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Business development company providing direct loans to private technology and software companies, managed by Blue Owl Capital.
Business development company providing direct loans to private technology and software companies, managed by Blue Owl Capital.
Lends mainly floating-rate secured loans to software and technology companies owned by private-equity sponsors, so income is interest and fees, passed on to shareholders because a business development company (BDC, a regulated lender) must pay out most of what it earns. An outside manager, Blue Owl, picks the loans for a management fee.
Moat: narrow (scale, brand). Blue Owl's scale and sponsor relationships give access to a large deal pipeline of tech-focused direct loans.
Headquarters: New York, US · Founded: 2021 · Employees: 0
Size Blue Owl Technology Finance (OTF) is a United States Financials company (Finance/Rental/Leasing) with a market value of $4.36B, the 1291st largest of 3,117 United States companies the cockpit tracks. Shares closed at $9.51 on 6 Nov 2026.
Performance Over six months the shares fell 12.9%, against -10.4% 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 94.7% over the last twelve months (peer median +8.9%); the operating margin is 52.1% (peer median 29.2%).
Valuation It trades at 0.58× book value against a peer median of 1.67× (2nd cheapest of 20).
Price implies The share price implies a return on equity of about 4.9%; Blue Owl Technology Finance delivers 4.8%, so the price asks more than the business earns today.
Short interest Short interest is 1.4% 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 | $1.46B | $1.20B | $580M | $692M | $536M |
| Revenue growth | — | +107% | -16% | +29% | — |
| Gross profit | $1.14B | $919M | $488M | $593M | $472M |
| EBITDA | $759M | $1.03B | $514M | $563M | $155M |
| Net income | $375M | $720M | $319M | $369M | $19.0M |
| Free cash flow | $376M | $924M | $222M | $223M | $112M |
| Capital expenditure | $0 | $0 | $0 | $0 | $0 |
| Total debt | $7.16B | $6.29B | $2.91B | $2.95B | $3.16B |
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 | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Blue Owl Technology Finance OTF | $4.36B | -13% | +95% | 5% | 0.58× | 4.9% |
| Ares Capital ARCC | $13.8B | +1% | -8% | 6% | 0.99× | 8.1% |
| Hercules Capital HTGC | $3.06B | 0% | +40% | 16% | 1.32× | 10.4% |
| Golub Capital BDC GBDC | $3.31B | -3% | -9% | 4% | 0.89× | 6.7% |
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 | OTF | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.3% | -1.6% | 9th highest of 21 |
| 6-month return | -12.9% | -10.4% | 9th lowest of 21 |
| Return on equity | 4.8% | 14.3% | 2nd lowest of 20 |
| Price / book | 0.58× | 1.67× | 2nd cheapest of 20 |
| Trailing P/E | 11.8× | 13.3× | 9th cheapest of 19 |
| ROE the price implies | 4.9% | 26.5% | 2nd least demanding of 20 |
| ROE delivered | 4.8% | 14.3% | 2nd lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Blue Owl Technology Finance OTF | United States | $4.36B | -13% | +95% | 5% | 0.58× | 4.9% | 4.8% |
| ACOM 8572.T | Japan | $4.38B | -12% | +7% | 9% | 0.96× | 5.6% | 9.3% |
| Poonawalla Fincorp POONAWALLA.NS | India | $4.42B | +4% | +77% | 9% | 3.02× | 47.4% | 9.2% |
| Bohai Leasing 000415.SZ | China | $4.44B | +2% | -7% | 18% | 0.90× | 6.3% | 17.8% |
| Enova International ENVA | United States | $4.22B | -1% | +20% | 27% | 2.72× | 26.6% | 26.8% |
| Avis Budget CAR | United States | $4.20B | -18% | -1% | n/a | n/a | n/a | n/a |
| Mahindra & Mahindra Financial Services M&MFIN.NS | India | $4.12B | -15% | +15% | 14% | 1.41× | 23.7% | 13.8% |
| Nelnet NNI | United States | $4.67B | +7% | -7% | 8% | 1.24× | 10.1% | 8.1% |
| HDB Financial Services HDBFS.NS | India | $4.71B | -24% | +11% | 14% | 2.01× | 30.2% | 14.3% |
| GMO Payment Gateway 3769.T | Japan | $3.98B | +6% | +13% | 22% | 5.02× | 32.4% | 21.5% |
| Bread Financial BFH | United States | $3.87B | +17% | +2% | 16% | 1.13× | 12.2% | 15.9% |
| Sundaram Finance SUNDARMFIN.NS | India | $4.95B | -11% | +14% | 14% | 2.89× | 35.3% | 14.4% |
| Herc HRI | United States | $5.08B | +14% | +19% | 6% | 2.56× | 33.3% | 6.3% |
| Figure Technology Solutions FIGR | United States | $5.10B | -40% | +66% | 26% | 3.58× | 26.5% | 26.2% |
| Sixt SIX2.DE | Germany | $3.67B | +4% | +7% | 15% | 1.67× | 15.8% | 15.0% |
| Credit Saison 8253.T | Japan | $3.62B | -10% | +10% | 9% | 0.73× | 6.3% | 9.2% |
| Credit Acceptance CACC | United States | $5.37B | -1% | +2% | 23% | 3.86× | 38.2% | 22.7% |
| Far East Horizon 3360.HK | Hong Kong | $3.44B | -25% | +1% | 8% | 0.45× | 4.5% | 7.6% |
| WillScot WSC | United States | $3.42B | -33% | -3% | -7% | 3.75× | 35.8% | -7.1% |
| PennyMac Financial Services PFSI | United States | $3.41B | -28% | +4% | 6% | 0.78× | 10.2% | 5.6% |
| Housing & Urban Development HUDCO.NS | India | $3.39B | -30% | +22% | 22% | 1.39× | 31.5% | 21.7% |