Blackstone (BX) stock
Financials · Asset Management & Custody Banks
Blackstone (BX) is an Asset Management & Custody Banks company in the Financials sector, headquartered in New York City, New York. As of October 23, 2026, BX closed at $117.97, a market capitalization of $141.01 billion, the 85th largest company in the S&P 500. Over the last twelve months it generated $15.47 billion in revenue (-0% year over year) and $5.49 billion in free cash flow. The stock trades at 26.3x trailing earnings and 16.0x forward earnings.
- 1-year total return: -20.8% (dividends reinvested)
- 5-year return: +0.4% a year
- 52-week range: $101.73 – $165.14
- Gross margin 100.0%, operating margin 48.9%
- Dividend yield: 4.43%, 2 straight years of increases
- FI Handbook report card: B- across 9 metrics
- 13th largest of 76 Financials stocks in the S&P 500
BX price chart
1Y price change: -23.9% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| BX | -1.1% | -21.1% | -20.8% | +11.8% | +0.4% | +22.5% | +12.2% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 2007.
BX key statistics
- Market cap
- $141.0B
- #85 in S&P 500
- P/E (TTM)
- 26.3x
- Forward P/E
- 16.0x
- EPS (TTM)
- $4.49
- Revenue (TTM)
- $15.5B
- -1%
- Free cash flow
- $5.5B
- Gross margin
- 100.0%
- Operating margin
- 48.9%
- Return on equity
- 32.4%
- Dividend yield
- 4.43%
- 52-week range
- $101.73 – $165.14
- Beta
- 1.59
- Price / sales
- 9.1x
- EV / EBITDA
- —
- Debt / equity
- 0.68x
- Employees
- 5,285
BX report card
B-Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth-0.5%F
- Gross margin100.0%A
- Operating margin48.9%A
- FCF margin35.5%A
- Return on equity32.4%A
- Net debt / EBITDA——
- Forward P/E16.0xB
- PEG ratio1.1xB
- Shareholder yield4.4%B
- Share count change / yr2.3%F
Blackstone financials
Revenue went from $5.1B in fiscal 2016 to $14.5B in fiscal 2025, growing 12.2% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.1B | $7.1B | $6.8B | $7.3B | $6.1B | $22.6B | $8.5B | $8.0B | $13.2B | $14.5B |
| Net income | $1.0B | $1.5B | $1.5B | $2.0B | $1.0B | $5.9B | $1.7B | $1.4B | $2.8B | $3.0B |
| EPS (diluted) | $1.56 | $2.21 | $2.26 | $3.03 | $1.50 | $8.13 | $2.36 | $1.84 | $3.62 | $3.87 |
| Free cash flow | -$110.4M | -$1.7B | $27.4M | $1.9B | $1.8B | $3.9B | $6.1B | $3.8B | $3.4B | $4.5B |
| Dividends paid | — | $2.8B | $3.0B | $2.4B | $2.4B | $4.6B | $6.5B | $4.3B | $4.4B | $6.0B |
| Diluted shares | 1.2B | 666.2M | 1.2B | 676.2M | 697.3M | 720.1M | 740.9M | 755.4M | 766.6M | 780.2M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into BX?
A reverse DCF asks what growth the current price requires. With an enterprise value of $152.2B and $5.5B of trailing free cash flow, Blackstone needs to grow free cash flow about 18.9% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 20.0% a year over the last five years.
P/E ratio history
Current 30.5x vs. median 24.0x (10th–90th percentile 13.6x–77.1x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
BX dividend
- Dividend yield
- 4.43%
- Annual dividend
- $5.23
- Years of increases
- 2
- 5-yr dividend growth
- 19.7%
- per year
- Payout ratio
- 111%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
BX earnings
Next report: January 28, 2027. Blackstone has beaten EPS estimates 8 quarters in a row.
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Oct 22, 2026 | $1.26 | $1.32 | +4.9% |
| Jul 23, 2026 | $1.34 | $1.52 | +13.7% |
| Apr 23, 2026 | $1.34 | $1.36 | +1.7% |
| Jan 29, 2026 | $1.54 | $1.75 | +13.9% |
| Oct 23, 2025 | $1.23 | $1.52 | +23.9% |
| Jul 24, 2025 | $1.10 | $1.21 | +9.8% |
| Apr 17, 2025 | $1.06 | $1.09 | +3.1% |
| Jan 30, 2025 | $1.47 | $1.69 | +15.2% |
Stocks like BX
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 BLK BlackRock | -1.67% | +2% | $181.7B | 25.5x | Compare |
 BNY Bank of New York Mellon Cor | -0.03% | +39% | $97.8B | 16.1x | Compare |
 KKR KKR | -1.88% | -24% | $84.4B | 29.2x | Compare |
 APO Apollo Global Management | -1.74% | -7% | $66.6B | 40.4x | Compare |
 STT State Street | -0.01% | +50% | $45.8B | 13.7x | Compare |
 AMP Ameriprise Financial | -0.93% | +4% | $43.5B | 11.9x | Compare |
 ARES Ares Management | -1.31% | -14% | $40.5B | 56.3x | Compare |
 NTRS Northern Trust | +1.27% | +37% | $30.7B | 13.2x | Compare |
BX news
- Blackstone: 3 Key Takeaways for Long-Term Investors · Oct 24, 2026
- Is Blackstone a Buy After Its Latest Earnings Report? · Oct 23, 2026
- Blackstone Opportunistic Funds Fall 3.2% as Rates Bite · Oct 23, 2026
- Blackstone's $2.3 Billion CoreWeave Bet Sparked a Trillion-Dollar AI Lending Boom · Oct 23, 2026
- BX Q3 deep dive: AI infrastructure, fundraising momentum, and real estate crosscurrents · Oct 23, 2026
BX stock FAQ
What is BX's market cap?
Blackstone's market capitalization is $141.01 billion as of October 23, 2026, ranking 85th in the S&P 500.
What is BX's P/E ratio?
BX trades at a trailing price-to-earnings ratio of 26.3x and a forward P/E of 16.0x. Its median P/E over the period we track is 24.0x.
Does BX pay a dividend?
Yes. Blackstone pays $5.23 per share a year, a 4.43% yield. It has raised its dividend 2 years in a row. Dividends grew 19.7% a year over the last five years.
How much has BX stock returned?
Including reinvested dividends, BX returned -20.8% over one year, +0.4% a year over five years, +22.5% a year over ten years through October 23, 2026.
Is BX stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Blackstone must grow free cash flow about 19% a year for the next decade. Its free cash flow grew 20% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
When does BX report earnings?
Blackstone is expected to report earnings on January 28, 2027. It has beaten EPS estimates 8 quarters in a row.
How many employees does Blackstone have?
Blackstone has about 5,285 full-time employees, or $2.9 million of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology