BXNYSEInvestment AdviceFiscal year ends December 31
Blackstone Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 7, 2026
$107.09+0.48 (+0.45%)
Close on Oct 19, 2026
- Market cap
- $85.66B
- P/E (TTM)
- 24.0
- Dividend yield
- 4.38%
Margins
Share of revenue, fiscal years 2011 to 2025
Net margin
20.9%+3.8 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +9.2% | +19.3% | +18.8% | +12.0% | |
| Net income | +8.7% | +20.0% | +23.6% | +15.6% | |
| EPS, diluted | +6.9% | +17.9% | +20.9% | +14.0% | |
| Free cash flow | +33.0% | -9.3% | +20.0% | +6.9% | |
| Dividend per share | +35.9% | -1.7% | +19.7% | +4.9% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 15.3% | 35.8% | |
| Return on assets | 4.2% | 3.6% | 6.6% | |
| Capex to revenue | 0.4% | 1.8% | 0.8% | |
| Diluted shares | 1.20B | 697M | 780M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Blackstone generated $22.52B from operations and spent $26.53B on capital expenditure, dividends and share buybacks. 3% of that went back into the business.
Generated
$22.52B
Used
$26.53B
Capital expenditure$701.16M3%Dividends$25.83B97%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin20.9%
×Asset turnover0.32×
×Equity multiplier5.40×
=Return on equity, FY202535.8%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 20.9% | 0.32× | 5.40× | 35.8% |
| FY2024 | 21.0% | 0.32× | 5.57× | 36.9% |
| FY2023 | 17.3% | 0.19× | 5.72× | 19.2% |
| FY2022 | 20.5% | 0.20× | 4.90× | 20.5% |
| FY2021 | 25.9% | 0.67× | 4.20× | 72.9% |
| FY2020 | 17.1% | 0.21× | 4.31× | 15.3% |
| FY2019 | 27.9% | 0.24× | 4.59× | 30.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 6 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$3.02B
- Cash generatingOperating cash flow above zero$4.66B
- Return on assets improvedROA up on the prior year6.9% → 6.9%
- Earnings backed by cashOperating cash flow above net income$4.66B vs $3.02B
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise767M → 780M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.33 → 0.33