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.

Blackstone BX Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	Q1 '26	Q4 '25	Q3 '25	Q2 '25	Q1 '25
Profitability
Net margin	20.7%+0.8pp	20.9%-0.1pp	20.6%+1.1pp	20.8%+1.5pp	19.8%-1.0pp
EBITDA margin	52.4%+1.5pp	53.4%+0.9pp	52.4%+4.1pp	52.8%+5.9pp	50.8%+1.9pp
Free cash flow margin	29.9%+2.1pp	31.5%+5.6pp	27.7%-8.4pp	23.9%-14.5pp	27.9%-15.4pp
Returns
Return on equity	37.4%+3.3pp	35.8%-1.2pp	35.2%+3.7pp	37.7%+9.3pp	34.1%+3.4pp
Return on assets	6.5%+0.5pp	6.6%0.0pp	6.1%+0.8pp	6.7%+1.8pp	6%+0.7pp
Return on invested capital	34.1%+2.7pp	34.1%+0.8pp	33.1%+6.1pp	35%+11.5pp	31.4%+6.5pp
Efficiency
Asset turnover	0.3×0.0×	0.3×0.0×	0.3×0.0×	0.3×+0.1×	0.3×0.0×
Leverage
Debt-to-equity	1.7×0.0×	1.6×0.0×	1.6×-0.2×	1.6×-0.2×	1.7×0.0×
Debt-to-assets	0.3×0.0×	0.3×0.0×	0.3×0.0×	0.3×0.0×	0.3×0.0×
Net debt / EBITDA	1.5×-0.1×	1.4×-0.2×	1.5×-0.2×	1.4×-0.5×	1.6×-0.2×
Interest coverage	14.6×+0.3×	15.1×-0.4×	13.9×+1.3×	15×+4.0×	14.3×+2.8×
Per Share
Book value per share	$10.65+3.1%	$11.11+3.7%	$10.72+17.6%	$10.68+20.2%	$10.33+12.9%
Valuation
Market capitalization	$89.31B-16.6%	$119.21B-8.9%	$133.37B+13.7%	$110.16B+18.4%	$107.1B+8.2%
Enterprise value	$100.89B-14.2%	$129.79B-8.3%	$143.6B+13.3%	$120.67B+17.8%	$117.55B+8.7%
Price / earnings	29.2×-12.9×	39.5×-7.7×	49.3×-3.5×	38.5×-8.2×	42.1×-3.9×
Price / sales	6×-2.3×	8.2×-1.6×	10.1×-0.1×	8×-1.0×	8.3×-1.2×
Price / book	10.7×-2.8×	13.8×-2.2×	15.9×-0.8×	13.2×-0.4×	13.4×-0.8×
EV / EBITDA	13×-5.0×	16.8×-3.6×	20.8×-2.1×	16.6×-4.6×	18×-3.4×
EV / sales	6.8×-2.3×	9×-1.7×	10.9×-0.2×	8.8×-1.2×	9.2×-1.3×
Free cash flow yield	5%+1.6pp	3.8%+1.2pp	2.7%-0.8pp	3%-1.3pp	3.3%-1.2pp
Earnings yield	3.4%+1.0pp	2.5%+0.4pp	2%+0.1pp	2.6%+0.5pp	2.4%+0.2pp
Dividend yield	6.8%+2.0pp	5%+1.7pp	4.1%+0.4pp	4.8%+0.1pp	4.8%+0.4pp
PEG ratio	1.5×-0.9×	4.5×+4.0×	2.3×+0.1×	0.9×+0.1×	2.3×+2.1×

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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.