BX financial statements

The full income statement, balance sheet, and cash-flow statement for Blackstone Inc. (BX), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-03 714.6M2024-09 722.0M2024-12 729.4M2025-03 729.6M2025-06 737.1M2025-09 738.5M2025-12 742.2M2026-03 742.9M2026-06 750.6M+5.0% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	14.5B YoY+9.2%	13.2B YoY+64.9%	8.02B YoY-5.8%	8.52B YoY-62.3%	22.6B YoY+270.0%
Selling, general & administrative	1.52B YoY+11.9%	1.36B YoY+21.9%	1.12B YoY+2.3%	1.09B YoY+19.0%	918M YoY+29.0%
General & administrative	1.52B YoY+11.9%	1.36B YoY+21.9%	1.12B YoY+2.3%	1.09B YoY+19.0%	918M YoY+29.0%
Amortization of intangibles	36.0M YoY+0.2%	36.0M YoY-10.3%	40.1M YoY-40.3%	67.1M YoY-10.4%	74.9M YoY+5.4%
Interest expense	508M YoY+14.6%	444M YoY+2.7%	432M YoY+36.1%	317M YoY+60.0%	198M YoY+19.3%
Other non-operating income	424M YoY+768.2%	48.8M YoY+158.1%	-84.0M YoY-1.4%	-82.9M YoY-118.1%	459M YoY+9578.7%
Equity-method income	801M YoY+32.3%	605M YoY+146.3%	246M YoY-15.9%	292M YoY-84.6%	1.90B YoY+493.4%
Pre-tax income	7.17B YoY+11.0%	6.46B YoY+118.4%	2.96B YoY-14.6%	3.46B YoY-74.5%	13.6B YoY+418.0%
Income tax	1.13B YoY+10.1%	1.02B YoY+99.0%	513M YoY+8.6%	473M YoY-60.1%	1.18B YoY+232.7%
Net income	3.02B YoY+8.7%	2.78B YoY+99.6%	1.39B YoY-20.4%	1.75B YoY-70.2%	5.86B YoY+460.3%
	$3.87 YoY+6.9%	$3.62 YoY+96.7%	$1.84 YoY-22.0%	$2.36 YoY-71.0%	$8.13 YoY+442.0%
EPS (basic)	$3.87 YoY+6.9%	$3.62 YoY+96.7%	$1.84 YoY-22.0%	$2.36 YoY-71.0%	$8.14 YoY+442.7%
	780M YoY+1.8%	766M YoY+1.5%	755M YoY+2.0%	741M YoY+2.9%	720M YoY+3.3%
	780M YoY+1.8%	767M YoY+1.5%	755M YoY+2.0%	741M YoY+2.9%	720M YoY+3.3%
Dividends per share	$4.69 YoY+35.9%	$3.45 YoY+3.9%	$3.32 YoY-32.8%	$4.94 YoY+38.4%	$3.57 YoY+86.9%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Cash & equivalents	2.63B YoY+33.4%	1.97B YoY-33.3%	2.96B YoY-30.5%	4.25B YoY+100.6%	2.12B YoY+6.0%
	47.7B YoY+9.8%	43.5B YoY+7.9%	40.3B YoY-5.3%	42.5B YoY+3.2%	41.2B YoY+56.8%
Property, plant & equipment	521M YoY+2.9%	506M YoY-6.7%	543M YoY+31.8%	412M YoY+68.3%	245M YoY+5.5%
Operating lease right-of-use	757M YoY-9.7%	839M YoY-0.3%	841M YoY-6.2%	897M YoY+13.7%	789M YoY+49.7%
Goodwill	1.89B YoY+0.0%	1.89B YoY+0.0%	1.89B YoY+0.0%	1.89B YoY+0.0%	1.89B YoY-0.6%
Intangible assets	131M YoY-20.5%	165M YoY-17.9%	201M YoY-7.4%	217M YoY-23.6%	284M YoY-18.3%
Deferred tax assets	2.06B YoY+2.6%	2.00B YoY-14.0%	2.33B YoY+13.0%	2.06B YoY+30.4%	1.58B YoY+27.3%
	25.8B YoY+7.7%	24.0B YoY+7.9%	22.2B YoY-2.8%	22.8B YoY+17.2%	19.5B YoY+66.9%
Long-term debt	12.6B YoY+9.7%	11.5B YoY-1.3%	11.6B YoY-7.1%	12.5B YoY+59.0%	7.86B YoY+37.0%
Operating lease liability (total)	861M YoY-10.8%	966M YoY-2.4%	990M YoY-3.1%	1.02B YoY+12.5%	908M YoY+46.3%
	8.67B YoY+5.5%	8.21B YoY+20.5%	6.82B YoY-11.0%	7.66B YoY-18.8%	9.42B YoY+41.7%
Common stock	7.00K YoY+0.0%	7.00K YoY+0.0%	7.00K YoY+0.0%	7.00K YoY+0.0%	7.00K YoY+0.0%
Additional paid-in capital	8.48B YoY+13.9%	7.44B YoY+20.6%	6.18B YoY+4.0%	5.94B YoY+2.4%	5.79B YoY-8.5%
Retained earnings	192M YoY-76.3%	808M YoY+22.3%	661M YoY-62.2%	1.75B YoY-52.1%	3.65B YoY+986.4%
Accumulated other comprehensive income	-6.01M YoY+85.1%	-40.3M YoY-110.8%	-19.1M YoY+30.4%	-27.5M YoY-40.0%	-19.6M YoY-24.0%
Total equity incl. non-controlling	20.5B YoY+9.7%	18.7B YoY+10.6%	16.9B YoY-6.0%	18.0B YoY-17.0%	21.6B YoY+49.0%
Total liabilities & equity	47.7B YoY+9.8%	43.5B YoY+7.9%	40.3B YoY-5.3%	42.5B YoY+3.2%	41.2B YoY+56.8%
	749M YoY+2.3%	732M YoY+1.7%	719M YoY+1.3%	710M YoY+0.8%	704M YoY+3.0%
	749M YoY+2.3%	732M YoY+1.7%	719M YoY+1.3%	710M YoY+0.8%	704M YoY+3.0%
	742M YoY+1.8%	729M YoY+2.1%	715M YoY+1.2%	706M YoY+0.9%	700M YoY+2.4%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	4.66B YoY+33.9%	3.48B YoY-14.2%	4.06B YoY-36.0%	6.34B YoY+59.0%	3.99B YoY+105.9%
Depreciation & amortization	134M YoY-0.6%	135M YoY+0.4%	134M YoY-1.6%	136M YoY+7.3%	127M YoY+19.7%
Intangible amortization	36.0M YoY+0.2%	36.0M YoY-10.3%	40.1M YoY-40.3%	67.1M YoY-10.4%	74.9M YoY+5.4%
Share-based compensation	1.45B YoY+23.7%	1.17B YoY+18.3%	988M YoY+16.7%	846M YoY+32.8%	637M YoY+45.4%
Deferred income taxes	441M YoY+26.9%	348M YoY+334.4%	-148M YoY+58.9%	-361M YoY-177.8%	465M YoY+430.9%
Change in receivables	212M YoY+170.7%	78.3M YoY+132.9%	-238M YoY-33.6%	-178M YoY+38.3%	-288M YoY-311.6%
	-116M YoY-88.4%	-61.4M YoY+73.3%	-230M YoY+2.5%	-235M YoY-266.2%	-64.3M YoY+61.4%
Capital expenditure	116M YoY+88.4%	61.4M YoY-72.6%	224M YoY-4.8%	235M YoY+266.2%	64.3M YoY-42.4%
Free cash flow	4.55B YoY+33.0%	3.42B YoY-10.8%	3.83B YoY-37.2%	6.10B YoY+55.6%	3.92B YoY+115.0%
Acquisitions	0.00	0.00 YoY-100.0%	5.42M	0.00	0.00 YoY-100.0%
	-3.88B YoY+13.8%	-4.50B YoY+10.9%	-5.05B YoY-33.2%	-3.79B YoY-0.5%	-3.78B YoY-68.3%
Long-term debt issued	2.81B YoY+279.6%	741M YoY+49.7%	495M YoY-85.9%	3.52B YoY+58.4%	2.22B YoY+150.1%
Long-term debt repaid	1.81B YoY+1656.5%	103M YoY-79.5%	502M YoY+79.0%	281M	0.00 YoY-100.0%
Common stock issued	0.00	0.00	0.00	0.00	0.00
Common stock repurchased	0.00	0.00	0.00	0.00	0.00
Dividends paid	6.01B YoY+35.9%	4.42B YoY+3.6%	4.27B YoY-34.5%	6.52B YoY+41.6%	4.60B YoY+92.9%
FX effect on cash	9.84M YoY+167.5%	-14.6M YoY-392.0%	4.99M YoY+140.5%	-12.3M YoY-25.6%	-9.81M YoY-162.4%
Net change in cash	678M YoY+161.9%	-1.10B YoY+10.3%	-1.22B YoY-153.3%	2.29B YoY+1595.8%	135M YoY+129.5%
Interest paid	464M YoY+13.8%	407M YoY+1.7%	400M YoY+52.9%	262M YoY+34.9%	194M YoY+9.9%
Income taxes paid	563M YoY-13.0%	647M YoY+13.6%	569M YoY-16.7%	683M YoY-2.5%	701M YoY+235.0%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	114B YoY-9.0%	126B YoY+35.2%	93.0B YoY+78.7%	52.1B YoY-42.5%	90.6B YoY+104.5%
P/E	37.9× YoY-16.3%	45.3× YoY-12.5%	51.8× YoY+157.4%	20.1× YoY+30.0%	15.5× YoY-63.5%
P/S	7.9× YoY-16.7%	9.5× YoY-13.7%	11.0× YoY+166.2%	4.1× YoY+3.1%	4.0× YoY-44.7%
P/B	13.2× YoY-13.8%	15.3× YoY+17.4%	13.0× YoY+90.0%	6.9× YoY-28.6%	9.6× YoY+44.3%
P/FCF	25.2× YoY-31.6%	36.8× YoY+43.7%	25.6× YoY+126.1%	11.3× YoY-51.0%	23.1× YoY-4.9%
	2.6% YoY+19.5%	2.2% YoY+14.3%	1.9% YoY-61.1%	5.0% YoY-23.1%	6.5% YoY+174.0%
	4.0% YoY+46.2%	2.7% YoY-30.4%	3.9% YoY-55.8%	8.8% YoY+104.2%	4.3% YoY+5.1%
	3.0% YoY+52.1%	2.0% YoY-21.1%	2.5% YoY-61.9%	6.7% YoY+141.3%	2.8% YoY-6.4%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: BX's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all BX filings on SEC EDGAR → Not investment advice.