Blue Owl Capital (OWL) Operating Expenses (2020 - 2026)
Blue Owl Capital (OWL) posted quarterly Operating Expenses of $636.6 million for Q2 2026, up 5.43% year-over-year from $603.8 million in Q2 2025, and down 1.19% on a QoQ basis from $644.3 million in Q1 2026.
Blue Owl Capital (OWL) Operating Expenses (2020 - 2026) Analysis & Trends
Blue Owl Capital has reported Operating Expenses for 7 years, with the latest figure at $636.6 million in Q2 2026.
- Operating Expenses for Q2 2026 came in at $636.6 million, up 5.43% year-over-year; the trailing twelve-month figure through Jun 2026 was $2.5 billion (up 14.85% YoY), and the FY2025 annual result was $2.4 billion, up 42.95% from the prior year.
- Operating Expenses eased to $636.6 million in Q2 2026, from $644.3 million in the prior quarter.
- Over five years, Operating Expenses peaked at $644.3 million in Q1 2026 and troughed at $298.7 million in Q1 2022.
- A 5-year average of $453.9 million and a median of $377.3 million in 2023 frame the typical range for Operating Expenses.
- The largest YoY upside for Operating Expenses was 375.32% in 2022 against a maximum downside of 73.93% in 2022.
- A 5-year view of Operating Expenses shows it stood at $367.5 million in 2022, then climbed by 2.65% to $377.3 million in 2023, then soared by 30.55% to $492.5 million in 2024, then rose by 19.5% to $588.6 million in 2025, then rose by 8.16% to $636.6 million in 2026.
- Per Business Quant data, the three most recent Operating Expenses figures were $636.6 million in Q2 2026, $644.3 million in Q1 2026, and $588.6 million in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 176.99 Bn | 163.12 Bn | - | 4.62 Bn |
| 2 | Blackstone | 113.16 Bn | 110.65 Bn | - | 2.38 Bn |
| 3 | Kkr | 96.05 Bn | -181.02 Bn | - | 5.41 Bn |
| 4 | Brookfield | 92.54 Bn | 45.14 Bn | - | 14.94 Bn |
| 5 | Brookfield Asset Management | 82.31 Bn | 80.81 Bn | - | 659.00 Mn |
| 6 | Apollo Global Management | 77.14 Bn | 51.77 Bn | 10.54 Bn | 8.74 Bn |
| 7 | State Street | 50.64 Bn | 50.64 Bn | - | 2.66 Bn |
| 8 | Ameriprise Financial | 50.31 Bn | 39.27 Bn | 4.72 Bn | 3.50 Bn |
| 9 | Northern Trust | 33.61 Bn | 33.61 Bn | - | 1.64 Bn |
| 10 | Blue Owl Capital | 7.87 Bn | 7.70 Bn | - | 636.64 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 636.64 Mn |
| Mar 31, 2026 | 644.32 Mn |
| Dec 31, 2025 | 588.60 Mn |
| Sep 30, 2025 | 615.31 Mn |
| Jun 30, 2025 | 603.82 Mn |
| Mar 31, 2025 | 606.19 Mn |
| Dec 31, 2024 | 492.53 Mn |
| Sep 30, 2024 | 461.11 Mn |
| Jun 30, 2024 | 377.30 Mn |
| Mar 31, 2024 | 357.73 Mn |
| Dec 31, 2023 | 377.28 Mn |
| Sep 30, 2023 | 336.19 Mn |
| Jun 30, 2023 | 375.68 Mn |
| Mar 31, 2023 | 324.64 Mn |
| Dec 31, 2022 | 367.55 Mn |
| Sep 30, 2022 | 368.55 Mn |
| Jun 30, 2022 | 337.39 Mn |
| Mar 31, 2022 | 298.71 Mn |
| Dec 31, 2021 | 222.34 Mn |
| Sep 30, 2021 | 171.54 Mn |