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Blue Owl Capital OWL Alternative credit — Revenue

Other product segments

Direct lending
$337.47M+12.8%
GP minority stakes
$150.34M+1.3%
Net lease
$65.38M+39.6%
Administrative, transaction and other fees
$56.64M+9.7%
Digital infrastructure
$34.81M-33.4%
Investment grade credit
$17.8M+6.7%
Other
$16.06M+61.7%
Real estate credit
$11.94M+15.0%
Strategic Revenue-Share Purchase consideration amortization
-$11.04M+0.6%
Amortization of deferred incentives paid to customers
-$9.81M
Fee offsets
-$7.36M
Performance revenues
$6.07M-3.9%
GP debt financing
$4.8M+101%
Liquid credit
$4.75M-36.5%
Professional sports minority stakes
$1.17M+81.2%

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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$7.81B-38.6%
Enterprise value$11.97B-26.3%
P/E89.8×-79.0×
P/S2.7×-2.2×

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 us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

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
(dollars in thousands)Three Months Ended March 31, 20262025
Credit Platform
Direct lending$337,468$299,089
Alternative credit30,37021,185
Investment grade credit17,80316,687
Liquid credit4,7527,480
Other16,0629,933
Management Fees406,455354,374
Administrative, transaction and other fees56,63651,610

Item 6. Exhibits

FAQ

What is Blue Owl Capital's alternative credit — revenue?
Blue Owl Capital (OWL) reported alternative credit — revenue of $30.37M in Q1 2026.
How has Blue Owl Capital's alternative credit — revenue changed year-over-year?
Blue Owl Capital's alternative credit — revenue increased by 43.4% year-over-year, from $21.19M to $30.37M.
What does alternative credit — revenue mean?
This metric represents the total revenue generated by the firm's alternative credit investment platform, which focuses on providing direct lending and credit solutions to middle-market companies. It reflects the scale and growth of the firm's credit-focused assets under management and the associated management and performance fees earned from these strategies. This revenue stream is a key indicator of the firm's ability to capture market share within the private credit sector and deliver yield-oriented products to institutional and private wealth clients.

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