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Blackstone (BX) Financials

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$118.44 -0.07 (-0.06%)
As of 11:52 AM Eastern
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Annual Income Statements for Blackstone

Annual Income Statements for Blackstone

This table shows Blackstone's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 367 -1,212 1,471 1,542 2,050 1,045 5,857 1,748 1,391 2,777 3,019
Consolidated Net Income / (Loss)		 1,624 2,249 3,375 3,264 3,866 2,262 12,375 2,989 2,444 5,438 6,047
Net Income / (Loss) Continuing Operations		 1,281 -1.61 3,375 3,264 3,866 2,262 12,375 2,989 2,444 5,438 6,047
Total Pre-Tax Income 		1,815 2,382 4,118 3,513 3,818 2,618 13,559 3,462 2,958 6,459 7,172
Total Operating Income		 2,394 -2,563 3,393 3,485 3,573 2,789 13,101 3,545 3,042 6,411 6,748
Total Gross Profit		 5,561 -620 7,145 6,833 6,135 5,413 22,577 8,518 8,023 13,230 14,450
Total Revenue		 7,852 1,583 7,145 6,833 6,135 5,413 22,577 8,518 8,023 13,230 14,450
Operating Revenue		 7,852 1,583 7,145 6,833 6,135 5,413 22,577 8,518 8,023 13,230 14,450
Total Cost of Revenue		 2,291 2,203 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses		 3,168 1,943 3,752 3,348 2,562 2,625 9,477 4,973 4,981 6,819 7,703
Selling, General & Admin Expense		 576 542 3,422 1,626 679 712 9,268 4,625 4,430 6,356 7,145
Other Operating Expenses / (Income)		 2,592 1,402 330 1,722 1,882 1,913 209 348 551 463 558
Total Other Income / (Expense), net		 -922 2,694 725 28 245 -171 459 -83 -84 49 424
Other Income / (Expense), net		 518 370 725 192 444 -4.84 459 -83 -84 49 424
Income Tax Expense		 190 132 743 249 -48 356 1,184 473 513 1,022 1,125
Net Income / (Loss) Attributable to Noncontrolling Interest		 915 1,210 1,904 1,722 1,816 1,216 6,518 1,241 1,053 2,661 3,027
Basic Earnings per Share		 $1.12 $1.60 $2.21 $2.27 $3.03 $1.50 $8.14 $2.36 $1.84 $3.62 $3.87
Weighted Average Basic Shares Outstanding		 634.34M 649.48M 665.45M 678.85M 675.90M 696.93M 719.77M 740.66M 755.20M 766.49M 780.02M
Diluted Earnings per Share		 $1.04 $1.56 $2.21 $2.26 $3.03 $1.50 $8.13 $2.36 $1.84 $3.62 $3.87
Weighted Average Diluted Shares Outstanding		 1.19B 1.20B 666.25M 1.21B 676.17M 697.26M 720.13M 740.94M 755.42M 766.65M 780.22M
Weighted Average Basic & Diluted Shares Outstanding		 565.22M 587.61M 659.09M 658.59M 673.61M 683.84M 700.39M 706.37M 714.64M 729.42M 742.18M
Cash Dividends to Common per Share		 $2.90 $1.66 $2.32 $2.42 $1.92 $1.91 $3.57 $4.94 $3.32 $3.45 $4.69

Quarterly Income Statements for Blackstone

This table shows Blackstone's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 552 152 847 444 781 704 615 764 625 1,015 650
Consolidated Net Income / (Loss)		 921 109 1,596 948 1,565 1,329 1,209 1,626 1,237 1,975 1,258
Net Income / (Loss) Continuing Operations		 921 109 1,596 948 1,565 1,329 1,209 1,626 1,237 1,975 1,258
Total Pre-Tax Income 		1,117 155 1,880 1,209 1,810 1,561 1,453 1,916 1,447 2,357 1,455
Total Operating Income		 1,166 343 1,897 1,164 1,767 1,582 1,395 1,779 1,338 2,235 1,355
Total Gross Profit		 2,541 1,285 3,688 2,796 3,663 3,083 3,289 3,712 3,089 4,360 3,618
Total Revenue		 2,541 1,285 3,688 2,796 3,663 3,083 3,289 3,712 3,089 4,360 3,618
Operating Revenue		 2,541 1,285 3,688 2,796 3,663 3,083 3,289 3,712 3,089 4,360 3,618
Total Cost of Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Operating Expenses		 1,375 942 1,790 1,633 1,896 1,500 1,894 1,933 1,751 2,125 2,262
Selling, General & Admin Expense		 1,225 833 1,678 1,518 1,781 1,378 1,764 1,782 1,614 1,984 2,117
Other Operating Expenses / (Income)		 150 109 112 115 115 122 130 150 136 141 145
Total Other Income / (Expense), net		 -49 -188 -18 45 43 -21 58 136 109 121 100
Other Income / (Expense), net		 -49 -188 -18 45 43 -21 58 136 109 121 100
Income Tax Expense		 197 46 284 260 245 232 244 289 210 382 197
Net Income / (Loss) Attributable to Noncontrolling Interest		 369 -43 749 504 784 625 594 862 612 960 608
Basic Earnings per Share		 $0.73 $0.20 $1.12 $0.58 $1.02 $0.90 $0.80 $0.98 $0.80 $1.29 $0.83
Weighted Average Basic Shares Outstanding		 757.96M 755.20M 759.80M 769.19M 768.23M 766.49M 771.80M 782.39M 782.63M 780.02M 785.33M
Diluted Earnings per Share		 $0.73 $0.21 $1.11 $0.58 $1.02 $0.91 $0.80 $0.98 $0.80 $1.29 $0.83
Weighted Average Diluted Shares Outstanding		 758.05M 755.42M 760.26M 769.23M 768.28M 766.65M 772.43M 782.40M 782.68M 780.22M 786.30M
Weighted Average Basic & Diluted Shares Outstanding		 710.54M 714.64M 720.08M - 722.00M 729.42M 729.65M 737.09M 738.45M 742.18M 742.88M
Cash Dividends to Common per Share		 $0.79 $0.80 $0.94 - - - $1.44 - - - $1.49

Annual Cash Flow Statements for Blackstone

This table details how cash moves in and out of Blackstone's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 425 460 1,076 -2,596 -22 -459 135 2,294 -1,222 -1,096 678
Net Cash From Operating Activities		 2,397 -89 -1,626 46 1,963 1,936 3,986 6,336 4,057 3,482 4,663
Net Cash From Continuing Operating Activities		 2,397 -89 -1,626 -1,159 1,963 1,936 3,986 6,304 4,057 3,482 4,663
Net Income / (Loss) Continuing Operations		 1,624 2,249 3,375 3,264 3,866 2,262 12,375 2,989 2,444 5,438 6,047
Consolidated Net Income / (Loss)		 1,624 2,249 3,375 3,264 3,866 2,262 12,375 2,989 2,444 5,438 6,047
Amortization Expense		 101 83 47 59 71 71 75 67 40 36 36
Non-Cash Adjustments To Reconcile Net Income		 2,530 -1,858 -3,405 -3,529 -974 481 -7,248 5,020 2,408 -913 63
Changes in Operating Assets and Liabilities, net		 -1,858 -562 -1,643 -953 -999 -878 -1,216 -1,771 -836 -1,079 -1,482
Net Cash From Investing Activities		 -53 -22 -193 -117 -60 -167 -64 -235 -230 -61 -116
Net Cash From Continuing Investing Activities		 -53 -22 -193 -117 -60 -167 -64 -235 -230 -61 -116
Purchase of Property, Plant & Equipment		 -59 -22 -24 -18 -60 -112 -64 -235 -224 -61 -116
Acquisitions		 0.00 0.00 -169 -98 0.00 -55 0.00 0.00 -5.42 0.00 0.00
Net Cash From Financing Activities		 -1,919 570 2,771 -1,330 -1,921 -2,244 -3,777 -3,794 -5,054 -4,502 -3,879
Net Cash From Continuing Financing Activities		 -1,919 570 2,771 -1,330 -1,921 -2,244 -3,777 -3,794 -5,054 -4,502 -3,879
Repayment of Debt		 -518 -421 -1,766 -1,009 -403 -1.89 0.00 -281 -502 -103 -1,813
Repurchase of Common Equity		 -61 -28 -30 -567 -585 -505 -1,273 -466 -418 -661 -312
Payment of Dividends		 -4,174 -2,553 -3,657 -3,809 -3,163 -3,133 -5,950 -7,791 -5,272 -5,298 -7,049
Issuance of Debt		 2,424 3,321 7,600 3,218 1,550 889 2,223 3,522 495 741 2,814
Issuance of Common Equity		 480 329 760 837 765 581 1,275 1,268 708 907 2,525
Other Financing Activities, net		 -70 -79 -136 0.00 -85 -74 -51 -47 -65 -88 -44
Other Net Changes in Cash		 - - 124 9.71 -2.96 16 - -12 4.99 -15 9.84
Cash Interest Paid		 126 152 160 170 167 177 194 262 400 407 464
Cash Income Taxes Paid		 116 66 106 193 159 209 701 683 569 647 563

Quarterly Cash Flow Statements for Blackstone

This table details how cash moves in and out of Blackstone's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -386 162 -600 -64 -74 -343 1,224 -867 300 22 -144
Net Cash From Operating Activities		 1,083 896 940 1,159 1,222 161 1,109 889 1,598 1,068 991
Net Cash From Continuing Operating Activities		 1,083 896 940 1,159 1,200 184 1,109 889 1,598 1,068 991
Net Income / (Loss) Continuing Operations		 921 109 1,596 948 1,565 1,329 1,209 1,626 1,237 1,975 1,258
Consolidated Net Income / (Loss)		 921 109 1,596 948 1,565 1,329 1,209 1,626 1,237 1,975 1,258
Amortization Expense		 9.01 9.00 8.98 8.98 8.98 9.02 8.98 8.97 8.98 9.10 9.04
Non-Cash Adjustments To Reconcile Net Income		 -101 906 -233 497 -610 -568 -280 303 266 -226 494
Changes in Operating Assets and Liabilities, net		 254 -128 -432 -296 236 -586 172 -1,049 86 -690 -770
Net Cash From Investing Activities		 -63 -31 -18 -12 -19 -12 -29 -40 -24 -22 -33
Net Cash From Continuing Investing Activities		 -63 -31 -18 -12 -19 -12 -29 -40 -24 -22 -33
Purchase of Property, Plant & Equipment		 -63 -31 -18 -12 -19 -12 -29 -40 -24 -22 -33
Net Cash From Financing Activities		 -1,401 -712 -1,516 -1,217 -1,279 -490 139 -1,711 -1,287 -1,020 -1,094
Net Cash From Continuing Financing Activities		 -1,401 -712 -1,516 -1,217 -1,279 -490 139 -1,711 -1,287 -1,020 -1,094
Repayment of Debt		 -40 -33 -22 -38 -23 -19 -61 -645 -200 -907 -48
Repurchase of Common Equity		 -175 -44 -136 -248 -216 -60 -100 -35 -126 -51 -66
Payment of Dividends		 -1,385 -1,247 -1,435 -1,284 -1,268 -1,312 -2,111 -1,445 -1,660 -1,833 -2,274
Issuance of Debt		 - - 0.00 - - - 1,025 - 202 1,587 900
Issuance of Common Equity		 200 117 165 354 228 160 1,431 414 497 184 458
Other Financing Activities, net		 - - -88 - - - -44 - - - -64
Other Net Changes in Cash		 -5.53 10 -5.96 - - - 4.57 - - -3.41 -7.94
Cash Interest Paid		 76 108 76 95 98 138 96 152 101 114 104
Cash Income Taxes Paid		 130 109 172 242 78 155 65 232 56 210 76

Annual Balance Sheets for Blackstone

This table presents Blackstone's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 22,526 26,403 34,416 28,925 32,586 26,269 41,196 42,524 40,288 43,470 47,709
Total Current Assets		 2,450 2,610 2,868 23,221 3,148 2,866 31,421 36,415 33,762 37,420 41,493
Cash & Equivalents		 1,837 1,837 1,992 2,208 2,172 1,999 2,120 4,252 2,956 1,972 2,631
Short-Term Investments		 - - - 20,377 - - 28,665 27,553 26,147 29,801 32,212
Accounts Receivable		 613 773 875 636 975 866 637 4,610 4,660 5,647 6,649
Plant, Property, & Equipment, net		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Noncurrent Assets		 20,076 23,793 31,548 5,704 29,438 23,404 9,775 6,109 6,525 6,050 6,216
Goodwill		 1,719 1,719 1,778 1,870 1,870 1,901 1,890 1,890 1,890 1,890 1,890
Intangible Assets		 346 263 410 469 398 348 284 217 201 165 131
Noncurrent Deferred & Refundable Income Taxes		 1,277 1,286 726 739 1,089 1,243 1,582 2,063 2,331 2,004 2,056
Other Noncurrent Operating Assets		 16,734 20,526 28,634 2,626 26,081 19,912 6,019 1,939 2,102 1,991 2,139
Total Liabilities & Shareholders' Equity		 22,526 26,403 34,416 28,925 32,586 26,269 41,196 42,524 40,288 43,470 47,709
Total Liabilities		 10,296 13,888 20,693 15,171 17,482 11,679 19,490 22,843 22,212 23,975 25,828
Total Current Liabilities		 649 1,297 2,198 1,019 882 768 965 1,252 2,277 2,792 2,886
Accounts Payable		 649 1,082 2,044 876 806 717 937 1,252 2,277 2,792 2,886
Total Noncurrent Liabilities		 9,647 12,591 18,495 14,152 16,601 10,911 18,525 21,591 19,935 21,183 22,942
Long-Term Debt		 6,117 8,866 14,815 9,952 11,081 5,645 7,748 12,350 11,304 11,321 12,445
Noncurrent Employee Benefit Liabilities		 2,030 2,328 2,623 2,942 3,796 3,433 7,905 6,102 5,248 6,088 6,411
Other Noncurrent Operating Liabilities		 1,500 1,397 1,056 1,258 1,724 1,833 2,872 3,140 3,383 3,774 4,085
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Redeemable Noncontrolling Interest		 183 185 211 142 88 65 68 1,715 1,179 801 1,381
Total Equity & Noncontrolling Interests		 12,047 12,330 13,512 13,612 15,015 14,525 21,638 17,966 16,896 18,694 20,501
Total Preferred & Common Equity		 6,270 6,461 6,634 6,379 7,010 6,652 9,423 7,656 6,817 8,212 8,666
Preferred Stock		 - - - - - - - 0.00 0.00 0.00 0.00
Total Common Equity		 6,270 6,461 6,634 6,379 7,010 6,652 9,423 7,656 6,817 8,212 8,666
Common Stock		 6,322 6,524 6,669 6,416 6,429 6,332 5,795 5,935 6,175 7,445 8,480
Retained Earnings		 - - - 0.00 610 336 3,648 1,748 661 808 192
Accumulated Other Comprehensive Income / (Loss)		 -53 -63 -34 -36 -28 -16 -20 -27 -19 -40 -6.01
Noncontrolling Interest		 5,777 5,869 6,878 7,233 8,006 7,873 12,215 10,310 10,079 10,481 11,835

Quarterly Balance Sheets for Blackstone

This table presents Blackstone's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 12/31/2023 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 41,086 41,583 41,664 40,288 40,585 42,575 43,470 45,256 45,373 46,554 48,327
Total Current Assets		 30,742 35,287 35,404 33,762 33,923 36,140 37,420 38,302 39,246 40,348 42,164
Cash & Equivalents		 2,831 3,280 2,972 2,956 2,381 2,353 1,972 2,387 2,235 2,431 2,448
Short-Term Investments		 26,986 27,049 27,340 26,147 26,426 28,323 29,801 30,259 31,136 31,528 32,748
Accounts Receivable		 925 4,958 5,092 4,660 5,116 5,464 5,647 5,655 5,875 6,389 6,968
Plant, Property, & Equipment, net		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Noncurrent Assets		 10,345 6,080 6,122 6,525 6,662 6,436 6,050 6,954 6,127 6,206 6,163
Goodwill		 1,890 1,890 1,890 1,890 1,890 1,890 1,890 1,890 1,890 1,890 1,890
Intangible Assets		 230 219 210 201 183 174 165 156 147 140 122
Noncurrent Deferred & Refundable Income Taxes		 2,207 2,177 2,185 2,331 2,290 2,278 2,004 2,158 2,105 2,100 2,067
Other Noncurrent Operating Assets		 6,017 1,794 1,837 2,102 2,298 2,093 1,991 2,750 1,985 2,075 2,083
Total Liabilities & Shareholders' Equity		 41,086 41,583 41,664 40,288 40,585 42,575 43,470 45,256 45,373 46,554 48,327
Total Liabilities		 22,373 22,492 22,853 22,212 21,911 23,111 23,975 25,391 24,294 25,193 26,910
Total Current Liabilities		 1,580 7,064 7,572 2,277 2,013 2,203 2,792 2,472 2,498 2,918 3,108
Accounts Payable		 1,576 1,378 1,589 2,277 2,013 2,203 2,792 2,472 2,498 2,918 3,108
Total Noncurrent Liabilities		 20,793 15,425 15,281 19,935 19,898 20,908 21,183 22,918 21,796 22,275 23,803
Long-Term Debt		 12,311 12,300 12,111 11,304 10,688 10,752 11,321 12,455 12,009 12,003 13,280
Noncurrent Employee Benefit Liabilities		 5,471 - - 5,248 5,703 6,398 6,088 6,165 6,066 6,386 6,396
Other Noncurrent Operating Liabilities		 3,011 3,125 3,170 3,383 3,506 3,757 3,774 4,299 3,721 3,886 4,126
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Redeemable Noncontrolling Interest		 1,645 1,626 1,349 1,179 889 893 801 1,382 1,487 1,476 1,400
Total Equity & Noncontrolling Interests		 17,069 17,464 17,462 16,896 17,785 18,572 18,694 18,483 19,592 19,885 20,016
Total Preferred & Common Equity		 7,091 7,219 7,133 6,817 6,834 7,008 8,212 7,978 8,352 8,393 8,371
Preferred Stock		 - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 7,091 7,219 7,133 6,817 6,834 7,008 8,212 7,978 8,352 8,393 8,371
Common Stock		 5,957 6,076 6,057 6,175 6,261 6,258 7,445 7,687 7,989 8,214 8,710
Retained Earnings		 1,156 1,160 1,114 661 608 760 808 320 363 184 -324
Accumulated Other Comprehensive Income / (Loss)		 -22 -17 -38 -19 -35 -11 -40 -29 1.06 -5.60 -16
Noncontrolling Interest		 9,978 10,245 10,329 10,079 10,952 11,564 10,481 10,504 11,239 11,493 11,646

Annual Metrics And Ratios for Blackstone

This table displays calculated financial ratios and metrics derived from Blackstone's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 - - - - - - - - - - 738,450,871.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 738,450,871.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 4.09
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Net Operating Profit after Tax (NOPAT)		 2,143 -2,421 2,780 3,238 3,618 2,409 11,956 3,060 2,514 5,397 5,689
Return On Investment Capital (ROIC_SIMPLE)		 11.80% -11.42% 9.82% 13.74% 13.86% 11.94% 40.69% 10.10% 8.91% 17.98% 17.27%
Earnings before Interest and Taxes (EBIT)		 2,912 -2,194 4,118 3,677 4,018 2,784 13,559 3,462 2,958 6,459 7,172
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 3,013 -2,111 4,165 3,736 4,089 2,855 13,634 3,529 2,998 6,495 7,208
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 10,478 -5,455 -4,222 28,663 -19,272 8,185 31,522 1,504 2,462 6,630 5,249
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 16,510 19,544 26,546 1,121 24,011 18,236 -1,331 225 277 -957 -517
Increase / (Decrease) in Invested Capital		 -8,335 3,034 7,002 -25,425 22,890 -5,776 -19,566 1,556 51 -1,234 440
Book Value per Share		 $11.23 $11.30 $10.52 $9.63 $10.63 $9.87 $13.72 $10.91 $9.59 $11.37 $11.73
Tangible Book Value per Share		 $7.53 $7.83 $7.05 $6.10 $7.19 $6.53 $10.55 $7.91 $6.65 $8.53 $9.00
Total Capital		 18,347 21,381 28,539 23,706 26,184 20,235 29,454 32,031 29,379 30,816 34,326
Total Debt		 6,117 8,866 14,815 9,952 11,081 5,645 7,748 12,350 11,304 11,321 12,445
Total Long-Term Debt		 6,117 8,866 14,815 9,952 11,081 5,645 7,748 12,350 11,304 11,321 12,445
Net Debt		 4,279 7,029 12,823 -12,633 8,908 3,645 -23,037 -19,456 -17,798 -20,452 -22,398
Capital Expenditures (CapEx)		 59 22 24 18 60 112 64 235 224 61 116
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -36 -524 -1,323 -382 93 98 -328 3,358 2,383 2,855 3,763
Debt-free Net Working Capital (DFNWC)		 1,802 1,313 670 22,203 2,266 2,098 30,456 35,163 31,485 34,628 38,607
Net Working Capital (NWC)		 1,802 1,313 670 22,203 2,266 2,098 30,456 35,163 31,485 34,628 38,607
Net Nonoperating Expense (NNE)		 518 -4,670 -595 -26 -248 148 -419 72 69 -41 -357
Net Nonoperating Obligations (NNO)		 4,279 7,029 12,823 -12,633 8,908 3,645 -23,037 -19,456 -17,798 -20,452 -22,398
Total Depreciation and Amortization (D&A)		 101 83 47 59 71 71 75 67 40 36 36
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.12 $1.60 $2.21 $2.27 $3.03 $1.50 $8.14 $2.36 $1.84 $3.62 $3.87
Adjusted Weighted Average Basic Shares Outstanding		 634.34M 649.48M 665.45M 678.85M 675.90M 696.93M 719.77M 740.66M 755.20M 766.49M 780.02M
Adjusted Diluted Earnings per Share		 $1.04 $1.56 $2.21 $2.26 $3.03 $1.50 $8.13 $2.36 $1.84 $3.62 $3.87
Adjusted Weighted Average Diluted Shares Outstanding		 1.19B 1.20B 666.25M 1.21B 676.17M 697.26M 720.13M 740.94M 755.42M 766.65M 780.22M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 565.22M 587.61M 659.09M 658.59M 673.61M 683.84M 700.39M 706.37M 714.64M 729.42M 742.18M
Normalized Net Operating Profit after Tax (NOPAT)		 2,143 -2,421 2,780 3,238 2,501 2,409 11,956 3,060 2,514 5,397 5,689
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

Quarterly Metrics And Ratios for Blackstone

This table displays calculated financial ratios and metrics derived from Blackstone's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 6/30/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - 738,450,871.00 742,180,737.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 738,450,871.00 742,180,737.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 1.37 0.88
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 140.17% -55.60% 102.37% -0.65% 44.15% 139.88% -10.80% 32.74% -15.68% - 9.98%
EBITDA Growth		 898.30% -70.18% 348.71% -15.21% 60.70% 857.02% -22.61% 58.07% -19.98% - 0.17%
EBIT Growth		 1,040.91% -71.04% 367.81% -15.30% 61.99% 906.76% -22.72% 58.50% -20.08% - 0.17%
NOPAT Growth		 26,194.29% -65.46% 481.68% -19.18% 58.93% 457.31% -27.94% 65.41% -25.11% - 0.93%
Net Income Growth		 24,784.92% -85.32% 350.14% -21.21% 69.93% 1,117.73% -24.26% 71.47% -20.94% - 4.06%
EPS Growth		 0.00% -71.62% 427.27% -26.58% 39.73% 333.33% -27.93% 68.97% -21.57% - 3.75%
Operating Cash Flow Growth		 10.17% 25.25% 166.45% -32.86% 0.00% -81.98% 18.02% -23.31% 30.76% - -10.65%
Free Cash Flow Firm Growth		 -101.03% 122.22% 141.12% 434.00% 1,087.73% 1,256.07% -9.81% 1.74% -47.94% - -34.21%
Invested Capital Growth		 164.04% 22.80% -54.09% 0.00% -197.12% -445.66% -158.93% 0.00% -29.68% - -52.66%
Revenue Q/Q Growth		 -9.71% -49.43% 117.61% -24.17% 0.00% -15.85% 0.00% 12.84% -16.79% - -17.03%
EBITDA Q/Q Growth		 -21.57% -85.43% 642.06% -35.53% 0.00% -13.67% 0.00% 31.68% -24.37% - -38.12%
EBIT Q/Q Growth		 -21.70% -86.12% 679.35% -35.70% 0.00% -13.74% 0.00% 31.88% -24.49% - -38.26%
NOPAT Q/Q Growth		 -14.93% -74.86% 277.83% -43.32% 0.00% -11.83% 0.00% 30.11% -24.26% - -37.45%
Net Income Q/Q Growth		 -23.51% -88.15% 769.08% -40.58% 0.00% -15.07% 0.00% 34.53% -23.93% - -36.30%
EPS Q/Q Growth		 -7.59% -71.23% 176.19% -47.75% 0.00% -10.78% 0.00% 22.50% -18.37% - -35.66%
Operating Cash Flow Q/Q Growth		 -37.24% -17.29% 4.93% 23.27% 0.00% -86.79% 587.23% -19.90% 79.81% - -7.19%
Free Cash Flow Firm Q/Q Growth		 52.84% 176.44% 723.36% -22.15% 0.00% 4.94% 0.00% -12.19% -28.63% - -6.24%
Invested Capital Q/Q Growth		 -44.41% -41.41% 100.43% -100.00% 0.00% -108.50% 0.00% 13.36% -110.07% - 3.47%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% - 100.00%
EBITDA Margin		 44.32% 12.77% 43.54% 43.54% 49.41% 50.94% 44.43% 51.85% 47.13% - 40.47%
Operating Margin		 45.90% 26.73% 41.61% 41.61% 48.24% 51.34% 42.41% 47.93% 43.32% - 37.46%
EBIT Margin		 43.97% 12.07% 43.22% 43.22% 49.41% 50.65% 44.16% 51.61% 46.84% - 40.22%
Profit (Net Income) Margin		 36.23% 8.49% 33.91% 33.91% 42.71% 43.11% 36.75% 43.81% 40.05% - 34.77%
Tax Burden Percent		 82.41% 70.37% 78.47% 78.47% 86.45% 85.11% 83.21% 84.89% 85.51% - 86.45%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% - 100.00%
Effective Tax Rate		 17.59% 29.63% 21.53% 21.53% 13.55% 14.89% 16.79% 15.11% 14.49% - 13.55%
Return on Invested Capital (ROIC)		 0.00% 600.91% 349.56% 0.00% 0.00% 0.00% 3,975.40% 0.00% 0.00% - 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 601.62% 349.36% 0.00% 0.00% 0.00% 3,975.15% 0.00% 0.00% - 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% -593.62% -332.89% 0.00% 0.00% 0.00% -3,951.66% 0.00% 0.00% - 0.00%
Return on Equity (ROE)		 15.97% 7.29% 16.67% 0.00% 0.00% 28.95% 23.75% 27.18% 26.46% - 29.53%
Cash Return on Invested Capital (CROIC)		 368.71% 980.63% 444.77% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Operating Return on Assets (OROA)		 10.34% 2.34% 9.99% 0.00% 0.00% 16.00% 13.20% 15.64% 13.84% - 12.70%
Return on Assets (ROA)		 8.52% 1.65% 7.84% 0.00% 0.00% 13.62% 10.99% 13.27% 11.84% - 10.98%
Return on Common Equity (ROCE)		 6.10% 2.79% 6.21% 0.00% 0.00% 11.58% 9.13% 10.77% 9.98% - 11.70%
Return on Equity Simple (ROE_SIMPLE)		 43.16% 0.00% 46.56% 0.00% 0.00% 0.00% 63.31% 0.00% 0.00% - 0.00%
Net Operating Profit after Tax (NOPAT)		 961 242 913 913 1,528 1,347 1,161 1,510 1,144 1,873 1,172
NOPAT Margin		 37.82% 18.81% 32.65% 32.65% 41.70% 43.69% 35.29% 40.69% 37.04% - 32.39%
Net Nonoperating Expense Percent (NNEP)		 -0.21% -0.71% 0.20% 0.00% 0.19% -0.09% 0.25% 1.08% 0.44% - 0.41%
Return On Investment Capital (ROIC_SIMPLE)		 3.25% 0.86% 3.21% - 5.21% 4.49% 3.75% 4.78% 3.59% 5.69% 3.52%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
SG&A Expenses to Revenue		 48.22% 64.81% 54.29% 54.29% 48.63% 44.71% 53.63% 48.02% 52.27% - 58.53%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Operating Expenses to Revenue		 54.10% 73.27% 58.39% 58.39% 51.76% 48.66% 57.59% 52.07% 56.68% - 62.54%
Earnings before Interest and Taxes (EBIT)		 1,117 155 1,209 1,209 1,810 1,561 1,453 1,916 1,447 2,357 1,455
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1,126 164 1,218 1,218 1,810 1,570 1,462 1,925 1,456 2,366 1,464
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 10.10 13.03 12.47 0.00 15.13 14.42 12.21 12.49 14.16 - 9.55
Price to Tangible Book Value (P/TBV)		 14.32 18.80 17.90 0.00 21.45 19.23 16.42 16.52 18.68 - 12.58
Price to Revenue (P/Rev)		 7.48 11.07 9.03 8.16 0.00 8.95 7.59 7.59 9.02 - 5.41
Price to Earnings (P/E)		 40.10 63.86 48.71 42.14 0.00 42.65 38.29 36.43 43.89 - 26.18
Dividend Yield		 3.33% 2.62% 2.77% 2.80% 2.24% 2.04% 2.85% 2.72% 2.52% - 4.16%
Earnings Yield		 2.49% 1.57% 2.05% 2.37% 0.00% 2.34% 2.61% 2.74% 2.28% - 3.82%
Enterprise Value to Invested Capital (EV/IC)		 138.72 297.29 142.28 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Enterprise Value to Revenue (EV/Rev)		 6.80 10.26 8.36 0.00 0.00 8.26 6.94 6.96 8.34 - 4.81
Enterprise Value to EBITDA (EV/EBITDA)		 19.37 27.45 20.01 0.00 0.00 16.82 14.68 14.13 17.13 - 9.86
Enterprise Value to EBIT (EV/EBIT)		 19.63 27.82 20.20 0.00 0.00 16.91 14.77 14.20 17.23 - 9.91
Enterprise Value to NOPAT (EV/NOPAT)		 22.20 32.74 24.16 0.00 0.00 20.24 18.01 17.26 21.28 - 12.47
Enterprise Value to Operating Cash Flow (EV/OCF)		 16.91 20.28 17.00 0.00 23.37 31.38 24.40 28.31 29.24 - 15.64
Enterprise Value to Free Cash Flow (EV/FCFF)		 37.62 33.42 20.13 0.00 0.00 16.48 15.29 16.42 20.73 - 12.11
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.64 0.63 0.57 0.00 0.55 0.58 0.63 0.57 0.56 - 0.62
Long-Term Debt to Equity		 0.64 0.63 0.57 0.00 0.55 0.58 0.63 0.57 0.56 - 0.62
Financial Leverage		 -1.01 -0.99 -0.95 0.00 -1.00 -1.02 -0.99 -1.01 -1.03 - -1.02
Leverage Ratio		 2.13 2.19 2.18 0.00 2.20 2.23 2.23 2.15 2.18 - 2.27
Compound Leverage Factor		 2.13 2.19 2.18 0.00 2.20 2.23 2.23 2.15 2.18 - 2.27
Debt to Total Capital		 39.17% 38.48% 36.40% 0.00% 35.58% 36.74% 38.54% 36.29% 35.97% - 38.28%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Long-Term Debt to Total Capital		 39.17% 38.48% 36.40% 0.00% 35.58% 36.74% 38.54% 36.29% 35.97% - 38.28%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Noncontrolling Interests to Total Capital		 37.77% 38.32% 40.33% 0.00% 41.23% 36.61% 36.78% 38.46% 38.87% - 37.60%
Common Equity to Total Capital		 23.07% 23.20% 23.27% 0.00% 23.19% 26.65% 24.69% 25.24% 25.15% - 24.13%
Debt to EBITDA		 3.58 3.77 2.71 0.00 0.00 1.74 2.05 1.77 1.87 - 1.84
Net Debt to EBITDA		 -5.38 -5.94 -4.59 0.00 0.00 -3.15 -3.33 -3.15 -3.42 - -3.04
Long-Term Debt to EBITDA		 3.58 3.77 2.71 0.00 0.00 1.74 2.05 1.77 1.87 - 1.84
Debt to NOPAT		 4.10 4.50 3.27 0.00 0.00 2.10 2.52 2.17 2.33 - 2.33
Net Debt to NOPAT		 -6.17 -7.08 -5.55 0.00 0.00 -3.79 -4.08 -3.85 -4.25 - -3.85
Long-Term Debt to NOPAT		 4.10 4.50 3.27 0.00 0.00 2.10 2.52 2.17 2.33 - 2.33
Altman Z-Score		 3.05 3.57 3.63 0.00 0.00 4.37 3.65 4.00 4.19 - 3.15
Noncontrolling Interest Sharing Ratio		 61.82% 61.67% 62.76% 0.00% 0.00% 60.00% 61.57% 60.38% 62.28% - 60.40%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 4.68 14.83 16.85 0.00 16.41 13.40 15.49 15.71 13.83 - 13.57
Quick Ratio		 4.68 14.83 16.85 0.00 16.41 13.40 15.49 15.71 13.83 - 13.57
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -249 190 1,567 1,763 2,459 2,580 2,043 1,794 1,280 1,433 1,344
Operating Cash Flow to CapEx		 1,728.02% 2,859.16% 5,293.12% 9,358.33% 0.00% 1,357.94% 3,788.57% 2,213.18% 6,676.61% - 2,966.40%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.24 0.19 0.23 0.00 0.00 0.32 0.30 0.30 0.30 - 0.32
Accounts Receivable Turnover		 3.25 1.73 3.12 0.00 0.00 2.57 2.38 2.34 2.22 - 2.34
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Days Sales Outstanding (DSO)		 112.32 210.86 116.81 0.00 0.00 142.18 153.19 155.98 164.22 - 155.89
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Cash Conversion Cycle (CCC)		 112.32 210.86 116.81 0.00 0.00 142.18 153.19 155.98 164.22 - 155.89
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 472 277 555 0.00 -459 -957 -327 -283 -595 -517 -499
Invested Capital Turnover		 -72.63 31.95 10.71 0.00 0.00 -38.91 112.65 -97.07 -25.00 - -35.78
Increase / (Decrease) in Invested Capital		 1,210 51 -654 -850 -931 -1,234 -882 -283 -136 440 -172
Enterprise Value (EV)		 65,540 82,286 78,930 0.00 98,541 109,249 89,103 95,702 109,857 - 71,087
Market Capitalization		 72,062 88,826 85,208 84,101 106,008 118,418 97,408 104,338 118,844 - 79,957
Book Value per Share		 $10.05 $9.59 $9.56 $0.00 $9.73 $10.71 $10.94 $11.45 $11.39 $11.73 $11.28
Tangible Book Value per Share		 $7.09 $6.65 $6.66 $0.00 $6.86 $8.03 $8.13 $8.65 $8.63 $9.00 $8.57
Total Capital		 30,922 29,379 29,362 0.00 30,217 30,816 32,319 33,088 33,364 34,326 34,697
Total Debt		 12,111 11,304 10,688 0.00 10,752 11,321 12,455 12,009 12,003 12,445 13,280
Total Long-Term Debt		 12,111 11,304 10,688 0.00 10,752 11,321 12,455 12,009 12,003 12,445 13,280
Net Debt		 -18,200 -17,798 -18,120 0.00 -19,924 -20,452 -20,192 -21,362 -21,956 -22,398 -21,916
Capital Expenditures (CapEx)		 63 31 18 12 0.00 12 29 40 24 22 33
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -2,480 2,383 3,103 0.00 3,261 2,855 3,183 3,377 3,471 3,763 3,860
Debt-free Net Working Capital (DFNWC)		 27,832 31,485 31,910 0.00 33,937 34,628 35,829 36,748 37,430 38,607 39,057
Net Working Capital (NWC)		 27,832 31,485 31,910 0.00 33,937 34,628 35,829 36,748 37,430 38,607 39,057
Net Nonoperating Expense (NNE)		 40 133 -35 -35 -37 18 -48 -116 -93 -102 -86
Net Nonoperating Obligations (NNO)		 -18,338 -17,798 -18,120 0.00 -19,924 -20,452 -20,192 -21,362 -21,956 -22,398 -21,916
Total Depreciation and Amortization (D&A)		 9.01 9.00 8.98 8.98 0.00 9.02 8.98 8.97 8.98 9.10 9.04
Debt-free, Cash-free Net Working Capital to Revenue		 -25.75% 29.70% 32.88% 0.00% 0.00% 21.58% 24.81% 24.56% 26.35% - 26.12%
Debt-free Net Working Capital to Revenue		 288.96% 392.44% 338.13% 0.00% 0.00% 261.74% 279.23% 267.31% 284.15% - 264.28%
Net Working Capital to Revenue		 288.96% 392.44% 338.13% 0.00% 0.00% 261.74% 279.23% 267.31% 284.15% - 264.28%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.73 $0.20 $0.58 $0.00 $1.02 $0.90 $0.80 $0.98 $0.80 $1.29 $0.83
Adjusted Weighted Average Basic Shares Outstanding		 757.96M 755.20M 769.19M 0.00 768.23M 766.49M 771.80M 782.39M 782.63M 780.02M 785.33M
Adjusted Diluted Earnings per Share		 $0.73 $0.21 $0.58 $0.00 $1.02 $0.91 $0.80 $0.98 $0.80 $1.29 $0.83
Adjusted Weighted Average Diluted Shares Outstanding		 758.05M 755.42M 769.23M 0.00 768.28M 766.65M 772.43M 782.40M 782.68M 780.22M 786.30M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 710.54M 714.64M 720.08M 0.00 722.00M 729.42M 729.65M 737.09M 738.45M 742.18M 742.88M
Normalized Net Operating Profit after Tax (NOPAT)		 961 242 913 913 1,528 1,347 1,161 1,510 1,144 1,873 1,172
Normalized NOPAT Margin		 37.82% 18.81% 32.65% 32.65% 41.70% 43.69% 35.29% 40.69% 37.04% - 32.39%
Pre Tax Income Margin		 43.97% 12.07% 43.22% 43.22% 49.41% 50.65% 44.16% 51.61% 46.84% - 40.22%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 179.14% 215.70% 168.28% 149.73% 0.00% 97.43% 118.29% 107.10% 120.87% - 118.31%
Augmented Payout Ratio		 191.44% 232.80% 182.31% 166.62% 0.00% 109.59% 130.66% 114.29% 126.82% - 122.88%

Financials Breakdown Chart

Key Financial Trends

Key takeaways from Blackstone (BX) quarterly results drawn from the last four years of data, focused on the most recent Q4 2025 performance and supporting trend context.

  • Q4 2025 Operating Revenue rose to 4,360,272,000, up from 3,082,565,000 in Q4 2024 (about 41% year over year).
  • Q4 2025 Net Income attributable to Common Shareholders reached 1,015,201,000, up from 703,873,000 in Q4 2024 (roughly 44% YoY).
  • Q4 2025 Total Operating Income advanced to 2,235,387,000, versus 1,582,448,000 in Q4 2024 (about 41% YoY).
  • 4-year revenue trend context: Over 2022–2025, BX’s Q4 operating revenue moved from about 2,893,944,000 in 2022 to 1,285,020,000 in 2023, then rebounded to 3,082,565,000 in 2024 and 4,360,272,000 in 2025, indicating a rebound and accelerating growth in the later years.
  • Net cash from continuing operating activities (Q4 2025) was 1,067,795,000, reflecting ongoing positive cash generation from core operations.
  • Balance sheet positioning: As of mid-2025, total assets were about 46.56B, with total liabilities around 25.19B and total equity near 19.89B, suggesting solid capitalization and a balanced mix of debt and equity.
  • Leverage snapshot: Long-Term Debt was about 12.00B (Q3 2025), with a liabilities-to-assets profile around 0.54, indicating manageable leverage for a large asset-management-focused firm.
  • Per-share metrics: Basic and diluted earnings per share for Q4 2025 were both about 1.29, consistent with stable earnings per share despite large quarterly activity.
  • Noncontrolling interest: Net income attributable to noncontrolling interests was 959,590,000 in Q4 2025, meaning a portion of profits accrues to noncontrolling holders and reduces BX’s reported net income share.
  • Income tax pressure: Income tax expense for Q4 2025 rose to 382,045,000 from 232,451,000 in Q4 2024, indicating a higher tax burden that partially offsets pretax gains.
05/26/26 11:15 AM ETAI Generated. May Contain Errors.

Blackstone Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Blackstone's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Blackstone's net income appears to be on an upward trend, with a most recent value of $6.05 billion in 2025, rising from $1.62 billion in 2015. The previous period was $5.44 billion in 2024. See Blackstone's forecast for analyst expectations on what's next for the company.

Blackstone's total operating income in 2025 was $6.75 billion, based on the following breakdown:
  • Total Gross Profit: $14.45 billion
  • Total Operating Expenses: $7.70 billion

Over the last 10 years, Blackstone's total revenue changed from $7.85 billion in 2015 to $14.45 billion in 2025, a change of 84.0%.

Blackstone's total liabilities were at $25.83 billion at the end of 2025, a 7.7% increase from 2024, and a 150.9% increase since 2015.

In the past 10 years, Blackstone's cash and equivalents has ranged from $1.84 billion in 2016 to $4.25 billion in 2022, and is currently $2.63 billion as of their latest financial filing in 2025.

Over the last 10 years, Blackstone's book value per share changed from 11.23 in 2015 to 11.73 in 2025, a change of 4.5%.


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Financial statements for NYSE:BX last updated on 5/13/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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Hey, it's Jon Najarian. The SpaceX IPO is right around the corner. But I discovered Elon may have something BIGGER planned. Check this out before June 9th...
After being invited to the SpaceX launch headquarters in Cape Canaveral from one of Elon's top lobbyists… Hall...
Banyan Hill Publishing | Sponsoredtc pixel
No. You’re not imagining it…
Porter Stansberry, founder of one of the largest financial research firms in the world, says he's breaking the...
Porter & Company | Sponsoredtc pixel
Three companies about to leapfrog Nvidia [And transform the entire industry]
Futurist George Gilder - who predicted the smartphone years before the iPhone launched - believes today's AI d...
Eagle Publishing | Sponsoredtc pixel
Your Retirement Was Placed Inside a Broken System Without Warning
Since Nixon closed the gold window in 1971, the dollar has lost over 85% of its purchasing power - with no pub...
Americas Gold Company | Sponsoredtc pixel
Goldman Sachs just told you what to buy (most people missed it)
Goldman Sachs just revealed that 40% of AI data centers will be crippled by electricity shortages by 2027 - no...
Behind the Markets | Sponsoredtc pixel
Your book attached
Bill Poulos is offering his 'Simple Options Trading For Beginners' guide at no cost - normally priced at $29.9...
Profits Run | Sponsoredtc pixel