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Blackstone Inc.
NYSE: BX Financials AMC 🔎 Screen
S&P 500
$111.8B
Market Cap
39.8
P/E
1.19
PEG
19.6%
ROCE
29.2%
ROE
0.61
D/E
50.2%
OPM
-21.0%
% from 52W High
56
α RS
🔍 BX is showing a high-conviction setup because it matches 12 of 37 tracked screener presets, Sector RRG has Financials in the Improving quadrant with the trail still strengthening, and an ECS of 79.5 last quarter. Net: Broad signal stack, not a recommendation. ? Conviction RRG ECS
Sources
Conviction 12/37 · Financials in Improving quadrant · ECS 79.5
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🌏 Global Investor Returns
Currency-adjusted total returns for BX including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
Poor
By Category
📊 Sector Averages
About

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.

Key Ratios Snapshot
📈 Growth Pattern
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⭐ Superinvestors Holding BX
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Manager Shares Value % of Fund Period
Jim Simons Renaissance Technologies LLC 1.43M $164.6M 0.26% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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Good quarter Investor Presentation One-Pager? Q2 2026
Total Revenue
$5.0B
+36% YoY
Distributable Earnings
$2.0B
+26% YoY
Fee-Related Earnings
$1.8B
+22% YoY
GAAP Net Income
$2.4B
Not disclosed
What Went Right
  • Distributable earnings rose 26% YoY to $2.0B and fee-related earnings grew 22% to $1.8B.
  • Q2 inflows were nearly $70B, with LTM inflows above $260B; AUM hit a record $1.35T, up 11% YoY.
  • AI/data-center platform reached $185B total value, up from $130B at the start of the year, and three IPOs were completed since May.
What to Watch
  • BCRED redemption requests exceeded the 5% monthly cap, with ~50% fulfilled and $1.2B of net outflows in Q2.
  • Net realizations are expected to decelerate sequentially in Q3 before a robust Q4 and 2027.
  • Management flagged possible AI 'excessive exuberance' and a slower M&A environment for non-AI white-collar services and professional software.
Management Guidance
  • Q3 net realizations expected to decelerate sequentially; Q4 and 2027 expected to be robust.
  • Base management fee growth in Q3 expected to be similar to Q2, with a return to double-digit growth in 2027.
  • New products BXHF and the Wellington/Vanguard WVB funds are launching, with inflows expected to begin later in Q3.
Investor Lens
The thesis is stronger after this call: AI is now driving measurable earnings, fundraising, and performance across nearly every segment, with $70B of quarterly inflows and a $185B data-center pipeline. Management has increasing visibility on realizations through IPOs and accrued performance revenue of $7.5B. The main dampener is BCRED's continued redemption pressure and a soft Q3 realization backdrop, but the multi-channel growth engines make the 2027 setup compelling.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Strong AI-driven quarter: distributable earnings up 26% and inflows near $70B.
Revenue
Total revenues were $5.0B in Q2, up about 36% YoY on a GAAP basis. Fee revenues rose 22% to $3.0B, with record transaction and advisory fees of $321M, nearly double the prior-year quarter.
Profitability
GAAP net income was $2.4B. Distributable earnings increased 26% YoY to $2.0B, or $1.52 per share, and a dividend of $1.29 per share was declared.
Margins
Operating margin was not explicitly disclosed, but fee-related earnings grew 22% to $1.8B while fee-related performance revenues jumped 68% to $793M, showing strong operating leverage.
Balance Sheet
No cash, debt or CapEx figures were discussed on the call. The firm remains capital-light, with AUM reaching a record $1.35T.
Key Risks
Management cited potential excessive exuberance in AI, elevated geopolitical volatility, and slower realizations in non-AI-related sectors. BCRED redemptions remain above the 5% cap, and rate-sensitive commercial real estate recovery continues to be uneven.
Outlook
Q3 net realizations are expected to slow sequentially, but management expects a robust Q4 and 2027. Base fee growth should accelerate to double digits next year after a similar Q3 growth rate to Q2.
Generated by AI · Q2 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-23
Q2 2026 saw distributable earnings rise 26% YoY to $2B, with AUM reaching a record $1.35T, driven by strong AI-related investments and robust inflows across all channels. Fee-related earnings and net realizations posted double-digit growth, and the firm expects continued momentum in fundraising, management fees, and realizations into 2027.
Q1 2026 Q1 2026 2026-04-23
First quarter results showed strong year-over-year growth in earnings, AUM, and fundraising, led by infrastructure, AI, and credit strategies. Despite market volatility and negative sentiment in private credit, institutional and private wealth channels continued to expand.
Q4 2025 Q4 2025 2026-01-29
Record distributable earnings and AUM growth were driven by strong inflows, robust investment performance, and significant fundraising across all channels. Infrastructure, credit, and private wealth segments led performance, while management expects continued momentum and fee growth into 2026 and 2027.
Q3 2025 Q3 2025 2025-10-23
Distributable earnings surged 50% year-over-year to $1.9B, with AUM reaching a record $1.24T and strong inflows across all channels. Robust fundraising, improved capital markets activity, and sector leadership in private credit, infrastructure, and real estate underpin a positive outlook.
Q2 2025 Q2 2025 2025-07-24
Q2 2025 saw distributable earnings and net income of $1.6B, with AUM up 13% to $1.2T and strong growth in private credit, wealth, and infrastructure. Robust investment performance and a record IPO pipeline support a positive outlook, despite ongoing market uncertainties.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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