Blue Owl Capital (OBDC) Operating Expenses (2021 - 2026)
Blue Owl Capital (OBDC) posted Operating Expenses of $224.5 million for Q2 2026, down 4.55% on a QoQ basis from $235.2 million in Q1 2026, and down 15.89% year-over-year from $266.8 million in Q2 2025.
Analysis
Blue Owl Capital (OBDC) Operating Expenses (2021 - 2026) Analysis & Trends
Blue Owl Capital has reported Operating Expenses for 6 years, with the latest figure at $224.5 million in Q2 2026.
- On a quarterly basis, Operating Expenses fell 15.89% year-over-year to $224.5 million in Q2 2026; TTM through Jun 2026 was $972.1 million, a 1.93% increase from a year earlier, with the FY2025 full-year figure at $1.0 billion, up 23.09% from the prior year.
- Operating Expenses was $224.5 million for Q2 2026 at Blue Owl Capital, down from $235.2 million in the prior quarter.
- The five-year high for Operating Expenses was $266.8 million in Q2 2025, with the low at $141.0 million in Q1 2022.
- Average Operating Expenses over 5 years is $211.0 million, with a median of $208.8 million recorded in 2023.
- The sharpest annual moves came in 2023 and 2026: Operating Expenses surged 39.97% in 2023, then decreased 15.89% in 2026.
- Over 5 years, Operating Expenses stood at $186.2 million in 2022, then increased by 11.66% to $207.9 million in 2023, then climbed by 0.85% to $209.7 million in 2024, then climbed by 20.46% to $252.6 million in 2025, then slipped by 11.15% to $224.5 million in 2026.
- The last three Operating Expenses figures came in at $224.5 million (Q2 2026), $235.2 million (Q1 2026), and $252.6 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Ares Capital | 14.09 Bn | 13.70 Bn | - | 401.00 Mn |
| 2 | Blackstone Secured Lending Fund | 5.63 Bn | 5.36 Bn | - | 142.27 Mn |
| 3 | Blue Owl Capital | 5.47 Bn | 5.23 Bn | - | 224.46 Mn |
| 4 | Main Street Capital | 5.21 Bn | 5.16 Bn | - | 55.78 Mn |
| 5 | Blue Owl Technology Finance | 4.92 Bn | 4.71 Bn | - | 198.97 Mn |
| 6 | Hercules Capital | 4.66 Bn | 4.61 Bn | - | 61.10 Mn |
| 7 | FS KKR Capital | 3.33 Bn | 3.22 Bn | - | 179.00 Mn |
| 8 | Golub Capital Bdc | 3.30 Bn | 3.25 Bn | - | 102.51 Mn |
| 9 | PennantPark Floating Rate Capital | 2.49 Bn | -118.08 Mn | - | 40.19 Mn |
| 10 | MidCap Financial Investment | 2.07 Bn | 2.03 Bn | - | 35.52 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 224.46 Mn |
| Mar 31, 2026 | 235.16 Mn |
| Dec 31, 2025 | 252.61 Mn |
| Sep 30, 2025 | 259.89 Mn |
| Jun 30, 2025 | 266.85 Mn |
| Mar 31, 2025 | 259.60 Mn |
| Dec 31, 2024 | 209.71 Mn |
| Sep 30, 2024 | 217.56 Mn |
| Jun 30, 2024 | 205.22 Mn |
| Mar 31, 2024 | 211.57 Mn |
| Dec 31, 2023 | 207.94 Mn |
| Sep 30, 2023 | 206.24 Mn |
| Jun 30, 2023 | 205.17 Mn |
| Mar 31, 2023 | 196.38 Mn |
| Dec 31, 2022 | 186.23 Mn |
| Sep 30, 2022 | 165.68 Mn |
| Jun 30, 2022 | 146.58 Mn |
| Mar 31, 2022 | 141.00 Mn |
| Dec 31, 2021 | 142.77 Mn |
| Sep 30, 2021 | 137.01 Mn |