Blue Owl Capital Inc. · NYSE:OWL
Blue Owl Capital — Blue Owl Capital Corporation II — Q4 2024 Earnings Presentation
15 slides from Blue Owl Capital's earnings presentation, March 2025
Slide 1: Blue Owl Capital Corporation II Quarterly Earnings Presentation
December 31, 2024 Blue Owl Capital Corporation II Quarterly Earnings Presentation FOR EXISTING INVESTORS ONLY. OBDC II IS CLOSED TO NEW INVESTMENTS. 1
Slide 2: Review of Q4 2024
Review of Q4 2024 • Net asset value per share of $8.80, down from $8.84 as of 9/30/2024 • Net investment income per share of $0.22, up from $0.17 as of 9/30/2024 • Net income per share of $0.16, up from $0.13 as of 9/30/2024 Earnings Summary • Annualized ROE on net investment income and net income o
Slide 3: Financial Highlights
Financial Highlights (Dollar amounts in thousands, except per share data; per share data is based on weighted average shares outstanding during the period, except as otherwise noted) Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Net Investment Income Per Share $0.22 $0.21 $0.20 $0.17 $0.22 Net Realized an
Slide 4: Portfolio Highlights
Portfolio Highlights As of (Dollar amounts in thousands) December 31, 2023 March 31, 2024 June 30, 2024 September 30, 2024 December 31, 2024 Investments at Fair Value $2,045,864 $1,990,298 $2,047,602 $2,051,865 $1,935,392 Number of Portfolio Companies 159 167 176 183 182 Average Investment Size of O
Slide 5: Portfolio Highlights – New Portfolio Activity
Portfolio Highlights – New Portfolio Activity (Dollar amounts in thousands) For Three Months Ended December 31, 2023 March 31, 2024 June 30, 2024 September 30, 2024 December 31, 2024 Investment Activity at Par: New Investment Commitments (Net of Sell Downs) $187,110 $198,690 $441,770 $163,595 $125,
Slide 6: Portfolio Highlights – Asset Mix
Portfolio Highlights – Asset Mix $1.9bn 182 30 $186mm 11.3% Portfolio Portfolio Portfolio Company Portfolio Size Debt Portfolio Yield2 Companies Industries EBITDA1 <1% Weighted Average Borrower Statistics1: 6% 3% 2% Q3 2024 Q4 2024 10% Revenue $822mm $875mm 89% Senior Secured EBITDA $177mm $186mm Ne
Slide 7: Portfolio Highlights – Diversification
Portfolio Highlights – Diversification Borrower Diversification Industry Diversification Internet software and services 10.1% Inovalon: 3.5% Associa: 3.5% Food and beverage 8.4% Weiman Products: 2.5% Sonny’s: 2.4% Moore: 2.4% Manufacturing 8.1% Winland Foods: 2.3% Mavis Tire: 2.2% Healthcare technol
Slide 8: Portfolio Highlights – Internal Portfolio Ratings
Portfolio Highlights – Internal Portfolio Ratings Non-accrual investments at 12/31/2024 as a percentage of total portfolio at cost and fair value were 1.5% and 0.2%, respectively. At quarter end 12/31/2024 there were 3 portfolio companies on non-accrual. (Dollar amounts in thousands) Internal March
Slide 9: Quarterly Statements of Financial Condition
Quarterly Statements of Financial Condition As of (Dollar amounts in thousands, except per share data; per share data is December 31, 2023 March 31, 2024 June 30, 2024 September 30, 2024 December 31, 2024 based period end shares, except as otherwise noted) Assets Investments at Fair Value $2,045,864
Slide 10: Quarterly Operating Results Detail
Quarterly Operating Results Detail For the Three Months Ended (Dollar and share amounts in thousands) December 31, 2023 March 31, 2024 June 30, 2024 September 30, 2024 December 31, 2024 Investment Income Interest Income $64,726 $60,315 $59,299 $59,839 $56,437 Dividend Income $4,498 $5,140 $3,600 $3,
Slide 11: OBDC II Debt Obligations and Maturity Ladder
OBDC II Debt Obligations and Maturity Ladder Aggregate Principal Amount Principal Committed / Amount Outstanding Outstanding Interest Rate Maturity Date Debt Maturities ($mm)3 Revolving Credit $510 $250 million $50 million SOFR + 200 1/12/2029 Facility SPV Asset Facility I $375 million $195 million
Slide 12: OBDC II Dividend History
OBDC II Dividend History Total Dividend Per Total Dividend Per Date Declared Dividend Type Share Date Declared Dividend Type Share 2/27/2019 Weekly Distributions for Aor. 2019 – Jun. 2019 $0.17 11/1/2022 Additional Quarterly Distribution for Dec. 2022 $0.02 5/8/2019 Weekly Distributions for Jul. 2
Slide 13: Risk Factors
Risk Factors An investment in Blue Owl Capital Corporation II (“OBDC II”) is speculative and involves a high degree of risk, including the risk of a substantial loss of investment, as well as substantial fees and costs, all of which can impact an investor's return. The following are some of the risk
Slide 14: Important Information
Important Information Unless otherwise noted the Report Date referenced herein is as of 12/31/24. Past performance is not a guarantee of future results. The information contained in this presentation should be viewed in conjunction with the Company’s most recently-filed Quarterly Report on Form 10-Q
Slide 15: Slide 15
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