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OTF

Blue Owl Technology Finance Corp.

OTF

Blue Owl Technology Finance Corp. • NYSE
$13.90 ▲ 1.76% (+0.24)
Market Cap $6.51 B
52w High $21.62
52w Low $12.89
Dividend Yield 1.40%
P/E 7.72
Volume 1.63M
Outstanding Shares 468.63M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $320.437M ▲ $6.199M ▼ $234.935M ▲ 73.317% ▲ $1 ▲ $314.513M ▲
Q2-2025 $294.865M ▲ $13.754M ▲ $201.487M ▲ 68.332% ▲ $0.86 ▲ $281.111M ▲
Q1-2025 $138.627M ▼ $8.644M ▲ $78.132M ▼ 56.361% ▼ $0.33 ▼ $129.983M ▼
Q4-2024 $154.125M ▼ $6.519M ▲ $100.698M ▼ 65.335% ▼ $0.45 ▼ $147.606M ▼
Q3-2024 $173.866M $5.312M $119.538M 68.753% $0.57 $168.554M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $397.133M ▲ $13.401B ▲ $5.346B ▲ $8.055B ▲
Q2-2025 $170.523M ▼ $13.043B ▼ $5.058B ▼ $7.985B ▲
Q1-2025 $990.942M ▲ $13.219B ▲ $5.272B ▲ $7.947B ▲
Q4-2024 $257M ▲ $6.723B ▲ $3.097B ▼ $3.625B ▲
Q3-2024 $186.475M $6.685B $3.11B $3.576B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $234.935M ▲ $159.836M ▲ $-1.151M ▼ $67.925M ▲ $226.61M ▲ $159.836M ▲
Q2-2025 $201.487M ▲ $-410.163M ▼ $0 ▲ $-420.329M ▼ $-830.492M ▼ $-410.163M ▼
Q1-2025 $78.132M ▼ $608.753M ▲ $-66.532M ▼ $201.794M ▲ $744.015M ▲ $608.753M ▲
Q4-2024 $100.698M ▼ $161.742M ▲ $0 $-91.217M ▼ $70.525M ▲ $161.742M ▲
Q3-2024 $119.538M $-153.595M $0 $8.869M $-144.726M $-153.595M

Five-Year Company Overview

Income Statement

Income Statement Earnings are consistently positive and margins look strong, which is encouraging for a lender. Revenue has been fairly steady over the past few years, with one weaker year in the middle and then a recovery. That same pattern shows up in profit and earnings per share: very strong a few years ago, a sharp dip, and then a rebound to healthy but not record levels. This tells you the core business model works, but reported earnings can be quite swingy from year to year as markets and credit conditions move around.

Balance Sheet

Balance Sheet The balance sheet looks solid and relatively steady. Total assets and shareholder equity have inched up over time, which suggests slow but stable growth. Debt levels are meaningful but not out of line for a business development company, and management appears to be running with moderate, controlled leverage. Cash has bounced around, but there is no obvious sign of stress: the firm looks funded in a way that fits its role as a specialized lender rather than a cash‑rich operating company.

Cash Flow

Cash Flow Cash flow is lumpy, which is typical for a lender that is actively putting money to work and then being repaid. A few years ago, the company was a heavy net deployer of capital, which showed up as large cash outflows. More recently, cash flow from operations has turned positive, but at a more modest level than the peak year. With essentially no spending on physical assets, swings in cash are mainly about the pace of new loans versus repayments, not about big investments in equipment or facilities.

Competitive Edge

Competitive Edge OTF operates in a focused niche: lending to larger, mostly software-driven technology companies. Its main edge comes from scale, deep relationships with hundreds of private equity sponsors, and its connection to the broader Blue Owl Capital platform. Being one of the largest technology‑focused business development companies gives it the ability to lead large, complex financings and to see more deals than smaller rivals. The portfolio is heavily tilted to senior, secured loans, which can help with downside protection. The flip side is concentration risk: the business depends on the health of the U.S. tech and private equity ecosystems and faces ongoing competition from other private credit providers and banks targeting the same borrowers.

Innovation and R&D

Innovation and R&D Instead of traditional research labs, OTF’s “innovation” lives in its lending strategy and data use. It specializes in understanding software and technology business models, especially those built on recurring revenue, and applies a data‑driven underwriting process informed by thousands of evaluated transactions across the Blue Owl platform. The firm was early in building a dedicated tech‑focused BDC and is now leaning into areas like AI infrastructure, where demand for financing is growing quickly. This focus can be a meaningful advantage, but it also means OTF must stay disciplined as it moves into hotter segments of the market where excitement can sometimes run ahead of fundamentals.

Summary

Overall, OTF looks like a specialized lender with a clear niche, strong historical profitability, and a balance sheet that seems appropriate for its strategy. Its advantages come from focus, scale, and relationships, rather than from owning hard assets or proprietary technology. The main opportunities are continued growth in technology and AI‑related financing, using its platform to win larger and more frequent deals. The main risks are earnings volatility, sector concentration in technology, credit quality if conditions worsen, and the usual challenges that come with operating as an externally managed business development company. For anyone following OTF, the key things to watch are credit performance in its loan book, how it navigates shifts in interest rates, and whether it can grow without stretching its risk standards.

NEWS

November 5, 2025 · 4:42 PM UTC

Blue Owl Technology Finance Corp. Announces September 30, 2025 Financial Results

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November 5, 2025 · 4:36 PM UTC

Blue Owl Technology Finance Corp. Announces Amended Lock-Up Release Schedule

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October 1, 2025 · 8:30 AM UTC

Blue Owl Technology Finance Corp. Schedules Earnings Release and Quarterly Earnings Call to Discuss its Third Quarter Ended September 30, 2025 Financial Results

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September 3, 2025 · 8:30 AM UTC

Blue Owl Technology Finance Corp. Announces Partial Early Lock-Up Release

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