Fundamentals snapshot
BX · NYQ · Financial Services · Asset Management
Current price
$122.01
52-week range
$101.73 - $165.14
Market cap
$150.61B
One-glance verdict
We don't put a cash-flow fair value on banks and insurers. For these companies the reported 'cash flow' is really just money moving between loans, deposits and trades — not the leftover profit the owners could actually pocket — so the usual method would print a misleading number.
Balance sheet
Net debt $12.29B. Interest coverage shows how many times profit covers the interest bill.
What stands out
What this company does
Blackstone Inc. is a company that manages money for wealthy clients and institutions, investing it in things like private companies, real estate, and loans. Their main income comes from the fees they charge for managing these investments, which matters because it shows how much they are trusted with other people's money.
Blackstone was founded in 1985 by Pete Peterson and Stephen Schwarzman as a mergers and acquisitions firm. They started with just $400,000 of their own money and a small team. Their early success came from identifying undervalued companies and helping to buy and sell them. Over time, Blackstone grew beyond just advising on deals to actually investing its own money and managing money for others, expanding into real estate and other investment areas. This evolution allowed them to become one of the world's largest investment firms.
Blackstone is an investment company that manages money for wealthy individuals and institutions, like pension funds. They invest this money in various things like private companies, real estate, and credit. Think of them as a manager for a very large pool of money, deciding where to put it to make more money over time. They make their own money by charging fees for managing these investments and by taking a share of the profits when their investments do well.
This part of Blackstone buys, sells, and manages properties. This includes everything from huge office buildings and shopping malls to apartment complexes and warehouses. They invest in properties across the globe, looking for opportunities to either generate steady rental income or to sell the properties later for a profit. This segment is a significant part of Blackstone's business, making up a large portion of the money they manage and the profits they earn.
In this segment, Blackstone buys entire companies or large stakes in companies that are not publicly traded on a stock exchange. They often invest in businesses that they believe are undervalued or have potential for significant growth. Blackstone will then work with the management of these companies to improve their operations and increase their value, with the goal of selling them later for a profit. This is one of Blackstone's oldest and largest business areas.
This segment focuses on lending money and investing in debt. They provide loans to companies and invest in various types of bonds and other debt instruments. They also offer insurance-related investment solutions. The goal here is to generate income from interest payments and to profit from the appreciation of these debt investments. This business has grown considerably for Blackstone, providing a steady stream of income.
Blackstone also offers 'hedge fund solutions,' which means they invest in and manage other hedge funds. Hedge funds are investment funds that use complex strategies to try and generate high returns, often with higher risk. Blackstone provides access to a variety of these funds for their clients, managing the investments and aiming to achieve strong performance. This segment helps diversify Blackstone's offerings and provides clients with access to different investment styles.
Blackstone's management is focused on growing its various investment businesses, particularly in areas like real estate and credit, which have been strong performers. They are also looking to expand their insurance solutions business, aiming to attract more capital from insurance companies. A key strategy is to continue raising larger funds and attracting more clients, allowing them to make bigger investments and earn more in fees and profits. They are also investing in technology to improve their operations and client services across all their business lines.
Price history
Earnings history
Click any quarter to read the call summary and what the numbers say.
Is it cheap or expensive?
For a bank or insurer, the "free cash flow" shown on its statements is mostly money flowing through loans, deposits and trades — not the leftover profit the owners could actually keep, which is what this kind of valuation needs. Running that through the usual method would spit out a meaningless number, so we leave the cash-flow fair value out here rather than show you something misleading.
Is it drowning in debt?
Net debt $12.3B. Interest coverage unavailable.
Blackstone Inc. is healthier than 2 of 6 peers on balance-sheet leverage.
Total debt $15.49B Interest coverage — This is the baseline the peer rows are being compared against.
Total debt $56.42B Interest coverage 0.16x This peer's profit covers its interest bill about 0.2 times over.
Total debt $44.89B Interest coverage 22.32x This peer's profit covers its interest bill about 22.3 times over.
Total debt $14.88B Interest coverage 1.16x This peer's profit covers its interest bill about 1.2 times over.
Total debt $6.24B Interest coverage 11.24x This peer's profit covers its interest bill about 11.2 times over.
What you should know
The numbers
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Valuation
Profitability
Health
Growth
Cash flow
Dividend
Metric explainer
Debt comparison
What you should know