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Blue Owl Capital
(NYSE:OWL)
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Rating:74Outperform
Price Target:
$13.00
â–²(10.26% Upside)
Action:Reiterated
Date:08/19/26
OWL’s score is driven primarily by strong cash-flow performance and improving profitability/leverage, reinforced by a constructive earnings-call outlook (reiterated guidance to beat consensus and a large embedded fee pipeline). Technicals are supportive with price above key moving averages and positive MACD, but valuation is a meaningful drag due to a very high P/E despite an attractive dividend yield.
Positive Factors
Embedded Fee Growth Pipeline
The sizable unfunded fee base provides visible organic growth as capital is deployed and called. It can support recurring management-fee expansion over the next several quarters without requiring equivalent new fundraising.
Negative Factors
Modest Net Profitability
Although profitability has improved from earlier loss years, substantial costs below EBITDA continue to constrain net-income conversion. This may limit the pace at which operating growth translates into strong shareholder returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Embedded Fee Growth Pipeline
The sizable unfunded fee base provides visible organic growth as capital is deployed and called. It can support recurring management-fee expansion over the next several quarters without requiring equivalent new fundraising.
Read all positive factors
Blue Owl Capital (OWL) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$18.38B
Dividend Yield7.71%
Average Volume (3M)18.67M
Price to Earnings (P/E)99.2
Beta (1Y)1.92
Revenue Growth14.13%
EPS Growth-4.48%
CountryUS
Employees1,365
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)0.12
Shares Outstanding683,908,570
10 Day Avg. Volume13,865,724
30 Day Avg. Volume18,671,864
Financial Highlights & Ratios
PEG Ratio-3.11
Price to Book (P/B)4.50
Price to Sales (P/S)3.46
P/FCF Ratio8.29
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$12.68Price Target Upside7.56% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering11
EPS Forecast (FY)0.89
Revenue Forecast (FY)$2.83B
Blue Owl Capital Business Overview & Revenue Model
Company Description
Blue Owl Capital Inc., an asset management firm based in New York City, leverages a robust and permanent capital base to deliver a comprehensive suite of financial solutions. It serves a diverse clientele, including mid-sized businesses, leading a...
How the Company Makes Money
Blue Owl primarily makes money by earning fees (and potentially performance-based compensation) for managing client capital across its investment strategies.
1) Management fees / advisory fees (recurring, AUM-based):
- The core revenue stream is ...
Blue Owl Capital Earnings Call Summary
Earnings Call Date:Jul 30, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Positive
The call emphasized broad‑based, durable growth: strong fundraising (quarter and last‑12‑month totals), notable expansion and performance in real assets and alternative credit, meaningful embedded fee pipeline ($31B not yet paying fees), and achieved FRE margin guidance. Challenges discussed were largely manageable and improving — retail/BDC redemption headlines, a still‑recovering wealth channel, and near‑term direct lending deployment that is tepid and dependent on a higher M&A backdrop. Given the weight and scale of the positive fundraising, performance, and diversification metrics versus the contained and improving lowlights, the overall tone is constructive.Positive Updates
Earnings and Dividend
Reported FRE of $0.25 per share and DE of $0.22 per share for Q2; declared a dividend of $0.23 per share payable August 27.
Negative Updates
Wealth Channel Recovery Is Incomplete
Evergreen inflows have bottomed but remain below historical levels; May 1 close bottomed and July 1 close showed >50% increase versus May 1 but overall volumes are still recovering and require time to return to prior norms.
Read all updates
Q2-2026 Updates
Positive
Negative
Earnings and Dividend
Reported FRE of $0.25 per share and DE of $0.22 per share for Q2; declared a dividend of $0.23 per share payable August 27.
Read all positive updates
Company Guidance
Blue Owl reiterated it expects to beat Visible Alpha 2026 consensus, reconfirming prior 2026 reference points of FRE per share $1.02 and DE per share $0.89 (Q2 FRE $0.25, DE $0.22; dividend $0.23 payable Aug 27), reported FRE margin of 58.5% (in line with full‑year outlook), management fees up 8% y/y (FRE and DE +9% y/y), AUM not yet paying fees at $31.0 billion (≈$380 million of annual management fees, ~15% embedded growth vs 2025), guidance that management‑fee growth should build over the next two quarters and be higher in 2027, expected 2026 equity‑based stock‑comp of ~$365 million (business‑combination grants to go to $0 in Q4), and line‑of‑sight deployment/capital‑call activity (net‑lease Fund VI 65% drawn at quarter end, ~77% drawn next month and expected virtually fully called by year‑end).Blue Owl Capital Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
68
Positive
Cash Flow
86
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.99B | 2.87B | 2.30B | 1.73B | 1.37B | 823.88M |
| Gross Profit | 1.83B | 1.59B | 1.28B | 860.97M | 475.04M | -673.11M |
| EBITDA | 956.98M | 941.12M | 866.04M | 632.65M | 269.67M | -1.73B |
| Net Income | 80.91M | 78.83M | 109.58M | 54.34M | -9.29M | -376.17M |
Balance Sheet | ||||||
| Total Assets | 12.33B | 12.47B | 10.99B | 8.82B | 8.89B | 8.27B |
| Cash, Cash Equivalents and Short-Term Investments | 169.06M | 194.51M | 152.09M | 104.16M | 68.08M | 42.57M |
| Total Debt | 4.34B | 3.86B | 2.98B | 2.00B | 1.86B | 1.26B |
| Total Liabilities | 6.72B | 6.41B | 5.19B | 3.54B | 3.34B | 2.42B |
| Stockholders Equity | 2.00B | 2.21B | 2.13B | 1.53B | 1.60B | 1.66B |
Cash Flow | ||||||
| Free Cash Flow | 1.32B | 1.20B | 935.37M | 881.24M | 662.91M | 276.40M |
| Operating Cash Flow | 1.38B | 1.26B | 999.55M | 949.14M | 728.45M | 281.66M |
| Investing Cash Flow | -90.14M | -270.57M | -638.14M | -118.03M | -485.22M | -1.60B |
| Financing Cash Flow | -1.24B | -943.04M | -313.48M | -795.03M | -217.72M | 1.35B |
Blue Owl Capital Technical Analysis
Positive
11.79
Price Trends
10.05
Positive
9.70
Positive
11.06
Positive
Market Momentum
0.50
Positive
61.11
Neutral
27.40
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For OWL, the sentiment is Positive. The current price of 11.79 is above the 20-day moving average (MA) of 11.52, above the 50-day MA of 10.05, and above the 200-day MA of 11.06, indicating a bullish trend. The MACD of 0.50 indicates Positive momentum. The RSI at 61.11 is Neutral, neither overbought nor oversold. The STOCH value of 27.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
77 Outperform | $178.09B | 31.83 | 40.87% | 3.02% | 22.60% | 20.33% | |
74 Outperform | $18.38B | 99.24 | 3.76% | 9.58% | 14.13% | -4.48% | |
72 Outperform | $96.57B | 32.29 | 10.32% | 0.75% | 31.83% | 48.98% | |
72 Outperform | $20.33B | 43.28 | 18.59% | 5.23% | 29.91% | 507.73% | |
68 Neutral | $47.15B | 62.00 | 15.20% | 3.90% | 33.64% | 22.53% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
53 Neutral | $17.43B | 48.39 | 6.07% | 3.08% | -44.06% | -71.02% |
* Financial Sector Average
OWL
Blue Owl Capital
11.80
-5.42
-31.47%
KKR
KKR & Co
108.50
-30.96
-22.20%
BX
Blackstone Group
143.20
-21.75
-13.18%
CG
Carlyle Group
48.99
-13.97
-22.19%
ARES
Ares Management
141.98
-31.14
-17.99%
TPG
TPG
52.80
-5.91
-10.06%
Blue Owl Capital Corporate Events
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Blue Owl Capital Completes $750 Million Senior Notes Offering
Positive
Aug 18, 2026
On August 18, 2026, Blue Owl Finance LLC, an indirect subsidiary of Blue Owl Capital Inc., completed a $750 million offering of unsecured, unsubordinated 6.750% senior notes due 2036, fully and unconditionally guaranteed on the same basis by multi...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Blue Owl Capital Prices $750 Million Senior Notes
Positive
Aug 12, 2026
On August 11, 2026, Blue Owl Finance LLC, an indirect subsidiary of Blue Owl Capital Inc., priced an offering of $750 million aggregate principal amount of 6.750% senior unsecured notes due 2036. The notes, structured with a 10-year maturity, will...
Business Operations and StrategyDividendsFinancial Disclosures
Blue Owl Capital Posts Strong Q2 2026 Growth
Positive
Jul 30, 2026
On July 30, 2026, Blue Owl Capital reported second-quarter 2026 results showing continued growth and strong investment performance across its diversified platforms and geographies. Co-CEOs Doug Ostrover and Marc Lipschultz highlighted that assets ...
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...
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.