Blackstone (NYSE:BX) Issues Quarterly Earnings Results

Blackstone (NYSE:BX) posted its quarterly earnings results on Thursday. The asset manager reported $1.75 EPS for the quarter, topping the consensus estimate of $1.54 by $0.21, FiscalAI reports. Blackstone had a return on equity of 22.30% and a net margin of 20.56%.The business had revenue of $4.36 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the previous year, the firm earned $1.69 EPS. The company’s quarterly revenue was up 41.4% compared to the same quarter last year.

Here are the key takeaways from Blackstone’s conference call:

• Blackstone reported record results with Q4 distributable earnings of $1.75 per share and full-year DE of $5.57 per share ( ~$7.1B), while AUM rose to about $1.275 trillion.
• Fundraising and inflows were very strong — roughly $71B in Q4 and ~$240B for 2025, with private wealth up 53% to $43B — bolstering fee-generating AUM and future revenue.
• Investment performance and deployment accelerated: the firm invested $138B in 2025, infrastructure returned ~24% for the year, BXMA returned ~13%, and Blackstone holds ~ $200B of dry powder to deploy into AI, data centers, electrification and other thematic opportunities.
• Capital markets and realization momentum picked up — IPO and M&A activity accelerated (highlighted by the successful Medline IPO), net realizations rose 59% YoY in Q4 to $957M, and the firm sees a deep IPO pipeline that should support future monetizations.
• Real estate remains the laggard — aggregate private real estate values are still down vs. the S&P (about 16% since the rate cycle began) with limited appreciation in 2025 and pockets of weakness (e.g., life-sciences office, U.K. student housing) that could constrain near-term returns.

Blackstone Stock Down 2.7%

Blackstone stock opened at $142.86 on Friday. The firm has a market capitalization of $105.49 billion, a P/E ratio of 40.82, a P/E/G ratio of 1.03 and a beta of 1.75. The stock’s fifty day simple moving average is $153.03 and its 200-day simple moving average is $160.96. Blackstone has a twelve month low of $115.66 and a twelve month high of $190.09. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.60.

Key Stories Impacting Blackstone

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Q4 beats — Blackstone topped estimates on both revenue ($4.36B) and EPS ($1.75), driven by dealmaking and fee strength; management highlighted record distributable earnings on the call, supporting the firm’s earnings quality. Blackstone Inc (BX) Q4 2025 Earnings Call Highlights
• Positive Sentiment: Record AUM and inflows — AUM reached about $1.27T with roughly $71.5B of inflows in the quarter, boosting management fees and long-term revenue visibility. That inflow momentum underpins future fee growth. BX’s Q4 Earnings Beat as AUM Touches Record High on Solid Inflows
• Positive Sentiment: Data-center & infrastructure tailwinds — Management cited growth in the data-center business and infrastructure strategy as key contributors to the “blowout” quarter, signaling durable growth areas. Blackstone’s Private Equity and Real Estate Are Bouncing Back. Private Credit Is Fine, Too.
• Neutral Sentiment: Macro/tech theme — Executives pointed to AI development as a major economic growth driver and are positioning capital accordingly; positive for strategy but with execution/timing uncertainty. AI development is biggest economic growth driver, Blackstone says
• Neutral Sentiment: Potential opportunistic deals — Reports that Blackstone is weighing deeper investments in data-center opportunities and a possible New World Development move signal deal flow upside but also execution and geopolitical considerations. Blackstone mulls deeper bet on Oracle’s Michigan data center – report
• Negative Sentiment: Costs and segment softness — Some segments showed weaker revenue and operating expenses rose, which could pressure margins if inflows or fee rates slow. Blackstone Inc. (BX) Reports Q4 Earnings: What Key Metrics Have to Say
• Negative Sentiment: Analyst target trim — HSBC trimmed its price target (hold), which can amplify post-earnings selling and short-term headwinds for the shares. HSBC adjusts price target on Blackstone

Insider Activity

In other news, Director Ruth Porat acquired 324 shares of the company’s stock in a transaction on Monday, November 10th. The shares were bought at an average price of $146.92 per share, with a total value of $47,602.08. Following the completion of the acquisition, the director owned 39,077 shares in the company, valued at $5,741,192.84. This trade represents a 0.84% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Holdings Iv Gp Mana Blackstone bought 385,208 shares of the stock in a transaction dated Friday, November 21st. The shares were acquired at an average price of $25.96 per share, for a total transaction of $9,999,999.68. Following the completion of the transaction, the insider owned 16,332,883 shares of the company’s stock, valued at approximately $424,001,642.68. The trade was a 2.42% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have purchased 783,978 shares of company stock worth $22,058,454. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Blackstone

A number of hedge funds have recently added to or reduced their stakes in the company. Strive Asset Management LLC acquired a new stake in Blackstone in the third quarter valued at $30,000. Kelleher Financial Advisors acquired a new position in shares of Blackstone in the third quarter valued at approximately $34,000. JPL Wealth Management LLC purchased a new position in shares of Blackstone during the third quarter valued at approximately $49,000. Measured Wealth Private Client Group LLC purchased a new stake in Blackstone in the 3rd quarter worth approximately $103,000. Finally, Valley Financial Group Inc. purchased a new position in shares of Blackstone during the 3rd quarter worth $205,000. Institutional investors and hedge funds own 70.00% of the company’s stock.

Analyst Ratings Changes

BX has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on Blackstone from $164.00 to $185.00 and gave the company a “buy” rating in a report on Wednesday, December 17th. Barclays lowered their price target on Blackstone from $172.00 to $171.00 and set an “equal weight” rating for the company in a report on Friday, January 9th. Evercore ISI decreased their target price on shares of Blackstone from $197.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 22nd. UBS Group reduced their price target on shares of Blackstone from $175.00 to $172.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 13th. Finally, Morgan Stanley lifted their target price on shares of Blackstone from $200.00 to $215.00 and gave the company an “overweight” rating in a report on Tuesday, October 21st. Nine analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $177.05.

Blackstone Company Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.