Blue OWL Capital Inc. (OWL)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Revenue, last twelve months

$572.3M

Revenue growth

4.3%

Net income, last twelve months

$80.9M

Earnings per share

$0.12

Operating margin

-334.2%

Net margin

14.1%

Free cash flow

$1.3B

Return on equity

4.1%

Market value

$6.7B

Price to earnings

80.8x

Dividend yield

9.3%

Cash

$169.1M

Debt

$3.8B

Debt to equity

1.91

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

What the company said with its results

From the third quarter 2026 results, filed 29 October 2026.

• Assets under management reached $330 billion. Assets under management were $330 billion at September 30, 2026, up from $319 billion at June 30, 2026 as reported in the prior release.
• Nearly $50 billion raised over twelve months. Management said the company raised nearly $50 billion over the last twelve months, which it linked to ongoing investor support and conviction in its disciplined approach.
• Investment results described as continuing. Management said its strategies continue to generate investment results. The release gives no return or performance figures.
• Three platforms named. The company named three multi-strategy platforms: Credit, Real Assets and GP Strategic Capital. The same platform list appeared in the prior release.
• Growth spread across strategies and geographies. Management said growth came from an increasingly broad set of strategies, investors and geographies.
• Detailed presentation issued separately. The company issued a full detailed presentation for the quarter on its website. The release itself contains no segment or regional figures.
• Record quarter for institutional fundraising. Management described the quarter as a record for institutional capital raising.
• Income-oriented returns gain investor focus. Management said its focus on income-oriented returns, with protection emphasized, becomes more important to investors during volatile and uncertain markets.
• Scaled, partnership-driven approach valued. Management said its scaled, partnership-driven approach is increasingly valuable to borrowers, tenants and counterparties.
• Quarterly dividend of $0.23 declared. The company declared a quarterly dividend of $0.23 per Class A share, the same amount as in the prior release.
• Payment set for November 23. The dividend is payable on November 23, 2026, to holders of record at the close of business on November 10, 2026.
• Prior dividend dates were August. The prior release set payment for August 27, 2026, with a record date of August 13, 2026.
• About 1,430 professionals globally. The company reported approximately 1,430 experienced professionals globally, up from over 1,380 in the prior release.
• Co-CEOs named as speakers. The release is attributed to Doug Ostrover and Marc Lipschultz, Co-CEOs.

Company events

The newest 8-K filings of 84 held.

Every filing

The newest filings with the SEC of 210 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Planned insider sales

Form 144 notices, filed when the sell order goes to the broker.

Large holders

Schedule 13D and 13G filings by holders of more than 5% of the voting shares.

Trades by members of the House

From each member's periodic transaction report.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

666 funds held it at 30 Jun 2026: 343 added and 159 trimmed in the quarter. The largest:

Peers

Companies in the same industry.

• Blackstone Inc. (BX): revenue $16.1B, market value $88.1B
• KKR & Co. Inc. (KKR): revenue $21.3B, market value $83.5B
• Brookfield Asset Management Ltd. (BAM): revenue $5.7B, market value $76.4B
• Apollo Global Management, Inc. (APO): revenue $35.9B, market value $65.4B
• Ameriprise Financial Inc. (AMP): revenue $19.5B, market value $43.3B
• Ares Management Corp. (ARES): revenue $6.0B, market value $38.8B
• T. Rowe Price Group, Inc. (TROW): revenue $7.6B, market value $22.2B
• TPG Inc. (TPG): revenue $5.1B, market value $17.2B
• Franklin Templeton Inc. (BEN): revenue $9.3B, market value $16.1B
• Carlyle Group Inc. (CG): revenue $3.6B, market value $13.8B

What the company does

Blue Owl is a global alternative asset manager with $307.4 billion in AUM as of 31 December 2025, of which $187.7 billion is FPAUM, the assets on which it generally earns management fees. It invests private capital for institutional and private wealth clients across three platforms: Credit, Real Assets and GP Strategic Capital. About 85% of its management fees come from what it calls Permanent Capital vehicles. It has approximately 1,365 full-time employees globally.

How the business is organised

Blue Owl was formed in May 2021 by combining Owl Rock, founded in 2016, with Dyal Capital, founded in 2010. It added Oak Street, founded in 2009, in December 2021. Later acquisitions brought in Wellfleet (broadly syndicated leveraged loans and CLOs), Par Four, CHI (biopharmaceutical and healthcare investments), Prima (real estate finance), KAM (insurance clients), Atalaya (alternative credit) and IPI (digital infrastructure).

The company is a publicly traded holding company. It runs its business through the Blue Owl Operating Group. Management reviews the firm as a whole, so it reports a single segment.

What it manages

It lends mainly to upper-middle-market companies, both private equity-sponsored and non-sponsored. The platform also includes alternative credit, investment grade credit (tailored for insurance companies), liquid credit and other strategies. Credit products are offered through BDCs, an interval fund called OWLCX, long-dated private funds, managed accounts and CLOs.

It has three strategies: - Net lease, at $45.9 billion in AUM, covers mainly single-tenant properties leased to investment-grade or creditworthy tenants. - Real estate credit covers financing across public and private markets. - Digital infrastructure covers acquiring, financing, developing and operating data centers and related assets.

These products are offered mainly through Permanent Capital vehicles, including non-traded REITs, and long-dated private funds.

It buys minority equity stakes in large private equity and private credit firms, which the company calls Partner Managers. It also provides debt financing to these managers and holds minority stakes in professional sports teams. Its Business Services Platform gives Partner Managers support in areas such as capital strategy, private wealth, human capital and operations.

How it earns its fees

Revenues come mainly from investment advisory and management agreements with its products. Management fees are generally earned on FPAUM. The company also had $28.4 billion in AUM not yet paying fees as of 31 December 2025. This is mostly unfunded commitments and undeployed debt, plus AUM under a temporary fee holiday.

Permanent Capital vehicles generally have an indefinite term. They are not required to exit investments after a set period to return capital, except as the law requires or through redemption requests that can only be made after lock-up periods. Funds with a remaining contractual life of five years or more are called long-dated.

Advisory contracts with its Regulated Products can be terminated by their stockholders or boards on not more than 60 days' notice. They are renewed annually by each product's board after an initial two-year term.

Who invests with it

Investors include public and private pension funds, endowments, foundations, family offices, sovereign wealth funds, asset managers and insurance companies. Individual investors reach the products through wealth management firms and private banks. About 33% of institutional investors were invested in more than one product as of 31 December 2025. As of that date, 25 institutional investors had committed at least $1 billion across the strategies, 53 at least $500 million and 101 at least $250 million. About 75% of capital was raised in the United States and Canada.

Who it competes with

The company describes investment management as intensely competitive. In Credit it competes with other credit managers, BDCs, banks, commercial finance companies, private equity and hedge funds. In Real Assets it competes with private equity real estate funds, REITs, real estate lenders and other asset managers. In digital infrastructure it competes with other funds and operators. The company says its GP Strategic Capital products face limited direct competition from organisations dedicated to buying stakes in large private capital managers.

How it is regulated

Several Blue Owl entities are registered investment advisers with the SEC under the Investment Advisers Act of 1940. Its BDCs and OWLCX are regulated under the Investment Company Act. Blue Owl Securities is an SEC-registered broker-dealer and a member of FINRA.

Outside the United States, Blue Owl Capital UK Limited is regulated by the Financial Conduct Authority. Blue Owl Capital Japan is registered with the Kanto Local Finance Bureau and the Japan Financial Services Agency. Blue Owl Capital (Dubai) Limited is authorized by the Dubai Financial Services Authority. Blue Owl Capital HK Limited is licensed by the Securities & Futures Commission of Hong Kong.

*From Blue Owl's annual report on Form 10-K for the year ended 31 December 2025. [The filing](https://www.sec.gov/Archives/edgar/data/1823945/000182394526000009/owl-20251231.htm)*

From the company's 10-K.