{
  "url": "https://struct.news/briefs/blue-owl-is-growing-and-cash-generative-but-the-math-that-underwrites-its-864x-p-e-is-fragile",
  "title": "Free cash flow margin +36.0%. GAAP profit fell 35%.",
  "summary": "Blue Owl grew fees and raised $5.8B of new capital, but higher revolver borrowing pushed interest expense up and sliced reported net income to $11.4M.",
  "published_at": "2026-07-31T21:18:21.852264+00:00",
  "publisher": "Struct",
  "usage": "Figures are as reported by the company. Quote with attribution to the source filing.",
  "company": {
    "name": null,
    "ticker": "OWL",
    "cik": "1823945",
    "sector": null,
    "industry": null
  },
  "source_filing": {
    "form": "10-Q",
    "filed": "2026-07-31",
    "accession": "0001823945-26-000040",
    "url": "https://www.sec.gov/Archives/edgar/data/1823945/000182394526000040/owl-20260630.htm"
  },
  "comparison_filing": {
    "form": "10-Q",
    "filed": "2025-08-01",
    "url": "https://www.sec.gov/Archives/edgar/data/1823945/000182394525000048/owl-20250630.htm"
  },
  "reported_figures": [
    {
      "group": "The filing in three numbers",
      "label": "Revenue",
      "value": 2870178000,
      "display": "$2.9B",
      "unit": "usd",
      "period": "2025-12-31",
      "detail": null,
      "source": {
        "kind": "sec_filing",
        "label": "Filed company results",
        "form": "10-Q",
        "accession": "0001823945-26-000040",
        "filing_date": "2026-07-31"
      }
    },
    {
      "group": "The filing in three numbers",
      "label": "Revenue YoY",
      "value": 25.03895789323729,
      "display": "+25.0%",
      "unit": "percent",
      "period": "2025-12-31",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-Q",
        "accession": "0001823945-26-000040",
        "filing_date": "2026-07-31"
      }
    },
    {
      "group": "The filing in three numbers",
      "label": "Net margin",
      "value": 2.746624076973623,
      "display": "+2.7%",
      "unit": "percent",
      "period": "2025-12-31",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-Q",
        "accession": "0001823945-26-000040",
        "filing_date": "2026-07-31"
      }
    }
  ],
  "watch_next": [
    {
      "type": "interest_rates",
      "statement": "Higher average balance on the Revolving Credit Facility and higher average debt outstanding drove an increase in interest expense.",
      "importance": "medium",
      "evidence": "The increase in interest expense was primarily driven by higher average debt outstanding, reflecting a higher average balance on our Revolving Credit Facility (as defined in Note 7 to our Financial Statements).",
      "source_date": "2026-07-31"
    }
  ],
  "related_tickers": [
    "OWL"
  ],
  "disclaimer": "Descriptive reporting of filed results. Not investment advice, and contains no forecast or recommendation."
}