Blackstone Inc. (BX) financial statements: income statement, balance sheet and cash flow
Blackstone Inc.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Blackstone Inc. reported revenue of $14.5B (+9.2% year on year) and net income of $6.0B (+11.2% year on year).
Income statement
Blackstone Inc. income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Revenues
$9.1B
$8.2B
$7.4B
$6.8B
Realized
$3.7B
$3.5B
$2.2B
$5.4B
Unrealized
$643.1M
$371.4M
($1.7B)
($3.4B)
Realized
$697.6M
$332.3M
$303.8M
$850.3M
Unrealized
$248.3M
$380.6M
($603.2M)
($1.6B)
Total Investment Income
$5.3B
$4.5B
$232.8M
$1.2B
Interest and Dividend Revenue
$416.1M
$411.2M
$516.5M
$271.6M
Other
($270.9M)
$123.7M
($92.9M)
$184.6M
Total Revenues
$14.5B
$13.2B
$8.0B
$8.5B
Compensation
$3.7B
$3.0B
$2.8B
$2.6B
Incentive Fee Compensation
$274.9M
$373.6M
$281.1M
$208.0M
Realized
$1.3B
$1.4B
$900.9M
$2.2B
Unrealized
$377.0M
$140.0M
($654.4M)
($1.5B)
Total Compensation and Benefits
$5.6B
$5.0B
$3.3B
$3.5B
General, Administrative and Other
$1.5B
$1.4B
$1.1B
$1.1B
Interest Expense
$508.3M
$443.7M
$431.9M
$317.2M
Fund Expenses
$49.2M
$19.7M
$119.0M
$30.7M
Total Expenses
$7.7B
$6.8B
$5.0B
$5.0B
Change in Tax Receivable Agreement Liability
$6.6M
($41.2M)
($27.2M)
$22.3M
Net Gains (Losses) from Fund Investment Activities
$417.4M
$90.1M
($56.8M)
($105.1M)
Total Other Income (Loss)
$424.0M
$48.8M
($84.0M)
($82.9M)
Income Before Provision for Taxes
$7.2B
$6.5B
$3.0B
$3.5B
Provision for Taxes
$1.1B
$1.0B
$513.5M
$472.9M
Net Income
$6.0B
$5.4B
$2.4B
$3.0B
Net Income (Loss) Attributable to Redeemable Non-Controlling Interests in Consolidated Entities
$45.5M
($61.3M)
($245.5M)
($142.9M)
Net Income Attributable to Non-Controlling Interests in Consolidated Entities
$660.6M
$473.8M
$224.2M
$107.8M
Net Income Attributable to Non-Controlling Interests in Blackstone Holdings
$2.3B
$2.2B
$1.1B
$1.3B
Net Income Attributable to Blackstone Inc.
$3.0B
$2.8B
$1.4B
$1.7B
Basic
$3.87
$3.62
$1.84
$2.36
Diluted
$3.87
$3.62
$1.84
$2.36
Basic
780.0M
766.5M
755.2M
740.7M
Diluted
780.2M
766.6M
755.4M
740.9M
Blackstone Inc. income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Revenues
$2.4B
$2.3B
$2.3B
$2.2B
Realized
$1.4B
$1.1B
$997.3M
$829.8M
Unrealized
$587.1M
$283.5M
($215.8M)
$313.3M
Realized
$105.6M
$143.0M
$152.7M
$97.2M
Unrealized
$414.8M
($385.0M)
($238.7M)
$365.4M
Total Investment Income
$2.5B
$1.1B
$695.5M
$1.6B
Interest and Dividend Revenue
$134.2M
$107.9M
$107.5M
$100.4M
Other
$11.9M
$51.0M
$28.7M
($225.1M)
Total Revenues
$5.0B
$3.6B
$3.1B
$3.7B
Compensation
$963.0M
$1.2B
$845.7M
$870.4M
Incentive Fee Compensation
$49.7M
$54.4M
$61.9M
$67.4M
Realized
$565.3M
$433.4M
$354.8M
$331.2M
Unrealized
$236.1M
$89.7M
($31.5M)
$152.6M
Total Compensation and Benefits
$1.8B
$1.7B
$1.2B
$1.4B
General, Administrative and Other
$409.1M
$372.8M
$383.6M
$360.8M
Interest Expense
$145.0M
$137.1M
$126.3M
$135.8M
Fund Expenses
$7.3M
$8.0M
$10.1M
$14.4M
Total Expenses
$2.4B
$2.3B
$1.8B
$1.9B
Net Gains from Fund Investment Activities
$140.1M
$99.8M
$108.6M
$136.3M
Total Other Income
$140.1M
$99.8M
$108.6M
$136.3M
Income Before Provision for Taxes
$2.8B
$1.5B
$1.4B
$1.9B
Provision for Taxes
$452.4M
$197.2M
$209.7M
$289.5M
Net Income
$2.4B
$1.3B
$1.2B
$1.6B
Net Income Attributable to Redeemable Non-Controlling Interests in Consolidated Entities
$5.2M
$21.0M
$29.0M
$18.2M
Net Income Attributable to Non-Controlling Interests in Consolidated Entities
$175.6M
$117.4M
$125.9M
$240.8M
Net Income Attributable to Non-Controlling Interests in Blackstone Holdings
$946.1M
$469.8M
$457.1M
$602.8M
Net Income Attributable to Blackstone Inc.
$1.2B
$649.7M
$624.9M
$764.2M
Basic
$1.54
$0.83
$0.80
$0.98
Diluted
$1.54
$0.83
$0.80
$0.98
Basic
799.9M
785.3M
782.6M
782.4M
Diluted
799.9M
786.3M
782.7M
782.4M
Balance sheet
Blackstone Inc. balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and Cash Equivalents
$2.6B
$2.0B
$3.0B
$4.3B
Cash Held by Blackstone Funds and Other
$223.4M
$204.1M
$316.2M
$241.7M
Investments
$32.2B
$29.8B
$26.1B
$27.6B
Accounts Receivable
$291.8M
$237.9M
$193.4M
$462.9M
Due from Affiliates
$6.4B
$5.4B
$4.5B
$4.1B
Intangible Assets, Net
$131.4M
$165.2M
$201.2M
$217.3M
Goodwill
$1.9B
$1.9B
$1.9B
$1.9B
Other Assets
$1.2B
$947.9M
$944.8M
$800.5M
Right-of-Use Assets
$757.5M
$838.6M
$841.3M
$897.0M
Deferred Tax Assets
$2.1B
$2.0B
$2.3B
$2.1B
Total Assets
$47.7B
$43.5B
$40.3B
$42.5B
Loans Payable
$12.4B
$11.3B
$11.3B
$12.3B
Due to Affiliates
$3.2B
$2.8B
$2.4B
$2.1B
Accrued Compensation and Benefits
$6.4B
$6.1B
$5.2B
$6.1B
Operating Lease Liabilities
$861.0M
$965.7M
$989.8M
$1.0B
Accounts Payable, Accrued Expenses and Other Liabilities
$2.9B
$2.8B
$2.3B
$1.2B
Total Liabilities
$25.8B
$24.0B
$22.2B
$22.8B
Redeemable Non-Controlling Interests in Consolidated Entities
$1.4B
$801.4M
$1.2B
$1.7B
Common Stock, $0.00001 par value, 90 billion shares authorized, (748,688,068 shares issued and outstanding as of December 31, 2025; 731,925,965 shares issued and outstanding as of December 31, 2024)
7.0K
7.0K
7.0K
7.0K
Preferred Stock, Value, Issued
$0
$0
$0
$0
Additional Paid-in-Capital
$8.5B
$7.4B
$6.2B
$5.9B
Retained Earnings
$191.6M
$808.1M
$660.7M
$1.7B
Accumulated Other Comprehensive Loss
($6.0M)
($40.3M)
($19.1M)
($27.5M)
Total Stockholders' Equity of Blackstone Inc.
$8.7B
$8.2B
$6.8B
$7.7B
Non-Controlling Interests in Consolidated Entities
$7.2B
$6.2B
$5.2B
$5.1B
Non-Controlling Interests in Blackstone Holdings
$4.6B
$4.3B
$4.9B
$5.3B
Total Equity
$20.5B
$18.7B
$16.9B
$18.0B
Total Liabilities and Equity
$47.7B
$43.5B
$40.3B
$42.5B
Blackstone Inc. balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and Cash Equivalents
$2.5B
$2.4B
$2.4B
$2.2B
Cash Held by Blackstone Funds and Other
$266.2M
$262.0M
$401.6M
$313.9M
Investments
$34.6B
$32.7B
$31.5B
$31.1B
Accounts Receivable
$692.1M
$572.8M
$543.2M
$357.9M
Due from Affiliates
$6.2B
$6.4B
$5.8B
$5.5B
Intangible Assets, Net
$113.3M
$122.3M
$140.5M
$147.3M
Goodwill
$1.9B
$1.9B
$1.9B
$1.9B
Other Assets
$996.5M
$1.0B
$900.6M
$877.0M
Right-of-Use Assets
$743.1M
$786.3M
$773.0M
$793.7M
Deferred Tax Assets
$1.9B
$2.1B
$2.1B
$2.1B
Total Assets
$49.9B
$48.3B
$46.6B
$45.4B
Loans Payable
$13.2B
$13.3B
$12.0B
$12.0B
Due to Affiliates
$3.5B
$3.2B
$3.0B
$2.8B
Accrued Compensation and Benefits
$6.8B
$6.4B
$6.4B
$6.1B
Operating Lease Liabilities
$832.6M
$881.6M
$886.1M
$918.9M
Accounts Payable, Accrued Expenses and Other Liabilities
$3.1B
$3.1B
$2.9B
$2.5B
Total Liabilities
$27.5B
$26.9B
$25.2B
$24.3B
Redeemable Non-Controlling Interests in Consolidated Entities
$1.4B
$1.4B
$1.5B
$1.5B
Common Stock, $0.00001 par value, 90 billion shares authorized, (752,601,287 shares issued and outstanding as of June 30, 2026; 748,688,068 shares issued and outstanding as of December 31, 2025)
7.0K
7.0K
7.0K
7.0K
Preferred Stock, Value, Issued
$0
$0
$0
$0
Additional Paid-in-Capital
$9.1B
$8.7B
$8.2B
$8.0B
Retained Earnings (Deficit)
($18.6M)
($323.7M)
$184.0M
$362.6M
Accumulated Other Comprehensive Loss
($18.6M)
($15.8M)
($5.6M)
$1.1M
Total Stockholders' Equity of Blackstone Inc.
$9.0B
$8.4B
$8.4B
$8.4B
Non-Controlling Interests in Consolidated Entities
$7.1B
$7.2B
$7.2B
$6.8B
Non-Controlling Interests in Blackstone Holdings
$4.9B
$4.4B
$4.3B
$4.4B
Total Equity
$21.1B
$20.0B
$19.9B
$19.6B
Total Liabilities and Equity
$49.9B
$48.3B
$46.6B
$45.4B
Cash flow statement
Blackstone Inc. cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net Income
$6.0B
$5.4B
$2.4B
$3.0B
Net Realized Gains on Investments
($4.8B)
($4.2B)
($3.0B)
($6.5B)
Changes in Unrealized (Gains) Losses on Investments
($488.1M)
($487.0M)
$683.7M
$1.8B
Non-Cash Performance Allocations
($643.1M)
($371.4M)
$1.7B
$3.4B
Non-Cash Performance Allocations and Incentive Fee Compensation
$1.9B
$1.9B
$473.4M
$931.3M
Equity-Based Compensation Expense
$1.4B
$1.2B
$987.5M
$846.3M
Amortization of Intangibles
$36.0M
$36.0M
$40.1M
$67.1M
Other Non-Cash Amounts Included in Net Income
$3.8M
($444.8M)
($835.2M)
($1.3B)
Cash Acquired with Consolidation of Fund Entities
$0
$39.7M
—
—
Cash Relinquished with Deconsolidation of Fund Entities
($69.5M)
($113.2M)
($113.6M)
$0
Accounts Receivable
($211.9M)
($78.3M)
$237.6M
$177.8M
Due from Affiliates
($186.5M)
($386.8M)
$331.6M
$654.3M
Other Assets
($166.4M)
($560.0K)
($47.3M)
($26.9M)
Accrued Compensation and Benefits
($1.5B)
($1.2B)
($1.1B)
($2.2B)
Accounts Payable, Accrued Expenses and Other Liabilities
$514.3M
$194.6M
($40.3M)
$149.0M
Due to Affiliates
($124.1M)
$16.9M
$85.7M
$117.2M
Investments Purchased
($3.8B)
($2.4B)
($5.0B)
($5.2B)
Cash Proceeds from Sale of Investments
$6.7B
$4.3B
$7.2B
$10.4B
Net Cash Provided by Operating Activities
$4.7B
$3.5B
$4.1B
$6.3B
Purchase of Furniture, Equipment and Leasehold Improvements
($115.7M)
($61.4M)
($224.2M)
($235.5M)
Net Cash Paid for Acquisitions, Net of Cash Acquired
$0
—
($5.4M)
$0
Net Cash Used in Investing Activities
($115.7M)
($61.4M)
($229.7M)
($235.5M)
Distributions to Non-Controlling Interest Holders in Consolidated Entities
($1.0B)
($874.0M)
($1.0B)
($1.3B)
Contributions from Non-Controlling Interest Holders in Consolidated Entities
$2.5B
$907.3M
$708.4M
$1.3B
Payments Under Tax Receivable Agreement
($44.0M)
($87.5M)
($64.6M)
($46.9M)
Net Settlement of Vested Common Stock and Repurchase of Common Stock
($312.5M)
($661.1M)
($418.0M)
($466.0M)
Proceeds from Loans Payable
$2.8B
$741.2M
$495.0M
$3.5B
Repayment and Repurchase of Loans Payable
($1.8B)
($103.2M)
($502.5M)
($280.8M)
Dividends/Distributions to Stockholders and Unitholders
($6.0B)
($4.4B)
($4.3B)
($6.5B)
Net Cash Used in Financing Activities
($3.9B)
($4.5B)
($5.1B)
($3.8B)
Effect of Exchange Rate Changes on Cash and Cash Equivalents and Cash Held by Blackstone Funds and Other
$9.8M
($14.6M)
$5.0M
($12.3M)
Net Increase (Decrease)
$678.5M
($1.1B)
($1.2B)
$2.3B
Beginning of Period
$2.2B
$3.3B
$4.5B
$2.2B
End of Period
$2.9B
$2.2B
$3.3B
$4.5B
Payments for Interest
$463.5M
$407.3M
$400.3M
$261.9M
Payments for Income Taxes
$562.6M
$646.9M
$569.4M
$683.2M
Non-Cash Contributions from Non-Controlling Interest Holders
$16.3M
$101.4M
$22.0M
$34.3M
Non-Cash Distributions to Non-Controlling Interest Holders
($16.4M)
($2.1M)
($105.4M)
—
Notes Issuance Costs
$9.5M
$6.1M
$0
$30.2M
Transfer of Interests to Non-Controlling Interest Holders
($499.0K)
($9.5M)
($8.2M)
($11.5M)
Net Settlement of Vested Common Stock
$1.4B
$972.4M
$681.0M
$387.3M
Deferred Tax Asset Increase (Decrease) from Equity Transactions
$490.2M
—
—
—
Due to Affiliates Increase Related to the Impact of Conversions on Tax Receivable Agreements
$278.9M
—
—
—
Blackstone Inc. cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net Income
$3.6B
$1.3B
$4.1B
$2.8B
Net Realized Gains on Investments
($2.9B)
($1.4B)
($3.1B)
($1.9B)
Changes in Unrealized Gains on Investments
($207.5M)
$317.1M
($462.9M)
($632.9M)
Non-Cash Performance Allocations
($870.6M)
($283.5M)
($360.7M)
($576.5M)
Non-Cash Performance Allocations and Incentive Fee Compensation
$1.4B
$577.5M
$1.3B
$953.2M
Equity-Based Compensation Expense
$915.5M
$560.9M
$1.1B
$783.4M
Amortization of Intangibles
$18.1M
$9.0M
$26.9M
$17.9M
Other Non-Cash Amounts Included in Net Income
($263.0M)
($201.2M)
$31.9M
$136.0M
Cash Acquired with Consolidation of Fund Entities
$830.0K
$830.0K
$0
$0
Cash Relinquished with Deconsolidation of Fund Entities
($12.9M)
($38.0K)
($65.8M)
($65.8M)
Accounts Receivable
($402.7M)
($367.0M)
($377.7M)
($117.3M)
Due from Affiliates
$476.1M
$238.4M
($11.5M)
$241.6M
Other Assets
$194.8M
$154.8M
$81.1M
$118.7M
Accrued Compensation and Benefits
($953.9M)
($709.7M)
($814.6M)
($705.8M)
Accounts Payable, Accrued Expenses and Other Liabilities
$166.1M
$176.5M
$459.4M
($23.2M)
Due to Affiliates
$11.0M
($24.2M)
($140.3M)
($150.2M)
Investments Purchased
($1.4B)
($910.2M)
($3.0B)
($2.4B)
Cash Proceeds from Sale of Investments
$3.2B
$1.6B
$4.8B
$3.4B
Net Cash Provided by Operating Activities
$2.9B
$991.0M
$3.6B
$2.0B
Purchase of Furniture, Equipment and Leasehold Improvements
($65.4M)
($33.4M)
($93.4M)
($69.4M)
Net Cash Used in Investing Activities
($65.4M)
($33.4M)
($93.4M)
($69.4M)
Distributions to Non-Controlling Interest Holders in Consolidated Entities
($839.3M)
($356.3M)
($800.0M)
($481.9M)
Contributions from Non-Controlling Interest Holders in Consolidated Entities
$733.3M
$458.1M
$2.3B
$1.8B
Payments Under Tax Receivable Agreement
($63.8M)
($63.8M)
($44.0M)
($44.0M)
Net Settlement of Vested Common Stock and Repurchase of Common Stock
($108.6M)
($66.3M)
($261.4M)
($135.4M)
Proceeds from Loans Payable
$1.6B
$900.0M
$1.2B
$1.0B
Repayment and Repurchase of Loans Payable
($851.3M)
($47.7M)
($906.4M)
($706.4M)
Dividends/Distributions to Stockholders and Unitholders
($3.4B)
($1.9B)
($4.4B)
($3.1B)
Net Cash Used in Financing Activities
($2.9B)
($1.1B)
($2.9B)
($1.6B)
Effect of Exchange Rate Changes on Cash and Cash Equivalents and Cash Held by Blackstone Funds and Other
($9.7M)
($7.9M)
$13.3M
$16.8M
Net Increase (Decrease)
($81.4M)
($144.2M)
$656.1M
$373.3M
Beginning of Period
$2.9B
$2.9B
$2.2B
$2.2B
End of Period
$2.8B
$2.7B
$2.8B
$2.5B
Payments for Interest
$261.3M
$104.1M
$349.9M
$248.4M
Payments for Income Taxes
$141.3M
$76.0M
$352.7M
$297.0M
Non-Cash Contributions from Non-Controlling Interest Holders
$9.0M
$4.6M
$12.4M
$8.3M
Non-Cash Distributions to Non-Controlling Interest Holders
($9.2M)
($4.6M)
($12.7M)
($9.6M)
Transfer of Interests to Non-Controlling Interest Holders
($42.6M)
($26.2M)
$1.4M
$1.6M
Net Settlement of Vested Common Stock
$601.4M
$334.2M
$1.3B
$580.7M
Deferred Tax Asset Increase from Equity Transactions
$77.8M
$49.1M
$377.4M
$255.3M
Due to Affiliates Increase Related to the Impact of Conversions on Tax Receivable Agreements