Oaktree Specialty Lending (STU:FFC) Cyclically Adjusted PB Ratio: (As of Aug. 06, 2026)

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Director of Data and Quant Analytics at GuruFocus
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STU:FFC Oaktree Specialty Lending Corp STU:FFC
55 GF Score
Price €10.41
GF Value €11.51
Valuation Modestly Undervalued
! 4 Warning Signs
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What is Oaktree Specialty Lending Cyclically Adjusted PB Ratio?

Shiller PE for Stocks: The True Measure of Stock Valuation


Oaktree Specialty Lending  (STU:FFC) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


Oaktree Specialty Lending Cyclically Adjusted PB Ratio Related Terms


Oaktree Specialty Lending Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Oaktree Specialty Lending's Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Oaktree Specialty Lending Cyclically Adjusted PB Ratio Chart

Oaktree Specialty Lending Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.79 0.65 0.76 0.65 0.54

Oaktree Specialty Lending Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.56 0.54 0.54 0.48 0.00

STU:FFC vs CHY, ETW, CHI: Cyclically Adjusted PB Ratio Comparison

For the Asset Management subindustry, Oaktree Specialty Lending's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Oaktree Specialty Lending Cyclically Adjusted PB Ratio vs Asset Management Industry

For the Asset Management industry and Financial Services sector, Oaktree Specialty Lending's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Oaktree Specialty Lending's Cyclically Adjusted PB Ratio falls into.


STU:FFC
55GF Score
Oaktree Specialty Lending Corp STU:FFC
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Oaktree Specialty Lending Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

Oaktree Specialty Lending's Cyclically Adjusted Book per Share for the quarter that ended in Jun. 2026 is calculated as:

For example, Oaktree Specialty Lending's adjusted Book Value per Share data for the three months ended in Jun. 2026 was:

Adj_Book=Book Value per Share/CPI of Jun. 2026 (Change)*Current CPI (Jun. 2026)
=13.629/333.9520*333.9520
=13.629

Current CPI (Jun. 2026) = 333.9520.

Oaktree Specialty Lending Quarterly Data

Book Value per Share CPI Adj_Book
201609 21.313 241.428 29.481
201612 20.787 241.432 28.753
201703 20.290 243.801 27.793
201706 19.145 244.955 26.101
201709 15.493 246.819 20.962
201712 14.739 246.524 19.966
201803 14.278 249.554 19.107
201806 15.268 251.989 20.234
201809 15.650 252.439 20.703
201812 16.320 251.233 21.693
201903 17.393 254.202 22.850
201906 17.517 256.143 22.838
201909 17.984 256.759 23.391
201912 17.834 256.974 23.176
202003 14.488 258.115 18.745
202006 16.235 257.797 21.031
202009 16.531 260.280 21.210
202012 16.880 260.474 21.642
202103 17.868 264.877 22.528
202106 17.981 271.696 22.101
202109 18.561 274.310 22.597
202112 19.506 278.802 23.364
202203 19.781 287.504 22.977
202206 19.555 296.311 22.039
202209 20.581 296.808 23.157
202212 18.534 296.797 20.854
202303 18.359 301.836 20.312
202306 18.075 305.109 19.784
202309 18.391 307.789 19.954
202312 17.554 306.746 19.111
202403 17.227 312.332 18.419
202406 16.900 314.175 17.964
202409 16.299 315.301 17.263
202412 16.835 315.605 17.814
202503 15.490 319.799 16.176
202506 14.532 322.561 15.045
202509 14.178 324.800 14.577
202512 13.924 324.054 14.349
202603 13.572 330.213 13.726
202606 13.629 333.952 13.629

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

Is Oaktree Specialty Lending (STU:FFC) Overvalued in 2026?

Based on GuruFocus' analysis, Oaktree Specialty Lending stock appears to be undervalued. The current stock price of €10.41 is trading 9.6% below its estimated GF Value™ of €11.51. GuruFocus considers Oaktree Specialty Lending to be Modestly Undervalued.

Key valuation signals for STU:FFC:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: €11.51 vs. price of €10.41 (9.6% below fair value)
  • GF Score™: 55/100 with 4 warning signs

No single metric tells the full story. See the STU:FFC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Oaktree Specialty Lending Business Description

Other Exchanges OCSL:USAFFC:Germany
Address 333 South Grand Avenue, 28th Floor, Los Angeles, CA, USA, 90071
Oaktree Specialty Lending Corp is a specialty finance company. The company provides lending services and invests in small and mid-sized companies. The company's investment objective is to maximize its portfolio's total return by generating current income from debt investments, and to a lesser extent, capital appreciation from equity investments. The company provides customized, one-stop credit solutions to companies with limited access to public or syndicated capital markets. The company operates as a single reportable segment and derives revenues from investing in originated loans and other securities, including broadly syndicated loans, of U.S. private companies and manages the business on a consolidated basis.
55GF Score

Get the complete analysis for STU:FFC

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€10.41
Price
€11.51
GF Value