What is Blackstone Inc's earnings per share (EPS)?

Blackstone Inc (BX) reported diluted earnings per share of $3.87 for fiscal year 2025. This represents a 6.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Blackstone Inc Financials

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Blackstone Inc (BX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 77/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

Blackstone Inc's revenue grew 9.2% year-over-year to $14.5B, a solid pace of expansion. This earns a growth score of 49/100.

Leverage

Blackstone Inc carries a low D/E ratio of 1.45, meaning only $1.45 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 72/100, indicating a strong balance sheet with room for future borrowing.

Cash Flow

100

Blackstone Inc converts 31.5% of revenue into free cash flow ($4.5B). This strong cash generation earns a score of 100/100.

Returns

Blackstone Inc earns a strong 34.8% return on equity (ROE), meaning it generates $35 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 89/100. This is up from 33.8% the prior year.

Piotroski F-Score Neutral

4/9

Blackstone Inc passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed

1.54x

For every $1 of reported earnings, Blackstone Inc generates $1.54 in operating cash flow ($4.7B OCF vs $3.0B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

Export CSV

Earnings & Revenue

Revenue

$14.5B

YoY+9.2%

5Y CAGR+18.8%

10Y CAGR+12.0%

Blackstone Inc generated $14.5B in revenue in fiscal year 2025. This represents an increase of 9.2% from the prior year.

EBITDA

N/A

Net Income

$3.0B

YoY+8.7%

5Y CAGR+23.6%

10Y CAGR+15.6%

Blackstone Inc reported $3.0B in net income in fiscal year 2025. This represents an increase of 8.7% from the prior year.

EPS (Diluted)

$3.87

YoY+6.9%

5Y CAGR+20.9%

10Y CAGR+14.0%

Blackstone Inc earned $3.87 per diluted share (EPS) in fiscal year 2025. This represents an increase of 6.9% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$4.5B

YoY+33.0%

5Y CAGR+20.0%

10Y CAGR+6.9%

Blackstone Inc generated $4.5B in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 33.0% from the prior year.

Cash & Debt

$2.6B

YoY+33.4%

5Y CAGR+5.6%

10Y CAGR+3.7%

Blackstone Inc held $2.6B in cash against $12.6B in long-term debt as of fiscal year 2025.

Dividends Per Share

$4.69

YoY+35.9%

5Y CAGR+19.7%

10Y CAGR+4.9%

Blackstone Inc paid $4.69 per share in dividends in fiscal year 2025. This represents an increase of 35.9% from the prior year.

Shares Outstanding

749M

YoY+2.3%

5Y CAGR+1.8%

Blackstone Inc had 749M shares outstanding in fiscal year 2025. This represents an increase of 2.3% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

20.9%

YoY-0.1pp

5Y CAGR+3.8pp

10Y CAGR+5.6pp

Blackstone Inc's net profit margin was 20.9% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.1 percentage points from the prior year.

Return on Equity

34.8%

YoY+1.0pp

5Y CAGR+19.1pp

10Y CAGR+29.0pp

Blackstone Inc's ROE was 34.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 1.0 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$115.7M

YoY+88.4%

5Y CAGR+0.7%

10Y CAGR+6.9%

Blackstone Inc invested $115.7M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 88.4% from the prior year.

BX Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$14.5B+9.2%	$13.2B+64.9%	$8.0B-5.8%	$8.5B-62.3%	$22.6B+270.0%	$6.1B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$1.5B+11.9%	$1.4B+21.9%	$1.1B+2.3%	$1.1B+19.0%	$917.8M+29.0%	$711.8M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$508.3M+14.6%	$443.7M+2.7%	$431.9M+36.1%	$317.2M+60.0%	$198.3M+19.3%	$166.2M
Income Tax	$1.1B+10.1%	$1.0B+99.0%	$513.5M+8.6%	$472.9M-60.1%	$1.2B+232.7%	$356.0M
Net Income	$3.0B+8.7%	$2.8B+99.6%	$1.4B-20.4%	$1.7B-70.2%	$5.9B+460.3%	$1.0B
EPS (Diluted)	$3.87+6.9%	$3.62+96.7%	$1.84-22.0%	$2.36-71.0%	$8.13+442.0%	$1.50

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$4.4B+41.2%	$3.1B-16.8%	$3.7B+12.8%	$3.3B+6.7%	$3.1B-15.9%	$3.7B+31.0%	$2.8B-24.2%	$3.7B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$447.8M+16.7%	$383.6M+6.3%	$360.8M+8.6%	$332.4M-2.0%	$339.1M-0.5%	$340.9M+9.3%	$311.9M-15.7%	$369.9M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$128.1M+1.4%	$126.3M-7.0%	$135.8M+15.0%	$118.1M+2.2%	$115.5M+3.8%	$111.3M+2.5%	$108.6M+0.4%	$108.2M
Income Tax	$382.0M+82.2%	$209.7M-27.6%	$289.5M+18.7%	$243.8M+4.9%	$232.5M-5.2%	$245.3M-5.7%	$260.2M-8.3%	$283.7M
Net Income	$1.0B+62.5%	$624.9M-18.2%	$764.2M+24.3%	$614.9M-12.6%	$703.9M-9.9%	$780.8M+75.7%	$444.4M-47.6%	$847.4M
EPS (Diluted)	N/A	$0.80-18.4%	$0.98+22.5%	$0.80	N/A	$1.02+75.9%	$0.58-47.7%	$1.11

BX Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$47.7B+9.8%	$43.5B+7.9%	$40.3B-5.3%	$42.5B+3.2%	$41.2B+56.8%	$26.3B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$2.6B+33.4%	$2.0B-33.3%	$3.0B-30.5%	$4.3B+100.6%	$2.1B+6.0%	$2.0B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$291.8M+22.6%	$237.9M+23.0%	$193.4M-58.2%	$462.9M-27.3%	$636.6M-26.5%	$866.2M
Goodwill	$1.9B0.0%	$1.9B0.0%	$1.9B0.0%	$1.9B0.0%	$1.9B-0.6%	$1.9B
Total Liabilities	$39.0B+10.7%	$35.3B+5.3%	$33.5B-4.0%	$34.9B+9.7%	$31.8B+62.0%	$19.6B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$12.6B+9.7%	$11.5B-1.3%	$11.6B-7.1%	$12.5B+59.0%	$7.9B+37.0%	$5.7B
Total Equity	$8.7B+5.5%	$8.2B+20.5%	$6.8B-11.0%	$7.7B-18.8%	$9.4B+41.7%	$6.7B
Retained Earnings	$191.6M-76.3%	$808.1M+22.3%	$660.7M-62.2%	$1.7B-52.1%	$3.6B+986.4%	$335.8M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$47.7B+2.5%	$46.6B+2.6%	$45.4B+0.3%	$45.3B+4.1%	$43.5B+2.1%	$42.6B+4.9%	$40.6B+2.2%	$39.7B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$2.6B+8.3%	$2.4B+8.7%	$2.2B-6.3%	$2.4B+21.0%	$2.0B-16.2%	$2.4B-1.2%	$2.4B-4.9%	$2.5B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$291.8M-46.3%	$543.2M+51.8%	$357.9M+61.8%	$221.2M-7.0%	$237.9M-20.7%	$300.0M+21.2%	$247.5M+24.2%	$199.3M
Goodwill	$1.9B0.0%	$1.9B0.0%	$1.9B0.0%	$1.9B0.0%	$1.9B0.0%	$1.9B0.0%	$1.9B0.0%	$1.9B
Total Liabilities	$39.0B+2.3%	$38.2B+3.1%	$37.0B-0.7%	$37.3B+5.7%	$35.3B-0.9%	$35.6B+5.4%	$33.8B+3.1%	$32.8B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$12.6B+3.7%	$12.1B-0.1%	$12.1B-3.6%	$12.6B+9.8%	$11.5B+5.3%	$10.9B+0.6%	$10.8B-0.5%	$10.9B
Total Equity	$8.7B+3.3%	$8.4B+0.5%	$8.4B+4.7%	$8.0B-2.9%	$8.2B+17.2%	$7.0B+2.5%	$6.8B-1.7%	$7.0B
Retained Earnings	$191.6M+4.1%	$184.0M-49.2%	$362.6M+13.3%	$320.2M-60.4%	$808.1M+6.3%	$760.5M+25.2%	$607.6M-23.7%	$796.2M

BX Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$4.7B+33.9%	$3.5B-14.2%	$4.1B-36.0%	$6.3B+59.0%	$4.0B+105.9%	$1.9B
Capital Expenditures	$115.7M+88.4%	$61.4M-72.6%	$224.2M-4.8%	$235.5M+266.2%	$64.3M-42.4%	$111.7M
Free Cash Flow	$4.5B+33.0%	$3.4B-10.8%	$3.8B-37.2%	$6.1B+55.6%	$3.9B+115.0%	$1.8B
Investing Cash Flow	-$115.7M-88.4%	-$61.4M+73.3%	-$229.7M+2.5%	-$235.5M-266.2%	-$64.3M+61.4%	-$166.8M
Financing Cash Flow	-$3.9B+13.8%	-$4.5B+10.9%	-$5.1B-33.2%	-$3.8B-0.5%	-$3.8B-68.3%	-$2.2B
Dividends Paid	$6.0B+35.9%	$4.4B+3.6%	$4.3B-34.5%	$6.5B+41.6%	$4.6B+92.9%	$2.4B
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$1.1B-33.2%	$1.6B+79.8%	$888.5M-19.9%	$1.1B+587.2%	$161.4M-86.8%	$1.2B+5.5%	$1.2B+23.3%	$939.8M
Capital Expenditures	$22.4M-6.6%	$23.9M-40.4%	$40.1M+37.1%	$29.3M+146.3%	$11.9M-38.7%	$19.4M+56.6%	$12.4M-30.3%	$17.8M
Free Cash Flow	$1.0B-33.6%	$1.6B+85.5%	$848.4M-21.4%	$1.1B+622.3%	$149.5M-87.6%	$1.2B+4.9%	$1.1B+24.3%	$922.1M
Investing Cash Flow	-$22.4M+6.6%	-$23.9M+40.4%	-$40.1M-37.1%	-$29.3M-146.3%	-$11.9M+38.7%	-$19.4M-56.6%	-$12.4M+30.3%	-$17.8M
Financing Cash Flow	-$1.0B+20.8%	-$1.3B+24.8%	-$1.7B-1328.9%	$139.2M+128.4%	-$489.9M+61.7%	-$1.3B-5.1%	-$1.2B+19.8%	-$1.5B
Dividends Paid	$1.6B+19.1%	$1.3B+10.4%	$1.2B-34.6%	$1.9B+70.8%	$1.1B+1.6%	$1.1B-1.6%	$1.1B-7.5%	$1.2B
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

BX Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	20.9%-0.1pp	21.0%+3.7pp	17.3%-3.2pp	20.5%-5.4pp	25.9%+8.8pp	17.1%
Return on Equity	34.8%+1.0pp	33.8%+13.4pp	20.4%-2.4pp	22.8%-39.3pp	62.2%+46.5pp	15.7%
Return on Assets	6.3%-0.1pp	6.4%+2.9pp	3.5%-0.7pp	4.1%-10.1pp	14.2%+10.2pp	4.0%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.45+0.1	1.40-0.3	1.70+0.1	1.63+0.8	0.83-0.0	0.86
FCF Margin	31.5%+5.6pp	25.9%-21.9pp	47.8%-23.8pp	71.6%+54.3pp	17.4%-12.5pp	29.9%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	23.3%+3.0pp	20.2%-0.4pp	20.6%+1.9pp	18.7%-4.1pp	22.8%+1.5pp	21.3%+5.4pp	15.9%-7.1pp	23.0%
Return on Equity	11.7%+4.3pp	7.4%-1.7pp	9.2%+1.4pp	7.7%-0.9pp	8.6%-2.6pp	11.1%+4.6pp	6.5%-5.7pp	12.2%
Return on Assets	2.1%+0.8pp	1.3%-0.3pp	1.7%+0.3pp	1.4%-0.3pp	1.6%-0.2pp	1.8%+0.7pp	1.1%-1.0pp	2.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.450.0	1.440.0	1.45-0.1	1.58+0.2	1.40-0.2	1.55-0.0	1.58+0.0	1.56
FCF Margin	24.0%-27.0pp	50.9%+28.1pp	22.9%-10.0pp	32.8%+28.0pp	4.9%-28.0pp	32.8%-8.2pp	41.0%+16.0pp	25.0%

Similar Companies

Blackrock BLK

$150.3B

Kkr & Co Inc KKR

$81.3B

Brookfield Corporation BN

$91.5B

Brookfield Asst BAM

$72.8B

Apollo Global Mgmt Inc APO

$61.9B

Frequently Asked Questions

What is Blackstone Inc's annual revenue?

Blackstone Inc (BX) reported $14.5B in total revenue for fiscal year 2025. This represents a 9.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Blackstone Inc's revenue growing?

Blackstone Inc (BX) revenue grew by 9.2% year-over-year, from $13.2B to $14.5B in fiscal year 2025.

Is Blackstone Inc profitable?

Yes, Blackstone Inc (BX) reported a net income of $3.0B in fiscal year 2025, with a net profit margin of 20.9%.

How much debt does Blackstone Inc have?

As of fiscal year 2025, Blackstone Inc (BX) had $2.6B in cash and equivalents against $12.6B in long-term debt.

What is Blackstone Inc's net profit margin?

Blackstone Inc (BX) had a net profit margin of 20.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Blackstone Inc pay dividends?

Yes, Blackstone Inc (BX) paid $4.69 per share in dividends during fiscal year 2025.

What is Blackstone Inc's return on equity (ROE)?

Blackstone Inc (BX) has a return on equity of 34.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Blackstone Inc's free cash flow?

Blackstone Inc (BX) generated $4.5B in free cash flow during fiscal year 2025. This represents a 33.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Blackstone Inc's operating cash flow?

Blackstone Inc (BX) generated $4.7B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Blackstone Inc's total assets?

Blackstone Inc (BX) had $47.7B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Blackstone Inc's capital expenditures?

Blackstone Inc (BX) invested $115.7M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Blackstone Inc have outstanding?

Blackstone Inc (BX) had 749M shares outstanding as of fiscal year 2025.

What is Blackstone Inc's debt-to-equity ratio?

Blackstone Inc (BX) had a debt-to-equity ratio of 1.45 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Blackstone Inc's return on assets (ROA)?

Blackstone Inc (BX) had a return on assets of 6.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Blackstone Inc's Piotroski F-Score?

Blackstone Inc (BX) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Blackstone Inc's earnings high quality?

Blackstone Inc (BX) has an earnings quality ratio of 1.54x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Blackstone Inc?

Blackstone Inc (BX) scores 77 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.