Blue Owl Capital
Lends primarily senior secured capital to U.S. middle-market companies.
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Profile
Generates current income mainly through senior secured loans to U.S. middle-market companies. The publicly traded BDC is externally managed by Blue Owl Credit Advisors and holds a diversified private-credit portfolio.
Provides direct loans to U.S. middle-market companies, seeking current income and, to a lesser extent, capital appreciation. Senior secured, subordinated, and mezzanine loans sit alongside equity-related instruments, with first-lien debt forming most of the portfolio.
Blue Owl Credit Advisors, an affiliate of Blue Owl Capital, externally manages the BDC. Its relationship-oriented Credit platform pursues sizeable commitments for private-company borrowers and describes certainty, speed, and transparency as features of the process.
Investments are concentrated in the United States and spread across many industries. The BDC operates under Investment Company Act requirements, targets regulated-investment-company treatment, and relies on its external adviser and investment committees.
Company facts
Categories
Key statistics
Year to date −10.0% · Average volume (30d) 3.9M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 24, 2026 | Capital One Financial | Target | $13 | |||
| May 19, 2026 | Truist Financial | Target | $15 | $13 | ||
| Feb 23, 2026 | Truist Financial | Target | $15 | |||
| Nov 26, 2025 | RBC Capital | Reiterate | Outperform | $17 | $14 | |
| Oct 7, 2025 | Raymond James | Upgrade | Market Perform | Outperform | $14 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $0.32 | $0.34 | +6.7% | $394.2M | $401.3M | +1.8% | +3.10% |
| May 6, 2026Q1 FY26 | $0.35 | $0.31 | −11.4% | $422.0M | $396.8M | −6.0% | −3.15% |
| Feb 18, 2026Q4 FY25 | $0.35 | $0.36 | +2.9% | $446.8M | $447.8M | +0.2% | −1.04% |
| Nov 5, 2025Q3 FY25 | $0.39 | $0.36 | −7.7% | $454.4M | $291.8M | −35.8% | −5.32% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $404.4M | $298.6M | $291.8M | $407.9M | $311.9M | $401.3M | |
| Gross profit | $263.0M | $158.8M | $151.6M | $305.9M | $218.8M | $278.4M | |
| Operating income | $247.9M | $140.0M | $132.8M | $265.9M | $112.4M | $176.9M | |
| Net income | $242.6M | $137.5M | $128.2M | $119.1M | −$24.4M | $65.7M | |
| Diluted EPS | $0.49 | $0.27 | $0.25 | $0.23 | −$0.05 | $0.13 | |
| Gross margin | 65.0% | 53.2% | 52.0% | 75.0% | 70.1% | 69.4% | |
| Operating margin | 61.3% | 46.9% | 45.5% | 65.2% | 36.0% | 44.1% |
Fiscal years (4-quarter sums)FY21 $882.3M · FY22 $808.8M · FY23 $1.27B · FY24 $1.10B · FY25 $1.40B
Balance sheet, Jun 30, 2026Cash & short-term investments $237.4M · Total debt $6.10B · Total assets $15.35B · Shareholders' equity $7.03B
Dividends
Raised for 4 straight years. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 30, 2026 | Jun 30 | Jul 15 | $0.31 | cut from $0.37 |
| Mar 31, 2026 | Mar 31 | Apr 15 | $0.37 | |
| Dec 31, 2025 | Dec 31 | Jan 15 | $0.37 | |
| Sep 30, 2025 | Sep 30 | Oct 15 | $0.37 | |
| Aug 29, 2025 | Aug 29 | Sep 15 | $0.02 | special dividend |
| Jun 30, 2025 | Jun 30 | Jul 15 | $0.37 | |
| May 30, 2025 | May 30 | Jun 13 | $0.01 | special dividend |
| Mar 31, 2025 | Mar 31 | Apr 15 | $0.37 |
Ownership
Shares outstanding 496.31M · Float 491.10M · 99.0% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| California State Teachers Retirement System | 16.45M | 3.31% | 13F | Aug 24, 2026 |
| State of New Jersey Common Pension Fund A | 15.26M | 3.08% | 13F | Jul 27, 2026 |
| Oregon Public Employees Retirement Fund | 14.57M | 2.94% | 13F | Jul 29, 2026 |
| STRS Ohio | 13.47M | 2.71% | 13F | Jul 30, 2026 |
| FMR LLC | 11.77M | 2.37% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 20, 2026 | Logan Nicholson | officer: President | +3,000 | $11.29 |
| May 11, 2026 | Eric A. Kaye | director | +1,000 | $11.21 |
| Feb 25, 2026 | Eric A. Kaye | director | +1,000 | $11.91 |
| Feb 27, 2026 | Logan Nicholson | officer: President | +10,000 | $11.32 |
| Nov 26, 2025 | Neena Reddy | officer: Vice President and Secretary | +7,890 | $13.06 |
Peers
- Ares Capital
Large U.S. direct lender in senior secured middle-market credit
- Blackstone Secured Lending Fund
First-lien private-credit lender to U.S. companies
- FS KKR Capital
Direct-originating lender to private U.S. middle-market companies
- Golub Capital BDC
First-lien lender to sponsor-backed U.S. middle-market companies
- Sixth Street Specialty Lending
Direct-originating senior secured lender to U.S. middle-market companies
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Blue Owl Capital | $11.37 | +0.64% | $5.61B | 20.2 | 8.8 | 4.0 | −20.8% |
| Ares Capital | $19.97 | +0.15% | $14.32B | 14.8 | 10.3 | 6.2 | +32.6% |
| Blackstone Secured Lending Fund | $24.83 | +0.35% | $5.76B | 19.6 | 9.5 | 5.4 | +25.9% |
| FS KKR Capital | $12.22 | −0.41% | $3.43B | — | 7.8 | 3.6 | +11.5% |
| Golub Capital BDC | $13.03 | +0.04% | $3.39B | 23.7 | 10.1 | 4.7 | −14.2% |
| Sixth Street Specialty Lending | $18.74 | −0.11% | $1.78B | 19.7 | 10.5 | 5.2 | −13.0% |
| Median | 19.7 | 10.1 | 5.2 | +11.5% |