NYSE : OWL
Blue Owl Capital Inc. — Financial statements
Financials · Asset Management · United States
Last price 10.41 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 16.23B
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Financial statements
Blue Owl Capital Inc. (OWL) reported revenue of 3.07B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 3.07B | 2.87B | 2.30B | 1.73B | 1.37B | 823.88M |
| Cost of Revenue | 1.27B | 1.18B | 920.34M | 716.65M | 573.37M | 1.50B |
| Gross Profit | 1.80B | 1.69B | 1.38B | 1.01B | 796.35M | -673.11M |
| Selling, General & Admin | 524.96M | 477.35M | 338.45M | 242.81M | 220.61M | 140.27M |
| Amortization of Goodwill & Intangibles | 343.66M | 358.95M | 258.26M | 300.34M | 256.91M | 113.89M |
| Operating Expenses | 868.61M | 836.30M | 596.71M | 543.15M | 477.52M | 254.16M |
| Operating Income | 926.58M | 854.03M | 778.38M | 471.81M | 318.83M | -927.27M |
| Interest Expense | -182.58M | -163.75M | -121.89M | -75.70M | -60.07M | -27.66M |
| Interest & Investment Income | 49.38M | 45.18M | 42.17M | 22.18M | 4.36M | 387.00K |
| Other Non Operating Income (Expenses) | -38.30M | -14.05M | 34.63M | -43.67M | ||
| EBT Excluding Unusual Items | 793.38M | 735.46M | 660.36M | 404.24M | 297.75M | -998.21M |
| Merger & Restructuring Charges | -385.92M | -397.78M | -171.62M | -153.99M | -321.31M | |
| Gain (Loss) on Sale of Investments | -28.07M | -7.11M | 1.71M | 4.20M | -132.00K | -3.53M |
| Other Unusual Items | 49.39M | 17.34M | -21.22M | -8.06M | -25.92M | -865.74M |
| Pretax Income | 428.78M | 347.91M | 469.23M | 246.38M | -49.62M | -1.87B |
| Income Tax Expense | 57.55M | 42.42M | 48.78M | 25.61M | -9.38M | -65.21M |
| Earnings From Continuing Operations | 371.23M | 305.49M | 420.45M | 220.78M | -40.23M | -1.80B |
| Minority Interest in Earnings | -276.67M | -226.65M | -310.86M | -166.43M | 30.95M | 1.43B |
| Net Income | 94.56M | 78.83M | 109.58M | 54.34M | -9.29M | -376.17M |
| Preferred Dividends & Other Adjustments | 74.26M | |||||
| Net Income to Common | 94.56M | 78.83M | 109.58M | 54.34M | -9.29M | -450.43M |
| Shares Outstanding (Basic) | 685.79M | 654.79M | 549.01M | 463.23M | 433.43M | 354.95M |
| Shares Outstanding (Diluted) | 686.88M | 661.89M | 558.43M | 478.01M | 433.43M | 1.32B |
| EPS (Basic) | 0.14 | 0.12 | 0.20 | 0.12 | -0.02 | -1.27 |
| EPS (Diluted) | 0.14 | 0.10 | 0.20 | 0.10 | -0.02 | -1.34 |
| Free Cash Flow | 1.50B | 1.20B | 935.37M | 881.24M | 662.91M | 276.40M |
| Free Cash Flow Per Share | 2.19 | 1.81 | 1.68 | 1.84 | 1.53 | 0.21 |
| Dividend Per Share | 0.95 | 0.90 | 0.72 | 0.56 | 0.46 | 0.13 |
| Gross Margin | 58.49% | 58.89% | 59.91% | 58.61% | 58.14% | -81.70% |
| Operating Margin | 30.19% | 29.75% | 33.91% | 27.25% | 23.28% | -112.55% |
| Profit Margin | 3.08% | 2.75% | 4.77% | 3.14% | -0.68% | -54.67% |
| Free Cash Flow Margin | 48.96% | 41.75% | 40.75% | 50.89% | 48.40% | 33.55% |
| EBITDA | 1.30B | 1.24B | 1.05B | 782.37M | 578.04M | -812.71M |
| EBITDA Margin | 42.30% | 43.08% | 45.89% | 45.18% | 42.20% | -98.65% |
| D&A For EBITDA | 371.50M | 382.40M | 274.92M | 310.57M | 259.21M | 114.55M |
| EBIT | 926.58M | 854.03M | 778.38M | 471.81M | 318.83M | -927.27M |
| EBIT Margin | 30.19% | 29.75% | 33.91% | 27.25% | 23.28% | -112.55% |
| Effective Tax Rate | 13.42% | 12.19% | 10.40% | 10.39% | ||
| Revenue as Reported | 3.07B | 2.87B | 2.30B | 1.73B | 1.37B | 823.88M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 213.61M | 194.51M | 152.09M | 104.16M | 68.08M | 42.57M |
| Cash & Short-Term Investments | 213.61M | 194.51M | 152.09M | 104.16M | 68.08M | 42.57M |
| Accounts Receivable | 788.47M | 778.78M | 731.61M | 663.26M | 721.13M | 673.88M |
| Other Receivables | 231.65M | 291.92M | 217.28M | 136.81M | 106.67M | 50.94M |
| Receivables | 1.02B | 1.07B | 948.89M | 800.07M | 827.79M | 724.82M |
| Prepaid Expenses | 47.92M | 33.46M | 17.77M | 7.21M | 6.10M | 8.50M |
| Total Current Assets | 1.28B | 1.30B | 1.12B | 911.44M | 901.97M | 775.88M |
| Property, Plant & Equipment | 665.78M | 675.14M | 512.84M | 416.56M | 295.60M | 93.98M |
| Long-Term Investments | 539.59M | 484.39M | 486.94M | 344.26M | 317.23M | 12.14M |
| Goodwill | 5.62B | 5.62B | 4.70B | 4.22B | 4.21B | 4.13B |
| Other Intangible Assets | 2.63B | 2.89B | 2.90B | 2.11B | 2.41B | 2.61B |
| Long-Term Deferred Tax Assets | 1.43B | 1.41B | 1.25B | 781.69M | 757.23M | 635.62M |
| Long-Term Deferred Charges | 27.52M | 55.78M | 9.68M | 9.27M | 6.33M | 3.68M |
| Other Long-Term Assets | 24.48M | 26.90M | 16.92M | 20.23M | 4.13M | 1.43M |
| Total Assets | 12.23B | 12.47B | 10.99B | 8.82B | 8.89B | 8.27B |
| Accounts Payable | 220.92M | 159.13M | 158.34M | 129.36M | 117.17M | 58.04M |
| Accrued Expenses | 640.01M | 525.55M | 424.02M | 370.73M | 309.64M | 155.61M |
| Current Portion of Leases | 15.26M | 62.43M | ||||
| Current Unearned Revenue | 12.62M | 3.87M | 7.61M | 9.40M | 9.39M | 10.30M |
| Total Current Liabilities | 888.81M | 750.98M | 589.98M | 509.48M | 436.20M | 223.94M |
| Long-Term Debt | 3.64B | 3.32B | 2.59B | 1.68B | 1.62B | 1.17B |
| Long-Term Leases | 508.29M | 475.72M | 390.35M | 319.53M | 239.84M | 88.48M |
| Long-Term Deferred Tax Liabilities | 36.77M | 39.66M | 36.87M | 34.42M | 41.79M | 48.96M |
| Other Long-Term Liabilities | 1.75B | 1.82B | 1.58B | 995.02M | 1.00B | 883.27M |
| Total Liabilities | 6.82B | 6.41B | 5.19B | 3.54B | 3.34B | 2.42B |
| Common Stock | 156.00K | 155.00K | 150.00K | 141.00K | 140.00K | 139.00K |
| Additional Paid-In Capital | 3.95B | 3.81B | 3.27B | 2.41B | 2.29B | 2.16B |
| Retained Earnings | -2.03B | -1.61B | -1.14B | -882.88M | -689.35M | -497.51M |
| Comprehensive Income & Other | 2.75M | 1.89M | ||||
| Total Common Equity | 1.92B | 2.21B | 2.13B | 1.53B | 1.60B | 1.66B |
| Minority Interest | 3.49B | 3.85B | 3.68B | 3.75B | 3.94B | 4.18B |
| Shareholders' Equity | 5.41B | 6.05B | 5.81B | 5.28B | 5.55B | 5.85B |
| Total Liabilities & Equity | 12.23B | 12.47B | 10.99B | 8.82B | 8.89B | 8.27B |
| Total Debt | 4.16B | 3.86B | 2.98B | 2.00B | 1.86B | 1.26B |
| Net Cash (Debt) | -3.95B | -3.67B | -2.83B | -1.90B | -1.80B | -1.22B |
| Net Cash Per Share | -5.75 | -5.54 | -5.06 | -3.97 | -4.14 | -0.93 |
| Filing Date Shares Outstanding | 692.78M | 665.57M | 608.35M | 465.68M | 445.56M | 404.92M |
| Total Common Shares Outstanding | 692.78M | 667.28M | 608.35M | 464.43M | 445.13M | 404.92M |
| Working Capital | 392.84M | 547.70M | 528.77M | 401.96M | 465.77M | 551.93M |
| Book Value Per Share | 2.78 | 3.31 | 3.50 | 3.29 | 3.60 | 4.11 |
| Tangible Book Value | -6.33B | -6.31B | -5.47B | -4.81B | -5.01B | -5.08B |
| Tangible Book Value Per Share | -9.14 | -9.45 | -9.00 | -10.35 | -11.25 | -12.55 |
| Machinery | 74.10M | 58.13M | 40.94M | 22.15M | 14.09M | 3.60M |
| Leasehold Improvements | 229.04M | 215.66M | 178.40M | 127.61M | 61.74M | 6.69M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 94.56M | 78.83M | 109.58M | 54.34M | -9.29M | -376.17M |
| Depreciation & Amortization | 371.50M | 382.40M | 274.92M | 310.57M | 259.21M | 114.55M |
| Other Amortization | 8.22M | 7.83M | 7.21M | 4.99M | 4.38M | 1.87M |
| Loss (Gain) From Sale of Investments | 27.82M | 5.71M | 12.68M | -4.20M | 132.00K | 5.28M |
| Stock-Based Compensation | 735.40M | 673.52M | 312.61M | 312.56M | 420.83M | 1.21B |
| Other Operating Activities | 198.69M | 211.42M | 387.53M | 208.24M | -50.62M | -580.85M |
| Change in Accounts Payable | 49.99M | 2.80M | 10.08M | 4.68M | 58.01M | -32.63M |
| Change in Other Net Operating Assets | 70.05M | -106.48M | -115.05M | 57.97M | 45.79M | -55.73M |
| Operating Cash Flow | 1.56B | 1.26B | 999.55M | 949.14M | 728.45M | 281.66M |
| Capital Expenditures | -53.79M | -57.75M | -64.19M | -67.91M | -65.54M | -5.26M |
| Cash Acquisitions | -244.58M | -445.21M | -26.27M | -114.45M | -1.58B | |
| Investment in Securities | -14.86M | 31.76M | -128.75M | -23.86M | -305.23M | -14.74M |
| Investing Cash Flow | -68.65M | -270.57M | -638.14M | -118.03M | -485.22M | -1.60B |
| Long-Term Debt Issued | 2.27B | 2.17B | 1.05B | 775.06M | 1.39B | |
| Long-Term Debt Repaid | -1.54B | -1.25B | -1.00B | -323.00M | -577.84M | |
| Net Debt Issued (Repaid) | 412.91M | 730.00M | 925.00M | 54.80M | 452.06M | 812.46M |
| Issuance of Common Stock | 151.00K | 1.74B | ||||
| Repurchase of Common Stock | -123.57M | -133.27M | -38.85M | -15.45M | -81.21M | |
| Common Dividends Paid | -614.76M | -546.66M | -368.33M | -247.88M | -182.55M | -47.08M |
| Other Financing Activities | -1.09B | -993.11M | -831.30M | -586.50M | -406.17M | -1.16B |
| Financing Cash Flow | -1.41B | -943.04M | -313.48M | -795.03M | -217.72M | 1.35B |
| Net Cash Flow | 76.33M | 42.42M | 47.93M | 36.08M | 25.51M | 30.94M |
| Free Cash Flow | 1.50B | 1.20B | 935.37M | 881.24M | 662.91M | 276.40M |
| Free Cash Flow Margin | 48.96% | 41.75% | 40.75% | 50.89% | 48.40% | 33.55% |
| Free Cash Flow Per Share | 2.19 | 1.81 | 1.68 | 1.84 | 1.53 | 0.21 |
| Levered Free Cash Flow | 1.76B | 1.40B | 861.97M | 907.67M | 892.29M | -1.17B |
| Unlevered Free Cash Flow | 1.87B | 1.49B | 930.94M | 949.99M | 925.45M | -1.15B |
| Cash Interest Paid | 171.20M | 155.39M | 101.19M | 71.59M | 47.73M | 25.01M |
| Cash Income Tax Paid | 21.48M | 17.14M | 22.14M | 14.25M | 4.78M | 4.35M |
| Change in Working Capital | 120.04M | -103.68M | -104.97M | 62.65M | 103.79M | -88.35M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 16.64B | 9.93B | 13.22B | 6.79B | 4.72B | 5.44B |
| Enterprise Value | 20.59B | 17.45B | 19.89B | 12.54B | 10.42B | 9.82B |
| Last Close Price | 10.62 | 14.04 | 20.91 | 12.92 | 8.77 | 11.90 |
| PE Ratio | 77.02 | 125.99 | 120.65 | 124.96 | ||
| Forward PE | 11.23 | 15.88 | 25.86 | 20.67 | 16.41 | 32.34 |
| PS Ratio | 5.42 | 3.46 | 5.76 | 3.92 | 3.44 | 6.60 |
| PB Ratio | 3.83 | 1.64 | 2.28 | 1.29 | 0.85 | 0.93 |
| P/FCF Ratio | 11.07 | 8.29 | 14.13 | 7.71 | 7.12 | 19.67 |
| P/OCF Ratio | 10.69 | 7.91 | 13.23 | 7.15 | 6.48 | 19.31 |
| PEG Ratio | 1.16 | 1.23 | 1.43 | 0.95 | 0.46 | |
| EV/Sales Ratio | 6.71 | 6.08 | 8.66 | 7.24 | 7.61 | 11.91 |
| EV/EBITDA Ratio | 15.86 | 14.12 | 18.88 | 16.03 | 18.03 | |
| EV/EBIT Ratio | 22.22 | 20.44 | 25.55 | 26.58 | 32.69 | |
| EV/FCF Ratio | 13.70 | 14.57 | 21.26 | 14.23 | 15.72 | 35.52 |
| Debt / Equity Ratio | 0.77 | 0.64 | 0.51 | 0.38 | 0.34 | 0.22 |
| Debt / EBITDA Ratio | 3.06 | 3.00 | 2.72 | 2.44 | 3.11 | |
| Debt / FCF Ratio | 2.77 | 3.22 | 3.19 | 2.27 | 2.81 | 4.57 |
| Net Debt / Equity Ratio | 0.73 | 0.61 | 0.49 | 0.36 | 0.32 | 0.21 |
| Net Debt / EBITDA Ratio | 3.04 | 2.97 | 2.68 | 2.42 | 3.11 | -1.50 |
| Net Debt / FCF Ratio | 2.63 | 3.06 | 3.02 | 2.15 | 2.71 | 4.41 |
| Asset Turnover | 0.25 | 0.24 | 0.23 | 0.20 | 0.16 | 0.20 |
| Quick Ratio | 1.39 | 1.69 | 1.87 | 1.77 | 2.05 | 3.43 |
| Current Ratio | 1.44 | 1.73 | 1.90 | 1.79 | 2.07 | 3.46 |
| Return on Equity (ROE) | 6.41% | 5.15% | 7.59% | 4.08% | -0.71% | -67.42% |
| Return on Assets (ROA) | 4.69% | 4.55% | 4.91% | 3.33% | 2.32% | -13.82% |
| Return on Invested Capital (ROIC) | 8.38% | 8.17% | 8.82% | 5.82% | 4.42% | -26.86% |
| Return on Capital Employed (ROCE) | 8.20% | 7.30% | 7.50% | 5.70% | 3.80% | -11.50% |
| Earnings Yield | 1.30% | 0.79% | 0.83% | 0.80% | -0.20% | -6.92% |
| FCF Yield | 9.03% | 12.06% | 7.07% | 12.98% | 14.05% | 5.08% |
| Dividend Yield | 8.66% | 6.05% | 3.31% | 3.83% | 4.34% | 0.97% |
| Payout Ratio | 667.20% | 693.44% | 336.12% | 456.14% | ||
| Buyback Yield / Dilution | -6.68% | -18.53% | -16.82% | -10.29% | 67.04% | -13,051.86% |
| Total Shareholder Return | 1.99% | -12.48% | -13.51% | -6.46% | 71.38% | -13,050.90% |