strategic Income's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Oaktree Strategic Income has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Oaktree Strategic Income expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-12%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Oaktree Strategic Income expected to grow at an attractive rate?
  • Oaktree Strategic Income's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 1.7%.
Growth vs Market Checks
  • Oaktree Strategic Income's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Oaktree Strategic Income's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:OCSI Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:OCSI Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts -12%
NasdaqGS:OCSI Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 0.2%
United States of America Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 5.3%
United States of America Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 2.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.4%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:OCSI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:OCSI Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-09-30 49 20 2
2020-09-30 47 20 2
2020-04-05
NasdaqGS:OCSI Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 50 -23 26
2019-09-30 50 -4 7
2019-06-30 52 -38 12
2019-03-31 50 -47 11
2018-12-31 48 -20 6
2018-09-30 48 -18 21
2018-06-30 45 26 -2
2018-03-31 45 23 -4
2017-12-31 46 23 -8
2017-09-30 47 67 -9
2017-06-30 48 61 14
2017-03-31 49 58 15

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Oaktree Strategic Income's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Oaktree Strategic Income's revenue is expected to grow by 0.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:OCSI Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Oaktree Strategic Income Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:OCSI Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-09-30 0.69 0.72 0.66 2.00
2020-09-30 0.69 0.73 0.64 2.00
2020-04-05
NasdaqGS:OCSI Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 0.89
2019-09-30 0.24
2019-06-30 0.42
2019-03-31 0.36
2018-12-31 0.19
2018-09-30 0.70
2018-06-30 -0.07
2018-03-31 -0.13
2017-12-31 -0.26
2017-09-30 -0.30
2017-06-30 0.48
2017-03-31 0.51

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Oaktree Strategic Income will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Oaktree Strategic Income's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Oaktree Strategic Income has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Oaktree Strategic Income performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Oaktree Strategic Income's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Oaktree Strategic Income's year on year earnings growth rate has been positive over the past 5 years.
  • Oaktree Strategic Income's 1-year earnings growth exceeds its 5-year average (372.6% vs 4.6%)
  • Oaktree Strategic Income's earnings growth has exceeded the US Capital Markets industry average in the past year (372.6% vs 9.7%).
Earnings and Revenue History
Oaktree Strategic Income's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Oaktree Strategic Income Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:OCSI Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 49.97 26.31 14.24
2019-09-30 49.63 6.97 13.96
2019-06-30 52.27 12.34 14.37
2019-03-31 50.13 10.58 13.70
2018-12-31 48.20 5.57 13.27
2018-09-30 47.67 20.67 13.52
2018-06-30 44.77 -2.15 13.50
2018-03-31 45.28 -3.74 13.72
2017-12-31 45.74 -7.59 13.58
2017-09-30 46.57 -8.77 13.63
2017-06-30 47.95 14.29 14.29
2017-03-31 48.90 15.07 15.23
2016-12-31 51.07 9.57 17.37
2016-09-30 53.43 -4.46 18.54
2016-06-30 54.29 -12.76 18.69
2016-03-31 55.32 -11.23 17.07
2015-12-31 53.46 -3.88 15.34
2015-09-30 51.47 15.91 14.24
2015-06-30 40.36 20.26 11.68
2015-03-31 30.07 19.60 10.24
2014-12-31 22.13 14.62 8.08
2014-09-30 12.52 9.36 5.20
2013-09-30 1.83 2.81 1.76

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Oaktree Strategic Income has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Oaktree Strategic Income used its assets more efficiently than the US Capital Markets industry average last year based on Return on Assets.
  • Oaktree Strategic Income has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Oaktree Strategic Income's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Oaktree Strategic Income has a total score of 5/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Oaktree Strategic Income's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Oaktree Strategic Income's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Oaktree Strategic Income's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Oaktree Strategic Income's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Oaktree Strategic Income's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Oaktree Strategic Income Company Filings, last reported 3 months ago.

NasdaqGS:OCSI Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 286.02 306.16 9.53
2019-09-30 284.45 294.66 5.65
2019-06-30 286.02 308.26 4.07
2019-03-31 287.11 307.66 2.85
2018-12-31 277.98 262.16 6.89
2018-09-30 295.75 275.06 10.44
2018-06-30 291.95 258.55 13.30
2018-03-31 294.50 257.98 23.63
2017-12-31 289.94 251.91 39.98
2017-09-30 293.64 260.73 35.60
2017-06-30 313.70 266.16 19.26
2017-03-31 319.16 275.39 41.29
2016-12-31 319.92 249.82 36.21
2016-09-30 325.83 289.90 19.78
2016-06-30 323.87 295.83 15.07
2016-03-31 329.58 292.95 28.82
2015-12-31 334.66 291.56 13.15
2015-09-30 356.81 323.03 41.43
2015-06-30 360.33 307.37 66.44
2015-03-31 367.03 280.10 72.31
2014-12-31 369.32 184.85 10.18
2014-09-30 372.68 0.00 107.43
2013-09-30 100.84 0.00 52.35
  • Oaktree Strategic Income's level of debt (107%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (50.3% vs 107% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are not well covered by earnings (EBIT is 2.4x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Oaktree Strategic Income's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Oaktree Strategic Income has a total score of 0/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Oaktree Strategic Income's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
11.88%
Current annual income from Oaktree Strategic Income dividends. Estimated to be 11.88% next year.
If you bought $2,000 of Oaktree Strategic Income shares you are expected to receive $238 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Oaktree Strategic Income's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (2.05%).
  • Oaktree Strategic Income's dividend is above the markets top 25% of dividend payers in United States of America (5.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:OCSI Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
United States of America Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 44 Stocks 2.6%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1938 Stocks 3.1%
United States of America Minimum Threshold Dividend Yield 10th Percentile 1.1%
United States of America Bottom 25% Dividend Yield 25th Percentile 2.1%
United States of America Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:OCSI Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-09-30 0.62 2.00
2020-09-30 0.62 2.00
2020-04-05
NasdaqGS:OCSI Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-02-06 0.620 8.973
2019-08-07 0.620 7.550
2018-11-29 0.630 7.559
2018-05-08 0.560 6.622
2018-02-09 0.560 7.072
2017-12-11 0.760 9.104
2017-12-01 0.760 9.085
2017-02-09 0.760 8.994
2016-12-14 0.900 9.664
2016-08-09 0.900 10.299
2016-01-13 0.900 11.596
2015-12-01 0.900 11.009
2015-08-10 1.200 13.606
2014-11-26 1.200 11.716
2014-09-12 1.200 10.675
2014-05-16 1.200 8.802
2014-02-13 1.080 7.560
2014-01-27 0.920 6.735
2013-11-25 0.840 6.276

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Oaktree Strategic Income has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Oaktree Strategic Income has only been paying a dividend for 6 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Oaktree Strategic Income's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.4x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Oaktree Strategic Income's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Oaktree Strategic Income afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Oaktree Strategic Income has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Oaktree Strategic Income's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Armen Panossian
AGE 42
CEO Bio

Mr. Armen Panossian, J.D. serves as Chief Executive Officer and Chief Investment Officer at Oaktree Specialty Lending Corporation since September 30, 2019. He serves as Chairman of the Board, Chief Executive Officer, Chief Investment Officer and Director at Oaktree Strategic Income II, Inc. since September 30, 2019. He serves as Chief Executive Officer and Chief Investment Officer at Oaktree Strategic Income Corporation. He serves as a Head of Liquid Credit since May 2019, Managing Director and Portfolio Manager at Oaktree Capital Management, L.P. As Portfolio Manager he looks after for Oaktree’s U.S. Senior Loan strategy. He also oversees the firm’s Structured Credit, U.S., European and Global High Yield Bond, European Senior Loan, and U.S., Non-U.S. and High Income Convertibles strategies. Mr. Panossian joined the Oaktree Capital Management, L.P. in 2007 as a Member of the Distressed and Value Opportunities team where he contributed to the analysis and portfolio construction of its funds. He is currently a part of United States Senior Loans. as a senior member of its Distressed Debt investment team. In January 2014, Mr. Panossian joined the U.S. Senior Loan team as a Co-Portfolio Manager and lead the development of Oaktree’s CLO business. He joined the firm from Pequot Capital Management, where he spent three years and served as a Vice President, working on their distressed debt strategy. Mr. Panossian's prior experience includes two years as a Financial Analyst in the Mergers and Acquisitions Department at Morgan Stanley Dean Witter. He received a B.A. degree in Economics with honors and distinction from Stanford University, where he was elected to Phi Beta Kappa. Mr. Panossian then went on to receive an M.S. degree in Health Service Research from Stanford Medical School and J.D. and M.B.A. degrees from Harvard Law School and Harvard Business School, respectively. He is fluent in Armenian and proficient in Spanish.

CEO Compensation
  • Insufficient data for Armen to compare compensation growth.
  • Insufficient data for Armen to establish whether their remuneration is reasonable compared to companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Oaktree Strategic Income management team in years:

2.2
Average Tenure
50
Average Age
  • The tenure for the Oaktree Strategic Income management team is about average.
Management Team

Armen Panossian

TITLE
CEO & Chief Investment Officer
AGE
42

Matt Pendo

TITLE
President & COO
AGE
55
TENURE
0.7 yrs

Mel Carlisle

TITLE
CFO & Treasurer
AGE
50
TENURE
2.5 yrs

Kim Larin

TITLE
Chief Compliance Officer
AGE
50
TENURE
2.5 yrs

Robyn Friedman

TITLE
Head of Investor Relations and Senior Vice President

Grant Nachman

TITLE
Senior Vice President
TENURE
2.3 yrs

Raghav Khanna

TITLE
Senior Vice President
AGE
35
TENURE
2.3 yrs

Eric Johnson

TITLE
Managing Director
TENURE
2.1 yrs

Aman Kumar

TITLE
Senior Vice President
TENURE
2.1 yrs

Nilay Mehta

TITLE
Senior Vice President
TENURE
2.1 yrs
Board of Directors Tenure

Average tenure and age of the Oaktree Strategic Income board of directors in years:

2.5
Average Tenure
62
Average Age
  • The average tenure for the Oaktree Strategic Income board of directors is less than 3 years, this suggests a new board.
Board of Directors

John Frank

TITLE
Chairman of the Board
AGE
62
TENURE
2.5 yrs

Craig Jacobson

TITLE
Independent Director
COMPENSATION
$100K
AGE
66
TENURE
2.5 yrs

Richard Ruben

TITLE
Independent Director
COMPENSATION
$100K
AGE
63
TENURE
2.5 yrs

Bruce Zimmerman

TITLE
Lead Independent Director
COMPENSATION
$120K
AGE
61
TENURE
2.3 yrs

Deborah Gero

TITLE
Independent Director
COMPENSATION
$57K
AGE
59
TENURE
1.1 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Oaktree Strategic Income individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
16. Mar 20 Buy Craig Jacobson Individual 12. Mar 20 12. Mar 20 14,345 $6.97 $99,982
16. Mar 20 Buy Deborah Gero Individual 13. Mar 20 13. Mar 20 1,000 $7.10 $7,099
11. Mar 20 Buy Mel Carlisle Individual 09. Mar 20 09. Mar 20 1,500 $7.92 $11,880
11. Mar 20 Buy Richard Ruben Individual 10. Mar 20 10. Mar 20 10,000 $7.68 $76,768
11. Mar 20 Buy Mathew Pendo Individual 10. Mar 20 10. Mar 20 4,000 $7.61 $30,437
27. Feb 20 Buy Mel Carlisle Individual 25. Feb 20 25. Feb 20 5,000 $8.28 $41,400
25. Feb 20 Buy Deborah Gero Individual 21. Feb 20 21. Feb 20 2,000 $8.33 $16,663
24. Feb 20 Sell Fifth Street Holdings L.P. Company 20. Feb 20 21. Feb 20 -14,017 $8.37 $-117,234
20. Feb 20 Sell Fifth Street Holdings L.P. Company 18. Feb 20 19. Feb 20 -13,348 $8.40 $-112,064
18. Feb 20 Sell Fifth Street Holdings L.P. Company 13. Feb 20 14. Feb 20 -14,454 $8.38 $-120,938
13. Feb 20 Sell Fifth Street Holdings L.P. Company 11. Feb 20 12. Feb 20 -19,599 $8.37 $-163,948
11. Feb 20 Sell Fifth Street Holdings L.P. Company 07. Feb 20 10. Feb 20 -17,388 $8.37 $-145,412
07. Feb 20 Sell Fifth Street Holdings L.P. Company 05. Feb 20 06. Feb 20 -7,095 $8.36 $-59,294
27. Jan 20 Sell Fifth Street Holdings L.P. Company 23. Jan 20 23. Jan 20 -600 $8.35 $-5,011
23. Jan 20 Sell Fifth Street Holdings L.P. Company 21. Jan 20 22. Jan 20 -10,000 $8.35 $-83,535
21. Jan 20 Sell Fifth Street Holdings L.P. Company 16. Jan 20 17. Jan 20 -4,143 $8.36 $-34,630
16. Jan 20 Sell Fifth Street Holdings L.P. Company 14. Jan 20 15. Jan 20 -2,001 $8.36 $-16,714
14. Jan 20 Sell Fifth Street Holdings L.P. Company 10. Jan 20 13. Jan 20 -6,187 $8.35 $-51,685
19. Dec 19 Sell Fifth Street Holdings L.P. Company 18. Dec 19 18. Dec 19 -500,000 $8.26 $-4,130,000
19. Dec 19 Sell Fifth Street Holdings L.P. Company 17. Dec 19 17. Dec 19 -5,631 $8.36 $-47,094
16. Dec 19 Buy Deborah Gero Individual 12. Dec 19 12. Dec 19 2,000 $8.28 $16,557
13. Dec 19 Sell Fifth Street Holdings L.P. Company 11. Dec 19 12. Dec 19 -11,300 $8.35 $-94,322
13. Dec 19 Buy Mathew Pendo Individual 11. Dec 19 11. Dec 19 3,600 $8.35 $30,060
10. Dec 19 Sell Fifth Street Holdings L.P. Company 06. Dec 19 09. Dec 19 -13,956 $8.36 $-116,581
09. Dec 19 Buy Armen Panossian Individual 05. Dec 19 05. Dec 19 6,000 $8.25 $49,520
06. Dec 19 Sell Fifth Street Holdings L.P. Company 04. Dec 19 04. Dec 19 -1,637 $8.25 $-13,510
29. Nov 19 Sell Fifth Street Holdings L.P. Company 26. Nov 19 26. Nov 19 -10 $8.25 $-83
26. Nov 19 Buy Deborah Gero Individual 22. Nov 19 22. Nov 19 3,000 $8.24 $24,701
25. Nov 19 Sell Fifth Street Holdings L.P. Company 22. Nov 19 25. Nov 19 -1,060 $8.25 $-8,745
02. Oct 19 Sell Fifth Street Holdings L.P. Company 27. Sep 19 01. Oct 19 -21,156 $8.26 $-174,706
27. Sep 19 Sell Fifth Street Holdings L.P. Company 25. Sep 19 26. Sep 19 -4,193 $8.25 $-34,610
07. Jun 19 Buy Deborah Gero Individual 06. Jun 19 06. Jun 19 2,000 $8.54 $17,080
23. May 19 Sell Fifth Street Holdings L.P. Company 21. May 19 23. May 19 -234,214 $8.50 $-1,990,962
20. May 19 Sell Fifth Street Holdings L.P. Company 17. May 19 20. May 19 -12,845 $8.51 $-109,299
16. May 19 Buy Deborah Gero Individual 14. May 19 14. May 19 2,000 $8.48 $16,959
13. May 19 Sell Fifth Street Holdings L.P. Company 09. May 19 10. May 19 -10,750 $8.52 $-91,542
09. May 19 Sell Fifth Street Holdings L.P. Company 07. May 19 07. May 19 -385 $8.62 $-3,319
07. May 19 Sell Fifth Street Holdings L.P. Company 03. May 19 06. May 19 -5,856 $8.65 $-50,571
03. May 19 Sell Fifth Street Holdings L.P. Company 01. May 19 02. May 19 -18,200 $8.64 $-157,075
01. May 19 Sell Fifth Street Holdings L.P. Company 29. Apr 19 30. Apr 19 -3,218 $8.64 $-27,792
X
Management checks
We assess Oaktree Strategic Income's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Oaktree Strategic Income has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

What You Must Know About Oaktree Strategic Income Corporation's (OCSI) 4.48% ROE

Return on Equity = Net Profit ÷ Shareholders Equity ROE is assessed against cost of equity, which is measured using the Capital Asset Pricing Model (CAPM) – but let’s not dive into the details of that today. … ROE can be dissected into three distinct ratios: net profit margin, asset turnover, and financial leverage. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity NasdaqGS:OCSI Last Perf Dec 2nd 17 The first component is profit margin, which measures how much of sales is retained after the company pays for all its expenses.

Simply Wall St -

Company Info

Description

Fifth Street Senior Floating Rate Corp. is a business development company specializing in providing financing solutions in the form of floating rate senior secured loans to mid-sized companies.

Details
Name: Oaktree Strategic Income Corporation
OCSI
Exchange: NasdaqGS
Founded: 2013
$153,816,528
29,466,768
Website: http://www.oaktreecapital.com
Address: Oaktree Strategic Income Corporation
333 South Grand Avenue,
28th Floor,
Los Angeles,
California, 90071,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS OCSI Common Stock Nasdaq Global Select US USD 15. Jul 2013
Number of employees
Current staff
Staff numbers
0
Oaktree Strategic Income employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/05 00:42
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2020/04/01
Last earnings filing: 2020/02/06
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/09/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.