Company Overview
Blackstone Inc is a US-based financial services company specializing in alternative asset management. It manages investments across private equity, real estate, credit, and hedge fund solutions. The firm generates revenue primarily from management and performance fees on client capital. It has approximately 1.19 billion shares outstanding and a market capitalization of about USD 136.9 billion.
Analysis of recent data
FundamentalsIn the latest annual report (reported USD figures), Blackstone recorded revenue of USD 9.05 billion, an increase of about 11% year over year. EBIT was negative at USD 270.9 million, while net income reached USD 6.05 billion, showing strong bottom-line profitability despite uneven operating results.
Cash stood at USD 2.63 billion, and capital expenditure totaled USD 115.7 million. The free-cash-flow proxy excluding working capital was negative USD 293.7 million, indicating limited internal funding capacity. Total debt was not provided, leaving leverage assessment incomplete.
Key metrics show a gross margin of 83.07%, operating margin of 46.74%, and net margin of 20.89%. Return on equity of 36.17% highlights strong profitability, while a beta of 1.77 suggests higher market sensitivity.
Valuation
DCF / MultiplesAt a current share price of USD 112, the stock trades between the DCF fair value range of 79.91 (bear), 127.55 (base), and 185.09 (bull). The valuation implies moderate confidence in sustained earnings power.
With a trailing P/E of 45.34 and net margin of 20.89%, the market appears to price in continued profitability. The base-case fair value exceeds the current price, suggesting potential upside if performance stabilizes.
Conclusion
TakeawayBlackstone’s liquidity position provides a meaningful cushion against volatility. Missing debt data makes it harder to judge overall leverage. Profitability remains strong, but cash generation is uneven. Investors may wait for steadier free cash flow before revaluing the shares.