The continued decline in NAV and rising unrealized losses suggest ongoing portfolio stress, particularly in CLO equity holdings. The ATM issuance indicates capital raising amid deterioration, which may pressure shares further. Monitor next quarter's NAV trend and non-accrual exposure.
Price Chart
Executive Summary
Oxford Square Capital Corp. reported a decline in net asset value from $2.30 to $1.69 per share and a net decrease in net assets of $12.9 million for Q4 2025, driven by $16.0 million in unrealized depreciation and $2.3 million in realized losses. While net investment income remained stable at $0.07 per share, the significant drop in NAV and negative operating performance signal material portfolio deterioration.
Key Financial Metrics
Key Facts
- NAV per share declined from $2.30 (Dec 31, 2024) to $1.69 (Dec 31, 2025), a 26.5% drop
- Net decrease in net assets from operations was $12.9 million in Q4 2025
- Unrealized depreciation of $16.0 million and realized losses of $2.3 million in Q4
- Net investment income was $5.4 million ($0.07/share), flat vs prior quarter
- Issued 4.3 million shares in ATM offering, raising $7.9 million in net proceeds
- CLO equity investment yield dropped to 8.6% from 9.7% (QoQ)
- $5.0 million in preferred equity investments on non-accrual status
Financial Impact
NAV down 26.5% YoY; $18.7 million net loss for full year 2025; $16M unrealized depreciation in Q4 alone
Risk Factors
- Continued deterioration in CLO equity and debt portfolio valuations
- Further NAV erosion leading to potential regulatory or leverage constraints
- Dilution from ongoing ATM share issuances
Market Snapshot
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3248309 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 4d ago | Press Release | $1.18 | awaiting T+60 | — | $1.18 (−0.00%) |
Jul 31, 2026 12w ago | 8-K | $1.41 $1.22 | ▲ +13.40% | ▲ +15.18% | $1.18 (+16.20%) |
Jul 31, 2026 12w ago | 8-K | $1.55 $1.18 | ▲ +23.87% | ▲ +26.33% | $1.18 (+23.87%) |
Jul 31, 2026 12w ago | Press Release | $1.55 $1.18 | ▲ +23.87% | ▲ +26.33% | $1.18 (+23.87%) |
May 21, 2026 22w ago | Insider Cluster | $1.38 $1.42 | ▲ +2.90% | ▼ −1.40% | $1.18 (−14.49%) |
Apr 29, 2026 25w ago | Press Release | $1.59 $1.31 | ▲ +17.87% | ▲ +22.00% | $1.18 (+25.80%) |
Apr 22, 2026 26w ago | Press Release | $1.64 $1.36 | ▼ −17.08% | ▼ −22.97% | $1.18 (−28.15%) |
Mar 3, 2026 34w ago | Press Release | $1.75 $1.32 | ▲ +24.60% | ▲ +34.91% | $1.18 (+32.59%) |
US Market Status
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