10-K · February 19, 2026
Blue Owl reports scale and fee stability (AUM $307.4B, FPAUM $187.7B as of 12/31/2025) with material top-line growth (2025 quarterly revenues sum to ~$2.87B vs ~$2.295B in 2024) and recovered free cash flow after a weak…
Earnings analysis · 10-Q
OWL earnings analysis
Filed May 1, 2026 · Our reading of the company's report
The latest report
Blue Owl Capital Inc. reported a strong Q1 2026 performance with revenues of $753.8 million, surpassing estimates by 8.66%. The company generated diluted EPS of $0.19, slightly above the $0.18 estimate, reflecting a…
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Blue Owl Capital Inc. reported a strong Q1 2026 performance with revenues of $753.8 million, surpassing estimates by 8.66%. The company generated diluted EPS of $0.19, slightly above the $0.18 estimate, reflecting a positive surprise of 5.56%. Notable revenue growth was noted across segments, particularly in Credit and Real Assets, while management affirmed its commitment to maintaining a quarterly dividend of $0.23 amid growing assets under management, now at $314.9 billion.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.19
- Segment
- Credit
- Segment
- Real Assets
- Segment
- GP Strategic Capital
What stood out
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Revenue Surpassed Estimates
Q1 2026 revenue of $753.8 million exceeded estimates by 8.66%.
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EPS Exceeds Expectations
Diluted EPS of $0.19 surpassed the expected $0.18, reflecting a 5.56% surprise.
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Asset Under Management Growth
Assets under management increased to $314.9 billion, a 15% year-over-year growth.
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Solid Fee-Related Earnings
Fee-Related Earnings rose to $393.6 million, up from $345.4 million YoY.
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Stable Dividend Declaration
Maintained quarterly dividend at $0.23, reaffirming commitment to shareholders.
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Cash Flow Improvement
Operating cash flow surged to $102.8 million, a dramatic increase from $17.6 million YoY.
What to watch
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Increased Compensation Expenses
Compensation and benefits expenses rose by $49.9 million to $375.9 million, stressing profit margins.
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Regulatory Scrutiny
Continued compliance and regulatory costs may impact future profitability.
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Market Volatility Impact
Geopolitical tensions may negatively affect market conditions, impacting future revenues.
Management's outlook
Outlook deferred to earnings press release / call.
Earlier filings 4
10-Q · August 1, 2025
Blue Owl reported Q2 revenue of $703,106,000 (up modestly vs Q1 and strongly vs prior year) with Fee-Related Earnings of $358,343,000 and distributable earnings of $323,014,000. Free cash flow recovered to $412,000,000…
10-Q · November 6, 2024
Blue Owl reported Q3 revenue of $600,878,000 and GAAP net income attributable of $29,805,000 for the three months ended September 30, 2024; fee-related earnings were $326,862,000 and distributable earnings were…
10-Q · August 1, 2024
Blue Owl reported strong fee-driven results in Q2: Fee-Related Earnings rose to $296,475 (thousands) and Net Income attributable increased to $33,945 (thousands). AUM expanded to $192.2 billion (FPAUM $121.5 billion)…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.