OWL
Blue Owl Capital Inc.15.83
+0.24+1.54%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A debunks software AI fears
Q&A robustly defended the tech lending portfolio against AI-software disruption fears, with Marc declaring "no red flags, largely green flags"—Q4 revenue up 10%, mid-teens EBITDA growth, 40%/50% cumulative since ChatGPT, first-lien at 30% LTV, and just 8% of total AUM—needing massive equity wipeouts for losses. Management justified fulfilling elevated non-traded BDC tenders via low leverage and liquidity, fostering client loyalty for flow rebounds. Alternative credit now claims 30% of credit AUM, with interval fund inflows topping $100M monthly post-acquisition. Alan conceded lag on Investor Day goals from headwinds but targets modest 2026 FRE/share growth, accelerating in 2027. Performance facts overpower headlines.
Key Stats
Market Cap
24.75BP/E (TTM)
197.88Basic EPS (TTM)
0.08Dividend Yield
0.05%Recent Filings
10-K
FY2025 results
Blue Owl Capital closed FY2025 with AUM at $307.4B, up from $251.1B, driven by $42B new capital raised yet Q4 fundraising hit $17.3B amid record private wealth flows. FPAUM reached $187.7B, fueling 25% management fee growth to $2.5B; FRE jumped 19% to $1.5B while DE rose 16% to $1.3B. Q4 accelerated Real Assets fundraising with $1.7B digital infrastructure first close post-IPI deal, but Credit saw elevated non-traded BDC redemptions met in full. Debt stood at $2.6B with $1.6B revolver capacity; $54M share repurchases executed. Intense competition pressures fundraising momentum.
8-K
AUM tops $307B
Blue Owl Capital reported Q4 2025 results on February 5, 2026, with AUM hitting $307.4B, up 22% year-over-year, fueled by $17.3B in new commitments. Fee-related earnings rose 22% to $416.6M; they declared a $0.225/share dividend, payable March 2. Growth accelerates across platforms. Risks include acquisition integration costs.
8-K
Digital infra fund closes $1.7B
Blue Owl's digital infrastructure evergreen vehicle hit first close of $1.7 billion on December 1, 2025, kicking off operations. Aggregate capital across evergreen non-traded products from October 1 to December 1 reached an estimated $4.3 billion—$1.7 billion from Credit, $2.6 billion from Real Assets—topping Q3 2025's $3.4 billion. Figures remain preliminary.
8-K
Over $200M shares bought
Blue Owl Capital disclosed over $200 million in share purchases across OWL, OBDC, and OTF in November through December 2, 2025—$70 million for OWL ($15 million by executives/employees, $50 million via repurchase plan) and $135 million for OBDC/OTF. Executives bought $35 million total. Alignment strengthens. Repurchase authorizations remain: $150 million OWL, $400 million combined OBDC/OTF.
10-Q
Q3 FY2025 results
Blue Owl Capital pushed AUM to $295.6B and FPAUM to $183.8B as of Q3 ended September 30, 2025, fueled by $14.4B new capital raised that quarter and fundraising/deployment across Credit, Real Assets, and GP Strategic Capital. Management fees jumped 23% y/y to $645.7M, with FRE up 15% y/y to $376.2M on stronger direct lending and digital infrastructure post-IPI Acquisition (closed Jan 3, 2025); yet GAAP net income to Class A shares dipped to $6.3M from $29.8M, hit by higher comp, intangibles amortization, and earnout marks. Cash sat at $137.3M with $1.6B revolver availability; total debt included $2.51B fixed-rate notes and $770M variable revolver (later cut by $430M). Fee-related earnings grow steadily. Macro volatility tests fundraising durability.
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