Oakley Capital Investments (LON:OCI) Announces Quarterly Earnings Results

Key Points

• NAV increased 6% in the first half of 2026 to £1.29 billion, or 782p per share, driven mainly by £56 million in unrealized portfolio gains and earnings growth.
• Portfolio companies delivered strong performance, while management expects overall EBITDA growth of roughly 17%–18% when acquisitions are included. OCI also reported significant gains from AI-focused investments, including CuspAI.
• Liquidity and valuation remain concerns: net outstanding commitments are £640 million versus about £230 million of liquid resources, and the shares trade at a 33% discount to NAV. Management is considering further buybacks and other measures to address the discount.

Oakley Capital Investments (LON:OCI - Get Free Report) announced its quarterly earnings results on Thursday. The company reported GBX 41 earnings per share (EPS) for the quarter, Digital Look Earnings reports. Oakley Capital Investments had a return on equity of 4.67% and a net margin of 74.73%.

Here are the key takeaways from Oakley Capital Investments' conference call:

• NAV rose 6% in H1 2026 to £1.29 billion, or 782p per share, driven primarily by £56 million of unrealized portfolio gains; 80% of the gain came from earnings growth.
• Portfolio performance was led by Phenna, North Sails and TechInsights, while several newer investments are maturing. Management expects organic EBITDA growth to improve from the current 9%, with M&A lifting overall growth to approximately 17%–18%.
• Oakley highlighted strong AI exposure through its Touring Fund, including Exaforce, CuspAI and other AI-native businesses; CuspAI’s valuation rose from €89 million at seed to €2.6 billion at its Series B. The fund has recorded eight markups and one early exit.
• Liquidity remains manageable but constrained, with £640 million of net outstanding commitments versus approximately £230 million of available liquid resources. Potential exits and portfolio refinancings could return up to £200 million over the next year, although timing and execution remain uncertain.
• OCI’s shares continue to trade at a substantial 33% discount to NAV, despite management’s confidence in the portfolio and long-term returns. The company plans further buybacks and is evaluating additional measures, but acknowledged that a re-rating may take time.

Oakley Capital Investments Stock Down 0.4%

Shares of OCI traded down GBX 2 during midday trading on Friday, hitting GBX 522. 719,740 shares of the company's stock traded hands, compared to its average volume of 685,967. The company has a current ratio of 84.00, a quick ratio of 82.79 and a debt-to-equity ratio of 18.36. The stock has a market capitalization of £856.65 million, a price-to-earnings ratio of 15.35 and a beta of 0.47. Oakley Capital Investments has a 1 year low of GBX 422 and a 1 year high of GBX 578. The firm's fifty day moving average is GBX 519.84 and its 200-day moving average is GBX 500.54.

Analyst Ratings Changes

Separately, Jefferies Financial Group reaffirmed a "buy" rating on shares of Oakley Capital Investments in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy".

About Oakley Capital Investments

Oakley Capital Investments (“OCI”) is a Specialist Fund Segment listed investment vehicle that provides shareholders with consistent long-term returns in excess of the FTSE All-Share by providing exposure to private equity returns, where value can be created through market growth, consolidation and performance improvement. Through its investments in the Oakley Capital Funds, OCI enables shareholders to share in the growth and performance of a portfolio of European-based companies across Technology, Consumer, Education and Business Services sectors.