Blue Owl Capital (OWL) Financials

$18.73 -0.07 (-0.38%)

As of 12:51 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	2019	2020	2021	2022	2023	2024
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	23	-78	-376	-9.29	54	110
Consolidated Net Income / (Loss)	20	-82	-1,802	-40	221	420
Net Income / (Loss) Continuing Operations	20	-82	-1,802	-40	221	420
Total Pre-Tax Income	21	-83	-1,867	-50	246	469
Total Operating Income	27	-59	-927	-2.48	318	607
Total Gross Profit	79	9.08	-673	475	861	1,278
Total Revenue	191	250	824	1,370	1,732	2,295
Operating Revenue	191	250	824	1,370	1,732	2,295
Total Cost of Revenue	112	241	1,497	895	871	1,017
Operating Cost of Revenue	112	241	1,497	895	871	1,017
Total Operating Expenses	52	68	254	478	543	671
Selling, General & Admin Expense	52	68	140	221	243	413
Amortization Expense	0.00	0.00	114	257	300	258
Total Other Income / (Expense), net	-6.66	-24	-940	-47	-71	-138
Interest Expense	6.66	24	45	60	76	122
Interest & Investment Income	-	0.00	-3.14	4.23	26	44
Other Income / (Expense), net	0.00	0.00	-892	8.71	-22	-60
Income Tax Expense	0.24	-0.10	-65	-9.38	26	49
Net Income / (Loss) Attributable to Noncontrolling Interest	-2.49	-4.61	-1,426	-31	166	311
Basic Earnings per Share	$0.00	$0.00	$0.00	($0.02)	$0.12	$0.20
Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	433.43M	463.23M	549.01M
Diluted Earnings per Share	$0.00	$0.00	$0.00	($0.02)	$0.10	$0.20
Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	433.43M	478.01M	558.43M
Weighted Average Basic & Diluted Shares Outstanding	-	-	1.40B	1.41B	1.43B	1.54B
Cash Dividends to Common per Share	$0.00	$0.00	$0.13	$0.43	$0.55	$0.68

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	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	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	6/30/2025
Net Income / (Loss) Attributable to Common Shareholders	1.59	8.32	13	15	18	25	34	30	21	7.43	17
Consolidated Net Income / (Loss)	1.76	42	34	64	81	112	138	99	71	37	71
Net Income / (Loss) Continuing Operations	1.76	42	34	64	81	112	138	99	71	37	71
Total Pre-Tax Income	-4.13	48	39	74	84	127	156	112	74	40	84
Total Operating Income	28	66	41	93	117	156	173	140	139	77	99
Total Gross Profit	148	193	209	216	243	289	323	330	337	358	377
Total Revenue	396	391	417	430	494	513	550	601	631	683	703
Operating Revenue	396	391	417	430	494	513	550	601	631	683	703
Total Cost of Revenue	248	198	208	214	251	225	227	271	294	326	326
Operating Cost of Revenue	248	198	208	214	251	225	227	271	294	326	326
Total Operating Expenses	120	127	167	122	127	133	150	190	198	280	278
Selling, General & Admin Expense	55	56	51	65	70	77	93	121	121	191	188
Amortization Expense	65	71	116	57	57	56	57	69	77	89	89
Total Other Income / (Expense), net	-32	-18	-1.82	-19	-32	-29	-16	-28	-65	-37	-15
Interest Expense	17	18	19	20	18	22	33	34	33	39	42
Interest & Investment Income	4.94	5.40	8.64	4.46	7.88	7.93	16	16	3.59	3.53	8.60
Other Income / (Expense), net	-20	-4.91	8.72	-4.09	-22	-14	0.00	-9.51	-36	-1.96	19
Income Tax Expense	-5.89	6.44	5.40	11	3.11	15	18	13	3.02	3.67	14
Net Income / (Loss) Attributable to Noncontrolling Interest	0.16	34	21	48	63	87	104	70	50	29	53
Basic Earnings per Share	$0.01	$0.02	$0.03	$0.03	$0.04	$0.05	$0.06	$0.05	$0.04	$0.01	$0.03
Weighted Average Basic Shares Outstanding	433.43M	456.19M	459.40M	466.38M	463.23M	488.44M	530.10M	575.25M	549.01M	625.85M	649.69M
Diluted Earnings per Share	$0.01	$0.02	$0.02	$0.03	$0.03	$0.04	$0.06	$0.04	$0.06	$0.00	$0.02
Weighted Average Diluted Shares Outstanding	433.43M	461.91M	1.43B	482.57M	478.01M	498.74M	539.39M	1.49B	558.43M	638.49M	656.06M
Weighted Average Basic & Diluted Shares Outstanding	1.41B	1.41B	1.41B	1.41B	1.43B	1.43B	1.46B	1.49B	1.54B	1.55B	1.55B
Cash Dividends to Common per Share	-	$0.13	$0.14	$0.14	-	$0.14	$0.18	$0.18	-	$0.18	$0.23

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	2019	2020	2021	2022	2023	2024
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	-0.12	4.29	31	26	36	48
Net Cash From Operating Activities	44	5.23	282	728	949	1,000
Net Cash From Continuing Operating Activities	44	5.23	282	728	949	1,000
Net Income / (Loss) Continuing Operations	20	-82	-1,802	-40	221	420
Consolidated Net Income / (Loss)	20	-82	-1,802	-40	221	420
Depreciation Expense	0.83	0.67	0.67	2.30	10	17
Amortization Expense	0.23	0.79	117	261	305	265
Non-Cash Adjustments To Reconcile Net Income	0.00	0.00	1,272	437	379	354
Changes in Operating Assets and Liabilities, net	23	86	694	68	34	-57
Net Cash From Investing Activities	-1.17	-0.65	-1,599	-485	-118	-638
Net Cash From Continuing Investing Activities	-1.17	-0.65	-1,599	-485	-118	-638
Purchase of Property, Plant & Equipment	-1.17	-0.65	-5.26	-66	-68	-64
Acquisitions	0.00	0.00	-1,579	-114	-26	-445
Purchase of Investments	0.00	-30	-329	-309	-86	-378
Sale and/or Maturity of Investments	0.00	30	314	3.88	62	250
Net Cash From Financing Activities	-43	-0.30	1,348	-218	-795	-313
Net Cash From Continuing Financing Activities	-43	-0.30	1,348	-218	-795	-313
Repayment of Debt	-88	-172	-596	-331	-1,006	-1,270
Repurchase of Common Equity	0.00	0.00	-126	-79	0.00	-0.27
Payment of Dividends	-320	-78	-583	-608	-794	-1,104
Issuance of Debt	345	241	1,390	775	1,055	2,170
Issuance of Common Equity	0.00	9.26	16	27	48	38
Other Financing Activities, net	20	0.00	1,247	-2.27	-98	-147
Cash Interest Paid	2.70	23	25	48	72	101
Cash Income Taxes Paid	0.36	0.14	4.35	4.78	14	22

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	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	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	6/30/2025
Net Change in Cash & Equivalents	29	-30	3.41	35	27	52	281	-321	36	-54	20
Net Cash From Operating Activities	276	121	238	282	308	47	302	326	324	18	423
Net Cash From Continuing Operating Activities	276	121	238	282	308	47	302	326	324	18	423
Net Income / (Loss) Continuing Operations	1.76	42	34	64	81	112	138	99	71	37	71
Consolidated Net Income / (Loss)	1.76	42	34	64	81	112	138	99	71	37	71
Depreciation Expense	1.61	1.92	2.58	2.90	2.82	2.81	3.96	4.94	4.95	5.56	6.12
Amortization Expense	66	72	117	58	58	58	59	71	79	91	91
Non-Cash Adjustments To Reconcile Net Income	130	82	83	95	119	97	49	87	122	172	166
Changes in Operating Assets and Liabilities, net	77	-77	1.82	62	47	-222	53	64	48	-288	88
Net Cash From Investing Activities	-139	-34	-23	-37	-24	-15	-135	-442	-46	-197	-65
Net Cash From Continuing Investing Activities	-139	-34	-23	-37	-24	-15	-135	-442	-46	-197	-65
Purchase of Property, Plant & Equipment	-24	-5.67	-10	-19	-34	-6.14	-33	-11	-14	-13	-10
Acquisitions	-	-	-	-26	-0.02	0.00	-	-407	-9.80	-205	-40
Purchase of Investments	-116	-38	-12	-18	-18	-13	-274	-23	-68	-22	-20
Sale and/or Maturity of Investments	0.85	9.00	-0.36	26	28	3.75	200	0.08	46	43	4.24
Net Cash From Financing Activities	-108	-117	-212	-209	-257	20	113	-205	-242	125	-337
Net Cash From Continuing Financing Activities	-108	-117	-212	-209	-257	20	113	-205	-242	125	-337
Repayment of Debt	-94	-215	-266	-225	-301	-330	-845	-5.08	-90	-360	-300
Payment of Dividends	-170	-187	-200	-203	-204	-270	-268	-280	-285	-378	-363
Issuance of Debt	192	355	250	215	235	720	1,230	90	130	960	350
Issuance of Common Equity	8.64	8.93	13	10	17	15	7.65	7.45	8.27	9.24	15
Other Financing Activities, net	-0.52	-78	-8.67	-6.38	-4.26	-115	-11	-17	-3.96	-107	-37
Cash Interest Paid	20	11	24	12	24	11	29	9.89	52	13	61
Cash Income Taxes Paid	0.16	1.83	7.42	4.63	0.37	5.08	8.33	4.87	3.87	5.21	4.79

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	2020	2021	2022	2023	2024
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	122	8,266	8,893	8,818	10,992
Total Current Assets	12	43	426	471	701
Cash & Equivalents	12	43	68	104	152
Accounts Receivable	-	-	358	367	549
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	110	8,224	8,467	8,346	10,292
Long-Term Investments	-	12	317	344	487
Goodwill	0.00	4,132	4,205	4,224	4,699
Intangible Assets	0.00	2,611	2,405	2,110	2,903
Noncurrent Deferred & Refundable Income Taxes	0.80	636	757	782	1,245
Other Noncurrent Operating Assets	109	832	782	886	957
Total Liabilities & Shareholders' Equity	122	8,266	8,893	8,818	10,992
Total Liabilities	623	2,419	3,344	3,540	5,186
Total Current Liabilities	58	68	127	139	166
Accounts Payable	58	68	127	139	166
Total Noncurrent Liabilities	564	2,350	3,218	3,401	5,020
Long-Term Debt	356	1,174	1,625	1,681	2,588
Noncurrent Deferred & Payable Income Tax Liabilities	0.00	49	42	34	37
Noncurrent Employee Benefit Liabilities	208	156	310	371	424
Other Noncurrent Operating Liabilities	0.00	972	1,241	1,315	1,971
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-501	5,848	5,549	5,278	5,806
Total Preferred & Common Equity	0.00	1,664	1,605	1,528	2,128
Total Common Equity	0.00	1,664	1,605	1,528	2,128
Common Stock	0.00	2,161	2,294	2,411	3,269
Retained Earnings	0.00	-498	-689	-883	-1,142
Accumulated Other Comprehensive Income / (Loss)	-	-	-	-	0.00
Noncontrolling Interest	-501	4,184	3,944	3,750	3,678

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	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025
Total Assets	8,792	8,763	8,752	8,771	8,985	9,661	10,752	12,286	12,279
Total Current Assets	40	38	377	423	540	873	641	763	740
Cash & Equivalents	40	38	41	77	156	437	116	98	118
Accounts Receivable	-	-	336	346	384	436	526	665	622
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	8,753	8,725	8,374	8,348	8,446	8,788	10,110	11,524	11,539
Long-Term Investments	201	347	362	353	358	431	456	466	486
Goodwill	4,205	4,205	4,205	4,225	4,224	4,298	4,704	5,624	5,624
Intangible Assets	2,470	2,335	2,219	2,168	2,054	2,105	2,974	3,158	3,069
Noncurrent Deferred & Refundable Income Taxes	733	746	760	765	930	1,047	1,042	1,261	1,365
Other Noncurrent Operating Assets	1,143	1,093	829	837	880	906	933	1,013	995
Total Liabilities & Shareholders' Equity	8,792	8,763	8,752	8,771	8,985	9,661	10,752	12,286	12,279
Total Liabilities	3,157	3,294	3,380	3,453	3,814	4,442	4,873	5,857	5,919
Total Current Liabilities	147	156	134	136	152	150	207	233	155
Accounts Payable	147	156	134	136	152	150	207	233	155
Total Noncurrent Liabilities	3,010	3,137	3,247	3,317	3,662	4,292	4,666	5,624	5,764
Long-Term Debt	1,526	1,766	1,755	1,746	2,072	2,459	2,548	3,190	3,242
Noncurrent Deferred & Payable Income Tax Liabilities	41	40	36	36	33	34	41	40	39
Noncurrent Employee Benefit Liabilities	246	145	217	290	157	224	340	235	335
Other Noncurrent Operating Liabilities	1,197	1,187	1,238	1,245	1,400	1,576	1,737	2,158	2,149
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	5,635	5,469	5,372	5,318	5,172	5,218	5,879	6,429	6,360
Total Preferred & Common Equity	1,655	1,590	1,571	1,542	1,646	1,747	2,004	2,336	2,351
Total Common Equity	1,655	1,590	1,571	1,542	1,646	1,747	2,004	2,336	2,351
Common Stock	2,293	2,329	2,360	2,379	2,569	2,730	3,058	3,580	3,716
Retained Earnings	-638	-739	-789	-837	-923	-983	-1,054	-1,244	-1,368
Accumulated Other Comprehensive Income / (Loss)	-	-	-	-	-	-	-	-	2.43
Noncontrolling Interest	3,980	3,880	3,800	3,776	3,525	3,471	3,875	4,094	4,009

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

Metric	2019	2020	2021	2022	2023	2024
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-
Revenue Growth	0.00%	30.90%	229.80%	66.25%	26.42%	32.56%
EBITDA Growth	0.00%	-301.50%	-2,870.17%	115.86%	126.54%	35.68%
EBIT Growth	0.00%	-314.59%	-2,997.45%	100.34%	4,647.93%	85.06%
NOPAT Growth	0.00%	-251.98%	-1,478.94%	99.73%	16,484.77%	90.91%
Net Income Growth	0.00%	-502.84%	-2,086.13%	97.77%	648.72%	90.44%
EPS Growth	0.00%	0.00%	0.00%	0.00%	600.00%	100.00%
Operating Cash Flow Growth	0.00%	-88.12%	5,281.31%	158.63%	30.30%	5.31%
Free Cash Flow Firm Growth	0.00%	0.00%	-6,841.35%	102.28%	217.84%	-224.66%
Invested Capital Growth	0.00%	0.00%	4,554.48%	-2.56%	-4.09%	19.12%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	8.47%	6.03%	6.36%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	21.52%	15.15%	3.85%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	127.41%	41.57%	1.52%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	-106.95%	38.95%	3.54%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	27.38%	56.20%	-2.35%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-115.38%	25.00%	17.65%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	87.58%	20.07%	3.52%	1.59%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	14.59%	-0.88%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	-1.90%	-1.86%	-1.26%
Profitability Metrics	-	-	-	-	-	-
Gross Margin	41.43%	3.64%	-81.70%	34.68%	49.72%	55.67%
EBITDA Margin	14.89%	-22.92%	-206.45%	19.70%	35.30%	36.13%
Operating Margin	14.34%	-23.51%	-112.55%	-0.18%	18.35%	26.43%
EBIT Margin	14.34%	-23.51%	-220.79%	0.45%	17.08%	23.84%
Profit (Net Income) Margin	10.72%	-33.00%	-218.75%	-2.94%	12.75%	18.32%
Tax Burden Percent	98.84%	99.88%	96.51%	81.09%	89.61%	89.60%
Interest Burden Percent	75.66%	140.55%	102.66%	-796.64%	83.32%	85.74%
Effective Tax Rate	1.16%	0.00%	0.00%	0.00%	10.39%	10.40%
Return on Invested Capital (ROIC)	0.00%	0.00%	-19.06%	-0.03%	4.28%	7.62%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	-176.58%	-3.29%	-0.90%	-0.12%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	-48.36%	-0.68%	-0.20%	-0.04%
Return on Equity (ROE)	0.00%	16.45%	-67.42%	-0.71%	4.08%	7.59%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	-111.56%	2.57%	8.46%	-9.83%
Operating Return on Assets (OROA)	0.00%	-48.30%	-43.37%	0.07%	3.34%	5.52%
Return on Assets (ROA)	0.00%	-67.80%	-42.97%	-0.47%	2.49%	4.24%
Return on Common Equity (ROCE)	0.00%	0.00%	-20.98%	-0.20%	1.18%	2.50%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.00%	-108.34%	-2.51%	14.45%	19.76%
Net Operating Profit after Tax (NOPAT)	27	-41	-649	-1.74	285	544
NOPAT Margin	14.17%	-16.46%	-78.78%	-0.13%	16.45%	23.69%
Net Nonoperating Expense Percent (NNEP)	0.00%	23.98%	157.52%	3.26%	5.18%	7.74%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-0.02%	4.09%	6.48%
Cost of Revenue to Revenue	58.57%	96.36%	181.70%	65.32%	50.28%	44.33%
SG&A Expenses to Revenue	27.09%	27.14%	17.03%	16.11%	14.02%	17.99%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	27.09%	27.14%	30.85%	34.86%	31.37%	29.24%
Earnings before Interest and Taxes (EBIT)	27	-59	-1,819	6.23	296	547
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	28	-57	-1,701	270	611	829
Valuation Ratios	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	11.23	8.42	13.16	16.21
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.31	1.42	22.67	9.86	11.61	15.02
Price to Earnings (P/E)	10.89	0.00	0.00	0.00	370.01	314.65
Dividend Yield	0.00%	0.00%	1.25%	4.44%	3.85%	3.55%
Earnings Yield	9.18%	0.00%	0.00%	0.00%	0.27%	0.32%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	3.44	2.75	3.85	5.17
Enterprise Value to Revenue (EV/Rev)	0.00	0.80	29.11	13.65	14.49	17.47
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	69.27	41.05	48.36
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	3,001.08	84.85	73.29
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	88.10	73.77
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	38.05	85.15	25.66	26.43	40.13
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	1.73	0.00	105.63	44.61	0.00
Leverage & Solvency	-	-	-	-	-	-
Debt to Equity	0.00	-0.71	0.20	0.29	0.32	0.45
Long-Term Debt to Equity	0.00	-0.71	0.20	0.29	0.32	0.45
Financial Leverage	0.00	-0.69	0.27	0.21	0.23	0.29
Leverage Ratio	0.00	-0.24	1.57	1.51	1.64	1.79
Compound Leverage Factor	0.00	-0.34	1.61	-12.00	1.36	1.53
Debt to Total Capital	0.00%	-246.17%	16.72%	22.65%	24.16%	30.84%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	-246.17%	16.72%	22.65%	24.16%	30.84%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	346.17%	59.59%	54.98%	53.88%	43.82%
Common Equity to Total Capital	0.00%	0.00%	23.69%	22.37%	21.96%	25.35%
Debt to EBITDA	0.00	-6.22	-0.69	6.02	2.75	3.12
Net Debt to EBITDA	0.00	-6.02	-0.66	4.59	2.02	2.35
Long-Term Debt to EBITDA	0.00	-6.22	-0.69	6.02	2.75	3.12
Debt to NOPAT	0.00	-8.67	-1.81	-934.80	5.90	4.76
Net Debt to NOPAT	0.00	-8.39	-1.72	-713.11	4.33	3.59
Long-Term Debt to NOPAT	0.00	-8.67	-1.81	-934.80	5.90	4.76
Altman Z-Score	0.00	0.34	3.92	2.51	3.62	4.28
Noncontrolling Interest Sharing Ratio	0.00%	100.00%	68.88%	71.32%	71.06%	67.02%
Liquidity Ratios	-	-	-	-	-	-
Current Ratio	0.00	0.20	0.62	3.37	3.40	4.22
Quick Ratio	0.00	0.20	0.62	3.37	3.40	4.22
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	115	-7,773	177	562	-701
Operating Cash Flow to CapEx	3,756.52%	802.76%	5,353.70%	1,111.47%	1,397.75%	1,557.25%
Free Cash Flow to Firm to Interest Expense	0.00	4.84	-171.59	2.95	7.43	-5.75
Operating Cash Flow to Interest Expense	6.61	0.22	6.22	12.13	12.54	8.20
Operating Cash Flow Less CapEx to Interest Expense	6.44	0.19	6.10	11.04	11.64	7.67
Efficiency Ratios	-	-	-	-	-	-
Asset Turnover	0.00	2.05	0.20	0.16	0.20	0.23
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	4.78	5.01
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	0.00	4.12	23.62	9.18	6.56	6.68
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	76.42	72.82
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	88.57	15.45	39.76	55.61	54.65
Cash Conversion Cycle (CCC)	0.00	-88.57	-15.45	-39.76	20.80	18.16
Capital & Investment Metrics	-	-	-	-	-	-
Invested Capital	0.00	-156	6,967	6,788	6,511	7,755
Invested Capital Turnover	0.00	-3.19	0.24	0.20	0.26	0.32
Increase / (Decrease) in Invested Capital	0.00	-156	7,123	-179	-278	1,245
Enterprise Value (EV)	0.00	199	23,983	18,691	25,090	40,108
Market Capitalization	250	356	18,679	13,507	20,108	34,480
Book Value per Share	$0.00	$0.00	$1.21	$1.15	$1.08	$1.42
Tangible Book Value per Share	$0.00	$0.00	($3.70)	($3.59)	($3.41)	($3.67)
Total Capital	0.00	-145	7,022	7,174	6,959	8,395
Total Debt	0.00	356	1,174	1,625	1,681	2,588
Total Long-Term Debt	0.00	356	1,174	1,625	1,681	2,588
Net Debt	0.00	345	1,119	1,239	1,233	1,949
Capital Expenditures (CapEx)	1.17	0.65	5.26	66	68	64
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-58	-68	231	228	383
Debt-free Net Working Capital (DFNWC)	0.00	-47	-26	299	333	535
Net Working Capital (NWC)	0.00	-47	-26	299	333	535
Net Nonoperating Expense (NNE)	6.58	41	1,153	38	64	123
Net Nonoperating Obligations (NNO)	0.00	345	1,119	1,239	1,233	1,949
Total Depreciation and Amortization (D&A)	1.05	1.46	118	264	316	282
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-23.38%	-8.29%	16.89%	13.19%	16.68%
Debt-free Net Working Capital to Revenue	0.00%	-18.73%	-3.13%	21.86%	19.20%	23.30%
Net Working Capital to Revenue	0.00%	-18.73%	-3.13%	21.86%	19.20%	23.30%
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	($0.02)	$0.12	$0.20
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	433.43M	463.23M	549.01M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	($0.02)	$0.10	$0.20
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	433.43M	478.01M	558.43M
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	1.40B	1.41B	1.43B	1.54B
Normalized Net Operating Profit after Tax (NOPAT)	27	-41	-649	-1.74	285	544
Normalized NOPAT Margin	14.17%	-16.46%	-78.78%	-0.13%	16.45%	23.69%
Pre Tax Income Margin	10.85%	-33.04%	-226.67%	-3.62%	14.23%	20.44%
Debt Service Ratios	-	-	-	-	-	-
EBIT to Interest Expense	4.11	-2.47	-40.16	0.10	3.91	4.49
NOPAT to Interest Expense	4.06	-1.73	-14.33	-0.03	3.76	4.46
EBIT Less CapEx to Interest Expense	3.93	-2.49	-40.27	-0.99	3.01	3.96
NOPAT Less CapEx to Interest Expense	3.88	-1.75	-14.45	-1.12	2.87	3.93
Payout Ratios	-	-	-	-	-	-
Dividend Payout Ratio	1,564.88%	-94.68%	-32.32%	-1,510.41%	359.70%	262.52%
Augmented Payout Ratio	1,564.88%	-94.68%	-39.33%	-1,706.23%	359.70%	262.58%

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

Metric	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025
Period end date	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	6/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	37.08%	41.67%	27.41%	15.81%	24.91%	31.29%	31.88%	39.85%	27.80%	33.14%	27.87%
EBITDA Growth	172.52%	184.10%	117.46%	118.84%	106.59%	48.98%	38.59%	36.95%	19.74%	-14.56%	-8.37%
EBIT Growth	138.77%	506.18%	325.75%	5,756.88%	1,073.48%	130.06%	245.26%	45.74%	8.61%	-46.70%	-31.68%
NOPAT Growth	-57.74%	461.49%	601.34%	4,597.77%	474.40%	138.97%	328.18%	54.69%	18.44%	-48.89%	-45.51%
Net Income Growth	113.08%	283.43%	475.46%	734.60%	4,526.32%	166.48%	305.58%	56.39%	-12.49%	-67.26%	-48.79%
EPS Growth	-93.75%	166.67%	0.00%	0.00%	200.00%	100.00%	200.00%	33.33%	100.00%	-100.00%	-66.67%
Operating Cash Flow Growth	78.92%	29.83%	56.34%	36.15%	11.70%	-60.96%	26.97%	15.72%	5.08%	-62.78%	39.77%
Free Cash Flow Firm Growth	0.00%	102.65%	114.99%	130.69%	96.74%	44.37%	-81.61%	-399.62%	-384.99%	-974.98%	-3,247.56%
Invested Capital Growth	-2.56%	-1.74%	-4.66%	-4.13%	-4.09%	-1.76%	1.27%	18.39%	19.12%	34.55%	32.15%
Revenue Q/Q Growth	6.61%	-1.14%	6.64%	3.05%	14.99%	3.91%	7.11%	9.28%	5.07%	8.26%	2.87%
EBITDA Q/Q Growth	9.84%	79.35%	25.31%	-11.35%	3.69%	29.35%	16.56%	-12.40%	-9.34%	-7.71%	25.02%
EBIT Q/Q Growth	430.01%	659.58%	-18.65%	78.83%	6.19%	48.92%	22.09%	-24.51%	-20.87%	-26.92%	56.48%
NOPAT Q/Q Growth	1,048.89%	193.89%	-38.11%	124.79%	40.48%	22.27%	10.90%	-18.79%	7.56%	-47.24%	18.23%
Net Income Q/Q Growth	117.54%	2,295.10%	-19.02%	86.58%	27.84%	37.96%	23.25%	-28.05%	-28.46%	-48.39%	92.79%
EPS Q/Q Growth	0.00%	100.00%	0.00%	50.00%	0.00%	33.33%	50.00%	-33.33%	50.00%	-100.00%	0.00%
Operating Cash Flow Q/Q Growth	33.42%	-56.16%	96.75%	18.32%	9.46%	-84.68%	539.82%	7.84%	-0.61%	-94.57%	2,302.52%
Free Cash Flow Firm Q/Q Growth	116.63%	-9.95%	103.81%	0.54%	6.61%	-33.92%	-74.04%	-1,738.29%	-1.40%	-102.89%	6.62%
Invested Capital Q/Q Growth	-1.90%	0.91%	-1.86%	-1.32%	-1.86%	3.37%	1.17%	15.36%	-1.26%	16.76%	-0.64%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	37.31%	49.46%	50.05%	50.20%	49.24%	56.21%	58.70%	54.88%	53.36%	52.31%	53.59%
EBITDA Margin	19.08%	34.62%	40.68%	35.00%	31.56%	39.29%	42.75%	34.27%	29.57%	25.21%	30.64%
Operating Margin	7.07%	16.97%	9.90%	21.75%	23.63%	30.31%	31.38%	23.26%	21.99%	11.31%	14.12%
EBIT Margin	2.04%	15.71%	11.99%	20.80%	19.21%	27.53%	31.38%	21.68%	16.33%	11.02%	16.77%
Profit (Net Income) Margin	0.44%	10.75%	8.16%	14.78%	16.43%	21.82%	25.11%	16.53%	11.25%	5.37%	10.05%
Tax Burden Percent	-42.46%	86.71%	86.30%	85.64%	96.31%	88.35%	88.35%	88.59%	95.93%	90.90%	83.67%
Interest Burden Percent	-51.10%	78.90%	78.92%	82.98%	88.83%	89.70%	90.55%	86.07%	71.86%	53.55%	71.67%
Effective Tax Rate	0.00%	13.29%	13.70%	14.36%	3.69%	11.65%	11.65%	11.41%	4.07%	9.10%	16.33%
Return on Invested Capital (ROIC)	0.99%	3.16%	1.95%	4.49%	5.93%	7.31%	8.14%	6.14%	6.79%	3.21%	3.91%
ROIC Less NNEP Spread (ROIC-NNEP)	-0.53%	1.97%	1.84%	3.22%	3.40%	5.58%	7.16%	4.65%	2.88%	1.61%	3.33%
Return on Net Nonoperating Assets (RNNOA)	-0.11%	0.46%	0.45%	0.76%	0.78%	1.54%	1.99%	1.37%	0.83%	0.58%	1.22%
Return on Equity (ROE)	0.88%	3.62%	2.40%	5.25%	6.70%	8.85%	10.13%	7.51%	7.62%	3.79%	5.13%
Cash Return on Invested Capital (CROIC)	2.57%	2.91%	6.72%	7.24%	8.46%	7.14%	5.85%	-9.59%	-9.83%	-23.43%	-22.56%
Operating Return on Assets (OROA)	0.33%	2.72%	2.20%	3.87%	3.76%	5.75%	6.77%	4.79%	3.78%	2.56%	4.00%
Return on Assets (ROA)	0.07%	1.86%	1.50%	2.75%	3.21%	4.56%	5.42%	3.65%	2.61%	1.24%	2.40%
Return on Common Equity (ROCE)	0.25%	1.03%	0.69%	1.53%	1.94%	2.69%	3.18%	2.38%	2.51%	1.30%	1.82%
Return on Equity Simple (ROE_SIMPLE)	0.00%	1.55%	4.32%	9.17%	0.00%	17.66%	22.60%	21.49%	0.00%	14.78%	0.00%
Net Operating Profit after Tax (NOPAT)	20	58	36	80	112	137	152	124	133	70	83
NOPAT Margin	4.95%	14.71%	8.54%	18.63%	22.76%	26.78%	27.73%	20.61%	21.09%	10.28%	11.81%
Net Nonoperating Expense Percent (NNEP)	1.51%	1.19%	0.12%	1.27%	2.53%	1.73%	0.98%	1.49%	3.90%	1.61%	0.59%
Return On Investment Capital (ROIC_SIMPLE)	0.27%	-	-	-	1.62%	-	-	-	1.59%	0.73%	0.87%
Cost of Revenue to Revenue	62.69%	50.54%	49.96%	49.80%	50.76%	43.79%	41.30%	45.12%	46.64%	47.69%	46.41%
SG&A Expenses to Revenue	13.89%	14.36%	12.35%	15.24%	14.11%	14.95%	17.00%	20.19%	19.23%	27.91%	26.75%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	30.24%	32.49%	40.15%	28.44%	25.61%	25.90%	27.32%	31.62%	31.37%	41.00%	39.47%
Earnings before Interest and Taxes (EBIT)	8.09	61	50	89	95	141	173	130	103	75	118
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	75	135	170	150	156	202	235	206	187	172	215
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	8.42	9.37	10.02	11.39	13.16	16.14	14.52	14.14	16.21	13.20	12.65
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	9.86	10.04	10.00	10.75	11.61	14.33	12.76	13.13	15.02	12.50	11.35
Price to Earnings (P/E)	0.00	9,590.32	1,012.88	614.14	370.01	211.80	173.06	175.72	314.65	335.26	394.36
Dividend Yield	4.44%	4.34%	4.47%	4.25%	3.85%	2.97%	3.38%	3.31%	3.55%	3.59%	3.98%
Earnings Yield	0.00%	0.01%	0.10%	0.16%	0.27%	0.47%	0.58%	0.57%	0.32%	0.30%	0.25%
Enterprise Value to Invested Capital (EV/IC)	2.75	2.94	3.11	3.41	3.85	4.70	4.47	4.35	5.17	4.15	4.04
Enterprise Value to Revenue (EV/Rev)	13.65	13.58	13.27	13.87	14.49	17.07	15.31	15.84	17.47	15.23	13.89
Enterprise Value to EBITDA (EV/EBITDA)	69.27	56.40	46.51	42.67	41.05	46.72	40.95	42.81	48.36	46.92	46.63
Enterprise Value to EBIT (EV/EBIT)	3,001.08	243.56	172.61	108.44	84.85	84.28	61.07	63.41	73.29	78.00	85.29
Enterprise Value to NOPAT (EV/NOPAT)	0.00	252.62	155.56	110.51	88.10	86.84	63.20	65.10	73.77	78.79	89.51
Enterprise Value to Operating Cash Flow (EV/OCF)	25.66	26.66	24.81	24.70	26.43	36.16	32.38	34.74	40.13	38.70	33.38
Enterprise Value to Free Cash Flow (EV/FCFF)	105.63	100.41	45.16	46.15	44.61	65.30	76.86	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.29	0.32	0.33	0.33	0.32	0.40	0.47	0.43	0.45	0.50	0.51
Long-Term Debt to Equity	0.29	0.32	0.33	0.33	0.32	0.40	0.47	0.43	0.45	0.50	0.51
Financial Leverage	0.21	0.23	0.25	0.24	0.23	0.28	0.28	0.29	0.29	0.36	0.37
Leverage Ratio	1.51	1.53	1.55	1.60	1.64	1.67	1.74	1.74	1.79	1.83	1.89
Compound Leverage Factor	-0.77	1.20	1.23	1.33	1.45	1.50	1.57	1.50	1.28	0.98	1.36
Debt to Total Capital	22.65%	24.40%	24.63%	24.72%	24.16%	28.61%	32.03%	30.23%	30.84%	33.16%	33.76%
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	22.65%	24.40%	24.63%	24.72%	24.16%	28.61%	32.03%	30.23%	30.84%	33.16%	33.76%
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	54.98%	53.62%	53.32%	53.46%	53.88%	48.67%	45.22%	45.99%	43.82%	42.56%	41.75%
Common Equity to Total Capital	22.37%	21.97%	22.05%	21.83%	21.96%	22.72%	22.76%	23.78%	25.35%	24.28%	24.48%
Debt to EBITDA	6.02	4.94	3.91	3.29	2.75	3.06	3.31	3.19	3.12	3.99	4.15
Net Debt to EBITDA	4.59	3.86	3.01	2.48	2.02	2.30	2.14	2.47	2.35	3.28	3.38
Long-Term Debt to EBITDA	6.02	4.94	3.91	3.29	2.75	3.06	3.31	3.19	3.12	3.99	4.15
Debt to NOPAT	-934.80	22.12	13.07	8.52	5.90	5.68	5.11	4.85	4.76	6.70	7.98
Net Debt to NOPAT	-713.11	17.30	10.07	6.42	4.33	4.28	3.30	3.76	3.59	5.51	6.49
Long-Term Debt to NOPAT	-934.80	22.12	13.07	8.52	5.90	5.68	5.11	4.85	4.76	6.70	7.98
Altman Z-Score	2.51	2.77	2.90	3.18	3.55	4.35	3.64	3.64	4.14	3.29	3.16
Noncontrolling Interest Sharing Ratio	71.32%	71.41%	71.12%	70.82%	71.06%	69.59%	68.66%	68.34%	67.02%	65.68%	64.61%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.37	0.24	2.82	3.10	3.40	3.56	5.81	3.09	4.22	3.27	4.78
Quick Ratio	3.37	0.24	2.82	3.10	3.40	3.56	5.81	3.09	4.22	3.27	4.78
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	198	179	364	366	390	258	67	-1,096	-1,112	-2,255	-2,106
Operating Cash Flow to CapEx	1,154.84%	2,133.45%	2,338.52%	1,521.15%	919.54%	769.37%	919.08%	2,901.09%	2,328.06%	131.83%	4,206.14%
Free Cash Flow to Firm to Interest Expense	11.56	9.72	18.98	18.60	21.10	11.46	2.05	-32.14	-34.10	-58.54	-50.16
Operating Cash Flow to Interest Expense	16.09	6.59	12.42	14.32	16.68	2.10	9.24	9.56	9.94	0.46	10.06
Operating Cash Flow Less CapEx to Interest Expense	14.70	6.28	11.89	13.38	14.86	1.83	8.23	9.23	9.51	0.11	9.82
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.16	0.17	0.18	0.19	0.20	0.21	0.22	0.22	0.23	0.23	0.24
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	4.78	0.00	5.15	4.95	5.01	4.70	4.95
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
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
Accounts Payable Turnover	9.18	7.42	7.93	6.12	6.56	5.83	6.46	5.67	6.68	5.82	7.99
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	76.42	0.00	70.92	73.72	72.82	77.64	73.75
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	39.76	49.22	46.04	59.63	55.61	62.59	56.53	64.40	54.65	62.72	45.69
Cash Conversion Cycle (CCC)	-39.76	-49.22	-46.04	-59.63	20.80	-62.59	14.39	9.32	18.16	14.92	28.06
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	6,788	6,850	6,723	6,634	6,511	6,730	6,809	7,854	7,755	9,056	8,998
Invested Capital Turnover	0.20	0.21	0.23	0.24	0.26	0.27	0.29	0.30	0.32	0.31	0.33
Increase / (Decrease) in Invested Capital	-179	-121	-328	-286	-278	-120	86	1,220	1,245	2,325	2,189
Enterprise Value (EV)	18,691	20,164	20,891	22,650	25,090	31,656	30,423	34,184	40,108	37,538	36,384
Market Capitalization	13,507	14,903	15,739	17,557	20,108	26,572	25,361	28,333	34,480	30,818	29,736
Book Value per Share	$1.15	$1.13	$1.12	$1.10	$1.08	$3.37	$1.22	$1.37	$1.42	$1.52	$1.52
Tangible Book Value per Share	($3.59)	($3.52)	($3.45)	($3.45)	($3.41)	($9.48)	($3.26)	($3.88)	($3.67)	($4.19)	($4.10)
Total Capital	7,174	7,235	7,126	7,064	6,959	7,244	7,677	8,426	8,395	9,619	9,601
Total Debt	1,625	1,766	1,755	1,746	1,681	2,072	2,459	2,548	2,588	3,190	3,242
Total Long-Term Debt	1,625	1,766	1,755	1,746	1,681	2,072	2,459	2,548	2,588	3,190	3,242
Net Debt	1,239	1,381	1,352	1,316	1,233	1,559	1,591	1,975	1,949	2,626	2,638
Capital Expenditures (CapEx)	24	5.67	10	19	34	6.14	33	11	14	13	10
Debt-free, Cash-free Net Working Capital (DFCFNWC)	231	-156	202	210	228	232	286	318	383	432	468
Debt-free Net Working Capital (DFNWC)	299	-118	244	287	333	388	723	434	535	530	585
Net Working Capital (NWC)	299	-118	244	287	333	388	723	434	535	530	585
Net Nonoperating Expense (NNE)	18	15	1.57	17	31	25	14	24	62	34	12
Net Nonoperating Obligations (NNO)	1,239	1,381	1,352	1,316	1,233	1,559	1,591	1,975	1,949	2,626	2,638
Total Depreciation and Amortization (D&A)	67	74	120	61	61	60	63	76	84	97	98
Debt-free, Cash-free Net Working Capital to Revenue	16.89%	-10.53%	12.86%	12.85%	13.19%	12.54%	14.38%	14.75%	16.68%	17.52%	17.86%
Debt-free Net Working Capital to Revenue	21.86%	-7.98%	15.48%	17.55%	19.20%	20.94%	36.36%	20.12%	23.30%	21.48%	22.35%
Net Working Capital to Revenue	21.86%	-7.98%	15.48%	17.55%	19.20%	20.94%	36.36%	20.12%	23.30%	21.48%	22.35%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.01	$0.02	$0.03	$0.03	$0.04	$0.05	$0.06	$0.05	$0.04	$0.01	$0.03
Adjusted Weighted Average Basic Shares Outstanding	433.43M	456.19M	459.40M	466.38M	463.23M	488.44M	530.10M	575.25M	549.01M	625.85M	649.69M
Adjusted Diluted Earnings per Share	$0.01	$0.02	$0.02	$0.03	$0.03	$0.04	$0.06	$0.04	$0.06	$0.00	$0.02
Adjusted Weighted Average Diluted Shares Outstanding	433.43M	461.91M	1.43B	482.57M	478.01M	498.74M	539.39M	1.49B	558.43M	638.49M	656.06M
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	1.41B	1.41B	1.41B	1.41B	1.43B	1.43B	1.46B	1.49B	1.54B	1.55B	1.55B
Normalized Net Operating Profit after Tax (NOPAT)	20	58	36	80	112	137	152	124	133	70	83
Normalized NOPAT Margin	4.95%	14.71%	8.54%	18.63%	22.76%	26.78%	27.73%	20.61%	21.09%	10.28%	11.81%
Pre Tax Income Margin	-1.05%	12.40%	9.46%	17.26%	17.06%	24.70%	28.42%	18.66%	11.73%	5.90%	12.02%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.47	3.35	2.61	4.54	5.13	6.29	5.27	3.82	3.16	1.96	2.81
NOPAT to Interest Expense	1.14	3.13	1.86	4.07	6.08	6.11	4.66	3.63	4.09	1.82	1.98
EBIT Less CapEx to Interest Expense	-0.92	3.04	2.08	3.60	3.32	6.01	4.27	3.49	2.74	1.61	2.57
NOPAT Less CapEx to Interest Expense	-0.25	2.82	1.33	3.13	4.27	5.84	3.65	3.30	3.66	1.48	1.74
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-1,510.41%	2,643.94%	1,050.35%	537.65%	359.70%	301.43%	239.30%	237.37%	262.52%	351.18%	470.44%
Augmented Payout Ratio	-1,706.23%	2,643.94%	1,050.35%	569.36%	359.70%	301.43%	239.30%	237.43%	262.58%	351.18%	471.14%

Key Financial Trends

Blue Owl Capital Inc. (NYSE: OWL) has demonstrated consistent revenue growth over the past four years, with total revenue increasing from approximately $390.9 million in Q1 2023 to over $703.1 million in Q2 2025. This reflects strong top-line expansion driven primarily by operating revenue.

Key highlights:

Revenue growth: Operating revenue rose steadily from $390.9 million in Q1 2023 to $703.1 million in Q2 2025, nearly doubling over two years, indicating effective business expansion.
Increasing gross profit: Total gross profit improved from $193.4 million in Q1 2023 to $376.8 million in Q2 2025, reflecting better scale and operational efficiency.
Operating income rise: Total operating income grew from $66.4 million in Q1 2023 to $99.3 million in Q2 2025, signaling improved core profitability.
Net income improvement: Consolidated net income attributable to common shareholders increased from $8.3 million in Q1 2023 to $17.4 million in Q2 2025, showing growth in earnings per share.
Strong operating cash flow: Net cash from continuing operating activities increased significantly, reaching $422.5 million in Q2 2025 from $47.2 million in Q1 2023, indicating strong cash generation capability.
Amortization expense remains high: Amortization expense has increased over the periods and is a substantial non-cash charge impacting operating expenses (e.g., $91.4 million in Q2 2025 vs. $57.6 million in Q1 2023).
Share dilution: Weighted average diluted shares outstanding have increased from approximately 498.7 million in Q1 2023 to over 656 million in Q2 2025, which may dilute earnings per share.
High dividend payments: Payment of dividends increased to $363.2 million in Q2 2025, compared to $269.6 million in Q1 2023, which, while rewarding shareholders, impacts free cash flow.
Significant debt repayments: The company has made large repayments of debt, $300 million in Q2 2025 and $329.9 million in Q1 2025, reflecting debt servicing needs and impacting cash flow.
Decreasing common equity: Total common equity was $1.58 billion in Q1 2023 but rose to $2.35 billion in Q2 2025, however, noncontrolling interests remain substantial at about $4.0 billion, which affects overall financial leverage and control.

Trend Analysis: Blue Owl Capital has rapidly grown its revenue and cash flows, landing a solid footing in profitability and operational cash generation. High amortization expenses and increased share count due to equity issuance have somewhat restrained net earnings growth on a per-share basis. The firm's ability to manage debt levels and dividend payouts will be critical going forward to sustain financial flexibility.

Overall, Blue Owl Capital exhibits positive growth fundamentals with cautious attention needed on liabilities and equity dilution. Retail investors may find the stock attractive for its revenue momentum and improving operating cash flows, balanced against its capital structure and dividend commitments.

08/25/25 11:51 AMAI 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 5 years?

Blue Owl Capital's net income appears to be on a downward trend, with a most recent value of $420.45 million in 2024, rising from $20.47 million in 2019. The previous period was $220.78 million in 2023. Find out what analysts predict for Blue Owl Capital in the coming months.

What is Blue Owl Capital's operating income?

Blue Owl Capital's total operating income in 2024 was $606.76 million, based on the following breakdown:

Total Gross Profit: $1.28 billion
Total Operating Expenses: $671.19 million

How has Blue Owl Capital's revenue changed over the last 5 years?

Over the last 5 years, Blue Owl Capital's total revenue changed from $190.85 million in 2019 to $2.30 billion in 2024, a change of 1,102.7%.

How much debt does Blue Owl Capital have?

Blue Owl Capital's total liabilities were at $5.19 billion at the end of 2024, a 46.5% increase from 2023, and a 732.8% increase since 2020.

How much cash does Blue Owl Capital have?

In the past 4 years, Blue Owl Capital's cash and equivalents has ranged from $11.63 million in 2020 to $152.09 million in 2024, and is currently $152.09 million as of their latest financial filing in 2024.

How has Blue Owl Capital's book value per share changed over the last 5 years?

Over the last 5 years, Blue Owl Capital's book value per share changed from 0.00 in 2019 to 1.42 in 2024, a change of 142.5%.

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This page (NYSE:OWL) was last updated on 8/25/2025 by MarketBeat.com Staff

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Blue Owl Capital (OWL) Financials

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Blue Owl Capital (OWL) Financials

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