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Blackstone BX Real Estate — Goodwill

Other segment segments

Private Equity
$870M0.0%
Credit And Insurance
$366.7M0.0%
Multi Asset Investing
$231.8M

Similar metrics at other companies

Restoration Hardware logo
RHReal Estate — Goodwill
$0
RDI
RDIBusiness Segment Real Estate — Goodwill
$5.22M0.0%
Rithm Capital logo
RITMCommercial Real Estate — Goodwill
$0
CBRE Group logo
CBREReal Estate Investments — Goodwill, Gross
$420M+1.2%
CoStar Group logo
CSGPCommercial Real Estate — Goodwill
$1.96B-43.0%
Altisource Portfolio Solutions logo
ASPSServicer and Real Estate — Goodwill
$30.68M0.0%

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 us-gaap:Goodwill.

The official record: Blackstone’s 10-K, filed February 27, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Blackstone's real estate — goodwill?
Blackstone (BX) reported real estate — goodwill of $421.7M in Q4 2025.
How has Blackstone's real estate — goodwill changed year-over-year?
Blackstone's real estate — goodwill decreased by 0.0% year-over-year, from $421.7M to $421.7M.
What does real estate — goodwill mean?
This metric represents the intangible asset value recorded when the Real Estate segment acquires another business for a price exceeding the fair market value of its identifiable net assets. It reflects the premium paid for synergies, brand reputation, and market positioning within the real estate investment management sector. This value is subject to periodic impairment testing to ensure it remains supported by the segment's future cash-generating capabilities.