$Oaktree Specialty Lending (OCSL.US)$The main business is ac...

Net interest income has continued to grow for the past 4 years, and expenses have fluctuated greatly, so net profit has also fluctuated greatly. The average net profit for 5 years is 96 million yuan.

The balance ratio has increased from 44.7% to 52.9% over the past 5 years. Assets are mainly composed of investments, and liabilities are mainly composed of long-term loans. Long-term loans account for 49% of total assets and 104% of net assets.

The balance sheet is healthier than SVB because long-term loans are not overrun.

Currently, the price-earnings ratio is 38.6. If you calculate the average net profit of 96 million, the price-earnings ratio is 15, and the net price-earnings ratio is 1.2.

This kind of business model is actually quite new; you can put in some observation positions to test the water temperature.