Q4 25 EPS
$0.24
BEAT +6.76%
Est. $0.22
Q4 25 Revenue
$755.6M
BEAT +7.84%
Est. $700.6M
vs S&P Since Q4 25
-27.4%
TRAILING MARKET
OWL -18.9% vs S&P +8.5%
Full Year 2025 Results
FY 25 EPS
$0.84
BEAT +2.29%
Est. $0.82
FY 25 Revenue
$2.87B
BEAT +7.74%
Est. $2.66B
Market Reaction
Did OWL Beat Earnings? Q4 2025 Results
Blue Owl Capital delivered a standout fourth quarter, posting earnings per share of $0.24 against a consensus estimate of $0.22, a 9.09% beat, while revenue of $755.60 million cleared the $549.46 million estimate by 37.52% and grew 19.7% year-over-ye… Read more Blue Owl Capital delivered a standout fourth quarter, posting earnings per share of $0.24 against a consensus estimate of $0.22, a 9.09% beat, while revenue of $755.60 million cleared the $549.46 million estimate by 37.52% and grew 19.7% year-over-year. The driving force behind the quarter was record capital formation: the firm crossed $307.00 billion in assets under management, fueled by $17.30 billion in new commitments during Q4 alone and an 80% surge in institutional equity fundraising for the full year, alongside the completed IPI Partners acquisition that propelled Real Assets AUM 63% higher to $80.60 billion. Fee-Related Earnings reached $416.63 million for the quarter, with FRE margins expanding to 61.6%, while Distributable Earnings climbed 21% to $382.54 million. Looking ahead, the firm's $28.40 billion in AUM not yet paying fees represents roughly $326.00 million in prospective annual management fees, underpinning confidence in a 2026 annual dividend of $0.92 per share, even as recent investor concerns around liquidity and legal challenges continue to weigh on the stock.
Key Takeaways
- • Record fundraising of $56.3 billion in new capital commitments for 2025
- • Equity fundraise of $42.0 billion for 2025, over 50% increase from 2024
- • Institutional equity fundraise of $24.7 billion, 80% increase from 2024
- • Private wealth equity fundraise up 58% from 2024
- • AUM crossed $300 billion milestone, up 22% year-over-year
- • Fee-Paying AUM of $187.7 billion, up 17% year-over-year
- • Direct lending originations of $45.4 billion for the year
- • IPI Acquisition contributed to Real Assets platform growth of 63%
- • FRE margin expansion to 61.6% from 58.9% in Q4
- • Strong investment performance: OCIC 10.1% gross return, GP Stakes III 28.3% gross IRR
OWL YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
OWL Revenue by Segment
With YoY comparisons, source: SEC Filings
“Blue Owl's results for the full year of 2025 highlight record fundraising in our institutional and private wealth channels, reflecting robust investor interest in our strategies and Blue Owl's continued global expansion. New capital commitments reached $17 billion in the fourth quarter and $56 billion in 2025.”
— Doug Ostrover, Q4 2025 Earnings Press Release
OWL Earnings Trends
OWL vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
OWL EPS Trend
Earnings per share: estimate vs actual
OWL Revenue Trend
Quarterly revenue: estimate vs actual
OWL Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.18 | $0.19 | +5.26% | $753.8M | +8.84% |
| Q4 25 BEAT FY | $0.22 | $0.24 | +6.76% | $755.6M | +7.84% |
| FY Full Year | $0.82 | $0.84 | +2.29% | $2.87B | +7.74% |
| Q3 25 MISS | $0.22 | $0.22 | -0.63% | $728.0M | +6.88% |
| Q2 25 BEAT | $0.21 | $0.21 | +1.89% | $703.1M | +10.23% |
| Q1 25 MISS | $0.18 | $0.17 | -7.76% | $683.5M | +8.97% |