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Earnings transcript
Read the complete earnings call transcript.
BX
Blackstone Inc.
$120.29
6.1
(5.34%)
| Exchange: | NYSE |
| Market Cap: | 144.5B |
| Shares Outstanding: | 722.229M |
Delayed data
About The Company
| Sector: | Financial Services | |||||
| Industry: | Asset Management | |||||
| CEO: | Stephen Allen Schwarzman | |||||
| Full Time Employees: | 4895 | |||||
| Address: |
| |||||
| Website: | https://www.blackstone.com |
Blackstone Inc. operates as a prominent alternative asset manager, specializing in a broad spectrum of investment strategies. Its expertise encompasses real estate, private equity, credit solutions, comprehensive hedge fund offerings, public debt and equity, multi-asset class approaches, and secondary funds of funds. While often backing nascent businesses, the firm also extends its services to capital markets. Its real estate division targets diverse opportunities: high-potential opportunistic ventures, core-plus assets, and stable, income-generating commercial properties. Additionally, it engages in debt investments secured by commercial real estate. These activities span North America, Europe, and Asia. Blackstone’s global private equity arm executes varied transactions, including substantial buyouts, mid-market acquisitions, special situations, and distressed mortgage loans. They also manage “buy and build” platforms, which involve consolidating multiple acquisitions under a single management team, alongside growth equity and development projects, often taking significant majority stakes or minority positions in operating companies. The scope of its investments covers sectors like shipping, real estate, corporate and consumer debt, and greenfield alternative energy projects in energy, power, and property development. The firm actively seeks opportunities in dislocated markets, shipping, financial institution breakups, reinsurance, and initiatives aimed at improving freight mobility. Key industry focuses further include financial services, healthcare, life sciences, enterprise technology, and consumer goods, including consumer tech. Beyond these, it actively explores investment prospects across Asia and Latin America, typically maintaining a three-year investment period for its ventures. The hedge fund business provides a broad range of commingled and customized fund solutions. Concurrently, its credit division concentrates on loans and securities issued by non-investment grade entities. These span the entire capital structure, encompassing senior debt, subordinated debt, preferred stock, and common equity. Established in 1985, Blackstone Inc. is headquartered in New York City, with a significant global presence through additional offices throughout Asia, Europe, and North America.
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Revenue Segmentation
EPS
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Earnings Call
AI summary
Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 7,438,517 | 11,374,228 | 13,828,896 |
| Gross Profit | 7,006,649 | 10,930,540 | 11,899,653 |
| EBITDA | 2,997,789 | 6,495,445 | 7,214,185 |
| Operating Income | 2,957,714 | 6,459,480 | 7,178,286 |
| Net Income | 1,390,880 | 2,776,508 | 3,019,214 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 40,287,530 | 43,469,875 | 47,708,975 |
| Total Liabilities | 22,212,316 | 23,974,860 | 25,827,803 |
| Total Stockholders Equity | 6,816,798 | 8,212,321 | 8,665,526 |
| Total Debt | 12,293,882 | 12,286,698 | 14,167,186 |
| Cash and Cash Equivalents | 2,955,866 | 1,972,140 | 2,854,682 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | 4,056,906 | 3,481,662 | 4,663,161 |
| Capital Expenditure | -224,231 | -61,409 | -115,703 |
| Free Cash Flow | 3,832,675 | 3,420,253 | 4,547,458 |
| Net Income | 2,444,253 | 5,437,809 | 3,019,214 |
| Net Change in Cash | -1,221,652 | -1,095,871 | 0 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2029 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 13,285,107.208 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 15,008,119.856 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 14,065,263.800 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | 7,382,696.657 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | 8,340,195.872 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | 7,816,239.223 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 6,926,780.270 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 8,115,604.304 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 7,465,063.375 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 1,608,526.356 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 1,817,144.263 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 1,702,985.695 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 9.560 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 10.390 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 8.870 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 1 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 2 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Login — it's freeForward P/E Ratios
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Login — it's freeSWOT Analysis
Strengths (preview)
- Record Financial Performance: Blackstone Inc. reported record financial results in Q4 and full-year 2025, as highlighted in the earnings call transcript. Key metrics such as revenue, net income, and operating income likely reflect strong growth, underpinned by effective asset management and operational efficiency.
- Robust Free Cash Flow: Based on cash flow statement data, Blackstone demonstrates strong free cash flow yield (TTM), indicating solid liquidity to support dividends, reinvestments, and debt management, positioning the company favorably against industry peers.
- Strategic Market Positioning: The earnings call summary emphasizes Blackstone’s strategic positioning in a complex market environment, suggesting adept navigation of industry trends within the asset management sector, as supported by sector performance metrics.
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At what price to buy it? -
Intrinsic Value Calculator
Based on current fundamentals and analyst forecasts, MARKETSnap estimates BX intrinsic value between $65.65 – $120.83 per share. This depends on revenue growth, margins, and discount rate.
This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.
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Common questions about BX valuation
Is Blackstone Inc. (BX) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Blackstone Inc. (BX) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is BX a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether BX trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is BX’s P/E ratio?
You can see BX’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for BX?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is BX a good long-term investment?
Whether BX fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
BX
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Daily snapshot
5.34
Trading Metrics:
| Open: | 115.16 | Previous Close: | 114.19 | |
| Day Low: | 115.16 | Day High: | 121 | |
| Year Low: | 101.73 | Year High: | 190.09 | |
| Price Avg 50: | 119.64 | Price Avg 200: | 141.2 | |
| Volume: | 5.428M | Average Volume: | 7.423M |
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Login — it's freeBX full analysis
Hey everyone, welcome back to the channel! Today, we’re diving deep into a comprehensive analysis of Blackstone Inc., ticker symbol BX, one of the heavyweights in the alternative asset management space. If you’re looking to understand what makes this company tick, how it’s performing, and whether it’s a solid pick for your portfolio, you’re in the right place. Let’s break it down step by step, so stick around and let’s get started! First off, let’s set the stage. Blackstone isn’t…
