Business Description
Blackstone Inc. operates as a prominent alternative asset manager, specializing in a broad spectrum of investment strategies. Its expertise encompasses real estate, private equity, credit solutions, comprehensive hedge fund offerings, public debt and equity, multi-asset class approaches, and secondary funds of funds. While often backing nascent businesses, the firm also extends its services to capital markets. Its real estate division targets diverse opportunities: high-potential opportunistic ventures, core-plus assets, and stable, income-generating commercial properties. Additionally, it engages in debt investments secured by commercial real estate. These activities span North America, Europe, and Asia. Blackstone's global private equity arm executes varied transactions, including substantial buyouts, mid-market acquisitions, special situations, and distressed mortgage loans. They also manage "buy and build" platforms, which involve consolidating multiple acquisitions under a single management team, alongside growth equity and development projects, often taking significant majority stakes or minority positions in operating companies. The scope of its investments covers sectors like shipping, real estate, corporate and consumer debt, and greenfield alternative energy projects in energy, power, and property development. The firm actively seeks opportunities in dislocated markets, shipping, financial institution breakups, reinsurance, and initiatives aimed at improving freight mobility. Key industry focuses further include financial services, healthcare, life sciences, enterprise technology, and consumer goods, including consumer tech. Beyond these, it actively explores investment prospects across Asia and Latin America, typically maintaining a three-year investment period for its ventures. The hedge fund business provides a broad range of commingled and customized fund solutions. Concurrently, its credit division concentrates on loans and securities issued by non-investment grade entities. These span the entire capital structure, encompassing senior debt, subordinated debt, preferred stock, and common equity. Established in 1985, Blackstone Inc. is headquartered in New York City, with a significant global presence through additional offices throughout Asia, Europe, and North America.
Business History
Price History (1 Year)
Revenue & Net Income Trend
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
EPS (Diluted): 3.88
Total Equity: $8.67B
Shares: 780,924,000
Total Debt: $13.31B
Cash: $2.63B
EBITDA: $7.21B
Total Debt: $13.31B
Cash: $2.63B
Revenue: $13.83B
Revenue: $13.83B
Revenue: $13.83B
Total Equity: $8.67B
Tax Rate: 15.7%
Equity: $8.67B
Total Debt: $13.31B
Cash: $2.63B
Current Liabilities: $3.22B
Long-Term Debt: $13.31B
Total Debt: $13.31B
Total Equity: $8.67B
Shares: 780,924,000
Shares: 780,924,000
CapEx: -$115.70M
Shares: 780,924,000
Stock Price: $115.35
Net Income: $3.02B
Industry Benchmarks
Deep Analysis
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Income Statement (Annual)
Last updated: Jun 27, 2026 12:31am (8h ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $16.9B | $7.4B | $7.4B | $11.4B | $13.8B |
| Cost of Revenue | $198.3M | $317.2M | $431.9M | $443.7M | $1.9B |
| Gross Profit | $16.7B | $7.1B | $7.0B | $10.9B | $11.9B |
| Operating Expenses | $3.1B | $3.7B | $4.0B | $4.5B | $4.7B |
| Operating Income | $13.6B | $3.5B | $3.0B | $6.5B | $7.2B |
| Net Income | $5.9B | $1.7B | $1.4B | $2.8B | $3.0B |
| EBITDA | $13.6B | $3.5B | $3.0B | $6.5B | $7.2B |
| EPS | $8.14 | $2.36 | $1.84 | $3.62 | $3.88 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 27, 2026 12:31am (8h ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $2.1B | $4.3B | $3.0B | $2.0B | $2.6B |
| Total Current Assets | $2.2B | $4.4B | $3.2B | $2.2B | $2.9B |
| Total Assets | $41.2B | $42.5B | $40.3B | $43.5B | $47.7B |
| Current Liabilities | $1.9B | $2.1B | $2.4B | $2.8B | $3.2B |
| Long-Term Debt | $8.7B | $13.4B | $12.3B | $12.3B | $13.3B |
| Total Liabilities | $19.5B | $22.8B | $22.2B | $24.0B | $25.8B |
| Total Equity | $9.4B | $7.7B | $6.8B | $8.2B | $8.7B |
| Retained Earnings | $3.6B | $1.7B | $660.7M | $808.1M | $191.6M |
Cash Flow (Annual)
Last updated: Jun 27, 2026 12:31am (8h ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $4.0B | $6.3B | $4.1B | $3.5B | $1.9B |
| Capital Expenditure | -$64.3M | -$235.5M | -$224.2M | -$61.4M | -$115.7M |
| Free Cash Flow | $3.9B | $6.1B | $3.8B | $3.4B | $1.7B |
| Acquisitions (net) | $7.5B | $5.2B | -$5.4M | $0 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$1.3B | -$466.0M | -$418.0M | -$661.1M | -$312.5M |
| Net Change in Cash | $135.3M | $2.3B | -$1.2B | -$1.1B | $678.5M |
Analyst Estimates (Annual)
Last updated: Jun 27, 2026 12:31am (8h ago)| Metric | 2026 | 2027 | 2028 | 2029 |
|---|---|---|---|---|
| Revenue |
$14.9B $14.2B – $16.0B
|
$18.6B $17.3B – $20.6B
|
$20.2B $19.6B – $20.8B
|
$14.1B $13.3B – $15.0B
|
| EBITDA |
$8.3B $7.9B – $8.9B
|
$10.4B $9.6B – $11.5B
|
$11.2B $10.9B – $11.5B
|
$7.8B $7.4B – $8.3B
|
| Net Income |
$4.6B $4.4B – $4.8B
|
$5.9B $5.4B – $6.3B
|
$6.4B $5.7B – $7.2B
|
$7.5B $6.9B – $8.1B
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 27, 2026 12:31am (8h ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | -55.8% | -0.2% | +52.9% | +21.6% |
| Gross Profit Growth | -57.2% | -1.8% | +56.0% | +8.9% |
| Operating Income Growth | -74.5% | -14.6% | +118.4% | +11.1% |
| Net Income Growth | -70.2% | -20.4% | +99.6% | +8.7% |
| EBITDA Growth | -74.1% | -15.0% | +116.7% | +11.1% |
Dividend History (Last 20)
Last updated: Jun 27, 2026 12:31am (8h ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-05-04 | $1.16 | 2026-04-21 | 2026-05-04 | 2026-05-11 |
| 2026-02-09 | $1.49 | 2026-01-29 | 2026-02-09 | 2026-02-17 |
| 2025-11-03 | $1.29 | 2025-10-23 | 2025-11-03 | 2025-11-10 |
| 2025-08-04 | $1.03 | 2025-07-24 | 2025-08-04 | 2025-08-11 |
| 2025-04-28 | $0.37 | 2025-04-15 | 2025-04-28 | 2025-05-05 |
| 2025-02-10 | $1.44 | 2025-01-28 | 2025-02-10 | 2025-02-18 |
| 2024-10-28 | $0.86 | 2024-10-17 | 2024-10-28 | 2024-11-04 |
| 2024-07-29 | $0.82 | 2024-07-18 | 2024-07-29 | 2024-08-05 |
| 2024-04-26 | $0.83 | 2024-04-18 | 2024-04-29 | 2024-05-06 |
| 2024-02-02 | $0.94 | 2024-01-25 | 2024-02-05 | 2024-02-12 |
| 2023-10-27 | $0.80 | 2023-10-19 | 2023-10-30 | 2023-11-06 |
| 2023-07-28 | $0.79 | 2023-07-20 | 2023-07-31 | 2023-08-07 |
| 2023-04-28 | $0.82 | 2023-04-20 | 2023-05-01 | 2023-05-08 |
| 2023-02-03 | $0.91 | 2023-01-26 | 2023-02-06 | 2023-02-13 |
| 2022-10-28 | $0.90 | 2022-10-20 | 2022-10-31 | 2022-11-07 |
| 2022-07-29 | $1.27 | 2022-07-21 | 2022-08-01 | 2022-08-08 |
| 2022-04-29 | $1.32 | 2022-04-21 | 2022-05-02 | 2022-05-09 |
| 2022-02-04 | $1.45 | 2022-01-27 | 2022-02-07 | 2022-02-14 |
| 2021-10-29 | $1.09 | 2021-10-21 | 2021-11-01 | 2021-11-08 |
| 2021-07-30 | $0.70 | 2021-07-23 | 2021-08-02 | 2021-08-09 |
Narrative Economics
market-narrative step).