Blackstone Group (BX) AI Stock Analysis

• Market Cap: $163.30B
• Dividend Yield: 3.02%
• Average Volume (3M): 5.70M
• Price to Earnings (P/E): 34.3
• Beta (1Y): 1.24
• Revenue Growth: 33.12%
• EPS Growth: 19.86%
• Country: US
• Employees: 4,895
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): 1.75
• Shares Outstanding: 748,688,050
• 10 Day Avg. Volume: 7,383,559
• 30 Day Avg. Volume: 5,697,152
• 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: 1.44
• Enterprise Value/Revenue: 19.09
• Enterprise Value/Gross Profit: 19.90
• Enterprise Value/Ebitda: 36.59
• 1Y Price Target: $164.67
• Price Target Upside: 35.79% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 9
• EPS Forecast (FY): 6.37
• Revenue Forecast (FY): $15.69B

• Rating: 70 Outperform
• Price Target: $161.00 ▲(32.76% Upside)

The score is primarily driven by strong financial performance and a bullish earnings outlook (record DE/FRE, strong inflows and AUM growth). This is tempered by weak technical momentum (below key moving averages with negative MACD) and a high P/E multiple, which increases sensitivity to any slowdown or volatility.

Positive Factors

Record AUM growth & fundraising

Sustained, large-scale fundraising and rising AUM create a durable fee base and scale advantages. Recurring management fees from a $1.275T AUM platform plus elevated inflows support predictable revenue, underwriting capacity, and deployment optionality over the next several quarters.

Expanding, diversified fee streams

Rising fee-related earnings and widening FRE margins reflect stronger recurring fee economics across private equity, credit, infrastructure and wealth. A broader, growing fee mix reduces reliance on mark-to-market returns and supports sustainable cash payouts and reinvestment capacity.

Strong cash generation and profitability

High margins and improving free cash flow growth underpin operational resilience. Efficient cash conversion and strong profitability provide ongoing resources for fund investments, fee reinvestment and distributions, enhancing financial flexibility through market cycles.

Negative Factors

Elevated leverage on the balance sheet

Material leverage raises sensitivity to rising interest costs and financing market stress, limiting tactical flexibility for opportunistic investing. In adverse markets, higher debt can pressure distributable earnings and constrain timing of realizations or new deployments.

Reliance on one-time realizations

Notable contributions from nonrecurring monetizations reduce comparability and can inflate near-term distributable earnings. Dependence on sporadic exits makes underlying fee and DE growth less predictable and increases volatility in reported returns across reporting periods.

Concentration risk & slow real-estate recovery

Heavy exposure to data centers, logistics and rental housing concentrates portfolio risk; prolonged real-estate weakness reduces NAV appreciation and delays monetization windows. Concentration can amplify downside if sector fundamentals deteriorate or capital markets remain constrained.

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 from its investment funds. The company earns management fees based on the assets it manages, which are calculated as a percentage of the committed capital in its private equity, real estate, and credit funds. Additionally, Blackstone collects performance fees, also known as carried interest, which are earned when the funds exceed specific return benchmarks. This model incentivizes the firm to maximize returns for its investors. Significant partnerships and relationships with institutional investors, such as pension funds and sovereign wealth funds, contribute to its capital raising efforts and overall earnings. Furthermore, Blackstone's diverse investment strategies across various sectors help mitigate risks and enhance revenue stability.

Blackstone Group Financial Statement Overview

Summary

Strong profitability and growth (97% gross margin, 21.55% net margin, 72.9% TTM revenue growth) and positive free-cash-flow growth support the score. Offsetting factors include elevated leverage (debt-to-equity 1.59) and weaker cash conversion (operating cash flow to net income 0.18), plus some pressure in EBIT/EBITDA margins.

Income Statement

Blackstone Group's income statement shows strong performance with a high gross profit margin of 97% and a solid net profit margin of 21.55% for the TTM. The revenue growth rate is impressive at 72.9% TTM, indicating robust expansion. However, the EBIT and EBITDA margins have slightly decreased compared to previous years, suggesting some pressure on operational efficiency.

Balance Sheet

The balance sheet reflects a high debt-to-equity ratio of 1.59, indicating significant leverage, which could pose risks if not managed carefully. Return on equity is strong at 32.88%, showcasing effective use of equity to generate profits. The equity ratio is moderate, suggesting a balanced asset structure but with room for improvement in reducing leverage.

Cash Flow

Cash flow analysis reveals a positive free cash flow growth rate of 11.32% TTM, indicating improved cash generation. The operating cash flow to net income ratio is relatively low at 0.18, suggesting potential challenges in converting income to cash. However, the free cash flow to net income ratio is healthy at 97.2%, reflecting efficient cash management.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	12.29B	11.37B	7.44B	7.45B	16.85B	5.40B
Gross Profit	11.79B	10.93B	7.01B	7.13B	16.65B	5.23B
EBITDA	6.41B	6.50B	3.00B	3.53B	13.63B	2.69B
Net Income	2.71B	2.78B	1.39B	1.75B	5.86B	1.05B
Balance Sheet
Total Assets	45.08B	43.47B	40.29B	42.52B	41.20B	26.27B
Cash, Cash Equivalents and Short-Term Investments	2.43B	1.97B	2.96B	4.25B	2.12B	2.00B
Total Debt	12.89B	12.29B	12.29B	13.37B	8.71B	6.34B
Total Liabilities	25.19B	23.97B	22.21B	22.84B	19.49B	11.68B
Stockholders Equity	8.40B	8.21B	6.82B	7.66B	9.42B	6.65B
Cash Flow
Free Cash Flow	3.65B	3.42B	3.83B	6.10B	3.92B	1.82B
Operating Cash Flow	3.76B	3.48B	4.06B	6.34B	3.99B	1.94B
Investing Cash Flow	-105.24M	-61.41M	-229.65M	-235.50M	-64.32M	-166.82M
Financing Cash Flow	-3.35B	-4.50B	-5.05B	-3.79B	-3.78B	-2.24B

Blackstone Group Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 121.27
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BX, the sentiment is Negative. The current price of 121.27 is below the 20-day moving average (MA) of 134.96, below the 50-day MA of 146.41, and below the 200-day MA of 152.06, indicating a bearish trend. The MACD of -6.08 indicates Positive momentum. The RSI at 28.55 is Positive, neither overbought nor oversold. The STOCH value of 28.81 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BX.

Blackstone Group Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BLK	78 Outperform	$178.19B	30.93	―	1.92%	15.79%	-3.85%
BX	70 Outperform	$163.30B	34.34	35.78%	3.02%	33.12%	19.86%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
KKR	67 Neutral	$92.35B	44.27	9.12%	0.56%	-33.80%	-24.81%
ARES	66 Neutral	$43.79B	68.34	―	2.65%	50.70%	7.32%
TPG	63 Neutral	$18.09B	106.82	13.14%	3.03%	25.02%	235.70%
CG	59 Neutral	$19.79B	25.18	12.77%	2.30%	-24.62%	437.16%

Blackstone Group Corporate Events

Blackstone Group Completes $1.2 Billion Senior Notes Offering

On November 3, 2025, Blackstone Inc. announced the completion of its offering of $1.2 billion in senior notes through its subsidiary, Blackstone Reg Finance Co. L.L.C. The offering includes $600 million of 4.300% senior notes due 2030 and $600 million of 4.950% senior notes due 2036, with the proceeds intended for general corporate purposes. The notes are unsecured and unsubordinated obligations, fully guaranteed by Blackstone and its subsidiaries. The issuance is part of a strategy to strengthen Blackstone’s financial position and support its operational flexibility, with implications for stakeholders including potential impacts on the company’s credit profile and market positioning.

The most recent analyst rating on (BX) stock is a Hold with a $165.00 price target. To see the full list of analyst forecasts on Blackstone Group stock, see the BX Stock Forecast page.