Balance Sheet Blackstone Inc.

Equities

BX

US09260D1072

Investment Management & Fund Operators

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Published financial data: BLACKSTONE INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Interest and Dividend Income, Total	161M	272M	516M	411M	416M
Interest Expense, Total	198M	317M	432M	444M	508M
Net Interest Income	-37.62M	-45.61M	84.63M	-32.53M	-92.22M
Trading and Principal Transactions	2.46B	-714M	-299M	713M	946M
Asset Management Fee	5.42B	6.83B	7.37B	8.15B	9.05B
Gain (Loss) on Sale of Investments, Total (Rev)	14.33B	1.95B	532M	3.83B	4.31B
Other Revenues, Total	-	-	-	-	-
Revenues Before Provison For Loan Losses	22.18B	8.02B	7.68B	12.66B	14.21B
Total Revenues	22.18B	8.02B	7.68B	12.66B	14.21B
Salaries And Other Employee Benefits	2.16B	2.57B	3.31B	4.99B	5.62B
Cost of Services Provided, Total	7.12B	2.09B	1.24B	1.38B	1.57B
Total Operating Expenses	9.28B	4.66B	4.55B	6.38B	7.19B
Operating Income	12.9B	3.36B	3.13B	6.29B	7.02B
Currency Exchange Gains (Loss)	201M	183M	-94.7M	122M	-271M
Other Non Operating Income (Expenses)	461M	23.94M	-25.42M	50.23M	424M
EBT, Excl. Unusual Items	13.56B	3.57B	3.01B	6.46B	7.17B
Gain (Loss) on Sale of Investments	-	-105M	-56.8M	-	-
EBT, Incl. Unusual Items	13.56B	3.46B	2.96B	6.46B	7.17B
Income Tax Expense	1.18B	473M	513M	1.02B	1.13B
Earnings From Continuing Operations	12.37B	2.99B	2.44B	5.44B	6.05B
Net Income to Company	12.37B	2.99B	2.44B	5.44B	6.05B
Minority Interest	-6.52B	-1.24B	-1.05B	-2.66B	-3.03B
Net Income - (IS)	5.86B	1.75B	1.39B	2.78B	3.02B
Net Income to Common Incl Extra Items	5.86B	1.75B	1.39B	2.78B	3.02B
Net Income to Common Excl. Extra Items	5.86B	1.75B	1.39B	2.78B	3.02B
Per Share Items
Net EPS - Basic	8	2.35	1.84	3.62	3.87
Basic EPS - Continuing Operations	8	2.35	1.84	3.62	3.87
Basic Weighted Average Shares Outstanding	732M	743M	755M	766M	780M
Net EPS - Diluted	8	2.35	1.84	3.62	3.87
Diluted EPS - Continuing Operations	8	2.35	1.84	3.62	3.87
Diluted Weighted Average Shares Outstanding	732M	743M	755M	767M	780M
Normalized Basic EPS	2.67	1.33	1.1	1.8	1.87
Normalized Diluted EPS	2.67	1.33	1.1	1.79	1.86
Dividend Per Share	4.06	4.4	3.35	3.95	4.74
Payout Ratio	-	208.7	178.18	94.69	120.42
Supplemental Items
Total Revenues (As Reported)	22.58B	8.52B	8.02B	13.23B	14.45B
Effective Tax Rate - (Ratio)	8.73	13.66	17.36	15.82	15.69
Current Domestic Taxes	664M	758M	549M	545M	541M
Current Foreign Taxes	55.38M	75.86M	113M	129M	142M
Total Current Taxes	720M	834M	662M	674M	684M
Deferred Domestic Taxes	467M	-358M	-141M	348M	445M
Deferred Foreign Taxes	-2.65M	-3.05M	-7.02M	-471K	-3.82M
Total Deferred Taxes	465M	-361M	-148M	348M	441M
Normalized Net Income	1.96B	988M	831M	1.38B	1.45B
Supplemental Operating Expense Items
Stock-Based Comp., COGS (Total)	8.27M	9.92M	-	-	-
Stock-Based Comp., G&A Exp. (Total)	551M	772M	959M	1.16B	1.44B
Stock-Based Comp., Other (Total)	77.9M	64.26M	28.08M	9.31M	2.11M
Total Stock-Based Compensation	637M	846M	988M	1.17B	1.45B

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	2.12B	4.25B	2.96B	1.97B	2.63B
Securities Purchased Under Agreements To Resell	-	-	-	-	-
Accounts Receivable, Total	3.52B	3.34B	3.64B	4.05B	5.05B
Other Receivables	1.77B	1.26B	1.02B	1.6B	1.6B
Gross Property Plant And Equipment	1.31B	1.65B	1.78B	1.83B	1.71B
Accumulated Depreciation	-279M	-337M	-395M	-483M	-431M
Net Property Plant And Equipment	1.03B	1.31B	1.38B	1.34B	1.28B
Goodwill	1.89B	1.89B	1.89B	1.89B	1.89B
Other Intangibles, Total	284M	217M	201M	165M	131M
Investment In Debt and Equity Securities	28.6B	27.46B	9.45B	10.86B	12.69B
Trading Asset Securities, Total	145M	203M	171M	180M	135M
Restricted Cash	79.99M	242M	316M	204M	223M
Other Current Assets, Total	92.36M	165M	208M	193M	315M
Deferred Tax Assets Long-Term (Collected)	1.58B	2.06B	2.33B	2B	2.06B
Other Long-Term Assets, Total	73.61M	111M	16.72B	19.01B	19.71B
Total Assets	41.2B	42.52B	40.29B	43.47B	47.71B
Liabilities
Accounts Payable, Total	742M	916M	1.41B	1.46B	1.32B
Accrued Expenses, Total	7.91B	6.1B	5.25B	6.09B	6.41B
Short-Term Borrowings	206M	178M	655M	1.08B	1.25B
Current Portion of Long-Term Debt	-	400M	-	316M	711M
Current Portion of Leases	120M	142M	163M	179M	161M
Long-Term Debt	7.75B	11.95B	11.3B	11.01B	11.73B
Long-Term Leases	788M	879M	827M	787M	700M
Other Current Liabilities - (Brok / FS / Ins. / REIT Template)	27.85M	3.82M	3.89M	1.92M	1.98M
Other Non Current Liabilities	1.95B	2.27B	2.61B	3.06B	3.54B
Total Liabilities	19.49B	22.84B	22.21B	23.97B	25.83B
Common Stock, Total	7K	7K	7K	7K	7K
Additional Paid In Capital	5.79B	5.94B	6.18B	7.44B	8.48B
Retained Earnings	3.65B	1.75B	661M	808M	192M
Comprehensive Income and Other	-19.63M	-27.48M	-19.13M	-40.33M	-6.01M
Total Common Equity	9.42B	7.66B	6.82B	8.21B	8.67B
Minority Interest	12.28B	12.03B	11.26B	11.28B	13.22B
Total Equity	21.71B	19.68B	18.08B	19.5B	21.88B
Total Liabilities And Equity	41.2B	42.52B	40.29B	43.47B	47.71B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	732M	743M	758M	769M	783M
ECS Total Common Shares Outstanding	732M	743M	758M	769M	783M
Book Value / Share	12.87	10.31	8.99	10.68	11.06
Tangible Book Value	7.25B	5.55B	4.73B	6.16B	6.64B
Tangible Book Value Per Share	9.9	7.47	6.23	8.01	8.48
Total Debt	8.86B	13.55B	12.95B	13.36B	14.56B
Net Debt	6.6B	9.09B	9.82B	11.21B	11.79B
Equity Method Investments, Total	-	-	16.7B	18.94B	19.53B
Full Time Employees	3.8K	4.7K	4.74K	4.9K	5.28K

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	5.86B	1.75B	1.39B	2.78B	3.02B
Depreciation, Depletion & Amortization	52.19M	69.2M	94.1M	98.8M	98.98M
Amortization of Goodwill and Intangible Assets - (CF)	74.87M	67.1M	40.08M	35.96M	36.02M
Total Depreciation, Depletion & Amortization	127M	136M	134M	135M	135M
(Gain) Loss on Sale of Investments - (CF)	-8.7B	-4.65B	-2.31B	-4.66B	-5.31B
Stock-Based Compensation (CF)	6.8B	1.78B	1.46B	3.11B	3.39B
Minority Interest in Earnings - (CF)	-	-	-	-	-
Change in Accounts Receivable	288M	178M	238M	-78.28M	-212M
Change in Accounts Payable	152M	149M	-40.28M	195M	514M
Change in Other Net Operating Assets (Collected)	1.75B	3.73B	1.36B	257M	832M
Other Operating Activities	-2.29B	3.27B	1.82B	1.75B	2.29B
Cash from Operations	3.99B	6.34B	4.06B	3.48B	4.66B
Capital Expenditure	-64.32M	-235M	-224M	-61.41M	-116M
Cash Acquisitions	-	-	-5.42M	-	-
Other Investing Activities, Total	-	-	-	-	-
Cash from Investing	-64.32M	-235M	-230M	-61.41M	-116M
Long-Term Debt Issued, Total	2.22B	3.52B	495M	741M	2.81B
Total Debt Issued	2.22B	3.52B	495M	741M	2.81B
Long-Term Debt Repaid, Total	-	-281M	-502M	-103M	-1.81B
Total Debt Repaid	-	-281M	-502M	-103M	-1.81B
Repurchase of Common Stock	-1.27B	-466M	-418M	-661M	-312M
Common Dividends Paid	-	-3.65B	-2.48B	-2.63B	-3.64B
Common & Preferred Stock Dividends Paid	-	-3.65B	-2.48B	-2.63B	-3.64B
Special Dividend Paid	-	-	-	-	-
Other Financing Activities, Total	-4.73B	-2.92B	-2.15B	-1.85B	-931M
Cash from Financing	-3.78B	-3.79B	-5.05B	-4.5B	-3.88B
Foreign Exchange Rate Adjustments	-9.81M	-12.32M	4.99M	-14.56M	9.84M
Net Change in Cash	135M	2.29B	-1.22B	-1.1B	678M
Supplemental Items
Cash Interest Paid	194M	262M	400M	407M	464M
Cash Income Tax Paid (Refund)	701M	683M	569M	647M	563M
Net Debt Issued / Repaid	2.22B	3.24B	-7.48M	638M	1B

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	36.69	7.14	5.9	12.98	13.26
Return On Equity %	68.19	14.44	12.95	28.95	29.23
Return on Common Equity	72.88	20.47	19.22	36.95	35.78
Margin Analysis
Gross Profit Margin %	72.1	87.99	100	100	100
SG&A Margin	13.93	46.07	59.21	50.35	50.62
Income From Continuing Operations Margin %	55.8	37.29	31.81	42.94	42.54
Net Income Margin %	26.41	21.8	18.1	21.93	21.24
Net Avail. For Common Margin %	26.41	21.8	18.1	21.93	21.24
Normalized Net Income Margin	8.82	12.33	10.81	10.87	10.24
Asset Turnover
Asset Turnover	0.66	0.19	0.19	0.3	0.31
Short Term Liquidity
Current Ratio	0.86	1.22	1.11	0.9	1.01
Quick Ratio	0.84	1.17	1.04	0.86	0.96
Operating Cash Flow to Current Liabilities	0.44	0.82	0.54	0.38	0.47
Long Term Solvency
Total Debt/Equity	40.83	68.84	71.64	68.54	66.53
Total Debt / Total Capital	28.99	40.77	41.74	40.67	39.95
LT Debt/Equity	39.33	65.18	67.11	60.49	56.83
Long-Term Debt / Total Capital	27.92	38.61	39.1	35.89	34.12
Total Liabilities / Total Assets	47.31	53.72	55.13	55.15	54.14
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	258.32	-63.85	-4.14	64.79	12.24
Gross Profit, 1 Yr. Growth %	193.04	-55.88	-4.14	64.79	12.24
Earnings From Cont. Operations, 1 Yr. Growth %	447.2	-75.85	-18.22	122.47	11.2
Net Income, 1 Yr. Growth %	460.32	-70.16	-20.41	99.62	8.74
Normalized Net Income, 1 Yr. Growth %	366.17	-49.51	-15.93	65.63	5.74
Diluted EPS Before Extra, 1 Yr. Growth %	438.83	-70.59	-22.02	96.74	6.91
Common Equity, 1 Yr. Growth %	41.65	-18.75	-10.96	20.47	5.52
Total Assets, 1 Yr. Growth %	56.82	3.22	-5.26	7.9	9.75
Tangible Book Value, 1 Yr. Growth %	64.64	-23.45	-14.83	30.29	7.91
Cash From Operations, 1 Yr. Growth %	105.89	58.96	-35.97	-14.18	33.93
Capital Expenditures, 1 Yr. Growth %	-42.4	266.16	-4.78	-72.61	88.41
Dividend Per Share, 1 Yr. Growth %	79.65	8.37	-23.86	17.91	20
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	77.25	13.81	-41.14	25.69	36
Gross Profit, 2 Yr. CAGR %	65.87	13.7	-41.14	25.69	36
Earnings From Cont. Operations, 2 Yr. CAGR %	78.91	14.96	-55.56	34.88	57.28
Net Income, 2 Yr. CAGR %	69.05	29.3	-51.27	26.04	47.33
Normalized Net Income, 2 Yr. CAGR %	85.3	53.41	-34.85	18	32.34
Diluted EPS Before Extra, 2 Yr. CAGR %	62.47	25.88	-52.43	23.86	45.03
Common Equity, 2 Yr. CAGR %	15.94	7.28	-14.95	3.57	12.75
Total Assets, 2 Yr. CAGR %	12.44	27.23	-1.11	1.11	8.82
Tangible Book Value, 2 Yr. CAGR %	23.63	12.26	-19.26	5.34	18.58
Cash From Operations, 2 Yr. CAGR %	42.49	80.91	0.89	-25.87	7.21
Capital Expenditures, 2 Yr. CAGR %	3.29	45.23	86.72	-48.94	-28.17
Dividend Per Share, 2 Yr. CAGR %	44.29	39.53	-9.16	-5.25	18.95
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	54.64	4.33	7.48	-17.04	21.03
Gross Profit, 3 Yr. CAGR %	48	6.67	12.09	-17.04	21.03
Earnings From Cont. Operations, 3 Yr. CAGR %	55.94	-8.22	2.62	-23.97	26.47
Net Income, 3 Yr. CAGR %	56.04	-5.18	9.99	-22.03	19.99
Normalized Net Income, 3 Yr. CAGR %	60.44	20.13	25.54	-11.08	13.77
Diluted EPS Before Extra, 3 Yr. CAGR %	52.42	-8.09	7.41	-23.64	17.93
Common Equity, 3 Yr. CAGR %	13.89	2.98	0.82	-4.48	4.22
Total Assets, 3 Yr. CAGR %	12.51	9.28	15.32	1.81	3.91
Tangible Book Value, 3 Yr. CAGR %	21.5	5.37	2.39	-5.29	6.19
Cash From Operations, 3 Yr. CAGR %	343.34	47.78	27.97	-4.41	-9.71
Capital Expenditures, 3 Yr. CAGR %	51.83	57.5	26.17	-1.53	-21.09
Dividend Per Share, 3 Yr. CAGR %	29.95	31.16	14.02	-0.91	2.51
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	34.74	2.9	5.08	12.4	18.09
Gross Profit, 5 Yr. CAGR %	31.11	5.27	9.27	16.86	21.11
Earnings From Cont. Operations, 5 Yr. CAGR %	40.64	-2.4	-5.62	7.06	21.74
Net Income, 5 Yr. CAGR %	41.32	3.5	-2.04	6.26	23.63
Normalized Net Income, 5 Yr. CAGR %	47.72	8.07	11.88	19.27	28.22
Diluted EPS Before Extra, 5 Yr. CAGR %	38.64	1.26	-4.03	3.61	21.12
Common Equity, 5 Yr. CAGR %	7.84	2.91	1.34	3.22	5.43
Total Assets, 5 Yr. CAGR %	9.3	4.32	6.85	5.93	12.68
Tangible Book Value, 5 Yr. CAGR %	10.1	4.53	3.18	5.36	8.58
Cash From Operations, 5 Yr. CAGR %	114.11	31.26	145.23	12.14	19.22
Capital Expenditures, 5 Yr. CAGR %	24.13	57.44	64.92	0.37	0.72
Dividend Per Share, 5 Yr. CAGR %	21.71	10.26	12.61	15.16	15.97