Blackstone Inc. (BX) Stock

Blackstone Inc. (BX) is a Financials stock trading at $141.38 (as of 2026-08-20), with a market capitalization of $106.12B and a trailing P/E of 30.2. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Blackstone Inc. is an alternative asset manager focused on products including real estate, private equity, hedge fund solutions, credit, and secondary funds, as well as public debt and equity and multi-asset strategies. It serves institutional and other investors through global investment activities across real estate and corporate transactions.

Understand Blackstone Inc.: how it makes money

Blackstone is an alternative asset manager focused on real estate, private equity, hedge fund solutions, credit, and other multi-asset strategies, and it makes money through management and other fee revenues plus performance revenues that are tied to investment results.

Blackstone's profit model is structurally linked to performance fee economics, which show up in the business through the size of Performance revenue eligible AUM (ground) and the amount of Net accrued performance revenue receivable on the balance sheet.

Business quality (Solid): For the period ending 2026-03-31, Blackstone reported 3.6B revenue and 40.2% operating margin, suggesting strong profitability, while key operating drivers are performance-related measures that can change as investment outcomes develop.

Valuation: At 29× earnings, BX trades 14% below the Trading average (34×). Note: one-time items can distort reported P/E.

Bull case

  • Performance fee pipeline is visible on the balance sheet: The company reports Net accrued performance revenue receivable (on balance sheet) of 8.3B, which reflects accrued performance revenues recognized on its books.
  • Large pool of performance-eligible assets: Performance revenue eligible AUM (ground) is 531.0B, indicating a substantial base of assets that can generate performance revenues.

Bear case

  • Performance revenues depend on investment outcomes and timing: Because the operating drivers include Net accrued performance revenue receivable and Performance revenue eligible AUM, performance results and their realization can vary over time.
  • Receivables and accrued amounts may not translate immediately into recognized performance revenues: The presence of accrued performance measures highlights that cash and timing can differ, meaning investors may see quarter to quarter movement in these performance-linked items.
Valuation — source: SEC EDGAR (first-party)
Price$141.38
Market Cap$106.12B
P/E Ratio30.2
EV / EBITDA14.5
Price / Book5.04
Price / Sales6.59
FCF Yield5.2%
DCF Value (model)$52.80
DCF Upside vs Price-62.7%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$14.45B
Net Margin20.9%
Revenue Growth (YoY)35.9%
EPS Growth (YoY)57.1%
FCF Growth (YoY)125.1%
Valuation vs Sector & Industry
Stock P/E30.2
Sector P/E (Financials)15.1
Industry P/E (Trading)34.6
vs Sector99.2%
vs Industry-12.8%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($11.05B)
Institutional Holders Tracked10
Congressional Trades (recent)10
Company
SectorFinancials
IndustryTrading
CEOStephen Allen Schwarzman
Employees4,895
CountryUS
IPO Date2007-06-22

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BX earnings history · BX institutional & insider holders · BX KPIs & operating metrics · BX financials · BX investor presentations & press releases · BX SEC filings · BX peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.