Blue Owl Capital (OBDC) Financials

$14.09 -0.19 (-1.33%)

Closing price 08/1/2025 03:59 PM Eastern

Extended Trading

$14.12 +0.03 (+0.22%)

As of 08/1/2025 07:20 PM Eastern

Annual Income Statements for Blue Owl Capital

This table shows Blue Owl Capital's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	345	598	466	793	522
Consolidated Net Income / (Loss)	388	625	451	793	595
Net Income / (Loss) Continuing Operations	517	490	451	754	741
Total Pre-Tax Income	519	494	461	766	753
Total Revenue	608	775	1,103	1,577	1,523
Net Interest Income / (Expense)	650	802	1,079	1,582	1,597
Total Interest Income	803	1,021	1,079	1,582	1,597
Investment Securities Interest Income	803	1,021	1,079	1,582	1,597
Total Interest Expense	153	219	0.00	0.00	0.00
Total Non-Interest Income	-43	-27	23	-4.84	-73
Other Service Charges	15	26	19	16	23
Net Realized & Unrealized Capital Gains on Investments	-57	-54	4.15	-58	-97
Investment Banking Income	0.00	0.00	-	37	0.12
Total Non-Interest Expense	131	308	642	816	844
Salaries and Employee Benefits	94	104	-	160	157
Other Operating Expenses	37	204	524	656	687
Income Tax Expense	2.02	4.01	9.77	13	12
Other Adjustments to Consolidated Net Income / (Loss)	-130	135	-	40	-146
Basic Earnings per Share	$1.00	$1.59	$1.18	$2.03	$1.53
Weighted Average Basic Shares Outstanding	388.65M	392.30M	394.01M	390.10M	390.07M
Diluted Earnings per Share	$1.00	$1.59	$1.18	$2.03	$1.53
Weighted Average Diluted Shares Outstanding	388.65M	392.30M	394.01M	390.10M	390.07M
Weighted Average Basic & Diluted Shares Outstanding	-	-	390.95M	389.73M	510.85M

This table shows Blue Owl Capital's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	271	295	202	196	207	189	183	122	135	82	243
Consolidated Net Income / (Loss)	265	21	162	201	217	213	183	122	148	142	255
Net Income / (Loss) Continuing Operations	147	404	162	187	190	214	183	189	185	184	255
Total Pre-Tax Income	148	412	162	189	193	222	188	192	188	185	260
Total Revenue	239	746	254	399	409	515	279	396	419	429	368
Net Interest Income / (Expense)	233	706	227	394	399	562	280	397	406	514	310
Total Interest Income	314	557	331	394	399	458	400	397	406	394	459
Investment Securities Interest Income	314	-	331	394	399	458	400	397	406	394	459
Total Interest Expense	81	-149	104	0.00	0.00	-104	119	0.00	0.00	-119	149
Long-Term Debt Interest Expense	81	-	104	-	-	-	119	-	-	-	149
Total Non-Interest Income	5.67	40	26	5.01	9.91	-46	-1.38	-0.85	13	-84	57
Other Service Charges	5.60	-	3.36	7.43	2.51	2.40	5.51	6.17	5.52	5.97	5.65
Net Realized & Unrealized Capital Gains on Investments	0.07	33	23	-2.42	-1.52	-77	-6.90	-7.02	-1.18	-82	51
Total Non-Interest Expense	84	340	91	205	206	313	92	205	218	329	107
Insurance Policy Acquisition Costs	-	-	-	-	-	-	-	-	-	-	41
Other Operating Expenses	53	253	55	166	166	270	54	165	178	290	70
Other Special Charges	-	-	-1.21	-	-	-	-	-	-	-	-4.01
Income Tax Expense	1.60	-	-	2.38	2.73	-	5.24	2.41	3.56	0.44	5.31
Basic Earnings per Share	$0.67	$0.49	$0.52	$0.50	$0.53	$0.48	$0.47	$0.31	$0.35	$0.40	$0.49
Weighted Average Basic Shares Outstanding	393.82M	394.01M	391.05M	389.93M	389.70M	390.10M	389.73M	390.10M	390.22M	390.07M	494.83M
Diluted Earnings per Share	$0.67	$0.49	$0.52	$0.50	$0.53	$0.48	$0.47	$0.31	$0.35	$0.40	$0.49
Weighted Average Diluted Shares Outstanding	393.82M	394.01M	391.05M	389.93M	389.70M	390.10M	389.73M	390.10M	390.22M	390.07M	494.83M
Weighted Average Basic & Diluted Shares Outstanding	-	390.95M	389.80M	389.73M	389.73M	389.73M	389.73M	390.22M	390.22M	510.85M	511.05M

This table details how cash moves in and out of Blue Owl Capital's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	41	89	-2.06	215	-146
Net Cash From Operating Activities	-1,560	-1,227	217	1,136	160
Net Cash From Continuing Operating Activities	-1,560	-1,227	217	1,136	113
Net Income / (Loss) Continuing Operations	388	625	466	793	595
Consolidated Net Income / (Loss)	388	625	466	793	595
Amortization Expense	-33	-56	-12	-23	-38
Non-Cash Adjustments to Reconcile Net Income	-1,960	-1,837	-350	388	-478
Changes in Operating Assets and Liabilities, net	45	41	112	-24	33
Net Cash From Investing Activities	0.00	0.00	0.00	0.00	0.00
Net Cash From Continuing Investing Activities	0.00	0.00	0.00	0.00	0.00
Net Cash From Financing Activities	1,601	1,316	-219	-921	-306
Net Cash From Continuing Financing Activities	1,601	1,316	-219	-921	-306
Issuance of Debt	5,404	5,522	2,531	1,746	4,183
Repayment of Debt	-3,199	-3,742	-2,236	-2,020	-3,833
Repurchase of Common Equity	-150	-2.60	-26	-34	0.00
Payment of Dividends	-453	-461	-488	-613	-656
Cash Interest Paid	113	167	234	397	419
Cash Income Taxes Paid	1.99	4.96	3.91	3.45	6.14

This table details how cash moves in and out of Blue Owl Capital's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	112	-10	-46	-32	64	228	83	-363	101	33	0.06
Net Cash From Operating Activities	48	95	46	497	179	414	444	-726	-3.53	446	39
Net Cash From Continuing Operating Activities	48	95	46	497	179	414	453	-799	5.46	453	106
Net Income / (Loss) Continuing Operations	265	192	202	196	207	189	183	122	135	155	243
Consolidated Net Income / (Loss)	265	192	202	196	207	189	183	122	135	155	243
Amortization Expense	-3.80	0.83	-1.92	-2.30	-7.30	-11	-6.74	-10	-6.91	-13	-11
Non-Cash Adjustments to Reconcile Net Income	-228	-135	-119	274	-1.79	235	316	-980	-36	222	-100
Changes in Operating Assets and Liabilities, net	14	37	-35	29	-19	0.95	-39	70	-87	90	-26
Net Cash From Investing Activities	-	-	0.00	-	-	-	0.00	-	-	-	0.00
Net Cash From Continuing Investing Activities	-	-	0.00	-	-	-	0.00	-	-	-	0.00
Net Cash From Financing Activities	64	-105	-92	-528	-115	-186	-361	364	105	-413	-39
Net Cash From Continuing Financing Activities	64	-105	-92	-528	-115	-186	-361	364	105	-413	-42
Issuance of Debt	819	323	498	77	320	851	1,282	1,103	561	1,237	1,300
Repayment of Debt	-633	-278	-422	-441	-279	-877	-1,475	-583	-288	-1,487	-1,172
Payment of Dividends	-122	-134	-145	-152	-156	-160	-168	-156	-168	-164	-170
Cash Interest Paid	76	57	114	77	121	84	122	72	151	74	198
Cash Income Taxes Paid	0.40	2.25	0.40	1.10	0.21	1.74	5.66	0.18	0.02	0.28	1.57

This table presents Blue Owl Capital's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2021	2022	2023	2024
Period end date	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	13,298	13,585	13,511	13,866
Cash and Due from Banks	431	444	659	506
Trading Account Securities	12,132	13,017	12,713	13,221
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00
Customer and Other Receivables	3.95	18	23	17
Other Assets	121	113	116	148
Total Liabilities & Shareholders' Equity	13,298	13,585	13,511	13,866
Total Liabilities	7,360	7,702	7,490	7,913
Long-Term Debt	7,079	7,282	7,077	7,458
Other Long-Term Liabilities	275	421	413	455
Commitments & Contingencies	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	5,938	5,882	6,021	5,953
Total Preferred & Common Equity	5,938	5,882	6,021	5,953
Total Common Equity	5,938	5,882	6,021	5,953
Common Stock	5,994	5,975	5,928	5,923
Retained Earnings	-56	-92	93	29

This table presents Blue Owl Capital's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Period end date	3/31/2023	6/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025
Total Assets	13,679	13,393	13,330	13,867	14,091	18,376
Cash and Due from Banks	393	366	667	378	479	512
Trading Account Securities	13,181	12,917	12,441	13,368	13,474	17,730
Loans and Leases, Net of Allowance	0.00	0.00	0.00	0.00	0.00	0.00
Customer and Other Receivables	22	19	26	30	24	20
Other Assets	107	115	223	116	140	152
Total Liabilities & Shareholders' Equity	13,679	13,393	13,330	13,867	14,091	18,376
Total Liabilities	7,762	7,444	7,301	7,872	8,129	10,637
Long-Term Debt	7,383	7,027	6,886	7,415	7,741	10,161
Other Long-Term Liabilities	375	417	415	448	388	476
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	5,917	5,949	6,029	5,994	5,962	7,739
Total Preferred & Common Equity	5,917	5,949	6,029	5,994	5,962	7,739
Total Common Equity	5,917	5,949	6,029	5,994	5,962	7,739
Common Stock	5,953	5,941	5,928	5,935	5,935	7,678
Retained Earnings	-35	8.42	101	59	27	61

This table displays calculated financial ratios and metrics derived from Blue Owl Capital's official financial filings.

Metric	2020	2021	2022	2023	2024
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-
Revenue Growth	0.00%	0.00%	42.28%	43.02%	-3.41%
EBITDA Growth	0.00%	26.88%	9.45%	64.38%	-13.15%
EBIT Growth	0.00%	30.79%	-1.23%	65.12%	-10.79%
NOPAT Growth	0.00%	37.28%	-7.90%	66.94%	-1.67%
Net Income Growth	0.00%	0.00%	-27.76%	75.73%	-25.00%
EPS Growth	0.00%	0.00%	-25.79%	72.03%	-24.63%
Operating Cash Flow Growth	0.00%	21.35%	117.70%	422.68%	-85.89%
Free Cash Flow Firm Growth	0.00%	0.00%	-7.90%	-2,834.60%	103.48%
Invested Capital Growth	0.00%	0.00%	0.00%	0.00%	2.38%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	-2.60%	34.08%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	-31.31%	-9.49%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	-29.92%	-8.71%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	-28.77%	-6.21%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	28.74%	-10.75%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-0.49%	-4.97%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.00%	39.08%	25.05%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	-45.70%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-
EBITDA Margin	72.99%	53.00%	40.77%	46.86%	42.13%
EBIT Margin	78.47%	60.25%	41.82%	48.28%	44.59%
Profit (Net Income) Margin	63.80%	80.62%	40.94%	50.30%	39.06%
Tax Burden Percent	74.64%	126.46%	97.88%	103.52%	79.05%
Interest Burden Percent	108.94%	105.82%	100.00%	100.64%	110.80%
Effective Tax Rate	0.39%	0.81%	2.12%	1.66%	1.55%
Return on Invested Capital (ROIC)	0.00%	7.53%	0.00%	11.51%	5.59%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	11.34%	0.00%	12.63%	3.58%
Return on Net Nonoperating Assets (RNNOA)	0.00%	13.52%	0.00%	14.84%	4.35%
Return on Equity (ROE)	0.00%	21.05%	0.00%	26.35%	9.94%
Cash Return on Invested Capital (CROIC)	0.00%	-192.47%	0.00%	-188.49%	3.24%
Operating Return on Assets (OROA)	0.00%	3.51%	0.00%	5.64%	4.96%
Return on Assets (ROA)	0.00%	4.70%	0.00%	5.87%	4.35%
Return on Common Equity (ROCE)	0.00%	21.05%	0.00%	26.35%	9.94%
Return on Equity Simple (ROE_SIMPLE)	0.00%	10.52%	0.00%	13.17%	9.99%
Net Operating Profit after Tax (NOPAT)	517	490	451	754	741
NOPAT Margin	85.15%	63.24%	40.94%	47.78%	48.64%
Net Nonoperating Expense Percent (NNEP)	0.00%	-3.81%	0.00%	-1.12%	2.01%
SG&A Expenses to Revenue	15.45%	13.41%	0.00%	10.14%	10.32%
Operating Expenses to Revenue	21.54%	39.75%	58.18%	51.72%	55.41%
Earnings before Interest and Taxes (EBIT)	477	467	461	762	679
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	444	411	450	739	642
Valuation Ratios	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.67	0.00	0.86	1.00
Price to Tangible Book Value (P/TBV)	0.00	0.67	0.00	0.86	1.00
Price to Revenue (P/Rev)	5.32	5.14	3.28	3.29	3.91
Price to Earnings (P/E)	9.37	6.66	7.76	6.54	11.42
Dividend Yield	3.86%	12.26%	14.04%	12.06%	11.38%
Earnings Yield	10.67%	15.00%	12.89%	15.28%	8.76%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.82	0.00	0.89	0.96
Enterprise Value to Revenue (EV/Rev)	0.00	13.72	0.00	7.36	8.47
Enterprise Value to EBITDA (EV/EBITDA)	0.00	25.88	0.00	15.71	20.11
Enterprise Value to EBIT (EV/EBIT)	0.00	22.77	0.00	15.25	19.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	21.69	0.00	15.41	17.42
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	10.22	80.56
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	30.09
Leverage & Solvency	-	-	-	-	-
Debt to Equity	0.00	1.19	0.00	1.18	1.25
Long-Term Debt to Equity	0.00	1.19	0.00	1.18	1.25
Financial Leverage	0.00	1.19	0.00	1.18	1.21
Leverage Ratio	0.00	2.24	0.00	2.24	2.29
Compound Leverage Factor	0.00	2.37	0.00	2.26	2.53
Debt to Total Capital	0.00%	54.38%	0.00%	54.03%	55.61%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	54.38%	0.00%	54.03%	55.61%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	45.62%	0.00%	45.97%	44.39%
Debt to EBITDA	0.00	17.23	0.00	9.58	11.62
Net Debt to EBITDA	0.00	16.18	0.00	8.68	10.83
Long-Term Debt to EBITDA	0.00	17.23	0.00	9.58	11.62
Debt to NOPAT	0.00	14.44	0.00	9.39	10.06
Net Debt to NOPAT	0.00	13.56	0.00	8.52	9.38
Long-Term Debt to NOPAT	0.00	14.44	0.00	9.39	10.06
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-12,527	451	-12,345	429
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	-57.17	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	-10.20	-5.60	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	-10.20	-5.60	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-
Asset Turnover	0.00	0.06	0.00	0.12	0.11
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-
Invested Capital	0.00	13,017	0.00	13,098	13,411
Invested Capital Turnover	0.00	0.12	0.00	0.24	0.11
Increase / (Decrease) in Invested Capital	0.00	13,017	0.00	13,098	312
Enterprise Value (EV)	0.00	10,631	0.00	11,610	12,907
Market Capitalization	3,234	3,983	3,618	5,192	5,955
Book Value per Share	$0.00	$15.14	$0.00	$15.45	$15.26
Tangible Book Value per Share	$0.00	$15.14	$0.00	$15.45	$15.26
Total Capital	0.00	13,017	0.00	13,098	13,411
Total Debt	0.00	7,079	0.00	7,077	7,458
Total Long-Term Debt	0.00	7,079	0.00	7,077	7,458
Net Debt	0.00	6,648	0.00	6,418	6,952
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Expense (NNE)	130	-135	0.00	-40	146
Net Nonoperating Obligations (NNO)	0.00	7,079	0.00	7,077	7,458
Total Depreciation and Amortization (D&A)	-33	-56	-12	-23	-38
Earnings Adjustments	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$1.18	$2.03	$1.53
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	394.01M	390.10M	390.07M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$1.18	$2.03	$1.53
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	394.01M	390.10M	390.07M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	390.95M	389.73M	510.85M
Normalized Net Operating Profit after Tax (NOPAT)	517	490	451	754	741
Normalized NOPAT Margin	85.15%	63.24%	40.94%	47.78%	48.64%
Pre Tax Income Margin	85.48%	63.75%	41.82%	48.59%	49.41%
Debt Service Ratios	-	-	-	-	-
EBIT to Interest Expense	3.12	2.13	0.00	0.00	0.00
NOPAT to Interest Expense	3.38	2.24	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	3.12	2.13	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	3.38	2.24	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-
Dividend Payout Ratio	116.96%	73.75%	108.19%	77.32%	110.18%
Augmented Payout Ratio	155.71%	74.17%	113.94%	81.61%	110.18%

This table displays calculated financial ratios and metrics derived from Blue Owl Capital's official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	20.44%	88.86%	71.45%	-30.95%	10.01%	-0.83%	2.49%	-16.71%	-9.98%
EBITDA Growth	365.85%	0.00%	28.56%	47.94%	30.05%	-53.05%	12.05%	-5.98%	-0.38%	-54.53%	31.59%
EBIT Growth	372.57%	0.00%	24.02%	46.84%	31.58%	-50.25%	14.88%	-1.74%	-0.55%	-50.34%	32.43%
NOPAT Growth	471.00%	0.00%	32.77%	49.19%	29.49%	-46.14%	12.50%	1.32%	-2.71%	-17.04%	39.62%
Net Income Growth	0.00%	0.00%	269.33%	673.96%	-18.30%	896.28%	12.35%	-39.07%	-31.54%	-33.57%	39.81%
EPS Growth	0.00%	0.00%	372.73%	655.56%	-20.90%	-2.04%	-9.62%	-38.00%	-33.96%	-16.67%	4.26%
Operating Cash Flow Growth	0.00%	0.00%	441.92%	462.48%	274.51%	336.81%	859.86%	-246.29%	-101.97%	7.76%	-91.23%
Free Cash Flow Firm Growth	0.00%	0.00%	0.00%	0.00%	29.49%	0.00%	104.33%	98.09%	-7,212.76%	99.01%	-931.15%
Invested Capital Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-2.91%	3.34%	0.00%	2.38%	38.61%
Revenue Q/Q Growth	-12.54%	212.97%	-66.02%	57.39%	2.43%	26.04%	-45.86%	41.87%	5.87%	2.43%	-14.39%
EBITDA Q/Q Growth	27.27%	171.21%	-60.60%	19.46%	1.89%	-2.09%	-5.98%	0.23%	7.97%	-55.31%	187.36%
EBIT Q/Q Growth	27.74%	163.99%	-60.05%	19.46%	4.44%	-0.19%	-7.75%	2.18%	5.71%	-50.16%	159.26%
NOPAT Q/Q Growth	21.71%	180.93%	-60.60%	14.91%	1.81%	16.85%	-17.70%	3.48%	-2.23%	-0.36%	38.50%
Net Income Q/Q Growth	120.09%	-91.93%	658.31%	23.47%	8.11%	-1.58%	-14.49%	-33.04%	21.47%	-4.50%	79.98%
EPS Q/Q Growth	844.44%	-26.87%	6.12%	-3.85%	6.00%	-9.43%	-2.08%	-34.04%	12.90%	14.29%	22.50%
Operating Cash Flow Q/Q Growth	-45.87%	98.30%	-51.16%	973.02%	-63.96%	131.28%	7.33%	-263.54%	99.51%	12,740.39%	-91.27%
Free Cash Flow Firm Q/Q Growth	0.00%	-100.00%	0.00%	2.65%	101.49%	-6,875.16%	104.42%	-142.86%	-5,441.76%	-169.12%	-3,600.97%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	-2.44%	-100.00%	0.00%	-1.41%	3.83%	2.19%	0.00%	33.48%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
EBITDA Margin	62.99%	54.59%	63.28%	48.03%	47.78%	37.12%	64.46%	45.54%	46.44%	20.26%	68.01%
EBIT Margin	64.59%	54.48%	64.04%	48.61%	49.57%	39.25%	66.87%	48.17%	48.09%	23.40%	70.87%
Profit (Net Income) Margin	111.28%	2.87%	64.04%	50.24%	53.03%	41.41%	65.40%	30.87%	35.42%	33.03%	69.43%
Tax Burden Percent	178.89%	5.20%	100.00%	106.09%	112.48%	96.11%	97.08%	63.81%	78.77%	76.77%	97.96%
Interest Burden Percent	96.32%	101.39%	100.00%	97.42%	95.11%	109.77%	100.74%	100.45%	93.50%	183.82%	100.00%
Effective Tax Rate	1.08%	0.00%	0.00%	1.26%	1.42%	0.00%	2.79%	1.26%	1.89%	0.24%	2.04%
Return on Invested Capital (ROIC)	0.00%	0.00%	11.03%	9.61%	0.00%	10.38%	8.01%	5.79%	10.36%	4.93%	6.68%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	11.03%	10.01%	0.00%	10.13%	8.00%	4.86%	9.42%	4.35%	6.68%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	13.77%	11.82%	0.00%	11.91%	9.56%	5.88%	12.23%	5.28%	8.27%
Return on Equity (ROE)	0.00%	0.00%	24.80%	21.43%	0.00%	22.29%	17.57%	11.67%	22.60%	10.21%	14.95%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	-188.49%	8.99%	2.74%	-188.47%	3.24%	-27.08%
Operating Return on Assets (OROA)	0.00%	0.00%	5.36%	4.84%	0.00%	4.58%	7.94%	5.65%	5.49%	2.60%	6.63%
Return on Assets (ROA)	0.00%	0.00%	5.36%	5.00%	0.00%	4.83%	7.76%	3.62%	4.05%	3.68%	6.49%
Return on Common Equity (ROCE)	0.00%	0.00%	24.80%	21.43%	0.00%	22.29%	17.57%	11.67%	22.60%	10.21%	14.95%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	9.63%	13.54%	0.00%	0.00%	13.49%	12.26%	11.18%	0.00%	8.63%
Net Operating Profit after Tax (NOPAT)	147	412	162	187	190	222	183	189	185	184	255
NOPAT Margin	61.54%	55.24%	64.04%	46.76%	46.48%	43.09%	65.49%	47.77%	44.12%	42.92%	69.43%
Net Nonoperating Expense Percent (NNEP)	0.00%	0.00%	0.00%	-0.40%	0.00%	0.24%	0.00%	0.93%	0.94%	0.58%	0.00%
SG&A Expenses to Revenue	13.05%	0.00%	14.87%	9.92%	9.86%	8.19%	13.89%	10.13%	9.36%	9.10%	0.00%
Operating Expenses to Revenue	35.41%	45.52%	35.96%	51.39%	50.43%	60.75%	33.13%	51.83%	51.91%	76.60%	29.13%
Earnings before Interest and Taxes (EBIT)	154	407	162	194	203	202	187	191	202	100	260
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	150	407	161	192	195	191	180	180	195	87	250
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.69	0.75	0.00	0.86	0.92	0.95	0.93	1.00	0.75
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.69	0.75	0.00	0.86	0.92	0.95	0.93	1.00	0.75
Price to Revenue (P/Rev)	0.00	3.28	3.54	3.33	3.14	3.29	3.47	3.56	3.46	3.91	3.89
Price to Earnings (P/E)	0.00	7.76	6.58	5.28	6.07	6.54	7.18	8.13	8.85	11.42	10.07
Dividend Yield	13.85%	14.04%	13.11%	12.68%	12.69%	12.06%	11.84%	11.75%	12.24%	11.38%	11.53%
Earnings Yield	0.00%	12.89%	15.20%	18.94%	16.47%	15.28%	13.94%	12.30%	11.31%	8.76%	9.93%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.83	0.86	0.00	0.89	0.91	0.95	0.94	0.96	0.86
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	9.64	8.32	0.00	7.36	7.35	7.96	7.97	8.47	10.40
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	22.76	20.28	0.00	15.71	15.52	17.05	17.19	20.11	21.97
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	22.42	20.02	0.00	15.25	14.98	16.28	16.42	19.00	20.75
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	22.07	19.73	0.00	15.41	14.87	16.03	16.23	17.42	18.96
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	39.86	16.20	0.00	10.22	7.68	41.00	100.11	80.56	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	9.99	35.24	0.00	30.09	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	1.25	1.18	0.00	1.18	1.14	1.24	1.30	1.25	1.31
Long-Term Debt to Equity	0.00	0.00	1.25	1.18	0.00	1.18	1.14	1.24	1.30	1.25	1.31
Financial Leverage	0.00	0.00	1.25	1.18	0.00	1.18	1.19	1.21	1.30	1.21	1.24
Leverage Ratio	0.00	0.00	2.31	2.25	0.00	2.24	2.26	2.28	2.36	2.29	2.30
Compound Leverage Factor	0.00	0.00	2.31	2.19	0.00	2.46	2.28	2.29	2.21	4.20	2.30
Debt to Total Capital	0.00%	0.00%	55.51%	54.15%	0.00%	54.03%	53.32%	55.30%	56.49%	55.61%	56.76%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	55.51%	54.15%	0.00%	54.03%	53.32%	55.30%	56.49%	55.61%	56.76%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	0.00%	44.49%	45.85%	0.00%	45.97%	46.68%	44.70%	43.51%	44.39%	43.24%
Debt to EBITDA	0.00	0.00	15.22	12.84	0.00	9.58	9.08	9.93	10.37	11.62	14.48
Net Debt to EBITDA	0.00	0.00	14.41	12.17	0.00	8.68	8.20	9.42	9.73	10.83	13.75
Long-Term Debt to EBITDA	0.00	0.00	15.22	12.84	0.00	9.58	9.08	9.93	10.37	11.62	14.48
Debt to NOPAT	0.00	0.00	14.75	12.49	0.00	9.39	8.69	9.33	9.80	10.06	12.49
Net Debt to NOPAT	0.00	0.00	13.97	11.83	0.00	8.52	7.85	8.86	9.19	9.38	11.86
Long-Term Debt to NOPAT	0.00	0.00	14.75	12.49	0.00	9.39	8.69	9.33	9.80	10.06	12.49
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	147	0.00	-13,138	-12,789	190	-12,876	569	-244	-13,518	-128	-4,730
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	1.81	0.00	-126.38	0.00	0.00	0.00	4.78	0.00	0.00	0.00	-31.85
Operating Cash Flow to Interest Expense	0.59	0.00	0.45	0.00	0.00	0.00	3.73	0.00	0.00	0.00	0.26
Operating Cash Flow Less CapEx to Interest Expense	0.59	0.00	0.45	0.00	0.00	0.00	3.73	0.00	0.00	0.00	0.26
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.00	0.08	0.10	0.00	0.12	0.12	0.12	0.11	0.11	0.09
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	0.00	13,301	12,976	0.00	13,098	12,914	13,409	13,703	13,411	17,900
Invested Capital Turnover	0.00	0.00	0.17	0.21	0.00	0.24	0.12	0.12	0.23	0.11	0.10
Increase / (Decrease) in Invested Capital	0.00	0.00	13,301	12,976	0.00	13,098	-386	433	13,703	312	4,986
Enterprise Value (EV)	0.00	0.00	11,045	11,103	0.00	11,610	11,772	12,735	12,826	12,907	15,423
Market Capitalization	3,527	3,618	4,054	4,442	4,718	5,192	5,554	5,698	5,564	5,955	5,773
Book Value per Share	$0.00	$0.00	$15.14	$15.26	$0.00	$15.45	$15.47	$15.38	$15.28	$15.26	$15.15
Tangible Book Value per Share	$0.00	$0.00	$15.14	$15.26	$0.00	$15.45	$15.47	$15.38	$15.28	$15.26	$15.15
Total Capital	0.00	0.00	13,301	12,976	0.00	13,098	12,914	13,409	13,703	13,411	17,900
Total Debt	0.00	0.00	7,383	7,027	0.00	7,077	6,886	7,415	7,741	7,458	10,161
Total Long-Term Debt	0.00	0.00	7,383	7,027	0.00	7,077	6,886	7,415	7,741	7,458	10,161
Net Debt	0.00	0.00	6,990	6,661	0.00	6,418	6,219	7,037	7,262	6,952	9,649
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Nonoperating Expense (NNE)	-119	391	0.00	-14	-27	8.65	0.25	67	36	42	0.00
Net Nonoperating Obligations (NNO)	0.00	0.00	7,383	7,027	0.00	7,077	6,886	7,415	7,741	7,458	10,161
Total Depreciation and Amortization (D&A)	-3.80	0.83	-1.92	-2.30	-7.30	-11	-6.74	-10	-6.91	-13	-11
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.49	$0.52	$0.50	$0.53	$0.48	$0.47	$0.31	$0.35	$0.40	$0.49
Adjusted Weighted Average Basic Shares Outstanding	0.00	394.01M	391.05M	389.93M	389.70M	390.10M	389.73M	390.10M	390.22M	390.07M	494.83M
Adjusted Diluted Earnings per Share	$0.00	$0.49	$0.52	$0.50	$0.53	$0.48	$0.47	$0.31	$0.35	$0.40	$0.49
Adjusted Weighted Average Diluted Shares Outstanding	0.00	394.01M	391.05M	389.93M	389.70M	390.10M	389.73M	390.10M	390.22M	390.07M	494.83M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	390.95M	389.80M	389.73M	389.73M	389.73M	389.73M	390.22M	390.22M	510.85M	511.05M
Normalized Net Operating Profit after Tax (NOPAT)	147	289	113	187	190	155	183	189	185	184	251
Normalized NOPAT Margin	61.54%	38.67%	44.50%	46.76%	46.48%	30.16%	65.49%	47.77%	44.12%	42.92%	68.36%
Pre Tax Income Margin	62.21%	55.24%	64.04%	47.35%	47.14%	43.09%	67.37%	48.38%	44.97%	43.02%	70.87%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.90	0.00	1.56	0.00	0.00	0.00	1.57	0.00	0.00	0.00	1.75
NOPAT to Interest Expense	1.81	0.00	1.56	0.00	0.00	0.00	1.53	0.00	0.00	0.00	1.72
EBIT Less CapEx to Interest Expense	1.90	0.00	1.56	0.00	0.00	0.00	1.57	0.00	0.00	0.00	1.75
NOPAT Less CapEx to Interest Expense	1.81	0.00	1.56	0.00	0.00	0.00	1.53	0.00	0.00	0.00	1.72
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	108.19%	91.88%	68.74%	77.62%	77.32%	78.15%	87.01%	97.72%	110.18%	98.54%
Augmented Payout Ratio	0.00%	113.94%	100.31%	74.95%	84.23%	81.61%	79.62%	87.01%	97.72%	110.18%	98.54%

Key Financial Trends

Blue Owl Capital (NYSE: OBDC) has shown a generally positive financial performance trend over the past year and into Q1 2025, supported by growth in net income, stable revenues, and manageable expenses.

Q1 2025 net income attributable to common shareholders rose to $242.6 million, up significantly from $81.5 million in Q4 2024, indicating strong earnings growth.
Total revenue in Q1 2025 increased to $367.5 million from $429.3 million in Q4 2024, though slightly lower than some previous quarters, it remains solid.
Net interest income in Q1 2025 was $310.5 million, a strong number reflecting ongoing interest income minus expense management.
Blue Owl’s total assets grew to $18.38 billion by Q1 2025, up from $14.09 billion in Q3 2024, showing expansion in the company’s asset base.
Cash and equivalents increased to $511.5 million in Q1 2025, up from $479.5 million in Q3 2024 and $377.9 million in Q2 2024, providing good liquidity.
The company’s total equity has grown to $7.74 billion by Q1 2025 from $5.96 billion in Q3 2024, improving the company's financial strength and shareholder value.
Q1 2025 operating cash flow remained positive at $105.8 million, reflecting ongoing operational cash generation despite some volatility throughout 2024.
The company’s total interest expense increased in Q1 2025 to approximately $148.5 million, partly due to long-term debt interest costs, which may impact profit margins if rising further.
Net realized and unrealized capital gains on investments fluctuate quarter-to-quarter, with $51.4 million gain in Q1 2025 but negative swings in previous quarters, introducing earnings volatility.
Non-interest expenses, including operating expenses and insurance policy acquisition costs, were $107 million in Q1 2025, higher than some prior quarters, suggesting increased cost pressures.

In summary, Blue Owl Capital shows a healthy trajectory with improving net income, expanding assets, and solid equity growth. The company supports its operations with positive operating cash flows and increasing liquidity. However, investors should watch interest expenses and volatility in non-interest income components as they could affect future profitability. Rising operating expenses may also demand future efficiency improvements or cost controls to sustain strong margins.

08/02/25 10:18 PMAI Generated. May Contain Errors.

Frequently Asked Questions About Blue Owl Capital's Financials

When does Blue Owl Capital's fiscal year end?

According to the most recent income statement we have on file, Blue Owl Capital's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Blue Owl Capital's net income changed over the last 4 years?

Blue Owl Capital's net income appears to be on an upward trend, with a most recent value of $594.98 million in 2024, rising from $387.74 million in 2020. The previous period was $793.31 million in 2023. View Blue Owl Capital's forecast to see where analysts expect Blue Owl Capital to go next.

How has Blue Owl Capital's revenue changed over the last 4 years?

Over the last 4 years, Blue Owl Capital's total revenue changed from $607.72 million in 2020 to $1.52 billion in 2024, a change of 150.7%.

How much debt does Blue Owl Capital have?

Blue Owl Capital's total liabilities were at $7.91 billion at the end of 2024, a 5.6% increase from 2023, and a 7.5% increase since 2021.

How much cash does Blue Owl Capital have?

In the past 3 years, Blue Owl Capital's cash and equivalents has ranged from $431.44 million in 2021 to $658.70 million in 2023, and is currently $505.69 million as of their latest financial filing in 2024.

How has Blue Owl Capital's book value per share changed over the last 4 years?

Over the last 4 years, Blue Owl Capital's book value per share changed from 0.00 in 2020 to 15.26 in 2024, a change of 1,525.5%.

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This page (NYSE:OBDC) was last updated on 8/2/2025 by MarketBeat.com Staff

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Blue Owl Capital (OBDC) Financials

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Blue Owl Capital (OBDC) Financials

Annual Income Statements for Blue Owl Capital

Quarterly Income Statements for Blue Owl Capital

Annual Cash Flow Statements for Blue Owl Capital

Quarterly Cash Flow Statements for Blue Owl Capital

Annual Balance Sheets for Blue Owl Capital

Quarterly Balance Sheets for Blue Owl Capital

Annual Metrics And Ratios for Blue Owl Capital

Quarterly Metrics And Ratios for Blue Owl Capital

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