Blackstone (BX): analysis in plain words
Is Blackstone cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Blackstone (BX) is listed on the NYSE and we classify it in financial services and payments. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Blackstone according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Blackstone (BX) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $125.57 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 28.0x | Price over earnings per share |
| Revenue growth | -0.5% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 23.0% | Profit for every 100 of sales |
| Net debt / EBITDA | N/A | Years of operating profit to repay debt |
| Dividend yield | 4.28% | Annual dividend over price |
| Market cap | $150.1 billion | What the stock market values it at |
The Blackstone figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any BX figure that is not available shows as N/A: we do not estimate it.
How Blackstone makes money
Blackstone manages alternative investment funds for institutions and individuals. It reports Real Estate, Private Equity, Credit and Insurance, and Multi-Asset Investing segments. It collects management fees on assets it oversees and performance fees when investments are sold at a profit, with funds for wealthy individuals like BREIT and BCRED growing in importance.
Over the last 12 months, Blackstone brought in revenue of $15.5 billion. For every 100 it sells, Blackstone keeps 100.0 after the direct cost of what it sells (gross margin) and 48.9 after all operating costs (operating margin). With 5,285 full-time employees, that is about $3 million of revenue per employee.
Blackstone against its sector
To know whether a Blackstone figure is high or low you have to put it next to similar companies. This table compares Blackstone with the median of the 21 financial services and payments companies Fintols covers, with data as of November 4, 2026.
| Figure | Blackstone | financial services and payments median |
|---|---|---|
| P/E | 28.0x | 27.9x (21) |
| Revenue growth | -0.5% | +12.4% (24) |
| Net margin | 23.0% | 25.8% (24) |
| Dividend yield | 4.28% | 0.81% (24) |
In short, against the typical financial services and payments company, Blackstone grows more slowly and pays a higher dividend yield. By size, Blackstone ranks number 6 of 22 financial services and payments companies quoted in USD on Fintols.
The bull case for Blackstone
What works in favour of Blackstone, according to its figures as of November 4, 2026:
- Analysts expect Blackstone earnings to rise: its P/E on the next 12 months of estimated earnings is 17.0x, below the current 28.0x.
- Blackstone earns 32.4% a year on its shareholders' money (return on equity).
- Blackstone keeps 23.0 of every 100 it sells as net profit, against 25.8 for the median financial services and payments company: a margin like that leaves money to invest, buy back shares or pay dividends.
The main risk for Blackstone
Blackstone pays out more in dividends than it earns (a 111% payout ratio): its 4.28% yield only holds up if profit recovers.
On top of that: blackstone sales fell 0.5% in the latest quarter against the same quarter a year earlier: if the decline drags on, profit usually follows.
And, like the rest of financial services and payments, Blackstone is exposed to a drop in the payment, investment or trading volumes it earns fees on, plus regulation.
Frequently asked questions about Blackstone
Is it a good time to buy Blackstone stock?
Fintols does not tell you whether to buy or sell Blackstone, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Blackstone stock trades at $125.57, 24% below its 52-week high ($165.14) and 23% above its low ($101.73). Its P/E is 28.0x against a financial services and payments median of 27.9x, and 17.0x on the earnings analysts expect over the next 12 months. With Blackstone, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Blackstone pay a dividend?
Yes. As of November 4, 2026, Blackstone pays $5.06 per share a year, which at today's price is a yield of 4.28%. It uses 111% of its profit to pay it, more than it earns, which cannot last forever. Its average dividend yield over the last five years is 3.21%. The financial services and payments median on Fintols is 0.81%.
Is Blackstone stock expensive?
It depends on what you compare it with. On P/E, Blackstone trades at 28.0x its last 12 months of earnings: in line with the financial services and payments median (27.9x). A high P/E alone does not make Blackstone expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Blackstone's competitors?
On Fintols we compare Blackstone with Robinhood, PayPal and Fiserv, which are also in financial services and payments. As of November 4, 2026, Robinhood is worth $78.7 billion and trades on a P/E of 40.3; PayPal is worth $50.0 billion and trades on a P/E of 11.5. Each has a side-by-side comparison with Blackstone below.
Blackstone competitors
- Robinhood (HOOD) analysis · Blackstone vs Robinhood comparison
- PayPal (PYPL) analysis · Blackstone vs PayPal comparison
- Fiserv (FI) analysis · Blackstone vs Fiserv comparison
To understand Blackstone better
- Economic Moats Explained: From Warren Buffett to AI
- Dividend Growth Investing: FCF Payout Ratio and Compounding
More companies like Blackstone: financial services and payments stocks and S&P 500 companies. Open the full BX analysis with its valuation and scenarios. Educational content about Blackstone, not investment advice.