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Blue Owl Capital OWL TRA liability

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Other financials

Income statement

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Revenue$753.8M+10.3%
Net income$15.5M+109%
EPS (diluted)$0.02

Balance sheet

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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

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Operating cash flow$102.8M+485%
CapEx$13.8M+3.6%
Free cash flow$89.0M+1,996%

Valuation

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Market cap$17.87B+40.4%
Enterprise value$22.03B+35.6%
P/E205.5×+36.8×
P/S6.1×+1.2×

Profitability

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Net margin3%-0.8pp
FCF margin43.6%+7.2pp

Returns & leverage

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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 source filing: Blue Owl Capital’s 10-Q, filed May 1, 2026.

Filed
May 1, 2026, 4:39 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001823945-26-000026
Line itemMarch 31,2026December 31,2025
Debt obligations, net$3,825,829$3,324,426
Accrued compensation289,625525,550
Operating lease liabilities530,689538,147
TRA liability (includes $95,748 and $106,793 at fair value, respectively)1,612,6091,658,999
Earnout liability, at fair value147,600163,700
Deferred tax liabilities40,10639,663
Accounts payable, accrued expenses and other liabilities180,659163,000
Total Liabilities6,627,1176,413,485

Item 6. Exhibits

FAQ

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.

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