Latest Ratios: P/E Ratio 8.7x · EV/EBITDA 11.8x · ROE 9.4%. (2016–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $5.4B | $6.3B | $5.9B | $5.8B | $4.6B | $5.6B | $4.9B | $5.8B | — | — | — |
| Enterprise Value | $14.7B | $15.6B | $12.9B | $12.3B | $11.5B | $12.2B | $9.9B | $8.5B | — | — | — |
| P/E Ratio → | 8.73 | 10.02 | 9.88 | 7.27 | 9.79 | 8.91 | 12.66 | 11.69 | — | — | — |
| P/S Ratio | 3.20 | 3.75 | 5.36 | 4.52 | 5.63 | 6.30 | 11.21 | 9.98 | — | — | — |
| P/B Ratio | 0.74 | 0.85 | 0.99 | 0.96 | 0.77 | 0.94 | 0.86 | 0.97 | — | — | — |
| P/FCF | 3.09 | 3.61 | 36.81 | 11.19 | 10.74 | — | — | 13.25 | — | — | — |
| P/OCF | 3.09 | 3.61 | 36.81 | 11.19 | 10.74 | — | — | 13.25 | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 9.28 | 11.74 | 9.62 | 14.20 | 13.84 | 22.47 | 14.67 | — | — | — |
| EV / EBITDA | 11.83 | 12.56 | 21.28 | 15.13 | 24.12 | 19.15 | 25.07 | 17.07 | — | — | — |
| EV / EBIT | 11.93 | 12.56 | 21.28 | 15.13 | 24.12 | 19.15 | 25.07 | 17.07 | — | — | — |
| EV / FCF | — | 8.95 | 80.67 | 23.84 | 27.10 | — | — | 19.48 | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 75.3% | 75.3% | 60.5% | 67.8% | 66.2% | 78.2% | 68.9% | 78.5% | 75.7% | 84.2% | 91.4% |
| Operating Margin | 73.2% | 73.2% | 55.2% | 63.6% | 58.9% | 72.3% | 89.6% | 85.9% | 69.3% | 74.9% | 62.5% |
| Net Profit Margin | 37.4% | 37.4% | 54.1% | 62.2% | 57.7% | 70.8% | 88.3% | 85.6% | 68.9% | 74.8% | 61.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.4% | 9.4% | 9.9% | 13.3% | 7.9% | 10.7% | 6.6% | 10.8% | 8.5% | 9.6% | 2.4% |
| ROA | 4.0% | 4.0% | 4.3% | 5.9% | 3.5% | 5.1% | 3.8% | 6.6% | 4.8% | 5.7% | 1.4% |
| ROIC | 6.1% | 6.1% | 3.4% | 4.6% | 2.7% | 4.0% | 2.9% | 5.1% | 3.7% | 4.4% | 1.1% |
| ROCE | 7.9% | 7.9% | 4.5% | 6.0% | 3.6% | 5.2% | 3.9% | 6.7% | 4.9% | 5.8% | — |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.26 | 1.26 | 1.25 | 1.18 | 1.24 | 1.19 | 0.92 | 0.51 | 0.79 | 0.62 | 0.72 |
| Debt / EBITDA | 7.50 | 7.50 | 12.28 | 8.73 | 15.29 | 11.10 | 13.45 | 6.08 | 12.63 | 8.85 | 28.95 |
| Net Debt / Equity | — | 1.26 | 1.18 | 1.08 | 1.18 | 1.12 | 0.86 | 0.46 | 0.75 | 0.61 | 0.42 |
| Net Debt / EBITDA | 7.49 | 7.49 | 11.57 | 8.02 | 14.56 | 10.44 | 12.57 | 5.46 | 12.03 | 8.68 | 16.63 |
| Debt / FCF | — | 5.33 | 43.85 | 12.65 | 16.36 | — | — | 6.23 | — | — | — |
| Interest Coverage | 2.08 | 2.08 | 1.40 | 1.97 | 1.74 | 3.31 | 2.88 | 3.99 | 2.85 | 4.73 | 7.25 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | — | — | 4.08 | 5.21 | 3.69 | 4.38 | 2.98 | 2.89 | 1.97 | 1.52 | — |
| Quick Ratio | — | — | 4.08 | 5.21 | 3.69 | 4.38 | 2.98 | 2.89 | 1.97 | 1.52 | — |
| Cash Ratio | — | — | 2.99 | 4.20 | 2.69 | 3.49 | 2.30 | 2.26 | 1.49 | 0.52 | — |
| Asset Turnover | — | 0.10 | 0.08 | 0.09 | 0.06 | 0.07 | 0.04 | 0.06 | 0.05 | 0.06 | 0.02 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 13.7% | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 119.9% | 119.9% | 110.2% | 77.3% | 104.7% | 69.3% | 94.9% | 44.4% | 44.5% | 27.1% | 9.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 11.4% | 10.0% | 10.1% | 13.8% | 10.2% | 11.2% | 7.9% | 8.6% | — | — | — |
| FCF Yield | 32.4% | 27.7% | 2.7% | 8.9% | 9.3% | — | — | 7.5% | — | — | — |
| Buyback Yield | 2.8% | — | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 16.5% | — | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $506M | $390M | $390M | $394M | $392M | $389M | $325M | $136M | $259M | $285M |
Regulatory leverage ceiling proximity
Based on reported figures, OBDC trades at a P/B of 0.74, which suggests that the market is pricing in significant potential for future asset write-downs compared to the broader BDC peer group, where higher-quality incumbents often command valuations closer to or above their net asset value.
The current forward P/E of 8.38 indicates that investors are skeptical of the sustainability of current earnings, likely due to the volatility inherent in the firm's Level 3 asset valuations. This valuation gap relative to peers like Ares Capital suggests that the market requires a higher risk premium for OBDC's concentrated exposure to software and technology-related credits.
According to recent financial statements, OBDC's ROIC has trended downward to 0.7% in 2026Q1, indicating that the firm is struggling to generate meaningful returns on its invested capital as credit quality concerns and potential non-accruals weigh on the underlying portfolio performance.
The compression in ROIC suggests that the firm's strategy of leading large unitranche deals may be yielding diminishing returns as the cost of capital rises and the competitive landscape for high-quality credit intensifies. Investors should monitor whether this decay in capital efficiency is a temporary cyclical phenomenon or a structural shift resulting from the firm's aggressive leverage profile.
As reported in recent SEC filings, OBDC's debt-to-equity ratio of 1.26x places the firm near its regulatory ceiling, which significantly restricts management's ability to deploy capital into new opportunities without resorting to potentially dilutive equity raises to maintain compliance with BDC leverage limits.
Operating at the upper end of the leverage range leaves the firm with minimal buffer to absorb further valuation markdowns or credit losses within its portfolio. This lack of dry powder may force the company to prioritize capital preservation over growth, potentially impacting its ability to maintain dividend distributions if net investment income remains under pressure.
Based on comparative data, OBDC's ROE of -0.3% in 2026Q1 significantly underperforms the broader peer group, highlighting a structural gap in profitability that may be attributed to the firm's specific industry concentrations and its reliance on non-cash income streams compared to more diversified competitors.
While peers like Ares Capital maintain more stable return profiles, OBDC's performance appears increasingly sensitive to the health of the software and business services sectors. The divergence in valuation multiples suggests that the market is actively discounting OBDC's shorter track record and its higher sensitivity to credit cycle volatility.
Investors frequently misapply the 13.7% dividend yield as a proxy for total return, failing to account for the fact that such high yields often mask underlying portfolio credit deterioration and the potential for future dividend cuts if net investment income fails to cover distributions.
The yield is a lagging indicator that obscures the risk of capital erosion inherent in the firm's unitranche-heavy portfolio. A more appropriate metric for assessing the sustainability of these payouts would be the 'Net Investment Income' coverage ratio, adjusted for non-cash PIK interest, which provides a clearer view of the actual cash available to support shareholder distributions.
Includes 30+ ratios · 10 years · Updated daily
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Quick answers to the most common questions about buying OBDC stock.
Blue Owl Capital Corporation's current P/E ratio is 8.7x. The historical average is 10.0x. This places it at the 14th percentile of its historical range.
Blue Owl Capital Corporation's current EV/EBITDA is 11.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 19.2x.
Blue Owl Capital Corporation's return on equity (ROE) is 9.4%. The historical average is 8.9%.
Based on historical data, Blue Owl Capital Corporation is trading at a P/E of 8.7x. This is at the 14th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Blue Owl Capital Corporation's current dividend yield is 13.73% with a payout ratio of 119.9%.
Blue Owl Capital Corporation has 75.3% gross margin and 73.2% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Blue Owl Capital Corporation's Debt/EBITDA ratio is 7.5x, indicating high leverage. A ratio above 4x may signal elevated financial risk.