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Blue Owl Capital OWL Liquid 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%
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
Fee offsets
-$7.36M
Performance revenues
$6.07M-3.9%
GP debt financing
$4.8M+101%
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

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, 20262025
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
Fee offsets(1)(7,356)

Item 6. Exhibits

FAQ

What is Blue Owl Capital's liquid credit — revenue?
Blue Owl Capital (OWL) reported liquid credit — revenue of $4.75M in Q1 2026.
How has Blue Owl Capital's liquid credit — revenue changed year-over-year?
Blue Owl Capital's liquid credit — revenue decreased by 36.5% year-over-year, from $7.48M to $4.75M.
What does liquid credit — revenue mean?
This metric represents the total revenue generated by the firm's liquid credit investment platform, which focuses on managing tradable credit assets and strategies. It reflects the income earned from management fees and related services derived from providing liquidity and credit market exposure to institutional and private wealth clients. Monitoring this revenue stream helps assess the growth and market penetration of the firm's non-private, tradable credit product offerings.

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