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NYSE · INVESTMENT ADVICE · LARGE CAP

Blackstone Inc. BX

18 fiscal years on record · USD · FY2025 reported · SEC filings only
$14.5B
▲ 9.2% YoY
$3.0B
▲ 8.7% YoY
$4.5B
▲ 33.0% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Blackstone invests across asset classes on behalf of its investors, including pension funds, insurance companies and individual investors. Its more than $1.3 trillion in Total Assets Under Management as of December 31, 2025 include global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries and hedge funds. As of December 31, 2025, it employed approximately 5,285 people, including 268 senior managing directors, at its headquarters in New York and around the world. Its four business segments are Real Estate, Private Equity, Credit & Insurance and Multi-Asset Investing. Its Real Estate business, with $319.3 billion of Total Assets Under Management as of December 31, 2025, operates as one globally integrated business with approximately 785 employees and investments across the Americas, Europe and Asia. Its Private Equity segment encompasses global businesses with a total of approximately 720 employees managing $416.4 billion of Total Assets Under Management as of December 31, 2025. Its Credit & Insurance segment has approximately 815 employees and manages $443.0 billion of Total Assets Under Management as of December 31, 2025. Its Multi-Asset Investing segment has approximately 240 employees managing $96.2 billion of Total Assets Under Management as of December 31, 2025.

Written from the business description in Blackstone Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 27 February 2026. Every sentence was checked against that document before publication.

Growth

USD 14.5B
Revenue, FY2025 · full 18-year series below
Revenue $B Net income $B
FY2025 · Revenue 14.5 · Net income 3.0
10B20B-2B-4B
2008201120142017202020232025
Compound annual growth
+19.3%
+18.8%
+12.0%
+10.8%
+20.0%
+23.6%
+15.6%
+17.9%
+20.9%
−1.7%
+19.7%
−2.7%
+20.3%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +18.8% a year over the five years to FY2025 — but profit grew faster: net income at +23.6%, earnings per share at +20.9%.

The share count rose from 0.68B to 0.75B over the period.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

42 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 49.6% · Net 41.8%
20%40%60%-50%-100%
200820162025
ROE
FY2025 · ROE 35.8%
20%40%60%
200820162025
Three returns, three denominators.
Return on capital employedNot available: we don't have total assets or current liabilities for this period.

Each USD of equity produced 36 cents of profit this year.

Cash & shareholders

USD 6.0B
returned in FY2025 · dividends + net buybacks
Free cash flow $B
FY2025 · FCF 4.5
2.5B5.0B-1.0B-2.0B
200820162025
Net buybacks $B Dividends $B
FY2025 · Dividends 6.0 · Net buybacks ·
2.5B5.0B
201720182019202020212022202320242025

USD 6.0B in dividends — 199% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 47.7B
EquityUSD 8.7B
CashUSD 2.6B
Gross debtUSD 12.6B
Net debtUSD 9.9B

Net debt stands at 115% of equity.

The 18-year record

18 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data
BX, 18-year financial record
Metric 202520242023202220212020201920182017201620152014201320122011201020092008
Revenue $B14.513.28.08.522.66.17.36.87.15.14.67.56.64.03.33.11.8−0.3
Operating income $B7.26.53.03.513.62.63.83.54.12.41.84.03.11.00.1−0.5◌◌
EBITDA $B7.36.63.13.513.62.73.83.54.12.41.84.03.21.00.1−0.5◌◌
Income tax $B1.11.00.50.51.20.4−0.00.20.70.10.20.30.30.20.30.10.1−0.0
Net income $B3.02.81.41.75.91.02.01.51.51.00.71.61.20.2−0.2−0.4−2.4−5.6
Free cash flow $B4.53.43.86.13.91.81.90.0−1.7−0.12.31.63.50.51.1−0.40.41.8
EPS, diluted $3.873.621.842.368.131.503.032.262.211.561.042.581.980.41−0.35−1.02◌◌
Dividend / sh $4.693.453.324.943.571.911.922.422.321.662.901.921.180.520.620.60◌◌
Payout %19915930737379228117198193—————————
ROE %35.836.919.220.572.915.330.624.2◌◌◌◌◌◌◌◌◌◌
Shares out B0.750.730.720.710.700.68◌◌◌◌◌◌◌◌◌◌◌◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

More in this sector

Other companies filing in the same sector

Provenance

Company facts, as filed

How we verify · 0 failures in 51 reconciliationsAUDITED

Reconciled in 18 of the 18 fiscal years we could check. Three checks were skipped: EPS is not tagged before 2010. Two checks were skipped: the balance sheet is not tagged before 2009.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityInvestment Advice
Listed onNYSE
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2008

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