Blackstone Group (BX) AI Stock Analysis

• Market Cap: $210.51B
• Dividend Yield: 2.49%
• Average Volume (3M): 3.62M
• Price to Earnings (P/E): 46.3
• Beta (1Y): 1.40
• Revenue Growth: 23.08%
• EPS Growth: 41.35%
• Country: US
• Employees: 4,895
• Sector: Financial
• Sector Strength: 78
• Industry: Asset Management
• EPS (TTM): 1.21
• Shares Outstanding: 737,091,700
• 10 Day Avg. Volume: 3,609,463
• 30 Day Avg. Volume: 3,622,946
• PEG Ratio: 0.49
• Price to Book (P/B): 16.09
• Price to Sales (P/S): 11.62
• P/FCF Ratio: 38.64
• Enterprise Value/Market Cap: 0.67
• Enterprise Value/Revenue: 12.55
• Enterprise Value/Gross Profit: 13.09
• Enterprise Value/Ebitda: 23.09
• 1Y Price Target: $186.87
• Price Target Upside: 9.03% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 15

• Rating: 70 Outperform
• Price Target: $186.00 ▲(8.52% Upside)

Blackstone's strong financial performance and positive earnings call are the most significant factors driving the score. While the technical analysis and valuation present some concerns, the company's strategic growth initiatives and robust asset management position support a favorable outlook.

Positive Factors

Financial Performance

Blackstone beat on fundraising and FRE while deployments and realizations were in line.

Growth Potential

Blackstone's IPO pipeline is the strongest since 2021, indicating future growth potential.

Market Positioning

BX is among the best positioned for growth in the private wealth channel and emerging opportunities in retirement/401(k).

Negative Factors

Realization-Related Revenues

The update for 2Q25E would also represent a ~25% Q/Q decline from the $578mn in Realization-Related Revenues reported in 1Q25.

Revenue Expectations

The updated estimate of >$425mn is ~6% below Visible Alpha Consensus Data expectation of $450mn.

Valuation Concerns

There is a downside risk due to premium valuation and slowing FRE growth.

Blackstone Group Business Overview & Revenue Model

Company Description

Blackstone Inc. is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services. The real estate segment specializes in opportunistic, core+ investments as well as debt investment opportunities collateralized by commercial real estate, and stabilized income-oriented commercial real estate across North America, Europe and Asia. The firm's corporate private equity business pursues transactions throughout the world across a variety of transaction types, including large buyouts,special situations, distressed mortgage loans, mid-cap buyouts, buy and build platforms, which involves multiple acquisitions behind a single management team and platform, and growth equity/development projects involving significant majority stakes in portfolio companies and minority investments in operating companies, shipping, real estate, corporate or consumer loans, and alternative energy greenfield development projects in energy and power, property, dislocated markets, shipping opportunities, financial institution breakups, re-insurance, and improving freight mobility, financial services, healthcare, life sciences, enterprise tech and consumer, as well as consumer technologies. The firm considers investment in Asia and Latin America. It has a three year investment period. Its hedge fund business manages a broad range of commingled and customized fund solutions and its credit business focuses on loans, and securities of non-investment grade companies spread across the capital structure including senior debt, subordinated debt, preferred stock and common equity. Blackstone Inc. was founded in 1985 and is headquartered in New York, New York with additional offices across Asia, Europe and North America.

How the Company Makes Money

Blackstone generates revenue primarily through management fees and performance fees. Management fees are charged as a percentage of the assets under management (AUM) and are typically stable, providing a consistent income stream. Performance fees, also known as carried interest, are earnings derived from the profits generated by investments, which incentivize the firm to maximize returns for its investors. In addition to these core revenue streams, Blackstone benefits from strategic partnerships with various institutional investors and corporations, enabling it to access capital and investment opportunities. The firm also engages in co-investments alongside its funds, which can further enhance its earnings potential. Overall, Blackstone's diversified investment strategies and expansive global presence contribute significantly to its financial performance.

Blackstone Group Financial Statement Overview

Summary

Blackstone Group exhibits strong financial health with robust profitability metrics and solid cash flow. The income statement highlights effective cost management and operational efficiency, while the balance sheet shows a solid equity base with decreasing leverage. Despite some revenue growth fluctuations, the overall financial position is strong within the asset management industry.

Income Statement

The income statement for Blackstone Group demonstrates strong profitability metrics with a consistent gross profit margin and net profit margin in the recent TTM period. Revenue growth rate fluctuated due to a significant drop from 2021 to 2022, followed by a recovery. EBIT and EBITDA margins are robust, indicating effective cost management and operational efficiency.

Balance Sheet

Blackstone Group's balance sheet shows a solid equity base with an improving debt-to-equity ratio, thanks to reduced total debt levels over time. The return on equity is strong, reflecting efficient use of shareholder funds, but the equity ratio declined slightly, indicating a higher portion of assets financed by liabilities.

Cash Flow

The cash flow statement highlights steady operating cash flow and a stable free cash flow position. The free cash flow to net income ratio is favorable, suggesting good cash generation relative to earnings. Although there is a slight volatility in free cash flow growth, overall cash flow metrics are healthy.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	11.16B	11.37B	7.44B	7.45B	16.85B	5.40B
Gross Profit	10.71B	10.93B	7.01B	7.13B	16.65B	5.23B
EBITDA	6.07B	6.50B	3.00B	3.53B	13.63B	2.69B
Net Income	2.54B	2.78B	1.39B	1.75B	5.86B	1.05B
Balance Sheet
Total Assets	45.26B	43.47B	40.29B	42.52B	41.20B	26.27B
Cash, Cash Equivalents and Short-Term Investments	2.39B	1.97B	2.96B	4.25B	2.12B	2.00B
Total Debt	13.39B	12.29B	12.29B	13.37B	8.71B	6.34B
Total Liabilities	25.39B	23.97B	22.21B	22.84B	19.49B	11.68B
Stockholders Equity	7.98B	8.21B	6.82B	7.66B	9.42B	6.65B
Cash Flow
Free Cash Flow	3.58B	3.42B	3.83B	6.10B	3.92B	1.82B
Operating Cash Flow	3.65B	3.48B	4.06B	6.34B	3.99B	1.94B
Investing Cash Flow	-72.93M	-61.41M	-229.65M	-235.50M	-64.32M	-166.82M
Financing Cash Flow	-2.85B	-4.50B	-5.05B	-3.79B	-3.78B	-2.24B

Blackstone Group Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 171.40
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: 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 171.4 is above the 20-day moving average (MA) of 170.09, above the 50-day MA of 164.15, and above the 200-day MA of 157.57, indicating a bullish trend. The MACD of 1.52 indicates Positive momentum. The RSI at 55.18 is Neutral, neither overbought nor oversold. The STOCH value of 78.64 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BX.

Blackstone Group Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ARES	76 Outperform	$58.55B	102.52	13.92%	2.29%	45.89%	-9.53%
CG	76 Outperform	$23.35B	18.83	23.07%	2.17%	101.10%	―
BLK	74 Outperform	$183.93B	27.24	14.35%	1.83%	15.88%	2.87%
KKR	71 Outperform	$124.28B	66.90	8.22%	0.52%	-24.62%	-48.96%
BX	70 Outperform	$210.51B	46.27	37.72%	2.49%	23.08%	41.35%
Sector *	68 Neutral	$17.90B	11.86	10.29%	3.72%	9.74%	1.66%
TPG	63 Neutral	$22.80B	―	2.55%	3.16%	43.48%	-24.02%

Blackstone Group Corporate Events

Blackstone Reports $425M Revenue from Realizations

On June 24, 2025, Blackstone announced a preliminary estimate of over $425 million in revenue from realization activities for the period from April 1, 2025, to June 24, 2025. This estimate includes realized performance revenues and principal investment income, primarily from investment realizations closed in the second quarter, but does not predict total revenues for the quarter ending June 30, 2025, as results may differ materially.