Blackstone Inc. (BX) 10-Year Financial Performance & Capital Metrics

BX • • Banking & Credit

Financial ServicesAsset ManagementAlternative Asset ManagementPrivate Equity & Real Asset Managers

AboutBlackstone Inc. is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services. The real estate segment specializes in opportunistic, core+ investments as well as debt investment opportunities collateralized by commercial real estate, and stabilized income-oriented commercial real estate across North America, Europe and Asia. The firm's corporate private equity business pursues transactions throughout the world across a variety of transaction types, including large buyouts,special situations, distressed mortgage loans, mid-cap buyouts, buy and build platforms, which involves multiple acquisitions behind a single management team and platform, and growth equity/development projects involving significant majority stakes in portfolio companies and minority investments in operating companies, shipping, real estate, corporate or consumer loans, and alternative energy greenfield development projects in energy and power, property, dislocated markets, shipping opportunities, financial institution breakups, re-insurance, and improving freight mobility, financial services, healthcare, life sciences, enterprise tech and consumer, as well as consumer technologies. The firm considers investment in Asia and Latin America. It has a three year investment period. Its hedge fund business manages a broad range of commingled and customized fund solutions and its credit business focuses on loans, and securities of non-investment grade companies spread across the capital structure including senior debt, subordinated debt, preferred stock and common equity. Blackstone Inc. was founded in 1985 and is headquartered in New York, New York with additional offices across Asia, Europe and North America.Show more

Net Interest Income -$33M -138.4%
Total Revenue $11.37B +52.9%
Net Income $2.78B +99.6%
Return on Equity 14.78% +100.6%
Net Interest Margin -0.07% -135.6%
Efficiency Ratio 39.31% -27.8%
ROA 6.63% +97.4%
Equity / Assets 44.85%
Book Value per Share 25.43 +6.3%
Tangible BV/Share 22.75 +7.5%
Debt/Equity 0.63 -7.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓Efficient operations: 39.3% efficiency ratio
✓Well capitalized: 44.8% equity/assets
✓Healthy dividend yield of 3.6%
✓Diversified revenue: 96.4% from non-interest income

✗Weaknesses

✗Weak NIM of -0.1%
✗Dividend payout exceeds 100% of earnings

Price & Volume

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Growth Metrics

Revenue CAGR

10Y3.79%

5Y12.28%

3Y-12.28%

TTM-

Profit (Net Income) CAGR

10Y5.77%

5Y6.26%

3Y-22.03%

TTM43.51%

EPS CAGR

10Y3.44%

5Y3.62%

3Y-23.64%

TTM41.98%

ROCE

10Y Avg13.74%

5Y Avg16.34%

3Y Avg10.46%

Latest15.42%

Peer Comparison

Private Equity & Real Asset Managers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TPGTPG Inc.	9.85B	67.27	1044.57	41.37%	0.9%	6.69%	5.11%	0.44
GCMGGCM Grosvenor Inc.	2.18B	11.68	340.52	15.82%	3.57%	8.9%	6.05%
BNBrookfield Corporation	106.23B	47.33	228.98	-10.34%	0.75%	0.61%		1.42
BXBlackstone Inc.	118.75B	160.81	44.42	52.91%	24.41%	13.59%	2.88%	0.63
BAMBrookfield Asset Management Ltd.	83.91B	52.04	40.66	-2.02%	54.47%	22.06%	2.21%	0.07
KKRKKR & Co. Inc.	117.05B	131.32	40.04	51.09%	14.22%	4.36%	5.56%	0.82
PAXPatria Investments Limited	1.13B	17.43	37.09	14.22%	19.21%	17.64%	12.14%	0.51
HLNEHamilton Lane Incorporated	6.76B	153.84	28.44	28.73%	30.49%	19.91%	4.6%	0.40

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	1.08B	-56.93M	-57.79M	7.96M	-17.25M	-40.93M	-37.63M	-45.61M	84.63M	-32.53M
NII Growth %	-0.63%	-1.05%	-0.02%	1.14%	-3.17%	-1.37%	0.08%	-0.21%	2.86%	-1.38%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	1.71B	95.72M	139.7M	171.95M	182.4M	125.23M	160.64M	271.61M	516.5M	411.16M
Interest Expense	625.63M	152.65M	197.49M	163.99M	199.65M	166.16M	198.27M	317.23M	431.87M	443.69M
Loan Loss Provision	0	0	0	0	0	0	0	0	0	0
Non-Interest Income+	3.12B	4.37B	5.84B	5.79B	6.19B	5.27B	16.69B	7.18B	6.92B	10.96B
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	4.82B	4.46B	5.98B	5.96B	6.37B	5.4B	16.85B	7.45B	7.44B	11.37B
Revenue Growth %	-0.39%	-0.07%	0.34%	-0%	0.07%	-0.15%	2.12%	-0.56%	-0%	0.53%
Non-Interest Expense	2.38B	1.93B	1.66B	2.28B	2.36B	2.62B	3.09B	3.67B	4.05B	4.47B
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	1.81B	2.38B	4.12B	3.51B	3.82B	2.62B	13.56B	3.46B	2.96B	6.46B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.54%	0.31%	0.73%	-0.15%	0.09%	-0.31%	4.18%	-0.74%	-0.15%	1.18%
Pretax Income+	1.81B	2.38B	4.12B	3.51B	3.82B	2.62B	13.56B	3.46B	2.96B	6.46B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	190.4M	132.36M	743.15M	249.39M	-47.95M	356.01M	1.18B	472.88M	513.46M	1.02B
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	709.79M	1.04B	1.47B	1.54B	2.05B	1.05B	5.86B	1.75B	1.39B	2.78B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.55%	0.46%	0.42%	0.05%	0.33%	-0.49%	4.6%	-0.7%	-0.2%	1%
Net Income (Continuing)	1.62B	2.25B	3.37B	3.26B	3.87B	2.26B	12.37B	2.99B	2.44B	5.44B
EPS (Diluted)+	1.04	1.56	2.21	2.26	3.03	1.50	8.13	2.36	1.84	3.62
EPS Growth %	-0.6%	0.5%	0.42%	0.02%	0.34%	-0.5%	4.42%	-0.71%	-0.22%	0.97%
EPS (Basic)	1.12	1.60	2.21	2.27	3.03	1.50	8.14	2.36	1.84	3.62
Diluted Shares Outstanding	594.04M	597.56M	666.25M	603.48M	676.17M	697.26M	720.13M	740.94M	755.42M	766.65M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	1.84B	1.84B	1.99B	2.21B	2.17B	2B	2.12B	4.25B	2.96B	1.97B
Short Term Investments	0	0	0	0	0	0	0	0	0	0
Total Investments+	14.33B	17.7B	24.44B	20.42B	22.34B	15.74B	28.81B	18.17B	16.89B	19.14B
Investments Growth %	-0.37%	0.24%	0.38%	-0.16%	0.09%	-0.3%	0.83%	-0.37%	-0.07%	0.13%
Long-Term Investments	14.33B	17.7B	24.44B	20.42B	22.34B	15.74B	28.81B	18.17B	16.89B	19.14B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	1.72B	1.72B	1.78B	1.87B	1.87B	1.9B	1.89B	1.89B	1.89B	1.89B
Intangible Assets	345.55M	262.6M	409.83M	468.51M	397.51M	347.95M	284.38M	217.29M	201.21M	165.24M
PP&E (Net)	135.54M	126.78M	126.57M	120.37M	625.54M	758.75M	1.03B	1.31B	1.38B	1.34B
Other Assets	838.81M	1.16B	1.96B	355.55M	365.49M	82.92M	90.56M	9.85B	9.77B	11.12B
Total Current Assets	3.88B	4.15B	4.97B	4.95B	5.9B	6.19B	7.51B	9.03B	7.82B	7.81B
Total Non-Current Assets	18.64B	22.25B	29.44B	23.98B	26.68B	20.08B	33.69B	33.5B	32.46B	35.66B
Total Assets+	22.53B	26.4B	34.42B	28.92B	32.59B	26.27B	41.2B	42.52B	40.29B	43.47B
Asset Growth %	-0.28%	0.17%	0.3%	-0.16%	0.13%	-0.19%	0.57%	0.03%	-0.05%	0.08%
Return on Assets (ROA)	0.03%	0.04%	0.05%	0.05%	0.07%	0.04%	0.17%	0.04%	0.03%	0.07%
Accounts Payable	648.66M	1.08B	2.04B	875.98M	806.16M	717.1M	937.17M	1.25B	2.28B	0
Total Debt+	6.16B	8.94B	14.93B	10.17B	11.78B	6.34B	8.71B	13.37B	12.29B	12.29B
Net Debt	4.32B	7.1B	12.94B	7.97B	9.61B	4.34B	6.59B	9.12B	9.34B	10.31B
Long-Term Debt	6.16B	8.94B	14.93B	10.17B	11.78B	6.34B	8.71B	13.37B	12.29B	12.29B
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Other Liabilities	3.49B	3.86B	3.72B	4.12B	4.9B	4.62B	9.84B	8.22B	7.64B	11.69B
Total Current Liabilities	648.66M	1.08B	2.04B	875.98M	806.16M	717.1M	937.17M	1.25B	2.28B	0
Total Non-Current Liabilities	9.65B	12.81B	18.65B	14.29B	16.68B	10.96B	18.55B	21.59B	19.94B	23.97B
Total Liabilities	10.3B	13.89B	20.69B	15.17B	17.48B	11.68B	19.49B	22.84B	22.21B	23.97B
Total Equity+	12.23B	12.51B	13.72B	13.75B	15.1B	14.59B	21.71B	19.68B	18.08B	19.5B
Equity Growth %	-0.29%	0.02%	0.1%	0%	0.1%	-0.03%	0.49%	-0.09%	-0.08%	0.08%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.05%	0.08%	0.11%	0.11%	0.14%	0.07%	0.32%	0.08%	0.07%	0.15%
Book Value per Share	20.59	20.94	20.60	22.79	22.34	20.93	30.14	26.56	23.93	25.43
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	6.32B	6.52B	6.67B	6.42B	7K	7K	7K	7K	7K	7K
Additional Paid-in Capital	0	0	0	0	6.43B	6.33B	5.79B	5.94B	6.18B	7.44B
Retained Earnings	0	0	0	0	609.63M	335.76M	3.65B	1.75B	660.73M	808.08M
Accumulated OCI	-52.52M	-62.89M	-34.02M	-36.48M	-28.5M	-15.83M	-19.63M	-27.48M	-19.13M	-40.33M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	2.4B	-88.59M	-1.63B	45.74M	1.96B	1.94B	3.99B	6.34B	4.06B	3.48B
Operating CF Growth %	0.45%	-1.04%	-17.36%	1.03%	41.92%	-0.01%	1.06%	0.59%	-0.36%	-0.14%
Net Income	1.62B	2.25B	3.37B	3.26B	3.87B	2.26B	12.37B	2.99B	2.44B	5.44B
Depreciation & Amortization	101.44M	82.94M	46.78M	59.02M	71M	71.05M	74.87M	67.1M	40.08M	35.97M
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	1.95B	-1.96B	-3.19B	-1.17B	-382.33M	1.25B	-6.12B	4.37B	2.19B	-452.98M
Working Capital Changes	-1.27B	-456.78M	-1.86B	-2.1B	-1.59B	-1.64B	-2.34B	-1.09B	-617.75M	-1.54B
Cash from Investing+	-53.4M	-139.29M	-193.26M	-116.6M	-60.28M	-166.82M	-64.32M	-235.5M	-229.65M	-61.41M
Purchase of Investments	0	-8.81B	-18.72B	-13.88B	-8.68B	-7.28B	-7.48B	-5.23B	-5.01B	-2.43B
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	-168.91M	-98.22M	8.68B	-55.17M	7.48B	5.23B	-5.42M	0
Other Investing	-10.62B	0	0	-297.65M	-10.65B	-1.96B	-11.97B	-10.37B	-2.89B	-2.82B
Cash from Financing+	-1.92B	570.17M	2.77B	-1.33B	-1.92B	-2.24B	-3.78B	-3.79B	-5.05B	-4.5B
Dividends Paid	-3.5B	-2.02B	-2.84B	-3.05B	-2.4B	-2.39B	-4.6B	-6.52B	-4.27B	-4.42B
Share Repurchases	-61.03M	-27.62M	-30.19M	-567.16M	-585.34M	-504.91M	-1.27B	-465.96M	-418.02M	-661.07M
Stock Issued	0	0	0	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	-1000K	1000K
Other Financing	-267.01M	-283.9M	-189.91M	74.33M	-85.63M	-240.29M	-123.79M	-50.49M	-359.94M	-54.27M
Net Change in Cash+	424.85M	-71K	155.24M	-1.39B	-21.51M	-459.19M	135.28M	2.29B	-1.22B	-1.1B
Exchange Rate Effect	615K	-1000K	1000K	1000K	-1000K	1000K	-1000K	-1000K	1000K	-1000K
Cash at Beginning	1.41B	1.84B	1.84B	3.94B	2.55B	2.52B	2.06B	2.2B	4.49B	3.27B
Cash at End	1.84B	1.84B	1.99B	2.55B	2.52B	2.06B	2.2B	4.49B	3.27B	2.18B
Interest Paid	0	0	0	0	0	0	0	0	0	0
Income Taxes Paid	0	0	0	0	0	0	0	0	0	0
Free Cash Flow+	2.34B	-110.42M	-2.47B	27.36M	1.9B	1.82B	3.92B	6.1B	3.83B	3.42B
FCF Growth %	0.44%	-1.05%	-21.4%	1.01%	68.54%	-0.04%	1.15%	0.56%	-0.37%	-0.11%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	4.8%	8.4%	11.22%	11.22%	14.21%	7.04%	32.28%	8.45%	7.37%	14.78%
Return on Assets (ROA)	2.63%	4.25%	4.84%	4.87%	6.66%	3.55%	17.36%	4.17%	3.36%	6.63%
Net Interest Margin	4.79%	-0.22%	-0.17%	0.03%	-0.05%	-0.16%	-0.09%	-0.11%	0.21%	-0.07%
Efficiency Ratio	49.4%	43.22%	27.78%	38.31%	36.96%	48.44%	18.36%	49.27%	54.43%	39.31%
Equity / Assets	54.29%	47.4%	39.87%	47.55%	46.35%	55.54%	52.69%	46.28%	44.87%	44.85%
Book Value / Share	20.59	20.94	20.6	22.79	22.34	20.93	30.14	26.56	23.93	25.43
NII Growth	-62.89%	-105.27%	-1.51%	113.77%	-316.79%	-137.28%	8.08%	-21.23%	285.54%	-138.44%
Dividend Payout	492.73%	194.29%	193.19%	197.59%	116.93%	228.21%	78.58%	373.01%	306.89%	159.34%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Private Equity	1.38B	1.36B	2.01B	-	-	-	-	-	1.27B	1.39B
Private Equity Growth	-	-1.56%	47.67%	-	-	-	-	-	-	9.77%
Real Estate	1.79B	2.2B	3.15B	-	-	-	-	-	294.24M	203.43M
Real Estate Growth	-	22.70%	43.56%	-	-	-	-	-	-	-30.86%
Hedge Fund Solutions	590.31M	605.74M	728.28M	-	-	-	-	-	230.5M	-
Hedge Fund Solutions Growth	-	2.61%	20.23%	-	-	-	-	-	-	-
Investment Performance	-	-	-	57.54M	129.91M	138.66M	253.99M	525.13M	-	-
Investment Performance Growth	-	-	-	-	125.78%	6.74%	83.17%	106.75%	-	-
Investment Advice	-	-	-	3.03B	3.47B	4.09B	5.17B	-	-	-
Investment Advice Growth	-	-	-	-	14.68%	17.87%	26.34%	-	-	-
Credit	484.75M	898.46M	895.14M	-	-	-	-	-	-	-
Credit Growth	-	85.34%	-0.37%	-	-	-	-	-	-	-
Financial Advisory	308.04M	-	-	-	-	-	-	-	-	-
Financial Advisory Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Blackstone Inc. (BX) has a price-to-earnings (P/E) ratio of 44.4x. This suggests investors expect higher future growth.

Growth & Financials

Blackstone Inc. (BX) grew revenue by 52.9% over the past year. This is strong growth.

Yes, Blackstone Inc. (BX) is profitable, generating $2.86B in net income for fiscal year 2024 (24.4% net margin).

Dividend & Returns

Yes, Blackstone Inc. (BX) pays a dividend with a yield of 3.59%. This makes it attractive for income-focused investors.

Blackstone Inc. (BX) has a return on equity (ROE) of 14.8%. This is reasonable for most industries.

Industry Metrics

Blackstone Inc. (BX) has a net interest margin (NIM) of -0.1%. NIM has been under pressure due to interest rate environment.

Blackstone Inc. (BX) has an efficiency ratio of 39.3%. This is excellent, indicating strong cost control.

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