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BXBlackstone Inc.
$111.74$88.0B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
BX logo

Blackstone Inc.

BX
NYSE · Asset Management
$111.74
At close - Oct 2, 4:00 PM EDT - USD
Market Cap$88.03B
P/E28.8x
52W High$170.00
Volume5.69M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Fee Revenue Surge Drives Record EPS Inflection

Blackstone's Q2 2026 results mark a clear inflection point, with total revenue surging 69.5% year-over-year to $4.8B, driven by fee income that constitutes 97.2% of revenue. The firm's efficiency ratio improved to 36.8% from 59.7% in the prior quarter, demonst...

GrowthAccelerating
ProfitabilityStrong
ValuationReview
TechnicalsWeak
Explore valuation models
MARKET ACTION

BX price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

10/12 Beats

EPS beat 10 of last 12 quarters

02

Valuation risk

+47% Peers

P/E is 47% above peer median

03

Market leadership

RS 35 · Lag

Laggard (Underperforming 65% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Oct 23
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Revenue growth accelerated 69.5% year-over-year in Q2 2026 to $4.8B, with fee income representing 97.2% of total revenue and EPS surging 60.2% to $1.57.

Analyst Consensus+28.4% target
Buy(30 analysts)
19 Buy10 Hold1 Sell

The Bull Case

Upside Catalysts

Record Earnings & Resilient Fundamentals

Blackstone reported record earnings in 2025, underscoring its robust financial health. Despite market volatility, the firm maintains resilient fundamentals, positioning it to capture upside in a recovering economy.

Diversified AUM & Fee Generation

The firm’s assets under management span credit & insurance, private equity, and real estate, creating non‑correlated growth. This diversification fuels robust fee generation and cushions the business against sector‑specific downturns.

Private Wealth Growth Surge

Private wealth AUM grew 16% year‑over‑year, and Blackstone commands an estimated 50% share of private‑wealth revenue among major alternative firms. This positions the firm to capture expanding wealth‑management demand.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 10/3/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
BX-27.15%
S&P 500 (^GSPC)+12.66%
1-Year Return
BX-29.78%
S&P 500 (^GSPC)+15.01%
3-Year Return
BX+16.29%
S&P 500 (^GSPC)+79.48%
5-Year Return
BX+20.09%
S&P 500 (^GSPC)+86.00%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y Low
28.8x
Forward P/EExpansion
18.6x
EV/EBITDA20th %ile
13.7x
FCF YieldCash Flow
2.0%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
28.8x
39.7x
20th· Low
EV/EBITDA
13.7x
18.2x
20th· Low
Price/FCF
50.4x
25.8x
80th· High
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$54.31-51.4%
Base (Fair)$84.42-24.4%
Bull$69.18-38.1%
$54.31 Bear$84.42 Base$69.18 Bull
Current Market Price: $111.74
Trades at a 32.4% premium to Base DCF ($84.42)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$13.32B+21.9% YoY
Net income
$3.02B+8.7% YoY
Free cash flow
$1.74B-49.0% YoY
Operating margin
53.9%-5.2 pts YoY
ROIC (TTM)16.1%
Avg ROIC 5Y-
ROE (TTM)14.6%
Piotroski Score5 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate10/12 (83%)
Revenue Beat Rate8/12 (67%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Jul 23, 2026
$1.52+13.4%
vs $1.34
$3.8B+11.1%
vs $3.4B
Q2 2026
Apr 23, 2026
$1.36+1.5%
vs $1.34
$3.4B+0.7%
vs $3.4B
Q1 2026
Jan 29, 2026
$1.75+13.6%
vs $1.54
$3.9B+7.1%
vs $3.7B
Q4 2025
Oct 23, 2025
$1.52+23.6%
vs $1.23
$2.8B-9.6%
vs $3.1B
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
Seeking Alpha·6d ago
My Biggest Bet: 3 Dividend Investments Boosted By 2 Major Macro Tailwinds

While I am a big believer in a certain degree of diversification, I have significantly overweighted my portfolio in 3 investments. These investments are targeting 2 major macro tailwinds that should help drive superior long-term risk-adjusted performance in these picks. I detail the three investments that I am betting big on, as well as the risks.

WSJ·Sep 25, 2026
Blackstone's Top Private-Equity Executive Is Preparing to Leave Firm

Joseph Baratta would be the latest of several senior executives to leave private-investment giant.

Seeking Alpha·Sep 25, 2026
The More These Dividend Machines Drop, The More I Buy

Leading blue-chip dividend machines have recently sold off quite aggressively. I detail several reasons why I am very happy about this development. I also share how I am taking advantage of the sell-off, including some of my favorite investments right now.

Business Wire·Sep 24, 2026
Blackstone Launches BXPM – Blackstone Private Markets Fund

NEW YORK--(BUSINESS WIRE)--Blackstone (NYSE: BX) today announced the launch of Blackstone Private Markets Fund (BXPM), a new, perpetual flagship strategy providing simplified access to Blackstone's private markets platform in a single allocation. The strategy has access to: Private equity, through Blackstone's $364 billion private equity strategies, including corporate private equity, tactical opportunities, growth, and life sciences, and secondaries business Private infrastructure, through Bla.

Filtered for Blackstone Inc.More Headlines
04

Compare before deciding

Benchmark BX against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Blackstone Inc. (BX)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
BX logoBXBlackstone Inc.Current
$111.74$88.03B28.8021.87%22.67%14.59%6.89%
KKR logoKKRKKR & Co. Inc.
$90.29$81.07B38.59-7.47%18%3.96%—
APO logoAPOApollo Global Management, Inc.
$114.02$65.67B15.7115.78%8.54%7.06%—
CG logoCGThe Carlyle Group Inc.
$39.82$14.33B18.2740.31%10%5.11%—
ARES logoARESAres Management Corporation
$117.55$38.61B59.9796.21%9.97%7.43%—
TPG logoTPGTPG Inc.
$44.67$17.12B36.9279.63%4.68%4.88%—

Compare BX vs Peers

Blackstone Inc. (BX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs KKR

Most directly comparable listed peer for BX.

Scale Benchmark

vs MS

Larger-name benchmark to compare BX against a more recognizable public peer.

Peer Set

Compare Top 5

vs KKR, APO, CG, ARES

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

BX SEC Filings & Documents

Blackstone Inc. (BX) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Jul 23, 2026·SEC

Material company update

Jun 23, 2026·SEC

Material company update

Apr 23, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 27, 2026·SEC

FY 2025

Feb 28, 2025·SEC

FY 2024

Feb 23, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Aug 7, 2026·SEC

FY 2026

May 8, 2026·SEC

FY 2025

Nov 7, 2025·SEC

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BX Frequently Asked Questions

Blackstone Inc. (BX) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
How fast is Blackstone Inc. growing?

Blackstone Inc. (BX) grew revenue by 21.9% over the past year. This is strong growth.

Is BX profitable?

Yes, Blackstone Inc. (BX) is profitable, generating $3.52B in net income for fiscal year 2025 (22.7% net margin).

Dividend & Returns
Does BX pay dividends?

Yes, Blackstone Inc. (BX) pays a dividend with a yield of 6.89%. This makes it attractive for income-focused investors.

What is BX's return on equity?

Blackstone Inc. (BX) has a return on equity (ROE) of 14.6%. This is reasonable for most industries.

Industry Metrics
What is Blackstone Inc.'s net interest margin?

Blackstone Inc. (BX) has a net interest margin (NIM) of -0.2%. NIM has been under pressure due to interest rate environment.

What is Blackstone Inc.'s efficiency ratio?

Blackstone Inc. (BX) has an efficiency ratio of 35.4%. This is excellent, indicating strong cost control.

What if you invested $1,000 in BX back in 1999?

Total return calculator · dividends reinvested · 27+ years of data

See returns →