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Stocks/Financials/Asset Management & Custody Banks

BlackstoneBX

Asset Management & Custody Banks · New York City, New York · In the S&P 500
High qualityPricier than peers
$118.51−1.73%After hours: $118.30 (−0.18%)At the close, 30 Oct · Prices from CNBC, may be delayed
▼ 20.4% over 1 year
Blackstone over 1 yearDaily close, $, to 30 Oct 2026
$100$140$160Nov2026MarMayJulSep$118.51$100$125$150NovMarJul$118.51
Source: Nasdaq daily closes
Market value$143B
Price to earnings26.4x
Forward P/E19.3x
Dividend yield4.27%
Year to date−23.1%
One year−20.4%
Next earningsNot scheduled
SectorFinancials
52-week range (closes)
$102.12$163.50

Quality and valuation

How Blackstone compares with other financials stocks. A description, not a recommendation.

Blackstone and 7 asset management & custody banks peers. Across: valuation (P/E) against the sector. Up: business quality against the sector. Hover or tap a logo for its numbers.

Business quality: stronger than mostValuation: pricier than most

A stronger business than most financials companies, priced above most of them.

Blackstone trades at 19.3 times the next 12 months of expected earnings, against a median of 13.0x for the 84 financials stocks we cover. The quality score blends where it ranks on revenue growth, gross margin, operating margin and free-cash-flow margin (net margin for banks and insurers) over the last 12 months, from SEC filings.

  • Revenue grew faster than the sector median: +17.2% vs +10.2%
  • Turns more of its sales into cash: 34.1% vs 20.3%
  • Keeps more of its revenue as profit (net margin): 21.8% vs 20.7%
BX trades at 19.3x forward earnings, above the sector medianForward p/e, Asset Management & Custody Banks peers
AMP10.1xKKR11.4xSTT11.6xAPO12.0xBNY15.2xBLK19.1xBX19.3xARES20.2xSector median 13.0xAMP10.1xKKR11.4xSTT11.6xAPO12.0xBNY15.2xBLK19.1xBX19.3xARES20.2xSector median 13.0x
Source: CNBC quotes; Mostly Markets
At 26.5x earnings, BX is cheaper than its average since Aug 2024Price over the last 12 months of reported (GAAP) diluted EPS
P/EUsual range (±1 s.d.)
40x60xAverage 42.9x2025202626.5x40x60xAverage 42.9x2025202626.5x
Source: Nasdaq prices; SEC filings

Financials

From Blackstone's SEC filings, through the quarter ending 30 Jun 2026. Hover or tap a bar for its value.

Revenue grew 35.9% from a year earlierQuarterly revenue, $bn, latest Q2 ’26
$0bn$2bn$4bnQ3 ’24Q1 ’25Q3 ’25$5.0bnQ2 ’26$0bn$2bn$4bnQ3 ’24Q1 ’25Q3 ’25$5.0bnQ2 ’26
Source: SEC filings
Growth sped up to +35.9% last quarterRevenue growth, year on year, %
0%50%100%Q3 ’24Q1 ’25Q3 ’2535.9%Q2 ’260%100%Q3 ’24Q1 ’25Q3 ’2535.9%Q2 ’26
Source: SEC filings
Free cash flow was $5.5 billion over 12 monthsQuarterly free cash flow (operating cash flow minus capex), $bn
$0.0bn$0.5bn$1.0bn$1.5bnQ3 ’24Q1 ’25Q3 ’25$1.9bnQ2 ’26$0bn$1bnQ3 ’24Q1 ’25Q3 ’25$1.9bnQ2 ’26
Source: SEC filings
Diluted EPS was $1.54 last quarterQuarterly diluted earnings per share, $
$0.0$0.5$1.0$1.5Q3 ’24Q1 ’25Q3 ’25$1.54Q2 ’26$0$1Q3 ’24Q1 ’25Q3 ’25$1.54Q2 ’26
Source: SEC filings
Last 12 monthsBXSector median
Revenue growth+17.2%+10.2%
Free cash flow margin34.1%20.3%
Price to earnings26.4x14.6x

Stories on Blackstone

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Similar companies

Asset Management & Custody Banks, by market value.

CompanyPriceTodayYTDValue
BLKBlackRock$1,147.54−2.44%+7.2%$186B
BNYBNY Mellon$147.11−1.51%+26.7%$98.99B
KKRKKR$94.39−1.49%−26.0%$84.73B
APOApollo Global Management$115.84−2.29%−20.0%$68.41B
STTState Street$169.77−2.29%+31.6%$46.19B
AMPAmeriprise Financial$490.83−1.42%+0.1%$43.36B
ARESAres Management$128.15+0.53%−20.7%$42.33B
NTRSNorthern Trust$169.16−2.17%+23.8%$30.64B