Blue Owl Technology Finance Corp. (OTF) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+2236.7%

$223.27

vs $9.56 price

Levered DCF

$0.42

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

0.62

Distress zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
P/E	8.26×	10.89×	9.2×	184×	5.43×	27.15×
P/B	0.74×	0.96×	0.96×	0.98×	0.94×	2.23×
P/S	5.55×	6.47×	5.78×	18.93×	6.21×	19.59×
EV / EBITDA	16.8×	11.92×	10.4×	41.1×	11.42×	31.13×
Gross margin	72.6%	65.8%	68.3%	28.4%	84.3%	79.9%
Operating margin	67.9%	61.6%	64.4%	15.3%	80.0%	71.7%
Net margin	67.1%	59.5%	62.8%	10.8%	79.1%	71.7%
Current ratio	0×	2.46×	5.14×	4.25×	3.51×	0×
Debt / equity	0.78×	0.8×	0.83×	0.93×	0.75×	1.08×
Interest coverage	2.27×	1.8×	2.03×	0.21×	5.09×	3.57×
Dividend yield	6.6%	6.6%	6.1%	4.1%	2.5%	1.5%
Payout ratio	54.7%	72.0%	56.5%	717.5%	19.6%	40.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Return on equity	9.0%	8.8%	10.5%	0.6%	12.0%	8.2%
Return on invested capital	860.9%	4.8%	5.6%	0.3%	6.8%	115.3%
Return on assets	4.9%	4.7%	5.5%	0.3%	6.8%	3.9%
Free cash flow yield	15.5%	6.4%	20.9%	-8.9%	-78.5%	1.8%
Earnings yield	12.1%	9.2%	10.9%	0.6%	12.7%	3.7%
Enterprise value	$12.2B	$6.1B	$5.9B	$6.3B	$5.9B	$4.9B
Net debt / EBITDA	8.63×	5.17×	4.39×	19.31×	4.93×	9.8×
Cash conversion cycle (days)	28	-214	-167	-72	-156	38