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Business development company managed by Blue Owl, lending directly to US middle-market private-equity-backed companies.
Business development company managed by Blue Owl, lending directly to US middle-market private-equity-backed companies.
Earns interest on loans, mostly floating-rate and secured by the borrower's assets, to mid-sized companies owned by private-equity firms, and pays its manager a fee for sourcing and running them. As a business development company, a listed lender that must distribute most income, it passes the bulk of earnings to shareholders.
Moat: narrow (scale, brand, distribution). Blue Owl's sponsor relationships and capital scale source proprietary, larger private-credit deals.
Headquarters: New York, New York, US · Founded: 2016
Size Blue Owl Capital (OBDC) is a United States Financials company (Financial Conglomerates) with a market value of $5.39B, the 1130th largest of 3,117 United States companies the cockpit tracks. Shares closed at $10.94 on 6 Nov 2026.
Performance Over six months the shares fell 3.6%, against -0.6% for the median peer and -1.1% for the United States market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue grew 1.3% over the last twelve months (peer median +20.3%); the operating margin is 54.1% (peer median 22.6%).
Valuation It trades at 8.2× forward earnings against a peer median of 14.6× (5th cheapest of 19).
Credit Blue Owl Capital has 7 bonds outstanding ($4.35B), rated BBB- by the agencies and trading like BB- at a weighted spread of 186 bp.
Short interest Short interest is 3.9% of the free float (15 Oct 2026).
Next results Next results expected around 24 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.56B | $1.68B | $1.51B | $1.53B | $1.21B |
| Revenue growth | — | +11% | -1% | +27% | — |
| Gross profit | $1.17B | $1.26B | $1.16B | $1.18B | $900M |
| EBITDA | $844M | $1.23B | $1.08B | $1.24B | $791M |
| Net income | $289M | $627M | $595M | $793M | $466M |
| Free cash flow | $482M | $719M | $541M | $514M | $424M |
| Capital expenditure | $0 | $0 | $0 | $0 | $0 |
| Total debt | $7.90B | $9.30B | $7.46B | $7.08B | $7.28B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Blue Owl Capital OBDC | $5.39B | -4% | +1% | 54% | 8.2× | n/a |
| Ares Capital ARCC | $13.8B | +1% | -8% | 61% | 9.9× | n/a |
| Main Street Capital MAIN | $5.33B | +6% | +3% | 91% | 15.0× | n/a |
| Golub Capital BDC GBDC | $3.31B | -3% | -9% | 60% | 9.9× | n/a |
| Morgan Stanley Direct Lending Fund MSDL | $1.15B | -12% | -15% | 56% | 7.6× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | OBDC | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +7.6% | +4.0% | 5th highest of 21 |
| 6-month return | -3.6% | -0.6% | 9th lowest of 21 |
| Distance from 52-week high | -19.4% | -14.7% | 10th lowest of 21 |
| Revenue growth (TTM) | +1.3% | +20.3% | 6th lowest of 20 |
| Operating margin | 54.1% | 22.6% | 7th highest of 21 |
| Forward P/E | 8.2× | 14.6× | 5th cheapest of 19 |
| Bond spread | 186 bp | 172 bp | widest of 4 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Blue Owl Capital OBDC | United States | $5.39B | -4% | +1% | 54% | 8.2× | n/a | n/a |
| Main Street Capital MAIN | United States | $5.33B | +6% | +3% | 91% | 15.0× | n/a | n/a |
| Zegona Communications ZEG.L | United Kingdom | $5.17B | -5% | +55% | 8% | 46.4× | n/a | n/a |
| Authum Investment & Infrastucture AIIL.NS | India | $5.14B | +16% | -23% | 79% | n/a | n/a | n/a |
| Azimut AZM.MI | Italy | $5.70B | -1% | +17% | 46% | 10.6× | n/a | n/a |
| Onex ONEX.TO | Canada | $5.91B | -7% | +2% | 173% | 22.3× | n/a | n/a |
| Brookfield Business BBUC.TO | Canada | $6.15B | -9% | +106% | 13% | 5.4× | n/a | n/a |
| Wendel MF.PA | France | $4.14B | 0% | -13% | 12% | 29.9× | n/a | n/a |
| Legend 3396.HK | Hong Kong | $4.03B | +34% | +27% | 4% | 4.8× | n/a | n/a |
| BB Biotech BION.SW | Switzerland | $3.45B | +13% | +125% | 491% | 20.0× | n/a | n/a |
| Aker AKER.OL | Norway | $8.60B | -7% | -17% | 226% | 14.3× | n/a | n/a |
| Golub Capital BDC GBDC | United States | $3.31B | -3% | -9% | 60% | 9.9× | n/a | n/a |
| Roko ROKO-B.ST | Sweden | $2.97B | +14% | +20% | 18% | 25.6× | n/a | n/a |
| Kyivstar KYIV | United States | $2.96B | -4% | +26% | 36% | 9.0× | n/a | n/a |
| M&G MNG.L | United Kingdom | $10.3B | +7% | +68% | 8% | 11.3× | n/a | n/a |
| Strive ASST | United States | $2.73B | +35% | +650% | -14,416% | 4.2× | n/a | n/a |
| SBI 8473.T | Japan | $11.2B | -13% | +20% | 40% | 5.9× | n/a | n/a |
| Zhejiang Provincial New Energy Investment 600032.SS | China | $2.59B | -27% | -6% | 27% | n/a | n/a | n/a |
| BitMine Immersion Technologies BMNR | United States | $11.3B | -15% | +1,022% | -485% | 25.9× | n/a | n/a |
| Hyperliquid Strategies PURR | United States | $2.45B | +104% | n/a | -60% | 24.0× | n/a | n/a |
| Washington H. Soul Pattinson and SOL.AX | Australia | $12.5B | +12% | +143% | -9% | 28.0× | n/a | n/a |
Blue Owl Capital has 7 bonds outstanding with $4.35B face value. The agencies rate it BBB-; its bonds trade like BB-. Weighted yield 6.35%, a spread of 186 bp over government bonds.