Blue Owl Tech Financials

OTF

Source SEC Filings (10-K/10-Q) Updated May 6, 2026 Currency USD FYE December

This page shows Blue Owl Tech (OTF) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI OTF FY2025 2026-05-06

Balance-sheet expansion drove higher earnings, while cash generation stayed volatile and often depended on outside funding.

From FY2023 to FY2025, total assets more than doubled from $6.7B to $14.7B and net income rose to $720M, yet ROE stayed near 9.0% and ROA near 5.0%. That pattern says the business mostly became larger, not materially more profitable per dollar of capital, so earnings growth came from putting more assets to work rather than from a step-change in efficiency.

The swing from $708M of operating cash flow in FY2023 to -$916M in FY2025 shows reported profit and operating cash can diverge sharply, so annual cash availability is shaped by balance-sheet movements as much as by earnings. With $942M of financing inflow and $394M of dividends paid in FY2025, external capital access remained part of how the business funds itself, not just a backup source.

FY2025 looks like a capital-raising year: shares outstanding jumped from 212.2M to 465.3M. At the same time, total equity rose from $3.6B to $8.0B, which helps explain why the debt-to-equity ratio eased even though borrowings increased.

Financial Health Signals

Financial Profile 20/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Blue Owl Tech's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Leverage

Blue Owl Tech carries a low D/E ratio of 0.78, meaning only $0.78 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 86/100, indicating a strong balance sheet with room for future borrowing.

Returns

Blue Owl Tech's ROE of 9.0% shows moderate profitability relative to equity, earning a score of 32/100. This is up from 8.8% the prior year.

Piotroski F-Score Neutral

4/9

Blue Owl Tech passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality

-1.27x

For every $1 of reported earnings, Blue Owl Tech generates $-1.27 in operating cash flow (-$916.0M OCF vs $720.4M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

$1.3M

YoY+4881.5%

Blue Owl Tech generated $1.3M in revenue in fiscal year 2025. This represents an increase of 4881.5% from the prior year.

EBITDA

N/A

Net Income

$720.4M

YoY+125.7%

Blue Owl Tech reported $720.4M in net income in fiscal year 2025. This represents an increase of 125.7% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$282.9M

YoY+10.1%

Blue Owl Tech held $282.9M in cash against $6.3B in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

465M

YoY+119.3%

Blue Owl Tech had 465M shares outstanding in fiscal year 2025. This represents an increase of 119.3% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

53559.2%

YoY-1128755.6pp

Blue Owl Tech's net profit margin was 53559.2% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1128755.6 percentage points from the prior year.

Return on Equity

9.0%

YoY+0.2pp

Blue Owl Tech's ROE was 9.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.2 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$73.4M

Blue Owl Tech spent $73.4M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

N/A

OTF Income Statement

Metric	FY25	FY24	FY23	FY22	FY21
Revenue	$1.3M+4881.5%	$27K	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A
Interest Expense	$321.5M+66.8%	$192.7M-1.4%	$195.5M+43.2%	$136.5M+45.5%	$93.8M
Income Tax	N/A	N/A	N/A	N/A	N/A
Net Income	$720.4M+125.7%	$319.2M-13.5%	$369.1M+1842.9%	$19.0M-95.5%	$424.8M
EPS (Diluted)	N/A	$1.52-15.6%	$1.80+1900.0%	$0.09-97.0%	$3.05

Metric	Q2'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$693K-3.8%	$720K+66.7%	$432K+213.0%	$138K+150.9%	$55K	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$103.8M+7.0%	$97.1M+13.6%	$85.4M-2.2%	$87.3M+69.0%	$51.7M	N/A	$48.3M-0.4%	$48.5M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$219.9M-206.8%	$205.8M-12.4%	$234.9M+16.6%	$201.5M+157.9%	$78.1M	N/A	$119.5M+1373.0%	$8.1M
EPS (Diluted)	$-0.47	N/A	$0.50+16.3%	$0.43+30.3%	$0.33	N/A	$0.57+1325.0%	$0.04

OTF Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21
Total Assets	$14.7B+118.9%	$6.7B+1.1%	$6.7B-0.2%	$6.7B	N/A
Current Assets	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$282.9M+10.1%	$257.0M-45.2%	$469.0M+130.7%	$203.3M+89.9%	$107.0M
Inventory	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$6.7B+115.4%	$3.1B-0.8%	$3.1B-4.7%	$3.3B	N/A
Current Liabilities	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$6.3B+115.8%	$2.9B-1.1%	$2.9B-6.7%	$3.2B	N/A
Total Equity	$8.0B+121.8%	$3.6B+2.7%	$3.5B+4.2%	$3.4B-4.1%	$3.5B
Retained Earnings	$463.2M+71.1%	$270.8M+9.6%	$247.2M+46.1%	$169.2M	N/A

Metric	Q2'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$14.9B+1.0%	$14.7B+9.8%	$13.4B+2.7%	$13.0B-1.3%	$13.2B+96.6%	$6.7B+0.6%	$6.7B+2.1%	$6.6B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$282.9M0.0%	$282.9M-28.8%	$397.1M+132.9%	$170.5M-83.0%	$1.0B+289.5%	$257.0M+37.8%	$186.5M-43.7%	$331.2M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$7.3B+8.8%	$6.7B+24.8%	$5.3B+5.7%	$5.1B-4.1%	$5.3B+70.2%	$3.1B-0.4%	$3.1B+2.3%	$3.0B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$6.9B+9.8%	$6.3B+26.6%	$5.0B+4.5%	$4.8B-7.3%	$5.1B+75.9%	$2.9B-1.6%	$3.0B+2.9%	$2.9B
Total Equity	$7.6B-5.4%	$8.0B-0.2%	$8.1B+0.9%	$8.0B+0.5%	$7.9B+119.2%	$3.6B+1.4%	$3.6B+1.9%	$3.5B
Retained Earnings	$86.6M-81.3%	$463.2M+27.5%	$363.4M+15.3%	$315.1M+14.0%	$276.4M+2.1%	$270.8M+17.9%	$229.7M+23.0%	$186.7M

OTF Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21
Operating Cash Flow	-$916.0M-1527.8%	$64.2M-90.9%	$708.4M+339.9%	-$295.3M+88.7%	-$2.6B
Capital Expenditures	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	$941.9M+441.1%	-$276.2M+37.6%	-$442.6M-213.0%	$391.6M-85.2%	$2.6B
Dividends Paid	$393.7M+71.2%	$230.0M+10.2%	$208.7M+53.1%	$136.3M+63.7%	$83.3M
Share Buybacks	$73.4M	$0	$0	N/A	N/A

Metric	Q2'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$197.3M+83.7%	-$1.2B-860.4%	$158.7M+138.7%	-$410.2M-175.6%	$542.2M+235.2%	$161.7M+205.3%	-$153.6M-568.0%	-$23.0M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	$402.5M-63.2%	$1.1B+1508.4%	$67.9M+116.2%	-$420.3M-308.3%	$201.8M+321.2%	-$91.2M-1128.5%	$8.9M+106.1%	-$145.6M
Dividends Paid	$167.2M+7.4%	$155.8M+17.6%	$132.4M+13241200.0%	-$1K-100.0%	$105.6M+86.5%	$56.6M-7.1%	$61.0M+8.8%	$56.0M
Share Buybacks	$50.2M-22.3%	$64.6M	N/A	N/A	N/A	$0	N/A	N/A

OTF Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21
Gross Margin	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A
Net Margin	53559.2%-1128755.6pp	1182314.8%	N/A	N/A	N/A
Return on Equity	9.0%+0.2pp	8.8%-1.7pp	10.5%+9.9pp	0.6%-11.5pp	12.0%
Return on Assets	4.9%+0.2pp	4.8%-0.8pp	5.5%+5.3pp	0.3%	N/A
Current Ratio	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.78-0.0	0.80-0.0	0.83-0.1	0.93	N/A
FCF Margin	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-31730.3%-60316.0pp	28585.7%-25797.4pp	54383.1%-91622.0pp	146005.1%+3946.9pp	142058.2%	N/A	N/A	N/A
Return on Equity	-2.9%-5.5pp	2.6%-0.4pp	2.9%+0.4pp	2.5%+1.5pp	1.0%	N/A	3.3%+3.1pp	0.2%
Return on Assets	-1.5%-2.9pp	1.4%-0.4pp	1.8%+0.2pp	1.5%+1.0pp	0.6%	N/A	1.8%+1.7pp	0.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.91+0.1	0.78+0.2	0.62+0.0	0.60-0.1	0.65-0.2	0.80-0.0	0.830.0	0.82
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Blue Owl Tech's annual revenue?

Blue Owl Tech (OTF) reported $1.3M in total revenue for fiscal year 2025. This represents a 4881.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Blue Owl Tech's revenue growing?

Blue Owl Tech (OTF) revenue grew by 4881.5% year-over-year, from $27K to $1.3M in fiscal year 2025.

Is Blue Owl Tech profitable?

Yes, Blue Owl Tech (OTF) reported a net income of $720.4M in fiscal year 2025, with a net profit margin of 53559.2%.

How much debt does Blue Owl Tech have?

As of fiscal year 2025, Blue Owl Tech (OTF) had $282.9M in cash and equivalents against $6.3B in long-term debt.

What is Blue Owl Tech's net profit margin?

Blue Owl Tech (OTF) had a net profit margin of 53559.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Blue Owl Tech's return on equity (ROE)?

Blue Owl Tech (OTF) has a return on equity of 9.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Blue Owl Tech's operating cash flow?

Blue Owl Tech (OTF) generated -$916.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Blue Owl Tech's total assets?

Blue Owl Tech (OTF) had $14.7B in total assets as of fiscal year 2025, including both current and long-term assets.

Does Blue Owl Tech buy back shares?

Yes, Blue Owl Tech (OTF) spent $73.4M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does Blue Owl Tech have outstanding?

Blue Owl Tech (OTF) had 465M shares outstanding as of fiscal year 2025.

What is Blue Owl Tech's debt-to-equity ratio?

Blue Owl Tech (OTF) had a debt-to-equity ratio of 0.78 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Blue Owl Tech's return on assets (ROA)?

Blue Owl Tech (OTF) had a return on assets of 4.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Blue Owl Tech's cash runway?

Based on fiscal year 2025 data, Blue Owl Tech (OTF) had $282.9M in cash against an annual operating cash burn of $916.0M. This gives an estimated cash runway of approximately 4 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Blue Owl Tech's Piotroski F-Score?

Blue Owl Tech (OTF) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Blue Owl Tech's earnings high quality?

Blue Owl Tech (OTF) has an earnings quality ratio of -1.27x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Blue Owl Tech?

Blue Owl Tech (OTF) scores 20 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.