BX
Blackstone Inc.
BX's fundamentals are strong and it looks cheap: trading at 26x earnings, below its usual 34x. Analysts expect strong earnings growth, though they disagree widely on how much.
BX Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| N/A | |
| N/A |
BX's revenue and profitability are currently healthy. Free cash flow and net leverage aren't meaningful measures for financial services companies like BX.
BX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 17x | $77.47 | -35% |
| Forward | 18x | $119 | — |
| Current | 26x | $119 | — |
| Fair | 34x | $151 | +27% |
| Expensive | 58x | $259 | +118% |
Historical ranges are pointers, not guarantees.
BX's PE is in its fair range at 26x. If earnings grow as analysts expect, today's price would be 18x next year's earnings, in its cheap range.
BX Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Stable | |
| Limited | |
| Low |
Analysts expect strong earnings and revenue growth for BX, with profitability holding steady. However, they disagree widely on these estimates.
BX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $6.61 | +47% |
| Q3 2026 | $4.49 | +29% |
| Q2 2026 | $4.46 | +20% |
| Q1 2026 | $3.90 | +18% |
| Q4 2025 | $3.87 | +6.9% |
| Q3 2025 | $3.49 | +20% |
| Q2 2025 | $3.71 | +41% |
| Q1 2025 | $3.31 | +17% |
| Q4 2024 | $3.62 | +97% |
BX's earnings per share have fallen from their peak: $4.49 over the past year, against $8.13 in late 2021.
BX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $3.1B | -0.8% |
| Q2 2026 | $5B | +36% |
| Q1 2026 | $3.6B | +10% |
| Q4 2025 | $4.4B | +41% |
| Q3 2025 | $3.1B | -16% |
| Q2 2025 | $3.7B | +33% |
| Q1 2025 | $3.3B | -11% |
| Q4 2024 | $3.1B | +140% |
BX's revenue is growing: $3.1B last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 47% | +3.6 points |
| Q2 2026 | 53% | +5 points |
| Q1 2026 | 37% | -4.9 points |
| Q4 2025 | 51% | -0.1 points |
| Q3 2025 | 43% | -4.9 points |
| Q2 2025 | 48% | +6.3 points |
| Q1 2025 | 42% | -9 points |
| Q4 2024 | 51% | +25 points |
BX's operating margin was 47% last quarter, up 3.6 points from the same quarter a year ago.
BX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $1.9B | +22% |
| Q2 2026 | $1.9B | +125% |
| Q1 2026 | $957.6M | -11% |
| Q4 2025 | $1B | +599% |
| Q3 2025 | $1.6B | +31% |
| Q1 2025 | $1.1B | +17% |
| Q4 2024 | $149.5M | -83% |
| Q3 2024 | $1.2B | +18% |
BX's free cash flow was $5.8B over the past year, up 60% from the year before. Free cash flow isn't a meaningful measure for financial services companies like BX.
BX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | +82.9K shares |
| 1 year | +2.2% | +17.3M shares |
| 3 years | +5.5% | +41.9M shares |
| 5 years | +11% | +77.5M shares |
| Available history | +18% | +124M shares |
BX has 800M diluted shares, up 2.2% from a year ago.
BX Net Leverage
BX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.4 | Neutral |
| Stochastic | 29.9 | Neutral |
BX's weekly RSI is 45 (neutral) and its Stochastic is 30 (neutral).
BX PE vs Financial Services Sector
| Metric | BX | Sector median | Relative |
|---|---|---|---|
| PE | 26x | 13x | 103% above |
| PE % | 35 | 63 | 28 pts below |
BX is trading at 26x earnings, a 103% premium to the Financial Services sector's median of 13x.
BX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $115.7 | 2.5% above |
| 20 week MA | $125.6 | 5.6% below |
| 50 week MA | $127.7 | 7.2% below |
| 100 week MA | $142.1 | 17% below |
| 200 week MA | $130.3 | 9% below |
BX has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 9% below its 200-week average.
BX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $56.1 | $65.0 | +16% |
| 2021 | $65.0 | $135.0 | +108% |
| 2022 | $135.0 | $74.9 | -45% |
| 2023 | $74.9 | $130.9 | +75% |
| 2024 | $130.9 | $174.0 | +33% |
| 2025 | $174.0 | $155.4 | -11% |
| 2026 YTD | $155.4 | $118.5 | -24% |
BX's yearly returns have swung widely, from +108% in 2021 to −45% in 2022. It's down 24% so far in 2026.