Blue Owl Capital Inc Financials

OWL

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Blue Owl Capital Inc (OWL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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).

Financial Health Signals

Financial Profile 72/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

100

Blue Owl Capital Inc's revenue surged 32.6% year-over-year to $2.3B, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

Blue Owl Capital Inc carries a low D/E ratio of 1.22, meaning only $1.22 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 66/100, indicating a strong balance sheet with room for future borrowing.

Cash Flow

100

Blue Owl Capital Inc converts 40.8% of revenue into free cash flow ($935.4M). This strong cash generation earns a score of 100/100.

Returns

Blue Owl Capital Inc generates a 5.1% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 21/100. This is up from 3.6% the prior year.

Piotroski F-Score Neutral

5/9

Blue Owl Capital Inc passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Cash-Backed

9.12x

For every $1 of reported earnings, Blue Owl Capital Inc generates $9.12 in operating cash flow ($999.6M OCF vs $109.6M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Revenue

$2.3B

YoY+32.6%

5Y CAGR+64.5%

Blue Owl Capital Inc generated $2.3B in revenue in fiscal year 2024. This represents an increase of 32.6% from the prior year.

EBITDA

N/A

Free Cash Flow

$935.4M

YoY+6.1%

5Y CAGR+85.2%

Blue Owl Capital Inc generated $935.4M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 6.1% from the prior year.

Net Income

$109.6M

YoY+101.7%

5Y CAGR+36.7%

Blue Owl Capital Inc reported $109.6M in net income in fiscal year 2024. This represents an increase of 101.7% from the prior year.

EPS (Diluted)

$0.20

YoY+100.0%

Blue Owl Capital Inc earned $0.20 per diluted share (EPS) in fiscal year 2024. This represents an increase of 100.0% from the prior year.

Cash & Debt

$152.1M

YoY+46.0%

5Y CAGR+83.3%

Blue Owl Capital Inc held $152.1M in cash against $2.6B in long-term debt as of fiscal year 2024.

Dividends Per Share

$0.68

YoY+23.6%

Blue Owl Capital Inc paid $0.68 per share in dividends in fiscal year 2024. This represents an increase of 23.6% from the prior year.

Shares Outstanding

N/A

Gross Margin

N/A

Operating Margin

N/A

Net Margin

4.8%

YoY+1.6pp

5Y CAGR-7.3pp

Blue Owl Capital Inc's net profit margin was 4.8% in fiscal year 2024, showing the share of revenue converted to profit. This is up 1.6 percentage points from the prior year.

Return on Equity

5.1%

YoY+1.6pp

Blue Owl Capital Inc's ROE was 5.1% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 1.6 percentage points from the prior year.

R&D Spending

N/A

Share Buybacks

Blue Owl Capital Inc spent $0 on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures

$64.2M

YoY-5.5%

5Y CAGR+122.7%

Blue Owl Capital Inc invested $64.2M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 5.5% from the prior year.

OWL Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$2.3B+32.6%	$1.7B+26.4%	$1.4B+66.3%	$823.9M+229.8%	$249.8M+30.9%	$190.8M
Cost of Revenue	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
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$412.9M+70.1%	$242.8M+10.1%	$220.6M+57.3%	$140.3M+106.9%	$67.8M+31.1%	$51.7M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$121.9M+61.0%	$75.7M+26.0%	$60.1M+117.1%	$27.7M+16.1%	$23.8M+257.5%	$6.7M
Income Tax	$48.8M+90.5%	$25.6M+373.0%	-$9.4M+85.6%	-$65.2M-63832.4%	-$102K-142.5%	$240K
Net Income	$109.6M+101.7%	$54.3M+685.0%	-$9.3M+97.5%	-$376.2M-383.3%	-$77.8M-439.0%	$23.0M
EPS (Diluted)	$0.20+100.0%	$0.10+600.0%	$-0.02	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$728.0M+3.5%	$703.1M+2.9%	$683.5M+8.3%	$631.4M+14.8%	$549.8M+7.1%	$513.3M+3.9%	$494.0M+15.0%	$429.6M
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	$181.3M-3.6%	$188.1M-1.4%	$190.8M+57.2%	$121.4M+29.9%	$93.5M+21.8%	$76.7M+10.1%	$69.7M+6.4%	$65.5M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$42.4M+0.9%	$42.0M+9.0%	$38.5M+18.2%	$32.6M-0.4%	$32.7M+45.5%	$22.5M-24.5%	$29.8M+112.9%	$14.0M
Income Tax	$7.9M-42.4%	$13.8M+275.8%	$3.7M+21.7%	$3.0M-83.4%	$18.2M+23.2%	$14.8M+374.3%	$3.1M-70.8%	$10.7M
Net Income	$6.3M-63.8%	$17.4M+134.5%	$7.4M-64.2%	$20.7M-38.9%	$33.9M+35.3%	$25.1M+38.9%	$18.1M+19.5%	$15.1M
EPS (Diluted)	$0.01-50.0%	$0.02	$0.00-100.0%	$0.060.0%	$0.06+50.0%	$0.04+33.3%	$0.030.0%	$0.03

OWL Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$11.0B+24.7%	$8.8B-0.8%	$8.9B+7.6%	$8.3B+6698.2%	$121.6M	N/A
Current Assets	N/A	N/A	N/A	N/A	$1.3M	N/A
Cash & Equivalents	$152.1M+46.0%	$104.2M+53.0%	$68.1M+59.9%	$42.6M+266.0%	$11.6M+58.4%	$7.3M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$26.6M+68.0%	$15.9M+32.8%	$11.9M+142.7%	$4.9M	N/A	N/A
Goodwill	$4.7B+11.3%	$4.2B+0.5%	$4.2B+1.8%	$4.1B	$0	N/A
Total Liabilities	$8.9B+21.6%	$7.3B0.0%	$7.3B+10.4%	$6.6B+5563.0%	$116.6M	N/A
Current Liabilities	N/A	N/A	N/A	N/A	$142K	N/A
Long-Term Debt	$2.6B+54.0%	$1.7B+3.5%	$1.6B+38.4%	$1.2B+229.5%	$356.4M	N/A
Total Equity	$2.1B+39.2%	$1.5B-4.8%	$1.6B-3.5%	$1.7B+33171.3%	$5.0M+101.4%	-$350.5M
Retained Earnings	-$1.1B-29.3%	-$882.9M-28.1%	-$689.3M-38.6%	-$497.5M-9319.8%	-$5.3M	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$12.5B+1.5%	$12.3B-0.1%	$12.3B+11.8%	$11.0B+13.8%	$9.7B+7.5%	$9.0B+1.9%	$8.8B+0.5%	$8.8B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$137.3M+16.7%	$117.6M+20.5%	$97.6M-35.8%	$152.1M-65.2%	$436.8M+180.4%	$155.8M+49.5%	$104.2M+35.8%	$76.7M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$23.2M-8.7%	$25.4M-8.6%	$27.8M+4.5%	$26.6M+119.4%	$12.1M+6.6%	$11.4M-28.2%	$15.9M-4.1%	$16.5M
Goodwill	$5.6B0.0%	$5.6B0.0%	$5.6B+19.7%	$4.7B+9.3%	$4.3B+1.8%	$4.2B0.0%	$4.2B0.0%	$4.2B
Total Liabilities	$10.2B+2.5%	$9.9B-0.2%	$10.0B+12.3%	$8.9B+12.0%	$7.9B+7.8%	$7.3B+0.7%	$7.3B+0.8%	$7.2B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$3.2B-0.3%	$3.2B+1.6%	$3.2B+23.2%	$2.6B+5.3%	$2.5B+18.6%	$2.1B+23.2%	$1.7B-3.7%	$1.7B
Total Equity	$2.3B-2.3%	$2.4B+0.7%	$2.3B+9.8%	$2.1B+21.8%	$1.7B+6.1%	$1.6B+7.7%	$1.5B-0.9%	$1.5B
Retained Earnings	-$1.5B-10.2%	-$1.4B-9.9%	-$1.2B-9.0%	-$1.1B-16.2%	-$982.7M-6.5%	-$923.0M-4.5%	-$882.9M-5.5%	-$837.1M

OWL Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$999.6M+5.3%	$949.1M+30.3%	$728.4M+158.6%	$281.7M+5281.3%	$5.2M-88.1%	$44.1M
Capital Expenditures	$64.2M-5.5%	$67.9M+3.6%	$65.5M+1145.8%	$5.3M+706.9%	$652K-44.4%	$1.2M
Free Cash Flow	$935.4M+6.1%	$881.2M+32.9%	$662.9M+139.8%	$276.4M+5932.2%	$4.6M-89.3%	$42.9M
Investing Cash Flow	-$638.1M-440.7%	-$118.0M+75.7%	-$485.2M+69.7%	-$1.6B-245125.8%	-$652K+44.4%	-$1.2M
Financing Cash Flow	-$313.5M+60.6%	-$795.0M-265.2%	-$217.7M-116.1%	$1.3B+457100.3%	-$295K+99.3%	-$43.0M
Dividends Paid	$368.3M+48.6%	$247.9M+35.8%	$182.6M+287.8%	$47.1M	$0	$0
Share Buybacks	$0	$0-100.0%	$78.8M	$0	$0	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$433.1M+2.5%	$422.5M+2302.5%	$17.6M-94.6%	$324.0M+7.2%	$302.3M+539.8%	$47.2M-84.7%	$308.3M+9.5%	$281.7M
Capital Expenditures	$10.6M+5.8%	$10.0M-24.7%	$13.3M-4.2%	$13.9M-57.7%	$32.9M+435.6%	$6.1M-81.7%	$33.5M+81.1%	$18.5M
Free Cash Flow	$422.5M+2.4%	$412.5M+9614.1%	$4.2M-98.6%	$310.1M+15.1%	$269.4M+555.4%	$41.1M-85.0%	$274.8M+4.4%	$263.2M
Investing Cash Flow	-$21.5M+67.1%	-$65.2M+66.9%	-$197.0M-325.7%	-$46.3M+65.6%	-$134.7M-778.5%	-$15.3M+35.9%	-$23.9M+35.7%	-$37.2M
Financing Cash Flow	-$392.0M-16.2%	-$337.3M-369.9%	$125.0M+151.7%	-$241.6M-313.0%	$113.4M+476.1%	$19.7M+107.7%	-$257.0M-22.9%	-$209.1M
Dividends Paid	$146.5M+4.0%	$140.8M+28.0%	$110.0M+1.7%	$108.2M+15.5%	$93.7M+43.7%	$65.2M+2.2%	$63.8M+0.2%	$63.7M
Share Buybacks	$0	N/A	N/A	$0	N/A	N/A	$0	$0

OWL Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	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
Net Margin	4.8%+1.6pp	3.1%+3.8pp	-0.7%+45.0pp	-45.7%-14.5pp	-31.2%-43.2pp	12.0%
Return on Equity	5.1%+1.6pp	3.6%	N/A	N/A	N/A	N/A
Return on Assets	1.0%+0.4pp	0.6%+0.7pp	-0.1%+4.5pp	-4.5%+59.5pp	-64.0%	N/A
Current Ratio	N/A	N/A	N/A	N/A	8.99	N/A
Debt-to-Equity	1.22+0.1	1.10+0.1	1.01+0.3	0.71-70.6	71.28	N/A
FCF Margin	40.8%-10.1pp	50.9%+2.5pp	48.4%+14.8pp	33.6%+31.7pp	1.8%-20.6pp	22.5%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
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	0.9%-1.6pp	2.5%+1.4pp	1.1%-2.2pp	3.3%-2.9pp	6.2%+1.3pp	4.9%+1.2pp	3.7%+0.1pp	3.5%
Return on Equity	0.3%-0.5pp	0.7%+0.4pp	0.3%-0.7pp	1.0%-1.0pp	1.9%+0.4pp	1.5%+0.3pp	1.2%+0.2pp	1.0%
Return on Assets	0.1%-0.1pp	0.1%+0.1pp	0.1%-0.1pp	0.2%-0.2pp	0.4%+0.1pp	0.3%+0.1pp	0.2%+0.0pp	0.2%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.41+0.0	1.38+0.0	1.37+0.1	1.22-0.2	1.41+0.1	1.26+0.2	1.10-0.0	1.13
FCF Margin	58.0%-0.6pp	58.7%+58.0pp	0.6%-48.5pp	49.1%+0.1pp	49.0%+41.0pp	8.0%-47.6pp	55.6%-5.6pp	61.3%

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Frequently Asked Questions

What is Blue Owl Capital Inc's annual revenue?

Blue Owl Capital Inc (OWL) reported $2.3B in total revenue for fiscal year 2024. This represents a 32.6% 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 Capital Inc's revenue growing?

Blue Owl Capital Inc (OWL) revenue grew by 32.6% year-over-year, from $1.7B to $2.3B in fiscal year 2024.

Is Blue Owl Capital Inc profitable?

Yes, Blue Owl Capital Inc (OWL) reported a net income of $109.6M in fiscal year 2024, with a net profit margin of 4.8%.

What is Blue Owl Capital Inc's earnings per share (EPS)?

Blue Owl Capital Inc (OWL) reported diluted earnings per share of $0.20 for fiscal year 2024. This represents a 100.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

How much debt does Blue Owl Capital Inc have?

As of fiscal year 2024, Blue Owl Capital Inc (OWL) had $152.1M in cash and equivalents against $2.6B in long-term debt.

What is Blue Owl Capital Inc's net profit margin?

Blue Owl Capital Inc (OWL) had a net profit margin of 4.8% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Does Blue Owl Capital Inc pay dividends?

Yes, Blue Owl Capital Inc (OWL) paid $0.68 per share in dividends during fiscal year 2024.

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

Blue Owl Capital Inc (OWL) has a return on equity of 5.1% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Blue Owl Capital Inc's free cash flow?

Blue Owl Capital Inc (OWL) generated $935.4M in free cash flow during fiscal year 2024. This represents a 6.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Blue Owl Capital Inc's operating cash flow?

Blue Owl Capital Inc (OWL) generated $999.6M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Blue Owl Capital Inc's total assets?

Blue Owl Capital Inc (OWL) had $11.0B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Blue Owl Capital Inc's capital expenditures?

Blue Owl Capital Inc (OWL) invested $64.2M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

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

Blue Owl Capital Inc (OWL) had a debt-to-equity ratio of 1.22 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

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

Blue Owl Capital Inc (OWL) had a return on assets of 1.0% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Blue Owl Capital Inc's Piotroski F-Score?

Blue Owl Capital Inc (OWL) has a Piotroski F-Score of 5 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Blue Owl Capital Inc's earnings high quality?

Blue Owl Capital Inc (OWL) has an earnings quality ratio of 9.12x, considered cash-backed (high quality). 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 Capital Inc?

Blue Owl Capital Inc (OWL) scores 72 out of 100 on our Financial Profile, indicating strong 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.