Last 48 quarters of trend data · Real Estate · Mortgage REITs
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | -5.00 | — | — | — | 20.79 | 12.44 | 118.83 | — | 20.73 | — | — | — | — | 31.99 | 8.97 | 6.66 | — | 10.42 | 12.81 | 13.94 | 9.11 |
| — | — | — | — | +0.3% | — | — | — | — | — | — | — | — | +207.0% | -30.0% | -52.2% | — | -23.0% | +43.0% | -2.8% | -24.5% | |
| P/S Ratio | 1.25 | 1.34 | 1.88 | 2.13 | 2.10 | 2.12 | 2.10 | 2.35 | 1.89 | 1.94 | 1.64 | 1.80 | 1.84 | 1.82 | 1.83 | 1.67 | 2.00 | 3.07 | 4.56 | 6.00 | 4.25 |
| — | -36.7% | -10.6% | -9.5% | +11.1% | +9.5% | +28.1% | +30.9% | +2.8% | +6.2% | -10.2% | +7.5% | -8.1% | -40.6% | -59.9% | -72.1% | -52.9% | -46.1% | -24.4% | -2.4% | -21.1% | |
| P/B Ratio | 0.54 | 0.68 | 0.88 | 0.95 | 0.93 | 0.88 | 0.91 | 0.93 | 0.79 | 0.86 | 0.76 | 0.83 | 0.84 | 0.84 | 0.82 | 0.71 | 0.80 | 0.92 | 1.10 | 1.20 | 0.99 |
| — | -23.0% | -3.9% | +1.6% | +17.7% | +2.8% | +20.7% | +12.1% | -5.6% | +2.3% | -8.2% | +17.5% | +5.0% | -9.5% | -24.9% | -40.8% | -19.1% | -12.8% | -7.5% | +2.2% | -4.2% | |
| P/FCF | 18.30 | — | — | 4.77 | 6.00 | — | 14.45 | 8.56 | 8.90 | 9.47 | 7.56 | 9.16 | 8.39 | 8.38 | 7.36 | 7.33 | 6.98 | 13.03 | 13.69 | 15.49 | 8.96 |
| — | — | — | -44.3% | -32.6% | — | +91.1% | -6.6% | +6.0% | +13.1% | +2.8% | +25.0% | +20.2% | -35.7% | -46.2% | -52.7% | -22.1% | +3.2% | -4.1% | +12.7% | -33.1% | |
| EV / EBITDA | 25.85 | — | 16.91 | 21.55 | 16.45 | 14.41 | 16.88 | 18.04 | 13.78 | 19.13 | 18.71 | 24.68 | 16.13 | 14.62 | 12.99 | 13.28 | 26.34 | 19.48 | 27.47 | 30.43 | 24.69 |
| — | — | +0.2% | +19.5% | +19.4% | -24.7% | -9.8% | -26.9% | -14.6% | +30.8% | +44.1% | +85.8% | -38.8% | -24.9% | -52.7% | -56.3% | +6.7% | -36.7% | +31.5% | +6.3% | -4.9% | |
| EV / EBIT | 16.15 | — | 18.26 | 21.55 | 17.27 | 14.92 | 18.05 | 19.32 | 14.30 | 19.03 | 18.75 | 24.68 | 16.13 | 14.62 | 12.99 | 13.28 | 26.34 | 19.48 | 27.47 | 30.43 | 24.69 |
| — | — | +1.2% | +11.6% | +20.8% | -21.6% | -3.7% | -21.7% | -11.3% | +30.2% | +44.4% | +85.8% | -38.8% | -24.9% | -52.7% | -56.3% | +6.7% | -36.7% | +31.5% | +6.3% | -4.9% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 76.9% | 5.6% | 96.2% | 20.4% | 70.3% | 79.9% | 79.3% | 78.2% | 86.0% | 94.6% | 95.9% | 96.1% | 94.7% | 94.4% | 93.6% | 93.6% | 92.5% | 92.6% | 90.3% | 89.9% | 89.4% |
| — | -93.0% | +21.3% | -73.9% | -18.3% | -15.5% | -17.3% | -18.6% | -9.2% | +0.2% | +2.4% | +2.7% | +2.4% | +1.9% | +3.6% | +4.1% | +3.5% | +2.6% | +1.6% | +0.3% | -0.4% | |
| Operating Margin | 71.6% | -32.3% | 65.5% | 12.8% | 68.8% | 82.4% | 69.2% | 66.4% | 82.0% | 62.1% | 60.9% | 45.4% | 70.0% | 74.2% | 87.1% | 90.6% | 49.6% | 87.4% | 82.5% | 86.4% | 82.6% |
| — | -139.2% | -5.3% | -80.7% | -16.1% | +32.8% | +13.6% | +46.2% | +17.1% | -16.4% | -30.1% | -49.9% | +41.2% | -15.0% | +5.6% | +4.8% | -40.0% | +3.8% | -26.1% | +7.3% | -3.7% | |
| Net Margin | 7.2% | -91.3% | -21.4% | -1.7% | 10.2% | 17.0% | 1.8% | -0.1% | 9.4% | -13.2% | -13.2% | -25.7% | -0.5% | 5.7% | 19.7% | 24.4% | -10.5% | 29.3% | 33.2% | 42.8% | 46.1% |
| — | -637.2% | -1305.4% | -1597.1% | +8.7% | +228.4% | +113.4% | +99.6% | +2070.6% | -330.7% | -167.0% | -205.3% | +95.5% | -80.4% | -40.6% | -43.1% | -122.7% | -30.5% | -50.8% | -0.4% | +3.2% |
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 3.0% | -10.7% | -2.4% | -0.2% | 1.1% | 1.8% | 0.2% | -0.0% | 1.0% | -1.4% | -1.5% | -2.9% | -0.1% | 0.7% | 2.2% | 2.6% | -1.0% | 2.2% | 2.0% | 2.1% | 2.8% |
| — | -710.2% | -1376.8% | -1814.7% | +14.7% | +222.5% | +112.8% | +99.7% | +1916.3% | -320.0% | -167.1% | -212.0% | +94.8% | -70.5% | +11.5% | +20.5% | -137.0% | +8.5% | -40.3% | +4.9% | +30.2% | |
| ROA | 0.6% | -1.8% | -0.4% | -0.0% | 0.2% | 0.3% | 0.0% | -0.0% | 0.2% | -0.3% | -0.3% | -0.5% | -0.0% | 0.1% | 0.4% | 0.5% | -0.2% | 0.4% | 0.4% | 0.4% | 0.6% |
| — | -663.6% | -1311.0% | -1666.7% | +10.5% | +223.1% | +112.9% | +99.7% | +1921.2% | -311.9% | -165.7% | -212.8% | +94.8% | -70.6% | +7.4% | +8.9% | -133.2% | -5.3% | -49.5% | -8.5% | +15.5% | |
| ROIC | 4.3% | -0.5% | 1.0% | 0.2% | 1.0% | 1.2% | 1.1% | 1.0% | 1.2% | 0.9% | 0.9% | 0.7% | 1.1% | 1.2% | 1.4% | 1.3% | 0.7% | 0.9% | 0.7% | 0.7% | 0.8% |
| — | -141.5% | -5.0% | -79.9% | -13.9% | +28.4% | +11.5% | +33.6% | +8.2% | -23.4% | -31.7% | -46.4% | +63.3% | +29.0% | +93.2% | +101.3% | -12.4% | +40.8% | -24.7% | -1.3% | +7.3% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 | Q3 '22 | Q2 '22 | Q1 '22 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 4.61 | 5.01 | 4.84 | 4.65 | 4.61 | 4.39 | 4.58 | 4.32 | 4.15 | 4.49 | 4.59 | 4.53 | 4.40 | 4.29 | 4.38 | 4.50 | 4.49 | 4.25 | 4.41 | 4.11 | 3.88 |
| — | +14.0% | +5.9% | +7.7% | +11.3% | -2.2% | -0.3% | -4.7% | -5.7% | +4.7% | +4.7% | +0.6% | -2.0% | +0.9% | -0.7% | +9.5% | +15.7% | +11.5% | +26.6% | +20.8% | +17.2% | |
| Debt / EBITDA | 13.95 | — | 58.64 | 73.73 | 56.04 | 48.99 | 57.41 | 61.46 | 47.08 | 65.31 | 65.39 | 84.99 | 55.00 | 49.86 | 44.62 | 46.93 | 90.52 | 64.74 | 88.95 | 95.50 | 80.64 |
| — | — | +2.1% | +20.0% | +19.0% | -25.0% | -12.2% | -27.7% | -14.4% | +31.0% | +46.5% | +81.1% | -39.2% | -23.0% | -49.8% | -50.9% | +12.2% | -33.5% | +40.1% | +7.6% | +0.2% | |
| Current Ratio | 0.06 | 3.39 | 0.06 | 0.07 | 0.06 | 0.05 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | +6272.8% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| Quick Ratio | 0.06 | 3.39 | 0.06 | 0.07 | 0.06 | 0.05 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | +6272.8% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| Interest Coverage | 1.11 | -0.51 | 1.10 | 0.98 | 1.17 | 1.26 | 1.02 | 1.00 | 1.13 | 0.83 | 0.83 | 0.65 | 1.00 | 1.09 | 1.30 | 1.38 | 0.83 | 1.52 | 1.69 | 2.00 | 2.29 |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying BXMT stock.
Blackstone Mortgage Trust, Inc.'s current P/E is -5.0x. The average P/E over the last 1 quarters is 20.8x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Blackstone Mortgage Trust, Inc.'s current operating margin is 71.6%. Margins have been compressing over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Blackstone Mortgage Trust, Inc.'s business trajectory between earnings reports.