Oxford Square Capital (OXSQ) Q2 2026: EPS Beat Hides a Collapsing NAV
As seen on the 24/7 Wall St. homepage on July 31, 2026.
Double beat masks a sobering reality: NAV per share collapsed from $2.06 to $1.29 year-over-year as the closed-end fund diluted shareholders with 11.3 million new shares while posting $5.2 million in realized losses.
Continue ReadingShow less
Oxford Square Capital Corp. posted Q2 2026 earnings per share of $0.05, topping the $0.04 consensus estimate by 25%, while revenue of roughly $9.4 million came in about 13% above the $8.3 million expectation. On the surface, that looks like a clean double beat — but the headline numbers obscure a much more troubled picture underneath.
The fund's net asset value per share fell sharply from $2.06 to $1.29 year-over-year, a decline that coincides with Oxford Square issuing 11.3 million new shares. That dilution effectively spread the fund's assets across a larger share count, compressing the value each existing shareholder holds. Adding to the pressure, the fund recorded $5.2 million in realized losses during the period.
Disclosure
*$149 for two years (or $1.43 per week) is an introductory promotion for new members only. 62% discount based on the current list price of Stock Advisor of $199/year. Membership will renew at the then-current list price at the end of the membership term. Stock Advisor returns are 930% as compared to the S&P 500 returns of 185% as of April 7, 2026.
The same investor newsletter that told subscribers to buy Amazon in 2002, Netflix in 2004, and Nvidia in 2005 still publishes two new stock picks every month. Over 23 years, Motley Fool's Stock Advisor has more than quadrupled the S&P 500. New members get this month's picks, the Top 10 Rankings, and a 30-day money-back guarantee. Click here to unlock their next top stocks while new members are still being accepted.
Looking at the recent EPS trend, the trajectory has been steadily downward — from $0.10 reported in Q3 2024 down to $0.05 in each of the last two quarters. The Q1 2026 result also missed its $0.07 estimate, meaning the Q2 beat arrives after a period of deteriorating earnings power. Investors watching OXSQ will want to monitor whether NAV stabilizes and whether the pace of share issuance continues.