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Blackstone BX Real Estate — Base Management Fees

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Other financials

Income statement

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Revenue$3.6B+10.0%
Net income$649.7M+5.7%
EPS (diluted)$0.83+3.7%

Balance sheet

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Cash & equivalents$2.7B-20.3%
Total debt$14.3B+3.2%
Total equity$8.4B+4.9%
Total assets$48.3B+6.8%

Cash flow

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Operating cash flow$991.0M-10.7%
CapEx$33.4M+14.1%
Free cash flow$957.6M-11.3%

Valuation

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Market cap$103.99B-24.9%
Enterprise value$115.57B-22.4%
P/E34.1×-14.3×
P/S-3.0×

Profitability

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Net margin20.7%+0.8pp
FCF margin29.9%+2.1pp

Returns & leverage

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Return on equity37.4%+3.3pp
Debt / equity1.7×0.0×

Where this comes from

Reported directly by Blackstone in its filing.

Tagged under the XBRL concept bx:BaseManagementFees.

The official record: Blackstone’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Blackstone's real estate — base management fees?
Blackstone (BX) reported real estate — base management fees of $636.05M in Q1 2026.
How has Blackstone's real estate — base management fees changed year-over-year?
Blackstone's real estate — base management fees decreased by 4.3% year-over-year, from $664.6M to $636.05M.
What is the long-term trend for Blackstone's real estate — base management fees?
Over 4 years (2021 to 2025), Blackstone's real estate — base management fees has grown at a 8.8% compound annual growth rate (CAGR), from $1.9B to $2.65B.
What does real estate — base management fees mean?
Represents the recurring revenue generated from charging a percentage of assets under management in the real estate segment. These fees are typically stable and provide the foundational cash flow for the business. This metric is a key indicator of the scale and stability of the segment's fee-earning assets.