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Blue Owl Capital (OBDC) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Blue Owl Capital
NYSE•Financial Services•Asset Management
$11.08+0.02(<0.01%)Market closed
Market Cap
$5.49B
P/E
19.0x
P/S
3.2x
P/B
0.8x

Blue Owl Capital Corporation is a Private Debt, business development company That specializes in direct and fund of fund investments. The fund makes investments in senior secured, direct lending or unsecured loans, subordinated loans or mezzanine loans and also considers equity-related securities including warrants and preferred stocks also pursues preferred equity investments, first lien, unitranche, and second lien term loans and common equity investments. Within private equity, it seeks to invest in growth, acquisitions, market or product expansion, refinancings and recapitalizations. It seeks to invest in middle market and upper middle market companies based in the United States, with EBITDA between $10 million and $250 million annually and/or annual revenue of $50 million and $2500 million at the time of investment. It seeks to invest in investments with maturities typically between three and ten years. It seeks to make investments generally ranging in size between $20 million and $250 million.

C

How this company scores

AverageMetricSide Score: 49/100

Strongest: Cash & Earnings Quality (23/25); weakest: Growth (4/25).

Profitability13/25
Growth4/25
Balance Sheet & Red Flags9/25
Cash & Earnings Quality23/25
Strengths
Rising free cash flowStrong marginsCash-backed earningsImproving margins

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 19.0x5y range 5.8x – 19.0x
P/E 19.0x · above its 12-quarter median

Currently above its 12-quarter median.

P/S · 3.2x5y range 2.3x – 4.4x
P/S 3.2x · near its 12-quarter median

Currently near its 12-quarter median.

P/B · 0.8x5y range 0.7x – 1.0x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Watch

Operating margins declined 6.3% — watch for continued compression, which may signal competitive or cost pressure.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.

Price & Volume
Market Cap $5.49B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue
$1.70B
2Q
Q. Revenue
$401.34M
17%
TTM EBITDA
$726.82M
2Q
TTM Op. Income
$726.82M
2Q
Q. Op. Income
$176.88M
19%
TTM Net Income
$288.62M
4Q
Q. Net Income
$65.74M
52%
EPS
$0.13
52%
Shares Out.
$495.38M
3Q
$1.70B in TTM revenue declined 3.0% YoY, reaching $401.34M last quarter. TTM EBITDA of $726.82M and TTM operating income of $726.82M show growth is flowing through to the bottom line. TTM net income of $288.62M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has fallen for 2 consecutive quarters — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin
44.1%
2%
Op. Margin
44.1%
2%
Net Margin
16.4%
42%
Op. margin of 44.1% is down 1.0% YoY — costs are rising relative to revenue. Net margin at 16.4% Over the past year, operating margin is down 2% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio
19.0x
3Q
P/S Ratio
3.2x
23%
P/B Ratio
0.8x
18%
At 19.0x P/E, the stock trades within typical market levels. P/S of 3.2x and P/B of 0.8x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has risen for 3 consecutive quarters — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets
$15.35B
3Q
Cash
$238.05M
2Q
Long-Term Debt
$7.90B
3Q
Book Value
$7.03B
5Q
D/E Ratio
1.1
2Q
Debt/EBITDA
44.7
6%
With $15.35B in assets and $7.90B in long-term debt, D/E is 1.1and book value is $7.03B — moderate leverage. Across the last 8 quarters, debt/equity has fallen for 2 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow
$547.31M
46%
TTM Free Cash Flow
$2.21B
48%
FCF Margin
129.9%
52%
FCF / Net Income
7.6
3Q
TTM FCF of $2.21B on $547.31M in operating cash flow. The FCF / Net Income ratio of 7.6x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 48% — a weakening trend.

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P/B 0.8x
· near its 15-quarter median

Currently near its 15-quarter median.

Cash Burn

Watch

FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.

Share Dilution

Red Flag

Shares outstanding increased 26.9% — significant dilution, likely from stock compensation or capital raises.