Blackstone Inc. (BX)

NYSE: BX · USD

$117

+0.35 (+0.3%)· Recorded snapshot

Dự phòng tiếng AnhVI

Hiển thị bản gốc tiếng Anh trong khi đang dịch

Báo cáo này chưa được dịch. Hãy làm mới sau vài phút khi hàng đợi dịch xử lý xong.

StockMarketAgent Research · Analyzed 2026-09-25

Our latest published analysis: BX rated Reduce

Blackstone Inc.'s published Reduce conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$99.7 / share

Potential value

$140 / share

Upside to FV

-15.0%

from $117

Moat

8.5/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$142.6B
Revenue (ttm)	15.5B
Net income (ttm)	3.6B
EPS (ttm)	$4.49
Shares out	1.2B
P/E (trailing)	26.1x
P/E (forward)	16.5x
Dividend	$4.74 (4.05%)
Volume	4,791,067
Beta	1.59

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 15.5B
Net income (ttm): 3.6B
EPS (ttm): $4.49
P/E (trailing): 26.1x
P/E (forward): 16.5x
Market cap: $142.6B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$22.58B	$8.52B	$8.02B	$13.23B	$14.45B	-10.6%
Gross profit	$16.65B	$7.13B	$7.01B	$10.93B	$11.90B	-8.1%
Operating income	$13.56B	$3.46B	$2.96B	$6.46B	$7.18B	-14.7%
Net income	$5.86B	$1.75B	$1.39B	$2.78B	$3.02B	-15.3%
EPS (diluted)	$8.13	$2.36	$1.84	$3.62	$3.87	-16.9%
EBITDA	$13.63B	$3.53B	$3.00B	$6.50B	$7.21B	-14.7%
R&D	$1	$0	$0	—	—	-48.2%
SG&A	$928.2M	$1.12B	$1.24B	$1.38B	$1.55B	+13.6%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
ACGL	Arch Capital Group Ltd.	34.8B	8.3x	1.8x	15.9%	+15.1%	+18.7%	Mua mạnh
AIG	American International Group Inc.	41.7B	14.7x	1.6x	7.7%	-9.6%	+2.8%	Mua mạnh
AIZ	Assurant, Inc.	14.1B	13.6x	1.0x	14.4%	+6.6%	+36.2%	Giữ
AJG	Arthur J. Gallagher & Co.	66.7B	43.2x	4.4x	6.6%	+15.3%	-5.7%	Mua
ALL	The Allstate Corporation	63.2B	5.0x	0.9x	32.6%	+8.5%	+31.8%	Mua mạnh
AMP	Ameriprise Financial, Inc.	43.1B	11.8x	2.2x	43.0%	+8.9%	+1.1%	Mua

Base and Bull scenarios

Base50%

Price target

$99.65

-15.0% from spot

The modal base scenario projects steady execution of Blackstone's locked-up AUM model. Base management fee growth expands at a mid-single-digit rate in Q3 2026 before accelerating to double digits in FY2027. Operating margins hold near 49%, sustained by high operating leverage and premium alternative fee structures. Cash flow conversion remains exceptional, supporting the 100% cash distribution framework and yielding a fair value midpoint of $99.65.

Revenue growth of 21.11% in FY2026 anchored to consensus $15,029.77M
Revenue growth of 23.90% in FY2027 anchored to consensus $18,622.13M
Consolidated operating margin normalizes at 48.0% in FY2026 and 49.0% by FY2028
Terminal forward multiple of 16.0x forward earnings
Moderate Ke of 10.1649% and WACC of 10.7881%

Bull25%

Price target

$139.84

+19.3% from spot

In the upside scenario, rapid monetization of Blackstone's $1 trillion data center digital infrastructure pipeline drives platform capacity to double. Power, chip, and entitlement bottlenecks preserve premium lease pricing and returns. Concurrently, reopening IPO and M&A liquidity unleashes a carried interest realization supercycle, expanding performance fees well beyond FY2025 levels ($978.20M) and driving fair value toward the high band boundary of $139.84.

Revenue growth accelerates double digits in FY2027 and FY2028
Data center platform capacity doubles over the next few years
Operating margin expands significantly on carried interest realization surge
Terminal forward P/E multiple expands above historical peer levels

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($99.65). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	2.0%	2.3%	2.5%	2.8%	3.0%
9.2%	$106	$108	$110	$112	$115
9.7%	$101	$103	$105	$106	$108
10.2%	$96.8	$98.2	$99.7	$101	$103
10.7%	$92.8	$94.0	$95.2	$96.6	$98.1
11.2%	$89.1	$90.2	$91.3	$92.5	$93.7

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E16.5

P25 8.7P50 10.4P75 12.8

Trailing P/E27.8

P25 10.7P50 13.5P75 31.8

ROE32.4

P25 4.9P50 11P75 15.4

ROIC17.6

P25 -0.7P50 6.7P75 12.6

Benchmarks · 1M

All BX indicators

Market & fundamental data

Available fields

263

Groups with data

Currency

USD

Showing 263 of 263 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0001393818
Company name	Blackstone Inc.
Country	United States
Country code	US
CUSIP number	09260D107
Earnings date	2026-10-22
Earnings time	bmo
Employees	5,285
Employees change	390
Employees growth	7.97%
Enterprise value	$156.7B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-09-30
First seen	2026-05-09
Fiscal year end	December
Founded	1985
In index	SP500
Industry	Asset Management
IPO date	2007-06-22
Is primary listing	Yes
Is SPAC	No
ISIN number	US09260D1072
Last 10-K release date	2026-02-27
Last earnings date	2026-10-22
Last refreshed	2026-10-28
Last stock split type	Never
Market cap	$145.5B
Market cap category	Large-Cap
Next earnings date	2027-01-28
Options	Yes
Price	$117.06
Price currency	USD
Sector	Financials
SIC code	6282
Stock price date	2026-10-28
Symbol	BX
U.S. state	New York
Website	https://www.blackstone.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	19.67x
Average P/E ratio (10Y)	32.32x
Average P/E ratio (3Y)	43.17x
Average P/E ratio (5Y)	41.51x
Earnings yield	3.83%
EV/Earnings	43.99x
EV/FCF	28.52x
EV/Sales	10.11x
FCF / EV yield	3.51%
FCF yield	3.78%
Forward EV/Sales	9.06x
Forward P/E	17.71x
Forward P/S	8.41x
Graham number	33.39727
Graham upside	-71.42%
Industry forward P/E	12.81x
Industry P/E	27.36x
Lynch fair value	$22.43
Lynch upside	-80.81%
P/(FCF - SBC) ratio	97.85x
P/(OCF - SBC) ratio	91.01x
P/B ratio	10.56x
P/E ratio	26.1x
P/FCF ratio	26.48x
P/OCF ratio	25.95x
P/S ratio	9.39x
PEG ratio	1.36x
Price / tangible book value	21.23x
Sector forward P/E	13.61x
Sector P/E	15.65x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
Effective tax rate	15.83%
FCF margin	35.43%
Gross margin	100%
Operating margin	49.28%
Pretax margin	52.7%
Profit margin	22.99%
Profit per employee	$672,941
Profitable quarters	16
Profitable years	14
Revenue per employee	$2.9M
ROA	14.27%
ROA (5Y)	15.2%
ROE	32.38%
ROE (5Y)	30.75%
ROIC	17.59%
ROIC (5Y)	19.27%
SBC / revenue	25.84%
Tax / revenue	8.34%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	28.92%
EPS growth (Q)	3.72%
EPS growth (QoQ)	-46.1%
EPS growth 10Y	14.09%
EPS growth 3Y	23.35%
EPS growth 5Y	-9.08%
EPS growth quarters	3
EPS growth years	2
FCF growth	67.25%
FCF growth 3Y	16.03%
FCF growth 5Y	9.28%
Net income growth	31.34%
Net income growth (Q)	5.99%
Net income growth (QoQ)	-46.11%
Net income growth 3Y	25.55%
Net income growth 5Y	-7.34%
Net income growth quarters	3
Net income growth years	2
OCF growth	65.57%
OCF growth 10Y	18.29%
OCF growth 3Y	14.02%
OCF growth 5Y	8.98%
Operating income growth	22.77%
Operating income growth (Q)	8.91%
Operating income growth 3Y	28.93%
Operating income growth 5Y	-8.44%
Revenue growth	20.93%
Revenue growth (Q)	-0.53%
Revenue growth (QoQ)	-40.29%
Revenue growth 10Y	13.65%
Revenue growth 3Y	23.34%
Revenue growth 5Y	-5.24%
Revenue growth quarters	3
Revenue growth years	2

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-111.7M
EPS	$4.49
FCF per share	$4.41
Financing cash flow	$-5.2B
Free cash flow	$5.5B
Free cash flow minus SBC	$1.5B
Gross profit	$15.5B
Income taxes	$1.3B
Investing cash flow	$-111.7M
Net borrowing	$1.5B
Net cash flow	$223.9M
Net income	$3.6B
Operating cash flow minus SBC	$1.6B
Operating income	$7.6B
Revenue	$15.5B
Stock-based compensation	$4B

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Book value per share	$11.05
Debt / equity	0.68
Debt / FCF	2.59
Goodwill	$1.9B
Net cash (debt)	$-11.2B
Net cash / market cap	-7.68%
Net debt / equity	0.53
Net debt / FCF	2.03
Piotroski F-Score	5
Property, plant and equipment	$723.1M
Shareholders' equity	$21B
Tangible book value	$6.8B
Tangible book value per share	$8.56
Total assets	$49.6B
Total cash	$3B
Total debt	$14.2B
Total liabilities	$28.6B
WACC	11.82%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.32
Current ratio	0.97
Quick ratio	0.95
Working capital	$-307.5M
Working capital turnover	-114.03

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	-2.03%
Dividend growth	7.89%
Dividend growth (10Y)	11.79%
Dividend growth (3Y)	15.08%
Dividend growth (5Y)	7.23%
Dividend growth years	2
Dividend payment date	2026-11-09
Dividend payment years	20
Dividend payout frequency	Quarterly
Dividend per share	$4.74
Dividend yield	4.05%
Ex-dividend date	2026-11-02
FCF payout ratio	114.68%
Last dividend	$1.12
Payout ratio	112.81%
Shareholder yield	2.02%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	361.96%
10Y return CAGR	21.83%
10Y total return	620.05%
150-day SMA	$123.46
15Y price change	675.23%
15Y return CAGR	20.45%
15Y total return	1,530.46%
1D price change	0.3%
1M price change	-1.15%
1M total return	-1.15%
1W price change	6.09%
1W total return	6.09%
1Y price change	-23.91%
1Y return CAGR	-20.84%
1Y total return	-20.83%
20-day SMA	$112.56
200-day SMA	$124.52
3M price change	-11.72%
3M total return	-10.82%
3Y price change	30.63%
3Y return CAGR	12.52%
3Y total return	42.45%
50-day SMA	$123.59
50-day SMA vs 200-day SMA	50under200
52-week high	$165.14
52-week high date	2026-01-16
52-week low	$101.73
52-week low date	2026-03-12
5Y price change	-14.24%
5Y return CAGR	0.42%
5Y total return	2.14%
6M price change	-2.75%
6M total return	-0.85%
All-time high	$200.96
All-time high date	2024-11-25
All-time low	$3.55
All-time low date	2009-02-27
Average true range (ATR)	$3.97
Average volume	5.8M
Beta (1Y)	1.12
Beta (2Y)	1.27
Beta (5Y)	1.59
Change from 52-week high	-29.12%
Change from 52-week low	15.06%
Change from all-time high	-41.75%
Change from all-time low	3,197.46%
Change from open	0.12%
Day's gap	0.19%
Dollar volume	$560.8M
High price	$118.25
Low price	$116.35
Monthly RSI	44.71
Open price	$116.92
Position in 52-week range	37.11%
Premarket change	-0.35%
Premarket close	$116.70
Premarket price	$116.29
Premarket volume	1.3K
Previous close	$116.70
Price vs 150-day SMA	-5.18%
Price vs 20-day SMA	4%
Price vs 200-day SMA	-5.99%
Price vs 50-day SMA	-5.28%
Relative volume	0.83
RSI	51.59
Sharpe ratio	-0.55
Sharpe ratio (3Y)	0.37
Sharpe ratio (5Y)	0.14
Sortino ratio	-0.61
Sortino ratio (3Y)	0.71
Sortino ratio (5Y)	0.34
Volume	4.8M
Weekly RSI	44.27
YTD price change	-24.06%
YTD total return	-21.67%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	754.9M
Float percentage	60.71%
Shares change (QoQ)	0.01%
Shares change (YoY)	2.03%
Shares held by insiders	0.55%
Shares held by institutions	68.11%
Shares outstanding	1.2B
Short % of float	2.99%
Short % of shares	1.82%
Short ratio	5.4 days

Other indicators

Additional ticker metrics that do not fit the primary research groupings.

Metric	Value
Page views	135

Deeper analysis on BX

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Scorecard

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this BX report

What is the latest published BX stock rating?

Blackstone Inc. is shown with Reduce in the latest published report, analyzed 2026-09-25. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full BX analysis?

The full latest published report, analyzed 2026-09-25, lives at /stocks/BX/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for BX?

The latest published report analyzed 2026-09-25 gives BX a fair value of USD 100 and a potential value of USD 140. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the BX page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-09-25). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

ReduceBX · Fair value $99.7-15.0%

Read full analysis →

Blackstone Inc. (BX)

Our latest published analysis: BX rated Reduce

Price

Financial snapshot

Fair-value bridge

Latest news · BX

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All BX indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Other indicators

Deeper analysis on BX

Frequently asked questions

Lịch sử xếp hạng

Category	Score	Reading
Valuation	3.0
Management	8.5
Balance Sheet	4.0
Profitability	7.5
Revenue Growth	7.5
Risk Assessment	4.0
Competitive Moat	8.5
Earnings Quality	9.0
Capital Efficiency	6.0