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Side-by-side financial comparison of BLUE OWL CAPITAL INC. (OWL) and PJT Partners Inc. (PJT). 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 $531.4M, roughly 1.4× PJT Partners Inc.). PJT Partners Inc. runs the higher net margin — 10.0% vs 6.3%, a 3.7% gap on every dollar of revenue. On growth, BLUE OWL CAPITAL INC. posted the faster year-over-year revenue change (19.7% vs 12.9%). BLUE OWL CAPITAL INC. produced more free cash flow last quarter ($359.1M vs $138.6M). Over the past eight quarters, PJT Partners Inc.'s revenue compounded faster (27.5% CAGR vs 21.3%).
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.
PJT Partners, Inc. is a global advisory-focused investment bank, founded in October 2015 as part of The Blackstone Group's spin-off of its financial and strategic advisory services businesses.
OWL vs PJT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $755.6M | $531.4M |
| Net Profit | $47.7M | $53.4M |
| Gross Margin | — | — |
| Operating Margin | 22.2% | 23.1% |
| Net Margin | 6.3% | 10.0% |
| Revenue YoY | 19.7% | 12.9% |
| Net Profit YoY | 129.8% | 4.0% |
| EPS (diluted) | $0.07 | — |
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.
| Q4 25 | $755.6M | $531.4M | ||
| Q3 25 | $728.0M | $442.3M | ||
| Q2 25 | $703.1M | $401.1M | ||
| Q1 25 | $683.5M | $321.9M | ||
| Q4 24 | $631.4M | $470.5M | ||
| Q3 24 | $600.9M | $320.3M | ||
| Q2 24 | $549.8M | $358.1M | ||
| Q1 24 | $513.3M | $327.1M |
| Q4 25 | $47.7M | $53.4M | ||
| Q3 25 | $6.3M | $39.8M | ||
| Q2 25 | $17.4M | $32.9M | ||
| Q1 25 | $7.4M | $54.0M | ||
| Q4 24 | $20.7M | $51.3M | ||
| Q3 24 | $29.8M | $22.1M | ||
| Q2 24 | $33.9M | $28.3M | ||
| Q1 24 | $25.1M | $32.6M |
| Q4 25 | 22.2% | 23.1% | ||
| Q3 25 | 7.6% | 20.6% | ||
| Q2 25 | 12.0% | 19.1% | ||
| Q1 25 | 5.9% | 16.3% | ||
| Q4 24 | 11.7% | 21.9% | ||
| Q3 24 | 18.7% | 15.4% | ||
| Q2 24 | 28.4% | 18.0% | ||
| Q1 24 | 24.7% | 16.5% |
| Q4 25 | 6.3% | 10.0% | ||
| Q3 25 | 0.9% | 9.0% | ||
| Q2 25 | 2.5% | 8.2% | ||
| Q1 25 | 1.1% | 16.8% | ||
| Q4 24 | 3.3% | 10.9% | ||
| Q3 24 | 5.0% | 6.9% | ||
| Q2 24 | 6.2% | 7.9% | ||
| Q1 24 | 4.9% | 10.0% |
| Q4 25 | $0.07 | — | ||
| Q3 25 | $0.01 | — | ||
| Q2 25 | $0.02 | — | ||
| Q1 25 | $0.00 | — | ||
| Q4 24 | $0.06 | — | ||
| Q3 24 | $0.04 | — | ||
| Q2 24 | $0.06 | — | ||
| Q1 24 | $0.04 | — |
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 | $538.9M |
| Total DebtLower is stronger | $3.3B | — |
| Stockholders' EquityBook value | $2.2B | $308.2M |
| Total Assets | $12.5B | $1.8B |
| Debt / EquityLower = less leverage | 1.51× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $194.5M | $538.9M | ||
| Q3 25 | $137.3M | $400.5M | ||
| Q2 25 | $117.6M | $214.6M | ||
| Q1 25 | $97.6M | $194.3M | ||
| Q4 24 | $152.1M | $483.9M | ||
| Q3 24 | $115.9M | $148.8M | ||
| Q2 24 | $436.8M | $164.2M | ||
| Q1 24 | $155.8M | $215.5M |
| 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 24 | $2.1B | — |
| Q4 25 | $2.2B | $308.2M | ||
| Q3 25 | $2.3B | $228.6M | ||
| Q2 25 | $2.4B | $167.4M | ||
| Q1 25 | $2.3B | $148.8M | ||
| Q4 24 | $2.1B | $187.0M | ||
| Q3 24 | $2.0B | $159.1M | ||
| Q2 24 | $1.7B | $133.8M | ||
| Q1 24 | $1.6B | $174.6M |
| Q4 25 | $12.5B | $1.8B | ||
| Q3 25 | $12.5B | $1.7B | ||
| Q2 25 | $12.3B | $1.5B | ||
| Q1 25 | $12.3B | $1.4B | ||
| Q4 24 | $11.0B | $1.6B | ||
| Q3 24 | $10.8B | $1.6B | ||
| Q2 24 | $9.7B | $1.4B | ||
| Q1 24 | $9.0B | $1.3B |
| 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× | — | ||
| Q1 24 | 1.26× | — |
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 | $155.7M |
| Free Cash FlowOCF − Capex | $359.1M | $138.6M |
| FCF MarginFCF / Revenue | 47.5% | 26.1% |
| Capex IntensityCapex / Revenue | 3.1% | 3.2% |
| Cash ConversionOCF / Net Profit | 8.03× | 2.92× |
| TTM Free Cash FlowTrailing 4 quarters | $1.2B | $480.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $382.9M | $155.7M | ||
| Q3 25 | $433.1M | $256.1M | ||
| Q2 25 | $422.5M | $190.4M | ||
| Q1 25 | $17.6M | $-75.9M | ||
| Q4 24 | $324.0M | $195.7M | ||
| Q3 24 | $326.0M | $180.5M | ||
| Q2 24 | $302.3M | $193.6M | ||
| Q1 24 | $47.2M | $-38.8M |
| Q4 25 | $359.1M | $138.6M | ||
| Q3 25 | $422.5M | $240.9M | ||
| Q2 25 | $412.5M | $178.9M | ||
| Q1 25 | $4.2M | $-77.9M | ||
| Q4 24 | $310.1M | $195.3M | ||
| Q3 24 | $314.8M | $178.5M | ||
| Q2 24 | $269.4M | $193.0M | ||
| Q1 24 | $41.1M | $-39.2M |
| Q4 25 | 47.5% | 26.1% | ||
| Q3 25 | 58.0% | 54.5% | ||
| Q2 25 | 58.7% | 44.6% | ||
| Q1 25 | 0.6% | -24.2% | ||
| Q4 24 | 49.1% | 41.5% | ||
| Q3 24 | 52.4% | 55.7% | ||
| Q2 24 | 49.0% | 53.9% | ||
| Q1 24 | 8.0% | -12.0% |
| Q4 25 | 3.1% | 3.2% | ||
| Q3 25 | 1.5% | 3.4% | ||
| Q2 25 | 1.4% | 2.9% | ||
| Q1 25 | 2.0% | 0.6% | ||
| Q4 24 | 2.2% | 0.1% | ||
| Q3 24 | 1.9% | 0.6% | ||
| Q2 24 | 6.0% | 0.1% | ||
| Q1 24 | 1.2% | 0.1% |
| Q4 25 | 8.03× | 2.92× | ||
| Q3 25 | 68.64× | 6.43× | ||
| Q2 25 | 24.25× | 5.79× | ||
| Q1 25 | 2.37× | -1.41× | ||
| Q4 24 | 15.62× | 3.81× | ||
| Q3 24 | 10.94× | 8.15× | ||
| Q2 24 | 8.91× | 6.84× | ||
| Q1 24 | 1.88× | -1.19× |
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% |
PJT
Segment breakdown not available.
