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Blackstone Inc.

Investment Advice

$114.35
+1.48%
Market cap $85.8B

Blackstone is the world's largest alternative-asset manager with $1.304 trillion in total assets under management, including $937.6 billion in fee-earning assets under management, at the end of March 2026.

It is a $85.8B financial services company. Revenue grew 14.8% over the last year, and it keeps 22¢ of every dollar of sales as profit. It trades at 40.3× earnings.

Location
New York, NY
Employees
5 285
Sector
Financial Services
Founded
1985

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Valuation64Growth50Profitability100Health36Quality77Moat88

Strong profitability, quality and moat; Health lags behind.

Valuation64
  • P/E vs own history25th pct · 20/25
  • FCF yield6.4% · 20/25
  • P/S8.8x · 12/25
  • EV/EBITDA20.0x · 12/25
Growth50
  • Revenue CAGR-10.6% · 0/25
  • Net income CAGR-15.3% · 0/25
  • EPS CAGR ~5Y20.9% · 25/25
  • Fwd implied growth129.7% · 25/25
Profitability100
  • ROIC56.7% · 25/25
  • ROE40.9% · 25/25
  • Net margin21.8% · 25/25
  • Operating margin47.2% · 25/25
Health36
  • Altman Z2.42 · 18/25
  • Current ratio0.68 · 0/25
  • Interest coverage7.1x · 18/25
  • Net cash / debtn/a · 0/25
Quality77
  • Piotroski F5/9 · 15/25
  • Beneish M-3.73 · 25/25
  • FCF conversion156% · 25/25
  • Margin stabilityσ 10.1% · 12/25
Moat88
  • ROIC >12% years7/7 yrs · 25/25
  • Median gross margin46.3% · 20/25
  • FCF-positive years8/10 yrs · 18/25
  • Worst-year net marginworst 17.1% · 25/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

  1. Q3 2026Insiders
    3 open-market insider purchases
    ~455 shares bought by insiders
  2. Q2 2026Insiders
    3 open-market insider purchases
    ~439 shares bought by insiders
  3. FY2021Financial
    Revenue crossed $10B
    $22.6B for the year
  4. FY2021Financial
    Best year on record
    $5.86B net income
  5. FY2018Financial
    Positive free cash flow every year since
    8-year streak
  6. FY2016Financial
    Profitable every year on record
    10 consecutive profitable years in our data
  7. FY2016Financial
    Revenue already above $1B
    $5.13B in first reported year
  8. 2016Acquisition
    The company became Brixmor Property Group and Blackstone sold its remaining interest in the company in August 2016
  9. 2013Acquisition
    2GIG was flipped to Nortek Security & Control, LLC for $135 million
  10. 2009Acquisition
    Blackstone acquired Busch Entertainment Corporation from Anheuser-Busch InBev for $2.9 billion
  11. 2008Acquisition
    Blackstone, NBC Universal, and Bain Capital acquired The Weather Channel from Landmark Communications…
  12. Jun 21, 2007IPO
    Blackstone became a public company via an initial public offering, selling a 12.3% stake in the…
  13. 2002Acquisition
    Blackstone acquired TRW Automotive in a $4.7 billion buyout, the largest private equity deal announced…
  14. 1996Acquisition
    Also, in 1996, Blackstone partnered with the Loewen Group, the second-largest funeral home and cemetery operator in…
  15. 1990Product
    Blackstone created a fund of hedge funds business to manage internal assets for Blackstone and its senior…
  16. 1989Acquisition
    Blackstone acquired freight railroad operator CNW Corporation
  17. 1985Founded
    Blackstone was founded in 1985 by Peter G

Achievements

Verifiable track record, straight from the reported numbers.

#24 largest of 129 Financial Services companies by market cap
$10 000 invested in 2021 would be worth ~$8 882 today — price return only
$14.5B revenue in FY2025
Revenue up 14.8% year over year
Profitable 10 years in a row
Positive free cash flow 8 years in a row
5 285 employees
ROIC of 56.7%

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

  • High gross margin (83.1%)
  • Strongly profitable — 21.8% net margin
  • Revenue growing 14.8% year over year
  • Strong cash conversion — FCF is 34.1% of revenue
  • Interest covered 7.1× by operating earnings

Watch-outs

Nothing stands out as a concern in the available data.

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

9 of 11 checks passed
  • Revenue growing+14.8% YoY
  • Profitable$3.52B TTM
  • Profit growing+17.9% YoY
  • Generates cash$5.49B TTM
  • Debt under controlcurrent ratio 0.68
  • Established company$85.8B market cap
  • Not printing shares+11.9% shares over ~5y
  • Proven track record10/10 profitable years
  • Financially stableAltman Z 2.4 — grey
  • Pays a dividendyield 4.50%
  • Valuation not extremeP/E 40.3
Peer comparisonBlackstone Inc. vs 6 largest financial services peers — cap, P/E, growth and margin side by sideOpen ▾
CompanyMarket capP/ERevenue growthNet marginProfile
BX this company$85.8B40.3+14.8%21.8%Solid
BRK.A Berkshire Hathaway Inc.$1.1T11.6+3.9%22.3%Mixed
BRK.B Berkshire Hathaway$1.1T11.6+0.0%18.0%Strong
JPM JPMorgan Chase & Co.$886.2B13.6+13.5%32.6%Strained
V VISA Inc.$723.9B31.9+14.4%50.8%Solid
MA Mastercard Incorporated$516.4B31.7+16.0%46.3%Mixed
BAC Bank of America Corporation$380.4B11.3+15.9%27.8%Mixed

Head-to-head: BX vs BRK.A · BX vs BRK.B · BX vs JPM

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 7Buy 15Hold 11

Appendix · Financial records

The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of BX on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $114.35 · market cap $85.8B.