Blue Owl Technology Finance Corp.
OTF NYSE Financials FY2021–FY2025
Last close · Oct 23, 2026
$9.12
0.3%
Revenue
Total sales reported in the income statement.
$1.1B
67.5%
vs prior year
Operating margin
Operating income as a share of revenue.
—
Net income
Profit after all expenses, interest and tax.
$720M
125.7%
Free cash flow
Cash from operations minus capital spending.
—
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap
Last close times the latest diluted share count, so it is approximate.
$4.2B
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
What Blue Owl Technology Finance Corp. does
No business description yet.
- Legal name
- Blue Owl Technology Finance Corp.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 18, 2026
- Accession · CIK
- 0001747777-26-000012
0001747777
Revenue and margins
Blue Owl Technology Finance Corp. had $1.1B of revenue in fiscal 2025, up 67.5% on the year before.
FY21
Revenue $354M
FY22
Revenue $495M
FY23
Revenue $684M
FY24
Revenue $684M
FY25
Revenue $1.1B
Q3 '23
Revenue $173M
Q4 '23
Revenue $178M
Q1 '24
Revenue $172M
Q2 '24
Revenue $174M
Q3 '24
Revenue $171M
Q4 '24
Revenue $167M
Q1 '25
Revenue $183M
Q2 '25
Revenue $319M
Q3 '25
Revenue $323M
Q4 '25
Revenue $321M
Q1 '26
Revenue $326M
Q2 '26
Revenue $338M
FY21
Gross —
Operating —
Net 120.0%
FCF —
FY22
Gross —
Operating —
Net 3.8%
FCF —
FY23
Gross —
Operating —
Net 54.0%
FCF —
FY24
Gross —
Operating —
Net 46.7%
FCF —
FY25
Gross —
Operating —
Net 62.9%
FCF —
Gross
Operating
Net
FCF
Q3 '23
Gross —
Operating —
Net 32.8%
FCF —
Q4 '23
Gross —
Operating —
Net 57.0%
FCF —
Q1 '24
Gross —
Operating —
Net 52.8%
FCF —
Q2 '24
Gross —
Operating —
Net 4.7%
FCF —
Q3 '24
Gross —
Operating —
Net 69.9%
FCF —
Q4 '24
Gross —
Operating —
Net 60.4%
FCF —
Q1 '25
Gross —
Operating —
Net 42.7%
FCF —
Q2 '25
Gross —
Operating —
Net 63.1%
FCF —
Q3 '25
Gross —
Operating —
Net 72.8%
FCF —
Q4 '25
Gross —
Operating —
Net 64.2%
FCF —
Q1 '26
Gross —
Operating —
Net −67.5%
FCF —
Q2 '26
Gross —
Operating —
Net 45.6%
FCF —
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY21
Net income $425M
FY22
Net income $19.0M
FY23
Net income $369M
FY24
Net income $319M
FY25
Net income $720M
Q3 '23
Net income $56.8M
Q4 '23
Net income $102M
Q1 '24
Net income $90.9M
Q2 '24
Net income $8.1M
Q3 '24
Net income $120M
Q4 '24
Net income $101M
Q1 '25
Net income $78.1M
Q2 '25
Net income $201M
Q3 '25
Net income $235M
Q4 '25
Net income $206M
Q1 '26
Net income −$220M
Q2 '26
Net income $154M
FY21
Diluted EPS $3.05
FY22
Diluted EPS $0.09
FY23
Diluted EPS $1.80
FY24
Diluted EPS $1.52
FY25
Diluted EPS —
Q3 '23
Diluted EPS $0.28
Q4 '23
Diluted EPS $0.48
Q1 '24
Diluted EPS $0.44
Q2 '24
Diluted EPS $0.04
Q3 '24
Diluted EPS $0.57
Q4 '24
Diluted EPS $0.47
Q1 '25
Diluted EPS $0.33
Q2 '25
Diluted EPS $0.43
Q3 '25
Diluted EPS $0.50
Q4 '25
Diluted EPS —
Q1 '26
Diluted EPS −$0.47
Q2 '26
Diluted EPS $0.33
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY21
Return on capital —
Return on equity 12.0%
Return on assets —
FY22
Return on capital —
Return on equity 0.5%
Return on assets 0.3%
FY23
Return on capital —
Return on equity 10.7%
Return on assets 5.5%
FY24
Return on capital —
Return on equity 8.9%
Return on assets 4.8%
FY25
Return on capital —
Return on equity 12.3%
Return on assets 6.7%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was — in fiscal 2025, — of revenue. Cash from operations minus capital spending.
FY21
Free cash flow —
FY22
Free cash flow —
FY23
Free cash flow —
FY24
Free cash flow —
FY25
Free cash flow —
FY21
Cash from operations −$2.6B
Capital spending —
FY22
Cash from operations −$295M
Capital spending —
FY23
Cash from operations $708M
Capital spending —
FY24
Cash from operations $64.2M
Capital spending —
FY25
Cash from operations −$916M
Capital spending —
Cash from operations
Capital spending
Q3 '23
Cash from operations $238M
Capital spending —
Q4 '23
Cash from operations $252M
Capital spending —
Q1 '24
Cash from operations $79.0M
Capital spending —
Q2 '24
Cash from operations −$23.0M
Capital spending —
Q3 '24
Cash from operations −$154M
Capital spending —
Q4 '24
Cash from operations $162M
Capital spending —
Q1 '25
Cash from operations $542M
Capital spending —
Q2 '25
Cash from operations −$410M
Capital spending —
Q3 '25
Cash from operations $159M
Capital spending —
Q4 '25
Cash from operations −$1.2B
Capital spending —
Q1 '26
Cash from operations −$197M
Capital spending —
Q2 '26
Cash from operations −$317M
Capital spending —
Cash from operations
Capital spending
Dividends, buybacks and share count
Blue Owl Technology Finance Corp. returned $467M to shareholders in fiscal 2025. The diluted share count rose 95.2%.
FY21
Dividends $83.3M
Buybacks —
FY22
Dividends $136M
Buybacks —
FY23
Dividends $209M
Buybacks $0.0M
FY24
Dividends $230M
Buybacks $0.0M
FY25
Dividends $394M
Buybacks $73.4M
Dividends
Buybacks
Q3 '23
Dividends $56.3M
Buybacks —
Q4 '23
Dividends $56.6M
Buybacks —
Q1 '24
Dividends $56.4M
Buybacks —
Q2 '24
Dividends $56.0M
Buybacks —
Q3 '24
Dividends $61.0M
Buybacks —
Q4 '24
Dividends $56.6M
Buybacks $0.0M
Q1 '25
Dividends $106M
Buybacks $0.0M
Q2 '25
Dividends −$0.0M
Buybacks $0.0M
Q3 '25
Dividends $132M
Buybacks $8.9M
Q4 '25
Dividends $156M
Buybacks $64.6M
Q1 '26
Dividends $167M
Buybacks $50.2M
Q2 '26
Dividends $166M
Buybacks $55.1M
Dividends
Buybacks
FY21
Diluted shares 0.14B
FY22
Diluted shares 0.20B
FY23
Diluted shares 0.21B
FY24
Diluted shares 0.21B
FY25
Diluted shares 0.41B
Balance sheet
Cash, debt and the ratios that show how comfortably Blue Owl Technology Finance Corp. can carry it.
FY21
Cash $107M
Debt —
FY22
Cash $203M
Debt $3.2B
FY23
Cash $469M
Debt $2.9B
FY24
Cash $257M
Debt $2.9B
FY25
Cash $283M
Debt $6.3B
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $107M | $203M | $469M | $257M | $283M |
| Debt incl. finance leases | — | $3.2B | $2.9B | $2.9B | $6.3B |
| Debt / equity | — | 0.9x | 0.8x | 0.8x | 0.8x |
| Total assets | — | $6.7B | $6.7B | $6.7B | $14.7B |
| Total liabilities | — | $3.3B | $3.1B | $3.1B | $6.7B |
| Shareholders' equity | $3.5B | $3.4B | $3.5B | $3.6B | $8.0B |
| Net debt (− = net cash) | — | $3.0B | $2.5B | $2.7B | $6.0B |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. “Plan” marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✕ | ✕ | ✓ | ✓ | ✕ |
| Return on assets rose | — | — | ✓ | ✕ | ✓ |
| Cash from operations exceeds net income | ✕ | ✕ | ✓ | ✕ | ✕ |
| Debt fell relative to assets | — | — | ✓ | ✓ | ✓ |
| Current ratio rose | — | — | — | — | — |
| Share count didn't rise | — | ✕ | ✕ | ✕ | ✕ |
| Gross margin rose | — | — | — | — | — |
| Revenue rose relative to assets | — | — | ✓ | ✕ | ✕ |
| F-score | — / 3 | — / 4 | 6 / 7 | 3 / 7 | 3 / 7 |
| Accruals ratio | — | 4.7% | −5.1% | 3.8% | 15.3% |
| Altman Z'' | — | — | — | — | — |
5 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Income statement | |||||
| Revenue | $354M | $495M | $684M | $684M | $1.1B |
| Interest expense | $93.8M | $137M | $196M | $193M | $321M |
| Net income | $425M | $19.0M | $369M | $319M | $720M |
| Diluted EPS | $3.05 | $0.09 | $1.80 | $1.52 | — |
| Diluted shares | 0.14B | 0.20B | 0.21B | 0.21B | 0.41B |
| Cash flow | |||||
| Cash from operations | −$2.6B | −$295M | $708M | $64.2M | −$916M |
| Share buybacks | — | — | $0.0M | $0.0M | $73.4M |
| Dividends paid | $83.3M | $136M | $209M | $230M | $394M |
| Dividends and buybacks | $83.3M | $136M | $209M | $230M | $467M |
| Balance sheet | |||||
| Cash and short-term investments | $107M | $203M | $469M | $257M | $283M |
| Total debt | — | $3.2B | $2.9B | $2.9B | $6.3B |
| Total assets | — | $6.7B | $6.7B | $6.7B | $14.7B |
| Total liabilities | — | $3.3B | $3.1B | $3.1B | $6.7B |
| Shareholders' equity | $3.5B | $3.4B | $3.5B | $3.6B | $8.0B |
| Margins | |||||
| Net margin | 120.0% | 3.8% | 54.0% | 46.7% | 62.9% |
| Returns | |||||
| Return on equity | 12.0% | 0.5% | 10.7% | 8.9% | 12.3% |
| Return on assets | — | 0.3% | 5.5% | 4.8% | 6.7% |
| Return on tangible equity | 12.0% | 0.6% | 10.5% | 8.8% | 9.0% |
| Growth | |||||
| Revenue growth | — | 39.7% | 38.2% | 0.0% | 67.5% |
| Net income growth | — | −95.5% | 1,842.9% | −13.5% | 125.7% |
| EPS growth | — | −97.0% | 1,900.0% | −15.6% | — |
| Share count change | — | 44.7% | 1.8% | 2.3% | 95.2% |
| Financial health | |||||
| Debt / equity | — | 0.9x | 0.8x | 0.8x | 0.8x |
| Quality scores | |||||
| Piotroski F-score | — | — | 6.0 | 3.0 | 3.0 |
| Accruals ratio | — | 4.7% | −5.1% | 3.8% | 15.3% |
Source: SEC EDGAR XBRL filings (CIK 0001747777). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.