OBDC FY 2019 Earnings Report — Blue Owl Capital Corporation Revenue & Financial Results | Market Cap Arena

Blue Owl Capital CorporationOBDC

FY 2019 Earnings

Reported February 19, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$582M	—	$293M	—	98.4%
Op. Income	$500M	—	$203M	—	145.9%
Gross Margin	78.5%	—	75.7%	—	2.8pp
Net Margin	85.6%	—	68.9%	—	16.6pp
EPS (Diluted)	$1.53	—	$1.49	—	2.7%
Free Cash Flow	$438M	—	-$3.2B	—	113.8%

Revenue Flow

Item	Amount
REVENUE	$582M
Cost of Revenue	$125M
GROSS PROFIT	$457M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$19M
SG&A Expenses	$19M
Other Expenses	-$62M
Operating Expenses	-$43M
Cost & Expenses	$82M
OPERATING INCOME	$500M
Interest Income	$692M
Interest Expense	$125M
Other Income/Expenses	$0
INCOME BEFORE TAX	$500M
Income Tax Expense	$2M
Net Income from Continuing Ops	$498M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$498M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$498M
D&A	$0
EBIT	$500M
EBITDA	$500M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$582M
Cost of Revenue	$125M
GROSS PROFIT	$457M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$19M
SG&A Expenses	$19M
Other Expenses	-$62M
Operating Expenses	-$43M
Cost & Expenses	$82M
OPERATING INCOME	$500M
Interest Income	$692M
Interest Expense	$125M
Other Income/Expenses	$0
INCOME BEFORE TAX	$500M
Income Tax Expense	$2M
Net Income from Continuing Ops	$498M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$498M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$498M
D&A	$0
EBIT	$500M
EBITDA	$500M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$498M
Depreciation & Amortization	$0
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	-$36M
Change in Working Capital	-$24M
OPERATING CASH FLOW	$438M
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$4.5B
Sales/Maturities of Investments	$1.5B
Other Investing Activities	$0
NET CASH FROM INVESTING	-$3.0B
Net Debt Issuance	$444M
Common Stock Repurchased	$0
Common Dividends Paid	-$221M
Other Financing Activities	$0
NET CASH FROM FINANCING	$2.7B
FREE CASH FLOW	$438M
Net Change in Cash	$190M

Balance Sheet

Item	Amount
Cash & Equivalents	$310M
Short-Term Investments	$0
Net Receivables	$69M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$397M
PP&E (Net)	$0
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$90M
Tax Assets	$0
Other Non-Current Assets	$8.7B
TOTAL NON-CURRENT ASSETS	$8.8B
TOTAL ASSETS	$9.2B
Account Payables	$137M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$137M
Long-Term Debt	$3.0B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$51M
TOTAL NON-CURRENT LIABILITIES	$3.1B
TOTAL LIABILITIES	$3.2B
Common Stock	$4M
Additional Paid-In Capital	$6.0B
Retained Earnings	$18M
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$6.0B
Minority Interest	$0
TOTAL EQUITY	$6.0B
TOTAL LIABILITIES & EQUITY	$9.2B
Total Debt	$3.0B
Net Debt	$2.7B