What is Blue Owl Capital's TRA liability?

Blue Owl Capital (OWL) reported TRA liability of $95.75M in Q1 2026.

How has Blue Owl Capital's TRA liability changed year-over-year?

Blue Owl Capital's TRA liability decreased by 1.5% year-over-year, from $97.23M to $95.75M.

What does TRA liability mean?

The fair value of obligations arising from Tax Receivable Agreements, which represent payments due to pre-IPO owners for tax benefits realized by the company. This liability reflects the long-term financial impact of the firm's tax structure on future cash flows.

Blue Owl Capital OWL TRA liability

TRA liability at other companies

Nextpower Inc. NXT

$372.66M-5.6%

Clearwater AnalyticsCWAN

$0+100%

Tradeweb Markets Inc.TW

$15.17M-10.5%

Medline, Inc. MDLN

$4.02B—

Tradeweb Markets Inc.TW

$719K-76.5%

Tradeweb Markets Inc.TW

$335.8M-9.2%

Other financials

Income statement

See full

Revenue$753.8M+10.3%

Net income$15.5M+109%

EPS (diluted)$0.02—

Balance sheet

See full

Cash & equivalents$190.5M+95.1%

Total debt$4.4B+21.0%

Total equity$2.1B-10.1%

Total assets$12.4B+1.0%

Cash flow

See full

Operating cash flow$102.8M+485%

CapEx$13.8M+3.6%

Free cash flow$89.0M+1,996%

Valuation

See full

Market cap$6.44B-50.4%

Enterprise value$10.61B-35.0%

P/E74.1×-67.1×

P/S2.2×-3.1×

Profitability

See full

Net margin3%-0.8pp

FCF margin43.6%+7.2pp

Returns & leverage

See full

Return on equity3.9%-0.7pp

Debt / equity2.1×+0.5×

Current ratio11.8×—

Where this comes from

Reported directly by Blue Owl Capital in its filing.

Tagged under the XBRL concept owl:TaxReceivableAgreementLiabilityFairValueDisclosure.

The official record: Blue Owl Capital’s 10-Q, filed May 1, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Blue Owl Capital's TRA liability?: Blue Owl Capital (OWL) reported TRA liability of $95.75M in Q1 2026.
How has Blue Owl Capital's TRA liability changed year-over-year?: Blue Owl Capital's TRA liability decreased by 1.5% year-over-year, from $97.23M to $95.75M.
What does TRA liability mean?: The fair value of obligations arising from Tax Receivable Agreements, which represent payments due to pre-IPO owners for tax benefits realized by the company. This liability reflects the long-term financial impact of the firm's tax structure on future cash flows.