BXBlackstone Inc.
Investment Advice
- Revenue
- $14.5B
- 9.2% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $89.2B
- Employees
- 5,285
- $3M revenue each
- Net debt / EBITDA
- —
- $10.8B net debt
- AI in 10-K
- 4.2
- mentions per 10K words
Takeover score 3 of 13
Fixable underperformance 2 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo154% of net incomeCash flow under 80% of net income
- Dilutive SBCYes10% of revenueOver 10% of revenue
- Payouts exceed cash flowYes129% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo4% of assetsOver 40% of assets
- Shareholder dissentNo—Any vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo$3M · 87th pctBottom quartile of its SIC industry
- Quiet on AINo4.2 per 10K words · 80th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo—More cash than debt, positive EBITDA
- Buyout-sizedNo$89.2B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$5.1B netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $22.6B | $8.5B | $8.0B | $13.2B | $14.5B | 9.2% |
| Net income | $5.9B | $1.7B | $1.4B | $2.8B | $3.0B | 8.7% |
| Operating cash flow | $4.0B | $6.3B | $4.1B | $3.5B | $4.7B | 34% |
| Capex | $64M | $235M | $224M | $61M | $116M | 88% |
| Stock-based comp | $637M | $846M | $988M | $1.2B | $1.4B | 24% |
| Dividends | $4.6B | $6.5B | $4.3B | $4.4B | $6.0B | 36% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $369M · 33
- Open-market sells, 12 mo
- $5.3B · 46
- Net
- −$4.9B
Pay vs performance
No pay-versus-performance disclosure yet.