BlackstoneBXRevenue: is the business selling more than it used to?
$14.5B+9% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Revenue reached $14.5B in 2025, compounding +19% a year since 2022 and the pace is picking up. The trailing twelve months are already running at $16.1B, ahead of the last full year.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackstoneBXNet income: how much of that revenue becomes profit?
$3.0B+9% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Net income was $3.0B in 2025, compounding +20% a year over three years. Trailing twelve-month profit stands at $3.5B.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackstoneBXHow fast is it growing, year by year?
+9.2%revenue growth, FY 2025
Off the axis: 2013 earnings +435.8% · 2021 earnings +460.3% - rebounds off a collapsed prior year.
→Revenue grew +9% in 2025 against a five-year average of +55%. Earnings grew more slowly (+9%), so costs are absorbing part of the growth. 2013's +436% earnings rebound off a collapsed base and 2021's +460% earnings rebound off a collapsed base sits off the axis.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackstoneBXRevenue per share: is your slice growing as fast as the company?
$18.52revenue per share, FY 2025
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→Revenue per share reached $18.52 in 2025, compounding +17% a year against +19% for BX as a whole. Dilution absorbed about 2.0 points of that growth. Free cash flow per share stands at $5.83.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackstoneBXFree cash flow: what is left in real cash after everything?
$4.5B+33% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Free cash flow was $4.5B in 2025, compounding -9% a year since 2022. The trailing twelve months stand at $5.5B.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackstoneBXHow much of every sales dollar ends up as free cash?
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→31 cents of every sales dollar became free cash in 2025, down 40 points since 2022.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackstoneBXWhat does staying competitive cost, per dollar of sales?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→The biggest claim on each sales dollar is stock compensation, at 10% of revenue (capital spending 1%).
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackstoneBXMargins: of every $1 of sales, how much survives each cost layer?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→Net margin stands at 21% in 2025. BX doesn't break out gross or operating margin in its filings, so net is the only layer the data supports.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackstoneBXWhat does it earn on the money it uses?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→BX earns 39% on shareholders' capital. Return on capital employed isn't meaningful for this business model, so ROE carries the picture alone.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackstoneBXWhat has the market paid for BX over time?
30.2xP/E today
◌ 2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages
→At 30.2x earnings, the market is paying about what it has typically paid BX's own 11-year median of 29.4x. Neither a bargain nor a stretch by its own standard.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackstoneBXWhat cash return does the business throw off per dollar of market value?
5.4%FCF yield today
◌ 2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages
→Every dollar of market value currently buys 5.4% of annual free cash flow, right at BX's 11-year median of 5.8%.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackstoneBXCould it handle its debt if things went wrong?
→Debt of $13.3B sits against $2.5B of cash, or 1.5x shareholders' equity.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackstoneBXIs the company's own capital growing?
→The company's own capital grew from $6.8B in 2023 to $9.0B (+32%). The business is building book value rather than consuming it.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackstoneBXHow fast is your ownership being diluted - or concentrated?
→The share count grew 1.8% in 2025, averaging 1.7% a year over three years. Your slice of the company shrinks by that much each year unless earnings grow faster.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackstoneBXIs the dividend cheque growing?
→The dividend per share reached $7.71 in 2025, compounding +18% a year since 2020.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackstoneBXCan it afford the dividend?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→The dividend consumed 199% of profit and 132% of free cash flow in 2025. That is a thin cushion: a bad year would put the payment under real pressure.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackstoneBXBX has issued or retired shares - did shareholders end up better off?
→BX issued +64% more shares from 2011 to 2025, but revenue per share still rose +171%. The dilution bought more growth than it cost existing holders.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
BlackstoneBXAre the people running it buying or selling?
→Insiders bought $359M and sold $4.5B on the open market, a net sale of $4.1B. A further 15 filings were grants, option exercises or tax withholding, which say nothing either way.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30