Financials · Asset Management & Custody Banks · US stock · price as of 22 Oct 2026
Key indicators
Price
$118.75
52-week range
$101.73 – $165.14
Market cap
$95.0B
P/E (trailing)
26.6×
Dividend yield
4.4%
Revenue (last 12 months)
$16.1B
Revenue growth (3y a year)
19.3%
Price / book
10.5×
Return on equity
39.0%
Fair value
Fair value (average of valid models)$124.40 middle half of models $122 – $128
Versus priceFair+5% to fair value
P/E multiple
$128.43
P/B multiple
$118.09
P/S multiple
$126.68
Model uncertainty
Medium
X-Ray Score
53/ 100 · Medium confidence · ahead of 58% of sector peers
Valuation47
Growth53
Profitability77
Financial health39
Dividends33
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Blackstone is an alternative asset manager that invests money on behalf of pension funds, insurers, sovereign wealth funds and individual investors. Its funds are organised into private equity, real estate, credit and insurance, and multi-asset investing businesses. It acquires and manages companies, property and loans, and raises capital through funds that investors commit to for several years.
The company earns management fees on the assets it looks after, performance fees when its funds exceed agreed return hurdles, and gains on its own investments. Revenue was $16.1 billion over the last twelve months, with growth of 19.3% a year across the last three years. The operating margin is 53.4%, and the business earns a profit of 35% on the capital invested in it. The dividend yield is 4.4%.
StocksXray gives Blackstone Inc. an X-Ray Score of 53 out of 100 (medium confidence), ahead of 58% of the S&P 500 stocks in its sector. Its strongest lens is profitability (77) and its weakest is dividends (33).
Our fair value (the average of the valid models) is $124.40 (range $122.39 to $127.55). At $118.75 the stock trades 5% below that value, so the label is "Fair" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
Blackstone Inc. (BX)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$109.43
$65.70
$120.06
$162.16
$149.45
$118.75
Market cap
$78.8B
$48.7B
$90.7B
$124.3B
$116.6B
$95.0B
P/E
13.5×
27.8×
65.3×
44.8×
38.6×
26.6×
Price / book
8.4×
6.4×
13.3×
15.1×
13.5×
10.5×
Dividend yield
3.26%
7.52%
2.77%
2.13%
3.14%
4.40%
Fundamentals checklist ● 4 Good · ● 2 Average · ● 1 Bad · each check graded against the sector
Risk models
Piotroski F-Score6 of 9Average
Growth
EPS growth (3y)17.9%Good
Revenue growth (3y)19.3%Good
Growth consistency70%Bad
Valuation
Fair value vs price1.0×Average
Profitability
Return on invested capital35.2%Good
Operating margin53.4%Good
XStocksXray
Blackstone Inc. (BX)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
22,577
8,518
8,023
13,230
14,450
16,110
Net income
5,857
1,748
1,391
2,777
3,019
3,519
Diluted EPS ($)
8.13
2.36
1.84
3.62
3.87
4.47
Net margin
25.9%
20.5%
17.3%
21.0%
20.9%
21.8%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
41,196
42,524
40,288
43,470
47,709
49,892
Cash
2,120
4,252
2,956
1,972
2,631
2,507
Total debt
7,856
12,491
11,606
11,460
12,577
13,319
Equity
9,423
7,656
6,817
8,212
8,666
9,015
Dividend per share ($)
3.57
4.94
3.32
3.45
4.69
4.97
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value is the average of up to 15 valuation models, most of them anchored to the company's own multiples, so it stays near the price and should be read as a range, not a point. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.
