Q4 25 EPS
$0.36
BEAT +1.12%
Est. $0.36
Q4 25 Revenue
$447.8M
MISS 0.71%
Est. $450.9M
vs S&P Since Q4 25
-17.3%
TRAILING MARKET
OBDC -7.5% vs S&P +9.8%
Full Year 2025 Results
FY 25 EPS
$1.24
MISS 18.47%
Est. $1.52
FY 25 Revenue
$1.85B
BEAT +0.09%
Est. $1.85B
Market Reaction
Did OBDC Beat Earnings? Q4 2025 Results
Blue Owl Capital Corporation delivered a mixed fourth quarter for fiscal 2025, with adjusted net investment income per share of $0.36 missing the $0.37 consensus estimate by 1.50%, as compressed floating-rate yields weighed on returns. Total investme… Read more Blue Owl Capital Corporation delivered a mixed fourth quarter for fiscal 2025, with adjusted net investment income per share of $0.36 missing the $0.37 consensus estimate by 1.50%, as compressed floating-rate yields weighed on returns. Total investment income of $447.75 million, while representing a 62.0% year-over-year gain, came in 47.62% below the $854.83 million consensus, reflecting a modest sequential decline from $453.06 million in Q3 as lower base rates squeezed the company's predominantly floating-rate portfolio. NAV per share edged down to $14.81 from $14.89, pressured by credit-related markdowns on a handful of names, though OBDC offset some of that erosion through its largest quarterly share repurchase in recent memory, buying back roughly $148.00 million of stock at 86% of book value. The company's newly approved $300.00 million repurchase program and a strategic $400.00 million asset sale, part of a broader $1.40 billion cross-BDC transaction, are expected to reduce leverage and create fresh deployment capacity, even as a Barclays downgrade has added a cautious backdrop to the investment outlook.
Key Takeaways
- • Defensive senior secured strategy focused on upper middle market
- • Lower base rates reduced investment income on floating-rate assets
- • Higher unscheduled paydown income of $16.0 million in Q4 vs $11.1 million in Q3
- • Reduced operating expenses and lower floating-rate liability costs
- • Accretive share repurchases partially offset NAV per share decline
- • Non-accrual investments improved to 2.3% at cost and 1.1% at fair value
OBDC YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
OBDC Revenue by Segment
With YoY comparisons, source: SEC Filings
“OBDC closed the year with strong fourth quarter earnings and credit performance, reflecting the health of our borrowers and our defensive, senior secured strategy focused on the upper middle market. Demonstrating our conviction in OBDC's strategy and long-term value, we repurchased approximately $148 million of OBDC's common stock during the quarter, accretive to NAV per share and the largest quarterly repurchase activity in our history.”
— Craig W. Packer, Q4 2025 Earnings Press Release
OBDC Earnings Trends
OBDC vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
OBDC EPS Trend
Earnings per share: estimate vs actual
OBDC Revenue Trend
Quarterly revenue: estimate vs actual
OBDC Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $0.35 | $0.31 | -10.74% | $396.8M | -5.91% |
| Q4 25 BEAT FY | $0.36 | $0.36 | +1.12% | $447.8M | -0.71% |
| FY Full Year | $1.52 | $1.24 | -18.47% | $1.85B | +0.09% |
| Q3 25 MISS | $0.39 | $0.36 | -8.68% | $453.1M | -2.89% |
| Q2 25 BEAT | $0.40 | $0.40 | +0.43% | $485.8M | +1.19% |
| Q1 25 MISS | $0.43 | $0.39 | -9.58% | $464.6M | -1.05% |