Blue Owl Capital Corporation (OBDC) Income Statement
OBDC 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsOBDC revenue and net income
Where OBDC's revenue goes
2025Each bar shows an amount and its share of revenue. OBDC kept 37.4% of revenue as net income.
OBDC profit margins
OBDC growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +52.6% | +27.6% | +30.8% | — |
| Gross profit | +90.0% | +33.2% | +33.1% | — |
| Operating income | +102.5% | +37.2% | +25.6% | — |
| Net income | +5.5% | +10.4% | +10.1% | — |
| EPS (diluted) | −18.0% | +3.2% | +3.1% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
OBDC quarterly EPS vs estimates
Blue Owl Capital beat the analyst EPS estimate in 4 of the last 8 quarters. Next report: November 4, 2026 (estimate $0.32).
OBDC income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.68B | $1.10B | $1.27B | $808.8M | $882.3M | $438.9M | $456.7M | $222.0M | $116.8M | $24.9M |
| Cost of revenue | $414.4M | $434.9M | $410.6M | $273.1M | $192.7M | $136.4M | $61.7M | $52.1M | $31.1M | $9.2M |
| Gross profit | $1.26B | $665.8M | $864.3M | $535.6M | $689.7M | $302.5M | $456.7M | $222.0M | $116.8M | $24.9M |
| Research & development | — | — | $1 | $0 | $1 | $1 | $1 | $1 | $1 | $1 |
| Sales, general & admin | $27.1M | $29.7M | $27.9M | $25.1M | $25.7M | $23.4M | $19.0M | $13.3M | $10.3M | $6.2M |
| Total operating expenses | $35.1M | $58.4M | $53.7M | $59.5M | $52.2M | −$90.9M | −$43.2M | $18.7M | $12.9M | $6.6M |
| Operating income | $1.23B | $607.3M | $810.7M | $476.1M | $637.5M | $393.4M | $625.3M | $274.8M | $125.9M | $19.3M |
| Interest income | $1.60B | $1.38B | $1.40B | $1.05B | $946.5M | $769.0M | $691.9M | — | — | — |
| Interest expense | $595.8M | $434.9M | $410.6M | $273.1M | $192.7M | $136.4M | $125.3M | $71.4M | $22.0M | $2.3M |
| Income before taxes | $642.5M | $607.3M | $810.7M | $476.1M | $637.5M | $393.4M | $500.0M | $203.3M | $103.9M | $17.0M |
| Income taxes | $15.1M | $12.4M | $17.4M | $9.8M | $12.6M | $5.7M | $2.0M | $1.1M | $158,000 | $352,000 |
| Net income | $627.4M | $595.0M | $793.3M | $466.4M | $624.9M | $387.7M | $498.0M | $202.2M | $103.7M | $16.6M |
| EBITDA | $1.28B | $607.3M | $810.7M | $476.1M | $663.3M | $410.6M | $625.3M | $274.8M | $125.9M | $19.3M |
| EPS (diluted) | $1.55 | $1.89 | $1.93 | $1.41 | $1.24 | $1.33 | $1.56 | $1.47 | $0.44 | $0.06 |
| Gross margin | 75.3% | 60.5% | 67.8% | 66.2% | 78.2% | 68.9% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating margin | 73.2% | 55.2% | 63.6% | 58.9% | 72.3% | 89.6% | 136.9% | 123.8% | 107.8% | 77.8% |
| Net margin | 37.4% | 54.1% | 62.2% | 57.7% | 70.8% | 88.3% | 109.0% | 91.1% | 88.8% | 66.9% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $401.3M | $311.9M | $407.9M | $291.8M | $298.6M | $404.4M | $276.4M | $269.2M | $241.7M | $313.3M | $311.6M | $329.3M |
| Cost of revenue | $123.0M | $93.1M | $102.0M | $140.2M | $139.8M | $141.4M | $107.5M | $116.5M | $101.2M | $109.6M | $106.2M | $103.9M |
| Gross profit | $278.4M | $218.8M | $305.9M | $151.6M | $158.8M | $263.0M | $168.9M | $152.6M | $140.5M | $203.7M | $205.4M | $225.4M |
| Sales, general & admin | $7.5M | $7.3M | $4.2M | $8.0M | $7.0M | $7.9M | $6.2M | $8.1M | $8.0M | $6.4M | $6.1M | $7.7M |
| Total operating expenses | $101.5M | $106.4M | $40.0M | $18.8M | $18.8M | $15.1M | $14.1M | $12.5M | $15.9M | $16.0M | $11.8M | $14.2M |
| Operating income | $176.9M | $112.4M | $265.9M | $132.8M | $140.0M | $247.9M | $154.8M | $140.1M | $124.6M | $187.8M | $193.6M | $211.2M |
| Interest income | $314.8M | $331.8M | $383.6M | $388.8M | $425.3M | $402.5M | $338.5M | $353.8M | $339.5M | $343.9M | $363.5M | $355.1M |
| Interest expense | $123.0M | $133.9M | $144.6M | $140.2M | $139.8M | $141.4M | $107.5M | $116.5M | $101.2M | $109.6M | $106.2M | $103.9M |
| Income before taxes | $176.9M | −$22.6M | $121.8M | $132.8M | $140.0M | $247.9M | $154.8M | $140.1M | $124.6M | $187.8M | $193.6M | $211.2M |
| Income taxes | $111.1M | $1.7M | $2.7M | $4.6M | $2.5M | $5.3M | −$42,000 | $4.7M | $2.4M | $5.2M | $4.7M | $4.3M |
| Net income | $65.7M | −$24.4M | $119.1M | $128.2M | $137.5M | $242.6M | $154.9M | $135.4M | $122.2M | $182.5M | $189.0M | $206.9M |
| EBITDA | $299.9M | $111.3M | $274.8M | $132.8M | $140.0M | $247.9M | $154.8M | $140.1M | $124.6M | $187.8M | $193.6M | $211.2M |
| EPS (diluted) | $0.34 | $0.32 | $0.36 | $0.36 | $0.42 | $0.41 | $0.47 | $0.47 | $0.48 | $0.47 | $0.51 | $0.49 |
| Gross margin | 69.4% | 70.1% | 75.0% | 52.0% | 53.2% | 65.0% | 61.1% | 56.7% | 58.1% | 65.0% | 65.9% | 68.4% |
| Operating margin | 44.1% | 36.0% | 65.2% | 45.5% | 46.9% | 61.3% | 56.0% | 52.0% | 51.6% | 59.9% | 62.1% | 64.1% |
| Net margin | 16.4% | −7.8% | 29.2% | 43.9% | 46.0% | 60.0% | 56.0% | 50.3% | 50.6% | 58.3% | 60.6% | 62.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in OBDC's financial statements (latest annual report filed February 18, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
OBDC financial results
In fiscal year 2025 (ended December 31, 2025), Blue Owl Capital reported revenue of $1.7 billion, up 52.6% from the year before. It had net income of $627.4 million (up 5.5%), a net profit margin of 37.4%. Diluted earnings per share came to $1.55. Over five years revenue grew at an average rate of 30.8% a year.
See the OBDC stock overview for the latest quote and news, or the OBDC chart for price history and technical indicators.
OBDC income statement FAQ
What is Blue Owl Capital's annual revenue?
Blue Owl Capital reported total revenue of $1.7 billion for fiscal year 2025, which ended on December 31, 2025. That was up 52.6% from $1.1 billion the previous year.
Is Blue Owl Capital profitable?
Yes. Blue Owl Capital reported net income of $627.4 million in fiscal 2025, a net profit margin of 37.4%; its operating margin was 73.2%.
What is Blue Owl Capital's gross margin?
Blue Owl Capital's gross margin was 75.3% in fiscal 2025: for every $100 of revenue, Blue Owl Capital kept $75 after the direct cost of its products and services.
How fast is Blue Owl Capital growing?
Revenue grew 30.8% a year on average over the last five fiscal years, from $438.9 million to $1.7 billion.
What are Blue Owl Capital's earnings per share?
Blue Owl Capital earned $1.55 per diluted share in fiscal 2025, compared with $1.89 a year earlier.
When will Blue Owl Capital report its next earnings?
Blue Owl Capital is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 after the market closes.
When does Blue Owl Capital's fiscal year end?
Blue Owl Capital's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 18, 2026.