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Blackstone Mortgage Trust (BXMT) Financials

Blackstone Mortgage Trust logo
$19.33 +0.21 (+1.09%)
Closing price 05/6/2026 03:59 PM Eastern
Extended Trading
$19.21 -0.12 (-0.61%)
As of 07:13 AM 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 Massive. 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 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		 197 238 218 285 306 138 419 249 247 -204 110
Consolidated Net Income / (Loss)		 212 246 218 286 307 140 422 251 250 -202 110
Net Income / (Loss) Continuing Operations		 212 246 218 286 307 140 422 251 250 -202 110
Total Pre-Tax Income 		212 247 218 286 307 141 423 254 255 -199 113
Total Revenue		 258 314 303 396 424 432 514 628 2,042 1,788 1,542
Net Interest Income / (Expense)		 258 314 303 396 424 432 514 628 2,038 1,769 1,356
Total Interest Income		 411 498 538 756 883 780 855 1,339 2,038 1,769 1,356
Loans and Leases Interest Income		 - - - - - - - 1,339 2,038 1,769 1,356
Total Interest Expense		 152 184 235 360 459 347 340 711 0.00 0.00 0.00
Total Non-Interest Income		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 628 4.62 19 185
Other Service Charges		 - - - - - - - 0.00 0.00 1.06 0.40
Net Realized & Unrealized Capital Gains on Investments		 - - - - - - 0.00 0.00 4.62 5.35 0.00
Other Non-Interest Income		 - - - - - - - 0.00 0.00 13 185
Total Non-Interest Expense		 58 70 85 110 117 291 92 374 1,787 1,985 1,437
Other Operating Expenses		 80 84 85 110 117 124 132 162 1,537 1,446 1,324
Other Special Charges		 -22 -13 - - 0.00 168 -40 212 250 539 112
Nonoperating Income / (Expense), net		 12 3.19 - - - - - - 0.00 -2.75 8.31
Income Tax Expense		 0.50 0.20 0.31 0.31 -0.51 0.32 0.42 3.00 5.36 2.37 3.67
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 0.10
Basic Earnings per Share		 $2.41 $2.53 $2.27 $2.50 $2.35 $0.97 $2.77 $1.46 $1.43 ($1.17) $0.64
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 170.96M
Diluted Earnings per Share		 $2.41 $2.53 $2.27 $2.50 $2.35 $0.97 $2.77 $1.46 $1.43 ($1.17) $0.64
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 170.96M
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 168.74M
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 $1.88

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 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		 30 -2.38 -124 -61 -56 37 -0.36 6.97 63 40 -6.30
Consolidated Net Income / (Loss)		 31 -1.72 -123 -60 -56 37 -0.35 6.98 63 40 -6.34
Net Income / (Loss) Continuing Operations		 31 -1.72 -123 -60 -56 37 -0.35 6.98 63 40 -6.34
Total Pre-Tax Income 		32 -1.02 -122 -59 -55 37 0.37 7.89 65 40 -5.18
Total Revenue		 524 -200 145 127 112 1,083 369 399 380 394 380
Net Interest Income / (Expense)		 519 -200 142 127 108 1,070 332 360 346 319 306
Total Interest Income		 519 505 486 466 430 387 332 360 346 319 306
Loans and Leases Interest Income		 519 - 486 466 430 - 332 360 346 319 306
Total Interest Expense		 0.00 705 344 339 322 -683 0.00 0.00 0.00 - 0.00
Total Non-Interest Income		 170 505 145 127 112 384 37 134 133 -208 75
Other Service Charges		 - - 0.00 0.00 0.00 - 0.09 0.23 0.07 0.01 0.00
Other Non-Interest Income		 0.00 - 0.00 0.00 1.21 - 37 39 34 75 75
Total Non-Interest Expense		 492 -199 268 186 167 1,043 368 389 319 361 387
Other Operating Expenses		 395 -314 33 33 35 1,025 318 343 320 343 332
Other Special Charges		 97 115 235 152 132 18 50 46 -0.99 18 55
Nonoperating Income / (Expense), net		 - - - - - - -0.87 -2.02 3.92 7.27 1.38
Income Tax Expense		 1.57 0.70 1.00 1.22 0.61 -0.46 0.72 0.90 1.51 0.54 1.16
Net Income / (Loss) Attributable to Noncontrolling Interest		 1.04 0.66 0.67 0.86 0.54 0.19 0.01 0.02 0.01 0.07 -0.04
Basic Earnings per Share		 $0.17 ($0.01) ($0.71) ($0.35) ($0.32) $0.21 $0.00 $0.04 $0.37 $0.23 ($0.04)
Weighted Average Basic Shares Outstanding		 172.65M 172.67M 174.04M 173.97M 173.64M 173.78M 172.00M 171.89M 171.81M 170.96M 169.08M
Diluted Earnings per Share		 $0.17 $0.01 ($0.71) ($0.35) ($0.32) $0.21 $0.00 $0.04 $0.37 $0.23 ($0.04)
Weighted Average Diluted Shares Outstanding		 172.65M 172.67M 174.04M 173.97M 173.64M 173.78M 172.00M 171.89M 171.81M 170.96M 169.08M
Weighted Average Basic & Diluted Shares Outstanding		 172.30M 173.67M 173.58M 173.62M 172.99M 171.59M 171.58M 171.58M 167.72M 168.74M 168.68M
Cash Dividends to Common per Share		 $0.62 - $0.62 $0.62 $0.47 - $0.47 $0.47 $0.47 - $0.47

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 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		 42 -29 21 -3.95 45 138 263 -249 55 -19 121
Net Cash From Operating Activities		 171 237 227 290 304 337 382 397 459 366 276
Net Cash From Continuing Operating Activities		 171 237 227 290 304 337 382 397 459 366 276
Net Income / (Loss) Continuing Operations		 212 246 218 286 307 140 422 251 250 -202 110
Consolidated Net Income / (Loss)		 212 246 218 286 307 140 422 251 250 -202 110
Depreciation Expense		 - - - - - - - 0.00 0.00 9.41 69
Amortization Expense		 -15 -21 -16 -19 -26 -19 -28 -32 -24 -21 -21
Non-Cash Adjustments to Reconcile Net Income		 -8.04 15 24 28 30 51 25 225 -2.26 539 99
Changes in Operating Assets and Liabilities, net		 -17 -4.05 1.85 -4.97 -8.10 165 -37 -47 235 41 20
Net Cash From Investing Activities		 -4,823 434 -781 -4,252 -1,871 -88 -5,627 -3,254 1,444 3,497 359
Net Cash From Continuing Investing Activities		 -4,823 434 -781 -4,252 -1,871 -88 -5,627 -3,254 1,444 3,497 359
Purchase of Property, Leasehold Improvements and Equipment		 - - - - - - - 0.00 0.00 -0.59 -13
Purchase of Investment Securities		 -7,204 -3,167 -3,639 -8,025 -6,950 -2,243 -12,660 -7,050 -1,930 -1,705 -6,461
Sale and/or Maturity of Investments		 2,637 3,601 2,858 3,261 5,050 1,828 6,872 3,722 3,356 5,171 6,762
Other Investing Activities, net		 -238 0.00 0.00 512 29 326 161 75 18 32 71
Net Cash From Financing Activities		 4,694 -700 575 3,958 1,613 -111 5,508 2,607 -1,848 -3,883 -514
Net Cash From Continuing Financing Activities		 4,694 -700 575 3,958 1,613 -111 5,508 2,607 -1,848 -3,883 -514
Issuance of Debt		 6,885 3,240 5,599 9,498 7,339 5,097 14,250 7,401 2,030 2,754 6,175
Repayment of Debt		 -3,030 -3,671 -5,160 -5,718 -5,748 -5,083 -8,975 -4,389 -3,418 -6,158 -6,202
Repurchase of Common Equity		 - - - - - - - 0.00 0.00 -29 -110
Payment of Dividends		 -167 -233 -235 -277 -321 -349 -371 -421 -427 -404 -323
Other Financing Activities, Net		 -42 -36 -21 -22 -30 -54 -34 -54 -32 -46 -55
Cash Interest Paid		 127 165 207 319 426 312 288 608 1,293 1,261 967
Cash Income Taxes Paid		 0.13 0.29 0.30 0.55 -0.11 0.23 -0.07 0.68 6.67 4.48 4.01

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 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		 -60 -74 67 -40 -53 7.40 343 -287 -8.89 74 98
Net Cash From Operating Activities		 112 111 95 100 87 85 101 57 -18 136 170
Net Cash From Continuing Operating Activities		 112 111 95 100 87 85 101 57 -18 136 170
Net Income / (Loss) Continuing Operations		 31 -1.72 -123 -60 -56 37 -0.35 6.98 63 40 -6.34
Consolidated Net Income / (Loss)		 31 -1.72 -123 -60 -56 37 -0.35 6.98 63 40 -6.34
Depreciation Expense		 - - 0.00 - 1.03 8.19 16 17 15 21 21
Amortization Expense		 -3.62 -6.45 -5.88 -6.32 -6.18 -2.80 -1.28 -6.60 -10 -2.98 -6.34
Non-Cash Adjustments to Reconcile Net Income		 -0.92 1.33 -1.59 -0.32 -2.26 4.83 2.22 96 -8.71 9.31 62
Changes in Operating Assets and Liabilities, net		 86 118 225 167 150 37 84 -55 -78 69 100
Net Cash From Investing Activities		 447 256 376 488 1,286 1,347 261 -492 833 -242 221
Net Cash From Continuing Investing Activities		 447 256 376 488 1,286 1,347 261 -492 833 -242 221
Purchase of Property, Leasehold Improvements and Equipment		 - - 0.00 - - - -4.26 -2.59 -1.63 -4.29 -11
Purchase of Investment Securities		 -479 -410 -391 -449 -540 -398 -1,852 1,745 -4,592 -1,761 -126
Sale and/or Maturity of Investments		 590 992 642 1,045 1,573 1,688 2,035 -2,182 5,410 1,499 345
Other Investing Activities, net		 337 -327 125 -109 253 57 83 -52 16 24 12
Net Cash From Financing Activities		 -619 -440 -404 -628 -1,426 -1,424 -18 147 -823 180 -293
Net Cash From Continuing Financing Activities		 -619 -440 -404 -628 -1,426 -1,424 -18 147 -823 180 -293
Issuance of Debt		 261 265 590 190 434 1,540 2,065 1,522 585 2,002 1,175
Repayment of Debt		 -766 -591 -878 -704 -1,733 -2,843 -1,948 -1,288 -1,304 -1,662 -1,369
Repurchase of Common Equity		 - - 0.00 - - -18 -32 -0.04 -16 -62 -0.80
Payment of Dividends		 -107 -107 -107 -108 -108 -81 -81 -81 -81 -80 -79
Other Financing Activities, Net		 -7.92 -8.05 -8.94 -6.01 -9.22 -22 -22 -6.52 -8.08 -19 -19
Cash Interest Paid		 343 311 344 324 326 268 245 238 253 230 206
Cash Income Taxes Paid		 0.94 1.44 1.16 0.86 2.63 -0.17 0.78 0.97 1.68 0.58 1.89

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 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		 9,377 8,813 10,259 14,467 16,552 16,959 22,703 25,354 24,036 19,802 20,003
Cash and Due from Banks		 96 76 70 106 150 290 551 291 350 323 453
Trading Account Securities		 9.44 - - - - - - - 0.00 4.45 217
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 18,069
Loans and Leases		 9,077 8,693 10,057 14,191 - 16,573 22,003 25,018 23,787 19,048 18,069
Other Assets		 184 44 100 171 16,402 96 149 45 -101 427 1,264
Total Liabilities & Shareholders' Equity		 9,377 8,813 10,259 14,467 16,552 16,959 22,703 25,354 24,036 19,802 20,003
Total Liabilities		 6,871 6,319 7,341 11,093 12,767 13,055 18,085 20,810 19,649 16,008 16,499
Long-Term Debt		 6,777 6,231 7,201 10,965 12,268 12,852 17,853 20,383 19,286 15,725 16,112
Other Long-Term Liabilities		 94 88 141 128 324 202 231 427 363 283 386
Commitments & Contingencies		 0.00 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 3,504
Total Preferred & Common Equity		 2,493 2,494 2,911 3,364 3,763 3,886 4,588 4,519 4,368 3,787 3,499
Total Common Equity		 2,493 2,494 2,911 3,364 3,763 3,886 4,588 4,519 4,368 3,787 3,499
Common Stock		 3,071 3,091 3,508 3,968 4,371 4,704 5,375 5,478 5,509 5,513 5,432
Retained Earnings		 -546 -541 -567 -569 -593 -829 -795 -969 -1,151 -1,734 -1,945
Accumulated Other Comprehensive Income / (Loss)		 -33 -56 -30 -34 -16 11 8.31 10 9.45 8.27 12
Noncontrolling Interest		 13 0.00 6.34 10 22 18 31 25 20 6.88 5.48

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 Q2 2025 Q3 2025 Q1 2026
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 6/30/2025 9/30/2025 3/31/2026
Total Assets		 24,799 25,386 24,863 24,043 23,266 22,637 21,443 19,957 20,584 19,700 19,630
Cash and Due from Banks		 272 516 483 421 414 374 322 669 388 378 549
Trading Account Securities		 - - - - - - - 29 108 183 244
Loans and Leases, Net of Allowance		 24,423 0.00 24,483 23,716 23,189 22,871 21,603 19,050 19,706 18,067 17,558
Loans and Leases		 24,423 - 24,483 23,716 23,189 22,871 21,603 19,050 19,706 18,067 17,558
Other Assets		 104 24,870 -103 -94 -337 -608 -481 210 382 1,072 1,278
Total Liabilities & Shareholders' Equity		 24,799 25,386 24,863 24,043 23,266 22,637 21,443 19,957 20,584 19,700 19,630
Total Liabilities		 20,115 20,825 20,296 19,550 19,101 18,632 17,583 16,269 16,961 16,102 16,212
Long-Term Debt		 19,905 20,542 20,002 19,272 18,843 18,375 17,236 15,927 16,529 15,463 15,852
Other Long-Term Liabilities		 - 283 - 278 258 257 346 341 432 639 360
Commitments & Contingencies		 0.00 0.00 0.00 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 3,624 3,597 3,418
Total Preferred & Common Equity		 4,658 4,535 4,541 4,471 4,145 3,985 3,845 3,682 3,617 3,591 3,415
Total Common Equity		 4,658 4,535 4,541 4,471 4,145 3,985 3,845 3,682 3,617 3,591 3,415
Common Stock		 5,469 5,485 5,493 5,501 5,518 5,526 5,523 5,488 5,496 5,487 5,438
Retained Earnings		 -815 -958 -963 -1,041 -1,383 -1,552 -1,690 -1,815 -1,889 -1,906 -2,031
Accumulated Other Comprehensive Income / (Loss)		 3.83 7.83 11 11 9.87 10 11 8.59 9.80 9.32 7.86
Noncontrolling Interest		 26 25 26 23 20 20 16 6.75 6.77 6.70 3.09

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 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
Growth Metrics		 - - - - - - - - - - -
Profitability Metrics		 - - - - - - - - - - -
Valuation Ratios		 - - - - - - - - - - -
Leverage & Solvency		 - - - - - - - - - - -
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Efficiency Ratios		 - - - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - - - -
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) $0.64
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 170.96M
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) $0.64
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 170.96M
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 $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 168.74M
Debt Service Ratios		 - - - - - - - - - - -
Payout Ratios		 - - - - - - - - - - -

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 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
DEI Shares Outstanding		 - - - - - - - - - - 168,738,642.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 168,738,642.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - -0.04
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 235.43% -204.74% -16.55% -28.52% -17.22% 640.98% 153.99% 214.41% 239.23% - 2.97%
EBITDA Growth		 -70.89% 86.16% -212.82% -167.64% -311.80% 703.52% 112.68% 130.62% 209.07% - -50.89%
EBIT Growth		 -69.43% 97.79% -201.43% -156.88% -271.91% 4,000.98% 101.02% 116.79% 210.44% - -629.01%
NOPAT Growth		 -70.59% 97.79% -172.13% -140.28% -226.51% 5,351.16% 98.61% 121.24% 254.09% - -287.19%
Net Income Growth		 -70.59% 96.35% -203.89% -158.74% -282.74% 2,278.50% 99.72% 111.60% 213.54% - -1,706.27%
EPS Growth		 -71.19% 104.00% -205.97% -160.34% -288.24% 2,000.00% 100.00% 111.43% 215.63% - 0.00%
Operating Cash Flow Growth		 34.97% -14.63% -13.69% -20.50% -22.25% -23.94% 6.24% -42.87% -120.87% - 68.86%
Free Cash Flow Firm Growth		 121.69% 150.36% 281.75% 187.14% 207.80% 234.63% 68.77% 4.06% -20.29% - -89.92%
Invested Capital Growth		 -3.35% -5.03% -8.34% -8.91% -11.23% -17.55% -14.74% -9.95% -9.65% - -1.77%
Revenue Q/Q Growth		 195.41% -138.20% -5.52% -12.78% 242.11% 149.64% -65.90% 7.96% -4.72% - -3.58%
EBITDA Q/Q Growth		 -70.47% -126.20% -1,614.66% 49.00% 7.55% 174.65% -63.96% 22.77% 230.23% - -84.30%
EBIT Q/Q Growth		 -69.02% -103.17% -11,912.59% 51.72% 6.36% 171.83% -96.87% 697.90% 516.00% - -119.96%
NOPAT Q/Q Growth		 -70.18% -102.33% -11,912.59% 51.72% 6.36% 196.69% -103.18% 838.76% 579.44% - -114.16%
Net Income Q/Q Growth		 -70.18% -105.62% -7,077.74% 51.12% 7.24% 166.94% -100.94% 2,089.74% 807.90% - -116.00%
EPS Q/Q Growth		 -70.69% -94.12% -7,200.00% 50.70% 8.57% 165.63% -100.00% 0.00% 825.00% - -117.39%
Operating Cash Flow Q/Q Growth		 -11.09% -0.79% -13.82% 5.89% -13.04% -2.95% 18.89% -43.06% -131.77% - 24.52%
Free Cash Flow Firm Q/Q Growth		 14.21% 46.62% 60.37% 6.92% 22.43% 59.39% -19.12% -34.07% -6.22% - 623.93%
Invested Capital Q/Q Growth		 -3.27% -0.39% -2.81% -2.73% -5.73% -7.48% 0.50% 2.74% -5.42% - -1.77%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 5.44% 0.00% -88.10% -51.52% -13.92% 4.16% 4.40% 5.00% 17.34% - 2.10%
EBIT Margin		 6.13% 0.00% -84.05% -46.53% -12.74% 3.66% 0.34% 2.48% 16.06% - -1.73%
Profit (Net Income) Margin		 5.83% 0.00% -84.74% -47.49% -12.88% 3.45% -0.10% 1.75% 16.70% - -1.67%
Tax Burden Percent		 95.12% 168.73% 100.82% 102.06% 101.11% 101.24% -95.64% 88.55% 97.67% - 122.35%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 93.07% 29.57% 79.65% 106.43% - 78.93%
Effective Tax Rate		 4.88% 0.00% 0.00% 0.00% 0.00% -1.24% 195.64% 11.45% 2.33% - 0.00%
Return on Invested Capital (ROIC)		 0.26% 0.00% -1.58% -0.83% -0.20% 0.29% -0.03% 0.24% 1.99% - -0.10%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.26% 0.00% -1.77% -0.93% -0.30% 0.29% -0.03% 0.23% 2.02% - -0.11%
Return on Net Nonoperating Assets (RNNOA)		 1.10% 0.00% -8.00% -4.14% -1.29% 1.22% -0.11% 1.03% 8.84% - -0.48%
Return on Equity (ROE)		 1.36% 0.00% -9.58% -4.97% -1.49% 1.51% -0.14% 1.27% 10.84% - -0.58%
Cash Return on Invested Capital (CROIC)		 4.25% 6.19% 8.74% 8.88% 11.16% 18.60% 15.66% 10.44% 10.68% - 2.26%
Operating Return on Assets (OROA)		 0.27% 0.00% -2.23% -1.17% -0.28% 0.30% 0.03% 0.26% 1.99% - -0.14%
Return on Assets (ROA)		 0.25% 0.00% -2.25% -1.19% -0.29% 0.28% -0.01% 0.19% 2.07% - -0.13%
Return on Common Equity (ROCE)		 1.35% 0.00% -9.53% -4.94% -1.48% 1.50% -0.14% 1.27% 10.81% - -0.58%
Return on Equity Simple (ROE_SIMPLE)		 4.58% 0.00% 0.20% -3.88% -6.27% 0.00% -2.15% -0.33% 2.99% - 3.04%
Net Operating Profit after Tax (NOPAT)		 31 -0.71 -86 -41 -39 37 -1.19 8.77 60 - -4.60
NOPAT Margin		 5.83% 0.00% -58.83% -32.57% -8.91% 3.45% -0.32% 2.20% 15.69% - -1.21%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.01% 0.19% 0.10% 0.09% 0.00% 0.00% 0.01% -0.02% - 0.01%
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		 93.87% 0.00% 184.05% 146.53% 112.74% 96.34% 99.66% 97.52% 83.94% - 101.73%
Earnings before Interest and Taxes (EBIT)		 32 -1.02 -122 -59 -55 40 1.24 9.90 61 - -6.57
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 29 -7.47 -128 -65 -60 45 16 20 66 - 7.98
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.74 0.75 0.80 0.76 0.86 0.80 0.93 0.91 0.88 - 0.95
Price to Tangible Book Value (P/TBV)		 0.74 0.75 0.80 0.76 0.86 0.80 0.93 0.91 0.88 - 0.95
Price to Revenue (P/Rev)		 3.12 4.82 5.12 5.07 6.53 1.68 1.71 1.45 1.24 - 2.08
Price to Earnings (P/E)		 16.53 13.21 667.65 0.00 0.00 0.00 0.00 0.00 29.47 - 31.18
Dividend Yield		 12.84% 13.12% 12.90% 14.24% 12.26% 12.52% 10.15% 9.77% 10.21% - 9.82%
Earnings Yield		 6.05% 7.57% 0.15% 0.00% 0.00% 0.00% 0.00% 0.00% 3.39% - 3.21%
Enterprise Value to Invested Capital (EV/IC)		 0.93 0.94 0.95 0.94 0.96 0.94 0.95 0.97 0.96 - 0.96
Enterprise Value to Revenue (EV/Rev)		 20.82 32.89 33.66 35.32 40.01 10.30 9.29 8.52 7.15 - 11.94
Enterprise Value to EBITDA (EV/EBITDA)		 120.26 96.12 0.00 0.00 0.00 0.00 0.00 931.69 124.06 - 128.22
Enterprise Value to EBIT (EV/EBIT)		 105.61 87.02 1,721.30 0.00 0.00 0.00 0.00 0.00 163.22 - 190.66
Enterprise Value to NOPAT (EV/NOPAT)		 108.50 88.89 2,663.17 0.00 0.00 0.00 0.00 0.00 169.89 - 198.22
Enterprise Value to Operating Cash Flow (EV/OCF)		 46.46 48.41 49.03 50.35 51.47 50.27 50.21 59.05 81.43 - 53.72
Enterprise Value to Free Cash Flow (EV/FCFF)		 21.59 14.78 10.35 10.10 8.08 4.59 5.60 8.76 8.51 - 42.15
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 4.29 4.40 4.52 4.59 4.46 4.14 4.32 4.56 4.30 - 4.64
Long-Term Debt to Equity		 4.29 4.40 4.52 4.59 4.46 4.14 4.32 4.56 4.30 - 4.64
Financial Leverage		 4.27 4.44 4.51 4.48 4.37 4.28 4.43 4.58 4.38 - 4.47
Leverage Ratio		 5.32 5.53 5.58 5.54 5.44 5.36 5.50 5.67 5.52 - 5.57
Compound Leverage Factor		 5.32 5.53 5.58 5.54 5.44 4.99 1.63 4.51 5.87 - 4.40
Debt to Total Capital		 81.09% 81.47% 81.90% 82.11% 81.70% 80.56% 81.20% 82.02% 81.13% - 82.26%
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		 81.09% 81.47% 81.90% 82.11% 81.70% 80.56% 81.20% 82.02% 81.13% - 82.26%
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		 0.10% 0.08% 0.09% 0.09% 0.07% 0.04% 0.03% 0.03% 0.04% - 0.02%
Common Equity to Total Capital		 18.81% 18.45% 18.01% 17.80% 18.22% 19.40% 18.77% 17.95% 18.84% - 17.72%
Debt to EBITDA		 104.39 83.46 -1,801.29 -106.63 -65.73 -75.43 -248.14 791.74 105.11 - 109.65
Net Debt to EBITDA		 102.11 81.94 -1,761.72 -104.46 -64.50 -73.87 -237.72 773.16 102.54 - 105.85
Long-Term Debt to EBITDA		 104.39 83.46 -1,801.29 -106.63 -65.73 -75.43 -248.14 791.74 105.11 - 109.65
Debt to NOPAT		 94.18 77.18 2,306.12 -174.95 -103.72 -114.20 -295.79 -2,349.11 143.94 - 169.51
Net Debt to NOPAT		 92.12 75.78 2,255.46 -171.39 -101.78 -111.85 -283.38 -2,293.96 140.42 - 163.63
Long-Term Debt to NOPAT		 94.18 77.18 2,306.12 -174.95 -103.72 -114.20 -295.79 -2,349.11 143.94 - 169.51
Noncontrolling Interest Sharing Ratio		 0.52% 0.00% 0.52% 0.53% 0.46% 0.33% 0.34% 0.35% 0.30% - 0.14%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 854 1,253 2,009 2,148 2,630 4,192 3,391 2,235 2,096 - 342
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2,361.75% 2,209.77% -1,112.85% - 1,611.54%
Free Cash Flow to Firm to Interest Expense		 0.00 1.78 5.84 6.33 0.00 0.00 0.00 0.00 0.00 - 0.00
Operating Cash Flow to Interest Expense		 0.00 0.16 0.28 0.30 0.00 0.00 0.00 0.00 0.00 - 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.16 0.28 0.30 0.00 0.00 0.00 0.00 0.00 - 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.04 0.03 0.03 0.03 0.02 0.08 0.09 0.11 0.12 - 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		 23,765 23,674 23,008 22,379 21,097 19,519 19,616 20,153 19,060 - 19,270
Invested Capital Turnover		 0.04 0.03 0.03 0.03 0.02 0.08 0.09 0.11 0.13 - 0.08
Increase / (Decrease) in Invested Capital		 -824 -1,253 -2,095 -2,189 -2,669 -4,155 -3,392 -2,227 -2,037 - -346
Enterprise Value (EV)		 22,201 22,213 21,761 21,045 20,231 18,420 18,698 19,451 18,250 - 18,537
Market Capitalization		 3,328 3,257 3,312 3,024 3,301 3,012 3,432 3,303 3,159 - 3,231
Book Value per Share		 $25.95 $25.35 $23.81 $22.95 $22.14 $21.89 $21.46 $21.08 $20.93 - $20.24
Tangible Book Value per Share		 $25.95 $25.35 $23.81 $22.95 $22.14 $21.89 $21.46 $21.08 $20.93 - $20.24
Total Capital		 23,765 23,674 23,008 22,379 21,097 19,519 19,616 20,153 19,060 - 19,270
Total Debt		 19,272 19,286 18,843 18,375 17,236 15,725 15,927 16,529 15,463 - 15,852
Total Long-Term Debt		 19,272 19,286 18,843 18,375 17,236 15,725 15,927 16,529 15,463 - 15,852
Net Debt		 18,850 18,936 18,429 18,001 16,914 15,401 15,259 16,141 15,085 - 15,303
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 4.26 2.59 1.63 - 11
Net Nonoperating Expense (NNE)		 0.00 1.00 38 19 17 0.00 -0.84 1.78 -3.83 - 1.74
Net Nonoperating Obligations (NNO)		 19,272 19,286 18,843 18,375 17,236 15,725 15,927 16,529 15,463 - 15,852
Total Depreciation and Amortization (D&A)		 -3.62 -6.45 -5.88 -6.32 -5.15 5.40 15 10 4.86 - 15
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.17 ($0.01) ($0.71) ($0.35) ($0.32) $0.21 $0.00 $0.04 $0.37 $0.23 ($0.04)
Adjusted Weighted Average Basic Shares Outstanding		 172.65M 172.67M 174.04M 173.97M 173.64M 173.78M 172.00M 171.89M 171.81M 170.96M 169.08M
Adjusted Diluted Earnings per Share		 $0.17 $0.01 ($0.71) ($0.35) ($0.32) $0.21 $0.00 $0.04 $0.37 $0.23 ($0.04)
Adjusted Weighted Average Diluted Shares Outstanding		 172.65M 172.67M 174.04M 173.97M 173.64M 173.78M 172.00M 171.89M 171.81M 170.96M 169.08M
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		 172.30M 173.67M 173.58M 173.62M 172.99M 171.59M 171.58M 171.58M 167.72M 168.74M 168.68M
Normalized Net Operating Profit after Tax (NOPAT)		 123 80 79 66 54 39 36 49 59 - 34
Normalized NOPAT Margin		 23.43% 0.00% 54.27% 52.12% 12.47% 3.56% 9.62% 12.33% 15.43% - 8.96%
Pre Tax Income Margin		 6.13% 0.00% -84.05% -46.53% -12.74% 3.41% 0.10% 1.98% 17.09% - -1.36%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 -0.36 -0.17 0.00 0.00 0.00 0.00 0.00 - 0.00
NOPAT to Interest Expense		 0.00 0.00 -0.25 -0.12 0.00 0.00 0.00 0.00 0.00 - 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 -0.36 -0.17 0.00 0.00 0.00 0.00 0.00 - 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 -0.25 -0.12 0.00 0.00 0.00 0.00 0.00 - 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 208.22% 170.84% 5,236.35% -277.44% -178.28% -200.17% -478.19% -2,965.88% 301.42% - 309.22%
Augmented Payout Ratio		 208.22% 170.84% 5,236.35% -277.44% -178.28% -214.66% -555.24% -3,480.92% 362.85% - 385.09%

Financials Breakdown Chart

Key Financial Trends

Here are the key takeaways from Blackstone Mortgage Trust (BXMT) quarterly financial statements over the last four years, focusing on trends in income, cash flow, and the balance sheet that retail investors may find meaningful.

  • Improved cash generation from operations in late 2025: Net cash from continuing operating activities reached about $136.3 million in Q4 2025, signaling stronger quarterly cash generation.
  • Positive quarterly earnings in late 2025: Net income from continuing operations in Q3 2025 was about $63.4 million, with continuing profitability evident again in Q4 2025 (about $39.6 million). This points to ongoing earnings strength in the second half of 2025.
  • Steady, predictable per-share dividends: Cash dividends to common per share were $0.47 in 2025 quarters, providing consistent income to shareholders.
  • Deleveraging trend in 2025: Long-term debt declined from roughly $16.53 billion in mid-2025 to about $15.46 billion by Q3 2025, suggesting a modest reduction in leverage and improved balance-sheet flexibility.
  • Stable core interest income generation: Net interest income remained robust in 2025, with annualized quarterly readings around $320–$360 million, indicating steady core earnings from the loan and investment portfolio.
  • Asset base remained in a stable range: Total assets hovered in the low- to mid-teens of billions across 2024–2025, e.g., about $19.7B to $20.6B around 2025, signaling a steady asset footprint.
  • Quarterly revenue stays in a broad, modest range: Total revenue across 2025 quarters moved within roughly $369M–$398.6M, suggesting a stable but non-aggressive revenue trajectory.
  • Active financing activity provides liquidity: Financing cash flows were positive in several 2025 quarters, with notable debt issuance supporting liquidity, including around $2.0B of debt issuance in some 2025 periods.
  • Net loan portfolio declined in a quarter: Loans and Leases net of allowance fell from about $19.71B in Q2 2025 to about $18.07B in Q3 2025, indicating a contraction in net loan exposure for that period.
  • Earnings per share showed notable volatility: Basic and diluted EPS fluctuated across quarters (e.g., negative or minimal EPS in early 2025 and recoveries later in 2025), highlighting earnings volatility that may influence near-term valuation.
05/07/26 05:57 AM 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 2025 ended on December 31, 2025.

How has Blackstone Mortgage Trust's net income changed over the last 10 years?

Blackstone Mortgage Trust's net income appears to be on a downward trend, with a most recent value of $109.67 million in 2025, falling from $211.89 million in 2015. The previous period was -$201.83 million in 2024. View Blackstone Mortgage Trust's forecast to see where analysts expect Blackstone Mortgage Trust to go next.

How has Blackstone Mortgage Trust's revenue changed over the last 10 years?

Over the last 10 years, Blackstone Mortgage Trust's total revenue changed from $258.22 million in 2015 to $1.54 billion in 2025, a change of 497.1%.

How much debt does Blackstone Mortgage Trust have?

Blackstone Mortgage Trust's total liabilities were at $16.50 billion at the end of 2025, a 3.1% increase from 2024, and a 140.1% increase since 2015.

How much cash does Blackstone Mortgage Trust have?

In the past 10 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 $452.53 million as of their latest financial filing in 2025.


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Financial statements for NYSE:BXMT last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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