Blackstone Inc. is an alternative asset management firm specializing in private equity, venture capital, real estate, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage, seed, middle market, mature, late venture, growth capital, emerging growth, turnaround, and later 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. Within fund of fund investments, it seeks to invest in private equity funds, venture capital funds, mezzanine funds, distressed debt/turnaround funds, secondary investment funds & real estate funds. The firm's corporate private equity business pursues transactions throughout the world across a variety of transaction types, including large buyouts, recapitalization, 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, cargo, data processing, oil & gas production, oil & gas refining, oil & gas storage, building products, home entertainment, B2B, consumer electronics, home supply store, lodging, commercial services & supplies, metal & mineral mining machinery, coal, hazardous waste collection, solid waste collection, waste water treatment, renewable electricity, equity REITs, power generation by nuclear & fossil fuels, personal loan services, chemicals, other specialty retail, biotech, pharmaceuticals, metal, aerospace, healthcare, cable, entertainment services, infrastructure services, transportation infrastructure, exhaust, life sciences, alternative carriers, infrastructure, system software, manufacturing services, enterprise tech and consumer, enterprise software & application, as well as consumer technologies. The firm considers investment in Asia, Latin America, Japan, Australia, South Korea, Singapore, Hong Kong, Africa, Middle East, Beijing, Shanghai, India, Belgium, France, Ireland, Luxembourg, Monaco, Netherlands, United Kingdom, North America and South America. It seeks to invest between $0.25 million and $900 million per transaction. It invests in companies with enterprise value between $500 million and $5000 million. It makes equity investments up to $300 million through fund of fund investments. It has a three year investment period. The firm prefers to take majority and minority stakes. 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. through its subsidiary South City Projects (Kolkata) Limited offers residential and commercial real estate development services that include development of township, residential towers, malls, IT parks, stadiums, resorts, hospitals, and schools. Blackstone Inc. was founded in 1985 and is based in New York, New York with additional offices across Asia, Europe, North America and Central America.
Rule-based from financial data. Not advice.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $12.4B | - | $3.0B | $4.5B | 34.8% | 13.5% | 8.7% |
| 2024 | $10.9B | - | $2.8B | $3.4B | 33.8% | 56.0% | 99.6% |
| 2023 | $7.0B | - | $1.4B | $3.8B | 20.4% | -1.8% | -20.4% |
| 2022 | $7.1B | - | $1.7B | $6.1B | 22.8% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 7,132.63 | 7,006.65 | 10,930.54 | 12,410.01 |
| Operating Revenue | - | 7,132.63 | 7,006.65 | 10,930.54 | 12,410.01 |
| Operating Expense | - | 3,670.84 | 4,048.94 | 4,471.06 | 5,238.37 |
| Selling General And Administration | - | 1,123.35 | 1,236.29 | 1,381.58 | 1,573.76 |
| Interest Income | - | 271.61 | 516.50 | 411.16 | 416.09 |
| Interest Expense | - | 317.23 | 431.87 | 443.69 | 508.31 |
| Net Interest Income | - | -45.61 | 84.63 | -32.53 | -92.22 |
| Pretax Income | - | 3,461.79 | 2,957.71 | 6,459.48 | 7,171.65 |
| Tax Provision | - | 472.88 | 513.46 | 1,021.67 | 1,125.02 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 2,988.91 | 2,444.25 | 5,437.81 | 6,046.62 |
| Net Income From Continuing And Discontinued Operation | - | 1,747.63 | 1,390.88 | 2,776.51 | 3,019.21 |
| Net Income From Continuing Operation Net Minority Interest | - | 1,747.63 | 1,390.88 | 2,776.51 | 3,019.21 |
| Net Income | - | 1,747.63 | 1,390.88 | 2,776.51 | 3,019.21 |
| Net Income Common Stockholders | - | 1,747.63 | 1,390.88 | 2,776.51 | 3,019.21 |
| Net Income Including Noncontrolling Interests | - | 2,988.91 | 2,444.25 | 5,437.81 | 6,046.62 |
| Normalized Income | - | 1,747.63 | 1,390.88 | 2,776.51 | 3,019.21 |
| Diluted NI Availto Com Stockholders | - | 1,747.63 | 1,390.88 | 2,776.51 | 3,019.21 |
| Basic Average Shares | - | 740.66 | 755.20 | 766.49 | 780.02 |
| Diluted Average Shares | - | 740.94 | 755.42 | 766.65 | 780.22 |
| Reconciled Depreciation | - | 67.10 | 40.08 | 35.97 | 36.02 |
| Minority Interests | - | -1,241.28 | -1,053.37 | -2,661.30 | -3,027.41 |
| Gain On Sale Of Security | - | 6,126.82 | 2,470.86 | 3,880.09 | 4,777.27 |
| General And Administrative Expense | - | 1,123.35 | 1,236.29 | 1,381.58 | 1,573.76 |
| Other Operating Expenses | - | -22.28 | 27.20 | 41.25 | -6.59 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Blackstone Inc.this co. | BX | $144.9B | 47.99↑ premium | 16.72 | 34.8% | - |
| BlackRock, Inc. | BLK | $166.5B | 29.99 | 2.98 | 9.9% | 18.17 |
| The Charles Schwab Corporation | SCHW | $153.0B | 17.29 | 3.59 | 20.7% | - |
| Interactive Brokers Group, Inc. | IBKR | $147.7B | 150.07 | 27.54 | 18.3% | 15.71 |
| S&P Global Inc. | SPGI | $124.4B |
| - |
| - |
| - |
| - |
| 27.81 |
| 4.00 |
| 14.4% |
| 17.70 |
| Chubb Limited | CB | $122.0B | 11.83 | 1.65 | 14.0% | - |
| The Progressive Corporation | PGR | $114.0B | 10.08 | 3.76 | 37.3% | - |
| Capital One Financial Corporation | COF | $114.0B | 52.27 | 1.00 | 1.9% | - |
| The Bank of New York Mellon Corporation | BK | $94.1B | 16.97 | 2.38 | 14.1% | - |
| Peer Median | - | 22.55 | 3.28 | 14.2% | 17.70 | |
Historically, Jul has averaged the highest return (+13.7%); Feb the lowest (-7.1%).
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -7.6%Negative MonthJan 2026: -7.60% | -20.4%Negative MonthFeb 2026: -20.40% | +1.4%Neutral MonthMar 2026: +1.43% | +9.2%Positive MonthApr 2026: +9.21% | -6.9%Negative MonthMay 2026: -6.86% | +0.6%Neutral MonthJun 2026: +0.60% | +8.6%Positive MonthJul 2026: +8.57% | +13.6%*Positive MonthAug 2026: +13.57% | — | — | — | — |
| 2025 | +2.7%Positive MonthJan 2025: +2.72% | -9.0%Negative MonthFeb 2025: -9.01% | -13.3%Negative MonthMar 2025: -13.27% | -5.8%Negative MonthApr 2025: -5.77% | +5.4%Positive MonthMay 2025: +5.35% | +7.8%Positive MonthJun 2025: +7.80% | +15.6%Positive MonthJul 2025: +15.63% | -0.9%Neutral MonthAug 2025: -0.90% | -0.3%Neutral MonthSep 2025: -0.32% | -14.2%Negative MonthOct 2025: -14.17% | -0.2%Neutral MonthNov 2025: -0.15% | +5.3%Positive MonthDec 2025: +5.27% |
| 2024 | -4.9%Negative MonthJan 2024: -4.94% | +2.7%Positive MonthFeb 2024: +2.71% | +2.8%Positive MonthMar 2024: +2.78% | -11.2%Negative MonthApr 2024: -11.24% | +3.3%Positive MonthMay 2024: +3.34% | +2.7%Positive MonthJun 2024: +2.74% | +14.8%Positive MonthJul 2024: +14.82% | +0.1%Neutral MonthAug 2024: +0.15% | +7.6%Positive MonthSep 2024: +7.57% | +9.5%Positive MonthOct 2024: +9.55% | +13.9%Positive MonthNov 2024: +13.91% | -9.8%Negative MonthDec 2024: -9.77% |
| 2023 | +29.3%Positive MonthJan 2023: +29.34% | -5.4%Negative MonthFeb 2023: -5.38% | -3.3%Negative MonthMar 2023: -3.26% | +1.7%Neutral MonthApr 2023: +1.70% | -4.1%Negative MonthMay 2023: -4.13% | +8.6%Positive MonthJun 2023: +8.56% | +12.7%Positive MonthJul 2023: +12.71% | +1.5%Neutral MonthAug 2023: +1.51% | +0.7%Neutral MonthSep 2023: +0.72% | -13.8%Negative MonthOct 2023: -13.80% | +21.7%Positive MonthNov 2023: +21.68% | +16.5%Positive MonthDec 2023: +16.51% |
| 2022 | +2.0%Neutral MonthJan 2022: +1.99% | -3.4%Negative MonthFeb 2022: -3.41% | -0.4%Neutral MonthMar 2022: -0.42% | -20.0%Negative MonthApr 2022: -19.99% | +16.0%Positive MonthMay 2022: +15.97% | -22.5%Negative MonthJun 2022: -22.55% | +11.9%Positive MonthJul 2022: +11.88% | -8.0%Negative MonthAug 2022: -7.97% | -10.9%Negative MonthSep 2022: -10.90% | +8.9%Positive MonthOct 2022: +8.89% | +0.4%Neutral MonthNov 2022: +0.43% | -18.9%Negative MonthDec 2022: -18.94% |
| 2021 | — | — | — | — | +4.7%Positive MonthMay 2021: +4.72% | +4.8%Positive MonthJun 2021: +4.82% | +18.7%Positive MonthJul 2021: +18.66% | +9.1%Positive MonthAug 2021: +9.07% | -7.5%Negative MonthSep 2021: -7.47% | +19.0%Positive MonthOct 2021: +18.98% | +2.2%Positive MonthNov 2021: +2.19% | -8.5%Negative MonthDec 2021: -8.53% |
| Avg±SD |
Each cell is the percentage change in closing price from the end of the prior month to the end of this month. The bottom row shows the average return for that calendar month across the selected years, plus or minus one standard deviation — the range that historically contained roughly two-thirds of outcomes. Past monthly patterns are not a forecast of future returns.
This aggregates every month by calendar position — all Januaries together, all Februaries together, and so on — to show whether a given month has leaned positive or negative historically. ‘Simple’ counts each month as +1 or −1. ‘Weighted’ gives larger moves more influence: +2 above +10%, −2 below −10%. With only 6 years of history for this asset, each month’s score reflects a small number of observations — read it as a historical tendency, not a reliable seasonal pattern.
This tracks a running tally across the asset’s full price history: each month adds or subtracts based on whether it was positive or negative. A rising line means more positive months than negative so far; a flattening or falling line means recent months have leaned negative. This measures historical month-to-month consistency, not expected future performance.
Year-to-date return is calculated by dividing each day’s closing price by the price on January 1st of that year (or the asset’s first available price if it began trading mid-year). The custom average line shows the mean YTD return at each calendar day across the selected years. The standard deviation band shows the range within which returns have historically fallen — at 1 SD, roughly two-thirds of years; at 2 SD, roughly 95%. Past year-to-date patterns do not predict future returns. The average and standard deviation band are computed from the year set chosen in “Average from”, which is independent of which year lines are displayed. The current in-progress year is excluded from these calculations, since a partial year is not comparable to complete ones. Election-cycle groupings follow the US presidential calendar and are offered only for US and crypto assets.