Latest Ratios: P/E Ratio 78.3x · EV/EBITDA 18.1x · ROE 1.3%. (2019–2025 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 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $14.7B | $9.9B | $13.0B | $7.1B | $4.6B | $6.0B | $391M | — |
| Enterprise Value | $18.3B | $13.6B | $15.8B | $9.0B | $6.4B | $7.3B | $736M | — |
| P/E Ratio → | 78.25 | 124.50 | 116.30 | 135.45 | — | — | — | — |
| P/S Ratio | 5.11 | 3.46 | 5.66 | 4.11 | 3.35 | 7.33 | 1.57 | — |
| P/B Ratio | 1.03 | 1.64 | 2.24 | 1.35 | 0.83 | 1.03 | — | — |
| P/FCF | 12.25 | 8.29 | 13.89 | 8.08 | 6.93 | 21.84 | 85.37 | — |
| P/OCF | 11.69 | 7.91 | 12.99 | 7.50 | 6.31 | 21.44 | 74.74 | — |
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 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.74 | 6.89 | 5.21 | 4.67 | 8.81 | 2.95 | — |
| EV / EBITDA | 18.08 | 13.40 | 17.94 | 14.35 | 24.89 | — | — | — |
| EV / EBIT | 29.25 | 24.57 | 26.76 | 28.00 | 611.39 | — | — | — |
| EV / FCF | — | 11.35 | 16.91 | 10.23 | 9.64 | 26.26 | 160.62 | — |
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 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 55.4% | 55.4% | 55.7% | 49.7% | 34.7% | -81.7% | 3.6% | 41.4% |
| Operating Margin | 21.9% | 21.9% | 26.4% | 18.4% | -0.2% | -112.5% | -23.5% | 14.3% |
| Net Profit Margin | 2.7% | 2.7% | 4.8% | 3.1% | -0.7% | -45.7% | -31.2% | 12.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | 1.3% | 1.3% | 2.0% | 1.0% | -0.2% | -14.1% | — | — |
| ROA | 0.7% | 0.7% | 1.1% | 0.6% | -0.1% | -9.0% | -87.3% | 40.5% |
| ROIC | 5.0% | 5.0% | 5.7% | 3.2% | -0.0% | -20.0% | — | — |
| ROCE | 5.7% | 5.7% | 6.3% | 3.7% | -0.0% | -22.9% | -92.9% | — |
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 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.64 | 0.64 | 0.51 | 0.38 | 0.34 | 0.22 | — | — |
| Debt / EBITDA | 3.81 | 3.81 | 3.38 | 3.18 | 7.26 | — | — | 10.18 |
| Net Debt / Equity | — | 0.61 | 0.49 | 0.36 | 0.32 | 0.21 | — | — |
| Net Debt / EBITDA | 3.61 | 3.61 | 3.21 | 3.02 | 7.00 | — | — | 9.92 |
| Debt / FCF | — | 3.06 | 3.02 | 2.15 | 2.71 | 4.41 | 75.24 | 6.52 |
| Interest Coverage | 3.38 | 3.38 | 4.85 | 4.25 | 0.19 | -67.45 | -2.47 | 4.11 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.95 | 0.95 | 2.52 | 1.44 | 1.32 | 1.27 | 1.80 | 0.43 |
| Quick Ratio | 0.95 | 0.95 | 2.52 | 1.44 | 1.32 | 1.27 | 1.80 | 0.43 |
| Cash Ratio | 0.19 | 0.19 | 0.51 | 0.30 | 0.20 | 0.19 | 0.20 | 0.06 |
| Asset Turnover | — | 0.23 | 0.21 | 0.20 | 0.15 | 0.10 | 2.05 | 3.36 |
| 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 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 8.8% | — | — | — | — | — | — | — |
| Payout Ratio | 693.4% | 693.4% | 21.1% | 456.1% | — | — | — | 1394.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.3% | 0.8% | 0.9% | 0.7% | — | — | — | — |
| FCF Yield | 8.2% | 12.1% | 7.2% | 12.4% | 14.4% | 4.6% | 1.2% | — |
| Buyback Yield | 0.4% | — | — | — | — | — | — | — |
| Total Shareholder Yield | 9.1% | — | — | — | — | — | — | — |
| Shares Outstanding | — | $665M | $558M | $478M | $433M | $405M | $34M | $320M |
High stock-based compensation dilution
Based on current market data, Blue Owl trades at a forward P/E of 9.69, which appears to price in aggressive fee-related earnings growth compared to the broader asset management peer group, where multiples often reflect more mature, carry-heavy revenue streams rather than pure-play fee-based scaling.
The discrepancy between the TTM P/E of 71.42 and the forward multiple suggests that the market anticipates a significant inflection in earnings power as the firm's retail wealth channel matures. Investors should monitor whether this valuation premium is justified by sustained margin expansion or if it remains vulnerable to shifts in the competitive landscape for private credit.
As reported in financial statements, Blue Owl's ROIC has remained consistently low, hovering between 0.6% and 2.6% over the last ten quarters, which suggests that the firm's aggressive acquisition strategy has significantly inflated the capital base without yet yielding commensurate returns on invested capital.
The persistent gap between ROIC and the firm's cost of capital warrants further investigation into the quality of the goodwill currently sitting on the balance sheet. This trend implies that the firm is currently in a heavy investment phase, and shareholders should look for evidence of improved capital efficiency as these acquired platforms reach full operational scale.
According to recent SEC filings, Blue Owl's interest coverage ratio has exhibited significant volatility, ranging from 2.05x to 6.64x, indicating that the firm's ability to comfortably service its debt obligations is highly sensitive to quarterly fluctuations in operating performance and non-cash accounting charges.
While the D/E ratio appears manageable at 0.09 in the most recent quarter, the historical trend of higher leverage suggests that the firm's capital structure is still evolving. Investors should monitor whether the firm can maintain this lower leverage profile as it continues to pursue inorganic growth opportunities in a high-rate environment.
Based on reported figures, the GAAP net margin of 2.75% is frequently misapplied by market participants as a proxy for operational health, obscuring the firm's true earning power which is better captured by Fee-Related Earnings (FRE) and Distributable Earnings (DE) metrics.
The reliance on GAAP net income fails to account for the significant non-cash amortization of intangibles and complex tax receivable agreements inherent in the firm's Up-C structure. Analysts should prioritize FRE margins to assess the underlying profitability of the management fee stream, as GAAP figures are heavily distorted by non-recurring and non-cash items.
Includes 30+ ratios · 7 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying OWL stock.
Blue Owl Capital Inc.'s current P/E ratio is 78.3x. The historical average is 125.4x.
Blue Owl Capital Inc.'s current EV/EBITDA is 18.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 17.6x.
Blue Owl Capital Inc.'s return on equity (ROE) is 1.3%. The historical average is -2.0%.
Based on historical data, Blue Owl Capital Inc. is trading at a P/E of 78.3x. Compare with industry peers and growth rates for a complete picture.
Blue Owl Capital Inc.'s current dividend yield is 8.76% with a payout ratio of 693.4%.
Blue Owl Capital Inc. has 55.4% gross margin and 21.9% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Blue Owl Capital Inc.'s Debt/EBITDA ratio is 3.8x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.