Private Credit Portfolio Analysis | Oxford Square Capital Corp. Reports FY 2024 Results
- Editor
- Mar 5
- 2 min read
Whats New:
Oxford Square Capital Corp. has reported its financial results for the fiscal year 2024, showing significant changes in its balance sheet. The fund's total assets increased to $299.73 million as of December 31, 2024, up from $277.67 million at the end of 2023. The net asset value (NAV) per share decreased to $2.30 from $2.55 at the end of the previous year.
Portfolio Dynamics:
Total assets grew to $299.73 million as of December 31, 2024, compared to $277.67 million at the end of 2023.
Cash and cash equivalents significantly increased to $34.93 million from $5.74 million at the end of 2023.
Interest receivable decreased to $2.72 million from $3.98 million at the end of 2023.
Investment Activty:
Securities loaned increased to $12.03 million from zero at the end of 2023.
The fund reported $1.23 million in other assets, up from $1.06 million at the end of 2023.
Realized investment losses were $96.24 million for the year 2024.
Capital Structure:
Total liabilities increased to $139.07 million from $126.36 million at the end of 2023.
Common stock value rose to $697,590 from $593,005 at the end of 2023.
Additional paid-in capital grew to $487.94 million from $458.12 million at the end of 2023.
Performance Profile:
Net asset value per share decreased to $2.30 as of December 31, 2024, compared to $2.55 at the end of 2023.
Retained earnings deficit increased to $327.98 million from $307.41 million at the end of 2023.
Net income for the year 2024 was $5.88 million.
Risk & Quality:
Base fee and net investment income incentive fee payable to affiliate increased to $1.22 million from $1.01 million.
Accrued liabilities decreased to $1.02 million from $1.16 million at the end of 2023.
Unrealized gain on investments was $75.68 million for the year 2024.
The Wrap:
Oxford Square Capital Corp. demonstrated mixed performance in fiscal year 2024, with an increase in total assets and cash position, but a decrease in net asset value per share. The fund experienced significant realized investment losses, offset partially by unrealized gains. While the capital structure showed growth in common stock value and additional paid-in capital, the retained earnings deficit widened. These results reflect the challenges and volatility in the private credit market during the reported period.
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