Mission Statement, Vision, & Core Values (2024) of OFS Capital Corporation (OFS)

An Overview of OFS Capital Corporation (OFS)

General Summary of OFS Capital Corporation (OFS)

OFS Capital Corporation, a publicly traded business development company, specializes in providing customized financing solutions primarily to middle-market companies. Founded in 2014, OFS has established a robust portfolio that includes first lien debt, second lien debt, and equity investments across various sectors, focusing on healthcare, technology, and services industries.

As of 2024, OFS Capital Corporation reported total assets of approximately $418.5 million, with net assets totaling $151.3 million. The company had 13,398,078 shares of common stock issued and outstanding, with a net asset value (NAV) per share of $11.29 as of September 30, 2024.

Company's Financial Performance in the Latest Financial Reports

For the three months ended September 30, 2024, OFS Capital Corporation reported a net investment income of $3.6 million, or $0.27 per share, compared to $5.4 million, or $0.40 per share, for the same period in 2023. The company's total investment income decreased to $10.9 million from $14.7 million in the prior year.

During the nine months ended September 30, 2024, OFS recorded a net loss on investments of $9.7 million, primarily due to net unrealized depreciation of $8.7 million on debt investments. In contrast, the previous year showed a net loss of $11.6 million for the same period.

As of September 30, 2024, the company had total outstanding debt of $249.1 million, with a weighted average interest cost of 6.46%. Approximately 72% of this debt carries fixed interest rates.

Introduction to Company as a Leader in the Industry

OFS Capital Corporation stands out as a prominent player in the business development sector, specializing in providing flexible financing solutions tailored for middle-market companies. The company’s strategic focus on diverse industries, including healthcare, technology, and business services, allows it to maintain a competitive edge in the market.

With a disciplined investment approach and a commitment to generating strong returns, OFS has built a reputation for excellence in capital management. The company’s asset coverage ratio of 161% as of September 30, 2024, exceeds the minimum requirement of 150% under the 1940 Act, showcasing its financial strength and compliance with regulatory standards.

As OFS continues to navigate the evolving economic landscape, its focus on sustainable growth and value creation positions it well for future success in the industry.

Mission Statement of OFS Capital Corporation (OFS)

Mission Statement Overview

OFS Capital Corporation (OFS) is committed to delivering high-quality financial services and investment opportunities. The mission statement serves as a guiding principle for the company's operations and long-term objectives, emphasizing the importance of integrity, innovation, and customer satisfaction in all endeavors.

Core Component 1: Quality Service Delivery

The first core component of OFS's mission statement focuses on the commitment to quality service delivery. This includes providing tailored financial solutions that meet the diverse needs of clients.

As of September 30, 2024, OFS reported a net investment income of $12.636 million, reflecting their dedication to generating sustainable returns for stakeholders. The company aims to maintain high standards in service delivery, ensuring that clients receive expert guidance and support throughout their investment journey.

Core Component 2: Integrity and Transparency

Integrity and transparency form the backbone of OFS's operations. The company emphasizes ethical practices in all business dealings, fostering trust among its clients and partners.

OFS's financial reports reflect a commitment to transparency, with total net assets reported at $151.305 million as of September 30, 2024. This figure highlights the company's sound financial management and dedication to maintaining clear communication with investors regarding their financial health and investment strategies.

Core Component 3: Commitment to Innovation

The third core component of OFS's mission statement is a commitment to innovation. The company continuously seeks to enhance its investment strategies and financial products to adapt to changing market dynamics.

In recent financial disclosures, OFS reported a total of $394.734 million in investments at fair value. This figure underscores the company's proactive approach to identifying and capitalizing on new investment opportunities, ensuring they remain competitive in a rapidly evolving financial landscape.

OFS Capital Corporation's mission statement encapsulates its core values and strategic objectives, driving the company towards sustained growth and success in the financial sector.

Vision Statement of OFS Capital Corporation (OFS)

Vision Statement Overview

OFS Capital Corporation (OFS) aims to enhance value for its stakeholders through strategic investments in various sectors, focusing on long-term growth and sustainability.

Commitment to Stakeholders

OFS is dedicated to delivering consistent and superior investment returns. As of September 30, 2024, the company reported a net investment income of $12.636 million, down from $15.463 million in the same period of the previous year.

Focus on Sustainable Growth

The company emphasizes sustainable practices in its investment strategy. For the nine months ended September 30, 2024, OFS reported total investment income of $36.316 million, reflecting a focus on investments that align with sustainable growth.

Investment Diversification

OFS Capital Corporation maintains a diversified portfolio across multiple sectors. As of September 30, 2024, the fair value of non-control/non-affiliate investments was $308.866 million, while affiliate investments stood at $85.868 million.

Financial Stability

The firm aims to uphold financial stability, with total net assets reported at $151.305 million as of September 30, 2024, compared to $162.004 million at the end of 2023.

Long-term Vision and Strategy

OFS is focused on creating long-term value through strategic capital allocation. The net asset value per share decreased to $11.29 as of September 30, 2024, from $12.09 at the end of 2023.

Core Values of OFS Capital Corporation (OFS)

Integrity

Integrity is a foundational value at OFS Capital Corporation (OFS) that underscores the importance of ethical behavior and transparency in all business dealings. This commitment is reflected in the company’s adherence to rigorous compliance standards and ethical guidelines.

In 2023, OFS implemented a new comprehensive training program for all employees, focusing on ethics and compliance, which increased employee engagement in ethical practices by 30% as measured by internal surveys. The company also maintained a compliance rating of 98% in its audits, demonstrating its dedication to integrity.

Accountability

Accountability is central to OFS's corporate culture, ensuring that all team members take responsibility for their actions and decisions. This value fosters a sense of ownership among employees and strengthens trust with stakeholders.

For example, in Q3 2024, OFS adopted a new performance management system that ties individual performance metrics directly to company objectives. As a result, the company reported a 15% increase in overall productivity and a 25% reduction in project delays compared to the previous year.

Collaboration

Collaboration at OFS is about fostering teamwork and building strong relationships both internally and externally. The company believes that diverse perspectives lead to better decision-making and innovative solutions.

OFS has established cross-functional teams to enhance communication and cooperation across departments. In 2024, these teams successfully launched three major projects that contributed to a 20% increase in revenue compared to the previous year. The collaborative approach has also improved employee satisfaction scores by 40% in the latest internal survey.

Innovation

Innovation is a core value that drives OFS to continuously seek new ways to enhance its services and operations. The company invests significantly in technology and research to remain competitive in the market.

In 2024, OFS allocated $5 million to develop a new investment analytics platform, which is projected to improve decision-making speed by 50%. Additionally, the introduction of AI-driven tools has reduced operational costs by 15%, showcasing OFS's commitment to leveraging innovation for growth.

Customer Focus

Customer Focus is paramount at OFS, emphasizing the importance of understanding and meeting the needs of clients. The company strives to build long-term relationships and deliver exceptional service.

In 2023, OFS launched a client feedback initiative that resulted in a 35% increase in customer satisfaction scores. Furthermore, the company achieved a Net Promoter Score (NPS) of 75, indicating a strong loyalty among its customer base.

Article updated on 8 Nov 2024

Resources:

• OFS Capital Corporation (OFS) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of OFS Capital Corporation (OFS)' financial performance, including balance sheets, income statements, and cash flow statements.
• SEC Filings – View OFS Capital Corporation (OFS)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.