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Blackstone Group
(NYSE:BX)
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Rating:73Outperform
Price Target:
$137.00
â–²(6.14% Upside)
Action:Reiterated
Date:07/23/26
The score is primarily driven by strong underlying profitability/cash generation and a bullish-leaning earnings call highlighting accelerating fee growth drivers, record AUM/inflows, and expanding performance-fee potential. These positives are tempered by balance-sheet leverage, the inherently volatile realization cycle (including expected Q3 deceleration), and only moderate technical strength with the stock still below its 200-day average.
Positive Factors
Fundraising & AUM Scale
Sustained large inflows and record AUM create durable management-fee revenue and competitive scale benefits. A $1.35T AUM base spreads fixed costs, supports product breadth, and increases the pool for performance fees and proprietary co-investments over multiple quarters to years.
Negative Factors
Elevated Financial Leverage
Higher debt relative to equity constrains flexibility to deploy capital or absorb shocks, raising refinancing and interest risks. For an asset manager this can limit opportunistic investments and amplify earnings variability if markets sour over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Fundraising & AUM Scale
Sustained large inflows and record AUM create durable management-fee revenue and competitive scale benefits. A $1.35T AUM base spreads fixed costs, supports product breadth, and increases the pool for performance fees and proprietary co-investments over multiple quarters to years.
Read all positive factors
Blackstone Group Key Performance Indicators (KPIs)
Any
Assets Under Management
Indicates the total value of assets that Blackstone Group manages on behalf of clients, reflecting the scale of its operations and potential for fee-based revenue growth.
Indicates the total value of assets that Blackstone Group manages on behalf of clients, reflecting the scale of its operations and potential for fee-based revenue growth.
Data provided by:
The Fly
The FlyBlackstone Group (BX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$159.30B
Dividend Yield3.89%
Average Volume (3M)4.92M
Price to Earnings (P/E)28.4
Beta (1Y)1.28
Revenue Growth27.99%
EPS Growth20.33%
CountryUS
Employees5,285
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)4.50
Shares Outstanding752,601,260
10 Day Avg. Volume4,918,397
30 Day Avg. Volume4,921,553
Financial Highlights & Ratios
PEG Ratio5.53
Price to Book (P/B)13.89
Price to Sales (P/S)8.70
P/FCF Ratio68.98
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$143.63Price Target Upside11.27% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering16
EPS Forecast (FY)5.93
Revenue Forecast (FY)$14.61B
Blackstone Group Business Overview & Revenue Model
Company Description
Blackstone Inc. operates as a prominent alternative asset manager, specializing in a broad spectrum of investment strategies. Its expertise encompasses real estate, private equity, credit solutions, comprehensive hedge fund offerings, public debt ...
How the Company Makes Money
Blackstone primarily makes money by managing assets for clients and earning (1) recurring management fees and (2) performance-based income, supplemented by (3) investment income on its own capital and, to a lesser extent, (4) advisory/transaction-...
Blackstone Group Earnings Call Summary
Earnings Call Date:Jul 23, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 15, 2026
Earnings Call Sentiment Positive
The call highlighted broad, multi‑channel growth—double‑digit increases in distributable earnings, fee revenues and realizations; record inflows and clear leadership in AI/infrastructure and data centers supported by large new partnerships and product launches. Headwinds are concentrated but meaningful: near‑term realization timing risk, elevated redemptions in one wealth vehicle (BCRED), and some real estate base‑fee pressure. On balance the positive achievements, strong fundraising momentum, and expanding fee streams materially outweigh the cited challenges.Positive Updates
Strong Earnings Growth
Distributable earnings rose 26% year‑over‑year to $2.0 billion ($1.52 per common share); fee related earnings grew 22% YoY to $1.8 billion and fee revenues increased 22% YoY to $3.0 billion.
Negative Updates
BCRED Redemption Pressure and Net Outflows
BCREDG reported gross sales of $1 billion but repurchase requests exceeded the 5% limit; only ~50% of requests were fulfilled, resulting in net outflows of approximately $1.2 billion and elevated redemption activity (though early Q3 redemptions were reported as materially lower).
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Earnings Growth
Distributable earnings rose 26% year‑over‑year to $2.0 billion ($1.52 per common share); fee related earnings grew 22% YoY to $1.8 billion and fee revenues increased 22% YoY to $3.0 billion.
Read all positive updates
Company Guidance
Guidance flagged continued top‑line momentum into Q3 and 2027: management expects base management fee growth in Q3 similar to Q2 with a return to double‑digit base fee growth in 2027, a sequential deceleration in net realizations in Q3 followed by a robust Q4 and into 2027, and continued capital deployment into AI infrastructure. Current quarter and pipeline metrics underpinning that outlook include distributable earnings of $2.0B ($1.52/sh, +26% YoY), fee‑related earnings of $1.8B ($1.43/sh, +22% YoY), fee revenues of $3.0B (+22% YoY), fee‑related performance revenues of $793M (+68% YoY), transaction & advisory fees of $321M (record), net realizations of $414M, gross performance revenues of $731M, and net accrued performance revenue of $7.5B ($6/sh, +13% YoY, +7% seq). Scale and fundraising trends cited as drivers: AUM $1.35T (+11% YoY) with nearly $70B of Q2 inflows and >$260B LTM, data center platform value $185B (from $130B at start of year) with >3x leasing planned this year and potential to double in the coming years, infrastructure AUM $90B (+40% YoY), BXMA AUM $109B (+21% YoY) (plus $4.8B July 1 inflows), credit platform ~ $550B (+13% YoY) with $33B Q2 inflows (~50% of firm), insurance AUM $290B (+15% YoY), private wealth AUM $324B (+16% YoY, $8.6B sales in Q2), BREIT NAV $57B (+7% YoY, $1.2B raised Q2), BXP NAV >$25B (20% net annualized return), and BCREDG gross sales $1B (net outflows $1.2B).Blackstone Group Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
64
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 16.04B | 13.83B | 11.37B | 7.44B | 7.45B | 16.85B |
| Gross Profit | 14.25B | 11.90B | 10.93B | 7.01B | 7.13B | 16.65B |
| EBITDA | 8.43B | 7.21B | 6.50B | 3.00B | 3.53B | 13.63B |
| Net Income | 3.52B | 3.02B | 2.78B | 1.39B | 1.75B | 5.86B |
Balance Sheet | ||||||
| Total Assets | 49.89B | 47.71B | 43.47B | 40.29B | 42.52B | 41.20B |
| Cash, Cash Equivalents and Short-Term Investments | 2.51B | 2.63B | 1.97B | 2.96B | 4.25B | 2.12B |
| Total Debt | 14.03B | 13.31B | 12.29B | 12.29B | 13.37B | 8.71B |
| Total Liabilities | 27.46B | 25.83B | 23.97B | 22.21B | 22.84B | 19.49B |
| Stockholders Equity | 9.01B | 8.67B | 8.21B | 6.82B | 7.66B | 9.42B |
Cash Flow | ||||||
| Free Cash Flow | 2.51B | 1.74B | 3.42B | 3.83B | 6.10B | 3.92B |
| Operating Cash Flow | 2.59B | 1.86B | 3.48B | 4.06B | 6.34B | 3.99B |
| Investing Cash Flow | 1.18B | 5.28B | -61.41M | -229.65M | -235.50M | -64.32M |
| Financing Cash Flow | -3.58B | -6.40B | -4.50B | -5.05B | -3.79B | -3.78B |
Blackstone Group Technical Analysis
Positive
129.08
Price Trends
121.45
Positive
119.18
Positive
130.35
Negative
Market Momentum
1.80
Negative
61.85
Neutral
50.92
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BX, the sentiment is Positive. The current price of 129.08 is above the 20-day moving average (MA) of 125.73, above the 50-day MA of 121.45, and below the 200-day MA of 130.35, indicating a neutral trend. The MACD of 1.80 indicates Negative momentum. The RSI at 61.85 is Neutral, neither overbought nor oversold. The STOCH value of 50.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BX.
Blackstone Group Risk Analysis
Blackstone Group disclosed 60 risk factors in its most recent earnings report. Blackstone Group reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Blackstone Group Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $178.60B | 25.72 | 12.11% | 2.07% | 22.99% | 1.35% | |
73 Outperform | $159.30B | 28.39 | 30.28% | 3.02% | 27.99% | 20.33% | |
68 Neutral | $90.67B | 30.19 | 9.92% | 0.75% | 28.11% | 48.98% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | $16.41B | 53.73 | 12.56% | 5.23% | 11.60% | 28307.69% | |
63 Neutral | $40.94B | 56.68 | 14.54% | 3.90% | 46.89% | 21.89% | |
54 Neutral | $16.33B | 30.23 | 9.65% | 3.08% | -26.37% | -49.86% |
* Financial Sector Average
BX
Blackstone Group
127.75
-36.68
-22.31%
BLK
BlackRock
1,090.39
21.00
1.96%
KKR
KKR & Co
101.43
-40.18
-28.37%
CG
Carlyle Group
46.02
-11.18
-19.55%
ARES
Ares Management
128.09
-48.23
-27.35%
TPG
TPG
43.66
-9.82
-18.35%
Blackstone Group Corporate Events
Business Operations and StrategyFinancial Disclosures
Blackstone Projects Strong Second-Quarter Performance Fee Realizations
Positive
Jun 23, 2026
Blackstone reported on June 23, 2026 that it expects to generate more than $500 million in realized performance revenues and realized principal investment income from realization activity between April 1 and June 23, 2026, with the figure composed...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.