Blue Owl Capital Inc (OWL)
NYSE:OWL
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Blue Owl Capital
(NYSE:OWL)
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Rating:68Neutral
Price Target:
$11.00
â–²(11.68% Upside)
Action:Reiterated
Date:06/05/26
OWL scores well on financial quality driven by strong free cash flow and improved leverage, and the latest earnings call reinforced durable growth drivers (fundraising, embedded fee growth, and reaffirmed 2026 targets). The score is held back by high P/E valuation relative to thin net profitability/ROE, and a mixed technical backdrop that is still below longer-term moving averages.
Positive Factors
Cash Generation
Robust operating and free cash flow provides durable financial flexibility for Blue Owl. Strong cash conversion versus net income supports reinvestment in origination and pipelines, selective debt reduction, and sustaining dividend/payout policy despite incentive income timing variability.
Negative Factors
Thin Profitability
Reported net margins and ROE remain low relative to the capital base, reflecting incentive timing, expense and non-operating volatility. Thin, historically variable bottom-line profitability can limit long-term shareholder returns and complicate sustainable payout expansion despite strong cash flows.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash Generation
Robust operating and free cash flow provides durable financial flexibility for Blue Owl. Strong cash conversion versus net income supports reinvestment in origination and pipelines, selective debt reduction, and sustaining dividend/payout policy despite incentive income timing variability.
Read all positive factors
Blue Owl Capital (OWL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$15.89B
Dividend Yield5.45%
Average Volume (3M)28.89M
Price to Earnings (P/E)76.7
Beta (1Y)1.76
Revenue Growth19.26%
EPS Growth-20.10%
CountryUS
Employees1,200
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)0.13
Shares Outstanding675,802,400
10 Day Avg. Volume24,615,829
30 Day Avg. Volume28,891,968
Financial Highlights & Ratios
PEG Ratio-3.20
Price to Book (P/B)4.58
Price to Sales (P/S)3.52
P/FCF Ratio8.43
Enterprise Value/Market Cap1.27
Enterprise Value/Revenue6.88
Enterprise Value/Gross Profit10.68
Enterprise Value/Ebitda20.93
Forecast
1Y Price Target
$12.35Price Target Upside25.38% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering11
EPS Forecast (FY)0.88
Revenue Forecast (FY)$2.86B
Blue Owl Capital Business Overview & Revenue Model
Company Description
Blue Owl Capital Inc. operates as an asset manager. It offers permanent capital base solutions that enables it to offer a holistic platform to middle market companies, large alternative asset managers, and corporate real estate owners and tenants....
How the Company Makes Money
Blue Owl makes money primarily by earning recurring fees and performance-based income from managing alternative investment products.
1) Management fees (recurring base revenue): The company earns management fees for overseeing assets under manage...
Blue Owl Capital Earnings Call Summary
Earnings Call Date:Apr 30, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call emphasized strong fundraising, diversified platform growth, solid investment performance, and modest margin expansion, while acknowledging headline-driven redemption activity, softer retail flows, rising LTVs in software, and some near-term revenue outcome uncertainty. On balance, the business fundamentals — sizable LTM fundraising ($57B), strong LTM returns across strategies, growing real assets and digital infrastructure pipelines, and modest FRE margin expansion — outweigh the contained near-term retail/redemption headwinds and sector-specific valuation risks.Positive Updates
Top-Line and Earnings Growth
Revenues increased 13% year-over-year; fee related earnings (FRE) grew 14% and distributable earnings (DE) rose 11% versus 2025. Reported FRE per share was $0.25 and DE per share was $0.19 for Q1 2026.
Negative Updates
Industry-Wide Redemption Pressure and Retail Softness
Industry attention on private credit led to elevated redemption requests across the sector. Blue Owl experienced net outflows of ~ $170 million from OCIC and OTIC in Q1 (less than six basis points of beginning-of-period AUM); private wealth fundraising was softer year-over-year.
Read all updates
Q1-2026 Updates
Positive
Negative
Top-Line and Earnings Growth
Revenues increased 13% year-over-year; fee related earnings (FRE) grew 14% and distributable earnings (DE) rose 11% versus 2025. Reported FRE per share was $0.25 and DE per share was $0.19 for Q1 2026.
Read all positive updates
Company Guidance
Management reiterated its 2026 targets and confidence: a 58.5% FRE margin goal and a $0.92 annual dividend (quarterly $0.23 declared for Q1 payable May 27); Q1 results included FRE $0.25/share and DE $0.19/share while revenues rose 13%, FRE +14% and DE +11% year-over-year. Fundraising and AUM metrics were highlighted—$57 billion raised over the last 12 months and $11 billion in Q1 (institutional = $6.1 billion, ~2/3 of equity; 47% to credit, 40% real assets, 13% GP strategic; 33 new institutional clients); AUM not yet paying fees = $30 billion (~$350 million of expected annual management fees, ~14% embedded growth). They closed BOSE and ASOP 9 at roughly $3 billion each, reported direct lending LTM gross returns of 8.5% (alternative credit 11%, net lease 14.7%, OCIC 9.1% since inception), direct lending LTM growth/net originations of $39.4B/$8.2B, Q1 repaymts $6.4B (>$27B in 2025), average annual loss rate ~12 bps, LTVs moved into the low‑40s (software from low‑30s to low‑40s), real assets AUM $85B (+27% YoY) with net lease pipeline ~$50B and digital infrastructure pipeline >$100B, and modest net outflows from OCIC/OTIC of ~ $170M (under 6 bps of beginning AUM).Blue Owl Capital Financial Statement Overview
Summary
Income Statement
70
Positive
Balance Sheet
64
Positive
Cash Flow
82
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.94B | 2.87B | 2.30B | 1.73B | 1.37B | 823.88M |
| Gross Profit | 1.89B | 1.59B | 1.28B | 860.97M | 475.04M | -673.11M |
| EBITDA | 967.05M | 941.12M | 866.04M | 632.65M | 269.67M | -1.73B |
| Net Income | 86.94M | 78.83M | 109.58M | 54.34M | -9.29M | -376.17M |
Balance Sheet | ||||||
| Total Assets | 12.41B | 12.47B | 10.99B | 8.82B | 8.89B | 8.27B |
| Cash, Cash Equivalents and Short-Term Investments | 190.46M | 194.51M | 152.09M | 104.16M | 68.08M | 42.57M |
| Total Debt | 4.36B | 3.86B | 2.98B | 2.00B | 1.86B | 1.26B |
| Total Liabilities | 6.63B | 6.41B | 5.19B | 3.54B | 3.34B | 2.42B |
| Stockholders Equity | 2.10B | 2.21B | 2.13B | 1.53B | 1.60B | 1.66B |
Cash Flow | ||||||
| Free Cash Flow | 1.28B | 1.20B | 935.37M | 881.24M | 662.91M | 276.40M |
| Operating Cash Flow | 1.34B | 1.26B | 999.55M | 949.14M | 728.45M | 281.66M |
| Investing Cash Flow | -102.10M | -241.28M | -638.14M | -118.03M | -485.22M | -1.60B |
| Financing Cash Flow | -1.15B | -972.33M | -313.48M | -795.03M | -217.72M | 1.35B |
Blue Owl Capital Technical Analysis
Negative
9.85
Price Trends
9.41
Positive
10.42
Negative
13.00
Negative
Market Momentum
0.13
Positive
49.36
Neutral
28.85
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OWL, the sentiment is Negative. The current price of 9.85 is below the 20-day moving average (MA) of 9.93, above the 50-day MA of 9.41, and below the 200-day MA of 13.00, indicating a neutral trend. The MACD of 0.13 indicates Positive momentum. The RSI at 49.36 is Neutral, neither overbought nor oversold. The STOCH value of 28.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for OWL.
Blue Owl Capital Risk Analysis
Blue Owl Capital disclosed 76 risk factors in its most recent earnings report. Blue Owl Capital reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Blue Owl Capital Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $144.81B | 29.59 | 36.16% | 3.02% | 17.79% | 17.92% | |
68 Neutral | $15.89B | 76.69 | 3.89% | 5.45% | 19.26% | -20.10% | |
68 Neutral | $16.20B | 47.00 | 12.56% | 3.03% | 11.60% | 28307.69% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
63 Neutral | $40.60B | 46.94 | 14.54% | 2.65% | 46.89% | 21.89% | |
62 Neutral | $85.71B | 28.10 | 9.92% | 0.56% | 35.81% | 27.22% | |
54 Neutral | $15.67B | 28.58 | 9.65% | 2.30% | -26.37% | -49.86% |
* Financial Sector Average
OWL
Blue Owl Capital
9.80
-8.18
-45.49%
KKR
KKR & Co
93.40
-29.18
-23.81%
BX
Blackstone Group
115.35
-20.18
-14.89%
CG
Carlyle Group
43.48
-1.61
-3.58%
ARES
Ares Management
125.65
-42.59
-25.31%
TPG
TPG
41.19
-6.93
-14.41%
Blue Owl Capital Corporate Events
Executive/Board ChangesShareholder Meetings
Blue Owl Capital Stockholders Approve Directors and Auditor
Positive
Jun 4, 2026
On June 4, 2026, Blue Owl Capital Inc. held its annual meeting of stockholders, with holders of Class A, C and D common shares voting together and representing 6.07 billion of the 6.27 billion eligible votes. The company’s multi-class struct...
Business Operations and StrategyDividendsFinancial Disclosures
Blue Owl Capital Posts Q1 Growth, Raises Dividend
Positive
Apr 30, 2026
On April 30, 2026, Blue Owl Capital Inc. reported first-quarter 2026 results that highlighted continued expansion of its three-platform model and growth in assets under management to $315 billion. Management emphasized the stability of its durable...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.