Blue Owl Capital Inc. (OWL) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 102.81M | 382.85M | 433.09M | 422.51M | 17.59M | 324.02M | 326M | 302.29M | 47.25M | 308.35M | 281.7M | 238.09M | 121.01M | 276.05M | 206.9M | 152.29M | 93.2M | 154.29M | 109.05M | 17.73M |
| Operating CF Margin % | 13.64% | 50.67% | 59.49% | 60.09% | 2.57% | 51.32% | 54.25% | 54.98% | 9.2% | 62.41% | 65.57% | 57.1% | 30.95% | 69.8% | 55.77% | 46.54% | 33.77% | 53.48% | 43.99% | 9.89% |
| Operating CF Growth % | 484.6% | 18.16% | 32.85% | 39.77% | -62.78% | 5.08% | 15.72% | 26.97% | -60.96% | 11.7% | 36.15% | 56.34% | 29.83% | 78.92% | 89.73% | 758.79% | 15778.02% | 577.09% | - | - |
| Net Income | 15.54M | 47.67M | 47.37M | 70.7M | 36.67M | 71.06M | 99.32M | 138.05M | 112.01M | 81.19M | 63.51M | 34.04M | 42.03M | 1.75M | -10.01M | -1.13M | -22.92M | -13.41M | -240.85M | -1.59B |
| Depreciation & Amortization | 90.92M | 0 | 98.47M | 95.59M | 95.03M | 81.61M | 73.62M | 60.69M | 59M | 59.63M | 59.63M | 118.5M | 72.81M | 66.27M | 66.07M | 66.57M | 61.74M | 46.57M | 46.38M | 21.47M |
| Stock-Based Compensation | 195.52M | 161.71M | 173.09M | 169.05M | 169.68M | 109.32M | 77.61M | 59.97M | 65.71M | 93.49M | 74.97M | 70.83M | 73.28M | 111.47M | 108.08M | 0 | 96.6M | 31.02M | 15.72M | 1.16B |
| Deferred Taxes | 11.19M | 0 | 6.45M | 6.45M | 6.17M | -4.44M | 1.98M | 14.02M | 8.11M | 6.9M | 5.22M | -9.85M | 3.58M | -2.02M | -14.93M | 4.02M | 1.79M | -58.17M | -9.88M | -28.04M |
| Other Non-Cash Items | -210.37M | 165.18M | 30.13M | -21.37M | 1.67M | 31.95M | 21.06M | 1.36M | 22.52M | 17.89M | 12.52M | 4.98M | 1.34M | 21.53M | 8.44M | 76.12M | -14.79M | 87.29M | 322.53M | 493.49M |
| Working Capital Changes | 0 | 8.3M | 77.57M | 102.08M | -291.63M | 34.53M | 52.41M | 28.2M | -220.11M | 49.25M | 65.85M | 19.59M | -72.04M | 77.05M | 49.25M | 6.71M | -29.22M | 60.99M | -24.86M | -40.45M |
| Change in Receivables | 0 | -36.71M | -35M | 42.6M | -73.94M | -23.21M | -85.02M | -50.03M | -16.82M | -20.86M | -9.63M | -36.55M | 58.3M | 10.14M | -86.19M | -64.97M | 12.99M | -27.17M | -36.82M | -33.83M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 14.06M | -21.21M | 39.11M | -34.48M | 19.38M | -30.57M | 38.2M | 4.99M | -2.54M | -5.11M | 2.62M | -22.62M | 29.8M | -20.65M | 56.76M | 0 | 17.61M | -14.64M | 23.01M | -45.6M |
| Cash from Investing | -27.1M | 11.65M | -21.47M | -65.18M | -197.02M | -46.28M | -441.84M | -134.69M | -15.33M | -23.92M | -37.21M | -22.54M | -34.36M | -139.34M | -170.76M | -143.92M | -22.61M | -324.76M | -296.67M | -977.14M |
| Capital Expenditures | -13.82M | -23.73M | -10.63M | -10.04M | -13.34M | -13.92M | -11.24M | -32.89M | -6.14M | -33.53M | -18.52M | -10.18M | -5.67M | -23.9M | -13.8M | -9.46M | -18.38M | -3.22M | -1.51M | -238K |
| CapEx % of Revenue | 1.83% | 3.14% | 1.46% | 1.43% | 1.95% | 2.2% | 1.87% | 5.98% | 1.2% | 6.79% | 4.31% | 2.44% | 1.45% | 6.04% | 3.72% | 2.89% | 6.66% | 1.12% | 0.61% | 0.13% |
| Acquisitions | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Investments | 0 | 425.54M | 458.44M | 430.79M | 411.49M | 432.76M | 442.54M | 417.09M | 143.74M | 130.09M | 119.59M | 103.08M | 90.4M | 63.08M | 201.21M | 44.84M | 16.37M | 9.83M | 300.65M | 0 |
| Other Investing | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -973.46M |
| Cash from Financing | -79.76M | -337.27M | -391.96M | -337.33M | 124.97M | -241.55M | -205M | 113.39M | 19.68M | -256.96M | -209.11M | -212.14M | -116.81M | -108.17M | -45.33M | -145.59M | 72.79M | 74.17M | -109.54M | 1.39B |
| Debt Issued (Net) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Equity Issued (Net) | 0 | -52M | -22.45M | -1.69M | -53.39M | 0 | -16.83M | -625K | -17.43M | -4.26M | 0 | 0 | 0 | -44.82M | -9.73M | 0 | -24.24M | 0 | 0 | 0 |
| Dividends Paid | -9.77M | -149.41M | -146.47M | -140.77M | -110.01M | -108.22M | -101.22M | -93.7M | -65.19M | -63.82M | -63.71M | -62.44M | -57.92M | -52.64M | -48.63M | -40.77M | -40.51M | -33.98M | 38.04M | -51.14M |
| Share Repurchases | 0 | -52M | -22.45M | -1.69M | -53.39M | 0 | -16.83M | -625K | -17.43M | -4.26M | 0 | 0 | 0 | -44.82M | -9.73M | 0 | -24.24M | 0 | 0 | 0 |
| Other Financing | -69.99M | -225.5M | -213.04M | -244.87M | -311.63M | -173.33M | -176.95M | -197.29M | -287.69M | -123.89M | -135.4M | -139.51M | -198.89M | -108.71M | -98.97M | -101.14M | -104.53M | -386.02M | -147.58M | 1.12B |
| Net Change in Cash | -4.05M | 57.24M | 19.66M | 20M | -54.47M | 36.19M | -320.85M | 280.99M | 51.6M | 27.46M | 35.37M | 3.41M | -30.17M | 28.55M | -9.2M | -137.22M | 143.38M | -96.31M | -297.16M | 427.47M |
| Free Cash Flow | 88.98M | 359.12M | 422.46M | 412.46M | 4.25M | 310.1M | 314.76M | 269.4M | 41.11M | 274.82M | 263.18M | 227.9M | 115.34M | 252.15M | 193.1M | 142.83M | 74.83M | 151.07M | 107.54M | 17.5M |
| FCF Margin % | 11.8% | 47.53% | 58.03% | 58.66% | 0.62% | 49.12% | 52.38% | 49% | 8.01% | 55.63% | 61.26% | 54.66% | 29.5% | 63.75% | 52.05% | 43.65% | 27.11% | 52.36% | 43.38% | 9.76% |
| FCF Growth % | 1995.69% | 15.81% | 34.22% | 53.1% | -89.67% | 12.84% | 19.6% | 18.21% | -64.36% | 8.99% | 36.29% | 59.56% | 54.14% | 66.91% | 79.56% | 716.4% | 25525% | 572.53% | - | - |
| FCF per Share | 0.13 | 0.54 | 0.63 | 0.63 | 0.01 | 0.56 | 0.57 | 0.50 | 0.08 | 0.56 | 0.56 | 0.50 | 0.25 | 0.54 | 0.44 | 0.34 | 0.18 | 0.37 | 0.32 | 0.05 |
| FCF Conversion (FCF/Net Income) | 6.61x | 8.03x | 68.64x | 24.25x | 2.37x | 15.62x | 10.94x | 8.91x | 1.88x | 17.08x | 18.64x | 18.52x | 14.55x | 173.40x | 100.44x | -135.25x | -7.89x | 1881.56x | -2.05x | -0.05x |
| Interest Paid | 0 | 62.62M | 18.94M | 60.54M | 13.29M | 51.75M | 9.89M | 28.52M | 11.02M | 24.11M | 12.35M | 23.88M | 11.25M | 19.61M | 9.29M | 18.61M | 215K | 11.19M | 155K | 7.99M |
| Taxes Paid | 0 | 3.83M | 3.31M | 4.79M | 5.21M | 3.87M | 4.87M | 8.32M | 5.08M | 367K | 4.63M | 7.42M | 1.83M | 164K | 2.74M | 1.77M | 113K | -2K | 3.88M | 240K |