— Know what they know.
/
Not Investment Advice

BX

NYSE · USD
Blackstone Inc.
Financial Services · Asset Management
CEO Stephen Allen Schwarzman Employees 5,285 R&D / revenue 0.0%
Last price
$106.63−2.35%last session
Market cap
$122.7B
P/E (TTM)
23.7x
From 52w high
−35.4%
From 52w low
+4.8%
1-year return
−31.9%
RSI 14 · vs SMA200
30.9 · −15.3%
IS score
74.7/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

BX   SPY   XLF (sector ETF) · weekly closes
80100120Jan 26Apr 26Jul 26Oct 26SPY 116XLF 107BX 68

Score DNA

Each bar is a 0-100 score within the scored universe
87
Profitability
79
Growth
40
Value
99
Momentum
65
Risk (safety)
80
Quality
49
Balance sheet
91
Earnings quality

Flags

Strengths
✓ Insider buying✓ Congress buying
Warnings
▲ Share count rising
Observations
Moat model: Weak, Efficient ScalePiotroski 7 / 9Beta 1.564 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
10
$25.26M bought
Form 144 notices (12m): 5, $28.2M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
3
Last disclosed purchase 2026-04-13
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+22
181 new holders, 133 closed
2,135 filers hold 71.7% · 957 added, 720 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+318
1,112 funds adding shares
794 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
39.2%
20-day avg 42.8%, 50-day avg 51.8%
Latest 3.5 pp under its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$13.8B
Revenue growth YoY+21.6%
Gross margin86.0%
Operating income$7.2B
Operating margin51.9%
Net income$3.0B
Net margin21.8%
EPS (diluted)$3.88
Cash flow
Operating cash flow$1.9B
Capital expenditure$115.7M
Free cash flow$1.7B
FCF conversion (FCF / OCF)93.8%
Stock-based compensation$1.9B
FCF less SBC−$203.8M
Buybacks$312.5M
Dividends$6.0B
Balance sheet & returns
Cash & short-term investments$2.9B
Total debt$13.3B
Net debt$10.5B
Shareholders' equity$21.9B
Goodwill & intangibles$2.0B
Debt / equity1.56
ROE (TTM)40.9%
ROIC (TTM)136.7%
Operating margin by fiscal year
80.5%FY202146.5%FY202239.8%FY202356.8%FY202451.9%FY2025
Revenue $16.9B (FY2021) to $13.8B (FY2025), a -4.8% CAGR.

Valuation

P/E (TTM)23.7x
EV / EBITDA16.0x
Price / sales7.65x
Price / FCF27.8x
FCF yield3.60%
Buyback yield0.25%
SBC / revenue1.1%
Price / book9.27x
Forward P/E FY202618.0x
Forward P/E FY202714.4x
Forward P/E FY202813.1x
Forward multiples divide today's price by Street EPS estimates. Street mean target $140.00 across 9 analysts last quarter is theirs, not ours.

BX vs industry median

908 companies in Asset Management
Gross margin 88.8% 84.6% Operating margin 52.1% 34.7% Net margin 21.9% 18.2% ROIC 136.7% 6.4%
BX (TTM)Industry median Asset turnover 0.32 vs industry 0.11 · financial leverage 5.53

Earnings delivery

Next report 2026-10-22 · consensus EPS $1.28
83%
beat rate, 10 of 12 quarters
+9.9%
median EPS surprise
8
longest beat streak
-7+17+2-2+10+14+4+10+24+14+1+13
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-10-19 to 2026-07-23. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
BX Blackstone Inc. $122.7B23.7x40.9%21.9%+21.6% −31.9%
BLK BlackRock, Inc. $175.7B25.5x12.2%21.4%+24.7% −2.7%
BN Brookfield Corporation $81.7B65.2x3.0%1.8%+2.2% −16.3%
KKR KKR & Co. Inc. $77.4B25.7x10.6%12.4%+30.7% −26.5%
BAM Brookfield Asset Management $72.4B26.4x10.1%52.9%+26.5% −15.6%
APO Apollo Global Management, In $65.4B24.0x14.3%12.1%+34.6% —
STT State Street Corporation $45.5B13.3x12.4%18.0%+2.2% —
AMP Ameriprise Financial, Inc. $44.2B11.9x63.4%22.2%+9.0% —
12-month window: SPY +15.9%, sector ETF XLF +7.2%. Past returns describe history only.

Recent 8-K filings

2026-10-15Officer/Director Change
2026-09-22Regulation FD; Exhibits
2026-07-23Earnings Release; Exhibits
2026-06-23Regulation FD; Exhibits
2026-04-23Earnings Release; Exhibits
2026-03-24Regulation FD; Exhibits

Context

Shares outstanding750,625,114
Free float98.9%
Institutional ownership71.7%
Beta1.56
Dividend yield4.90%
Last dividend$1.29 on 2026-08-03
50 / 200-day average$128.73 / $126.48
Large-cap Financial Services median P/E14.0x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Weak).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where BX sits among 110 scored companies in Asset Management (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureBXIndustry medianIndustry percentileSector median
P/E (TTM) 34.9x 13.3x
86th		 11.9x
PEG (P/E ÷ 3-yr EPS CAGR) 0.88 0.88
50th		 1.04
Price / sales 7.6x 3.9x
86th		 2.5x
Price / book 13.6x 1.4x
95th		 1.3x
Price / tangible book 13.2x 1.4x
92nd		 1.6x
Price / free cash flow 27.8x 10.3x
83rd		 11.8x
Price / operating cash flow 27.1x 10.2x
86th		 11.7x
Enterprise value $134.3B $3.4B
94th		 $3.4B
EV / sales 8.4x 6.7x
60th		 6.0x
EV / EBITDA 16.0x 12.2x
67th		 13.0x
EV / EBIT 16.1x 14.4x
61st		 15.5x
EV / free cash flow 30.4x 11.6x
79th		 15.9x
Earnings yield 2.9% 5.7%
33rd		 7.9%
FCF yield 3.6% 8.3%
32nd		 6.3%
Operating cash flow yield 3.7% 8.6%
27th		 7.8%
Graham number (per share) $34.09 $27.85
61st		 $50.71

Profitability (TTM)

MeasureBXIndustry medianIndustry percentileSector median
Gross margin 88.8% 71.8%
89th		 71.9%
EBITDA margin 52.4% 39.3%
65th		 37.9%
Operating margin 52.1% 30.2%
77th		 23.3%
EBIT margin 52.1% 32.7%
70th		 23.3%
Net margin 21.9% 15.3%
60th		 18.7%
NOPAT margin 44.1% 23.0%
74th		 18.7%
FCF margin 27.5% 24.3%
52nd		 23.3%
Operating cash flow margin 28.2% 29.1%
48th		 26.7%
R&D / revenue 0.0% 0.0%
0th		 0.0%
SG&A / revenue 13.8% 9.8%
63rd		 20.1%
Stock comp / revenue 1.1% 0.0%
68th		 0.7%
Effective tax rate 15.4% 19.9%
41st		 21.0%

Returns on capital

MeasureBXIndustry medianIndustry percentileSector median
ROE (on average equity) 40.5% 11.2%
94th		 11.9%
ROA 7.4% 2.3%
71st		 1.4%
ROIC 34.4% 5.5%
93rd		 7.8%
ROCE 18.0% 4.9%
85th		 5.8%
Return on tangible assets 17.5% 4.7%
87th		 2.0%
Cash ROIC (OCF / invested capital) 22.0% 10.0%
73rd		 11.4%
Gross profitability (GP / assets) 28.6% 8.8%
90th		 10.3%
ROIC, 3-yr average 21.0% 5.6%
86th		 7.1%
ROIC, 5-yr average 22.2% 6.0%
88th		 7.3%
ROE, 5-yr average 33.2% 11.2%
96th		 10.7%
Incremental ROIC 263.8% 12.9%
98th		 8.4%

Growth

MeasureBXIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 28.6% 15.4%
63rd		 7.1%
Revenue growth (QoQ) 16.3% 6.6%
69th		 2.8%
Revenue CAGR, 3 yr 34.1% 13.1%
81st		 10.8%
Revenue CAGR, 5 yr 3.7% 5.8%
41st		 11.3%
Gross profit CAGR, 3 yr 31.6% 20.6%
73rd		 18.0%
Operating income CAGR, 3 yr 51.9% 12.7%
90th		 8.8%
Net income growth (TTM YoY) 22.9% 17.8%
54th		 24.7%
Net income CAGR, 3 yr 41.3% 9.1%
82nd		 9.4%
EPS growth (TTM YoY) 22.7% 14.5%
54th		 25.1%
EPS CAGR, 3 yr 39.8% 5.5%
85th		 7.3%
EPS CAGR, 5 yr -6.8% -5.9%
45th		 4.2%
FCF growth (TTM YoY) 34.6% 18.5%
64th		 15.9%
FCF CAGR, 3 yr 7.9% 8.1%
46th		 8.5%
Operating cash flow CAGR, 3 yr 6.2% 6.6%
48th		 8.4%
Book value CAGR, 3 yr 6.5% 3.6%
55th		 8.9%
Dividend CAGR, 3 yr 5.7% -1.2%
77th		 1.9%
Sustainable growth rate -33.0% 3.5%
2nd		 8.3%

Margin history & stability

MeasureBXIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 93.4% 63.7%
94th		 63.4%
Operating margin, 3-yr average 51.5% 33.3%
68th		 21.4%
Net margin, 3-yr average 22.3% 26.3%
44th		 16.5%
FCF margin, 3-yr average 32.5% 28.9%
55th		 28.2%
Revenue stability (0-1) 0.11 0.58
13th		 0.86
Earnings stability (0-1) 0.12 0.40
27th		 0.37
Margin stability (0-1) 0.96 0.80
93rd		 0.81

Liquidity (latest quarter)

MeasureBXIndustry medianIndustry percentileSector median
Cash & short-term investments $2.5B $142.5M
81st		 $145.5M
Net cash (− = net debt) −$11.5B −$692.3M
11th		 −$676.0M
Working capital −$285.2M $90.6M
12th		 $86.3M
Current ratio 0.92 1.16
36th		 1.19
Quick ratio 0.92 1.16
36th		 1.19
Cash ratio (cash + ST investments / current liabilities) 0.72 0.62
55th		 0.55
Defensive interval (days) 198 days 365 days
29th		 417 days

Leverage & solvency (latest quarter)

MeasureBXIndustry medianIndustry percentileSector median
Total debt $14.0B $1.3B
86th		 $1.2B
Debt / equity 1.56 0.99
82nd		 0.81
Net debt / equity 1.28 0.84
75th		 0.66
Debt / assets 28.1% 37.6%
39th		 33.5%
Debt / capital 60.9% 49.7%
82nd		 44.6%
Debt / EBITDA 1.67 4.80
26th		 3.20
Net debt / EBITDA 1.37 3.41
34th		 2.19
Interest coverage (EBIT / interest) 15.6x 2.6x
82nd		 2.9x
Cash interest coverage 8.4x 3.1x
72nd		 3.7x
Debt payback (years of OCF) 3.1 yrs 3.5 yrs
46th		 3.7 yrs
Liabilities / assets 55.0% 55.3%
47th		 86.2%
IS credit model rating A — —
Implied credit spread (bps) 150 475
15th		 175

Efficiency

MeasureBXIndustry medianIndustry percentileSector median
Asset turnover 0.34 0.12
82nd		 0.15
Fixed asset turnover 10.18 9.51
53rd		 11.68
Inventory turnover —
Receivables turnover 4.9 8.4
26th		 8.2
Days sales outstanding 75 days 37 days
76th		 43 days
Days inventory outstanding —
Days payables outstanding 0 days 49 days
0th		 39 days
Cash conversion cycle (days) 75 days −8 days
86th		 0 days
Capex / revenue 0.7% 0.0%
76th		 0.2%
Capex / depreciation 2.10 0.05
97th		 0.13
Operating expense ratio 36.8% 43.6%
38th		 38.9%

Cash flow & earnings quality

MeasureBXIndustry medianIndustry percentileSector median
Operating cash flow / net income 1.29 1.20
56th		 1.28
FCF / net income 1.25 0.99
57th		 1.15
FCF / operating cash flow 97.5% 99.6%
33rd		 98.5%
Capex / operating cash flow 2.5% 0.0%
71st		 0.6%
Accruals ratio -2.1% -1.4%
45th		 -2.0%
Sloan accruals ratio -18.1% -0.3%
6th		 -0.6%
Earnings quality score (0-1) 1.00 0.75
60th		 0.75

Dividends & buybacks

MeasureBXIndustry medianIndustry percentileSector median
Dividend yield 4.9% 6.6%
40th		 2.3%
Dividend per share (TTM) $5.23 $1.49
96th		 $1.03
Payout ratio (dividends / net income) 181.5% 67.8%
80th		 30.0%
Dividends / FCF 144.6% 52.7%
73rd		 49.0%
Dividend growth (YoY) 21.8% 6.9%
77th		 6.4%
Buyback yield 0.2% 1.0%
35th		 1.7%
Shareholder yield (dividends + buybacks) 5.4% 10.3%
24th		 5.2%
Share count change (YoY) 0.2% 0.0%
57th		 -0.3%
Buybacks, last 5 years $1.6B $40.9M
79th		 $85.3M

Scores & forensic checks

MeasureBXIndustry medianIndustry percentileSector median
IS score 75 45
89th		 53
IS profitability 87 60
83rd		 59
IS growth 79 53
95th		 57
IS value 40 66
19th		 77
IS momentum 99 59
86th		 76
IS risk (safety) 65 15
77th		 65
IS quality 80 64
88th		 71
IS balance sheet 49 42
62nd		 51
IS earnings quality 91 68
94th		 74
IS cash flow 82 69
71st		 71
Piotroski F-score (0-9) 7 6
74th		 6
Altman Z-score —
Beneish M-score —
Ohlson O-score −8.46 −7.13
24th		 −6.00
IS credit score 73 41
83rd		 68

Per share

MeasureBXIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $4.49 $1.19
74th		 $3.36
Book value per share $11.50 $16.24
34th		 $28.13
Tangible book per share $26.08 $13.69
82nd		 $21.49
Revenue per share $20.47 $4.23
76th		 $17.62
FCF per share $5.63 $1.85
74th		 $1.99
Operating cash flow per share $5.78 $2.62
74th		 $2.45
Cash per share $3.20 $1.06
65th		 $1.75

Size (TTM)

MeasureBXIndustry medianIndustry percentileSector median
Market cap $122.7B $3.1B
99th		 $2.5B
Revenue $16.0B $703.1M
89th		 $1.0B
EBITDA $8.4B $205.6M
92nd		 $269.3M
Net income $3.5B $151.7M
96th		 $168.0M
Free cash flow $4.4B $219.5M
94th		 $160.0M
Total assets $49.9B $2.9B
83rd		 $8.5B
Shareholders' equity $9.0B $1.2B
82nd		 $1.5B
Employees 5,285 1,700
74th		 1,392

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-09-23Blackstone Holdings Iv L.P.
10 percent owner
 Open-market buy 191,058$26.17$5.0M8,895,478
2026-09-23Blackstone Holdings Iv L.P.
10 percent owner
 Open-market buy 637$26.17$16,66229,399
2026-09-18Baratta Joseph
Director
 Open-market sale 42,246$123.35$5.2M829,353
2026-09-18Baratta Joseph
Director
 Open-market sale 57,754$124.13$7.2M771,599
2026-08-11Finley John G
Chief Legal Officer
 Open-market sale 19,802$146.80$2.9M541,215
2026-08-11Finley John G
Chief Legal Officer
 Open-market sale 25,198$147.36$3.7M516,017
2026-08-11Payne David
Chief Accounting Officer
 Open-market sale 9,500$145.23$1.4M64,448
2026-08-10Porat Ruth
Director
 Open-market buy 126$137.32$17,31241,944
2026-08-10Porat Ruth
Director
 Open-market buy 245$137.10$33,59242,189
2026-08-10Porat Ruth
Director
 Open-market buy 84$137.32$11,5419,031
2026-08-04Sawhney Vikrant
Chief Administrative Officer
 Open-market sale 18,408$135.29$2.5M881,261
2026-08-04Sawhney Vikrant
Chief Administrative Officer
 Open-market sale 11,592$135.96$1.6M869,669

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunAugSep

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Open-market buyAcquired10962,482$25.3M
Open-market saleDisposed9214,514$28.2M
OtherAcquired11,500$202,020
OtherDisposed11,500$202,020
—Disposed10—
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 5 notices · 214,514 shares · $28.2M
FiledFilerShares proposedEst. proceeds
2026-09-18Baratta Joseph100,000$12.4M
2026-08-11Payne David9,500$1.4M
2026-08-11Finley John G45,000$6.6M
2026-08-04Sawhney Vikrant30,000$4.1M
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 11 trades (4 purchases) · Senate 6 (3 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-04-13Mark WarnerSenatePurchase$1,001 - $15,0002026-05-01
2026-04-13Mark R. WarnerSenatePurchase$1,001 - $15,0002026-05-01
2026-03-27Alan ArmstrongSenatePurchase$1,001 - $15,0002026-07-20
2026-02-13Angus KingSenateSale$1,001 - $15,0002026-03-24
2026-01-29Ro KhannaHouseSale$1,001 - $15,0002026-02-10
2025-12-18Julie JohnsonHouseSale$1,001 - $15,0002026-01-16
2025-12-18Julie JohnsonHouseSale (Full)$1,001 - $15,0002026-01-16
2025-12-17Julie JohnsonHouseSale (Full)$1,001 - $15,0002026-01-16
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.51,943,245$6.1B6.92%
VANGUARD CAPITAL MANAGEMENT LLC48,510,319$5.7B6.46%
STATE STREET CORP32,463,609$3.8B4.32%
MORGAN STANLEY31,830,409$3.7B4.24%
GEODE CAPITAL MANAGEMENT, LLC18,366,521$2.2B2.45%
JPMORGAN CHASE & CO16,891,927$1.9B2.25%
VANGUARD PORTFOLIO MANAGEMENT LLC15,767,752$1.9B2.10%
Capital Research Global Investors13,195,066$1.6B1.76%
BANK OF AMERICA CORP /DE/11,594,914$1.4B1.54%
GOLDMAN SACHS GROUP INC8,738,575$1.0B1.16%
UBS Group AG7,284,122$857.1M0.97%
Capital World Investors6,935,655$816.1M0.92%
NORGES BANK6,719,504$790.7M0.90%
WELLS FARGO & COMPANY/MN6,396,724$752.7M0.85%
Clearbridge Investments, LLC5,912,077$695.7M0.79%

Institutional ownership by quarter

2023-092026-0671.7%
% of shares held by 13F filers
2023-092026-062,135
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-302,13571.7%181957720133
2026-03-312,11366.9%194914784310
2025-12-312,26165.3%294922746161
2025-09-302,17765.0%225928691106
2025-06-302,09074.3%173980661115
2025-03-312,06165.4%178889709187
2024-12-312,11265.3%30876974573
2024-09-301,90965.3%199750682107
2024-06-301,84063.4%142748661106
2024-03-311,82463.1%16170967197
2023-12-311,78963.9%25760870381
2023-09-301,64162.4%19662457796

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-04-29SCHEDULE 13GVanguard Capital Management7.5%55,917,468
2026-03-26SCHEDULE 13G/AThe Vanguard Group0.0%0
2025-02-13SCHEDULE 13G/ACapital World Investors4.6%33,238,442
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.11%$2.7B
VSMPX0.11%$2.7B
VTSAX0.11%$2.7B
VTI0.11%$2.7B
SCHD1.99%$2.2B
VOO0.13%$2.2B

Share structure

Shares outstanding750,625,114
Float742,587,308
Free float98.9%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$16.9B$7.4B$7.4B$11.4B$13.8B
Cost of revenue$198.3M$317.2M$431.9M$443.7M$1.9B
Gross profit$16.7B$7.1B$7.0B$10.9B$11.9B
R&D$0$0$0$0$0
SG&A$928.2M$1.1B$1.2B$1.4B$1.5B
Operating income$13.6B$3.5B$3.0B$6.5B$7.2B
EBITDA$13.6B$3.5B$3.0B$6.5B$7.2B
Pretax income$13.6B$3.5B$3.0B$6.5B$7.2B
Income tax$1.2B$472.9M$513.5M$1.0B$1.1B
Net income$5.9B$1.7B$1.4B$2.8B$3.0B
EPS, diluted$8.13$2.36$1.84$3.62$3.88
Diluted shares720.1M740.9M755.4M766.6M780.9M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$2.1B$4.3B$3.0B$2.0B$2.9B
Receivables$5.3B$4.6B$4.7B$5.6B$6.6B
Inventory$0$0$0$0$0
Total current assets$7.5B$9.0B$7.8B$7.8B$9.5B
PP&E, net$1.0B$1.3B$1.4B$1.3B$1.6B
Goodwill & intangibles$2.2B$2.1B$2.1B$2.1B$2.0B
Total assets$41.2B$42.5B$40.3B$43.5B$47.7B
Accounts payable$937.2M$1.3B$2.3B$0$0
Total current liabilities$937.2M$1.3B$2.3B$0$12.5B
Long-term debt$8.7B$13.4B$12.3B$12.3B$13.3B
Total liabilities$19.5B$22.8B$22.2B$24.0B$25.8B
Shareholders' equity$21.7B$19.7B$18.1B$19.5B$21.9B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$12.4B$3.0B$2.4B$5.4B$3.0B
Depreciation & amortization$74.9M$67.1M$40.1M$36.0M$36.0M
Stock-based compensation$0$0$0$0$1.9B
Change in working capital−$2.3B−$1.1B−$617.8M−$1.5B−$1.7B
Operating cash flow$4.0B$6.3B$4.1B$3.5B$1.9B
Capital expenditure−$64.3M−$235.5M−$224.2M−$61.4M−$115.7M
Free cash flow$3.9B$6.1B$3.8B$3.4B$1.7B
Investing cash flow−$64.3M−$235.5M−$229.7M−$61.4M$5.3B
Net debt issued / repaid$2.2B$3.2B−$7.5M$638.0M$1.0B
Buybacks−$1.3B−$466.0M−$418.0M−$661.1M−$312.5M
Dividends paid−$4.6B−$6.5B−$4.3B−$4.4B−$6.0B

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin98.8%95.7%94.2%96.1%86.0%
Operating margin80.5%46.5%39.8%56.8%51.9%
Net margin34.8%23.5%18.7%24.4%21.8%
FCF margin23.3%81.9%51.5%30.1%25.1%
ROE72.9%20.5%19.2%36.9%35.8%
ROIC77.3%17.8%15.1%29.4%30.3%
ROA17.4%4.2%3.4%6.6%6.6%
Debt / equity0.921.751.801.501.63
Interest coverage68.4x10.9x6.8x14.6x14.1x
Current ratio8.017.213.44—0.76
Revenue growth+212.1%−55.8%−0.2%+52.9%+21.6%
EPS growth+440.1%−70.8%−22.0%+96.9%+7.0%
P/E at year end14.0x28.8x67.5x46.3x39.9x
EV / EBITDA at year end6.5x16.8x34.4x21.4x18.3x
FCF yield at year end4.78%12.12%4.08%2.66%2.89%
Dividend payout78.6%373.0%306.9%159.3%199.2%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Investment Advice$5.2B————
Private Equity Segment——$1.3B$1.4B$1.7B
Investment Performance$254.0M$525.1M———
Real Estate Segment——$294.2M$203.4M$489.6M
Hedge Fund Solutions Segment——$230.5M——

Street estimates by fiscal year

Next report 2026-10-22 · consensus EPS $1.28 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$14.4B$13.8B – $14.8B$5.92$5.77 – $6.031618.0x
2027$18.1B$16.9B – $20.3B$7.39$6.76 – $8.051714.4x
2028$19.3B$15.8B – $21.7B$8.11$7.08 – $8.901213.1x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-07-23$1.34$1.52+13.4%$3.4B$3.8B+11.1%
2026-04-23$1.34$1.36+1.5%$3.4B$3.4B+0.7%
2026-01-29$1.54$1.75+13.6%$3.7B$3.9B+7.1%
2025-10-23$1.23$1.52+23.6%$3.1B$2.8B−9.6%
2025-07-24$1.10$1.21+10.0%$2.8B$3.7B+33.2%
2025-04-17$1.05$1.09+3.8%$2.8B$2.9B+7.0%
2025-01-30$1.48$1.69+14.2%$3.8B$2.8B−25.8%
2024-10-17$0.92$1.01+9.8%$2.4B$3.6B+51.2%
2024-07-18$0.98$0.96−2.2%$2.6B$2.7B+3.3%
2024-04-18$0.96$0.98+2.1%$2.6B$3.5B+37.7%
2024-01-25$0.95$1.11+16.8%$2.6B$1.3B−50.0%
2023-10-19$1.01$0.94−6.9%$3.1B$2.4B−23.8%
2023-07-20$0.92$0.93+1.1%$2.4B$2.7B+13.8%
2023-04-20$0.97$0.970.0%$2.5B$1.3B−48.1%
2023-01-26$0.96$1.07+11.5%$2.7B$1.8B−31.8%
2022-10-20$0.96$1.06+10.4%$2.4B$778.2M−67.1%
2022-07-21$1.47$1.49+1.4%$3.6B$404.1M−88.7%
2022-04-21$1.07$1.55+44.9%$2.9B$5.0B+71.9%
2022-01-27$1.37$1.71+24.8%$3.1B$5.7B+82.8%
2021-10-21$0.93$1.28+37.6%$2.0B$6.1B+204.2%
2021-07-22$0.80$0.82+2.5%$2.0B$5.2B+159.9%
2021-04-22$0.72$0.96+33.3%$1.7B$5.2B+211.1%
2021-01-27$0.89$1.13+27.0%$2.7B$3.7B+38.9%
2020-10-28$0.57$0.63+10.5%$3.3B$3.2B−2.0%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.606-150.806-220.606-290.507-060.707-130.907-201.007-270.808-031.108-100.508-170.408-240.608-31
Week ofNotionalSharesTrades
2026-08-31$625.6M4,530,70898,845
2026-08-24$422.1M2,936,06972,458
2026-08-17$546.4M3,842,40789,876
2026-08-10$1.1B7,690,236135,685
2026-08-03$773.1M5,718,409109,653
2026-07-27$1.0B7,694,159122,237

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1539.2%
DateShort shareShort volumeTotal volume
2026-10-1539.2%1,230,0853,141,915
2026-10-1444.1%1,533,3783,479,087
2026-10-1347.7%1,119,7202,349,783
2026-10-1246.3%450,268972,532
2026-10-0935.4%583,9401,647,678
2026-10-0843.5%812,5331,868,809
2026-10-0747.5%903,5241,901,176
2026-10-0650.2%822,4491,639,809
2026-10-0539.3%822,1342,092,088
2026-10-0247.1%1,107,0092,351,314
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+2.0Jan-1.4Feb+2.2Mar+3.7Apr+0.4May-1.1Jun+5.7Jul-1.9Aug+1.4Sep+1.1Oct+1.2Nov+1.5Dec
MonthAvg returnUp yearsYears
Jan+2.0%68%19
Feb−1.4%42%19
Mar+2.2%63%19
Apr+3.7%56%18
May+0.4%61%18
Jun−1.1%37%19
Jul+5.7%74%19
Aug−1.9%42%19
Sep+1.4%58%19
Oct+1.1%53%19
Nov+1.2%63%19
Dec+1.5%63%19
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1430.9
MFI41.1
ADX44.0
Stochastic %K / %D16.3 / 17.0
Williams %R-88.3
CCI-118
TSI / signal-38.6 / -36.6
Chaikin money flow-0.17
ATR$3.77
Bollinger width17.4%
Volume vs 20-day avg1.05x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$114.03 (−6.5%)
SMA 50$128.20 (−16.8%)
SMA 200$125.90 (−15.3%)
EMA 21$114.96 (−7.2%)
EMA 50$121.65 (−12.3%)
EMA 200$128.74 (−17.2%)
Bollinger upper$123.94 (−14.0%)
Bollinger lower$104.12 (+2.4%)
Parabolic SAR$115.16 (−7.4%)
Open the live chart, 110+ indicators

About Blackstone Inc.

Blackstone Inc. operates as a prominent alternative asset manager, specializing in a broad spectrum of investment strategies. Its expertise encompasses real estate, private equity, credit solutions, comprehensive hedge fund offerings, public debt and equity, multi-asset class approaches, and secondary funds of funds. While often backing nascent businesses, the firm also extends its services to capital markets. Its real estate division targets diverse opportunities: high-potential opportunistic ventures, core-plus assets, and stable, income-generating commercial properties. Additionally, it engages in debt investments secured by commercial real estate. These activities span North America, Europe, and Asia. Blackstone's global private equity arm executes varied transactions, including substantial buyouts, mid-market acquisitions, special situations, and distressed mortgage loans. They also manage "buy and build" platforms, which involve consolidating multiple acquisitions under a single management team, alongside growth equity and development projects, often taking significant majority stakes or minority positions in operating companies. The scope of its investments covers sectors like shipping, real estate, corporate and consumer debt, and greenfield alternative energy projects in energy, power, and property development. The firm actively seeks opportunities in dislocated markets, shipping, financial institution breakups, reinsurance, and initiatives aimed at improving freight mobility. Key industry focuses further include financial services, healthcare, life sciences, enterprise technology, and consumer goods, including consumer tech. Beyond these, it actively explores investment prospects across Asia and Latin America, typically maintaining a three-year investment period for its ventures. The hedge fund business provides a broad range of commingled and customized fund solutions. Concurrently, its credit division concentrates on loans and securities issued by non-investment grade entities. These span the entire capital structure, encompassing senior debt, subordinated debt, preferred stock, and common equity. Established in 1985, Blackstone Inc. is headquartered in New York City, with a significant global presence through additional offices throughout Asia, Europe, and North America.

https://www.blackstone.com

Key executives

NameTitlePayBorn
Stephen Allen SchwarzmanChairman, Chief Executive Officer & Co-Founder$125.6M1947
Jonathan D. Gray CIMAPresident, COO & Director$59.3M1969
Vikrant SawhneyChief Administrative Officer & Global Head of Institutional Client Solutions$10.9M—
Michael S. ChaeChief Financial Officer & Vice Chairman$8.4M1968
John Gary FinleyChief Legal Officer$6.9M1957
Joseph Patrick BarattaGlobal Head of Private Equity Strategies & Director—1971
Juergen PinkerSenior MD of BXCI - Berkeley Square House London & Head of Germany for BXCI——
Seth A. MeiselSenior Managing Director of Private Equity - New York—1973

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
None on file.

Employees

3k20183k20193k20204k20215k20225k20235k20245k2025

Dividends

Ex-dateAmountPaid
2026-08-03$1.292026-08-10
2026-05-04$1.162026-05-11
2026-02-09$1.492026-02-17
2025-11-03$1.292025-11-10
2025-08-04$1.032025-08-11
2025-04-28$0.932025-05-05
2025-02-10$1.442025-02-18
2024-10-28$0.862024-11-04

Moat model

Weak · Efficient Scale · 2026-06-30
Cost advantage62
Intangibles51
Switching costs38
Network effect60
Efficient scale70
Our component scores (0-100) and overall 54.2; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms