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Blackstone BX Debt-to-equity

Debt-to-equity at other companies

Prologis logo
PrologisPLD
0.7×+0.1×
Ares Management Corporation logo
Ares Management CorporationARES
0.2×0.0×
The Carlyle Group logo
The Carlyle GroupCG
0.1×0.0×
Apollo Global Management logo
Apollo Global ManagementAPO
0.7×+0.1×
Blackrock logo
BlackrockBLK
0.3×0.0×
Blackstone Mortgage Trust logo
Blackstone Mortgage TrustBXMT
4.9×+0.3×

Other financials

Income statement

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Revenue$3.6B+10.0%
Net income$649.7M+5.7%
EPS (diluted)$0.83+3.8%

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$152.7B-16.6%
Enterprise value$164.28B-14.2%
P/E50×-22.0×
P/S10.3×-3.9×

Profitability

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Net margin20.7%+0.8pp

Returns & leverage

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Return on equity37.4%+3.3pp

Where this comes from

Calculated from Blackstone’s reported figures.

Based on the most recent quarter.

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 debt-to-equity?
Blackstone (BX) reported debt-to-equity of 1.7× in Q1 2026.
How has Blackstone's debt-to-equity changed year-over-year?
Blackstone's debt-to-equity decreased by 1.6% year-over-year, from 1.7× to 1.7×.
What is the long-term trend for Blackstone's debt-to-equity?
Over 4 years (2021 to 2025), Blackstone's debt-to-equity has grown at a 16.5% compound annual growth rate (CAGR), from 3.5× to 6.4×.
What does debt-to-equity mean?
How much debt the company carries for every dollar of shareholder equity.
How do you interpret debt-to-equity?
Lower is generally safer, but moderate leverage can boost returns. Read in the context of cash-flow stability — a utility tolerates more debt than a cyclical. Negative equity makes the ratio meaningless and it is suppressed there.
How does debt-to-equity compare across companies?
Comparable within an industry; capital structures differ sharply across sectors. Not meaningful for banks.