OBDC FY 2018 Earnings Report — Blue Owl Capital Corporation Revenue & Financial Results | Market Cap Arena

Blue Owl Capital CorporationOBDC

FY 2018 Earnings

Reported February 27, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2018	Prior Q	FY 2017	QoQ Change	YoY Change
Revenue	$293M	—	$139M	—	111.5%
Op. Income	$203M	—	$104M	—	95.7%
Gross Margin	75.7%	—	84.2%	—	-8.5pp
Net Margin	68.9%	—	74.8%	—	-5.8pp
EPS (Diluted)	$1.49	—	$0.40	—	272.5%
Free Cash Flow	-$3.2B	—	-$1.3B	—	-137.6%

Revenue Flow

Item	Amount
REVENUE	$293M
Cost of Revenue	$71M
GROSS PROFIT	$222M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$13M
SG&A Expenses	$13M
Other Expenses	$5M
Operating Expenses	$19M
Cost & Expenses	$90M
OPERATING INCOME	$203M
Interest Income	$367M
Interest Expense	$71M
Other Income/Expenses	$0
INCOME BEFORE TAX	$203M
Income Tax Expense	$1M
Net Income from Continuing Ops	$202M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$202M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$202M
D&A	$0
EBIT	$203M
EBITDA	$203M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$293M
Cost of Revenue	$71M
GROSS PROFIT	$222M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$13M
SG&A Expenses	$13M
Other Expenses	$5M
Operating Expenses	$19M
Cost & Expenses	$90M
OPERATING INCOME	$203M
Interest Income	$367M
Interest Expense	$71M
Other Income/Expenses	$0
INCOME BEFORE TAX	$203M
Income Tax Expense	$1M
Net Income from Continuing Ops	$202M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$202M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$202M
D&A	$0
EBIT	$203M
EBITDA	$203M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$202M
Depreciation & Amortization	-$24M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	-$3.4B
Change in Working Capital	$14M
OPERATING CASH FLOW	-$3.2B
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$4.7B
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	$0
Net Debt Issuance	$1.7B
Common Stock Repurchased	$0
Common Dividends Paid	-$90M
Other Financing Activities	$1.7B
NET CASH FROM FINANCING	$3.3B
FREE CASH FLOW	-$3.2B
Net Change in Cash	$108M

Balance Sheet

Item	Amount
Cash & Equivalents	$122M
Short-Term Investments	$0
Net Receivables	$38M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$161M
PP&E (Net)	$0
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$87M
Tax Assets	$0
Other Non-Current Assets	$5.7B
TOTAL NON-CURRENT ASSETS	$5.8B
TOTAL ASSETS	$6.0B
Account Payables	$82M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$903M
TOTAL CURRENT LIABILITIES	$82M
Long-Term Debt	$2.6B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$37M
TOTAL NON-CURRENT LIABILITIES	$2.6B
TOTAL LIABILITIES	$2.7B
Common Stock	$2M
Additional Paid-In Capital	$3.3B
Retained Earnings	-$8M
Treasury Stock	$0
Accum. Other Comp. Income	-$8M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.3B
Minority Interest	$0
TOTAL EQUITY	$3.3B
TOTAL LIABILITIES & EQUITY	$6.0B
Total Debt	$2.6B
Net Debt	$2.4B