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Blackstone Inc. (BX) stock

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NYSE: BX NYSE Asset Management & Custody Banks Next results ~January 28, 2027

C Fundamentals grade

Blackstone Inc. is an alternative asset management business that invests and manages third-party capital through investment funds, separately managed accounts and other vehicles. These include drawdown funds, perpetual-capital vehicles, collateralised loan obligations and an insurance platform.

The firm earns most of its income from contractual fees charged to the funds it runs, their investors and those funds' portfolio companies—covering management, transaction and monitoring fees—together with capital markets services. It also commits its own capital alongside clients, receiving a proportional share of each fund's income plus carried interest, known as Performance Allocations, and incentive fees once agreed investment returns are achieved. Its clients are fund investors who typically commit capital that is drawn down over time.

Blackstone reports across four segments, two of which are Credit & Insurance and Multi-Asset Investing. Its results are materially affected by financial-market and economic conditions in the United States, Europe and Asia, and to a lesser extent elsewhere. The company notes that managing outside capital does not require substantial investment of its own capital to support expansion.

Based on Blackstone Inc.'s 10-K filed February 27, 2026.

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Blackstone files

Where Blackstone stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $16.1bn, up 17.2% on a year earlier, faster than 15.2% a quarter earlier.

Our model value for Blackstone is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 7, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 28, 2027 (estimated)

Blackstone Inc.'s trailing-twelve-month revenue grew 17.2% year on year, with a free-cash-flow margin of 34.1%.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 67.2% while net income grew 22.9%: a 44pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Strengths

  • Fast growth. Revenue grew 17.2% over the last 12 months, against a median of 17.2% for asset management & custody banks companies we cover.
  • Strong cash generation. 34.1% of revenue turned into free cash flow.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Below peers: change in share count. Change in share count of 1.9% ranks 25 of 33 asset management & custody banks companies we cover (median -0.3%).

Latest results: FY2026 Q2

Filed August 7, 2026
Earnings per share
$1.32 against an average estimate of $1.26: beat by 4.9%
Revenue
$5.04bn, up 35.9% on a year earlier
Next report
October 22, 2026; average EPS estimate $1.72

Blackstone's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+2.3%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$16.1B
Net margin
21.8%
EPS (TTM, diluted)
$4.47

Growth

Revenue growth
+17.2%
Change in growth rate
+2.0 pts
Share count change
+1.9%

Earnings

Last results
October 22, 2026
Next results (est.)
January 28, 2027

News & updates

Updated November 3, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement

    Blackstone group buys 49.9% stake in Mitsubishi's LNG Canada unit

    Blackstone Inc. said funds managed by its Credit & Insurance division agreed to invest $3.1 billion to acquire a 49.9% non-controlling interest in a Mitsubishi Corporation subsidiary. The deal involves Canadian institutional investors, including CPP Investments and OMERS. Mitsubishi will remain the controlling partner and retain its full share of LNG offtake.

    Company releaseRead source ↗
  2. Agreement
  3. Financing

    Blackstone prices $1.1bn senior notes for subsidiary

    Blackstone Inc. said it priced a $1.1 billion senior notes offering for its indirect subsidiary, Blackstone Reg Finance Co. L.L.C. The deal comprises $600 million of 5.650% notes due 2031 and $500 million of 5.900% notes due 2033. The company intends to use the proceeds for general corporate purposes.

    Company releaseRead source ↗
  4. Announcement

    Blackstone COO discusses Q3 2026 results on CNBC

    Blackstone Inc. said President and COO Jon Gray appeared on CNBC to discuss the firm's third-quarter 2026 performance. The interview, dated 27 October 2026, covered the company's outlook for the economy, interest rates, and demand for compute. Gray described the quarter as resilient despite broader market volatility.

    Company releaseRead source ↗
  5. Financing

    Blackstone plans senior notes sale via subsidiary

    Blackstone Inc. said it intends to offer senior notes issued by its indirect subsidiary, Blackstone Reg Finance Co. L.L.C. The company stated the notes will be fully and unconditionally guaranteed by Blackstone Inc. and five other indirect subsidiaries. Proceeds from the offering are to be used for general corporate purposes.

    Company releaseRead source ↗
  6. Announcement

    Blackstone opens second India office in Bengaluru

    Blackstone Inc. said it opened a new Global Capability Center in Bengaluru on 27 October 2026. The firm stated the office will consolidate corporate functions and professional services partnerships. Susan Yung, a Senior Managing Director, will oversee the new location.

    Company releaseRead source ↗
  7. Announcement

    Blackstone prices $1.1 billion in senior notes

    Blackstone Inc. said it priced a $1.1 billion senior notes offering on 27 October 2026. The deal comprises $600 million of 5.650% notes due 2031 and $500 million of 5.900% notes due 2033. The company stated it will use the proceeds for general corporate purposes.

  8. Announcement

    Blackstone plans senior notes sale via subsidiary

    Blackstone Inc. said it intends to offer senior notes issued by Blackstone Reg Finance Co. L.L.C. The company stated the notes will be fully guaranteed by Blackstone Inc. and several indirect subsidiaries. Proceeds from the offering are earmarked for general corporate purposes.

  9. Announcement

    Blackstone joins $63bn AI compute financing deal

    Blackstone Inc. said it will provide the committed second lien financing for a $63 billion transaction to fund AI compute capacity for Anthropic. Bank of America, Citi and Morgan Stanley are arranging the first lien portion, with deliveries expected to start in calendar 2027. The assets will be purchased from Broadcom and leased through a special purpose vehicle.

    Company releaseRead source ↗
  10. Announcement
  11. Results
  12. Insider trade
  13. Announcement

    Blackstone closes $8.7bn energy transition fund

    Blackstone Inc. said its Energy Transition Partners V fund reached a final close of $8.7 billion on 19 October 2026. The company noted the vehicle is more than 50% larger than its predecessor and began its investment period in June. BETP has since funded three platform companies and made three acquisitions focused on energy efficiency.

    Company releaseRead source ↗
  14. Announcement
  15. Leadership
  16. Announcement
  17. Insider trade
  18. Insider trade
  19. Announcement
  20. Insider trade
  21. Insider trade
  22. Insider trade
  23. Insider trade
  24. Insider trade
  25. Insider trade
  26. Insider trade
  27. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

No model value for Blackstone Inc. at the moment. Current status: valuation models disagree too widely to rate. Available reported financials are shown below.

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valuation models disagree too widely to rate: held for review.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Blackstone Inc. as an asset manager, broker or exchange, with every model that fits that kind of business. Cost of equity 8.6%: the 10-year Treasury yield (4.9%) plus a beta of 0.8 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$67 ~$56–$84 Primary model, counts double
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$34 ~$29–$41 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$47 ~$42–$54 Included
Price-to-book vs peers Book value per share times peers' typical (harmonic-mean) price-to-book. ~$18 ~$19–$49 Left out: out of range vs price (0.15x)
Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. ~$76 ~$67–$89 Included
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Blackstone Inc. with asset managers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

77 /100

Strong moat

How hard Blackstone's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Net income has been a median 5.4% of total assets over 10 years.

  • Durability 17 / 20

    Net margin has been a median 22.0%; its worst year was 17.9%.

  • Discipline 12 / 20

    The diluted share count fell 34.2% over five years; stock-based pay has been a median 8.1% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (82 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Blackstone Inc.: consensus estimates
Fiscal yearEPSGrowthRevenueGrowth
Current $5.92 +6% $14.8bn +13%
Next $7.38 +25% $18.5bn +26%

Next year's EPS estimate has moved −1.5% in 90 days, across 24 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −1.7% on 90 days ago. In the last 30 days, 0 analysts raised Blackstone Inc.'s forecast and 8 cut it.

Consensus EPS forecast Blackstone Inc., last 90 days
$5.50 $6.00 $6.50 $7.00 $7.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $6.02 Current fiscal year, 60 days ago: $6.02 Current fiscal year, 30 days ago: $6.02 Current fiscal year, 7 days ago: $5.92 Current fiscal year, Now: $5.92 $5.92 Next fiscal year, 90 days ago: $7.49 Next fiscal year, 60 days ago: $7.49 Next fiscal year, 30 days ago: $7.48 Next fiscal year, 7 days ago: $7.40 Next fiscal year, Now: $7.38 $7.38

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $6.02$7.49
60 days ago $6.02$7.49
30 days ago $6.02$7.48
7 days ago $5.92$7.40
Now $5.92$7.38

Earnings against estimates

Blackstone Inc.: reported EPS against the consensus estimate
Quarter toEstimateActualSurprise
Sept 2026 $1.26 $1.32 +4.9%
Jun 2026 $1.34 $1.52 +13.7%
Mar 2026 $1.34 $1.36 +1.7%
Dec 2025 $1.54 $1.75 +13.9%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 22, 2026

No numeric guidance in Blackstone Inc.'s latest earnings release (filed October 22, 2026). Some companies give their outlook only on the earnings call.

Analyst recommendations

24 analysts, Oct 2026
Buy1354%
Hold1146%
Sell00%

Monthly trend

  1. Oct 2026491124
  2. Sep 2026491023
  3. Aug 2026391123
  4. Jul 2026391123

Counts of recommendations published by analysts covering Blackstone Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
2.5%
of tradable shares
Days to cover
3.68
at average volume
Short interest, 1 month
−5%
to October 15, 2026
Held by institutions
73%
of shares
Held by insiders
1.0%
of shares
Employees
5,285
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

Price behaviour

52-week range
Not enough history
From 52-week high
—
vs 50-day average
—
vs 200-day average
—
Volatility (1 year)
—
Beta vs S&P 500
—

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Blackstone Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Blackstone Inc.
$5B $10B $15B $20B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $8.4B Revenue (TTM), FY23 Q4: $8B Revenue (TTM), FY24 Q1: $10.3B Revenue (TTM), FY24 Q2: $10.3B Revenue (TTM), FY24 Q3: $11.4B Revenue (TTM), FY24 Q4: $13.2B Revenue (TTM), FY25 Q1: $12.8B Revenue (TTM), FY25 Q2: $13.7B Revenue (TTM), FY25 Q3: $13.2B Revenue (TTM), FY25 Q4: $14.5B Revenue (TTM), FY26 Q1: $14.8B Revenue (TTM), FY26 Q2: $16.1B $16.1B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $8.4B
FY23 Q4 $8B
FY24 Q1 $10.3B
FY24 Q2 $10.3B
FY24 Q3 $11.4B
FY24 Q4 $13.2B
FY25 Q1 $12.8B
FY25 Q2 $13.7B
FY25 Q3 $13.2B
FY25 Q4 $14.5B
FY26 Q1 $14.8B
FY26 Q2 $16.1B
Revenue growth, TTM YoY Blackstone Inc.
-50% 0% 50% 100% 150% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -32.9% Revenue growth, TTM YoY, FY23 Q4: -5.8% Revenue growth, TTM YoY, FY24 Q1: 116.4% Revenue growth, TTM YoY, FY24 Q2: 48.2% Revenue growth, TTM YoY, FY24 Q3: 35.4% Revenue growth, TTM YoY, FY24 Q4: 64.9% Revenue growth, TTM YoY, FY25 Q1: 24.2% Revenue growth, TTM YoY, FY25 Q2: 33.3% Revenue growth, TTM YoY, FY25 Q3: 15.2% Revenue growth, TTM YoY, FY25 Q4: 9.2% Revenue growth, TTM YoY, FY26 Q1: 15.2% Revenue growth, TTM YoY, FY26 Q2: 17.2% 17.2%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -32.9%
FY23 Q4 -5.8%
FY24 Q1 116.4%
FY24 Q2 48.2%
FY24 Q3 35.4%
FY24 Q4 64.9%
FY25 Q1 24.2%
FY25 Q2 33.3%
FY25 Q3 15.2%
FY25 Q4 9.2%
FY26 Q1 15.2%
FY26 Q2 17.2%
FCF margin (TTM) Blackstone Inc.
20% 30% 40% 50% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 43.1% FCF margin (TTM), FY23 Q4: 47.8% FCF margin (TTM), FY24 Q1: 43.3% FCF margin (TTM), FY24 Q2: 38.3% FCF margin (TTM), FY24 Q3: 36.2% FCF margin (TTM), FY24 Q4: 25.9% FCF margin (TTM), FY25 Q1: 27.9% FCF margin (TTM), FY25 Q2: 23.9% FCF margin (TTM), FY25 Q3: 27.7% FCF margin (TTM), FY25 Q4: 31.5% FCF margin (TTM), FY26 Q1: 29.9% FCF margin (TTM), FY26 Q2: 34.1% 34.1%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 43.1%
FY23 Q4 47.8%
FY24 Q1 43.3%
FY24 Q2 38.3%
FY24 Q3 36.2%
FY24 Q4 25.9%
FY25 Q1 27.9%
FY25 Q2 23.9%
FY25 Q3 27.7%
FY25 Q4 31.5%
FY26 Q1 29.9%
FY26 Q2 34.1%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Blackstone Inc.: annual financial statements
Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 1.8 3.1 3.3 4.0 6.6 7.5 4.6 5.1 7.1 6.8 7.3 6.1 22.6 8.5 8.0 13.2 14.5 16.1
Net income −2.4 −0.4 −0.2 0.2 1.2 1.6 0.7 1.0 1.5 1.5 2.0 1.0 5.9 1.7 1.4 2.8 3.0 3.5
Diluted EPS — −$0.51 −$0.17 $0.20 $0.99 $1.29 $1.04 $1.56 $2.21 $2.26 $3.03 $1.50 $8.13 $2.36 $1.84 $3.62 $3.87 $4.47
Growth (year on year)
Revenue — +75.9% +4.3% +23.6% +64.5% +13.2% −37.9% +10.8% +38.8% −4.4% +7.4% −16.8% +270.0% −62.3% −5.8% +64.9% +9.2% +17.2%
Net income — — — — +435.8% +35.3% −55.2% +46.4% +41.6% +4.8% +32.9% −49.0% +460.3% −70.2% −20.4% +99.6% +8.7% +22.9%
Diluted EPS — — — — +382.9% +30.3% −19.4% +50.0% +41.7% +2.3% +34.1% −50.5% +442.0% −71.0% −22.0% +96.7% +6.9% +20.5%
Margins
Net margin −134.8% −11.9% −5.2% 5.4% 17.7% 21.2% 15.3% 20.2% 20.6% 22.6% 27.9% 17.1% 25.9% 20.5% 17.3% 21.0% 20.9% 21.8%
Free-cash-flow margin 21.9% −13.7% 32.7% 13.6% 53.3% 21.7% 50.3% −2.1% −23.1% 0.4% 25.9% 29.9% 17.4% 71.6% 47.8% 25.9% 31.5% 34.1%
Cash flow
Cash from operations 0.4 −0.4 1.1 0.6 3.5 1.7 2.4 −0.1 −1.6 0.0 2.0 1.9 4.0 6.3 4.1 3.5 4.7 5.6
Capital spending 0.0 0.1 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.1 0.1 0.1 0.2 0.2 0.1 0.1 0.1
Free cash flow 0.4 −0.4 1.1 0.5 3.5 1.6 2.3 −0.1 −1.7 0.0 1.9 1.8 3.9 6.1 3.8 3.4 4.5 5.5
Stock-based pay 3.0 2.4 1.4 0.9 0.9 0.7 0.6 0.3 0.3 0.4 0.4 0.4 0.6 0.8 1.0 1.2 1.4 1.6
Free cash flow after stock pay −2.7 −2.9 −0.3 −0.4 2.7 0.9 1.7 −0.4 −2.0 −0.3 1.5 1.4 3.3 5.3 2.8 2.3 3.1 3.9
Balance sheet
Cash 1.0 0.6 0.8 0.7 0.8 1.4 1.8 1.8 2.0 2.2 2.2 2.0 2.1 4.3 3.0 2.0 2.6 2.5
Total debt 0.0 7.4 9.4 13.1 0.0 9.5 6.7 8.9 15.2 10.4 11.5 5.7 7.9 12.5 11.6 11.5 12.6 13.3
Net debt (negative = net cash) −1.0 6.8 8.6 12.4 −0.8 8.1 4.9 7.1 13.2 8.2 9.4 3.7 5.7 8.2 8.7 9.5 9.9 10.8
Diluted shares — 728m 951m 1,077m 1,181m 1,226m 1,188m 1,195m 666m 1,207m 676m 697m 720m 741m 755m 767m 780m 788m
Returned to shareholders
Dividends — — — — — — — — 2.8 3.0 2.4 2.4 4.6 6.5 4.3 4.4 6.0 6.4
Total returned — — — — — — — — 2.8 3.0 2.4 2.4 4.6 6.5 4.3 4.4 6.0 6.4

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Dividends, buybacks and capital spending

Dividends (TTM)
$6.4B
Returned to shareholders
116%
of free cash flow
Diluted share count
+1.9%
year over year
Total shareholder yield
7.1%
dividends 7.1% + buybacks 0.0% of market value
Dividend payout ratio
182%
of net income paid out

Competitors: side by side with peers

Closest by revenue in asset management & custody banks
Growth, margins and cash generation against peers
Last 12 months unless stated BX STT AMP KKR BNY BLK Median
Revenue, last 12 months $16.1bn $15.5bn $20.1bn $21.3bn $22.0bn $27.3bn $858m
Revenue growth, last 12 months 17.2% 13.3% 8.8% 31.1% 11.2% 95.6% 17.2%
Revenue growth, 3-year average 32.3% 8.8% 8.9% 24.2% 8.4% — 10.2%
Revenue growth, latest quarter 35.9% 12.9% 6.1% 12.5% 11.7% 30.6% 14.4%
Net margin 21.8% 23.8% 20.7% 14.8% 29.8% 24.1% 15.2%
Cash from operations / revenue 34.7% −14.0% 37.2% 11.7% 42.7% 14.4% 26.4%
Free-cash-flow margin 34.1% −24.1% 36.4% 12.6% 32.5% 12.9% 21.9%
Free-cash-flow margin, 3-year average 32.1% −31.0% 38.5% 26.6% 5.7% — 17.6%
Stock pay / revenue 9.8% — 1.0% 3.6% 0.0% 5.4% 3.7%
Change in share count 1.9% −3.4% −5.8% — −3.8% 6.6% −0.2%

Median of all 43 companies we cover in asset management & custody banks. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

43 asset management & custody banks companies
Measures ranked against peers
Measure Company Peer median Rank
Revenue growth Growth 17.2% 17.2% 22 of 43
Change in growth rate Growth +2.0pp +1.0pp 19 of 43
Net margin Profitability 21.8% 15.2% 17 of 43
Stock pay as % of revenue Cash generation 9.8% 4.3% 30 of 40
Change in share count Balance sheet 1.9% -0.3% 25 of 33

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue YoY
Investment Advice $8.1B ▲ 12.3%
Investment Performance $978M ▲ 1.5%

These categories overlap or exclude eliminations, so shares aren't shown.

From Blackstone Inc.'s 10-K filed February 27, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Reported value
$63.3B
Institutions reporting
2,116
Shares held vs prior quarter
▲ 2.7%
Positions opened / closed
150 / 128

Top buyers and sellers, Q2 2026: 1,097 institutions bought and 842 sold ; the biggest buyer was Jpmorgan Chase & Co (+3.2M shares) and the biggest seller D. E. Shaw & Co., Inc (−2.1M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $6.1B 51.9M 9.7% ▼ 1.4%
Vanguard Capital Management LLC $5.7B 48.5M 9.0% ▲ 0.4%
Morgan Stanley $4.1B 34.8M 6.5% ▲ 7.2%
State Street Corp $3.8B 32.5M 6.0% ▲ 1.4%
Charles Schwab Investment Management Inc $2.8B 23.5M 4.4% ▲ 10.0%
Jpmorgan Chase & Co $2.2B 19.2M 3.5% ▲ 20.3%
Geode Capital Management, LLC $2.2B 18.4M 3.4% ▲ 0.3%
Vanguard Portfolio Management LLC $1.9B 15.8M 2.9% ▼ 1.7%
Capital Research Global Investors $1.6B 13.2M 2.5% ▼ 10.5%
Bank Of America Corp $1.4B 11.6M 2.2% ▲ 0.5%
Goldman Sachs Group Inc $1B 8.7M 1.6% ▲ 16.3%
UBS Group AG $860M 7.3M 1.4% ▼ 2.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Blackstone Inc.'s complete shareholder register. Values are as reported by the filers ; 7 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Recent insider open-market transactions
Insider Date Trade Shares Price Value
Blackstone Holdings Iv L.P. 10% owner October 21, 2026 Buy 27,719 $26.20 $726,227
Blackstone Holdings Iv L.P. 10% owner October 21, 2026 Buy 76,336 $26.20 $2M
Blackstone Holdings I L.P. 10% owner September 25, 2026 Sell 124,600 $16.40 $2M
Blackstone Holdings I L.P. 10% owner September 24, 2026 Sell 400 $17.02 $6,808
Blackstone Holdings Iv L.P. 10% owner September 23, 2026 Buy 637 $26.17 $16,662
Blackstone Holdings Iv L.P. 10% owner September 23, 2026 Buy 191,058 $26.17 $5M
Baratta Joseph Director September 18, 2026 Sell 57,754 $124.13 $7.2M
Baratta Joseph Director September 18, 2026 Sell 42,246 $123.35 $5.2M
Blackstone Holdings Ii L.P. 10% owner August 25, 2026 Sell 2,001,323 $21.85 $43.7M
Blackstone Holdings Ii L.P. 10% owner August 25, 2026 Sell 571,237 $21.85 $12.5M
Blackstone Holdings Iv L.P. 10% owner August 21, 2026 Buy 23,981 $26.14 $626,860
Blackstone Holdings Iv L.P. 10% owner August 21, 2026 Buy 248,661 $26.14 $6.5M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 82 trades and filings

In the last 12 months, 2 members of Congress disclosed 1 purchase and 2 sales of Blackstone Inc. shares.

  • Julie Johnson(D-TX 32):Sale (full), $1,001 - $15,000, traded December 18, 2025, filed January 15, 2026
  • Dan Newhouse(R-WA 4):Purchase, $1,001 - $15,000, traded December 11, 2025, filed January 15, 2026
  • Julie Johnson(D-TX 32):Sale (partial), $1,001 - $15,000, traded November 13, 2025, filed December 11, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 28, 2027 estimated from the company's past filing pattern, not announced

  • October 22, 2026
  • July 23, 2026
  • April 23, 2026
  • January 29, 2026
  • October 23, 2025
  • July 24, 2025

Recent SEC filings

Data status

When each part of this page on Blackstone Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Blackstone Inc. in brief

What does Blackstone Inc. do?
Blackstone Inc. is a US-listed company in the asset management & custody banks industry. Its financial year ends in December.
What is Blackstone Inc.'s stock ticker?
Blackstone Inc. trades under the ticker BX on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Blackstone Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Blackstone Inc. reported revenue of $16.1B, 17.2% higher than a year earlier, according to its SEC filings.
What is Blackstone Inc.'s free cash flow?
Blackstone Inc.'s free-cash-flow margin is 34.1% of revenue over the trailing twelve months.
Who are Blackstone Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and Morgan Stanley. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Blackstone Inc.'s market cap?
On November 2, 2026, Blackstone Inc.'s market capitalisation was about $94.7B, with a price-to-earnings ratio of 26.9 and net debt of $10.8B. Market figures come from third-party market data and may be delayed.
Does Blackstone Inc. pay a dividend?
Yes: Blackstone Inc. paid $6.4B in dividends over the trailing twelve months, a dividend yield of 7.06% and a payout ratio of 181.5%.
Who are Blackstone Inc.'s competitors?
In our Asset Management & Custody Banks peer group, the companies closest to Blackstone Inc. are State Street Corporation, Ameriprise Financial, KKR & Co., BNY Mellon and BlackRock. The side-by-side comparison below sets their revenue, margins and growth against Blackstone Inc.'s.
Are insiders buying or selling Blackstone Inc. stock?
Over the last 12 months, Blackstone Inc.'s directors and officers reported 33 open-market purchases and 45 sales on Form 4. The insider trading page charts every trade.
When is Blackstone Inc.'s next earnings date?
Around January 28, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Blackstone Inc. announces its own schedule.