Blackstone Inc. BX

Financials SIC 6282 - Investment Advice NAICS Finance and Insurance › Securities, Commodity Contracts, and Other Financial Investments and Related Activities › Other Financial Investment Activities › Portfolio Management and Investment Advice derived NYSE

Blackstone is the world's largest alternative asset manager. We seek to deliver compelling returns for institutional and individual investors by strengthening the companies and assets in which we invest. Our more than $1.3 trillion in Total Assets Under Management as of December 31, 2025 include global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries and hedge funds.

Our businesses use a solutions-oriented approach to drive better performance. We believe our scale, diversified business, long record of investment performance, rigorous investment process and strong client relationships position us to continue to perform well in a variety of market conditions, expand our assets under management, and innovate.

Last close 117.97 2026-10-23
Market cap $88.55B 2026-06-30 share count
52-week range 101.73 - 165.14

Valuation FY2025 figures against the last close

P/S6.1x
P/E30.5x
P/FCF19.5x
EV/EBITDA—
Dividend yield6.8%
Diluted EPS3.87

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $14.45B$13.23B$8.02B$8.52B$22.58B$6.10B$7.34B$6.83B$7.15B$5.15B
SG&A $1.52B$1.36B$1.12B$1.09B$917.8M$711.8M$679.4M$594.9M$488.6M$541.6M
Total operating expenses $7.70B$6.82B$4.98B$4.97B$9.48B$3.48B$3.96B$3.51B$3.75B$2.95B
Interest expense $508.3M$443.7M$431.9M$317.2M$198.3M$166.2M$199.6M$164.0M$197.5M$152.7M
Pre-tax income $7.17B$6.46B$2.96B$3.46B$13.56B$2.62B$3.82B$3.51B$4.12B$2.38B
Income tax $1.13B$1.02B$513.5M$472.9M$1.18B$356.0M$48.0M$249.4M$743.1M$132.4M
Net income $3.02B$2.78B$1.39B$1.75B$5.86B$1.05B$2.05B$1.54B$1.47B$1.04B
EPS, basic 3.873.621.842.368.141.503.032.272.211.60
EPS, diluted 3.873.621.842.368.131.503.032.262.211.56
Shares, diluted (wtd. avg.) 780.2M766.6M755.4M740.9M720.1M697.3M676.2M1.21B666.2M1.20B

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $2.63B$1.97B$3.27B$4.49B$2.20B$2.06B$2.52B$2.55B$3.94B$2.86B
Property, plant and equipment $521.2M$506.3M$542.8M$411.7M$244.6M$231.8M$154.5M$120.4M$126.6M$126.8M
Goodwill $1.89B$1.89B$1.89B$1.89B$1.89B$1.90B$1.87B$1.87B$1.78B$1.72B
Other intangibles $131.4M$165.2M$201.2M$217.3M$284.4M$348.0M$397.5M$468.5M$409.8M$262.6M
Total assets $47.71B$43.47B$40.29B$42.52B$41.20B$26.27B$32.59B$28.92B$34.42B$26.40B
Long-term debt $12.58B$11.46B$11.61B$12.49B$7.86B$5.73B$11.54B$10.40B$15.17B$8.94B
Total liabilities $25.83B$23.97B$22.21B$22.84B$19.49B$11.68B$17.48B$15.17B$20.69B$13.89B
Retained earnings $191.6M$808.1M$660.7M$1.75B$3.65B$335.8M$609.6M———
Total equity $8.67B$8.21B$6.82B$7.66B$9.42B$6.65B$7.01B$6.38B——

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $4.66B$3.48B$4.06B$6.34B$3.99B$1.94B$1.96B$45.7M-$1.63B-$88.6M
Depreciation and amortisation $98.0M$98.8M$94.1M$69.2M$52.2M$35.1M$26.3M$23.9M$25.2M$32.0M
Stock-based compensation $1.45B$1.17B$987.5M$846.3M$637.4M$438.3M$417.1M$366.9M$338.7M$323.7M
Capital expenditure $115.7M$61.4M$224.2M$235.5M$64.3M$111.7M$60.3M$18.4M$24.3M$21.8M
Investing cash flow -$115.7M-$61.4M-$229.7M-$235.5M-$64.3M-$166.8M-$60.3M-$116.6M-$193.3M-$21.8M
Financing cash flow -$3.88B-$4.50B-$5.05B-$3.79B-$3.78B-$2.24B-$1.92B-$1.33B$2.77B$570.2M
Dividends paid $6.01B$4.42B$4.27B$6.52B$4.60B$2.39B$2.40B$3.05B$2.84B—

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-082531.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 10B 20B 30B Revenue, FY2016: 5.1B Net income, FY2016: 1B Revenue, FY2017: 7.1B Net income, FY2017: 1.5B Revenue, FY2018: 6.8B Net income, FY2018: 1.5B Revenue, FY2019: 7.3B Net income, FY2019: 2B Revenue, FY2020: 6.1B Net income, FY2020: 1B Revenue, FY2021: 22.6B Net income, FY2021: 5.9B Revenue, FY2022: 8.5B Net income, FY2022: 1.7B Revenue, FY2023: 8B Net income, FY2023: 1.4B Revenue, FY2024: 13.2B Net income, FY2024: 2.8B Revenue, FY2025: 14.5B Net income, FY2025: 3B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $5.15B $7.15B $6.83B $7.34B $6.10B $22.58B $8.52B $8.02B $13.23B $14.45B
Gross profit — — — — — — — — — —
Net income $1.04B $1.47B $1.54B $2.05B $1.05B $5.86B $1.75B $1.39B $2.78B $3.02B

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Other event Item 8.01
  • Other event Item 8.01
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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