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Blackstone Mortgage Trust (BXMT) Financials

Blackstone Mortgage Trust logo
$18.36 -0.04 (-0.19%)
Closing price 03:59 PM Eastern
Extended Trading
$18.11 -0.25 (-1.36%)
As of 05:11 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Polygon.io. Learn more.
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Annual Income Statements for Blackstone Mortgage Trust

Annual Income Statements for Blackstone Mortgage Trust

This table shows Blackstone Mortgage Trust'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
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
Net Income / (Loss) Attributable to Common Shareholders		 197 238 218 285 306 138 419 249 247 -204
Consolidated Net Income / (Loss)		 212 246 218 286 307 140 422 251 250 -202
Net Income / (Loss) Continuing Operations		 212 246 218 286 307 140 422 251 250 -202
Total Pre-Tax Income 		212 247 218 286 307 141 423 254 255 -199
Total Revenue		 258 314 303 396 424 432 514 628 675 1,788
Net Interest Income / (Expense)		 258 314 303 396 424 432 514 628 671 1,769
Total Interest Income		 411 498 538 756 883 780 855 1,339 2,038 1,769
Loans and Leases Interest Income		 - - - - - - - 1,339 2,038 1,769
Total Interest Expense		 152 184 235 360 459 347 340 711 1,367 0.00
Total Non-Interest Income		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 628 675 499
Other Service Charges		 - - - - - - - 0.00 0.00 1.06
Net Realized & Unrealized Capital Gains on Investments		 - - - - - - 0.00 0.00 4.62 5.35
Other Non-Interest Income		 - - - - - - - 0.00 0.00 13
Total Non-Interest Expense		 58 70 85 110 117 291 92 374 420 1,985
Other Operating Expenses		 80 84 85 110 117 124 132 162 170 1,446
Other Special Charges		 -22 -13 - - 0.00 168 -40 212 250 539
Nonoperating Income / (Expense), net		 12 3.19 - - - - - - - -2.75
Income Tax Expense		 0.50 0.20 0.31 0.31 -0.51 0.32 0.42 3.00 5.36 2.37
Net Income / (Loss) Attributable to Noncontrolling Interest		 15 8.14 0.34 0.74 1.83 2.74 3.08 2.42 3.34 2.26
Basic Earnings per Share		 $2.41 $2.53 $2.27 $2.50 $2.35 $0.97 $2.77 $1.46 $1.43 ($1.17)
Weighted Average Basic Shares Outstanding		 81.74M 94.17M 95.96M 113.86M 130.09M 141.80M 151.52M 170.63M 172.67M 173.78M
Diluted Earnings per Share		 $2.41 $2.53 $2.27 $2.50 $2.35 $0.97 $2.77 $1.46 $1.43 ($1.17)
Weighted Average Diluted Shares Outstanding		 81.74M 94.17M 95.96M 113.86M 130.09M 141.80M 151.52M 170.63M 172.67M 173.78M
Weighted Average Basic & Diluted Shares Outstanding		 81.74M 94.17M 95.96M 113.86M 130.09M 141.80M 168.61M 172.28M 173.67M 171.59M
Cash Dividends to Common per Share		 $2.28 $2.48 $2.48 $2.48 $2.48 $2.48 $2.48 $2.48 $2.48 $2.18

Quarterly Income Statements for Blackstone Mortgage Trust

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

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 103 -48 118 102 30 -2.38 -124 -61 -56 37 -0.36
Consolidated Net Income / (Loss)		 104 -47 119 102 31 -1.72 -123 -60 -56 37 -0.35
Net Income / (Loss) Continuing Operations		 104 -47 119 102 31 -1.72 -123 -60 -56 37 -0.35
Total Pre-Tax Income 		105 -46 120 104 32 -1.02 -122 -59 -55 37 0.37
Total Revenue		 156 191 174 177 524 -200 145 127 434 1,083 369
Net Interest Income / (Expense)		 156 191 174 177 519 -200 142 127 430 1,070 332
Total Interest Income		 359 462 491 522 519 505 486 466 430 387 332
Loans and Leases Interest Income		 - - - 522 519 - - 466 430 - 332
Total Interest Expense		 202 271 317 345 0.00 705 344 339 0.00 -683 0.00
Total Non-Interest Income		 0.00 628 0.00 0.00 170 505 2.96 0.00 112 384 127
Other Service Charges		 - - - - - - - - - - 0.09
Net Realized & Unrealized Capital Gains on Investments		 0.00 - 0.00 - 4.54 - 2.96 - 2.39 - 0.00
Other Non-Interest Income		 - - - - 0.00 - - - 1.21 - 37
Total Non-Interest Expense		 51 237 54 74 492 -199 268 186 489 1,043 368
Other Operating Expenses		 39 48 44 46 395 -314 33 32 356 1,025 318
Other Special Charges		 12 189 9.82 28 97 115 235 153 132 18 50
Nonoperating Income / (Expense), net		 - - - - - - - - - - -0.87
Income Tax Expense		 1.17 0.94 1.89 1.20 1.57 0.70 1.00 1.22 0.61 -0.46 0.72
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.67 0.55 0.80 0.85 1.04 0.66 0.67 0.86 0.54 0.19 0.01
Basic Earnings per Share		 $0.60 ($0.28) $0.68 $0.59 $0.17 ($0.01) ($0.71) ($0.35) ($0.32) $0.21 $0.00
Weighted Average Basic Shares Outstanding		 170.97M 170.63M 172.60M 172.62M 172.65M 172.67M 174.04M 173.97M 173.64M 173.78M 172.00M
Diluted Earnings per Share		 $0.59 ($0.25) $0.67 $0.58 $0.17 $0.01 ($0.71) ($0.35) ($0.32) $0.21 $0.00
Weighted Average Diluted Shares Outstanding		 185.32M 170.63M 180.87M 180.89M 172.65M 172.67M 174.04M 173.97M 173.64M 173.78M 172.00M
Weighted Average Basic & Diluted Shares Outstanding		 170.90M 172.28M 172.29M 172.31M 172.30M 173.67M 173.58M 173.62M 172.99M 171.59M 171.58M

Annual Cash Flow Statements for Blackstone Mortgage Trust

This table details how cash moves in and out of Blackstone Mortgage Trust'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
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
Net Change in Cash & Equivalents		 42 -29 21 -3.95 45 138 263 -249 55 -19
Net Cash From Operating Activities		 171 237 227 290 304 337 382 397 459 366
Net Cash From Continuing Operating Activities		 171 237 227 290 304 337 382 397 459 366
Net Income / (Loss) Continuing Operations		 212 246 218 286 307 140 422 251 250 -202
Consolidated Net Income / (Loss)		 212 246 218 286 307 140 422 251 250 -202
Depreciation Expense		 - - - - - - - 0.00 0.00 9.41
Amortization Expense		 -15 -21 -16 -19 -26 -19 -28 -32 -24 -21
Non-Cash Adjustments to Reconcile Net Income		 -8.04 15 24 28 30 51 25 225 -2.26 0.65
Changes in Operating Assets and Liabilities, net		 -17 -4.05 1.85 -4.97 -8.10 165 -37 -47 235 579
Net Cash From Investing Activities		 -4,823 434 -781 -4,252 -1,871 -88 -5,627 -3,254 1,444 3,497
Net Cash From Continuing Investing Activities		 -4,823 434 -781 -4,252 -1,871 -88 -5,627 -3,254 1,444 3,497
Purchase of Property, Leasehold Improvements and Equipment		 - - - - - - - 0.00 0.00 -0.59
Purchase of Investment Securities		 -7,204 -3,167 -3,639 -8,025 -6,950 -2,243 -12,660 -7,050 -1,930 -1,705
Sale and/or Maturity of Investments		 2,637 3,601 2,858 3,261 5,050 1,828 6,872 3,722 3,356 4,881
Other Investing Activities, net		 -238 0.00 0.00 512 29 326 161 75 18 322
Net Cash From Financing Activities		 4,694 -700 575 3,958 1,613 -111 5,508 2,607 -1,848 -3,883
Net Cash From Continuing Financing Activities		 4,694 -700 575 3,958 1,613 -111 5,508 2,607 -1,848 -3,883
Issuance of Debt		 6,885 3,240 5,599 9,498 7,339 5,097 14,250 7,401 2,030 2,754
Issuance of Common Equity		 1,030 0.03 392 476 372 278 638 71 0.00 0.00
Repayment of Debt		 -3,030 -3,671 -5,160 -5,718 -5,748 -5,083 -8,975 -4,389 -3,418 -6,158
Repurchase of Common Equity		 - - - - - - - 0.00 0.00 -29
Payment of Dividends		 -167 -233 -235 -277 -321 -349 -371 -421 -427 -404
Other Financing Activities, Net		 -42 -36 -21 -22 -30 -54 -34 -54 -32 -46
Cash Interest Paid		 127 165 207 319 426 312 288 608 1,293 1,261
Cash Income Taxes Paid		 0.13 0.29 0.30 0.55 -0.11 0.23 -0.07 0.68 6.67 4.48

Quarterly Cash Flow Statements for Blackstone Mortgage Trust

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

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Net Change in Cash & Equivalents		 -5.20 12 223 -35 -60 -74 67 -40 -53 7.40 343
Net Cash From Operating Activities		 83 130 110 126 112 111 95 100 87 85 101
Net Cash From Continuing Operating Activities		 83 130 110 126 112 111 95 100 87 85 101
Net Income / (Loss) Continuing Operations		 104 -47 119 102 31 -1.72 -123 -60 -56 37 -0.35
Consolidated Net Income / (Loss)		 104 -47 119 102 31 -1.72 -123 -60 -56 37 -0.35
Depreciation Expense		 - - - - - - - - 1.03 8.19 16
Amortization Expense		 -7.15 -7.90 -6.94 -7.15 -3.62 -6.45 -5.88 -6.32 -6.18 -2.80 -1.28
Non-Cash Adjustments to Reconcile Net Income		 1.61 211 -1.31 -1.36 -0.92 1.33 -1.59 -0.32 -2.26 4.83 2.22
Changes in Operating Assets and Liabilities, net		 -15 -26 -0.69 32 86 118 225 167 150 37 84
Net Cash From Investing Activities		 204 -53 157 584 447 256 376 488 1,286 1,347 261
Net Cash From Continuing Investing Activities		 204 -53 157 584 447 256 376 488 1,286 1,347 261
Purchase of Property, Leasehold Improvements and Equipment		 - - - - - - - - - - -4.26
Purchase of Investment Securities		 -677 -783 -449 -592 -479 -410 -319 -449 -540 -398 -1,852
Sale and/or Maturity of Investments		 825 711 434 1,340 590 992 574 1,045 1,573 1,688 2,035
Other Investing Activities, net		 56 19 173 -165 337 -327 120 -109 253 57 83
Net Cash From Financing Activities		 -293 -64 -44 -745 -619 -440 -404 -628 -1,426 -1,424 -18
Net Cash From Continuing Financing Activities		 -293 -64 -44 -745 -619 -440 -404 -628 -1,426 -1,424 -18
Issuance of Debt		 714 856 1,026 477 261 265 590 190 434 1,540 2,065
Repayment of Debt		 -912 -806 -955 -1,107 -766 -591 -878 -704 -1,733 -2,843 -1,948
Repurchase of Common Equity		 - - - - - - - - - -18 -32
Payment of Dividends		 -106 -106 -106 -107 -107 -107 -107 -108 -108 -81 -81
Other Financing Activities, Net		 -7.83 -8.90 -8.00 -8.20 -7.92 -8.05 -8.94 -6.01 -9.22 -22 -22
Cash Interest Paid		 186 234 318 321 343 311 344 324 326 268 245
Cash Income Taxes Paid		 0.32 -0.05 0.90 3.39 0.94 1.44 1.16 0.86 2.63 -0.17 0.78

Annual Balance Sheets for Blackstone Mortgage Trust

This table presents Blackstone Mortgage Trust'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
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
Total Assets		 9,377 8,813 10,259 14,467 16,552 16,959 22,703 25,354 24,036 19,802
Cash and Due from Banks		 96 76 70 106 150 290 551 291 350 323
Trading Account Securities		 9.44 - - - - - - - 0.00 4.45
Loans and Leases, Net of Allowance		 9,077 8,693 10,057 14,191 0.00 16,573 22,003 25,018 23,787 19,048
Loans and Leases		 9,077 8,693 10,057 14,191 - 16,573 22,003 25,018 23,787 19,048
Other Assets		 184 44 100 171 16,402 96 149 45 -101 427
Total Liabilities & Shareholders' Equity		 9,377 8,813 10,259 14,467 16,552 16,959 22,703 25,354 24,036 19,802
Total Liabilities		 6,871 6,319 7,341 11,093 12,767 13,055 18,085 20,810 19,649 16,008
Long-Term Debt		 6,777 6,231 7,201 10,965 12,268 12,852 17,853 20,383 19,286 15,725
Other Long-Term Liabilities		 94 88 141 128 324 202 231 427 363 283
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 2,506 2,494 2,917 3,375 3,785 3,904 4,619 4,544 4,388 3,794
Total Preferred & Common Equity		 2,493 2,494 2,911 3,364 3,763 3,886 4,588 4,519 4,368 3,787
Total Common Equity		 2,493 2,494 2,911 3,364 3,763 3,886 4,588 4,519 4,368 3,787
Common Stock		 3,071 3,091 3,508 3,968 4,371 4,704 5,375 5,478 5,509 5,513
Retained Earnings		 -546 -541 -567 -569 -593 -829 -795 -969 -1,151 -1,734
Accumulated Other Comprehensive Income / (Loss)		 -33 -56 -30 -34 -16 11 8.31 10 9.45 8.27
Noncontrolling Interest		 13 0.00 6.34 10 22 18 31 25 20 6.88

Quarterly Balance Sheets for Blackstone Mortgage Trust

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

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025
Total Assets		 24,799 25,386 24,863 24,043 23,266 22,637 21,443 19,957
Cash and Due from Banks		 272 516 483 421 414 374 322 669
Trading Account Securities		 - - - - - - - 29
Loans and Leases, Net of Allowance		 24,423 0.00 24,483 23,716 23,189 22,871 21,603 19,050
Loans and Leases		 24,423 - 24,483 23,716 23,189 22,871 21,603 19,050
Other Assets		 104 24,870 -103 -94 -337 -608 -481 210
Total Liabilities & Shareholders' Equity		 24,799 25,386 24,863 24,043 23,266 22,637 21,443 19,957
Total Liabilities		 20,115 20,825 20,296 19,550 19,101 18,632 17,583 16,269
Long-Term Debt		 19,905 20,542 20,002 19,272 18,843 18,375 17,236 15,927
Other Long-Term Liabilities		 - 283 - 278 258 257 346 341
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 4,684 4,561 4,566 4,494 4,165 4,005 3,860 3,689
Total Preferred & Common Equity		 4,658 4,535 4,541 4,471 4,145 3,985 3,845 3,682
Total Common Equity		 4,658 4,535 4,541 4,471 4,145 3,985 3,845 3,682
Common Stock		 5,469 5,485 5,493 5,501 5,518 5,526 5,523 5,488
Retained Earnings		 -815 -958 -963 -1,041 -1,383 -1,552 -1,690 -1,815
Accumulated Other Comprehensive Income / (Loss)		 3.83 7.83 11 11 9.87 10 11 8.59
Noncontrolling Interest		 26 25 26 23 20 20 16 6.75

Annual Metrics And Ratios for Blackstone Mortgage Trust

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
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
Growth Metrics		 - - - - - - - - - -
Revenue Growth		 123.33% 21.49% -3.40% 30.83% 6.98% 1.89% 19.04% 22.08% 7.52% 164.85%
EBITDA Growth		 158.34% 20.08% -9.24% 32.40% 5.18% -56.86% 225.48% -43.68% 3.94% -190.21%
EBIT Growth		 145.85% 21.37% -10.34% 31.08% 7.26% -54.14% 200.34% -39.90% 0.47% -177.06%
NOPAT Growth		 146.53% 21.56% -10.40% 31.13% 7.55% -54.32% 200.73% -40.55% -0.46% -155.10%
Net Income Growth		 110.84% 16.31% -11.55% 31.13% 7.55% -54.32% 200.73% -40.55% -0.46% -180.77%
EPS Growth		 29.57% 4.98% -10.28% 10.13% -6.00% -58.72% 185.57% -47.29% -2.05% -181.82%
Operating Cash Flow Growth		 112.55% 38.07% -3.88% 27.50% 4.84% 10.71% 13.63% 3.75% 15.63% -20.14%
Free Cash Flow Firm Growth		 -78.51% 117.53% -246.66% -234.86% 64.28% 59.90% -838.80% 58.36% 168.21% 167.20%
Invested Capital Growth		 105.75% -6.01% 15.97% 41.72% 11.95% 4.39% 34.11% 10.93% -5.03% -17.55%
Revenue Q/Q Growth		 21.52% -3.17% 2.83% 5.87% 1.81% -0.06% 14.33% 2.81% -36.68% 253.68%
EBITDA Q/Q Growth		 18.30% -3.15% 3.36% 6.26% 0.40% -25.47% 25.77% -42.54% 25.18% 20.50%
EBIT Q/Q Growth		 17.06% -2.88% 2.76% 5.82% 1.90% -24.58% 27.49% -40.23% 21.42% 17.14%
NOPAT Q/Q Growth		 17.15% -2.83% 2.22% 5.83% 1.88% 3.57% 10.59% -40.64% 22.13% 17.14%
Net Income Q/Q Growth		 23.46% -4.72% 2.22% 5.83% 1.88% 3.57% 10.59% -40.64% 22.13% 16.23%
EPS Q/Q Growth		 46.95% -6.30% 1.34% 0.81% -1.26% 4.30% 6.13% -41.37% 22.22% 14.60%
Operating Cash Flow Q/Q Growth		 34.12% -6.96% 0.81% 5.97% 2.76% -0.04% 15.79% 0.70% -3.99% -6.77%
Free Cash Flow Firm Q/Q Growth		 21.15% -50.11% -10.76% -67.40% 40.04% 65.34% -52.99% 39.11% 46.17% 60.52%
Invested Capital Q/Q Growth		 -4.86% 3.86% 4.58% 16.62% 7.43% 0.31% 9.37% 1.37% -0.39% -7.48%
Profitability Metrics		 - - - - - - - - - -
EBITDA Margin		 71.74% 70.91% 66.62% 67.42% 66.28% 28.07% 76.74% 35.40% 34.22% -11.66%
EBIT Margin		 77.68% 77.60% 72.03% 72.16% 72.35% 32.56% 82.16% 40.45% 37.80% -11.00%
Profit (Net Income) Margin		 82.06% 78.56% 71.93% 72.09% 72.47% 32.49% 82.08% 39.97% 37.01% -11.29%
Tax Burden Percent		 99.76% 99.92% 99.86% 99.89% 100.16% 99.77% 99.90% 98.82% 97.90% 101.19%
Interest Burden Percent		 105.88% 101.31% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 101.40%
Effective Tax Rate		 0.24% 0.08% 0.14% 0.11% -0.16% 0.23% 0.10% 1.18% 2.10% 0.00%
Return on Invested Capital (ROIC)		 2.90% 2.70% 2.31% 2.34% 2.02% 0.86% 2.15% 1.06% 1.03% -0.64%
ROIC Less NNEP Spread (ROIC-NNEP)		 3.14% 2.75% 2.31% 2.34% 2.02% 0.86% 2.15% 1.06% 1.03% -1.00%
Return on Net Nonoperating Assets (RNNOA)		 7.68% 7.16% 5.74% 6.75% 6.56% 2.80% 7.76% 4.42% 4.57% -4.30%
Return on Equity (ROE)		 10.58% 9.86% 8.06% 9.08% 8.59% 3.65% 9.91% 5.48% 5.60% -4.93%
Cash Return on Invested Capital (CROIC)		 -66.27% 8.90% -12.47% -32.18% -9.25% -3.44% -26.99% -9.30% 6.19% 18.60%
Operating Return on Assets (OROA)		 2.88% 2.68% 2.29% 2.31% 1.98% 0.84% 2.13% 1.06% 1.03% -0.90%
Return on Assets (ROA)		 3.04% 2.71% 2.29% 2.31% 1.98% 0.84% 2.13% 1.04% 1.01% -0.92%
Return on Common Equity (ROCE)		 10.45% 9.83% 8.05% 9.06% 8.55% 3.63% 9.85% 5.45% 5.57% -4.92%
Return on Equity Simple (ROE_SIMPLE)		 8.50% 9.88% 7.49% 8.50% 8.17% 3.61% 9.20% 5.56% 5.72% -5.33%
Net Operating Profit after Tax (NOPAT)		 200 243 218 286 307 140 422 251 250 -138
NOPAT Margin		 77.50% 77.54% 71.93% 72.09% 72.47% 32.49% 82.08% 39.97% 37.01% -7.70%
Net Nonoperating Expense Percent (NNEP)		 -0.24% -0.05% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.37%
SG&A Expenses 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		 22.32% 22.40% 27.97% 27.84% 27.65% 67.44% 17.84% 59.55% 62.20% 111.00%
Earnings before Interest and Taxes (EBIT)		 201 243 218 286 307 141 423 254 255 -197
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 185 222 202 267 281 121 395 222 231 -208
Valuation Ratios		 - - - - - - - - - -
Price to Book Value (P/BV)		 0.46 0.57 0.57 0.66 0.83 0.72 0.79 0.63 0.75 0.80
Price to Tangible Book Value (P/TBV)		 0.46 0.57 0.57 0.66 0.83 0.72 0.79 0.63 0.75 0.80
Price to Revenue (P/Rev)		 4.44 4.51 5.46 5.63 7.39 6.49 7.05 4.53 4.82 1.68
Price to Earnings (P/E)		 5.82 5.94 7.60 7.83 10.26 20.38 8.65 11.45 13.21 0.00
Dividend Yield		 18.56% 16.45% 14.21% 13.29% 10.62% 12.92% 10.74% 14.89% 13.12% 12.52%
Earnings Yield		 17.18% 16.83% 13.15% 12.77% 9.74% 4.91% 11.56% 8.73% 7.57% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.84 0.87 0.87 0.91 0.95 0.92 0.93 0.92 0.94 0.94
Enterprise Value to Revenue (EV/Rev)		 30.32 24.13 28.90 33.05 36.01 35.60 40.74 36.56 32.89 10.30
Enterprise Value to EBITDA (EV/EBITDA)		 42.27 34.04 43.38 49.02 54.33 126.85 53.09 103.29 96.12 0.00
Enterprise Value to EBIT (EV/EBIT)		 39.03 31.10 40.13 45.79 49.78 109.33 49.58 90.39 87.02 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 39.13 31.12 40.19 45.84 49.70 109.58 49.63 91.47 88.89 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 45.68 31.99 38.51 45.18 50.24 45.71 54.80 57.87 48.41 50.27
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 9.45 0.00 0.00 0.00 0.00 0.00 0.00 14.78 4.59
Leverage & Solvency		 - - - - - - - - - -
Debt to Equity		 2.70 2.50 2.47 3.25 3.24 3.29 3.87 4.49 4.40 4.14
Long-Term Debt to Equity		 2.70 2.50 2.47 3.25 3.24 3.29 3.87 4.49 4.40 4.14
Financial Leverage		 2.44 2.60 2.48 2.89 3.25 3.27 3.60 4.17 4.44 4.28
Leverage Ratio		 3.48 3.64 3.52 3.93 4.33 4.36 4.65 5.24 5.53 5.36
Compound Leverage Factor		 3.69 3.69 3.52 3.93 4.33 4.36 4.65 5.24 5.53 5.43
Debt to Total Capital		 73.01% 71.42% 71.17% 76.47% 76.42% 76.70% 79.45% 81.77% 81.47% 80.56%
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		 73.01% 71.42% 71.17% 76.47% 76.42% 76.70% 79.45% 81.77% 81.47% 80.56%
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		 0.14% 0.00% 0.06% 0.07% 0.14% 0.11% 0.14% 0.10% 0.08% 0.04%
Common Equity to Total Capital		 26.85% 28.58% 28.77% 23.46% 23.44% 23.19% 20.42% 18.13% 18.45% 19.40%
Debt to EBITDA		 36.58 28.01 35.66 41.02 43.63 105.96 45.22 91.68 83.46 -75.43
Net Debt to EBITDA		 36.01 27.67 35.16 40.62 43.10 103.57 43.83 90.37 81.94 -73.87
Long-Term Debt to EBITDA		 36.58 28.01 35.66 41.02 43.63 105.96 45.22 91.68 83.46 -75.43
Debt to NOPAT		 33.87 25.62 33.04 38.36 39.91 91.53 42.28 81.19 77.18 -114.20
Net Debt to NOPAT		 33.34 25.31 32.56 37.99 39.42 89.47 40.97 80.03 75.78 -111.85
Long-Term Debt to NOPAT		 33.87 25.62 33.04 38.36 39.91 91.53 42.28 81.19 77.18 -114.20
Noncontrolling Interest Sharing Ratio		 1.23% 0.26% 0.12% 0.27% 0.46% 0.52% 0.57% 0.61% 0.51% 0.33%
Liquidity Ratios		 - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -4,571 801 -1,175 -3,935 -1,406 -564 -5,293 -2,204 1,503 4,017
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 62,110.68%
Free Cash Flow to Firm to Interest Expense		 -29.99 4.35 -5.00 -10.94 -3.07 -1.62 -15.56 -3.10 1.10 0.00
Operating Cash Flow to Interest Expense		 1.12 1.28 0.97 0.81 0.66 0.97 1.12 0.56 0.34 0.00
Operating Cash Flow Less CapEx to Interest Expense		 1.12 1.28 0.97 0.81 0.66 0.97 1.12 0.56 0.34 0.00
Efficiency Ratios		 - - - - - - - - - -
Asset Turnover		 0.04 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.08
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - -
Invested Capital		 9,283 8,725 10,118 14,339 16,052 16,757 22,472 24,927 23,674 19,519
Invested Capital Turnover		 0.04 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.08
Increase / (Decrease) in Invested Capital		 4,771 -558 1,393 4,221 1,713 704 5,715 2,455 -1,253 -4,155
Enterprise Value (EV)		 7,830 7,571 8,759 13,103 15,276 15,386 20,959 22,964 22,213 18,420
Market Capitalization		 1,145 1,416 1,655 2,233 3,136 2,806 3,626 2,847 3,257 3,012
Book Value per Share		 $26.74 $26.55 $30.70 $28.11 $28.02 $26.58 $29.21 $26.44 $25.35 $21.89
Tangible Book Value per Share		 $26.74 $26.55 $30.70 $28.11 $28.02 $26.58 $29.21 $26.44 $25.35 $21.89
Total Capital		 9,283 8,725 10,118 14,339 16,052 16,757 22,472 24,927 23,674 19,519
Total Debt		 6,777 6,231 7,201 10,965 12,268 12,852 17,853 20,383 19,286 15,725
Total Long-Term Debt		 6,777 6,231 7,201 10,965 12,268 12,852 17,853 20,383 19,286 15,725
Net Debt		 6,671 6,156 7,098 10,859 12,118 12,562 17,302 20,092 18,936 15,401
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.59
Net Nonoperating Expense (NNE)		 -12 -3.18 0.00 0.00 0.00 0.00 0.00 0.00 0.00 64
Net Nonoperating Obligations (NNO)		 6,777 6,231 7,201 10,965 12,268 12,852 17,853 20,383 19,286 15,725
Total Depreciation and Amortization (D&A)		 -15 -21 -16 -19 -26 -19 -28 -32 -24 -12
Earnings Adjustments		 - - - - - - - - - -
Adjusted Basic Earnings per Share		 $2.41 $2.53 $2.27 $2.50 $2.35 $0.97 $2.77 $1.46 $1.43 ($1.17)
Adjusted Weighted Average Basic Shares Outstanding		 93.93M 94.82M 108.19M 123.76M 135.36M 147.04M 151.52M 170.63M 172.67M 173.78M
Adjusted Diluted Earnings per Share		 $2.41 $2.53 $2.27 $2.50 $2.35 $0.97 $2.77 $1.46 $1.43 ($1.17)
Adjusted Weighted Average Diluted Shares Outstanding		 93.93M 94.82M 108.19M 123.76M 135.36M 147.04M 151.52M 170.63M 172.67M 173.78M
Adjusted Basic & Diluted Earnings per Share		 $2.41 $2.53 $2.27 $2.50 $2.35 $0.97 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 81.74M 94.17M 95.96M 113.86M 130.09M 141.80M 168.61M 172.28M 173.67M 171.59M
Normalized Net Operating Profit after Tax (NOPAT)		 178 230 218 286 215 308 382 460 494 239
Normalized NOPAT Margin		 69.01% 73.27% 71.93% 72.09% 50.64% 71.19% 74.34% 73.25% 73.22% 13.39%
Pre Tax Income Margin		 82.25% 78.62% 72.03% 72.16% 72.35% 32.56% 82.16% 40.45% 37.80% -11.15%
Debt Service Ratios		 - - - - - - - - - -
EBIT to Interest Expense		 1.32 1.32 0.93 0.80 0.67 0.41 1.24 0.36 0.19 0.00
NOPAT to Interest Expense		 1.31 1.32 0.93 0.79 0.67 0.40 1.24 0.35 0.18 0.00
EBIT Less CapEx to Interest Expense		 1.32 1.32 0.93 0.80 0.67 0.41 1.24 0.36 0.19 0.00
NOPAT Less CapEx to Interest Expense		 1.31 1.32 0.93 0.79 0.67 0.40 1.24 0.35 0.18 0.00
Payout Ratios		 - - - - - - - - - -
Dividend Payout Ratio		 78.81% 94.46% 107.81% 97.01% 104.41% 248.48% 87.78% 167.84% 170.84% -200.17%
Augmented Payout Ratio		 78.81% 94.46% 107.81% 97.01% 104.41% 248.48% 87.78% 167.84% 170.84% -214.66%

Quarterly Metrics And Ratios for Blackstone Mortgage Trust

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

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025
Period end date 9/30/2022 12/31/2022 3/31/2023 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 33.01% 9.86% 30.26% 20.59% 235.43% -204.74% -16.55% -28.52% -17.22% 640.98% 153.99%
EBITDA Growth		 22.02% -148.76% 22.89% 12.30% -70.89% 86.16% -212.82% -167.64% -311.80% 703.52% 112.68%
EBIT Growth		 24.41% -136.86% 19.96% 9.61% -69.43% 97.79% -201.43% -156.88% -271.91% 4,000.98% 101.02%
NOPAT Growth		 23.12% -125.82% 18.25% 9.20% -70.59% 97.79% -172.13% -140.28% -226.51% 5,351.16% 98.61%
Net Income Growth		 23.12% -137.63% 18.25% 9.20% -70.59% 96.35% -203.89% -158.74% -282.74% 2,278.50% 99.72%
EPS Growth		 5.36% -132.05% 15.52% 7.41% -71.19% 104.00% -205.97% -160.34% -288.24% 2,000.00% 100.00%
Operating Cash Flow Growth		 -7.40% 2.16% 21.66% 34.78% 34.97% -14.63% -13.69% -20.50% -22.25% -23.94% 6.24%
Free Cash Flow Firm Growth		 -4.84% 55.51% 83.23% 110.14% 121.69% 150.36% 281.75% 187.14% 207.80% 234.63% 68.77%
Invested Capital Growth		 19.68% 10.93% 5.13% -2.56% -3.35% -5.03% -8.34% -8.91% -11.23% -17.55% -14.74%
Revenue Q/Q Growth		 6.20% 22.35% -8.84% 1.81% 195.41% -138.20% -5.52% -12.78% 242.11% 149.64% -65.90%
EBITDA Q/Q Growth		 13.92% -155.08% 310.39% -14.94% -70.47% -126.20% -1,614.66% 49.00% 7.55% 174.65% -63.96%
EBIT Q/Q Growth		 11.08% -143.82% 361.56% -13.91% -69.02% -103.17% -11,912.59% 51.72% 6.36% 171.83% -96.87%
NOPAT Q/Q Growth		 10.71% -131.02% 467.78% -13.55% -70.18% -102.33% -11,912.59% 51.72% 6.36% 196.69% -103.18%
Net Income Q/Q Growth		 10.71% -145.22% 352.30% -13.55% -70.18% -105.62% -7,077.74% 51.12% 7.24% 166.94% -100.94%
EPS Q/Q Growth		 9.26% -142.37% 368.00% -13.43% -70.69% -94.12% -7,200.00% 50.70% 8.57% 165.63% -100.00%
Operating Cash Flow Q/Q Growth		 -11.21% 56.86% -15.82% 14.96% -11.09% -0.79% -13.82% 5.89% -13.04% -2.95% 18.89%
Free Cash Flow Firm Q/Q Growth		 46.61% 36.85% 55.56% 167.68% 14.21% 46.62% 60.37% 6.92% 22.43% 59.39% -19.12%
Invested Capital Q/Q Growth		 -2.48% 1.37% 0.70% -2.13% -3.27% -0.39% -2.81% -2.73% -5.73% -7.48% 0.50%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 62.71% -28.23% 65.16% 54.44% 5.44% 0.00% -88.10% -51.52% -13.92% 4.16% 4.40%
EBIT Margin		 67.29% -24.10% 69.15% 58.47% 6.13% 0.00% -84.05% -46.53% -12.74% 3.66% 0.34%
Profit (Net Income) Margin		 66.54% -24.59% 68.06% 57.80% 5.83% 0.00% -84.74% -47.49% -12.88% 3.45% -0.10%
Tax Burden Percent		 98.88% 102.04% 98.43% 98.84% 95.12% 168.73% 100.82% 102.06% 101.11% 101.24% -95.64%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 93.07% 29.57%
Effective Tax Rate		 1.12% 0.00% 1.57% 1.16% 4.88% 0.00% 0.00% 0.00% 0.00% -1.24% 195.64%
Return on Invested Capital (ROIC)		 1.80% -0.45% 1.86% 1.62% 0.26% 0.00% -1.58% -0.83% -0.20% 0.29% -0.03%
ROIC Less NNEP Spread (ROIC-NNEP)		 1.80% -0.52% 1.86% 1.62% 0.26% 0.00% -1.77% -0.93% -0.30% 0.29% -0.03%
Return on Net Nonoperating Assets (RNNOA)		 7.28% -2.19% 8.00% 7.13% 1.10% 0.00% -8.00% -4.14% -1.29% 1.22% -0.11%
Return on Equity (ROE)		 9.08% -2.63% 9.86% 8.75% 1.36% 0.00% -9.58% -4.97% -1.49% 1.51% -0.14%
Cash Return on Invested Capital (CROIC)		 -16.04% -9.30% -3.90% 3.71% 4.25% 6.19% 8.74% 8.88% 11.16% 18.60% 15.66%
Operating Return on Assets (OROA)		 1.81% -0.63% 1.87% 1.62% 0.27% 0.00% -2.23% -1.17% -0.28% 0.30% 0.03%
Return on Assets (ROA)		 1.79% -0.64% 1.84% 1.61% 0.25% 0.00% -2.25% -1.19% -0.29% 0.28% -0.01%
Return on Common Equity (ROCE)		 9.02% -2.62% 9.80% 8.70% 1.35% 0.00% -9.53% -4.94% -1.48% 1.50% -0.14%
Return on Equity Simple (ROE_SIMPLE)		 9.08% 0.00% 5.94% 6.12% 4.58% 0.00% 0.20% -3.88% -6.27% 0.00% -2.15%
Net Operating Profit after Tax (NOPAT)		 104 -32 119 102 31 -0.71 -86 -41 -39 37 -1.19
NOPAT Margin		 66.54% -16.87% 68.06% 57.80% 5.83% 0.00% -58.83% -32.57% -8.91% 3.45% -0.32%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.08% 0.00% 0.00% 0.00% 0.01% 0.19% 0.10% 0.09% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 32.71% 124.10% 30.85% 41.53% 93.87% 0.00% 184.05% 146.53% 112.74% 96.34% 99.66%
Earnings before Interest and Taxes (EBIT)		 105 -46 120 104 32 -1.02 -122 -59 -55 40 1.24
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 98 -54 114 97 29 -7.47 -128 -65 -60 45 16
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.69 0.63 0.58 0.70 0.74 0.75 0.80 0.76 0.86 0.80 0.93
Price to Tangible Book Value (P/TBV)		 0.69 0.63 0.58 0.70 0.74 0.75 0.80 0.76 0.86 0.80 0.93
Price to Revenue (P/Rev)		 5.23 4.53 3.95 4.54 3.12 4.82 5.12 5.07 6.53 1.68 1.71
Price to Earnings (P/E)		 7.61 11.45 9.89 11.52 16.53 13.21 667.65 0.00 0.00 0.00 0.00
Dividend Yield		 13.21% 14.89% 16.20% 13.48% 12.84% 13.12% 12.90% 14.24% 12.26% 12.52% 10.15%
Earnings Yield		 13.14% 8.73% 10.11% 8.68% 6.05% 7.57% 0.15% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.93 0.92 0.90 0.92 0.93 0.94 0.95 0.94 0.96 0.94 0.95
Enterprise Value to Revenue (EV/Rev)		 37.41 36.56 33.94 32.51 20.82 32.89 33.66 35.32 40.01 10.30 9.29
Enterprise Value to EBITDA (EV/EBITDA)		 59.07 103.29 93.19 89.41 120.26 96.12 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 53.77 90.39 82.78 80.21 105.61 87.02 1,721.30 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 54.05 91.47 84.24 81.72 108.50 88.89 2,663.17 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 58.00 57.87 54.50 50.61 46.46 48.41 49.03 50.35 51.47 50.27 50.21
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 24.60 21.59 14.78 10.35 10.10 8.08 4.59 5.60
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 4.25 4.49 4.50 4.38 4.29 4.40 4.52 4.59 4.46 4.14 4.32
Long-Term Debt to Equity		 4.25 4.49 4.50 4.38 4.29 4.40 4.52 4.59 4.46 4.14 4.32
Financial Leverage		 4.04 4.17 4.31 4.39 4.27 4.44 4.51 4.48 4.37 4.28 4.43
Leverage Ratio		 5.08 5.24 5.36 5.45 5.32 5.53 5.58 5.54 5.44 5.36 5.50
Compound Leverage Factor		 5.08 5.24 5.36 5.45 5.32 5.53 5.58 5.54 5.44 4.99 1.63
Debt to Total Capital		 80.95% 81.77% 81.83% 81.41% 81.09% 81.47% 81.90% 82.11% 81.70% 80.56% 81.20%
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% 0.00%
Long-Term Debt to Total Capital		 80.95% 81.77% 81.83% 81.41% 81.09% 81.47% 81.90% 82.11% 81.70% 80.56% 81.20%
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% 0.00%
Noncontrolling Interests to Total Capital		 0.10% 0.10% 0.10% 0.10% 0.10% 0.08% 0.09% 0.09% 0.07% 0.04% 0.03%
Common Equity to Total Capital		 18.94% 18.13% 18.07% 18.48% 18.81% 18.45% 18.01% 17.80% 18.22% 19.40% 18.77%
Debt to EBITDA		 51.45 91.68 84.37 78.73 104.39 83.46 -1,801.29 -106.63 -65.73 -75.43 -248.14
Net Debt to EBITDA		 50.74 90.37 82.25 76.83 102.11 81.94 -1,761.72 -104.46 -64.50 -73.87 -237.72
Long-Term Debt to EBITDA		 51.45 91.68 84.37 78.73 104.39 83.46 -1,801.29 -106.63 -65.73 -75.43 -248.14
Debt to NOPAT		 47.07 81.19 76.26 71.96 94.18 77.18 2,306.12 -174.95 -103.72 -114.20 -295.79
Net Debt to NOPAT		 46.42 80.03 74.35 70.22 92.12 75.78 2,255.46 -171.39 -101.78 -111.85 -283.38
Long-Term Debt to NOPAT		 47.07 81.19 76.26 71.96 94.18 77.18 2,306.12 -174.95 -103.72 -114.20 -295.79
Noncontrolling Interest Sharing Ratio		 0.66% 0.61% 0.57% 0.55% 0.52% 0.00% 0.52% 0.53% 0.46% 0.33% 0.34%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -3,939 -2,487 -1,105 748 854 1,253 2,009 2,148 2,630 4,192 3,391
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2,361.75%
Free Cash Flow to Firm to Interest Expense		 -19.46 -9.17 -3.48 2.17 0.00 1.78 5.84 6.33 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.41 0.48 0.35 0.37 0.00 0.16 0.28 0.30 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.41 0.48 0.35 0.37 0.00 0.16 0.28 0.30 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.03 0.03 0.03 0.03 0.04 0.03 0.03 0.03 0.02 0.08 0.09
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 24,589 24,927 25,102 24,569 23,765 23,674 23,008 22,379 21,097 19,519 19,616
Invested Capital Turnover		 0.03 0.03 0.03 0.03 0.04 0.03 0.03 0.03 0.02 0.08 0.09
Increase / (Decrease) in Invested Capital		 4,043 2,455 1,224 -646 -824 -1,253 -2,095 -2,189 -2,669 -4,155 -3,392
Enterprise Value (EV)		 22,857 22,964 22,690 22,715 22,201 22,213 21,761 21,045 20,231 18,420 18,698
Market Capitalization		 3,198 2,847 2,638 3,170 3,328 3,257 3,312 3,024 3,301 3,012 3,432
Book Value per Share		 $27.35 $26.44 $26.32 $26.36 $25.95 $25.35 $23.81 $22.95 $22.14 $21.89 $21.46
Tangible Book Value per Share		 $27.35 $26.44 $26.32 $26.36 $25.95 $25.35 $23.81 $22.95 $22.14 $21.89 $21.46
Total Capital		 24,589 24,927 25,102 24,569 23,765 23,674 23,008 22,379 21,097 19,519 19,616
Total Debt		 19,905 20,383 20,542 20,002 19,272 19,286 18,843 18,375 17,236 15,725 15,927
Total Long-Term Debt		 19,905 20,383 20,542 20,002 19,272 19,286 18,843 18,375 17,236 15,725 15,927
Net Debt		 19,633 20,092 20,026 19,520 18,850 18,936 18,429 18,001 16,914 15,401 15,259
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4.26
Net Nonoperating Expense (NNE)		 0.00 15 0.00 0.00 0.00 1.00 38 19 17 0.00 -0.84
Net Nonoperating Obligations (NNO)		 19,905 20,383 20,542 20,002 19,272 19,286 18,843 18,375 17,236 15,725 15,927
Total Depreciation and Amortization (D&A)		 -7.15 -7.90 -6.94 -7.15 -3.62 -6.45 -5.88 -6.32 -5.15 5.40 15
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.60 ($0.28) $0.68 $0.59 $0.17 ($0.01) ($0.71) ($0.35) ($0.32) $0.21 $0.00
Adjusted Weighted Average Basic Shares Outstanding		 170.97M 170.63M 172.60M 172.62M 172.65M 172.67M 174.04M 173.97M 173.64M 173.78M 172.00M
Adjusted Diluted Earnings per Share		 $0.59 ($0.25) $0.67 $0.58 $0.17 $0.01 ($0.71) ($0.35) ($0.32) $0.21 $0.00
Adjusted Weighted Average Diluted Shares Outstanding		 185.32M 170.63M 180.87M 180.89M 172.65M 172.67M 174.04M 173.97M 173.64M 173.78M 172.00M
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		 170.90M 172.28M 172.29M 172.31M 172.30M 173.67M 173.58M 173.62M 172.99M 171.59M 171.58M
Normalized Net Operating Profit after Tax (NOPAT)		 116 100 128 130 123 80 79 66 54 39 36
Normalized NOPAT Margin		 74.29% 52.30% 73.61% 73.29% 23.43% 0.00% 54.27% 52.12% 12.47% 3.56% 9.62%
Pre Tax Income Margin		 67.29% -24.10% 69.15% 58.47% 6.13% 0.00% -84.05% -46.53% -12.74% 3.41% 0.10%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.52 -0.17 0.38 0.30 0.00 0.00 -0.36 -0.17 0.00 0.00 0.00
NOPAT to Interest Expense		 0.51 -0.12 0.37 0.30 0.00 0.00 -0.25 -0.12 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.52 -0.17 0.38 0.30 0.00 0.00 -0.36 -0.17 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.51 -0.12 0.37 0.30 0.00 0.00 -0.25 -0.12 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 97.61% 167.84% 157.26% 152.82% 208.22% 170.84% 5,236.35% -277.44% -178.28% -200.17% -478.19%
Augmented Payout Ratio		 97.61% 167.84% 157.26% 152.82% 208.22% 170.84% 5,236.35% -277.44% -178.28% -214.66% -555.24%

Financials Breakdown Chart

Key Financial Trends

Blackstone Mortgage Trust (NYSE: BXMT) has shown some notable trends in its financial performance and position based on the last several quarterly financial statements analyzed, spanning Q3 2022 through Q1 2025.

  • Blackstone's total interest income reached $332 million in Q1 2025, showing continued core revenue generation from its loans and leases portfolio, consistent with historical interest income in the range of $350 to $520 million per quarter since late 2022.
  • The company's net cash from continuing operating activities was strong at $100.5 million in Q1 2025, indicating solid cash generation capability despite a reported net loss.
  • Cash and due from banks grew to $668.6 million by the end of Q1 2025, increasing from around $320 million a year prior, strengthening the company’s liquidity position.
  • Total loans and leases held steady at approximately $19 billion in Q1 2025, maintaining the company's sizable investment volume.
  • Blackstone issued $2.06 billion in debt in Q1 2025, supporting its financing and investment strategies, albeit balanced by debt repayments of just under $1.95 billion.
  • The company’s other non-interest income was stable, one of the smaller contributors to revenue totaling approximately $37 million in Q1 2025.
  • Weighted average shares outstanding for both basic and diluted were around 172 million in Q1 2025, relatively stable and reflecting no major dilution or buybacks recently.
  • Blackstone reported a net loss to common shareholders in Q1 2025 of $357,000, a decline from net incomes reported in prior quarters such as $37.4 million in Q4 2024 and positive net earnings throughout 2023.
  • Total other special charges sharply increased to $49.5 million in Q1 2025, compared with more moderate charges in prior quarters; these expenses have noticeably pressured profitability.
  • Total non-interest expense surged to $367.9 million in Q1 2025, almost matching total revenue of $369 million, squeezing overall margins and contributing to the loss in the quarter.

Summary: Blackstone Mortgage Trust continues to generate solid core interest income and strong cash flow from operations, supported by a substantial loan portfolio and liquidity reserves. However, the company's profitability took a hit in Q1 2025 due to a combination of significantly higher non-interest expenses and special charges. This marks a departure from the generally profitable quarters in 2023 and late 2024. Investors should watch for management’s strategy to curb expenses and special charges while maintaining revenue growth, as well as monitor debt issuance and repayments, which remain critical to the company’s capital structure.

10/24/25 05:12 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Blackstone Mortgage Trust's Financials

When does Blackstone Mortgage Trust's fiscal year end?

According to the most recent income statement we have on file, Blackstone Mortgage Trust's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Blackstone Mortgage Trust's net income changed over the last 9 years?

Blackstone Mortgage Trust's net income appears to be on a downward trend, with a most recent value of -$201.83 million in 2024, falling from $211.89 million in 2015. The previous period was $249.90 million in 2023. See Blackstone Mortgage Trust's forecast for analyst expectations on what’s next for the company.

How has Blackstone Mortgage Trust's revenue changed over the last 9 years?

Over the last 9 years, Blackstone Mortgage Trust's total revenue changed from $258.22 million in 2015 to $1.79 billion in 2024, a change of 592.6%.

How much debt does Blackstone Mortgage Trust have?

Blackstone Mortgage Trust's total liabilities were at $16.01 billion at the end of 2024, a 18.5% decrease from 2023, and a 133.0% increase since 2015.

How much cash does Blackstone Mortgage Trust have?

In the past 9 years, Blackstone Mortgage Trust's cash and equivalents has ranged from $69.65 million in 2017 to $551.15 million in 2021, and is currently $323.48 million as of their latest financial filing in 2024.

How has Blackstone Mortgage Trust's book value per share changed over the last 9 years?

Over the last 9 years, Blackstone Mortgage Trust's book value per share changed from 26.74 in 2015 to 21.89 in 2024, a change of -18.1%.


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This page (NYSE:BXMT) was last updated on 10/24/2025 by MarketBeat.com Staff
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