Blackstone Mortgage Trust 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 Mortgage Trust Inc reported revenue of $552.8M (+10.9% year on year) and net income of $109.7M (+154.3% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Interest and related income | $1.4B | $1.8B | $2.0B | $1.3B |
| Less: Interest and related expenses | $988.9M | $1.3B | $1.4B | $710.9M |
| Income from loans and other investments, net | $367.5M | $479.1M | $670.7M | $628.0M |
| Revenue from owned real estate | $185.0M | $13.0M | — | — |
| Gain on extinguishment of debt | $0 | $5.4M | $4.6M | — |
| Other income | $400.0K | $1.1M | — | — |
| Total net revenue | $552.8M | $498.5M | — | — |
| Management and incentive fees | $67.6M | $74.8M | $119.1M | $110.3M |
| General and administrative expenses | $52.2M | $53.9M | $51.1M | $52.2M |
| Expenses from owned real estate | $215.6M | $22.1M | — | — |
| Other expenses | $6.0K | $5.7M | — | — |
| Total expenses | $335.3M | $156.4M | $170.2M | $162.5M |
| Increase in current expected credit loss reserve | ($112.5M) | ($538.8M) | ($249.8M) | ($211.5M) |
| Income (loss) from unconsolidated entities | $8.3M | ($2.7M) | — | — |
| Income (loss) before income taxes | $113.3M | ($199.5M) | $255.3M | $254.1M |
| Income tax provision | $3.7M | $2.4M | $5.4M | $3.0M |
| Net income (loss) | $109.7M | ($201.8M) | $249.9M | $251.1M |
| Net income attributable to non-controlling interests | ($100.0K) | ($2.3M) | ($3.3M) | ($2.4M) |
| Net income (loss) attributable to Blackstone Mortgage Trust, Inc. | $109.6M | ($204.1M) | $246.6M | $248.6M |
| Basic (in dollars per share) | $0.64 | -$1.17 | $1.43 | $1.46 |
| Diluted (in dollars per share) | $0.64 | -$1.17 | $1.43 | $1.46 |
| Basic (in shares) | 171.0M | 173.8M | 172.7M | 170.6M |
| Diluted (in shares) | 171.0M | 173.8M | 172.7M | 170.6M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Interest and related income | $309.7M | $305.6M | $346.0M | $359.5M |
| Less: Interest and related expenses | $227.2M | $220.7M | $247.1M | $264.7M |
| Income from loans and other investments, net | $82.6M | $84.8M | $98.9M | $94.8M |
| Revenue from owned real estate | $75.5M | $74.6M | $33.7M | $38.8M |
| Total net revenue | $158.1M | $159.4M | $132.7M | $133.9M |
| Management and incentive fees | $14.6M | $14.8M | $16.8M | $17.0M |
| General and administrative expenses | $14.9M | $14.0M | $12.7M | $13.5M |
| Expenses from owned real estate | $81.4M | $82.0M | $43.1M | $47.8M |
| Total expenses | $111.0M | $110.8M | $72.7M | $78.4M |
| Increase in current expected credit loss reserve | ($134.4M) | ($55.1M) | $987.0K | ($45.6M) |
| Income (loss) from unconsolidated entities | $8.6M | $1.4M | $3.9M | ($2.0M) |
| Net loss on disposition of owned real estate | $0 | ($160.0K) | — | — |
| Other income, net | $3.0K | $4.0K | — | — |
| (Loss) income before income taxes | ($78.8M) | ($5.2M) | $64.9M | $7.9M |
| Income tax provision | $2.5M | $1.2M | $1.5M | $903.0K |
| Net (loss) income | ($81.3M) | ($6.3M) | $63.4M | $7.0M |
| Net loss (income) attributable to non-controlling interests | $45.0K | $43.0K | ($11.0K) | ($15.0K) |
| Net (loss) income attributable to Blackstone Mortgage Trust, Inc. | ($81.2M) | ($6.3M) | $63.4M | $7.0M |
| Basic (in dollars per share) | -$0.48 | -$0.04 | $0.37 | $0.04 |
| Diluted (in dollars per share) | -$0.48 | -$0.04 | $0.37 | $0.04 |
| Basic (in shares) | 169.0M | 169.1M | 171.8M | 171.9M |
| Diluted (in shares) | 169.0M | 169.1M | 171.8M | 171.9M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $452.5M | $323.5M | $350.0M | $291.3M |
| Loans receivable | $18.1B | $19.0B | $23.8B | $25.0B |
| Current expected credit loss reserve | ($284.4M) | ($733.9M) | ($576.9M) | ($326.1M) |
| Loans receivable, net | $17.8B | $18.3B | $23.2B | $24.7B |
| Owned real estate, net | $1.1B | $588.2M | — | — |
| Investments in unconsolidated entities (includes $111,010 and $0 at fair value as of December 31, 2025 and December 31, 2024, respectively) | $217.5M | $4.5M | — | — |
| Other assets | $413.3M | $572.3M | $476.1M | $370.9M |
| Total Assets | $20.0B | $19.8B | $24.0B | $25.4B |
| Long-term debt | $15.3B | $12.9B | — | — |
| Loan participations sold, net | $0 | $100.1M | $337.2M | $224.2M |
| Senior secured notes, net | $784.9M | $771.0M | $362.8M | $395.2M |
| Other liabilities | $386.2M | $282.8M | $362.5M | $426.9M |
| Total Liabilities | $16.5B | $16.0B | $19.6B | $20.8B |
| Class A common stock, $0.01 par value, 400,000,000 shares authorized, 168,259,023 and 172,792,094 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | 1.7M | 1.7M | 1.7M | 1.7M |
| Additional paid-in capital | $5.4B | $5.5B | $5.5B | $5.5B |
| Accumulated other comprehensive income | $12.1M | $8.3M | $9.5M | $10.0M |
| Accumulated deficit | ($1.9B) | ($1.7B) | ($1.2B) | ($968.7M) |
| Total Blackstone Mortgage Trust, Inc. stockholders’ equity | $3.5B | $3.8B | $4.4B | $4.5B |
| Non-controlling interests | $5.5M | $6.9M | $19.8M | $25.4M |
| Total Equity | $3.5B | $3.8B | $4.4B | $4.5B |
| Total Liabilities and Equity | $20.0B | $19.8B | $24.0B | $25.4B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $432.8M | $549.2M | $377.9M | $388.0M |
| Loans receivable | $17.3B | $17.6B | $18.1B | $19.7B |
| Current expected credit loss reserve | ($397.8M) | ($291.6M) | ($695.7M) | ($740.9M) |
| Loans receivable, net | $16.9B | $17.3B | $17.4B | $19.0B |
| Owned real estate, net | $1.3B | $1.1B | $933.6M | $615.2M |
| Investments in unconsolidated entities (includes $136,158 and $111,010 at fair value as of June 30, 2026 and December 31, 2025, respectively) | $322.1M | $244.4M | $182.6M | $108.1M |
| Other assets | $415.3M | $420.8M | $834.2M | $507.8M |
| Total Assets | $19.4B | $19.6B | $19.7B | $20.6B |
| Long-term debt | $14.6B | $15.1B | $14.4B | $15.4B |
| Senior secured notes, net | $1.2B | $782.2M | $785.2M | $784.1M |
| Other liabilities | $364.9M | $359.8M | $639.4M | $431.7M |
| Total Liabilities | $16.1B | $16.2B | $16.1B | $17.0B |
| Class A common stock, $0.01 par value, 400,000,000 shares authorized, 168,543,591 and 168,259,023 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively | 1.7M | 1.7M | 1.7M | 1.7M |
| Additional paid-in capital | $5.4B | $5.4B | $5.5B | $5.5B |
| Accumulated other comprehensive income | $11.2M | $7.9M | $9.3M | $9.8M |
| Accumulated deficit | ($2.2B) | ($2.0B) | ($1.9B) | ($1.9B) |
| Total Blackstone Mortgage Trust, Inc. stockholders’ equity | $3.3B | $3.4B | $3.6B | $3.6B |
| Non-controlling interests | $3.0M | $3.1M | $6.7M | $6.8M |
| Total Equity | $3.3B | $3.4B | $3.6B | $3.6B |
| Total Liabilities and Equity | $19.4B | $19.6B | $19.7B | $20.6B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net (loss) income | $109.7M | ($201.8M) | $249.9M | $251.1M |
| Non-cash compensation expense | $28.3M | $31.8M | $30.7M | $33.4M |
| Amortization of deferred fees on loans | ($59.4M) | ($64.1M) | ($78.4M) | ($81.7M) |
| Amortization of deferred financing costs and premiums/discounts on debt obligations | $38.4M | $43.0M | $54.3M | $50.0M |
| Payment-in-kind interest, net of interest received | ($19.5M) | ($16.7M) | ($2.9M) | — |
| Increase in current expected credit loss reserve | $112.5M | $538.8M | — | — |
| Straight-line rental income | $2.8M | $151.0K | — | — |
| Gain on extinguishment of debt | $0 | ($5.4M) | ($4.6M) | — |
| Depreciation and amortization of owned real estate | $68.8M | $9.4M | — | — |
| (Income) loss from unconsolidated entities | ($8.3M) | $2.7M | — | — |
| Distributions of earnings from unconsolidated entities | $1.5M | — | — | — |
| Unrealized loss (gain) on derivative financial instruments, net | $2.7M | ($2.1M) | $2.8M | ($4.3M) |
| Realized gain on derivative financial instruments, net | ($21.5M) | ($10.0M) | ($28.2M) | ($15.6M) |
| Other assets | $30.5M | $45.2M | ($20.7M) | ($106.4M) |
| Other liabilities | ($10.6M) | ($4.6M) | $6.2M | $58.9M |
| Net cash provided by operating activities | $275.9M | $366.5M | $458.8M | $396.8M |
| Principal fundings of loans receivable | ($5.6B) | ($1.4B) | ($1.3B) | ($6.8B) |
| Principal collections, sales proceeds, and cost-recovery proceeds from loans receivable | $6.2B | $4.8B | $2.8B | $3.3B |
| Origination and other fees received on loans receivable | $70.7M | $31.7M | $18.0M | — |
| Payments under derivative financial instruments | ($203.0M) | ($150.0M) | ($233.5M) | ($23.1M) |
| Receipts under derivative financial instruments | $130.8M | $90.2M | $163.7M | $353.3M |
| Collateral deposited under derivative agreements | ($433.3M) | ($191.8M) | ($352.1M) | ($217.2M) |
| Return of collateral deposited under derivative agreements | $412.8M | $290.5M | $351.7M | $114.1M |
| Investment in unconsolidated entities | ($207.1M) | ($7.2M) | — | — |
| Capital expenditures on owned real estate | ($12.8M) | ($590.0K) | — | — |
| Net cash provided by investing activities | $359.4M | $3.5B | $1.4B | ($3.3B) |
| Borrowings under long-term debt | $5.2B | $1.7B | — | — |
| Repayments and repurchases of long-term debt | ($6.1B) | ($5.9B) | — | — |
| Proceeds from issuance of securitized debt obligations | $1.0B | — | $0 | $0 |
| Proceeds from sale of loan participations | $0 | $0 | $100.7M | $245.3M |
| Repayments of loan participations | ($104.0M) | ($236.0M) | — | — |
| Proceeds from issuance of senior secured notes | $0 | $450.0M | $0 | $0 |
| Payment of deferred financing costs | ($53.8M) | ($30.8M) | ($23.2M) | ($46.0M) |
| Contributions from non-controlling interests | $0 | $1.2M | $0 | $5.0M |
| Distributions to non-controlling interests | ($1.5M) | ($16.4M) | ($9.0M) | ($12.6M) |
| Dividends paid on class A common stock | ($322.7M) | ($404.0M) | ($426.9M) | ($421.4M) |
| Repurchases of class A common stock | ($109.5M) | ($29.2M) | — | — |
| Net cash used in financing activities | ($514.4M) | ($3.9B) | ($1.8B) | $2.6B |
| Net increase (decrease) in cash and cash equivalents | $120.9M | ($19.1M) | $55.0M | ($249.5M) |
| Cash and cash equivalents at beginning of period | $323.5M | $350.0M | $291.3M | $551.2M |
| Effects of currency translation on cash and cash equivalents | $8.2M | ($7.4M) | $3.7M | ($10.3M) |
| Cash and cash equivalents at end of period | $452.5M | — | — | — |
| Payments of interest | ($966.6M) | ($1.3B) | ($1.3B) | ($608.3M) |
| Payments of income taxes | ($4.0M) | ($4.5M) | ($6.7M) | ($676.0K) |
| Dividends declared, not paid | ($79.1M) | ($81.2M) | ($107.4M) | ($106.5M) |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net (loss) income | ($87.6M) | ($6.3M) | $70.0M | $6.6M |
| Non-cash compensation expense | $13.4M | $6.7M | $21.6M | $14.3M |
| Amortization of deferred fees on loans | ($34.4M) | ($15.4M) | ($45.4M) | ($26.8M) |
| Amortization of deferred financing costs and premiums/discounts on debt obligations | $18.3M | $9.1M | $27.3M | $19.0M |
| Payment-in-kind interest, net of interest received | ($9.0M) | ($5.1M) | ($13.4M) | ($8.4M) |
| Increase in current expected credit loss reserve | $189.5M | $55.1M | $94.1M | $95.1M |
| Straight-line rental income | ($4.0M) | ($1.8M) | $1.8M | $1.7M |
| Depreciation and amortization of owned real estate | $41.2M | $20.9M | $48.0M | $32.9M |
| Net loss on disposition of owned real estate | $160.0K | $160.0K | — | — |
| (Income) loss from unconsolidated entities | ($10.0M) | ($1.4M) | ($1.0M) | $2.9M |
| Distributions of earnings from unconsolidated entities | $16.1M | $12.3M | — | — |
| Unrealized loss on derivative financial instruments, net | $3.3M | $3.5M | $3.1M | $3.0M |
| Realized gain on derivative financial instruments, net | ($10.8M) | ($7.5M) | ($16.8M) | ($10.6M) |
| Other assets | $112.3M | $99.0M | ($37.2M) | $23.9M |
| Other liabilities | ($3.5M) | $544.0K | ($12.4M) | $4.3M |
| Net cash provided by operating activities | $234.9M | $169.7M | $139.6M | $157.7M |
| Principal fundings of loans receivable | ($1.4B) | ($290.8M) | ($3.9B) | ($3.4B) |
| Principal collections, sales proceeds, and cost-recovery proceeds from loans receivable | $1.8B | $599.3M | $4.8B | $3.4B |
| Origination and other fees received on loans receivable | $22.1M | $12.2M | $46.9M | $30.5M |
| Investment in debt securities | ($66.7M) | ($66.7M) | — | — |
| Payments under derivative financial instruments | ($48.4M) | ($25.9M) | ($198.3M) | ($128.0M) |
| Receipts under derivative financial instruments | $25.9M | $7.9M | $96.1M | $94.4M |
| Collateral deposited under derivative agreements | ($135.8M) | ($89.1M) | ($391.4M) | ($343.5M) |
| Return of collateral deposited under derivative agreements | $157.8M | $107.4M | $396.2M | $261.9M |
| Investment in unconsolidated entities | ($136.0M) | ($58.9M) | ($178.7M) | ($107.7M) |
| Return of capital from unconsolidated entities | $26.5M | $20.7M | — | — |
| Proceeds from disposition of owned real estate | $15.1M | $15.1M | — | — |
| Capital expenditures on owned real estate | ($19.0M) | ($10.5M) | ($8.5M) | ($6.8M) |
| Net cash provided by (used in) investing activities | $186.0M | $220.8M | $601.6M | ($231.1M) |
| Borrowings under long-term debt | $1.5B | $294.5M | $3.3B | $2.8B |
| Repayments and repurchases of long-term debt | ($3.1B) | ($1.4B) | ($4.4B) | ($3.2B) |
| Proceeds from issuance of securitized debt obligations | $880.0M | $880.0M | $831.3M | $831.3M |
| Repayments of loan participations | $0 | — | ($104.0M) | $54.0M |
| Proceeds from issuance of senior secured notes | $450.0M | — | — | — |
| Payment of deferred financing costs | ($27.4M) | ($16.5M) | ($36.5M) | ($28.5M) |
| Distributions to non-controlling interests | ($2.3M) | ($2.3M) | ($212.0K) | ($137.0K) |
| Dividends paid on class A common stock | ($158.4M) | ($79.1M) | ($242.5M) | ($161.9M) |
| Repurchases of class A common stock | ($3.8M) | ($802.0K) | ($47.8M) | ($31.7M) |
| Net cash (used in) provided by financing activities | ($438.6M) | ($292.9M) | ($694.2M) | $129.2M |
| Net (decrease) increase in cash and cash equivalents | ($17.7M) | $97.7M | $47.0M | $55.9M |
| Cash and cash equivalents at beginning of period | $452.5M | $452.5M | $323.5M | $323.5M |
| Effects of currency translation on cash and cash equivalents | ($2.0M) | ($1.1M) | $7.5M | $8.7M |
| Cash and cash equivalents at end of period | $432.8M | $549.2M | $377.9M | $388.0M |
| Payments of interest | ($426.8M) | ($206.0M) | ($736.9M) | ($483.5M) |
| Payments of income taxes | ($5.3M) | ($1.9M) | ($3.4M) | ($1.7M) |
Blackstone Mortgage Trust Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.