Saturday 17 October 2026 Export BX’s income statement to Excel — free account

Blackstone Inc.

Blackstone Inc.’s revenue for fiscal 2025 (year ended December 2025) was $14.5 billion, up 9.22% from fiscal 2024. In the quarter to June 2026, revenue grew 35.9%, EPS grew 57.1%, free cash flow grew 125.1% and total debt rose 9.87%, each against the same quarter a year earlier. Member of the S&P 500; insiders bought in the last twelve months.

106.28 2.92 −2.67%

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Market cap: $135.6B
P/E: 23.8×
Fwd P/E: 19.3×
Dividend yield: 4.92%
F-score: 5/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total buys 2.24

Total sells 28.22

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	2	—	—	1	—	—	1	—	—	1	—	—
Sell	—	—	—	—	—	—	1	—	—	3	1	—

Insider Ownership 7.16%

Capital & Financial Ratios $m

Market Cap 135,610.00

Revenue 16,110.48

Net Income 6,825.69

Free Cash Flow 5,486.24

Net Debt 10,421.43

Current Ratio 0.72

Debt/Equity 0.63

P/E ratio 23.78

Fwd P/E 19.30

P/S ratio 5.28

P/B ratio 4.04

Past 5Y EPS Growth 20.87%

This Y EPS Growth 6.35%

Next Y EPS Growth 24.83%

Next Y revenue growth 3.99%

Next 5Y EPS Growth 13.44%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 45.93%

10-year low 10-year high

P/S against its own 10 years 44.86%

10-year low 10-year high

P/B against its own 10 years 63.80%

10-year low 10-year high

Dividends

Payout Ratio 1.17

Annual Dividend Rate 5.23

Annual Dividend Yield 4.92%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	5.10	1.49 1.16 1.29
2025	4.69	1.44 0.93 1.03 1.29
2024	3.45	0.94 0.83 0.82 0.86
2023	3.32	0.91 0.82 0.79 0.80
2022	6.31	1.45 1.32 1.32 1.27 0.05 0.90
2021	3.57	0.96 0.82 0.70 1.09
2020	1.91	0.61 0.39 0.37 0.54
2019	1.92	0.58 0.37 0.48 0.49
2018	2.42	0.85 0.35 0.58 0.64
2017	2.32	0.47 0.87 0.54 0.44
2016	1.66	0.61 0.28 0.36 0.41

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	3,272	2,176	2,855	2,773
Receivables	4,660	5,647	6,649	6,910
Inventory	—	—	—	—
Other	—	—	—	—
	7,932	7,823	9,504	9,683

	2023	2024	2025	Q'26
Payables	4,671	5,600	6,110	6,588
ST’ Debt	—	—	—	—
Other	—	—	—	—
	9,918	11,688	12,522	13,432

Compound Annual Growth %

	10y	5y	3y
Sales	12.01%	18.82%	19.27%
Cash Flow	6.88%	19.22%	(9.71%)
Earnings	15.58%	23.63%	19.99%
Book Value	5.46%	7.13%	4.50%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	3,618	5,044	—	—	—
’25	3,289	3,712	3,089	4,360	14,450
’24	3,688	2,796	3,663	3,083	13,230
’23	1,382	2,815	2,541	1,285	8,023
’22	5,126	629	1,058	1,704	8,518
’21	5,299	5,291	6,224	5,763	22,577
’20	(3,076)	2,516	3,033	3,629	6,102

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	991	1,941	—	—	—
’25	1,109	889	1,598	1,068	4,663
’24	940	1,159	1,222	161	3,482
’23	353	1,726	1,083	896	4,057
’22	2,749	1,890	983	715	6,336
’21	2,297	900	1,604	(814)	3,986
’20	999	491	135	310	1,936

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	958	1,909	—	—	—
’25	1,080	848	1,574	1,045	4,547
’24	922	1,146	1,202	150	3,420
’23	283	1,665	1,020	864	3,833
’22	2,692	1,844	898	666	6,101
’21	2,276	886	1,594	(834)	3,922
’20	987	478	90	269	1,824

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.83	1.54	—	—	—
’25	0.80	0.98	0.80	1.30	3.87
’24	1.11	0.58	1.02	0.92	3.62
’23	0.11	0.79	0.73	0.20	1.84
’22	1.66	(0.04)	0.00	0.75	2.36
’21	2.46	1.82	1.94	1.92	8.13
’20	(1.58)	0.81	1.13	1.07	1.50

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	22.31	27.35	26.88	28.51	33.00	61.27	71.72	74.04	114.88	115.66	Analyst estimates 2026–2028 Powerpack
	High	30.25	35.09	40.60	56.69	65.75	149.78	138.95	133.53	200.96	190.09
People
People	Employees	2,240	2,360	2,615	2,905	3,165	3,795	4,695	4,735	4,895	5,285
	Revenue/emp, $m	2.30	3.03	2.61	2.53	1.93	5.95	1.81	1.69	2.70	2.73
Income, $m
Income, $m	Revenue	5,146	7,145	6,833	7,338	6,102	22,577	8,518	8,023	13,230	14,450
	Gross margin, %	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00
	EBT	2,382	4,118	3,513	3,818	2,618	13,559	3,462	2,958	6,459	7,172
	EBT margin, %	46.28	57.64	51.41	52.03	42.90	60.06	40.64	36.87	48.82	49.63
	Net income	2,249	3,375	3,264	3,866	2,262	12,375	2,989	2,444	5,438	6,047
	Depreciation	83	47	59	71	71	75	67	40	36	36
Per share, $
Per share, $	Revenue	7.92	10.74	10.07	10.86	8.76	31.37	11.50	10.62	17.26	18.53
	Earnings	1.60	2.21	2.27	3.03	1.50	8.14	2.36	1.84	3.62	3.87
	Cash flow	(0.14)	(2.44)	0.07	2.90	2.78	5.54	8.55	5.37	4.54	5.98
	Capex	(0.03)	(0.04)	(0.03)	(0.09)	(0.16)	(0.09)	(0.32)	(0.30)	(0.08)	(0.15)
	Free cash flow	(0.17)	(2.48)	0.04	2.82	2.62	5.45	8.24	5.08	4.46	5.83
	Book value	18.98	20.31	20.05	22.22	20.84	30.06	24.26	22.37	24.39	26.28
	Shares, m	649	665	679	676	697	720	741	755	766	780
Valuation, ×
Valuation, ×	P/E	17.80	14.65	13.13	18.52	45.01	15.86	32.12	69.71	47.37	39.73
	P/S	3.55	3.08	2.37	5.15	7.40	4.13	6.62	12.07	9.99	8.32
	P/B	1.48	1.63	1.19	2.52	3.11	4.30	3.14	5.73	7.07	5.86
	EV/Sales	4.71	4.62	3.49	6.34	8.00	4.37	7.54	13.08	10.68	8.98
	EV/FCF	(219.57)	(19.99)	870.73	24.45	26.76	25.18	10.53	27.37	41.31	28.55
Cash, $m
Cash, $m	Operating cash flow	(89)	(1,626)	46	1,963	1,936	3,986	6,336	4,057	3,482	4,663
	Capex	(22)	(24)	(18)	(60)	(112)	(64)	(235)	(224)	(61)	(116)
	Free cash flow	(110)	(1,651)	27	1,903	1,824	3,922	6,101	3,833	3,420	4,547
Balance, $m
Balance, $m	Working capital	229	1,067	179	389	816	(3,283)	(369)	(1,986)	(3,865)	(3,018)
	Total debt	8,942	14,934	10,174	11,235	5,721	7,806	12,350	11,304	11,321	12,445
	Net debt	5,981	11,012	7,629	8,711	3,657	5,606	7,856	8,032	9,145	9,590
	Shareholders’ equity	12,330	13,512	13,612	15,015	14,525	21,638	17,966	16,896	18,694	20,501
Returns, %
Returns, %	ROA	4.25	4.84	4.87	6.66	3.55	17.36	4.17	3.36	6.63	6.62
	ROIC	7.50	8.65	9.77	8.89	9.01	30.05	8.58	7.63	14.39	14.02
	ROE	8.52	11.39	11.37	14.32	7.08	32.39	8.83	7.98	15.60	15.41

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
BLK BlackRock	$182.1B	24.5×	14.8×	+19.10% (above 0%: growing)	+45.24% (above 0%: growing)	−12.31% (below 0%: shrinking)	100.00%	30.03%	Compare
BX Blackstone Inc.	$135.6B	23.8×	19.3×	+35.89% (above 0%: growing)	+57.14% (above 0%: growing)	+125.08% (above 0%: growing)	100.00%	55.78%
KKR KKR & Co. Inc.	$78.7B	25.7×	25.9×	+12.52% (above 0%: growing)	+39.62% (above 0%: growing)	+762.68% (above 0%: growing)	37.79%	6.89%	Compare
BAM Brookfield Asset Management Ltd.	$75.3B	26.0×	24.1×	+60.83% (above 0%: growing)	+47.37% (above 0%: growing)	+3.02% (above 0%: growing)	100.00%	65.83%	Compare
APO Apollo Global Management Inc.	$66.1B	39.6×	15.6×	+63.68% (above 0%: growing)	+118.00% (above 0%: growing)	+128.29% (above 0%: growing)	100.00%	22.42%	Compare
STT State Street Corporation	$46.0B	13.1×	13.4×	+5.36% (above 0%: growing)	+40.48% (above 0%: growing)	+65.74% (above 0%: growing)	66.12%	0.00%	Compare
AMP Ameriprise Financial, Inc.	$44.4B	11.9×	10.7×	+12.91% (above 0%: growing)	+11.40% (above 0%: growing)	+65.06% (above 0%: growing)	100.00%	29.70%	Compare
ARES Ares Management Corporation	$37.7B	51.5×	21.0×	+5.81% (above 0%: growing)	+6.52% (above 0%: growing)	−197.89% (below 0%: shrinking)	100.00%	17.40%	Compare
NTRS Northern Trust Corporation	$30.3B	14.1×	15.2×	+16.99% (above 0%: growing)	+98.60% (above 0%: growing)	−113.28% (below 0%: shrinking)	64.06%	0.00%	Compare
Median of peers	$56.1B	25.1×	15.4×	+14.95%	+42.86%	+34.04%	100.00%	19.91%

All 120 Asset Management stocks →

Blackstone Inc. (BX) key facts

Strength: Blackstone Inc.’s revenue for fiscal 2025 (year ended December 2025) was $14.5 billion, up 9.22% from fiscal 2024.
Strength: Net income was $6.0 billion, or $3.87 per share (basic), a net margin of 20.9%.
Blackstone Inc. (BX) is an Asset Management company in the Financial sector, listed on the New York Stock Exchange.
As of October 16, 2026, BX traded at $106.28, a market capitalization of $135.6 billion.
At that price the stock trades at 23.8× trailing-twelve-month earnings and 5.3× sales; its P/E is higher than 46% of its own readings over the past ten years.
Blackstone Inc. pays an annual dividend of $5.23 per share, a yield of 4.92%, with a payout ratio of 117.0%.
Return on equity was 15.4% and debt-to-equity 0.63.
Its Piotroski F-score is 5 out of 9 for fiscal 2025.