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Blue Owl Capital (OBDC) Financials

Blue Owl Capital logo
$11.18 +0.01 (+0.10%)
Closing price 05/13/2026 03:59 PM Eastern
Extended Trading
$11.20 +0.01 (+0.13%)
As of 07:36 AM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Blue Owl Capital

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 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 345 598 466 793 522 627
Consolidated Net Income / (Loss)		 388 625 451 793 595 405
Net Income / (Loss) Continuing Operations		 517 490 451 754 741 405
Total Pre-Tax Income 		519 494 461 766 753 420
Total Revenue		 608 775 1,103 1,577 1,523 1,441
Net Interest Income / (Expense)		 650 802 1,079 1,582 1,597 1,601
Total Interest Income		 803 1,021 1,079 1,582 1,597 1,601
Investment Securities Interest Income		 803 1,021 1,079 1,582 1,597 1,601
Total Interest Expense		 153 219 0.00 0.00 0.00 0.00
Total Non-Interest Income		 -43 -27 23 -4.84 -73 -159
Other Service Charges		 15 26 19 16 23 20
Net Realized & Unrealized Capital Gains on Investments		 -57 -54 4.15 -58 -97 -179
Total Non-Interest Expense		 131 308 642 816 844 1,021
Insurance Policy Acquisition Costs		 - - 118 - - 162
Other Operating Expenses		 37 204 524 656 687 877
Other Special Charges		 - - - - - -18
Income Tax Expense		 2.02 4.01 9.77 13 12 15
Basic Earnings per Share		 $1.00 $1.59 $1.18 $2.03 $1.53 $1.24
Weighted Average Basic Shares Outstanding		 388.65M 392.30M 394.01M 390.10M 390.07M 506.10M
Diluted Earnings per Share		 $1.00 $1.59 $1.18 $2.03 $1.53 $1.24
Weighted Average Diluted Shares Outstanding		 388.65M 392.30M 394.01M 390.10M 390.07M 506.10M
Weighted Average Basic & Diluted Shares Outstanding		 - - 390.95M 389.73M 510.85M 499.45M

Quarterly Income Statements for Blue Owl Capital

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 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 207 189 191 130 135 82 243 167 128 89 -24
Consolidated Net Income / (Loss)		 217 213 183 122 148 142 165 138 146 -134 -57
Net Income / (Loss) Continuing Operations		 190 214 183 189 185 184 165 217 146 -213 -57
Total Pre-Tax Income 		193 222 188 192 188 185 168 219 150 -210 -54
Total Revenue		 409 515 408 404 419 429 424 515 411 148 184
Net Interest Income / (Expense)		 399 562 400 397 406 514 380 486 403 401 362
Total Interest Income		 399 458 400 397 406 394 380 486 403 253 362
Investment Securities Interest Income		 399 458 400 397 406 394 380 486 403 253 362
Total Interest Expense		 0.00 -104 0.00 0.00 0.00 -119 0.00 0.00 0.00 -149 0.00
Total Non-Interest Income		 9.91 -46 8.69 7.62 13 -84 45 30 7.73 -254 -178
Other Service Charges		 2.51 2.40 5.51 6.17 5.52 5.97 5.65 5.34 4.06 4.94 3.39
Net Realized & Unrealized Capital Gains on Investments		 -1.52 -77 -6.90 -7.02 -1.18 -82 39 10 3.67 -245 -181
Total Non-Interest Expense		 206 313 212 205 218 329 256 267 260 387 238
Salaries and Employee Benefits		 40 42 39 40 39 39 41 44 - - 32
Other Operating Expenses		 166 270 173 165 178 290 219 223 221 362 203
Other Special Charges		 - - - - - - -4.01 - 0.51 - 3.27
Income Tax Expense		 2.73 - 5.24 2.41 3.56 0.44 3.75 2.29 4.58 2.91 2.45
Basic Earnings per Share		 $0.53 $0.48 $0.47 $0.31 $0.35 $0.40 $0.49 $0.27 $0.25 $0.23 ($0.05)
Weighted Average Basic Shares Outstanding		 389.70M 390.10M 389.73M 390.10M 390.22M 390.07M 494.83M 511.05M 511.05M 506.10M 498.90M
Diluted Earnings per Share		 $0.53 $0.48 $0.47 $0.31 $0.35 $0.40 $0.49 $0.27 $0.25 $0.23 ($0.05)
Weighted Average Diluted Shares Outstanding		 389.70M 390.10M 389.73M 390.10M 390.22M 390.07M 494.83M 511.05M 511.05M 506.10M 498.90M
Weighted Average Basic & Diluted Shares Outstanding		 389.73M 389.73M 389.73M 390.22M 390.22M 510.85M 511.05M 511.05M 511.05M 499.45M 496.31M

Annual Cash Flow Statements for Blue Owl Capital

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 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 41 89 -2.06 215 -146 54
Net Cash From Operating Activities		 -1,560 -1,227 217 1,136 160 1,742
Net Cash From Continuing Operating Activities		 -1,560 -1,227 217 1,136 113 1,561
Net Income / (Loss) Continuing Operations		 388 625 466 793 595 627
Consolidated Net Income / (Loss)		 388 625 466 793 595 627
Amortization Expense		 -33 -56 -12 -23 -38 -66
Non-Cash Adjustments to Reconcile Net Income		 -1,960 -1,837 -350 388 -478 987
Changes in Operating Assets and Liabilities, net		 45 41 112 -24 33 13
Net Cash From Investing Activities		 0.00 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 0.00
Net Cash From Financing Activities		 1,601 1,316 -219 -921 -306 -1,687
Net Cash From Continuing Financing Activities		 1,601 1,316 -219 -921 -306 -1,687
Issuance of Debt		 5,404 5,522 2,531 1,746 4,183 5,184
Issuance of Common Equity		 - - - 0.00 0.00 3.07
Repayment of Debt		 -3,199 -3,742 -2,236 -2,020 -3,833 -5,973
Repurchase of Common Equity		 -150 -2.60 -26 -34 0.00 -148
Payment of Dividends		 -453 -461 -488 -613 -656 -753
Cash Interest Paid		 113 167 234 397 419 571
Cash Income Taxes Paid		 1.99 4.96 3.91 3.45 6.14 9.15

Quarterly Cash Flow Statements for Blue Owl Capital

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 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 64 228 83 -363 101 33 0.06 -154 -39 247 -113
Net Cash From Operating Activities		 179 414 444 -726 -3.53 446 39 1,011 -131 823 967
Net Cash From Continuing Operating Activities		 179 414 444 -799 5.46 453 39 1,028 -189 616 967
Net Income / (Loss) Continuing Operations		 207 189 183 122 135 155 243 138 128 119 -24
Consolidated Net Income / (Loss)		 207 189 183 122 135 155 243 138 128 119 -24
Amortization Expense		 -7.30 -11 -6.74 -10 -6.91 -13 -11 -29 -13 -14 -5.78
Non-Cash Adjustments to Reconcile Net Income		 -1.79 235 308 -980 -36 222 -167 911 -306 482 1,140
Changes in Operating Assets and Liabilities, net		 -19 0.95 -39 70 -87 90 -26 8.82 1.52 29 -142
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		 -115 -186 -361 364 105 -413 -39 -1,165 92 -576 -1,081
Net Cash From Continuing Financing Activities		 -115 -186 -361 364 105 -413 -39 -1,162 92 -576 -1,081
Issuance of Debt		 320 851 1,282 1,103 561 1,237 1,300 1,665 1,569 650 1,708
Issuance of Common Equity		 - - 0.00 - - - 3.07 - - - 0.00
Repayment of Debt		 -279 -877 -1,475 -583 -288 -1,487 -1,172 -2,635 -1,278 -888 -2,568
Repurchase of Common Equity		 - - - - - - 0.00 - - - -35
Payment of Dividends		 -156 -160 -168 -156 -168 -164 -170 -194 -199 -189 -185
Cash Interest Paid		 121 84 122 72 151 74 198 106 158 109 169
Cash Income Taxes Paid		 0.21 1.74 5.66 0.18 0.02 0.28 1.57 0.27 7.01 0.31 6.51

Annual Balance Sheets for Blue Owl Capital

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 2025
Period end date 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 13,298 13,585 13,511 13,866 17,186
Cash and Due from Banks		 431 444 659 506 559
Trading Account Securities		 12,132 13,017 12,713 13,353 16,533
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00
Customer and Other Receivables		 3.95 18 23 17 27
Other Assets		 121 113 116 148 130
Total Liabilities & Shareholders' Equity		 13,298 13,585 13,511 13,866 17,186
Total Liabilities		 7,360 7,702 7,490 7,913 9,789
Long-Term Debt		 7,079 7,282 7,077 7,458 9,300
Other Long-Term Liabilities		 275 421 413 455 489
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 5,938 5,882 6,021 5,953 7,397
Total Preferred & Common Equity		 5,938 5,882 6,021 5,953 7,397
Total Common Equity		 5,938 5,882 6,021 5,953 7,397
Common Stock		 5,994 5,975 5,928 5,923 7,517
Retained Earnings		 -56 -92 93 29 -120

Quarterly Balance Sheets for Blue Owl Capital

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 Q2 2025 Q3 2025 Q1 2026
Period end date 3/31/2023 6/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 13,679 13,393 13,330 13,867 14,091 18,376 17,398 17,605 16,019
Cash and Due from Banks		 393 366 667 378 479 512 359 317 416
Trading Account Securities		 13,181 12,917 12,441 13,368 13,474 17,730 16,908 17,179 15,386
Loans and Leases, Net of Allowance		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Customer and Other Receivables		 22 19 26 30 24 20 26 25 25
Other Assets		 107 115 223 116 140 152 144 126 233
Total Liabilities & Shareholders' Equity		 13,679 13,393 13,330 13,867 14,091 18,376 17,398 17,605 16,019
Total Liabilities		 7,762 7,444 7,301 7,872 8,129 10,637 9,716 9,994 8,865
Long-Term Debt		 7,383 7,027 6,886 7,415 7,741 10,161 9,226 9,529 8,455
Other Long-Term Liabilities		 375 417 415 448 388 476 489 455 410
Commitments & Contingencies		 0.00 0.00 0.00 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 7,682 7,611 7,154
Total Preferred & Common Equity		 5,917 5,949 6,029 5,994 5,962 7,739 7,682 7,611 7,154
Total Common Equity		 5,917 5,949 6,029 5,994 5,962 7,739 7,682 7,611 7,154
Common Stock		 5,953 5,941 5,928 5,935 5,935 7,678 7,678 7,678 7,482
Retained Earnings		 -35 8.42 101 59 27 61 4.17 -67 -328

Annual Metrics And Ratios for Blue Owl Capital

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

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 - - - - - 511,048,237.00
DEI Adjusted Shares Outstanding		 - - - - - 511,048,237.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - 0.79
Growth Metrics		 - - - - - -
Profitability Metrics		 - - - - - -
Valuation Ratios		 - - - - - -
Leverage & Solvency		 - - - - - -
Liquidity Ratios		 - - - - - -
Cash Flow Metrics		 - - - - - -
Efficiency Ratios		 - - - - - -
Capital & Investment Metrics		 - - - - - -
Earnings Adjustments		 - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $1.18 $2.03 $1.53 $1.24
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 394.01M 390.10M 390.07M 506.10M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $1.18 $2.03 $1.53 $1.24
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 394.01M 390.10M 390.07M 506.10M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $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 499.45M
Debt Service Ratios		 - - - - - -
Payout Ratios		 - - - - - -

Quarterly Metrics And Ratios for Blue Owl Capital

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - 511,048,237.00 499,448,499.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 511,048,237.00 499,448,499.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - -0.26 -0.11
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 71.45% -30.95% 10.01% -0.83% 2.49% -16.71% -9.98% 27.48% -1.98% - -56.54%
EBITDA Growth		 30.05% -53.05% 12.05% -5.98% -0.38% -54.53% 31.59% 16.49% -29.21% - -137.93%
EBIT Growth		 31.58% -50.25% 14.88% -1.74% -0.55% -50.34% 32.43% 24.85% -25.36% - -132.13%
NOPAT Growth		 29.49% -46.14% 12.50% 1.32% -2.71% -17.04% 39.62% 14.58% -21.11% - -123.00%
Net Income Growth		 -18.30% 896.28% 12.35% -39.07% -31.54% -33.57% 39.81% 12.51% -1.75% - -134.34%
EPS Growth		 -20.90% -2.04% -9.62% -38.00% -33.96% -16.67% 4.26% -12.90% -28.57% - -110.20%
Operating Cash Flow Growth		 274.51% 336.81% 859.86% -246.29% -101.97% 7.76% -91.23% 239.13% -3,611.79% - 2,383.79%
Free Cash Flow Firm Growth		 29.49% 0.00% 104.33% 98.09% -7,212.76% 99.01% -931.15% -1,245.59% 75.65% - 146.74%
Invested Capital Growth		 0.00% 0.00% -2.91% 3.34% 0.00% 2.38% 38.61% 26.09% 25.08% - -12.80%
Revenue Q/Q Growth		 2.43% 26.04% -45.86% 41.87% 5.87% 2.43% -14.39% 40.26% -20.30% - 24.85%
EBITDA Q/Q Growth		 1.89% -2.09% -5.98% 0.23% 7.97% -55.31% 187.36% -12.04% -37.33% - 76.35%
EBIT Q/Q Growth		 4.44% -0.19% -7.75% 2.18% 5.71% -50.16% 159.26% -4.54% -39.49% - 77.40%
NOPAT Q/Q Growth		 1.81% 16.85% -17.70% 3.48% -2.23% -0.36% 38.50% -15.07% -32.69% - 74.21%
Net Income Q/Q Growth		 8.11% -1.58% -14.49% -33.04% 21.47% -4.50% 79.98% -46.11% 6.08% - 57.65%
EPS Q/Q Growth		 6.00% -9.43% -2.08% -34.04% 12.90% 14.29% 22.50% -44.90% -7.41% - -121.74%
Operating Cash Flow Q/Q Growth		 -63.96% 131.28% 7.33% -263.54% 99.51% 12,740.39% -91.27% 2,494.81% -112.96% - 17.56%
Free Cash Flow Firm Q/Q Growth		 101.49% -6,875.16% 104.42% -142.86% -5,441.76% -169.12% -3,600.97% 30.61% -0.27% - 165.62%
Invested Capital Q/Q Growth		 -100.00% 0.00% -1.41% 3.83% 2.19% 0.00% 33.48% -5.54% 1.37% - -6.52%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 47.78% 37.12% 64.46% 45.54% 46.44% 20.26% 68.01% 42.65% 33.54% - -32.50%
EBIT Margin		 49.57% 39.25% 66.87% 48.17% 48.09% 23.40% 70.87% 48.23% 36.62% - -29.37%
Profit (Net Income) Margin		 53.03% 41.41% 65.40% 30.87% 35.42% 33.03% 69.43% 26.67% 35.50% - -30.69%
Tax Burden Percent		 112.48% 96.11% 97.08% 63.81% 78.77% 76.77% 97.96% 62.79% 96.95% - 104.52%
Interest Burden Percent		 95.11% 109.77% 100.74% 100.45% 93.50% 183.82% 100.00% 88.07% 100.00% - 100.00%
Effective Tax Rate		 1.42% 0.00% 2.79% 1.26% 1.89% 0.24% 2.04% 1.04% 3.05% - 0.00%
Return on Invested Capital (ROIC)		 0.00% 10.38% 8.01% 5.79% 10.36% 4.93% 6.68% 4.42% 3.65% - -1.47%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 10.13% 8.00% 4.86% 9.42% 4.35% 6.68% 3.47% 3.65% - -1.68%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 11.91% 9.56% 5.88% 12.23% 5.28% 8.27% 4.22% 4.64% - -2.09%
Return on Equity (ROE)		 0.00% 22.29% 17.57% 11.67% 22.60% 10.21% 14.95% 8.64% 8.29% - -3.57%
Cash Return on Invested Capital (CROIC)		 0.00% -188.49% 8.99% 2.74% -188.47% 3.24% -27.08% -17.53% -17.09% - 14.77%
Operating Return on Assets (OROA)		 0.00% 4.58% 7.94% 5.65% 5.49% 2.60% 6.63% 4.92% 3.66% - -2.05%
Return on Assets (ROA)		 0.00% 4.83% 7.76% 3.62% 4.05% 3.68% 6.49% 2.72% 3.55% - -2.14%
Return on Common Equity (ROCE)		 0.00% 22.29% 17.57% 11.67% 22.60% 10.21% 14.95% 8.64% 8.29% - -3.57%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 0.00% 13.49% 12.26% 11.18% 0.00% 8.63% 8.89% 8.94% - 2.57%
Net Operating Profit after Tax (NOPAT)		 190 222 183 189 185 184 255 217 146 - -38
NOPAT Margin		 46.48% 43.09% 65.49% 47.77% 44.12% 42.92% 69.43% 42.04% 35.50% - -20.56%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.24% 0.00% 0.93% 0.94% 0.58% 0.00% 0.95% 0.00% - 0.20%
SG&A Expenses to Revenue		 9.86% 8.19% 13.89% 10.13% 9.36% 9.10% 0.00% 8.47% 0.00% - 17.59%
Operating Expenses to Revenue		 50.43% 60.75% 33.13% 51.83% 51.91% 76.60% 29.13% 51.77% 63.38% - 129.37%
Earnings before Interest and Taxes (EBIT)		 203 202 187 191 202 100 260 249 150 - -54
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 195 191 180 180 195 87 250 220 138 - -60
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.86 0.92 0.95 0.93 1.00 0.75 0.74 0.66 - 0.61
Price to Tangible Book Value (P/TBV)		 0.00 0.86 0.92 0.95 0.93 1.00 0.75 0.74 0.66 - 0.61
Price to Revenue (P/Rev)		 3.14 3.29 3.47 3.56 3.46 3.91 3.89 3.54 3.17 - 3.62
Price to Earnings (P/E)		 6.07 6.54 7.18 8.13 8.85 11.42 10.07 9.25 8.34 - 12.09
Dividend Yield		 12.69% 12.06% 11.84% 11.75% 12.24% 11.38% 11.53% 11.51% 12.61% - 13.65%
Earnings Yield		 16.47% 15.28% 13.94% 12.30% 11.31% 8.76% 9.93% 10.81% 11.99% - 8.27%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.89 0.91 0.95 0.94 0.96 0.86 0.86 0.83 - 0.79
Enterprise Value to Revenue (EV/Rev)		 0.00 7.36 7.35 7.96 7.97 8.47 10.40 9.11 8.98 - 10.31
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 15.71 15.52 17.05 17.19 20.11 21.97 19.80 21.06 - 90.82
Enterprise Value to EBIT (EV/EBIT)		 0.00 15.25 14.98 16.28 16.42 19.00 20.75 18.31 19.20 - 62.76
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 15.41 14.87 16.03 16.23 17.42 18.96 17.26 17.76 - 67.48
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 10.22 7.68 41.00 100.11 80.56 0.00 9.73 10.44 - 4.64
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 9.99 35.24 0.00 30.09 0.00 0.00 0.00 - 5.01
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 1.18 1.14 1.24 1.30 1.25 1.31 1.20 1.25 - 1.18
Long-Term Debt to Equity		 0.00 1.18 1.14 1.24 1.30 1.25 1.31 1.20 1.25 - 1.18
Financial Leverage		 0.00 1.18 1.19 1.21 1.30 1.21 1.24 1.22 1.27 - 1.25
Leverage Ratio		 0.00 2.24 2.26 2.28 2.36 2.29 2.30 2.29 2.34 - 2.31
Compound Leverage Factor		 0.00 2.46 2.28 2.29 2.21 4.20 2.30 2.01 2.34 - 2.31
Debt to Total Capital		 0.00% 54.03% 53.32% 55.30% 56.49% 55.61% 56.76% 54.56% 55.59% - 54.17%
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%
Long-Term Debt to Total Capital		 0.00% 54.03% 53.32% 55.30% 56.49% 55.61% 56.76% 54.56% 55.59% - 54.17%
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%
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%
Common Equity to Total Capital		 0.00% 45.97% 46.68% 44.70% 43.51% 44.39% 43.24% 45.44% 44.41% - 45.83%
Debt to EBITDA		 0.00 9.58 9.08 9.93 10.37 11.62 14.48 12.59 14.09 - 61.95
Net Debt to EBITDA		 0.00 8.68 8.20 9.42 9.73 10.83 13.75 12.10 13.62 - 58.90
Long-Term Debt to EBITDA		 0.00 9.58 9.08 9.93 10.37 11.62 14.48 12.59 14.09 - 61.95
Debt to NOPAT		 0.00 9.39 8.69 9.33 9.80 10.06 12.49 10.97 11.88 - 46.03
Net Debt to NOPAT		 0.00 8.52 7.85 8.86 9.19 9.38 11.86 10.54 11.49 - 43.76
Long-Term Debt to NOPAT		 0.00 9.39 8.69 9.33 9.80 10.06 12.49 10.97 11.88 - 46.03
Noncontrolling Interest Sharing Ratio		 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)		 190 -12,876 569 -244 -13,518 -128 -4,730 -3,282 -3,291 - 2,253
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%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 4.78 0.00 0.00 0.00 -31.85 0.00 0.00 - 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 3.73 0.00 0.00 0.00 0.26 0.00 0.00 - 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 3.73 0.00 0.00 0.00 0.26 0.00 0.00 - 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.12 0.12 0.12 0.11 0.11 0.09 0.10 0.10 - 0.07
Fixed Asset Turnover		 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 13,098 12,914 13,409 13,703 13,411 17,900 16,908 17,140 - 15,609
Invested Capital Turnover		 0.00 0.24 0.12 0.12 0.23 0.11 0.10 0.11 0.10 - 0.07
Increase / (Decrease) in Invested Capital		 0.00 13,098 -386 433 13,703 312 4,986 3,499 3,437 - -2,291
Enterprise Value (EV)		 0.00 11,610 11,772 12,735 12,826 12,907 15,423 14,514 14,240 - 12,394
Market Capitalization		 4,718 5,192 5,554 5,698 5,564 5,955 5,773 5,647 5,029 - 4,356
Book Value per Share		 $0.00 $15.45 $15.47 $15.38 $15.28 $15.26 $15.15 $15.03 $14.89 - $14.32
Tangible Book Value per Share		 $0.00 $15.45 $15.47 $15.38 $15.28 $15.26 $15.15 $15.03 $14.89 - $14.32
Total Capital		 0.00 13,098 12,914 13,409 13,703 13,411 17,900 16,908 17,140 - 15,609
Total Debt		 0.00 7,077 6,886 7,415 7,741 7,458 10,161 9,226 9,529 - 8,455
Total Long-Term Debt		 0.00 7,077 6,886 7,415 7,741 7,458 10,161 9,226 9,529 - 8,455
Net Debt		 0.00 6,418 6,219 7,037 7,262 6,952 9,649 8,866 9,211 - 8,038
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Net Nonoperating Expense (NNE)		 -27 8.65 0.25 67 36 42 0.00 79 0.00 - 19
Net Nonoperating Obligations (NNO)		 0.00 7,077 6,886 7,415 7,741 7,458 10,161 9,226 9,529 - 8,455
Total Depreciation and Amortization (D&A)		 -7.30 -11 -6.74 -10 -6.91 -13 -11 -29 -13 - -5.78
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.53 $0.48 $0.47 $0.31 $0.35 $0.40 $0.49 $0.27 $0.25 $0.23 ($0.05)
Adjusted Weighted Average Basic Shares Outstanding		 389.70M 390.10M 389.73M 390.10M 390.22M 390.07M 494.83M 511.05M 511.05M 506.10M 498.90M
Adjusted Diluted Earnings per Share		 $0.53 $0.48 $0.47 $0.31 $0.35 $0.40 $0.49 $0.27 $0.25 $0.23 ($0.05)
Adjusted Weighted Average Diluted Shares Outstanding		 389.70M 390.10M 389.73M 390.10M 390.22M 390.07M 494.83M 511.05M 511.05M 506.10M 498.90M
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		 389.73M 389.73M 389.73M 390.22M 390.22M 510.85M 511.05M 511.05M 511.05M 499.45M 496.31M
Normalized Net Operating Profit after Tax (NOPAT)		 190 155 183 189 185 184 251 217 146 - -36
Normalized NOPAT Margin		 46.48% 30.16% 65.49% 47.77% 44.12% 42.92% 68.36% 42.04% 35.62% - -19.31%
Pre Tax Income Margin		 47.14% 43.09% 67.37% 48.38% 44.97% 43.02% 70.87% 42.48% 36.62% - -29.37%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 1.57 0.00 0.00 0.00 1.75 0.00 0.00 - 0.00
NOPAT to Interest Expense		 0.00 0.00 1.53 0.00 0.00 0.00 1.72 0.00 0.00 - 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 1.57 0.00 0.00 0.00 1.75 0.00 0.00 - 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 1.53 0.00 0.00 0.00 1.72 0.00 0.00 - 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 77.62% 77.32% 78.15% 87.01% 97.72% 110.18% 98.54% 101.89% 106.91% - 417.82%
Augmented Payout Ratio		 84.23% 81.61% 79.62% 87.01% 97.72% 110.18% 98.54% 101.89% 106.91% - 517.66%

Financials Breakdown Chart

Key Financial Trends

Blue Owl Capital Corp (OBDC) delivered positive net income across all four 2025 quarters, but topline revenue and some cash-flow metrics showed notable volatility tied to investment gains and financing activity. Below are the key takeaways for retail investors, highlighting the most important developments from the last four years of quarterly statements.

  • Net income attributable to common shareholders remained positive in every 2025 quarter: Q1 $242.6M, Q2 $129.8M, Q3 $128.2M, and Q4 $89.4M, with per-share results reflecting solid profitability despite swings in the quarterly mix.
  • Operating cash flow was strong in 2025, including about $1.03B from continuing operating activities in Q2 2025 and about $616.4M in Q4 2025, underscoring meaningful cash generation from core operations.
  • Balance sheet shows a robust equity base, with Total Common Equity around $7.6–$7.7B across 2025 (e.g., $7.61B in Q3 2025, rising toward $7.74B in early 2025), supporting financial stability.
  • Cash dividends to common shareholders remained sizable and steady, typically in the $168M–$199M per quarter range, contributing to shareholder returns.
  • The company accessed debt markets in 2025 to bolster liquidity: Issuance of Debt was about $1.57B in Q3 2025 and $0.65B in Q4 2025, indicating continued financing flexibility to support operations and investments.
  • Total non-interest income is highly market-driven, with volatility evident. For example, Total Non-Interest Income swung to about $4.0–$7.7M in several quarters, while Q4 2025 showed a large negative swing in net realized/unrealized capital gains (about -$244.8M), reflecting market conditions rather than ongoing core earnings alone.
  • Liabilities rose modestly through 2025, with Total Liabilities increasing from about $9.72B in Q2 2025 to roughly $9.99B in Q3 2025, implying a higher leverage base that warrants monitoring as rates and refinancing risk evolve.
  • Net Cash From Continuing Operating Activities was negative in Q3 2025 (about -$189.2M), signaling quarterly working-capital headwinds even as reported net income remained positive.
  • Q4 2025 Revenue dropped sharply to about $147.6M, a substantial trough versus prior 2025 quarters, signaling a topline concentration risk or quarter-specific factors that could weigh on near-term performance.
  • Q4 2025 EPS declined to about $0.23 (basic and diluted), marking a notable drop from earlier 2025 levels and highlighting earnings volatility despite positive net income.
  • Q4 2025 showed a large negative swing in investment-related metrics (net realized & unrealized capital gains around -$244.8M and Total Non-Interest Income turned negative), underscoring market-driven pressure on non-core earnings and potential upside risk if markets improve.
05/14/26 06:11 AM ETAI Generated. May Contain Errors.

Blue Owl Capital Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Blue Owl Capital's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

In the past 5 years, Blue Owl Capital's net income has ranged from $387.74 million in 2020 to $793.31 million in 2023, and is currently $404.98 million as of their latest financial filing in 2025. Check out Blue Owl Capital's forecast to explore projected trends and price targets.

Over the last 5 years, Blue Owl Capital's total revenue changed from $607.72 million in 2020 to $1.44 billion in 2025, a change of 137.2%.

Blue Owl Capital's total liabilities were at $9.79 billion at the end of 2025, a 23.7% increase from 2024, and a 33.0% increase since 2021.

In the past 4 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 $558.70 million as of their latest financial filing in 2025.


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Financial statements for NYSE:OBDC last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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