Blue Owl Capital Corporation (OBDC) — Dividend Yield, NAV & Valuation Analysis
OBDC · NYSE
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Overview
Blue Owl Capital Corporation (formerly Owl Rock Capital Corporation) is one of the largest BDCs, formed through the merger of Owl Rock and Dyal Capital. OBDC focuses on senior secured first lien loans to upper middle-market companies. Backed by Blue Owl's massive institutional platform, OBDC offers a defensive portfolio weighted toward senior secured debt with significant scale advantages.
Key Metrics
| Metric | Value |
|---|---|
| 1-Year Total Return | 11.8% |
| 3-Year Total Return | 28.5% |
| 5-Year Total Return | 44.5% |
| Expense Ratio | 7.8% |
| Leverage Ratio | 1.15x |
| Portfolio Companies | 180 |
| Total Assets | $13.5B |
Discount / Premium to NAV
| Stock Price | $15.2 |
| NAV per Share | $14.85 |
| Premium / (Discount) to NAV | 2.4% |
| Implied per-share NAV gap | $-0.35 |
The premium / discount to NAV compares the current stock price to the per-share net asset value of Blue Owl Capital Corporation's investment portfolio. A negative reading (a discount) means the market is pricing OBDC below the value of its underlying assets and is one of the most-watched valuation metrics for any BDC. A positive reading (a premium) means the market is paying a premium over the stated NAV, often reflecting confidence in future dividend coverage and portfolio credit quality. Blue Owl Capital Corporation currently trades at a 2.4% premium to NAV.
Investment Strategy
Blue Owl Capital Corporation focuses on senior secured loans, first lien loans in the software, technology, healthcare, business services sectors. The company targets middle-market companies and maintains a portfolio of 180 investments totaling $13.5B in assets.
Management
CEO: Craig W. Packer | Employees: 85
Suitability
OBDC is suitable for income-focused investors seeking quarterly dividend income with a 9.5% yield. The BDC's focus on senior secured loans provides defensive portfolio characteristics. Investors should consider their risk tolerance and investment objectives before investing.