Blackstone
Manages real estate, private equity, credit, insurance, and multi-asset strategies for global investors.
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Profile
Raises and invests institutional and individual capital across real estate, private equity, credit and insurance, and multi-asset strategies. Recurring management fees anchor revenue, while performance fees and investment gains vary with fund returns and realizations.
Manages institutional and individual capital across Real Estate, Private Equity, Credit & Insurance, and Multi-Asset Investing. Strategies include opportunistic and core-plus property, real estate debt, buyouts, infrastructure, growth and life sciences, secondaries, direct and liquid credit, insurance portfolios, hedge-fund solutions, and total-portfolio mandates across the Americas, Europe, and Asia.
Pairs a rigorous investment process and global reach with institutional relationships and private-wealth distribution, serving pension funds and insurers while expanding perpetual products for eligible individuals. BREIT, BCRED, BXPE, and infrastructure offerings complement traditional drawdown funds.
Revenue comes mainly from management fees and investment returns on managed assets. Performance revenue depends on fund appreciation and realizations; fundraising depends on investment results, execution, reputation, and investor demand. Perpetual vehicles can permit limited redemptions, and investment advisers and funds operate under securities and financial-services regulation.
Company facts
Categories
Key statistics
Year to date −10.4% · Average volume (30d) 4.5M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Jul 30, 2026 | Argus Research | Reiterate | Buy | $163 | $150 |
| Jul 24, 2026 | RBC Capital | Reiterate | Outperform | $173 | $169 |
| Jul 24, 2026 | Oppenheimer | Reiterate | Outperform | $156 | $140 |
| Jul 24, 2026 | Goldman Sachs | Reiterate | Neutral | $150 | $127 |
| Jul 24, 2026 | Barclays | Reiterate | Equal Weight | $119 | $128 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 23, 2026Q2 FY26 | $1.34 | $1.52 | +13.4% | $3.42B | $3.80B | +11.1% | +4.42% |
| Apr 23, 2026Q1 FY26 | $1.34 | $1.36 | +1.5% | $3.41B | $3.43B | +0.7% | −0.56% |
| Jan 29, 2026Q4 FY25 | $1.54 | $1.75 | +13.6% | $3.68B | $3.94B | +7.1% | −0.36% |
| Oct 23, 2025Q3 FY25 | $1.23 | $1.52 | +23.6% | $3.11B | $2.81B | −9.6% | −0.25% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $2.94B | $3.71B | $2.81B | $4.36B | $4.10B | $4.77B | |
| Gross profit | $2.83B | $3.58B | $2.69B | $2.81B | $4.04B | $4.71B | |
| Operating income | $1.45B | $1.92B | $1.45B | $2.36B | $1.59B | $2.95B | |
| Net income | $614.9M | $764.2M | $624.9M | $1.02B | $649.7M | $1.23B | |
| Diluted EPS | $0.80 | $0.98 | $0.80 | $1.30 | $0.83 | $1.57 | |
| Gross margin | 96.0% | 96.3% | 95.5% | 64.5% | 98.5% | 98.8% | |
| Operating margin | 49.3% | 51.6% | 51.4% | 54.2% | 38.8% | 61.9% |
Fiscal years (4-quarter sums)FY21 $16.85B · FY22 $7.45B · FY23 $7.44B · FY24 $11.37B · FY25 $13.83B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $2.51B · Total debt $14.03B · Total assets $49.89B · Shareholders' equity $9.01B
Dividends
Raised for 2 straight years — most recently to $1.29 from $1.16 in Aug 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 3, 2026 | Aug 3 | Aug 10 | $1.29 | raised from $1.16 |
| May 4, 2026 | May 4 | May 11 | $1.16 | cut from $1.49 |
| Feb 9, 2026 | Feb 9 | Feb 17 | $1.49 | raised from $1.29 |
| Nov 3, 2025 | Nov 3 | Nov 10 | $1.29 | raised from $1.03 |
| Aug 4, 2025 | Aug 4 | Aug 11 | $1.03 | raised from $0.93 split-adjusted |
| Apr 28, 2025 | Apr 28 | May 5 | $0.372 | cut from $1.44 split-adjusted |
| Feb 10, 2025 | Feb 10 | Feb 18 | $1.44 | raised from $0.86 |
| Oct 28, 2024 | Oct 28 | Nov 4 | $0.86 | raised from $0.82 |
Ownership
Shares outstanding 787.79M · Float 744.08M · 94.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 51.94M | 6.59% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 48.51M | 6.16% | 13F | Aug 13, 2026 |
| Morgan Stanley | 34.84M | 4.42% | 13F | Aug 13, 2026 |
| State Street Corp | 32.46M | 4.12% | 13F | Aug 7, 2026 |
| Charles Schwab Investment Management Inc | 23.50M | 2.98% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 21, 2026 | Blackstone Holdings IV L.P. | 10 percent owner | +272,642 | $26.14 |
| Jun 23, 2026 | Blackstone Holdings IV L.P. | 10 percent owner | +769,893 | $26.14 |
| Aug 11, 2026 | David Payne | officer: Chief Accounting Officer | −9,500 | $145.23 |
| Aug 11, 2026 | John G. Finley | officer: Chief Legal Officer | −45,000 | $147.11 |
| Aug 10, 2026 | Ruth Porat | director | +455 | $137.20 |
Peers
- KKR
PE, real estate, credit, infrastructure, and insurance rival at $758B AUM.
- Apollo Global Management
Largest alt-credit manager; Athene insurance mirrors BCRED perpetual-capital.
- Brookfield Asset Management
$1T+ AUM; largest global infrastructure and top-3 real estate platform.
- Ares Management
Dominant private credit platform; head-to-head in direct lending and real assets
- The Carlyle Group
Founding-era PE rival with growing credit and real estate; $475B AUM.
- TPG
Multi-platform rival across PE, credit, real estate, and impact; $306B AUM.
- Blue Owl Capital
Pure-play direct lending and GP stakes rival; $315B AUM, permanent capital.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Blackstone | $142.86 | +0.35% | $171.97B | 31.6 | 22.2 | 10.7 | +2.4% |
| KKR | $108.40 | −0.21% | $97.58B | 34.2 | 16.3 | 4.6 | −44.8% |
| Apollo Global Management | $135.48 | +0.35% | $77.78B | 30.2 | 13.8 | 2.2 | +63.7% |
| Brookfield Asset Management | $51.52 | −1.14% | $83.22B | 30.3 | 25.6 | 15.4 | +58.7% |
| Ares Management | $142.53 | +0.04% | $46.81B | 59.1 | 21.9 | 7.3 | +5.8% |
| The Carlyle Group | $49.09 | −0.02% | $17.67B | 51.0 | 11.9 | 4.5 | −29.3% |
| TPG | $53.97 | +0.03% | $20.69B | 62.0 | 16.9 | 4.4 | −31.8% |
| Blue Owl Capital | $12.04 | +0.12% | $18.79B | 101.2 | 13.0 | 6.3 | +7.1% |
| Median | 51.0 | 16.3 | 4.6 | +5.8% |