BLACKSTONE MORTGAGE TRUST, INC. BXMT
References herein to "Blackstone Mortgage Trust," "company," "we," "us," or "our" refer to Blackstone Mortgage Trust,
Inc., a Maryland corporation, and its subsidiaries unless the context specifically requires otherwise.
Blackstone Mortgage Trust is a real estate finance company that originates, acquires, and manages senior loans and other
debt or credit-oriented investments collateralized by or relating to commercial real estate in North America, Europe, and
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | $2.04B | $1.34B | $854.7M | $779.6M | $882.7M | $756.1M | $537.9M | $498.0M |
| SG&A | $52.2M | $53.9M | $51.1M | $52.2M | $43.2M | $45.9M | $38.9M | $35.5M | $29.9M | $27.7M |
| Interest expense | — | — | $1.37B | $710.9M | $340.2M | $347.5M | $458.5M | $359.6M | $234.9M | $184.3M |
| Pre-tax income | $113.3M | -$199.5M | $255.3M | $254.1M | $422.7M | $140.7M | $306.9M | $286.1M | $218.3M | $246.6M |
| Income tax | $3.7M | $2.4M | $5.4M | $3.0M | $423.0K | $323.0K | $506.0K | $308.0K | $314.0K | $196.0K |
| Net income | $109.6M | -$204.1M | $246.6M | $248.6M | $419.2M | $137.7M | $305.6M | $285.1M | $217.6M | $238.3M |
| EPS, basic | 0.64 | -1.17 | 1.43 | 1.46 | 2.77 | 0.97 | 2.35 | — | — | — |
| EPS, diluted | 0.64 | -1.17 | 1.43 | 1.46 | 2.77 | 0.97 | 2.35 | 2.50 | 2.27 | 2.53 |
| Shares, diluted (wtd. avg.) | $171.0M | $173.8M | $172.7M | $170.6M | $151.5M | $141.8M | $130.1M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $452.5M | $323.5M | $350.0M | $291.3M | $551.2M | $290.0M | $150.1M | $105.7M | $102.5M | $75.6M |
| Total assets | $20.00B | $19.80B | $24.04B | $25.35B | $22.70B | $16.96B | $16.55B | $14.47B | $10.26B | $8.81B |
| Long-term debt | — | — | $16.50B | $17.58B | $15.07B | $9.98B | $11.45B | $9.62B | — | — |
| Total liabilities | $16.50B | $16.01B | $19.65B | $20.81B | $18.08B | $13.05B | $12.77B | $11.09B | $7.34B | $6.32B |
| Retained earnings | -$1.95B | -$1.73B | -$1.15B | -$968.7M | -$794.8M | -$829.3M | -$592.5M | -$569.4M | -$567.2M | -$541.1M |
| Total equity | $3.50B | $3.79B | $4.39B | $4.54B | $4.62B | $3.90B | $3.78B | $3.37B | $2.92B | $2.49B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $275.9M | $366.5M | $458.8M | $396.8M | $382.5M | $336.6M | $304.0M | $290.0M | $227.5M | $236.7M |
| Stock-based compensation | $28.3M | $31.8M | $30.7M | $33.4M | $31.6M | $34.5M | $30.7M | $28.2M | $24.0M | $21.9M |
| Investing cash flow | $359.4M | $3.50B | $1.44B | -$3.25B | -$5.63B | -$88.3M | -$1.87B | -$4.25B | -$780.8M | $434.1M |
| Financing cash flow | -$514.4M | -$3.88B | -$1.85B | $2.61B | $5.51B | -$110.8M | $1.61B | $3.96B | $574.7M | -$699.6M |
| Dividends paid | $322.7M | $404.0M | $426.9M | $421.4M | $370.7M | $348.9M | $321.0M | $277.3M | $235.0M | $232.8M |
| Buybacks | $109.5M | $29.2M | $0 | $0 | — | — | — | — | — | — |
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 0001193125-26-191913.
Others in SIC 6798
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| EQIX | EQUINIX INC | $102.22B | 75.3x | 5.4% |
| AMT | AMERICAN TOWER CORP /MA/ | $81.93B | 32.6x | 20.8% |
| SPG | SIMON PROPERTY GROUP INC. | $67.86B | 14.8x | 6.7% |
| DLR | DIGITAL REALTY TRUST, INC. | $66.20B | 52.6x | 10.0% |
| O | REALTY INCOME CORP | $57.96B | 52.4x | 9.1% |
| PSA | Public Storage | $53.04B | 33.5x | 2.7% |