OBDC
Financial ServicesBlue Owl Capital Corporation · Financial - Credit Services · $5B
What is Blue Owl Capital Corporation?
Blue Owl Capital Corporation (OBDC) is a business development company focused on lending to middle-market businesses across the United States. It provides flexible capital solutions to companies that often lack access to traditional public debt markets.
OBDC generates income primarily by originating and holding loans to private, middle-market U.S. companies. Its portfolio spans senior secured loans, subordinated and mezzanine debt, and select equity-related instruments such as warrants and preferred stock. Target borrowers typically carry annual revenues between fifty million and several billion dollars. The BDC structure requires distributing the majority of taxable income to shareholders, making dividend income a central part of the investment thesis.
The company was founded in 2019 and is headquartered in New York City.
- Senior secured loans to middle-market companies
- Subordinated and mezzanine debt financing
- Preferred equity and warrant investments
- Growth and acquisition financing for private businesses
- Recapitalization and refinancing solutions
Is OBDC a Good Stock to Buy?
UQS Score rates OBDC as Good overall, reflecting a balanced but nuanced profile across its five pillars.
The Quality pillar stands out as the clearest positive signal — OBDC's loan portfolio and income generation compare favorably within the BDC space. Valuation also registers as Good, suggesting the stock is not obviously expensive relative to what it offers income-focused investors.
The Moat and Risk pillars both register as Weak, pointing to limited competitive differentiation and meaningful credit or macro sensitivity that investors should weigh carefully.
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Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does OBDC pay dividends?
Yes — Blue Owl Capital Corporation pays a dividend.
OBDC pays a regular dividend, consistent with its structure as a business development company. BDCs are required by regulation to distribute the vast majority of their taxable income, making dividend payments a core feature rather than a discretionary choice. For income-oriented investors, this cadence can be attractive — though dividend sustainability depends on credit quality across the underlying loan portfolio.
When does OBDC report earnings?
Blue Owl Capital Corporation reports earnings on a quarterly cadence, typical for US-listed equities.
As a BDC, OBDC's quarterly results center on net investment income, portfolio credit quality, and net asset value per share. Shifts in interest rates and borrower health in the middle market tend to drive the most meaningful quarter-to-quarter variation.
For the most recent quarter's results, visit Blue Owl Capital Corporation's investor relations page directly.
OBDC Price History
+38.2% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Blue Owl Capital Corporation?
Based on Blue Owl Capital Corporation's historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
OBDC Long-term Outlook
OBDC's Growth pillar is rated Neutral, suggesting the portfolio is expanding at a measured pace rather than accelerating sharply. The Weak Risk rating reflects real sensitivity to credit cycles — if middle-market borrowers face stress, net investment income and NAV can compress. On the other hand, the Good Valuation label indicates the market has already priced in a degree of caution, which may limit downside surprise for patient income investors.
Growth drivers
- Rising or sustained interest rates supporting floating-rate loan income
- Continued demand for private credit from middle-market borrowers
- Potential portfolio expansion through new originations and reinvestment
Key risks
- Credit deterioration among middle-market borrowers in a slowdown
- Compression of net investment income if rates decline materially
- Limited competitive moat in a crowded private credit landscape
OBDC vs Peers
OBDC operates in a competitive segment of financial services alongside other lenders and credit-focused vehicles.
Credit Acceptance focuses on consumer auto lending for subprime borrowers, a very different credit niche from OBDC's middle-market corporate loans.
This Carlyle debt instrument represents the alternative asset management side of private credit, contrasting with OBDC's direct BDC equity structure.
Navient's senior notes reflect a student-loan-focused credit profile, distinct from OBDC's corporate middle-market lending mandate.
Frequently Asked Questions
What does Blue Owl Capital Corporation do?
Blue Owl Capital Corporation is a business development company that lends to private, middle-market U.S. businesses. It primarily originates senior secured loans but also holds subordinated debt and select equity instruments. The BDC structure means it passes most of its income directly to shareholders as dividends.
Does OBDC pay dividends?
Yes, OBDC pays a regular dividend. As a regulated BDC, it is required to distribute the substantial majority of its taxable income to shareholders. This makes dividend income a defining feature of the stock rather than an optional perk.
When does OBDC report earnings?
Blue Owl Capital Corporation reports earnings on a quarterly cadence, in line with standard US-listed company practice. For exact dates and the most recent results, check the investor relations section of the company's official website.
Is OBDC a good stock to buy?
UQS Score rates OBDC as Good overall. The Quality and Valuation pillars are positive signals, while the Moat and Risk pillars flag meaningful concerns around competitive positioning and credit sensitivity. Whether it fits your portfolio depends on your income needs and risk tolerance.
Is OBDC overvalued?
The UQS Valuation pillar for OBDC is rated Good, suggesting the stock is not obviously overpriced relative to its fundamentals. BDC valuations are often assessed relative to net asset value, and the current rating implies a reasonable entry point — though risk factors remain relevant.
How does OBDC compare to its competitors?
OBDC focuses on middle-market corporate lending through the BDC structure, which differs from consumer lenders like Credit Acceptance or debt instruments from alternative asset managers. Its direct lending model gives it a distinct income profile, though the private credit space is increasingly crowded.
What is OBDC's market cap bracket?
OBDC is classified as a mid-cap stock. This places it in a meaningful size tier within the BDC universe — large enough to have institutional coverage, but not a mega-cap financial conglomerate.
Who founded Blue Owl Capital Corporation?
Blue Owl Capital Corporation was established in 2019. Founding and leadership details are publicly available through the company's official disclosures and SEC filings, which provide the most accurate and current information.
Is OBDC a long-term quality investment?
From a long-term quality perspective, OBDC's Strong Quality pillar is encouraging, but the Weak Moat and Risk ratings suggest durability of returns is not guaranteed. Long-term holders should monitor credit quality trends and the competitive dynamics of private credit markets closely.
What is the main competitive advantage of Blue Owl Capital Corporation?
OBDC's primary edge lies in its access to deal flow within the middle-market lending space and its focus on senior secured positions that rank ahead of other creditors. However, the UQS Moat pillar rates this advantage as Weak, reflecting how competitive the private credit landscape has become.
What sector does OBDC belong to?
OBDC belongs to the Financial Services sector, specifically operating as a business development company. BDCs are a regulated category of closed-end investment vehicles that provide debt and equity capital to private, often smaller businesses.
Is OBDC a growth stock or value stock?
OBDC leans toward the income and value end of the spectrum. Its Growth pillar is rated Neutral, indicating modest expansion rather than rapid scaling. The Good Valuation rating and regular dividend make it more relevant to income-focused investors than pure growth seekers.
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Pro Analysis
OBDC — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 9, 2026 | 49.8 | 81.0 | 32.0 | 40.4 | 17.9 | 71.8 | -2.0 |
| May 7, 2026 | 51.8 | 85.3 | 32.0 | 42.0 | 16.6 | 77.3 | +0.1 |
| May 3, 2026 | 51.7 | 85.3 | 32.0 | 42.0 | 16.6 | 76.6 | -0.1 |
| Apr 26, 2026 | 51.8 | 85.3 | 32.0 | 42.0 | 16.6 | 77.1 | +0.3 |
| Apr 22, 2026 | 51.5 | 85.3 | 32.0 | 41.5 | 16.6 | 75.8 | +0.1 |
| Apr 19, 2026 | 51.4 | 85.3 | 32.0 | 41.3 | 16.6 | 75.4 | -0.1 |
| Apr 18, 2026 | 51.5 | 85.3 | 32.0 | 41.3 | 16.6 | 76.4 | -2.4 |
| Apr 14, 2026 | 53.9 | 85.3 | 32.0 | 41.3 | 16.6 | 92.4 | -0.1 |
| Apr 2, 2026 | 54.0 | 85.3 | 32.0 | 41.3 | 16.6 | 92.6 | — |
OBDC — Pillar Breakdown
Quality
— 81.0/100 (25%)Blue Owl Capital Corporation demonstrates outstanding capital efficiency and profitability, placing it among the highest-quality businesses in the market.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Free cash flow relative to market value.
Growth
— 40.3/100 (20%)Blue Owl Capital Corporation shows steady but unspectacular growth, typical for mature companies.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 17.9/100 (15%)Blue Owl Capital Corporation presents elevated risk with concerns around leverage or financial stability.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 71.7/100 (15%)Blue Owl Capital Corporation trades at a reasonable valuation with decent earnings yield and FCF multiples.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 32/100 (25%)Blue Owl Capital Corporation operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for OBDC.
Score Composition
Financial Data
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How is the OBDC UQS Score Calculated?
The UQS (Unified Quality Score) for Blue Owl Capital Corporation is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Blue Owl Capital Corporation's competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Blue Owl Capital Corporation is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.