Filing Flows › Blue Owl Capital (OWL) › Q3 2026
Blue Owl Capital (OWL) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 30, 2026
Blue Owl Capital (OWL) reported revenue of $807M for the third quarter 2026 (Q3 2026), +11% from a year earlier and +7% from the quarter before. Operating margin was 18.3%, net earnings $20.0M (2.5% of revenue).
Blue Owl Capital, Q3 2026: revenue $807M (+11% year over year), operating margin 18.3%, net earnings $20.0M, operating cash flow $609M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $807M | +7% | +11% |
| Operating profit | $148M | +27% | +31% |
| Net earnings | $20.0M | +75% | +216% |
| Operating cash flow | $609M | +32% | +41% |
| Free cash flow | $601M | +33% | +42% |
What changed
Revenue was $806.5M in Q3 2026, up 11% year over year and up 7% from the previous quarter. Total Management and Other Fees, Net was the largest line at 100% of revenue. Total Management and Other Fees, Net added $78.4M year over year (up 11%), 100% of the total change.
Operating profit was $147.8M, a 18.3% margin (up 2.8 points year over year). Of the extra revenue versus Q3 2025, 45% reached operating profit, above the 15% margin then. Total costs grew 7% against revenue growth of 11%. Net earnings were $20.0M, up 216% year over year. The effective tax rate was 14.9%.
Operating cash flow was $609.3M (up 41% year over year), 760% of net income including minority interests. Non-cash charges added back $94.0M of depreciation and amortization and $192.3M of share-based compensation. Working capital and other items added $242.8M. Capital expenditures of $7.9M left free cash flow of $601.4M.
Questions
What was Blue Owl Capital's revenue in the third quarter 2026?
Blue Owl Capital (OWL) reported revenue of $807M for the third quarter 2026 (Q3 2026), +11% from a year earlier and +7% from the quarter before.
Was Blue Owl Capital profitable in the third quarter 2026?
Operating profit was $148M (18.3% of revenue) and net earnings $20.0M.
Source: Blue Owl Capital 10-Q on SEC EDGAR.