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Side-by-side financial comparison of BLUE OWL CAPITAL INC. (OWL) and PEGASYSTEMS INC (PEGA). Click either name above to swap in a different company.
BLUE OWL CAPITAL INC. is the larger business by last-quarter revenue ($755.6M vs $430.0M, roughly 1.8× PEGASYSTEMS INC). PEGASYSTEMS INC runs the higher net margin — 7.6% vs 6.3%, a 1.3% gap on every dollar of revenue. On growth, BLUE OWL CAPITAL INC. posted the faster year-over-year revenue change (19.7% vs -9.6%). BLUE OWL CAPITAL INC. produced more free cash flow last quarter ($359.1M vs $206.5M). Over the past eight quarters, BLUE OWL CAPITAL INC.'s revenue compounded faster (21.3% CAGR vs 10.7%).
Blue Owl Capital Inc. is an American alternative investment asset management company that is listed on the New York Stock Exchange under the ticker symbol: "OWL". Headquartered in New York City, it has additional offices around the world, including London, Dubai, and Hong Kong.
Pegasystems Inc. (Pega) is a global software company based in Waltham, Massachusetts, in the United States, and founded in 1983. The company has been publicly traded since 1996 as PEGA (NASDAQ). Pega is a low-code platform for workflow automation and generative AI-powered decision-making for businesses.
OWL vs PEGA — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $755.6M | $430.0M |
| Net Profit | $47.7M | $32.8M |
| Gross Margin | — | 75.2% |
| Operating Margin | 22.2% | 8.6% |
| Net Margin | 6.3% | 7.6% |
| Revenue YoY | 19.7% | -9.6% |
| Net Profit YoY | 129.8% | — |
| EPS (diluted) | $0.07 | $0.18 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $430.0M | ||
| Q4 25 | $755.6M | $504.3M | ||
| Q3 25 | $728.0M | $381.4M | ||
| Q2 25 | $703.1M | $384.5M | ||
| Q1 25 | $683.5M | $475.6M | ||
| Q4 24 | $631.4M | $490.8M | ||
| Q3 24 | $600.9M | $325.1M | ||
| Q2 24 | $549.8M | $351.2M |
| Q1 26 | — | $32.8M | ||
| Q4 25 | $47.7M | $234.6M | ||
| Q3 25 | $6.3M | $43.4M | ||
| Q2 25 | $17.4M | $30.1M | ||
| Q1 25 | $7.4M | $85.4M | ||
| Q4 24 | $20.7M | $119.1M | ||
| Q3 24 | $29.8M | $-14.4M | ||
| Q2 24 | $33.9M | $6.6M |
| Q1 26 | — | 75.2% | ||
| Q4 25 | — | 79.5% | ||
| Q3 25 | — | 72.2% | ||
| Q2 25 | — | 71.5% | ||
| Q1 25 | — | 78.5% | ||
| Q4 24 | — | 79.1% | ||
| Q3 24 | — | 70.2% | ||
| Q2 24 | — | 72.4% |
| Q1 26 | — | 8.6% | ||
| Q4 25 | 22.2% | 20.7% | ||
| Q3 25 | 7.6% | 3.8% | ||
| Q2 25 | 12.0% | 4.5% | ||
| Q1 25 | 5.9% | 26.7% | ||
| Q4 24 | 11.7% | 29.1% | ||
| Q3 24 | 18.7% | -3.6% | ||
| Q2 24 | 28.4% | 3.7% |
| Q1 26 | — | 7.6% | ||
| Q4 25 | 6.3% | 46.5% | ||
| Q3 25 | 0.9% | 11.4% | ||
| Q2 25 | 2.5% | 7.8% | ||
| Q1 25 | 1.1% | 18.0% | ||
| Q4 24 | 3.3% | 24.3% | ||
| Q3 24 | 5.0% | -4.4% | ||
| Q2 24 | 6.2% | 1.9% |
| Q1 26 | — | $0.18 | ||
| Q4 25 | $0.07 | $0.81 | ||
| Q3 25 | $0.01 | $0.24 | ||
| Q2 25 | $0.02 | $0.17 | ||
| Q1 25 | $0.00 | $0.91 | ||
| Q4 24 | $0.06 | $1.35 | ||
| Q3 24 | $0.04 | $-0.17 | ||
| Q2 24 | $0.06 | $0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $194.5M | $270.0M |
| Total DebtLower is stronger | $3.3B | — |
| Stockholders' EquityBook value | $2.2B | $705.9M |
| Total Assets | $12.5B | $1.6B |
| Debt / EquityLower = less leverage | 1.51× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $270.0M | ||
| Q4 25 | $194.5M | $425.8M | ||
| Q3 25 | $137.3M | $351.4M | ||
| Q2 25 | $117.6M | $411.6M | ||
| Q1 25 | $97.6M | $371.7M | ||
| Q4 24 | $152.1M | $740.0M | ||
| Q3 24 | $115.9M | $703.0M | ||
| Q2 24 | $436.8M | $665.1M |
| Q1 26 | — | — | ||
| Q4 25 | $3.3B | — | ||
| Q3 25 | $3.2B | — | ||
| Q2 25 | $3.2B | — | ||
| Q1 25 | $3.2B | — | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | $2.5B | — | ||
| Q2 24 | $2.5B | — |
| Q1 26 | — | $705.9M | ||
| Q4 25 | $2.2B | $787.4M | ||
| Q3 25 | $2.3B | $596.8M | ||
| Q2 25 | $2.4B | $624.5M | ||
| Q1 25 | $2.3B | $611.3M | ||
| Q4 24 | $2.1B | $585.5M | ||
| Q3 24 | $2.0B | $473.0M | ||
| Q2 24 | $1.7B | $435.4M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $12.5B | $1.6B | ||
| Q3 25 | $12.5B | $1.3B | ||
| Q2 25 | $12.3B | $1.3B | ||
| Q1 25 | $12.3B | $1.3B | ||
| Q4 24 | $11.0B | $1.8B | ||
| Q3 24 | $10.8B | $1.6B | ||
| Q2 24 | $9.7B | $1.5B |
| Q1 26 | — | — | ||
| Q4 25 | 1.51× | — | ||
| Q3 25 | 1.41× | — | ||
| Q2 25 | 1.38× | — | ||
| Q1 25 | 1.37× | — | ||
| Q4 24 | 1.22× | — | ||
| Q3 24 | 1.27× | — | ||
| Q2 24 | 1.41× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $382.9M | — |
| Free Cash FlowOCF − Capex | $359.1M | $206.5M |
| FCF MarginFCF / Revenue | 47.5% | 48.0% |
| Capex IntensityCapex / Revenue | 3.1% | — |
| Cash ConversionOCF / Net Profit | 8.03× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.2B | $494.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $382.9M | $158.4M | ||
| Q3 25 | $433.1M | $56.3M | ||
| Q2 25 | $422.5M | $86.3M | ||
| Q1 25 | $17.6M | $204.2M | ||
| Q4 24 | $324.0M | $95.2M | ||
| Q3 24 | $326.0M | $30.5M | ||
| Q2 24 | $302.3M | $40.1M |
| Q1 26 | — | $206.5M | ||
| Q4 25 | $359.1M | $152.4M | ||
| Q3 25 | $422.5M | $51.8M | ||
| Q2 25 | $412.5M | $84.1M | ||
| Q1 25 | $4.2M | $202.3M | ||
| Q4 24 | $310.1M | $92.4M | ||
| Q3 24 | $314.8M | $27.4M | ||
| Q2 24 | $269.4M | $38.8M |
| Q1 26 | — | 48.0% | ||
| Q4 25 | 47.5% | 30.2% | ||
| Q3 25 | 58.0% | 13.6% | ||
| Q2 25 | 58.7% | 21.9% | ||
| Q1 25 | 0.6% | 42.5% | ||
| Q4 24 | 49.1% | 18.8% | ||
| Q3 24 | 52.4% | 8.4% | ||
| Q2 24 | 49.0% | 11.1% |
| Q1 26 | — | — | ||
| Q4 25 | 3.1% | 1.2% | ||
| Q3 25 | 1.5% | 1.2% | ||
| Q2 25 | 1.4% | 0.6% | ||
| Q1 25 | 2.0% | 0.4% | ||
| Q4 24 | 2.2% | 0.6% | ||
| Q3 24 | 1.9% | 0.9% | ||
| Q2 24 | 6.0% | 0.4% |
| Q1 26 | — | — | ||
| Q4 25 | 8.03× | 0.68× | ||
| Q3 25 | 68.64× | 1.30× | ||
| Q2 25 | 24.25× | 2.87× | ||
| Q1 25 | 2.37× | 2.39× | ||
| Q4 24 | 15.62× | 0.80× | ||
| Q3 24 | 10.94× | — | ||
| Q2 24 | 8.91× | 6.06× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
OWL
| Credit Platform | $455.0M | 60% |
| GP Strategic Capital Platform | $157.0M | 21% |
| Administrative Service | $87.6M | 12% |
| IPI Partners LLC | $33.8M | 4% |
| Other | $22.2M | 3% |
PEGA
| Pega Cloud | $205.0M | 48% |
| Subscription license | $94.9M | 22% |
| Maintenance | $75.3M | 18% |
| Consulting | $54.8M | 13% |
