NYSE : BX
Blackstone Inc. — Financial statements
Financials · Asset Management · United States
Last price 118.51 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 147.36B
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Financial statements
Blackstone Inc. (BX) reported revenue of 15.47B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest and Dividend Income | 478.85M | 416.09M | 411.16M | 516.50M | 271.61M | 160.64M |
| Total Interest Expense | 543.10M | 508.31M | 443.69M | 431.87M | 317.23M | 198.27M |
| Net Interest Income | -64.25M | -92.22M | -32.53M | 84.63M | -45.61M | -37.62M |
| Trading & Principal Transactions | 873.28M | 945.94M | 712.85M | -299.33M | -713.52M | 2.46B |
| Asset Management Fee | 9.56B | 9.05B | 8.15B | 7.37B | 6.83B | 5.42B |
| Gain on Sale of Investments (Rev) | 5.10B | 4.31B | 3.83B | 532.17M | 1.95B | 14.33B |
| Revenue | 15.47B | 14.21B | 12.66B | 7.68B | 8.02B | 22.18B |
| Salaries & Employee Benefits | 6.16B | 5.62B | 4.99B | 3.31B | 3.53B | 8.35B |
| Cost of Services Provided | 1.68B | 1.57B | 1.38B | 1.24B | 1.12B | 928.22M |
| Total Operating Expenses | 7.84B | 7.19B | 6.38B | 4.55B | 4.66B | 9.28B |
| Operating Income | 7.62B | 7.02B | 6.29B | 3.13B | 3.36B | 12.90B |
| Currency Exchange Gains | -271.20M | -271.20M | 122.30M | -94.70M | 182.90M | 200.60M |
| Other Non-Operating Income (Expenses) | 799.67M | 424.31M | 50.23M | -25.43M | 23.94M | 461.35M |
| EBT Excluding Unusual Items | 8.15B | 7.17B | 6.46B | 3.01B | 3.57B | 13.56B |
| Gain (Loss) on Sale of Investments | -56.80M | -105.14M | ||||
| Pretax Income | 8.15B | 7.17B | 6.46B | 2.96B | 3.46B | 13.56B |
| Income Tax Expense | 1.29B | 1.13B | 1.02B | 513.46M | 472.88M | 1.18B |
| Earnings From Continuing Ops. | 6.86B | 6.05B | 5.44B | 2.44B | 2.99B | 12.37B |
| Minority Interest in Earnings | -3.30B | -3.03B | -2.66B | -1.05B | -1.24B | -6.52B |
| Net Income | 3.56B | 3.02B | 2.78B | 1.39B | 1.75B | 5.86B |
| Net Income to Common | 3.56B | 3.02B | 2.78B | 1.39B | 1.75B | 5.86B |
| Shares Outstanding (Basic) | 792.07M | 780.02M | 766.49M | 755.20M | 740.66M | 719.77M |
| Shares Outstanding (Diluted) | 792.39M | 780.22M | 766.65M | 755.42M | 740.94M | 720.13M |
| EPS (Basic) | 4.49 | 3.87 | 3.62 | 1.84 | 2.36 | 8.14 |
| EPS (Diluted) | 4.49 | 3.87 | 3.62 | 1.84 | 2.36 | 8.13 |
| Free Cash Flow | 4.55B | 3.42B | 3.83B | 6.10B | 3.92B | |
| Free Cash Flow Per Share | 5.83 | 4.46 | 5.07 | 8.23 | 5.45 | |
| Dividend Per Share | 5.06 | 4.74 | 3.95 | 3.35 | 4.40 | 4.06 |
| Operating Margin | 49.28% | 49.38% | 49.65% | 40.79% | 41.92% | 58.16% |
| Profit Margin | 22.99% | 21.24% | 21.93% | 18.10% | 21.80% | 26.41% |
| Free Cash Flow Margin | 32.00% | 27.01% | 49.88% | 76.11% | 17.68% | |
| Effective Tax Rate | 15.83% | 15.69% | 15.82% | 17.36% | 13.66% | 8.73% |
| Revenue as Reported | 16.08B | 14.45B | 13.23B | 8.02B | 8.52B | 22.58B |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 3.04B | 2.63B | 1.97B | 2.96B | 4.25B | 2.12B |
| Trading Asset Securities | 134.56M | 180.31M | 170.89M | 202.68M | 145.40M | |
| Accounts Receivable | 6.50B | 5.05B | 4.05B | 3.64B | 3.34B | 3.52B |
| Other Receivables | 451.49M | 1.60B | 1.60B | 1.02B | 1.26B | 1.77B |
| Property, Plant & Equipment | 723.12M | 1.28B | 1.34B | 1.38B | 1.31B | 1.03B |
| Goodwill | 1.89B | 1.89B | 1.89B | 1.89B | 1.89B | 1.89B |
| Other Intangible Assets | 104.25M | 131.36M | 165.24M | 201.21M | 217.29M | 284.38M |
| Investments in Debt & Equity Securities | 13.85B | 12.69B | 10.86B | 9.45B | 9.66B | 28.60B |
| Restricted Cash | 228.70M | 223.44M | 204.05M | 316.20M | 241.71M | 79.99M |
| Other Current Assets | 315.34M | 192.78M | 207.89M | 165.08M | 92.36M | |
| Long-Term Deferred Tax Assets | 1.83B | 2.06B | 2.00B | 2.33B | 2.06B | 1.58B |
| Other Long-Term Assets | 21.02B | 19.71B | 19.01B | 16.72B | 17.91B | 73.57M |
| Total Assets | 49.64B | 47.71B | 43.47B | 40.29B | 42.52B | 41.20B |
| Accounts Payable | 3.43B | 1.32B | 1.46B | 1.41B | 859.26M | 742.00M |
| Accrued Expenses | 7.10B | 6.41B | 6.09B | 5.25B | 6.10B | 7.91B |
| Short-Term Debt | 1.25B | 1.08B | 654.62M | 226.99M | 205.65M | |
| Current Portion of Long-Term Debt | 711.02M | 315.86M | 399.84M | |||
| Current Portion of Leases | 160.65M | |||||
| Other Current Liabilities | 1.98M | 1.92M | 3.89M | 3.83M | 27.85M | |
| Long-Term Debt | 13.40B | 11.73B | 11.01B | 11.30B | 11.95B | 7.75B |
| Long-Term Leases | 792.39M | 700.37M | 965.74M | 989.82M | 1.02B | 908.03M |
| Other Long-Term Liabilities | 3.90B | 3.54B | 3.06B | 2.61B | 2.28B | 1.95B |
| Total Liabilities | 28.62B | 25.83B | 23.97B | 22.21B | 22.84B | 19.49B |
| Common Stock | 7.00K | 7.00K | 7.00K | 7.00K | 7.00K | 7.00K |
| Additional Paid-In Capital | 9.24B | 8.48B | 7.44B | 6.18B | 5.94B | 5.79B |
| Retained Earnings | -383.19M | 191.64M | 808.08M | 660.73M | 1.75B | 3.65B |
| Comprehensive Income & Other | -18.79M | -6.01M | -40.33M | -19.13M | -27.48M | -19.63M |
| Total Common Equity | 8.84B | 8.67B | 8.21B | 6.82B | 7.66B | 9.42B |
| Minority Interest | 12.18B | 13.22B | 11.28B | 11.26B | 12.03B | 12.28B |
| Shareholders' Equity | 21.02B | 21.88B | 19.50B | 18.08B | 19.68B | 21.71B |
| Total Liabilities & Equity | 49.64B | 47.71B | 43.47B | 40.29B | 42.52B | 41.20B |
| Total Debt | 14.19B | 14.56B | 13.36B | 12.95B | 13.60B | 8.86B |
| Net Cash (Debt) | -11.16B | -11.79B | -11.21B | -9.82B | -9.14B | -6.60B |
| Net Cash Per Share | -14.08 | -15.11 | -14.62 | -13.00 | -12.34 | -9.16 |
| Filing Date Shares Outstanding | 799.72M | 783.18M | 768.72M | 758.04M | 742.65M | 732.04M |
| Total Common Shares Outstanding | 799.72M | 783.18M | 768.72M | 758.04M | 742.65M | 732.04M |
| Working Capital | -307.50M | 101.12M | -747.02M | 998.13M | 1.88B | -1.15B |
| Book Value Per Share | 11.05 | 11.06 | 10.68 | 8.99 | 10.31 | 12.87 |
| Tangible Book Value | 6.84B | 6.64B | 6.16B | 4.73B | 5.55B | 7.25B |
| Tangible Book Value Per Share | 8.56 | 8.48 | 8.01 | 6.23 | 7.47 | 9.90 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 3.02B | 2.78B | 1.39B | 1.75B | 5.86B | |
| Depreciation & Amortization, Total | 135.01M | 134.72M | 134.20M | 136.30M | 127.07M | |
| Gain (Loss) On Sale of Investments | -5.31B | -4.66B | -2.31B | -4.65B | -8.70B | |
| Stock-Based Compensation | 3.39B | 3.11B | 1.46B | 1.78B | 6.80B | |
| Change in Accounts Receivable | -211.94M | -78.28M | 237.62M | 177.83M | 288.31M | |
| Change in Accounts Payable | 514.28M | 194.58M | -40.28M | 158.02M | 110.96M | |
| Change in Other Net Operating Assets | 831.72M | 257.39M | 1.36B | 3.72B | 1.79B | |
| Other Operating Activities | 2.29B | 1.75B | 1.82B | 3.27B | -2.29B | |
| Operating Cash Flow | 4.66B | 3.48B | 4.06B | 6.34B | 3.99B | |
| Capital Expenditures | -115.70M | -61.41M | -224.23M | -235.50M | -64.32M | |
| Cash Acquisitions | -5.42M | |||||
| Investing Cash Flow | -115.70M | -61.41M | -229.65M | -235.50M | -64.32M | |
| Long-Term Debt Issued | 2.81B | 741.17M | 494.98M | 3.52B | 2.22B | |
| Long-Term Debt Repaid | -1.81B | -103.22M | -502.46M | -280.77M | ||
| Net Debt Issued (Repaid) | 1.00B | 637.95M | -7.49M | 3.24B | 2.22B | |
| Repurchase of Common Stock | -312.48M | -661.07M | -418.02M | -465.96M | -1.27B | |
| Common Dividends Paid | -3.64B | -2.63B | -2.48B | -3.65B | -2.55B | |
| Other Financing Activities | -931.35M | -1.85B | -2.15B | -2.92B | -2.18B | |
| Financing Cash Flow | -3.88B | -4.50B | -5.05B | -3.79B | -3.78B | |
| Foreign Exchange Rate Adjustments | 9.84M | -14.56M | 4.99M | -12.32M | -9.81M | |
| Net Cash Flow | 678.49M | -1.10B | -1.22B | 2.29B | 135.28M | |
| Free Cash Flow | 4.55B | 3.42B | 3.83B | 6.10B | 3.92B | |
| Free Cash Flow Margin | 32.00% | 27.01% | 49.88% | 76.11% | 17.68% | |
| Free Cash Flow Per Share | 5.83 | 4.46 | 5.07 | 8.23 | 5.45 | |
| Cash Interest Paid | 463.53M | 407.33M | 400.33M | 261.89M | 194.17M | |
| Cash Income Tax Paid | 562.56M | 646.87M | 569.38M | 683.17M | 700.69M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 147.36B | 120.65B | 132.40B | 99.21B | 55.02B | 92.86B |
| Last Close Price | 118.51 | 149.45 | 162.16 | 120.06 | 65.70 | 109.50 |
| PE Ratio | 26.42 | 39.96 | 47.69 | 71.33 | 31.48 | 15.85 |
| PS Ratio | 9.53 | 8.49 | 10.46 | 12.91 | 6.86 | 4.19 |
| PB Ratio | 10.72 | 5.51 | 6.79 | 5.49 | 2.80 | 4.28 |
| P/FCF Ratio | 26.86 | 26.53 | 38.71 | 25.89 | 9.02 | 23.68 |
| P/OCF Ratio | 26.32 | 25.87 | 38.03 | 24.45 | 8.68 | 23.30 |
| Debt / Equity Ratio | 0.68 | 0.67 | 0.69 | 0.72 | 0.69 | 0.41 |
| Debt / FCF Ratio | 3.20 | 3.91 | 3.38 | 2.23 | 2.26 | |
| Net Debt / Equity Ratio | 0.53 | 0.54 | 0.57 | 0.54 | 0.47 | 0.30 |
| Net Debt / FCF Ratio | 2.59 | 3.28 | 2.56 | 1.50 | 1.68 | |
| Asset Turnover | 0.32 | 0.31 | 0.30 | 0.19 | 0.19 | 0.66 |
| Quick Ratio | 0.95 | 0.96 | 0.87 | 1.06 | 1.19 | 0.85 |
| Current Ratio | 0.97 | 1.01 | 0.92 | 1.14 | 1.25 | 0.87 |
| Return on Equity (ROE) | 32.38% | 29.23% | 28.95% | 12.95% | 14.44% | 68.19% |
| Return on Assets (ROA) | 14.27% | 13.26% | 12.98% | 5.90% | 7.14% | 36.69% |
| Return on Invested Capital (ROIC) | 17.59% | 17.08% | 16.57% | 8.06% | 9.09% | 45.53% |
| Earnings Yield | 3.79% | 2.50% | 2.10% | 1.40% | 3.18% | 6.31% |
| FCF Yield | 3.72% | 3.77% | 2.58% | 3.86% | 11.09% | 4.22% |
| Dividend Yield | 4.00% | 3.08% | 2.29% | 2.56% | 5.94% | 3.20% |
| Payout Ratio | 112.81% | 120.42% | 94.69% | 178.18% | 208.70% | 43.46% |
| Buyback Yield / Dilution | -2.03% | -1.77% | -1.49% | -1.95% | -2.89% | -2.30% |
| Total Shareholder Return | 1.97% | 1.31% | 0.81% | 0.61% | 3.05% | 0.91% |