OFS Capital Corporation
Description
OFS Capital Corporation is a business development company specializing in direct and fund investments as well as add-on acquisitions. It provides flexible capital solutions primarily through debt capital and to a lesser extent, minority equity investments serving the needs of U.S.-based middle-market companies across a broad array of industries. It does not invest in operational turnarounds or start-up businesses. For direct, it specializes in debt and structured equity investments, recapitalizations and refinancing, management and leveraged buyouts, acquisition financings, ownership transition, shareholder liquidity events, growth capital, independent sponsor transactions, ESOPs, and minority investments in the lower middle market companies. It invests in the aerospace and defense, business services, consumer products and services, construction & building, durable goods, capital equipment, automotive, food and beverage, healthcare & pharmaceutical, specialty chemicals, transportation cargo and logistics, value added distribution, franchising, and industrial and niche manufacturing sectors. The firm invests in companies based in United States. It seeks to invest between $3 million and $35 million, revenues between $15 million and $300 million, annual EBITDA between $5 million and $50 million, and Enterprise value between $10 million and $500 million. The firm seeks to invest in companies with debt investment values between $5 million and $25 million. The fund uses senior secured, unitranche loans, first-lien, second lien, subordinated/ mezzanine loans, warrants, and preferred equity securities and common equity securities. It prefers to take a minority as well as majority stake in the investments made. It also co-invests with its partners for additional capital.
About
CEO
Mr. Bilal Rashid
Employees
51
Instrument type
Common Stock
Sector
Financial Services
Industry
Asset Management
MIC code
XNGS
Address
10 South Wacker Drive, Chicago, IL 60606, United States
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Oscillators
No data available
Summary
No data available
Moving Averages
No data available
Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Oct 29, 2025 | — | — | — | — |
| Jul 30, 2025 | — | — | — | — |
| May 1, 2025 | — | — | — | — |
| Mar 3, 2025 | 0.25 | — | — | — |
| Nov 1, 2024 | 0.26 | 0.27 | 0.01 | 3.85% |
Earnings estimate
|
Next Quarter
(Mar 2025)
|
Next Year
(Dec 2025)
|
|||
|---|---|---|---|---|
| Number of analysts | — | 1 | — | 1 |
| Average estimate | — | 0.35 | — | 1.01 |
| Low estimate | — | 0.35 | — | 1.01 |
| High estimate | — | 0.35 | — | 1.01 |
| Last year EPS | — | 0.42 | — | 1.17 |
[stock_revenue_estimate]
Growth estimates
Current qtr
-34.290%
Next qtr. (Mar 2025)
-16.670%
Current year
-22.000%
Next year (Dec 2025)
-13.680%
Next 5 years (per annum)
—
Past 5 years (per annum)
—
Income statement
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total reported revenue | 4.79M | -4.33M | 68.23M | 10.33M | 14.12M |
| Cost of revenue | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| Operating expense | |||||
| Research & development | — | — | — | — | — |
| Selling general and admin | 5.04M | 3.11M | 6.78M | 5.18M | 4.56M |
| Other operating expenses | 213,000 | 144,000 | 4.59M | 1.46M | — |
| Operating income | — | — | — | — | — |
| Non operating interest income | |||||
| Income | — | — | — | — | — |
| Expense | — | — | — | — | — |
| Other income expense | — | — | — | — | — |
| Pretax income | -465,000 | -7.59M | 56.86M | 3.69M | 9.55M |
| Tax provision | — | — | — | — | — |
| Net income | -465,000 | -7.59M | 56.86M | 3.69M | 9.55M |
| Basic EPS | -0.04 | -0.57 | 4.24 | 0.28 | 0.71 |
| Diluted EPS | -0.04 | -0.57 | 4.24 | 0.28 | 0.71 |
| Basic average shares | 13.40M | 13.42M | 13.41M | 13.39M | 13.36M |
| Diluted average shares | 13.40M | 13.42M | 13.41M | 13.39M | 13.36M |
| EBITDA | — | — | — | — | — |
| Net income from continuing op. | -465,000 | -7.59M | 56.86M | 3.69M | 9.55M |
| Minority interests | — | — | — | — | — |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | — | — | — | — | — |
| Current assets | |||||
| Cash | 45.35M | 14.94M | 43.05M | 37.71M | — |
| Cash equivalents | — | — | — | — | — |
| Cash and cash equivalents | 45.35M | 14.94M | 43.05M | 37.71M | 13.45M |
| Other short term investments | — | — | — | — | — |
| Accounts receivable | — | — | — | — | — |
| Other receivables | — | — | — | — | — |
| Inventory | — | — | — | — | — |
| Prepaid assets | — | 3.00M | 2.53M | 2.48M | 4.46M |
| Restricted cash | — | — | — | — | — |
| Assets held for sale | — | — | — | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | — | — | — | — | — |
| Non current assets | |||||
| Properties | — | — | — | — | — |
| Land and improvements | — | — | — | — | — |
| Machinery furniture equipment | — | — | — | — | — |
| Construction in progress | — | — | — | — | — |
| Leases | — | — | — | — | — |
| Accumulated depreciation | — | — | — | — | — |
| Goodwill | — | — | — | — | — |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | — | — | — | — | — |
| Investments and advances | 420.29M | 500.58M | 507.10M | 442.32M | 516.93M |
| Other non current assets | — | — | — | — | — |
| Total liabilities | — | — | — | — | — |
| Current liabilities | |||||
| Accounts payable | 3.71M | 3.95M | 12.47M | 11.59M | 13.77M |
| Accrued expenses | — | — | — | — | — |
| Short term debt | — | — | — | — | — |
| Deferred revenue | — | — | — | — | — |
| Tax payable | — | — | — | — | — |
| Pensions | — | — | — | — | — |
| Other current liabilities | — | — | — | — | — |
| Non current liabilities | |||||
| Long term debt | 299.73M | 331.75M | 344.81M | 309.19M | 352.48M |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | — | — | — | — | — |
| Derivative product liabilities | — | — | — | — | — |
| Other non current liabilities | — | — | — | — | — |
| Shareholders equity | |||||
| Common stock | 134,000 | 134,000 | 134,000 | 134,000 | 134,000 |
| Retained earnings | -22.97M | -4.55M | 18.50M | -28.30M | -20.81M |
| Other shareholders equity | — | — | — | — | — |
| Total shareholders equity | 162.00M | 180.42M | 203.74M | 158.96M | 166.63M |
| Additional paid in capital | 184.84M | 184.84M | 185.11M | 187.12M | 187.31M |
| Treasury stock | — | — | — | — | — |
| Minority interest | — | — | — | — | — |
Cash flow statement
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||||
| Net Income | -465,000 | -7.59M | 56.86M | 3.69M | 9.55M | 9.57M | 7.91M | 13.83M | 18.23M | 9.94M | 7.68M | 6.22M | -2.19M | 5.24M | 3.26M |
| Depreciation | — | — | — | — | — | 195,000 | 195,000 | 195,000 | 195,000 | 209,000 | — | — | — | — | 59,000 |
| Deferred Taxes | — | — | — | — | — | — | — | — | — | — | — | — | — | — | -126,000 |
| Stock-Based Compensation | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Non-Cash Items | -13.25M | -11.63M | -6.59M | -5.80M | -4.60M | -3.45M | -3.63M | -3.29M | -2.36M | -859,000 | -3.03M | -3.55M | 1.23M | -471,000 | 1.49M |
| Accounts Receivable | -15,000 | 14.17M | -15.07M | 2.05M | -562,000 | -53,000 | -964,000 | -937,000 | -113,000 | -139,000 | 1.26M | -553,000 | -9,000 | 562,000 | -1.12M |
| Accounts Payable | — | — | — | — | — | 1.20M | -3,000 | 51,000 | 233,000 | 272,000 | -361,000 | -425,000 | — | -20,000 | -28,000 |
| Other Assets & Liabilities | 432,000 | -828,000 | 492,000 | 334,000 | 182,000 | 6.69M | 132,000 | 118,000 | -189,000 | 68,000 | 1.09M | 284,000 | 497,000 | -437,000 | — |
| Operating Cash Flow | -13.30M | -5.87M | 35.69M | 284,000 | 4.57M | 14.15M | 3.64M | 9.97M | 16.00M | 9.49M | 6.62M | 1.97M | -469,000 | 4.87M | 3.53M |
| Investing Activities | |||||||||||||||
| Capital Expenditures | — | — | — | — | — | — | — | — | — | — | — | — | — | — | -14,000 |
| Net Intangibles | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net Acquisitions | — | — | — | — | — | — | — | — | — | — | -6.89M | 8.87M | -1.96M | -411,000 | — |
| Purchase of Investments | — | — | — | — | — | — | — | — | — | — | — | — | -1.96M | -411,000 | -735,000 |
| Sale of Investments | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 35.83M |
| Investing Cash Flow | — | — | — | — | — | — | — | — | — | 450,000 | -6.72M | 8.76M | -9.61M | 65.22M | 37.90M |
| Financing Activities | |||||||||||||||
| Long-Term Debt Issuance | 26.55M | 59.45M | 320.86M | 110.45M | 204.25M | 191.95M | 44.70M | 9.50M | 23.80M | 121.48M | 64.90M | 14.00M | — | 36.26M | — |
| Long-Term Debt Payments | -59.75M | -73.75M | -290.60M | -155.21M | -107.53M | -102.10M | -36.60M | — | -73.83M | -56.53M | -55.17M | -65.65M | — | -113.21M | -106.33M |
| Other Financing Charges | — | — | — | — | — | — | — | — | — | 75,000 | — | -4.50M | -968,000 | 6.20M | -6.12M |
| Financing Cash Flow | -51.15M | -29.69M | 18.19M | -56.13M | 78.77M | 61.35M | 44.75M | -3.56M | -62.72M | 15.84M | 8.74M | -34.97M | -968,000 | -188.48M | -214.09M |
| Other Cash Details | |||||||||||||||
| End Cash Position | 45.35M | 14.94M | 43.05M | 37.71M | 13.45M | 38.17M | 72.95M | 17.66M | 32.71M | 12.45M | 28.57M | 8.27M | 814,000 | 942,000 | 7.37M |
| Income Tax Paid | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 3,000 |
| Interest Paid | — | — | — | — | — | 7.26M | 5.26M | 4.76M | 4.61M | — | — | — | — | 1.58M | 7.16M |
| Free Cash Flow | 81.57M | 2.95M | -12.01M | 80.63M | -101.64M | -101.09M | 10.67M | -11.32M | 83.74M | -65.21M | 29.18M | -27.31M | -606,000 | 3.47M | 6.63M |
Top Institutional Holders
| Holder | Date Reported | Shares | Value | % Held |
|---|---|---|---|---|
| First Trust Gallatin Specialty Finance & Financial Opportunities Fund | Nov 30, 2024 | 98,000 | 796,740 | 0.73% |
| ETFis Ser Tr I-Virtus Private Credit Strategy ETF | Oct 31, 2024 | 63,853 | 519,124 | 0.48% |
| High Income Securities Fund | Nov 30, 2024 | 49,360 | 401,296 | 0.37% |
| Blackstone Alternative Multi-Strategy Fund | Sep 30, 2024 | 1,900 | 15,447 | 0.01% |
Article
OFS Capital Corporation Announces Appointment of Kyle Spina as Chief Financial Officer and Treasurer
CHICAGO--(BUSINESS WIRE)--OFS Capital Corporation (Nasdaq: OFS) (“OFS Capital” or the “Company”), a business development company, announced today the appointment of Kyle Spina as Chief Financial Officer, effective March 31, 2025. Jeff Cerny announced his retirement from his role as Chief Financial Officer and Treasurer, but will continue in his role as a member of the Board of Directors of OFS Capital, and will work closely with Mr. Spina to ensure a smooth transition. Mr. Spina has more than 1.
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OFS Capital continues to underperform peers because of its limited portfolio strategy and rising non-accruals. The non-accrual rate has increased to 5.4%, indicating higher risk compared to peers like Main Street Capital, Ares Capital, and Blue Owl Capital. OFS trades at a 28.4% discount to NAV, but this discount is justified due to poor NAV growth and elevated risk profile.
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