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Blackstone Mortgage Trust, Inc. (BXMT) 10-Year Financial Performance & Capital Metrics

BXMT • • REIT / Real Estate
Real EstateMortgage REITsCommercial Mortgage REITsSenior Commercial Lenders
AboutBlackstone Mortgage Trust, Inc., a real estate finance company, originates senior loans collateralized by commercial properties in North America, Europe, and Australia. The company operates as a real estate investment trust for federal income tax purposes. It generally would not be subject to U.S. federal income taxes if it distributes at least 90% of its taxable income to its stockholders. The company was formerly known as Capital Trust, Inc. and changed its name to Blackstone Mortgage Trust, Inc. in May 2013. Blackstone Mortgage Trust, Inc. was founded in 1997 and is headquartered in New York, New York.Show more
  • Revenue $1.77B +163.6%
  • FFO -$191M -177.5%
  • FFO/Share -1.10 -177.0%
  • FFO Payout -211.47% -222.1%
  • FFO per Share -1.10 -177.0%
  • NOI Margin 93.8% -6.2%
  • FFO Margin -10.81% -129.4%
  • ROE -4.99% -190.4%
  • ROA -0.93% -193.3%
  • Debt/Assets 79.43% -1.1%
  • Net Debt/EBITDA 13.98
  • Book Value/Share 21.83 -14.1%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓High NOI margin of 93.8%
  • ✓Trading at only 0.9x book value

✗Weaknesses

  • ✗High debt to equity ratio of 4.1x
  • ✗Weak 3Y average ROE of 2.0%

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y29.93%
5Y33.04%
3Y50.9%
TTM8.54%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM144%

EPS CAGR

10Y-
5Y-
3Y-
TTM144.37%

ROCE

10Y Avg3.21%
5Y Avg3.54%
3Y Avg4.97%
Latest4.97%

Peer Comparison

Senior Commercial Lenders
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Size & Scale
Valuation
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Momentum & Returns
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Technical
Volume & Trading
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
KREFKKR Real Estate Finance Trust Inc.538.32M8.2243.26-13.41%-3.17%-0.52%23.12%2.76
SEVNSeven Hills Realty Trust139.56M9.147.62-14.14%55.38%5.75%14.41%1.55
LFTLument Finance Trust, Inc.75.41M1.444.248.68%17.4%4.26%35.98%3.68
GPMTGranite Point Mortgage Trust Inc.117.09M2.47-0.56-6.3%-62.12%-9.69%5.11%2.38
CMTGClaros Mortgage Trust, Inc.399.62M2.85-1.7831.45%-106.13%-21.19%20.81%2.43
BXMTBlackstone Mortgage Trust, Inc.3.27B19.50-16.67163.59%25.99%2.98%11.19%4.15

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Revenue+280.19M327.12M303.05M396.48M424.18M432.18M514.47M628.05M670.66M1.77B
Revenue Growth %1.17%0.17%-0.07%0.31%0.07%0.02%0.19%0.22%0.07%1.64%
Property Operating Expenses000000000109.65M
Net Operating Income (NOI)+----------
NOI Margin %----------
Operating Expenses+80M84M85M110M424.18M432.18M514.47M628.05M670.66M150.77M
G&A Expenses76.44M80.36M80.95M105.93M112.13M38.55M123.88M41.27M37.87M53.92M
EBITDA+0422.76M452.81M645.01M00511.34M001.1B
EBITDA Margin %----------
Depreciation & Amortization+-178.62M253.73M318.8M470.55M0091.73M0013.04M
D&A / Revenue %----------
Operating Income+178.62M00000419.62M001.09B
Operating Margin %----------
Interest Expense+152.42M184.27M234.87M359.63M458.5M347.47M340.22M710.9M1.37B1.29B
Interest Coverage1.17x-----1.23x--0.84x
Non-Operating Income-21.97M-13.42M218.28M286.12M00-333.3M000
Pretax Income+212.39M246.64M218.28M286.12M306.89M140.74M422.7M254.06M255.26M-199.46M
Pretax Margin %----------
Income Tax+504K196K314K308K-506K323K423K3M5.36M2.37M
Effective Tax Rate %----------
Net Income+196.83M238.3M217.63M285.08M305.57M137.67M419.19M248.64M246.56M-204.09M
Net Margin %----------
Net Income Growth %1.19%0.21%-0.09%0.31%0.07%-0.55%2.04%-0.41%-0.01%-1.83%
Funds From Operations (FFO)+----------
FFO Margin %----------
FFO Growth %-0.88%26.03%0.09%0.41%-0.67%-0.67%5.32%-0.67%--
FFO per Share+----------
FFO Payout Ratio %----------
EPS (Diluted)+2.412.532.272.502.350.972.771.461.43-1.17
EPS Growth %0.3%0.05%-0.1%0.1%-0.06%-0.59%1.86%-0.47%-0.02%-1.82%
EPS (Basic)2.412.532.272.502.350.972.771.461.43-1.17
Diluted Shares Outstanding81.74M94.17M95.96M113.86M130.09M141.8M151.52M170.63M172.67M173.78M

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Assets+9.38B8.81B10.26B14.47B16.55B16.96B22.7B25.35B24.04B19.8B
Asset Growth %1.04%-0.06%0.16%0.41%0.14%0.02%0.34%0.12%-0.05%-0.18%
Real Estate & Other Assets+9.26B-79.65M-74.99M-201.83M01.2M-78.08M00-91.08M
PP&E (Net)0000000009.34M
Investment Securities1000K001000K01000K1000K001000K
Total Current Assets+96.45M8.81B69.65M14.37B016.88B0000
Cash & Equivalents96.45M75.57M69.65M105.66M150.09M289.97M551.15M291.34M350.01M323.48M
Receivables1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Assets-9.22B0-10.2B0-16.38B119.16M-638.21M-481.98M-565.87M-484.62M
Intangible Assets00000000077.29M
Total Liabilities6.87B6.32B7.34B11.09B12.77B13.05B18.08B20.81B19.65B16.01B
Total Debt+6.78B6.23B7.24B10.96B12.59B12.91B17.9B20.44B19.3B15.73B
Net Debt6.68B6.16B7.17B10.86B12.44B12.62B17.35B20.15B18.95B15.41B
Long-Term Debt6.78B6.23B7.2B10.96B12.44B12.85B5.62B6.92B6.62B6.03B
Short-Term Borrowings1000K210K1000K1000K1000K1000K1000K1000K1000K1000K
Capital Lease Obligations0000000000
Total Current Liabilities+00000192.3M0000
Accounts Payable93.68M9.05M14.16M25.59M02.67M29.85M80.26M97.82M77.86M
Deferred Revenue0-1.77M00000000
Other Liabilities-1.12B5.05B-7.2B-2.05B-12.44B10.03M-5.62B-6.92B-6.62B-6.03B
Total Equity+2.51B2.49B2.92B3.37B3.78B3.9B4.62B4.54B4.39B3.79B
Equity Growth %0.67%-0%0.17%0.16%0.12%0.03%0.18%-0.02%-0.03%-0.14%
Shareholders Equity2.49B2.49B2.91B3.36B3.76B3.89B4.59B4.52B4.37B3.79B
Minority Interest13.14M6.16B6.34M10.48M22.1M18.16M30.52M25.41M19.79M6.88M
Common Stock937K945K1.08M1.23M1.35M1.47M1.68M1.72M1.73M1.73M
Additional Paid-in Capital3.07B3.09B3.51B3.97B4.37B4.7B5.37B5.48B5.51B5.51B
Retained Earnings-545.79M-541.14M-567.17M-569.43M-592.55M-829.28M-794.83M-968.75M-1.15B-1.73B
Preferred Stock0000000000
Return on Assets (ROA)0.03%0.03%0.02%0.02%0.02%0.01%0.02%0.01%0.01%-0.01%
Return on Equity (ROE)0.1%0.1%0.08%0.09%0.09%0.04%0.1%0.05%0.06%-0.05%
Debt / Assets0.72%0.71%0.71%0.76%0.76%0.76%0.79%0.81%0.8%0.79%
Debt / Equity2.70x2.50x2.48x3.25x3.33x3.31x3.88x4.50x4.40x4.15x
Net Debt / EBITDA-14.56x15.83x16.84x--33.93x--13.98x
Book Value per Share30.6526.4830.4029.6429.0927.5330.4826.6325.4121.83

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+171.39M236.65M227.46M290M304.04M336.61M382.48M396.82M458.84M366.45M
Operating CF Growth %1.13%0.38%-0.04%0.27%0.05%0.11%0.14%0.04%0.16%-0.2%
Operating CF / Revenue %----------
Net Income211.88M246.44M217.97M285.81M307.39M140.41M422.27M251.06M249.9M-201.83M
Depreciation & Amortization-36.05M-40.34M00-57.93M-56.84M-68.91M-81.75M013.04M
Stock-Based Compensation20.72M21.9M24.03M28.15M30.66M53.81M31.65M33.41M30.66M31.83M
Other Non-Cash Items20.71M19.34M-16.39M-19M-25.91M145.34M-74.68M241.55M192.71M482.81M
Working Capital Changes-17.11M-4.05M1.85M-4.97M-8.1M-2.96M3.24M-47.44M-14.42M40.6M
Cash from Investing+-4.82B443.64M-780.75M-4.25B-1.87B-88.25M-5.63B-3.25B1.44B3.5B
Acquisitions (Net)0000000000
Purchase of Investments0-14.73M-20.87M-114.41M-6.52M-133.43M-77.77M-23.06M-233.54M-157.23M
Sale of Investments01000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Investing-4.82B416.8M-766.34M-4.18B-1.91B-45.25M-5.63B-3.58B1.51B3.56B
Cash from Financing+4.69B-699.6M574.74M3.96B1.61B-110.77M5.51B2.61B-1.85B-3.88B
Dividends Paid-166.98M-232.78M-234.99M-277.26M-320.96M-348.91M-370.66M-421.39M-426.93M-404.02M
Common Dividends-166.98M-232.78M-234.99M-277.26M-320.96M-348.91M-370.66M-421.39M-426.93M-404.02M
Debt Issuance (Net)1000K-1000K1000K1000K1000K1000K1000K1000K-1000K-1000K
Share Repurchases000000000-29.23M
Other Financing-41.58M-36.42M-21.46M-21.6M-29.58M-53.94M-34.45M-53.53M-32.17M-45.95M
Net Change in Cash+44.64M-20.88M26.95M3.14M44.43M139.88M261.18M-259.81M58.67M-26.53M
Exchange Rate Effect113K-1000K1000K1000K-1000K1000K-1000K-1000K1000K-1000K
Cash at Beginning51.81M96.45M75.57M102.52M105.66M150.09M289.97M551.15M291.34M350.01M
Cash at End96.45M75.57M102.52M105.66M150.09M289.97M551.15M291.34M350.01M323.48M
Free Cash Flow+171.39M236.65M227.46M290M304.04M336.61M382.48M396.82M458.84M365.86M
FCF Growth %1.13%0.38%-0.04%0.27%0.05%0.11%0.14%0.04%0.16%-0.2%
FCF / Revenue %----------

Key Ratios

Metric2015201620172018201920202021202220232024
FFO per Share0.225.235.596.641.90.573.370.981.43-1.1
FFO Payout Ratio917.21%47.31%43.81%36.69%129.61%431.68%72.55%252.49%173.16%-211.47%
NOI Margin100%100%100%100%100%100%100%100%100%93.8%
Net Debt / EBITDA-14.56x15.83x16.84x--33.93x--13.98x
Debt / Assets72.28%70.71%70.56%75.79%76.07%76.13%78.85%80.63%80.29%79.43%
Interest Coverage1.17x-----1.23x--0.84x
Book Value / Share30.6526.4830.429.6429.0927.5330.4826.6325.4121.83
Revenue Growth117.4%16.75%-7.36%30.83%6.98%1.89%19.04%22.08%6.79%163.59%

Frequently Asked Questions

Growth & Financials

Blackstone Mortgage Trust, Inc. (BXMT) reported $412.5M in revenue for fiscal year 2024.

Blackstone Mortgage Trust, Inc. (BXMT) grew revenue by 163.6% over the past year. This is strong growth.

Yes, Blackstone Mortgage Trust, Inc. (BXMT) is profitable, generating $107.2M in net income for fiscal year 2024 (-11.5% net margin).

Dividend & Returns

Yes, Blackstone Mortgage Trust, Inc. (BXMT) pays a dividend with a yield of 11.92%. This makes it attractive for income-focused investors.

Blackstone Mortgage Trust, Inc. (BXMT) has a return on equity (ROE) of -5.0%. Negative ROE indicates the company is unprofitable.

Industry Metrics

Blackstone Mortgage Trust, Inc. (BXMT) generated Funds From Operations (FFO) of $196.1M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Blackstone Mortgage Trust, Inc. (BXMT) offers a 11.92% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

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