Blackstone BX Ratios & Valuation
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Net margin | 20.7%-0.2pp | 20.9%+0.3pp | 20.6%-0.3pp | 20.8%+1.0pp | 19.8%-1.2pp | |
| Returns | ||||||
| Return on equity | 37.4%+1.6pp | 35.8%+0.6pp | 35.2%-2.5pp | 37.7%+3.6pp | 34.1%-2.9pp | |
| Return on invested capital | 34.1%+0.1pp | 34.1%+0.9pp | 33.1%-1.9pp | 35%+3.6pp | 31.4%-1.8pp | |
| Efficiency | ||||||
| Asset turnover | 0.3×0.0× | 0.3×0.0× | 0.3×0.0× | 0.3×0.0× | 0.3×0.0× | |
| Leverage | ||||||
| Debt-to-equity | 1.7×+0.2× | 1.6×0.0× | 1.6×0.0× | 1.6×-0.2× | 1.7×+0.2× | |
| Net debt / EBITDA | 1.5×+0.1× | 1.4×-0.1× | 1.5×0.0× | 1.4×-0.2× | 1.6×+0.1× | |
| Per Share | ||||||
| Book value per share | $10.65-4.1% | $11.11+3.6% | $10.72+0.4% | $10.68+3.4% | $10.33-3.6% | |
| Valuation | ||||||
| Market capitalization | $89.31B-25.1% | $119.21B-10.6% | $133.37B+21.1% | $110.16B+2.9% | $107.1B-18.2% | |
| Price / earnings | 29.2×-10.2× | 39.5×-9.8× | 49.3×+10.8× | 38.5×-3.6× | 42.1×-5.0× | |
| Price / sales | 6×-2.2× | 8.2×-1.9× | 10.1×+2.1× | 8×-0.3× | 8.3×-1.5× | |
| Price / book | 10.7×-3.1× | 13.8×-2.1× | 15.9×+2.7× | 13.2×-0.2× | 13.4×-2.5× | |
| EV / EBITDA | 13×-3.8× | 16.8×-4.0× | 20.8×+4.2× | 16.6×-1.4× | 18×-2.4× | |
| Dividend yield | 6.8%+1.8pp | 5%+0.9pp | 4.1%-0.6pp | 4.8%0.0pp | 4.8%+1.4pp |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- Where do Blackstone's ratios come from?
- Every ratio is computed from Blackstone's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.
