Blue Owl Capital Inc.
- Open
- 11.95
- Day high
- 12.37
- Day low
- 11.90
- Prev close
- 12.02
- Volume
- 18.1M
- Mkt cap
- $8.4B
- P/E (TTM)
- 102.9
- EPS (TTM)
- $0.12
- P/B
- 4.2
- P/S
- 2.8
- Yield
- 7.43%
- Per share
- $0.91
Blue Owl Capital Inc. (OWL) is a Financial Services company listed on NYSE. The stock is down 34% over the past year. Drillr has 1 published research article covering OWL.
Blue Owl Capital Inc. (OWL) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 5 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
OWL earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 30, 2026 | $0.22 | $0.22 | +1.4% | $753M | +7.6% |
| Apr 30, 2026 | $0.19 | $0.19 | +0.0% | $700M | +0.6% |
| Feb 5, 2026 | $0.22 | $0.24 | +9.1% | $756M | +3.3% |
| Oct 30, 2025 | $0.22 | $0.22 | -0.9% | $728M | +7.0% |
| Jul 31, 2025 | $0.21 | $0.21 | +1.6% | $703M | +17.4% |
| May 1, 2025 | $0.18 | $0.17 | -7.7% | $683M | +9.7% |
| Feb 6, 2025 | $0.21 | $0.21 | -1.9% | $631M | +1.8% |
| Oct 31, 2024 | $0.20 | $0.20 | -0.2% | $601M | +5.8% |
| Aug 1, 2024 | $0.19 | $0.19 | -1.2% | $550M | +8.9% |
| May 2, 2024 | $0.16 | $0.17 | +4.2% | $513M | +7.9% |
| Feb 9, 2024 | $0.18 | $0.18 | +0.0% | $494M | +5.4% |
| Nov 2, 2023 | $0.16 | $0.16 | +0.0% | $430M | +5.3% |
OWL insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 7, 2026 | Rees Michael Douglassdirector, officer: Co-President | Grant | 1,007,678 | — |
| Aug 7, 2026 | Ostrover Douglas Idirector, officer: Co-Chief Executive Officer | Grant | 736,464 | — |
| Aug 7, 2026 | Zahr Marcdirector, officer: Co-President | Grant | 736,464 | — |
| Aug 7, 2026 | LIPSCHULTZ MARC Sdirector, officer: Co-Chief Executive Officer | Grant | 736,464 | — |
| Aug 7, 2026 | Packer Craigdirector, officer: Co-President | Grant | 681,229 | — |
| May 8, 2026 | LIPSCHULTZ MARC Sdirector, officer: Co-Chief Executive Officer | Grant | 788,882 | — |
| May 8, 2026 | Ugwonali Dana Weeksdirector | Grant | 20,429 | — |
| May 8, 2026 | Rees Michael Douglassdirector, officer: Co-President | Grant | 1,072,523 | — |
| May 8, 2026 | Bash-Polley Stacy Ellendirector | Grant | 20,429 | — |
| May 8, 2026 | Ostrover Douglas Idirector, officer: Co-Chief Executive Officer | Grant | 788,882 | — |
| May 8, 2026 | Holz Claudia Adirector | Grant | 20,429 | — |
| May 8, 2026 | Zahr Marcdirector, officer: Co-President | Grant | 788,882 | — |
| May 8, 2026 | Packer Craigdirector, officer: Co-President | Grant | 729,716 | — |
| Feb 18, 2026 | Polland Andrew Robertofficer: Chief Operating Officer | Tax | 38,979 | $12.30 |
| Feb 18, 2026 | Reddy Neenaofficer: General Counsel and Secretary | Tax | 20,779 | $12.30 |
Source: OWL SEC Form 4 filings, latest Aug 7, 2026. For informational purposes only — not investment advice.
See the full OWL insider & 13F page →Blue Owl Capital Inc. company profile
Overview
Blue Owl Capital Inc. (NYSE:OWL) is a leading alternative asset management firm founded in 2020 through the merger of Owl Rock Capital Partners and Dyal Capital Partners. The company went public in December 2020 and has rapidly established itself as one of the fastest-growing alternative asset managers in the United States. Blue Owl operates as a comprehensive investment platform focused on providing capital solutions to middle-market companies, large alternative asset managers, and real estate owners through its permanent capital vehicle structure.
Business
Blue Owl Capital operates in the alternative asset management industry, which involves managing investments in non-traditional assets outside of public stocks and bonds. The company provides three main types of investment solutions through distinct business segments: Credit Platform (Primary Revenue Driver): This segment focuses on direct lending, which involves providing loans directly to middle-market companies rather than through traditional bank channels. These companies typically have annual revenues between $10 million and $1 billion and often need capital for acquisitions, growth, or refinancing. Blue Owl's credit products include diversified lending, technology-focused lending, first lien loans (senior debt with first claim on assets), and opportunistic lending strategies. The credit platform has consistently been the largest revenue generator, with gross originations reaching nearly $52 billion in 2024. GP Strategic Capital Solutions: This segment provides capital to large private equity and alternative asset management firms (General Partners or "GPs"). Blue Owl offers minority equity investments in these management companies, debt financing, and investments in professional sports teams. This business model allows Blue Owl to participate in the growth and success of other asset managers while providing them with permanent capital to expand their operations. The segment has raised significant capital, including over $11.5 billion in committed capital for Fund V. Real Assets Platform: This segment focuses on real estate investments, particularly sale-leaseback transactions and triple net leases. In a sale-leaseback arrangement, Blue Owl purchases real estate from companies and immediately leases it back to them, providing the seller with immediate capital while maintaining operational control. Triple net leases are arrangements where tenants pay all property expenses including taxes, insurance, and maintenance. The platform has expanded into digital infrastructure investments, including data centers, following the acquisition of IPI Partners.
Revenue model
Blue Owl generates revenue primarily through management fees and performance fees charged to investors in its funds and investment vehicles. The company's business model is built around permanent capital vehicles, which means approximately 90% of its management fees come from evergreen funds that don't have fixed expiration dates, providing stable and predictable fee income. Management Fees: Blue Owl charges annual management fees typically ranging from 1-2% of assets under management (AUM). These fees provide steady recurring revenue regardless of investment performance. The company's AUM reached $265 billion pro forma as of Q4 2024, generating substantial management fee income. Performance Fees: The company earns performance fees (also called carried interest) when its investments generate returns above predetermined hurdle rates, typically 8% annually. These fees are usually 15-20% of profits above the hurdle rate and can significantly boost revenues during strong performance periods. Transaction and Other Fees: Blue Owl also earns fees from structuring transactions, providing advisory services, and other ancillary services to portfolio companies. The company's margins are influenced by several factors. Positive margin drivers include the permanent capital structure that provides fee stability, economies of scale as AUM grows, and the ability to cross-sell products across different investor channels. Margin pressures can arise from increased competition for deals leading to compressed spreads, higher compensation costs to retain talent, regulatory compliance expenses, and integration costs from acquisitions. The company targets maintaining Fee Related Earnings (FRE) margins around 57-58% while investing in growth initiatives.
Competitive moat
Blue Owl's competitive moat stems from several interconnected factors, though the strength varies across its business segments. The company's permanent capital structure provides a significant advantage over traditional private equity firms that rely on fixed-term funds, offering more flexibility in investment timing and hold periods. This structure appeals to both investors seeking stable income and borrowers needing patient capital. The firm has built strong incumbent relationships with middle-market companies, evidenced by high rates of follow-on investments and refinancing activity within its existing portfolio. These relationships create switching costs and provide Blue Owl with preferential access to deal flow. The company's scale advantages are becoming increasingly important, with $265 billion in AUM providing negotiating power with borrowers and operational efficiencies. Blue Owl's distribution capabilities across institutional and wealth management channels create barriers to entry, particularly its growing presence in the private wealth market through financial advisors. The integration of multiple investment strategies under one platform allows for cross-selling opportunities that smaller, specialized competitors cannot match. However, the moat faces several challenges. The alternative asset management industry has relatively low barriers to entry for experienced professionals, and talented investment teams can potentially start competing firms. Regulatory changes affecting the industry, increased competition from banks re-entering direct lending, and potential economic downturns that could impact credit quality all pose threats. The company's rapid growth through acquisitions also creates integration risks that could temporarily weaken competitive positioning. Overall, Blue Owl has built a moderately strong moat that appears sustainable in the medium term, though it requires continuous investment in relationships, talent retention, and platform capabilities to maintain its competitive advantages.
Risks & safety
Blue Owl demonstrates a reasonable margin of safety profile, though with some areas requiring monitoring: Liquidity and Solvency: • Cash and short-term investments: $97.6 million (Q1 2025) • Current ratio: 1.75x indicating adequate short-term liquidity • Total debt-to-equity ratio: 1.54x, elevated but manageable for an asset manager • Strong operating cash flow generation: $1.0 billion in FY 2024 • Free cash flow: $935 million in FY 2024, demonstrating solid cash generation Valuation Metrics: • Price-to-earnings ratio: 85.5x (Q1 2025), reflecting high growth expectations • Price-to-book ratio: 5.37x, premium valuation typical for successful asset managers • EV/EBITDA: 931x (Q1 2025), distorted by low reported EBITDA due to accounting treatment • Return on equity: 1.57% (Q1 2025), relatively low but improving from acquisition impacts Other Considerations: • Asset quality appears strong with low historical loss rates in credit portfolio • Permanent capital structure provides revenue stability • Rapid growth through acquisitions creates integration risks • Exposure to credit cycles and interest rate changes
Recent development
Over the past few years, Blue Owl has pursued an aggressive growth strategy through strategic acquisitions and product expansion. The company completed several significant acquisitions including Atalaya Capital Management in alternative credit, Prima Capital in real estate credit, Kuvare Asset Management for insurance solutions, and most notably IPI Partners for digital infrastructure investments, adding $14 billion in AUM. The firm has successfully expanded its private wealth distribution capabilities, launching The Nest platform for wealth advisors and achieving record private wealth fundraising of over $4 billion in recent quarters. This represents a strategic shift toward accessing retail investor capital, which historically has been dominated by institutional investors. Blue Owl has also focused on product innovation and diversification, launching new strategies including European net lease investments, GP-led continuation funds, and expanding into healthcare through previous acquisitions. The company completed the merger of its two business development companies (OBDC and OBDE) to create one of the largest publicly traded BDCs, enhancing its permanent capital base. International expansion has become a key priority, with the firm raising capital from international investors and exploring European direct lending opportunities. The company has also been preparing for the merger and potential listing of its OTF/OTF II funds, which would further expand its permanent capital platform. Throughout this expansion, Blue Owl has maintained its focus on fee-related earnings growth, targeting mid-20% FRE growth rates while managing margin compression from lower-margin acquisitions through operational leverage and cross-selling opportunities.
OWL company profile · for informational purposes only — not investment advice.
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