Blue Owl Capital Corporation (OBDC) is a prominent alternative asset management firm focused on private credit and direct lending, catering specifically to institutional investors. With a commitment to delivering tailored investment solutions, the company fosters long-term partnerships across diverse sectors, ensuring alignment of interests with its clients. Backed by a strong portfolio and an adept management team, Blue Owl is well-equipped to seize market opportunities and expertly navigate the private capital landscape, all while maintaining a steadfast dedication to transparency and value creation, solidifying its status as a trusted leader in the investment arena.
| Revenue (TTM) | $1.70B |
| Gross Profit (TTM) | $1.70B |
| EBITDA | — |
| Operating Margin | 74.70% |
| Return on Equity | 3.92% |
| Return on Assets | 4.88% |
| Revenue/Share (TTM) | $3.38 |
| Book Value | $14.26 |
| Price-to-Book | 0.82 |
| Price-to-Sales (TTM) | 3.36 |
| EV/Revenue | 36.51 |
| EV/EBITDA | — |
| Quarterly Earnings Growth (YoY) | -50.70% |
| Quarterly Revenue Growth (YoY) | -17.40% |
| Shares Outstanding | $496.31M |
| Float | 0 |
| % Insiders | 0.27% |
| % Institutions | 56.40% |
Volatility is currently expanding
Many BDCs have cut their dividends in the past 12-month period. However, for many (including those who have already cut), some form of damage is still in front of them. In my view, investing in BDCs for truly durable income is almost impossible.
OBDC's Q2 earnings beat estimates as lower interest expenses help offset weaker interest income and declining net investment income.
Blue Owl Capital Corporation (OBDC) Q2 2026 Earnings Call Transcript
NEW YORK, Aug. 5, 2026 /PRNewswire/ -- Blue Owl Capital Corporation (NYSE: OBDC) ("OBDC" or the "Company") today announced financial results for its second quarter ended June 30, 2026. SECOND QUARTER 2026 HIGHLIGHTS Second quarter GAAP net investment income ("NII") per share of $0.36 Second quarter adjusted NII per share(1) increased to $0.34, as compared to the prior quarter of $0.31 Based on OBDC's supplemental dividend framework, the Board of Directors (the "Board") declared a second quarter supplemental dividend of $0.02 per share Dividends declared totaled $0.33 per share, representing an annualized dividend yield of 9.3%(2) Net asset value ("NAV") per share of $14.26, as compared to $14.41 as of March 31, 2026, primarily reflecting markdowns on a small number of names, partially offset by over-earning the dividend and accretive share repurchases New investment commitments for the second quarter were $319 million and sales and repayments were $747 million Investments on non-accrual represented 2.8% and 0.8% of the portfolio at cost and fair value, respectively, as compared to 2.0% and 1.0% as of March 31, 2026 The Company repurchased approximately $35 million of OBDC common stock, which was accretive to NAV per share in the second quarter Amended and extended the revolving credit facility with all banking partners renewing commitments and issued $800 million of unsecured debt during the second quarter "We are pleased with OBDC's performance this quarter, generating strong earnings resulting in a 9.6% annualized return on adjusted net investment income and healthy dividend coverage.
WP Carey (WPC) delivered a steady dividend raise, maintaining a 5.1% yield and demonstrating resilient income performance. Four BDCs—PFLT, CCAP, CGBD, OBDC—implemented double-digit dividend cuts, reflecting sector volatility and recent price declines near 52-week lows. Despite dividend reductions, all BDCs remain in the RIG portfolio, with recommendations to hold as dividend coverage stabilizes and recovery potential emerges.
The market is very richly priced right now, making high-quality companies trading at a deep discount a rare find. I share two deeply undervalued quality dividend machines yielding up to 11.6% that the market has thrown out with the bathwater. I also share the risks involved and detail why I think they are highly compelling buys right now.
The VanEck BDC Income ETF (NYSEARCA:BIZD) just delivered a jolt to income investors: its July distribution came in at $0.24 per share, roughly half the $0.48 paid in April.
Massive dividend yields are a huge draw for investors – both because everyone likes income
Externally managed BDCs have to meet a high bar to qualify for a durable income portfolio. Their fees and sub-optimal incentives provide a structural headwind for long-term compounding. In my portfolio, I hold 2 externally managed BDCs that have passed the test.
NEW YORK, July 1, 2026 /PRNewswire/ -- Blue Owl Capital Corporation (NYSE: OBDC) ("OBDC") today announced it will release its financial results for the second quarter ended June 30, 2026 on Wednesday, August 5, 2026 after market close. OBDC invites all interested persons to its webcast / conference call on Thursday, August 6, 2026 at 10:00 a.m.
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