What is Blue Owl Capital's fee offsets — revenue?

Blue Owl Capital (OWL) reported fee offsets — revenue of -$7.36M in Q1 2026.

What does fee offsets — revenue mean?

This metric represents the portion of management or advisory fees that are reduced or eliminated due to specific contractual arrangements, such as the reimbursement of organizational expenses or the application of placement agent fees. It serves as a contra-revenue adjustment that reflects the net economic benefit retained by the asset manager after accounting for these fee-sharing or expense-offsetting obligations. Monitoring this figure is essential for understanding the effective fee realization rate and the impact of structural fee arrangements on top-line revenue performance.

Blue Owl Capital (OWL) Fee offsets — Revenue

Screener

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%

Alternative credit

$30.37M+43.4%

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—

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%

Similar metrics at other companies

PBFSInsurance Revenues Fee — Revenue

$403K-19.2%

GELFee-based revenues — Revenue

$258.31M+16.5%

RMAXFee Revenue — Revenue

$45.29M-4.9%

BROFee Revenue — Revenue

$392M+46.3%

LQDTConsignment And Other Fee Revenues — Revenue

$47.74M+10.1%

LENManagement Fee — Revenue

$2.84M-59.0%

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$7.81B-38.6%

Enterprise value$11.97B-26.3%

P/E89.8×-79.0×

P/S2.7×-2.2×

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 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, 2026	2025
Other	16,062	9,933
Management Fees	406,455	354,374
Administrative, transaction and other fees	56,636	51,610
Fee offsets(1)	(7,356)	—
Total Management and Other Fees, Net	455,735	405,984
Performance revenues	2,115	2,956
Total GAAP Revenues - Credit Platform	457,850	408,940
Real Assets Platform

Item 6. Exhibits

FAQ

What is Blue Owl Capital's fee offsets — revenue?: Blue Owl Capital (OWL) reported fee offsets — revenue of -$7.36M in Q1 2026.
What does fee offsets — revenue mean?: This metric represents the portion of management or advisory fees that are reduced or eliminated due to specific contractual arrangements, such as the reimbursement of organizational expenses or the application of placement agent fees. It serves as a contra-revenue adjustment that reflects the net economic benefit retained by the asset manager after accounting for these fee-sharing or expense-offsetting obligations. Monitoring this figure is essential for understanding the effective fee realization rate and the impact of structural fee arrangements on top-line revenue performance.