| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 46 | 24.8x | 17.4x | Around median | |
Growth | 75 | 15.2% | 7.1% | Top tier | |
Quality | 88 | — | — | Top tier | |
Safety | 58 | — | — | Around median | |
Capital Return | 84 | 7.29% | 0.18% | Top tier | |
Momentum | 35 | -17.3% | 1.3% | Bottom tier | |
Sentiment | 83 | 14 | 3 | Top tier |
10-year US Treasury yield 5.31% as of 2026-10-05. Estimates computed from company data and analyst targets, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Blackstone Inc. is an alternative investment management company that manages strategies spanning private equity, real estate, credit, infrastructure, and BXMA, in addition to products aimed at insurance companies and individuals. Its revenue model is based on management fees, transaction and advisory fees, fee-related performance revenues, and realized proceeds upon exiting investments; assets under management reached a record $1.35 trillion in Q2 FY2026, up 11% year over year.
In Q2 FY2026, Blackstone reported GAAP net income of $2.4 billion and distributable earnings of $2 billion, or $1.52 per share, up 26% year over year. Fee-related earnings totaled $1.8 billion, or $1.43 per share, up 22%, while fee revenues rose 22% to $3 billion; the data did not include a comparable gross margin or operating margin.
Fee revenue growth was broad-based across the four segments in Q2 FY2026: 32% in private equity, 21% in real estate, 18% in BXMA, and 11% in credit. Transaction and advisory fees rose to a record $321 million, fee-related performance revenues increased 68% to $793 million, and net realized proceeds rose 27% to $414 million.
The analyst consensus for BX stock is "Buy," with an average price target of $145.89 and a range of $127 to $184. The average target falls within the 52-week range of $101.73–$190.09, and the highest target is approximately 3% below the top of that range, but the wide target range and absence of a published P/E multiple limit the precision of any valuation conclusion. The case for a re-rating depends on continued fee growth and the conversion of $7.5 billion of accrued performance revenue into realized proceeds, weighed against BCRED pressures and volatility in exits.
Figures in the text are as of 2026-08-26; the live price is shown at the top of the page.
Blackstone reported GAAP net income of $2.4 billion in Q2 FY2026. Distributable earnings were $2 billion, or $1.52 per share, up 26% year over year. Fee-related earnings also rose 22% to $1.8 billion, and fee revenues increased 22% to $3 billion. The company declared a distribution of $1.29 per share for shareholders of record on August 3, 2026.
The data center platform's total value reached $185 billion in Q2 FY2026, compared with $130 billion at the beginning of FY2026. The platform owns 15 gigawatts of sites capable of supporting $200 billion of data centers. Blackstone also invested up to an initial $5 billion in a cloud provider using Google's TPU chips and participated in a financing platform with Broadcom that provided $35 billion for one gigawatt of computing capacity. AI-related assets accounted for nine of the company's ten largest investment valuation increases during the quarter.
Inflows totaled approximately $70 billion in Q2 FY2026 and more than $260 billion over the twelve months ended that quarter. Assets under management rose 11% to a record $1.35 trillion. Infrastructure assets grew 40% to $90 billion, while BXMA assets increased 21% to $109 billion. In the private wealth channel, assets under management rose 16% to $324 billion, with quarterly sales of $8.6 billion.
Automated analysis for informational purposes only — not investment advice.
Redemption requests in BCRED exceeded the 5% limit during Q2 FY2026, and only approximately half were fulfilled, resulting in net outflows of $1.2 billion. By contrast, repurchases in BREIT declined 42% annually and 33% compared with Q1 FY2026, and its net asset value was $57 billion. Data centers became 27% of BREIT's portfolio, supporting a net return of 10.3% over the twelve months ended in the quarter. However, this concentration increases BREIT's sensitivity to data center performance and the availability of power and permits.
Net accrued performance revenue reached $7.5 billion, or $6 per share, in Q2 FY2026, the highest level in four years. Blackstone completed three IPOs since May 2026 and had eight IPOs registered globally at the July 23, 2026 call, which could expand exit opportunities over time. The company maintains a policy targeting the return of 100% of its cash earnings over time through distributions and a moderate share repurchase program. However, management expects a sequential slowdown in net realized proceeds during Q3 FY2026, so the trajectory of earnings and distributions may remain volatile.
