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BX Blackstone Inc.

NYSEFinancialsInvestment AdviceNew York, NYFY ends December 31

New 8-K: Filed an 8-K current report in the last 7 days.Profitable 5/5: Fiscal years with net income above zero, out of the last five reported.FY2025 10-K filed Feb 27, 2026 (SEC EDGAR)

FY2025 at a glance

Fundamentals from SEC filings, not quotes
Revenue
$14.5BYoYup 9.22%ended Dec 31, 2025
Net income
$3.02B20.9% margin
Diluted EPS
$3.87YoYup 6.91%
Free cash flow
$4.55B31.5% margin
Cash
$2.63B
Total debt
—Not meaningful for financial companies
About Blackstone Inc.

Overview

Blackstone Inc. (BX) is listed on NYSE; the SEC classifies it under "Investment Advice".

For fiscal 2025 (ended Dec 31, 2025) it reported revenue of $14.45B, up 9.2% from fiscal 2024.

Net income was $3.02B, a net margin of 20.9%.

At fiscal year end it had total assets of $47.71B and stockholders' equity of $8.67B (18.2% of assets).

Financial company (SIC 6000–6799): gross margin, current ratio, debt figures, interest coverage, the F-Score and Z'' are not meaningful for bank and insurer balance sheets, so they are left blank.

Fiscal years shown
FY2016–FY2025 (10 years)
Latest 10-K
Feb 27, 2026
Latest filing
8-KNov 2, 2026
FY2016–FY2025 · annual 10-K

Charts

Revenue and net income

Revenue and net income, fiscal years FY2016 to FY2025.
PeriodRevenueNet incomeNet margin
FY2016$5.13B$1.04B20.3%
FY2017$7.12B$1.47B20.7%
FY2018$6.83B$1.54B22.6%
FY2019$7.34B$2.05B27.9%
FY2020$6.1B$1.05B17.1%
FY2021$22.6B$5.86B25.9%
FY2022$8.52B$1.75B20.5%
FY2023$8.02B$1.39B17.3%
FY2024$13.2B$2.78B21.0%
FY2025$14.5B$3.02B20.9%

Diluted EPS

Diluted EPS, fiscal years FY2016 to FY2025.
PeriodEPS (diluted)
FY2016$1.56
FY2017$2.21
FY2018$2.26
FY2019$3.03
FY2020$1.50
FY2021$8.13
FY2022$2.36
FY2023$1.84
FY2024$3.62
FY2025$3.87

Free cash flow vs net income

Free cash flow vs net income, fiscal years FY2016 to FY2025.
PeriodFree cash flowNet income
FY2016—$1.04B
FY2017—$1.47B
FY2018$27.4M$1.54B
FY2019$1.9B$2.05B
FY2020$1.82B$1.05B
FY2021$3.92B$5.86B
FY2022$6.1B$1.75B
FY2023$3.83B$1.39B
FY2024$3.42B$2.78B
FY2025$4.55B$3.02B

Diluted shares

Diluted shares, fiscal years FY2016 to FY2025.
PeriodDiluted shares (weighted)
FY20161.2B
FY2017666M
FY20181.21B
FY2019676M
FY2020697M
FY2021720M
FY2022741M
FY2023755M
FY2024767M
FY2025780M

Cash vs total debt

Cash vs total debt, fiscal years FY2016 to FY2025.
PeriodCash & equivalents
FY2016$1.84B
FY2017$1.99B
FY2018$2.21B
FY2019$2.17B
FY2020$2B
FY2021$2.12B
FY2022$4.25B
FY2023$2.96B
FY2024$1.97B
FY2025$2.63B

Total debt: Not meaningful for financial companies

Each bar is one fiscal year as reported in its 10-K; bars below the zero line are negative and gaps are years not reported. Per-share figures are as reported, not adjusted for stock splits; comparisons across a likely split are left blank.

FY2025 · 5-year trend

Ratios

Profitability

Gross marginNot meaningful for financial companies
—
Net margin
20.9%
FCF margin
31.5%
Return on equity
35.8%
Return on assets
6.6%

Growth

Growth. Compound annual growth: (end ÷ start)^(1 ÷ years) − 1, both ends positive.
Metric1y3y CAGR5y CAGR9y CAGR
Revenueup 9.22%up 19.27%up 18.82%up 12.21%
EPS (diluted)up 6.91%up 17.92%up 20.87%—
Free cash flowup 32.96%down 9.33%up 20.04%—
Change in share count
+1.77%

Financial strength

Current ratioNot meaningful for financial companies
—
Debt / equityNot meaningful for financial companies
—
Liabilities / assets
54.1%
Net debtNot meaningful for financial companies
—
Interest coverageNot meaningful for financial companies
—
Equity / assets
18.2%

Shareholder returns

Dividends per share
$4.69
Dividends paid
$6.01B
Payout ratio
199.2%
Stock comp. / revenue
10.0%

Financial company (SIC 6000–6799): gross margin, current ratio, debt figures, interest coverage, the F-Score and Z'' are not meaningful for bank and insurer balance sheets, so they are left blank.

Piotroski F-Score · Altman Z''-Score

Quality screens

Piotroski F-Score

Not meaningful for financial companies.

Altman Z''-Score

Not meaningful for financial companies.

Screening heuristic, not a recommendation. Financial company (SIC 6000–6799): gross margin, current ratio, debt figures, interest coverage, the F-Score and Z'' are not meaningful for bank and insurer balance sheets, so they are left blank.

Last 10 fiscal years · newest first

Financial statements

USD millions, except per-share figures (USD). Share counts in millions.

Income statement

Income statement. USD millions, except per-share figures (USD). Share counts in millions.
MetricFY2025Dec 31, 2025FY2024Dec 31, 2024FY2023Dec 31, 2023FY2022Dec 31, 2022FY2021Dec 31, 2021FY2020Dec 31, 2020FY2019Dec 31, 2019FY2018Dec 31, 2018FY2017Dec 31, 2017FY2016Dec 31, 2016
Revenue14,45013,2308,0238,51822,5776,1027,3386,8337,1195,126
YoY (Revenue)+9.22%+64.90%-5.81%-62.27%+270.00%-16.85%+7.39%-4.01%+38.89%—
Interest expense508444432317198166200164197153
Pretax income7,1726,4592,9583,46213,5592,6183,8183,5134,1172,382
Income tax1,1251,0225134731,184356-48249743132
Net income3,0192,7771,3911,7485,8571,0452,0501,5421,4711,039
YoY (Net income)+8.74%+99.62%-20.41%-70.16%+460.32%-49.00%+32.94%+4.82%+41.53%—
EPS (basic)3.873.621.842.368.141.503.032.272.211.60
EPS (diluted)3.873.621.842.368.131.503.032.262.211.56
YoY (EPS (diluted))+6.91%+96.74%-22.03%-70.97%+442.00%-50.50%————
Diluted shares (weighted)7807677557417206976761,2076661,195

Balance sheet

Balance sheet. USD millions, except per-share figures (USD). Share counts in millions.
MetricFY2025Dec 31, 2025FY2024Dec 31, 2024FY2023Dec 31, 2023FY2022Dec 31, 2022FY2021Dec 31, 2021FY2020Dec 31, 2020FY2019Dec 31, 2019FY2018Dec 31, 2018FY2017Dec 31, 2017FY2016Dec 31, 2016
Cash & equivalents2,6311,9722,9564,2522,1201,9992,1722,2081,9921,837
Goodwill1,8901,8901,8901,8901,8901,9011,8701,8701,7781,719
Total assets47,70943,47040,28842,52441,19626,26932,58628,92534,42926,403
Long-term debt12,57711,46011,60612,4917,8565,73211,54210,39515,1678,941
Total liabilities25,82823,97522,21222,84319,49011,67917,48215,17120,69913,888
Retained earnings1928086611,7483,648336610———
Stockholders' equity8,6668,2126,8177,6569,4236,6527,010———
Shares outstanding749732719710704684—659659588

Cash flow

Cash flow. USD millions, except per-share figures (USD). Share counts in millions.
MetricFY2025Dec 31, 2025FY2024Dec 31, 2024FY2023Dec 31, 2023FY2022Dec 31, 2022FY2021Dec 31, 2021FY2020Dec 31, 2020FY2019Dec 31, 2019FY2018Dec 31, 2018FY2017Dec 31, 2017FY2016Dec 31, 2016
Operating cash flow4,6633,4824,0576,3363,9861,9361,96345.7——
Capital expenditures11661.422423564.311260.318.424.321.8
Free cash flow4,5473,4203,8336,1013,9221,8241,90327.4——
YoY (Free cash flow)+32.96%-10.76%-37.18%+55.57%+114.97%-4.13%+6,853.51%———
Stock-based compensation1,4451,168988846637438417367339324
Dividends paid6,0134,4244,2686,5194,6032,3862,397———
Dividends per share4.693.453.324.943.571.911.922.422.321.66
Key financials (annual, 10-K)

Values as reported in each fiscal year's Form 10-K (XBRL data on SEC EDGAR); growth and ratios are computed from those values. Revenue is the total revenue figure the company tagged (omitted when the only figure tagged is evidently partial, e.g. below net income); growth is only shown between consecutive ~12-month fiscal years reported with the same revenue measure. Per-share figures and share counts are as reported and not adjusted for later stock splits. — = not reported.

FY2025 · per diluted weighted share

Per share and valuation context

EPS (diluted)
$3.87
Revenue per share
$18.52
FCF per share
$5.83
Book value per share
$11.11
Tangible book per share
$8.68
Cash per share
$3.37
Dividends per share
$4.69
Public floatas of Jun 30, 2025
$109B

Price ratios need a live quote. This page shows no stock prices. Per-share figures are as reported, not adjusted for stock splits; comparisons across a likely split are left blank.

Price ratio calculator

Type a share price to compute ratios from the latest 10-K figures. Nothing is stored or sent. (FY2025)

Market capPrice × diluted weighted shares
—
P/EPrice ÷ diluted EPS
—
P/BPrice ÷ book value per share
—
P/SPrice ÷ revenue per share
—
P/FCFPrice ÷ FCF per share
—
Dividend yieldDividends per share ÷ price
—
SEC EDGAR

Filing timeline

  1. 8-KNew
    Current report· Oct 27, 2026(SEC EDGAR)
    • 1.01Material agreement
    • 2.03New financial obligation
    • 8.01Other events
    • 9.01Financial statements and exhibits
  2. 8-K
    Current report· Oct 27, 2026(SEC EDGAR)
    • 8.01Other events
    • 9.01Financial statements and exhibits
  3. 8-K
    Current report· Oct 27, 2026(SEC EDGAR)
    • 8.01Other events
    • 9.01Financial statements and exhibits
  4. 8-K
    Current report· Oct 22, 2026(SEC EDGAR)
    • 2.02Results of operations
    • 9.01Financial statements and exhibits
  5. 8-K
    Current report· Oct 9, 2026(SEC EDGAR)
    • 5.02Officer or director changes
  6. 8-K
    Current report· Sep 22, 2026(SEC EDGAR)
    • 7.01Regulation FD disclosure
    • 9.01Financial statements and exhibits
  7. 10-Q
    Quarterly report· Jun 30, 2026(SEC EDGAR)
  8. 8-K
    Current report· Jul 23, 2026(SEC EDGAR)
    • 2.02Results of operations
    • 9.01Financial statements and exhibits
  9. 8-K
    Current report· Jun 23, 2026(SEC EDGAR)
    • 7.01Regulation FD disclosure
    • 9.01Financial statements and exhibits
  10. 10-Q
    Quarterly report· Mar 31, 2026(SEC EDGAR)
All filings on SEC EDGAR

Frequently asked questions

What does Blackstone Inc. do?

The SEC classifies Blackstone Inc. under Standard Industrial Classification (SIC) code 6282, "Investment Advice". It is headquartered in New York, NY. It is incorporated in DE. In fiscal 2025 it reported revenue of $14.45B and net income of $3.02B in its annual 10-K report.

What was Blackstone Inc.'s revenue in 2025?

Blackstone Inc. reported revenue of $14.45B for fiscal 2025, which ended Dec 31, 2025, up 9.2% from $13.23B in fiscal 2024, according to its annual 10-K report filed with the SEC on Feb 27, 2026.

What was Blackstone Inc.'s net income in 2025?

Blackstone Inc. reported net income of $3.02B for fiscal 2025, a net margin of 20.9% of revenue.

Where is Blackstone Inc. listed?

According to the SEC, Blackstone Inc.'s ticker BX is listed on NYSE.

When does Blackstone Inc.'s fiscal year end?

According to the SEC, Blackstone Inc.'s fiscal year ends on December 31; its latest reported fiscal year (2025) ended Dec 31, 2025.

Source: SEC EDGAR · Last updated:

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Not investment advice: This page shows financial data that companies reported to the US Securities and Exchange Commission, for information only. It is not investment advice or a recommendation to buy or sell any security, and it shows no stock prices. Data may be incomplete, restated or out of date — check the original filings on SEC EDGAR before making decisions.