Company financials

Blackstone Inc.

Financials Asset Management & Custody Banks New York City, New York Last filing Feb 27, 2026 · FY2025

                    Revenue
                    FY2025
                
$14.5B
                    3y CAGR +19.3%
                    
                    P68
                    
                    +9.2%
                    
                    Net income
                    FY2025
                
$3.0B
                    Net margin +20.9%
                    
                    P52
                    
                    +8.7%
                    
                    Total assets
                    FY2025
                
$47.7B
                    ROA +6.3%
                    
                    P79
                    
                    +9.8%
                    
                    Operating cash flow
                    FY2025
                
$4.7B
                    FCF margin +31.5%
                    
                    P61
                    
                    +33.9%

18 yrs · FY2008–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

25 accounts · 5 years

Total assets $47.7B

Total liabilities $25.8B

Shareholders equity $8.7B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	5.5%	4.5%	7.3%	10.0%	5.1%
Accounts Receivable	0.6%	0.5%	0.5%	1.1%	1.5%
Prepaid Expenses	0.7%	0.4%	0.5%	0.4%	0.2%
Other Current Assets	2.4%	2.2%	2.3%	1.9%	1.2%
Property,Plant and Equipment	1.1%	1.2%	1.3%	1.0%	0.6%
Operating Lease Assets	1.6%	1.9%	2.1%	2.1%	1.9%
Goodwill	4.0%	4.3%	4.7%	4.4%	4.6%
Intangible Assets	0.3%	0.4%	0.5%	0.5%	0.7%
Deferred Tax Assets	4.3%	4.6%	5.8%	4.9%	3.8%
Other Noncurrent Assets	2.4%	2.2%	2.3%	1.9%	1.2%
Total Assets	100.0%	100.0%	100.0%	100.0%	100.0%
Liabilities
Operating Lease Liabilities	1.8%	2.2%	2.5%	2.4%	2.2%
Other Current Liabilities	6.8%	6.5%	5.9%	5.0%	—
Total Current Liabilities	54.1%	55.2%	55.1%	53.7%	47.3%
Long Term Debt	26.1%	26.0%	28.8%	29.0%	18.2%
Operating Lease Liabilities Noncurrent	1.8%	2.2%	2.5%	2.4%	2.2%
Other Noncurrent Liabilities	6.8%	6.5%	5.9%	5.0%	—
Total Liabilities	54.1%	55.2%	55.1%	53.7%	47.3%
Equity
Common Stock	0.0%	0.0%	0.0%	0.0%	0.0%
Additional Paid In Capital	17.8%	17.1%	15.3%	14.0%	14.1%
Retained Earnings	0.4%	1.9%	1.6%	4.1%	8.9%
Accumulated Other Comprehensive Income	-0.0%	-0.1%	-0.0%	-0.1%	-0.0%
Noncontrolling Interest	15.1%	14.2%	12.9%	11.9%	13.6%
Total Stockholders Equity	18.2%	18.9%	16.9%	18.0%	22.9%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

17 accounts · 5 years

Revenue $14.5B

Operating income $3.0B

Net income $3.0B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	30.3%	30.4%	19.9%	20.0%	54.8%
Expenses Cost of Revenue	16.1%	15.7%	12.4%	11.7%	23.0%
Expenses Selling,General and Administrative	3.2%	3.1%	2.8%	2.6%	2.2%
Expenses Depreciation and Amortization	0.1%	0.1%	0.1%	0.2%	0.2%
Expenses Share Based Compensation	3.0%	2.7%	2.5%	2.0%	1.5%
Expenses Operating Expenses	16.1%	15.7%	12.4%	11.7%	23.0%
Other Income Expense Operating Income	6.3%	6.4%	3.5%	4.1%	14.2%
Other Income Expense Interest Expense	1.1%	1.0%	1.1%	0.7%	0.5%
Other Income Expense Other Income/expense	0.9%	0.1%	-0.2%	-0.2%	1.1%
Other Income Expense Income Before Tax	15.0%	14.9%	7.3%	8.1%	32.9%
Income Tax Income Tax Expense	2.4%	2.4%	1.3%	1.1%	2.9%
net Income net Income	6.3%	6.4%	3.5%	4.1%	14.2%
net Income Comprehensive Income	6.4%	6.3%	3.5%	4.1%	14.2%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	1.6%	1.8%	1.9%	1.7%	1.7%
Earnings Per Share Weighted Average Shares Diluted	1.6%	1.8%	1.9%	1.7%	1.7%

Cash Flow Statement

Operating, investing, and financing flows

17 accounts · 5 years

Operating cash flow $4.7B

Investing cash flow $-115.7M

Financing cash flow $-3.9B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	6.3%	6.4%	3.5%	4.1%	14.2%
Operating Activities Depreciation and Amortization	0.2%	0.2%	0.2%	0.2%	0.1%
Operating Activities Stock Based Compensation	3.0%	2.7%	2.5%	2.0%	1.5%
Operating Activities Deferred Income Taxes	0.9%	0.8%	-0.4%	-0.9%	1.1%
Operating Activities Changes In Operating Assets and Liabilities	0.4%	0.2%	-0.6%	-0.4%	-0.7%
Operating Activities net Cash From Operating Activities	9.8%	8.0%	10.1%	14.9%	9.7%
Investing Activities Capital Expenditures	0.2%	0.1%	0.6%	0.6%	0.2%
Investing Activities Business Acquisitions	0.0%	0.0%	0.0%	0.0%	0.0%
Investing Activities net Cash From Investing Activities	-0.2%	-0.1%	-0.6%	-0.6%	-0.2%
Financing Activities Proceeds From Debt	5.9%	1.7%	1.2%	8.3%	5.4%
Financing Activities Repayment of Debt	3.8%	0.2%	1.2%	0.7%	0.0%
Financing Activities Dividends Paid	12.6%	10.2%	10.6%	15.3%	11.2%
Financing Activities net Cash From Financing Activities	-8.1%	-10.4%	-12.5%	-8.9%	-9.2%
Cash Reconciliation Effect of Exchange Rate On Cash	0.0%	-0.0%	0.0%	-0.0%	-0.0%
Cash Reconciliation net Change In Cash	1.4%	-2.5%	-3.0%	5.4%	0.3%
Cash Reconciliation Cash At Beginning of Period	6.0%	5.0%	8.1%	10.6%	5.3%
Cash Reconciliation Cash At End of Period	6.0%	5.0%	8.1%	10.6%	5.3%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+46.7%	+48.5%	+37.9%	+41.6%	+58.0%
Operating margin	+20.9%	+21.0%	+17.3%	+20.5%	+25.9%
Net margin	+20.9%	+21.0%	+17.3%	+20.5%	+25.9%
FCF margin	+31.5%	+25.9%	+47.8%	+71.6%	+17.4%
Growth
Revenue CAGR (3y)	+19.3%	-16.3%	+9.6%	+5.1%	+48.9%
Returns
ROE	+34.8%	+33.8%	+20.4%	+22.8%	+62.2%
ROA	+6.3%	+6.4%	+3.5%	+4.1%	+14.2%
ROIC	+13.8%	+13.3%	+4.2%	+9.6%	+36.1%
Liquidity
Current ratio	—	—	—	—	—
Quick ratio	0.11x	0.09x	0.14x	0.21x	0.14x
Leverage
D/E	2.98x	2.92x	3.26x	2.98x	2.07x
Interest coverage	5.94x	6.26x	3.22x	5.51x	29.54x
Efficiency
Asset turnover	0.30x	0.30x	0.20x	0.20x	0.55x
Cash conversion cycle	—	—	—	—	—

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Blackstone Inc.

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