Blackstone (BX) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Blackstone

NYSE•Financial Services•Asset Management

$125.41+1.96(0.02%)After hours

Market Cap

$98.75B

P/E

28.1x

P/S

6.1x

P/B

11.0x

Blackstone Inc. is an alternative asset management firm specializing in private equity, venture capital, real estate, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage, seed, middle market, mature, late venture, growth capital, emerging growth, turnaround, and later stage companies. It also provide capital markets services. The real estate segment specializes in opportunistic, core+ investments as well as debt investment opportunities collateralized by commercial real estate, and stabilized income-oriented commercial real estate across North America, Europe and Asia. Within fund of fund investments, it seeks to invest in private equity funds, venture capital funds, mezzanine funds, distressed debt/turnaround funds, secondary investment funds & real estate funds. The firm's corporate private equity business pursues transactions throughout the world across a variety of transaction types, including large buyouts, recapitalization, special situations, distressed mortgage loans, mid-cap buyouts, buy and build platforms, which involves multiple acquisitions behind a single management team and platform, and growth equity/development projects involving significant majority stakes in portfolio companies and minority investments in operating companies, shipping, real estate, corporate or consumer loans, and alternative energy greenfield development projects in energy and power, property, dislocated markets, shipping opportunities, financial institution breakups, re-insurance, and improving freight mobility, financial services, cargo, data processing, oil & gas production, oil & gas refining, oil & gas storage, building products, home entertainment, B2B, consumer electronics, home supply store, lodging, commercial services & supplies, metal & mineral mining machinery, coal, hazardous waste collection, solid waste collection, waste water treatment, renewable electricity, equity REITs, power generation by nuclear & fossil fuels, personal loan services, chemicals, other specialty retail, biotech, pharmaceuticals, metal, aerospace, healthcare, cable, entertainment services, infrastructure services, transportation infrastructure, exhaust, life sciences, alternative carriers, infrastructure, system software, manufacturing services, enterprise tech and consumer, enterprise software & application, as well as consumer technologies. The firm considers investment in Asia, Latin America, Japan, Australia, South Korea, Singapore, Hong Kong, Africa, Middle East, Beijing, Shanghai, India, Belgium, France, Ireland, Luxembourg, Monaco, Netherlands, United Kingdom, North America and South America. It seeks to invest between $0.25 million and $900 million per transaction. It invests in companies with enterprise value between $500 million and $5000 million. It makes equity investments up to $300 million through fund of fund investments. It has a three year investment period. The firm prefers to take majority and minority stakes. Its hedge fund business manages a broad range of commingled and customized fund solutions and its credit business focuses on loans, and securities of non-investment grade companies spread across the capital structure including senior debt, subordinated debt, preferred stock and common equity. Blackstone Inc. through its subsidiary South City Projects (Kolkata) Limited offers residential and commercial real estate development services that include development of township, residential towers, malls, IT parks, stadiums, resorts, hospitals, and schools. Blackstone Inc. was founded in 1985 and is based in New York, New York with additional offices across Asia, Europe, North America and Central America.

How this company scores

ExcellentMetricSide Score: 85/100

Strongest: Profitability (25/25); weakest: Balance Sheet & Red Flags (12/25).

Profitability25/25

Growth23/25

Balance Sheet & Red Flags12/25

Cash & Earnings Quality25/25

Strengths

Growing revenueRising free cash flowStrong marginsHigh ROE

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 28.1x5y range 15.9x – 103.8x

Currently below its 20-quarter median.

P/S · 6.1x5y range 3.6x – 13.4x

Currently below its 20-quarter median.

P/B · 11.0x5y range 7.5x – 16.8x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

Some Concerns

Share Dilution

Watch

Shares outstanding rose 4.1% — mild dilution. Compare to earnings growth to assess the net per-share impact.

Price & Volume

Market Cap $98.75B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $16.11B
Q. Revenue: $5.04B
TTM EBITDA: $7.60B
TTM Op. Income: $7.60B
Q. Op. Income: $2.67B
TTM Net Income: $3.52B
Q. Net Income: $1.23B
EPS: $1.54
Shares Out.: $799.88M

$16.11B in TTM revenue grew 17.2% YoY, reaching $5.04B last quarter. TTM EBITDA of $7.60B and TTM operating income of $7.60B show growth is flowing through to the bottom line. TTM net income of $3.52B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 3 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: 52.9%
Op. Margin: 52.9%
Net Margin: 24.4%

Op. margin of 52.9% is up 5.0% YoY — cost efficiency is improving. Net margin at 24.4% Over the past year, operating margin is up 10% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 28.1x
P/S Ratio: 6.1x
P/B Ratio: 11.0x

At 28.1x P/E, the stock trades within typical market levels. P/S of 6.1x and P/B of 11.0x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 8 quarters, P/E has fallen for 3 consecutive quarters — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $49.89B
Cash: $2.51B
Long-Term Debt: $13.32B
Book Value: $9.01B
D/E Ratio: 1.5
Debt/EBITDA: 5.0

With $49.89B in assets and $13.32B in long-term debt, D/E is 1.5and book value is $9.01B — moderate leverage. Over the past year, debt/equity is up 2% — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $1.94B
TTM Free Cash Flow: $5.49B
FCF Margin: 34.1%
FCF / Net Income: 1.6

TTM FCF of $5.49B on $1.94B in operating cash flow. The FCF / Net Income ratio of 1.6x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 67% — an improving trend.