Filing Flows › Blue Owl Capital (OWL) › How it makes money
How Blue Owl Capital (OWL) makes money
Blue Owl Capital (OWL) made $807M of revenue in the third quarter 2026 (Q3 2026), +11% from a year earlier. Total Management and Other Fees, Net brought in $806M (100%); Performance revenues brought in $297K (0%). Of every dollar of revenue, 18¢ was left as operating profit, 2¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Total Management and Other Fees, Net | $806M | 100.0% | +7% | +11% |
| Performance revenues | $297K | 0.0% | +191% | +58% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $807M | 100.0% |
| Operating profit | $148M | 18.3% |
| Income tax | $14.0M | 1.7% |
| Net earnings | $20.0M | 2.5% |
| Operating cash flow | $609M | 75.5% |
| Free cash flow | $601M | 74.6% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $807M | +11% |
| Q2 2026 | $753M | +7% |
| Q1 2026 | $754M | +10% |
| Q4 2025 | $756M | +20% |
| Q3 2025 | $728M | +21% |
| Q2 2025 | $703M | +28% |
| Q1 2025 | $683M | +33% |
From Blue Owl Capital's 10-Q filed Oct 30, 2026 (on EDGAR).
Questions
How does Blue Owl Capital make money?
Blue Owl Capital (OWL) made $807M of revenue in the third quarter 2026 (Q3 2026), +11% from a year earlier. Total Management and Other Fees, Net brought in $806M (100%); Performance revenues brought in $297K (0%). Of every dollar of revenue, 18¢ was left as operating profit, 2¢ was left as net earnings.
What is Blue Owl Capital's biggest business?
Total Management and Other Fees, Net: $806M in the third quarter 2026, 100% of revenue, +11% from a year earlier.
What is Blue Owl Capital's profit margin?
Net earnings were $20.0M, 2.5% of revenue, in the third quarter 2026; the operating margin was 18.3%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.