OWL financial statements

The full income statement, balance sheet, and cash-flow statement for Blue Owl Capital Inc. (OWL), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-06 1.44B2024-09 1.49B2024-12 1.50B2025-03 1.54B2025-06 1.55B2025-09 1.56B2025-12 1.56B2026-03 681.1M2026-06 688.5M-52.2% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	2.87B YoY+25.0%	2.30B YoY+32.6%	1.73B YoY+26.4%	1.37B YoY+66.3%	824M YoY+229.8%
Selling, general & administrative	748M YoY+81.1%	413M YoY+70.1%	243M YoY+10.1%	221M YoY+57.3%	140M YoY+106.9%
General & administrative	748M YoY+81.1%	413M YoY+70.1%	243M YoY+10.1%	221M YoY+57.3%	140M YoY+106.9%
Amortization of intangibles	359M YoY+39.0%	258M YoY-14.0%	300M YoY+16.9%	257M YoY+125.6%	114M
Interest expense	164M YoY+34.3%	122M YoY+61.0%	75.7M YoY+26.0%	60.1M YoY+117.1%	27.7M YoY+16.1%
Net interest income	—	23.1M	0.00 YoY+100.0%	-6.00K	—
Other non-operating income	-108M YoY+21.2%	-138M YoY-92.5%	-71.4M YoY-51.6%	-47.1M YoY+95.0%	-940M YoY-3847.8%
Pre-tax income	348M YoY-25.9%	469M YoY+90.4%	246M YoY+596.6%	-49.6M YoY+97.3%	-1.87B YoY-2162.4%
Income tax	42.4M YoY-13.0%	48.8M YoY+90.5%	25.6M YoY+373.0%	-9.38M YoY+85.6%	-65.2M YoY-63832.4%
	78.8M YoY-28.1%	110M YoY+101.7%	54.3M YoY+685.0%	-9.29M YoY+97.5%	-376M YoY-383.3%
Net income to non-controlling interest	227M YoY-27.1%	311M YoY+86.8%	166M YoY+637.8%	-30.9M YoY+97.8%	-1.43B YoY-30834.8%
Net income to common	78.8M YoY-28.1%	110M YoY+101.7%	54.3M YoY+685.0%	-9.29M	—
	$0.10 YoY-50.0%	$0.20 YoY+100.0%	$0.10 YoY+600.0%	-$0.02	—
EPS (basic)	$0.12 YoY-40.0%	$0.20 YoY+66.7%	$0.12 YoY+700.0%	-$0.02	—
	655M YoY+19.3%	549M YoY+18.5%	463M YoY+6.9%	433M	—
	662M YoY+18.5%	558M YoY+16.8%	478M YoY+10.3%	433M	—
Dividends per share	$0.85 YoY+25.7%	$0.68 YoY+23.6%	$0.55 YoY+27.9%	$0.43 YoY+230.8%	$0.13
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Cash & equivalents	195M YoY+27.9%	152M YoY+46.0%	104M YoY+53.0%	68.1M YoY+59.9%	42.6M YoY+266.0%
	12.5B YoY+13.4%	11.0B YoY+24.7%	8.82B YoY-0.8%	8.89B YoY+7.6%	8.27B YoY+6698.2%
Property, plant & equipment	219M YoY+16.6%	188M YoY+39.2%	135M YoY+89.5%	71.2M YoY+795.4%	7.95M YoY+136.9%
Operating lease right-of-use	456M YoY+40.3%	325M YoY+15.4%	282M YoY+25.5%	224M YoY+160.8%	86.0M YoY+523.4%
Goodwill	5.62B YoY+19.7%	4.70B YoY+11.3%	4.22B YoY+0.5%	4.21B YoY+1.8%	4.13B
Intangible assets	2.89B YoY-0.5%	2.90B YoY+37.6%	2.11B YoY-12.3%	2.41B YoY-7.9%	2.61B
Deferred tax assets	1.41B YoY+13.5%	1.25B YoY+59.3%	782M YoY+3.2%	757M YoY+19.1%	636M YoY-20.5%
	6.41B YoY+23.7%	5.19B YoY+46.5%	3.54B YoY+5.8%	3.34B YoY+38.3%	2.42B YoY+288.4%
Long-term debt	3.32B YoY+28.4%	2.59B YoY+54.0%	1.68B YoY+3.5%	1.62B YoY+38.4%	1.17B YoY+229.5%
Operating lease liability (total)	538M YoY+37.9%	390M YoY+22.2%	320M YoY+33.2%	240M YoY+171.1%	88.5M YoY+514.4%
Deferred tax liabilities	39.7M YoY+7.6%	36.9M YoY+7.1%	34.4M YoY-17.6%	41.8M YoY-14.6%	49.0M
	2.21B YoY+3.6%	2.13B YoY+39.2%	1.53B YoY-4.8%	1.60B YoY-3.5%	1.66B YoY+33171.3%
Additional paid-in capital	3.81B YoY+16.6%	3.27B YoY+35.6%	2.41B YoY+5.1%	2.29B YoY+6.2%	2.16B YoY+20920.1%
Retained earnings	-1.61B YoY-41.0%	-1.14B YoY-29.3%	-883M YoY-28.1%	-689M YoY-38.6%	-498M YoY-9319.8%
Accumulated other comprehensive income	1.89M	0.00	—	—	—
Non-controlling interest	3.85B YoY+4.6%	3.68B YoY-1.9%	3.75B YoY-4.9%	3.94B YoY-5.7%	4.18B YoY-35.9%
Total equity incl. non-controlling	6.05B YoY+4.3%	5.81B YoY+10.0%	5.28B YoY-4.9%	5.55B YoY-5.1%	5.85B YoY+1266.8%
Total liabilities & equity	12.5B YoY+13.4%	11.0B YoY+24.7%	8.82B YoY-0.8%	8.89B YoY+7.6%	8.27B YoY+6698.2%
	1.56B YoY+3.8%	1.50B YoY+6.0%	1.41B YoY+1.5%	1.39B YoY-0.4%	1.40B
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	1.26B YoY+25.7%	1000M YoY+5.3%	949M YoY+30.3%	728M YoY+158.6%	282M YoY+5281.3%
Depreciation & amortization	382M YoY+39.1%	275M YoY-11.5%	311M YoY+19.8%	259M YoY+126.3%	115M YoY+16921.4%
Intangible amortization	359M YoY+39.0%	258M YoY-14.0%	300M YoY+16.9%	257M YoY+125.6%	114M
Share-based compensation	674M YoY+115.5%	313M YoY+0.0%	313M YoY-25.7%	421M YoY-65.1%	1.21B
Deferred income taxes	21.2M YoY-20.8%	26.8M YoY+536.4%	4.20M YoY+117.6%	-23.9M YoY+63.8%	-66.1M YoY-13823.8%
	-271M YoY+57.6%	-638M YoY-440.7%	-118M YoY+75.7%	-485M YoY+69.7%	-1.60B YoY-245125.8%
Capital expenditure	57.7M YoY-10.0%	64.2M YoY-5.5%	67.9M YoY+3.6%	65.5M YoY+1145.8%	5.26M YoY+706.9%
Free cash flow	1.20B YoY+28.1%	935M YoY+6.1%	881M YoY+32.9%	663M YoY+139.8%	276M YoY+5932.2%
Acquisitions	245M YoY-45.1%	445M YoY+1595.1%	26.3M YoY-77.1%	114M YoY-92.8%	1.58B
Purchases of investments	94.3M YoY-75.1%	378M YoY+340.3%	85.9M YoY-72.2%	309M YoY-6.0%	329M YoY+996.0%
Sales/maturities of investments	126M YoY-49.5%	250M YoY+302.1%	62.1M YoY+1500.9%	3.88M YoY-98.8%	314M YoY+946.8%
	-943M YoY-200.8%	-313M YoY+60.6%	-795M YoY-265.2%	-218M YoY-116.1%	1.35B YoY+457100.3%
Long-term debt issued	2.27B YoY+4.6%	2.17B YoY+105.7%	1.05B YoY+36.1%	775M YoY-44.3%	1.39B YoY+478.0%
Long-term debt repaid	0.00	0.00	0.00	0.00	0.00
Common stock issued	0.00	0.00	0.00	0.00	0.00
Common stock repurchased	53.7M	0.00	0.00 YoY-100.0%	78.8M	0.00
Dividends paid	547M YoY+48.4%	368M YoY+48.6%	248M YoY+35.8%	183M YoY+287.8%	47.1M
Net change in cash	42.4M YoY-11.5%	47.9M YoY+32.8%	36.1M YoY+41.4%	25.5M YoY-17.5%	30.9M YoY+621.6%
Interest paid	155M YoY+53.6%	101M YoY+41.3%	71.6M YoY+50.0%	47.7M YoY+90.8%	25.0M YoY+7.7%
Income taxes paid	17.1M YoY-22.6%	22.1M YoY+55.4%	14.2M YoY+197.8%	4.78M YoY+9.9%	4.35M YoY+2965.5%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	23.3B YoY-33.3%	34.9B YoY+66.1%	21.0B YoY+41.6%	14.8B YoY-28.9%	20.9B
P/E	294.9× YoY-7.3%	318.1× YoY-42.6%	554.2×	—	—
P/S	8.1× YoY-46.7%	15.2× YoY+18.2%	12.9× YoY+9.5%	11.7× YoY-53.6%	25.3×
P/B	10.5× YoY-35.7%	16.4× YoY+20.3%	13.6× YoY+52.0%	9.0× YoY-28.6%	12.5×
P/FCF	19.4× YoY-47.9%	37.3× YoY+52.4%	24.4× YoY-7.3%	26.4× YoY-65.0%	75.5×
	0.34% YoY+7.9%	0.31% YoY+74.2%	0.18%	—	—
	5.2% YoY+92.1%	2.7% YoY-34.4%	4.1% YoY+7.9%	3.8% YoY+186.0%	1.3%
	5.7% YoY+95.8%	2.9% YoY-20.8%	3.7% YoY-9.0%	4.1% YoY+365.3%	0.87%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: OWL's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all OWL filings on SEC EDGAR → Not investment advice.