OTF
Blue Owl Technology Finance Corp.
Next earnings Aug 3, 2026 · consensus $0.32 EPS, $349M rev
Last earnings +1.0% on 2026-07-01
$10.46
▲ +0.97%$10.46▼ -24.06%
over 1Y
L $10.22H $14.42
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+1.0%
1W+2.0%
1M-5.3%
3M-9.0%
YTD-23.9%
1Y-24.1%
Buy
Conviction
Horizon
Medium (3–12mo)
12-mo target
$•••
Street · 14 analysts
Buy
Newly-listed tech-lending BDC trading well below book value with a big dividend and strong FY25 net income.
Net income $720M · FY2025
The read
Quality fundamentals and an attractive price line up (~452% below fair value) — the rarer case where both the business and the entry look good.
Blue Owl Technology Finance Corp. is a business development company (BDC) within Blue Owl's $157.8 billion Credit platform, originating senior secured, subordinated and mezzanine loans plus equity-linked securities to US software/technology companies. It listed on the NYSE on June 12, 2025, and FY2025 was transformational: net income surged 125.7% to $720M while total assets, equity and share count all roughly doubled (equity +121.8% to $8.04B; shares +118.2% to 465M), reflecting a major combination/scale-up of the platform.
The most compelling feature is valuation. With $8.04B of equity across 465M shares, net asset value is roughly $17 per share, yet the stock trades at just $10.66 — a steep discount to book that is unusual for a performing direct-lending BDC and offers a margin of safety plus an elevated dividend yield (the company paid $394M in dividends, +71.2%). The 7.0x P/E and 9.0% ROE are reasonable for the asset class, and leverage is conservative for a BDC at 0.83x liabilities/equity.
Is OTF a buy? The one-page verdict, explained →
The options angle
model · matches our verdictBull call spread~60d expiry
- Long call 10.5 @ ~0.53 est
- Short call 11.5 @ ~0.19 est
debit $34max +$66max −$34BE 10.84
BUY verdict with defined risk: the short call finances part of the long one; max loss is the net debit.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| Net income | $425M | $19.0M | $369M | $319M | $720M |
| Diluted EPS | $3.05 | $0.09 | $1.80 | $1.52 | — |
| Net margin | — | — | — | — | — |
10-year statements — income, cash flow, balance sheet & CSV export →
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value—
EV / EBITDA—
EV / Sales—
EV / FCF—
P / FCF—
PEG (trailing)0.05
Earnings yield14.9%
FCF yield—
Quality & risk
ROIC (est.)—
Free cash flow—
Total debt$6.29B
Net cash-$6.01B
Piotroski F-Score3/6
Capital returns
Buyback yield1.5%
Dividend yield (est.)8.1%
Shareholder yield9.7%
Shares Δ YoY+118.2%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRoutine disclosure cadence — no material red flags in recent filings.
Recent filings
all on EDGAR ↗8-KPeriod ending 2026-07-012026-07-01open ↗8-KPeriod ending 2026-06-252026-06-26open ↗40-33Filing2026-06-26open ↗8-KPeriod ending 2026-06-162026-06-22open ↗40-33Filing2026-06-12open ↗8-KPeriod ending 2026-06-022026-06-05open ↗424B2Filing2026-06-03open ↗497ADFiling2026-06-03open ↗497ADFiling2026-06-03open ↗497ADFiling2026-06-03open ↗FWPFiling2026-06-02open ↗497ADFiling2026-06-02open ↗
Frequently asked
- Is Blue Owl Technology Finance Corp. (OTF) a buy?
- OTF currently carries a Buy rating with 3/5 conviction, derived from its latest SEC filings. Newly-listed tech-lending BDC trading well below book value with a big dividend and strong FY25 net income.
- What is OTF's fair value?
- A Modified-Graham model based on OTF's SEC fundamentals estimates a fair value of about $57.76. It is an estimate from reported earnings, not a price target.
- Is OTF overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, OTF currently appears undervalued relative to its SEC-grounded earnings power.
- What is Blue Owl Technology Finance Corp.'s quality score?
- OTF scores 74.9045571838658/100 (grade B) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001747777, latest 10-Q filed 2026-05-06) · EODHD · Proprietary analysis · as of 6/21/2026, 8:59:17 PM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 21, 2026, 4:59 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.