Blue Owl Capital Inc. OWL

FinancialsInvestment Banking & Investment ServicesUnited States of America

Last close 10.33 USD on Nov 1, 2026, −26.4% year to date

Quant rating

Quant rating C Rank 334 of 799 in Financials

Growth A 103 of 799
Valuation B 180 of 799
Quality D 595 of 799
Revisions B 231 of 799
Momentum C 440 of 799

Wall Street consensus Buy (2.18)Average target 12.91 USD +24.9%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 16.1B
Enterprise value: 23.4B
52-week range: 7.96 – 17.00
3-year range: 7.96 – 26.68
Dividend yield: 8.91%
Beta (5 years): 1.32
Shares outstanding: 1,559M
Next earnings: Feb 5, 2027

About the company

Blue Owl Capital Inc. is an alternative asset management company. The Company deploys private capital across Credit, Real Assets and GP Strategic Capital platforms on behalf of institutional and private wealth clients. Its product platforms include Credit, Real Assets and GP Strategic Capital. Its credit products offer direct lending, alternative credit, investment grade credit, liquid credit, and other. Its Real Estate products are net lease, real estate credit, and digital infrastructure. Its Real Estate products are offered through permanent capital vehicles, including its non-traded real estate investment trusts, and long-dated private funds. Its GP Strategic Capital includes GP minority stakes, GP debt financing, and professional sport minority stakes. The GP debt financing focuses on originating and making collateralized, long-term debt investments, preferred equity investments and structured investments in private capital managers.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	2,870	2,295	1,732	1,370	824	–
Revenue growth	25.0%	32.6%	26.4%	66.3%	229.8%	63.0%
EPS (basic, normalized)	0.84	0.77	0.65	0.53	0.32	–
EPS growth	9.1%	18.5%	22.6%	65.6%	–	–
Gross margin	–	–	–	–	–	–
Net margin	2.7%	4.8%	3.1%	−0.7%	−45.7%	−7.1%
ROE	–	61.8%	59.0%	30.1%	–	50.3%

Balance sheet, last quarter
Cash & short-term investments (mil)	214
Current ratio	–
Long-term debt (mil)	3,812
Net debt (mil)	7,260
Total equity (mil)	1,923
Net debt / equity	3.78x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			Book value per share			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	P/B	Mean est.	Growth	P/E
2025 actual	2,870	+25.0%	8.1x	3.31	−2.8%	3.1x	0.84	+9.1%	12.3x
2026	2,888	+0.6%	8.1x	2.91	−12.0%	3.5x	0.89	+5.7%	11.6x
2027	3,163	+9.5%	7.4x	2.86	−1.7%	3.6x	0.98	+9.8%	10.6x
2028	3,517	+11.2%	6.6x	3.02	+5.6%	3.4x	1.13	+15.3%	9.2x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	2,888	+0.9%	+1.1%	−1.7%	0.89	+0.5%	+0.4%	+0.1%
2027	3,163	+0.7%	+0.3%	−4.0%	0.98	−0.9%	−1.0%	−2.7%
2028	3,517	+0.8%	−0.4%	−1.8%	1.13	+1.7%	+0.6%	−2.1%

Earnings surprises EPS beat in 3 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	487	520	568	631	620	646	687	756	700	694
Sales mean (mil)	477	506	562	618	631	638	685	715	707	694
Surprise	+1.9%	+2.8%	+1.2%	+2.2%	−1.7%	+1.3%	+0.2%	+5.7%	−1.0%	0.0%
EPS reported	0.17	0.19	0.20	0.21	0.17	0.21	0.22	0.24	0.19	0.22
EPS mean	0.17	0.19	0.20	0.21	0.19	0.21	0.22	0.22	0.18	0.22
Surprise	+3.0%	−1.1%	−1.5%	−2.3%	−8.6%	+1.6%	−0.9%	+7.1%	+4.8%	+1.5%

Peer comparison Investment Banking & Investment Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
OWL Blue Owl Capital Inc.	16.1B	–	2.7%	8.07x	11.6x	10.6x	14.1x	12.7x
MS Morgan Stanley	288.4B	–	13.6%	2.49x	14.3x	13.5x	–	–
GS The Goldman Sachs Group, Inc.	260.5B	–	13.0%	2.08x	12.5x	12.0x	–	–
C Citigroup Inc.	203.0B	–	9.1%	0.97x	10.8x	9.5x	–	–
BLK BlackRock, Inc.	186.1B	–	22.9%	3.09x	19.8x	17.6x	14.4x	12.7x
SCHW The Charles Schwab Corporation	152.3B	–	30.4%	3.03x	13.7x	11.3x	24.3x	20.6x
Mean		–	15.3%	3.29x	13.8x	12.4x	17.6x	15.4x
Median		–	13.3%	2.76x	13.1x	11.6x	14.4x	12.7x

Technical analysis

1M+12.9%
3M+7.2%
1Y−32.5%
3Y−1.6%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Blue Owl Capital Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	2,870	2,295	1,732	1,370	824	250
Cost of revenue	–	–	–	–	–	–
Gross profit	2,870	2,295	1,732	1,370	824	250
Selling, general & administrative expenses	2,018	1,356	1,100	1,106	1,581	309
Research & development	–	–	–	–	–	–
Depreciation/amortization	359	258	300	257	114	–
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	37.0	74.5	13.3	9.1	73.9	–
Other operating expenses	0	0	0	0	0	0
Operating income	456	607	318	−2.5	−945	−58.7
Net interest income (expense)	−126	−116	−63.4	−21.2	−74.5	−23.8
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	17.3	−21.2	−8.1	−25.9	−848	0
Net income before taxes	348	469	246	−49.6	−1,867	−82.5
Provision for taxes	42.4	48.8	25.6	−9.4	−65.2	−0.1
Minority interest	−227	−311	−166	30.9	1,426	4.6
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	78.8	110	54.3	−9.3	−376	−77.8
Extraordinary items	–	–	–	–	–	–
Net income	78.8	110	54.3	−9.3	−376	−77.8
EBIT, normalized	460	681	331	6.6	−871	−58.7
EBITDA, normalized	842	956	642	266	−756	−58.1
Basic EPS, normalized	0.84	0.77	0.65	0.53	0.32	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Blue Owl Capital Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	195	152	104	68.1	42.6	11.6
Receivables	694	549	367	358	225	93.3
Total inventory	–	–	–	–	–	–
Prepaid expenses	33.5	17.8	7.2	6.1	8.5	–
Other current assets	–	–	–	–	–	–
Total current assets	–	–	–	–	–	–
Property, plant & equipment	675	513	417	296	94.0	3.4
Goodwill	5,624	4,699	4,224	4,205	4,132	–
Intangibles	2,889	2,903	2,110	2,405	2,611	–
Long-term investments	484	487	344	317	–	–
Note receivable	47.4	26.6	15.9	11.9	–	–
Other long-term assets	2,747	2,364	1,707	1,658	1,429	118
Total assets	12,468	10,992	8,818	8,893	8,266	122
Liabilities
Accounts payable	–	–	–	–	–	–
Payable/accrued	163	166	139	127	68.3	58.4
Accrued expenses	1,064	814	690	549	244	208
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	–	–	–	–	–	17.3
Other current liabilities	–	–	–	–	–	–
Total current liabilities	–	–	–	–	–	–
Long-term debt	3,324	2,588	1,681	1,625	1,174	339
Minority interest	3,849	3,678	3,750	3,944	4,184	6.5
Other liabilities	3,089	2,598	1,858	1,719	1,245	284
Total liabilities	10,262	8,865	7,289	7,288	6,603	629
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	0.2	0.1	0.1	0.1	0.1	–
Additional paid-in capital	3,813	3,269	2,411	2,294	2,161	–
Retained earnings (accumulated deficit)	−1,609	−1,142	−883	−689	−498	−508
Treasury stock	–	–	–	–	–	–
Other equity	1.9	0	0	0	0	0
Total equity	2,205	2,128	1,528	1,605	1,664	−508
Total liabilities & shareholders' equity	12,468	10,992	8,818	8,893	8,266	122

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Blue Owl Capital Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	305	420	221	−40.2	−1,802	−82.4
Depreciation, depletion & amortization	382	275	311	259	115	0.7
Deferred taxes	21.2	26.8	4.2	−23.9	−66.1	–
Non-cash items	651	382	351	430	2,124	−49.0
Changes in working capital	−104	−105	62.6	104	−88.4	136
Cash from operations	1,256	1,000	949	728	282	5.2
Investing activities
Capital expenditures	−57.7	−64.2	−67.9	−65.5	−5.3	−0.7
Other investing cash flows	−213	−574	−50.1	−420	−1,594	0
Cash from investing	−271	−638	−118	−485	−1,599	−0.7
Financing activities
Financing cash flow items	−1,073	−870	−602	−408	583	−69.4
Cash dividends paid	−547	−368	−248	−183	−47.1	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	676	925	54.8	373	812	69.1
Cash from financing	−943	−313	−795	−218	1,348	−0.3
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	42.4	47.9	36.1	25.5	30.9	4.3
Free cash flow	1,198	935	881	663	276	4.6

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.