Blackstone Inc. (BX) Q2 FY2026 Financial Statements: Revenue $5.04B, Net income attributable to Blackstone $1.23B
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PeriodQ2 FY2026
Published
Blackstone reported $5.04 billion in total revenues for Q2 FY2026, the quarter ended June 30, 2026, up 35.9% from a year earlier, and net income attributable to Blackstone Inc. of $1.23 billion, up 60.8%. Most of the revenue increase came from performance allocations - the carried interest Blackstone accrues on gains in its funds - led by realized and unrealized gains in real estate funds, rather than from management fees. A swing to foreign exchange gains in other revenue added to the increase. Fee-related earnings were $1.78 billion, up 22.2%, and distributable earnings were $1.98 billion, up 26.3%. Total assets under management stood at $1.35 trillion at quarter end, up 11.2%.
| Metric | Amount | vs. year ago |
|---|---|---|
| Revenue | $5,043,978,000 | up 35.9% |
| Net income attributable to Blackstone | $1,229,189,000 | up 60.8% |
| Diluted EPS | $1.54 | up 57.1% |
| Distributable earnings | $1,977,249,000 | up 26.3% |
| Fee-related earnings | $1,783,428,000 | up 22.2% |
| Total assets under management | $1,346,263,835,000 | up 11.2% |
About this file
| Ticker | BX |
|---|---|
| CIK | 0001393818 |
| Company | Blackstone Inc. |
| Business type | alternative asset manager |
| Schema template | alternative asset manager: GAAP revenues by fee type (management and advisory fees, incentive fees, investment income), GAAP expenses, net income split between Blackstone Inc. and non-controlling interests, and per-share amounts; alongside the measures Blackstone manages the firm on -- Fee Related Earnings, Segment Distributable Earnings, Distributable Earnings and Adjusted EBITDA -- and the capital metrics that drive them: Total and Fee-Earning Assets Under Management, Perpetual Capital and Net Accrued Performance Revenues. A revenue/cost-of-goods/capex frame does not describe this business. |
| Reporting currency | USD |
| Converted to USD | no |
| Units | actual dollars (not thousands); per-share amounts and share counts as reported |
BX annual income statement, balance sheet and cash flow
| FY2025 | FY2024 | FY2023 | |
|---|---|---|---|
| Fiscal year | 2025 | 2024 | 2023 |
| Label | FY2025 | FY2024 | FY2023 |
| Period start | 2025-01-01 | 2024-01-01 | 2023-01-01 |
| Period end | 2025-12-31 | 2024-12-31 | 2023-12-31 |
| Period type | fiscal year | fiscal year | fiscal year |
| Source accession | 0001193125-26-082531 | 0001193125-26-082531 | 0001193125-26-082531 |
| Income statement | |||
| Management and advisory fees net | 8,075,601,000.0 | 7,188,936,000.0 | 6,671,260,000.0 |
| Incentive fees | 978,202,000.0 | 964,178,000.0 | 695,171,000.0 |
| Total investment income | 5,251,242,000.0 | 4,542,002,000.0 | 232,842,000.0 |
| Interest and dividend revenue | 416,093,000.0 | 411,159,000.0 | 516,497,000.0 |
| Other revenue | -270,873,000.0 | 123,693,000.0 | -92,929,000.0 |
| Total revenues | 14,450,265,000.0 | 13,229,968,000.0 | 8,022,841,000.0 |
| Total compensation and benefits | 5,620,529,000.0 | 4,994,053,000.0 | 3,312,970,000.0 |
| General administrative and other | 1,524,548,000.0 | 1,361,909,000.0 | 1,117,305,000.0 |
| Interest expense | 508,314,000.0 | 443,688,000.0 | 431,868,000.0 |
| Fund expenses | 49,216,000.0 | 19,676,000.0 | 118,987,000.0 |
| Total expenses | 7,702,607,000.0 | 6,819,326,000.0 | 4,981,130,000.0 |
| Total other income | 423,988,000.0 | 48,838,000.0 | -83,997,000.0 |
| Income before provision for taxes | 7,171,646,000.0 | 6,459,480,000.0 | 2,957,714,000.0 |
| Provision for taxes | 1,125,023,000.0 | 1,021,671,000.0 | 513,461,000.0 |
| Net income | 6,046,623,000.0 | 5,437,809,000.0 | 2,444,253,000.0 |
| Net income attributable to noncontrolling interests | 3,027,409,000.0 | 2,661,301,000.0 | 1,053,373,000.0 |
| Net income attributable to blackstone inc | 3,019,214,000.0 | 2,776,508,000.0 | 1,390,880,000.0 |
| Basic EPS | 3.87 | 3.62 | 1.84 |
| Diluted EPS | 3.87 | 3.62 | 1.84 |
| Basic shares | 780,018,738 | 766,487,450 | 755,204,556 |
| Diluted shares | 780,215,856 | 766,646,508 | 755,419,936 |
| Dividends declared per share | 4.69 | 3.45 | 3.32 |
| Balance sheet | |||
| Cash and cash equivalents | 2,631,241,000.0 | 1,972,140,000.0 | |
| Cash held by blackstone funds and other | 223,441,000.0 | 204,052,000.0 | |
| Investments | 32,212,111,000.0 | 29,800,566,000.0 | |
| Accounts receivable | 291,758,000.0 | 237,930,000.0 | |
| Due from affiliates | 6,357,462,000.0 | 5,409,315,000.0 | |
| Intangible assets net | 131,359,000.0 | 165,243,000.0 | |
| Goodwill | 1,890,202,000.0 | 1,890,202,000.0 | |
| Total assets | 47,708,975,000.0 | 43,469,875,000.0 | |
| Loans payable | 12,445,144,000.0 | 11,320,956,000.0 | |
| Due to affiliates | 3,224,432,000.0 | 2,808,148,000.0 | |
| Accrued compensation and benefits | 6,411,389,000.0 | 6,087,700,000.0 | |
| Total liabilities | 25,827,803,000.0 | 23,974,860,000.0 | |
| Redeemable noncontrolling interests | 1,380,503,000.0 | 801,399,000.0 | |
| Total stockholders equity of blackstone inc | 8,665,526,000.0 | 8,212,321,000.0 | |
| Noncontrolling interests in consolidated entities | 7,224,211,000.0 | 6,154,943,000.0 | |
| Noncontrolling interests in blackstone holdings | 4,610,932,000.0 | 4,326,352,000.0 | |
| Total equity | 20,500,669,000.0 | 18,693,616,000.0 | |
| Total liabilities and equity | 47,708,975,000.0 | 43,469,875,000.0 | |
| Common shares issued and outstanding | 748,688,068 | 731,925,965 | |
| Cash flow | |||
| Net cash provided by operating activities | 4,663,161,000.0 | 3,481,662,000.0 | 4,056,906,000.0 |
| Capex | -115,703,000.0 | -61,409,000.0 | -224,231,000.0 |
| Free cash flow | 4,547,458,000.0 | 3,420,253,000.0 | 3,832,675,000.0 |
| Net cash used in investing activities | -115,703,000.0 | -61,409,000.0 | -229,651,000.0 |
| Net cash used in financing activities | -3,878,805,000.0 | -4,501,561,000.0 | -5,053,895,000.0 |
| Non GAAP measures | |||
| Fee related earnings | 5,737,537,000.0 | 5,282,065,000.0 | 4,349,328,000.0 |
| Total segment distributable earnings | 7,882,214,000.0 | 6,710,376,000.0 | 5,625,345,000.0 |
| Distributable earnings | 7,110,864,000.0 | 5,966,742,000.0 | 5,060,955,000.0 |
| Adjusted EBITDA | 8,397,293,000.0 | 7,220,112,000.0 | 6,255,110,000.0 |
| Operating metrics | |||
| Total assets under management | 1,274,931,234,000.0 | 1,127,179,996,000.0 | 1,040,192,447,000.0 |
| Fee earning assets under management | 921,674,454,000.0 | 830,708,603,000.0 | 762,607,902,000.0 |
| Perpetual capital assets under management | 523,600,000,000.0 | 444,800,000,000.0 | n/a |
| Net accrued performance revenues | 6,742,522,000.0 | 6,280,556,000.0 | n/a |
| Total assets under management inflows | 239,385,147,000.0 | 171,458,637,000.0 | 148,518,413,000.0 |
| Segment results | |||
| Real estate | |||
| Fee related earnings | 2,211,279,000.0 | 2,023,416,000.0 | 2,136,668,000.0 |
| Segment distributable earnings | 2,360,380,000.0 | 2,137,901,000.0 | 2,265,355,000.0 |
| Total assets under management | 319,342,875,000.0 | 315,353,132,000.0 | 336,940,096,000.0 |
| Fee earning assets under management | 279,427,148,000.0 | 278,914,938,000.0 | 298,889,475,000.0 |
| Private equity | |||
| Fee related earnings | 1,875,834,000.0 | 1,828,162,000.0 | 1,058,693,000.0 |
| Segment distributable earnings | 2,907,499,000.0 | 2,639,474,000.0 | 1,894,624,000.0 |
| Total assets under management | 416,423,156,000.0 | 352,168,635,000.0 | 314,391,397,000.0 |
| Fee earning assets under management | 240,959,058,000.0 | 212,182,896,000.0 | 176,997,265,000.0 |
| Credit and insurance | |||
| Fee related earnings | 1,397,350,000.0 | 1,201,925,000.0 | 950,491,000.0 |
| Segment distributable earnings | 1,958,456,000.0 | 1,425,058,000.0 | 1,149,653,000.0 |
| Total assets under management | 442,951,606,000.0 | 375,507,818,000.0 | 312,674,037,000.0 |
| Fee earning assets under management | 315,640,583,000.0 | 264,617,560,000.0 | 218,188,936,000.0 |
| Multi asset investing | |||
| Fee related earnings | 253,074,000.0 | 228,562,000.0 | 203,476,000.0 |
| Segment distributable earnings | 655,879,000.0 | 507,943,000.0 | 315,713,000.0 |
| Total assets under management | 96,213,597,000.0 | 84,150,411,000.0 | 76,186,917,000.0 |
| Fee earning assets under management | 85,647,665,000.0 | 74,993,209,000.0 | 68,532,226,000.0 |
BX quarterly income statement, balance sheet and cash flow
| Q2 2026 | Q2 2025 | |
|---|---|---|
| Label | Q2 2026 | Q2 2025 |
| Fiscal year | 2026 | 2025 |
| Fiscal quarter | 2 | 2 |
| Period start | 2026-04-01 | 2025-04-01 |
| Period end | 2026-06-30 | 2025-06-30 |
| Period type | three months | three months |
| Source accession | 0001193125-26-340208 | 0001193125-26-340208 |
| Income statement | ||
| Management and advisory fees net | 2,266,006,000.0 | 2,035,495,000.0 |
| Incentive fees | 159,080,000.0 | 195,414,000.0 |
| Total investment income | 2,472,721,000.0 | 1,605,665,000.0 |
| Interest and dividend revenue | 134,224,000.0 | 100,389,000.0 |
| Other revenue | 11,947,000.0 | -225,063,000.0 |
| Total revenues | 5,043,978,000.0 | 3,711,900,000.0 |
| Total compensation and benefits | 1,814,135,000.0 | 1,421,530,000.0 |
| General administrative and other | 409,110,000.0 | 360,817,000.0 |
| Interest expense | 145,023,000.0 | 135,822,000.0 |
| Fund expenses | 7,344,000.0 | 14,434,000.0 |
| Total expenses | 2,375,612,000.0 | 1,932,603,000.0 |
| Total other income | 140,086,000.0 | 136,330,000.0 |
| Income before provision for taxes | 2,808,452,000.0 | 1,915,627,000.0 |
| Provision for taxes | 452,386,000.0 | 289,494,000.0 |
| Net income | 2,356,066,000.0 | 1,626,133,000.0 |
| Net income attributable to noncontrolling interests | 1,126,877,000.0 | 861,889,000.0 |
| Net income attributable to blackstone inc | 1,229,189,000.0 | 764,244,000.0 |
| Basic EPS | 1.54 | 0.98 |
| Diluted EPS | 1.54 | 0.98 |
| Basic shares | 799,882,459 | 782,386,121 |
| Diluted shares | 799,897,435 | 782,401,237 |
| Dividends declared per share | 1.16 | 0.93 |
| Balance sheet | ||
| Cash and cash equivalents | 2,507,073,000.0 | |
| Cash held by blackstone funds and other | 266,230,000.0 | |
| Investments | 34,587,729,000.0 | |
| Accounts receivable | 692,055,000.0 | |
| Due from affiliates | 6,218,066,000.0 | |
| Intangible assets net | 113,288,000.0 | |
| Goodwill | 1,890,202,000.0 | |
| Total assets | 49,892,220,000.0 | |
| Loans payable | 13,194,730,000.0 | |
| Due to affiliates | 3,484,356,000.0 | |
| Accrued compensation and benefits | 6,844,156,000.0 | |
| Total liabilities | 27,458,992,000.0 | |
| Redeemable noncontrolling interests | 1,371,083,000.0 | |
| Total stockholders equity of blackstone inc | 9,014,543,000.0 | |
| Noncontrolling interests in consolidated entities | 7,104,291,000.0 | |
| Noncontrolling interests in blackstone holdings | 4,943,311,000.0 | |
| Total equity | 21,062,145,000.0 | |
| Total liabilities and equity | 49,892,220,000.0 | |
| Common shares issued and outstanding | 752,601,287 | |
| Non GAAP measures | ||
| Fee related earnings | 1,783,428,000.0 | 1,459,503,000.0 |
| Total segment distributable earnings | 2,197,688,000.0 | 1,785,421,000.0 |
| Distributable earnings | 1,977,249,000.0 | 1,565,763,000.0 |
| Adjusted EBITDA | 2,357,684,000.0 | 1,912,453,000.0 |
| Operating metrics | ||
| Total assets under management | 1,346,263,835,000.0 | 1,211,207,341,000.0 |
| Fee earning assets under management | 961,592,654,000.0 | 887,114,205,000.0 |
| Perpetual capital assets under management | 555,600,000,000.0 | n/a |
| Net accrued performance revenues | 7,467,901,000.0 | 6,607,543,000.0 |
| Total assets under management inflows | 68,300,041,000.0 | 52,077,234,000.0 |
| Segment results | ||
| Real estate | ||
| Fee related earnings | 613,007,000.0 | 543,625,000.0 |
| Segment distributable earnings | 745,276,000.0 | 565,870,000.0 |
| Total assets under management | 314,149,797,000.0 | 324,994,725,000.0 |
| Fee earning assets under management | 277,420,420,000.0 | 285,826,676,000.0 |
| Private equity | ||
| Fee related earnings | 716,924,000.0 | 519,404,000.0 |
| Segment distributable earnings | 981,479,000.0 | 751,419,000.0 |
| Total assets under management | 454,152,320,000.0 | 388,907,242,000.0 |
| Fee earning assets under management | 267,817,860,000.0 | 232,160,209,000.0 |
| Credit and insurance | ||
| Fee related earnings | 370,070,000.0 | 333,025,000.0 |
| Segment distributable earnings | 373,242,000.0 | 395,785,000.0 |
| Total assets under management | 469,317,440,000.0 | 407,296,172,000.0 |
| Fee earning assets under management | 318,240,694,000.0 | 288,931,236,000.0 |
| Multi asset investing | ||
| Fee related earnings | 83,427,000.0 | 63,449,000.0 |
| Segment distributable earnings | 97,691,000.0 | 72,347,000.0 |
| Total assets under management | 108,644,278,000.0 | 90,009,202,000.0 |
| Fee earning assets under management | 98,113,680,000.0 | 80,196,084,000.0 |
BX year-to-date income statement and cash flow
| Six Months Ended June 30, 2026 | |
|---|---|
| Label | Six Months Ended June 30, 2026 |
| Period start | 2026-01-01 |
| Period end | 2026-06-30 |
| Period type | six months |
| Source accession | 0001193125-26-340208 |
| Income statement | |
| Management and advisory fees net | 4,414,626,000.0 |
| Incentive fees | 324,499,000.0 |
| Total investment income | 3,617,364,000.0 |
| Interest and dividend revenue | 242,164,000.0 |
| Other revenue | 62,920,000.0 |
| Total revenues | 8,661,573,000.0 |
| Total compensation and benefits | 3,558,550,000.0 |
| General administrative and other | 781,931,000.0 |
| Interest expense | 282,076,000.0 |
| Fund expenses | 15,348,000.0 |
| Total expenses | 4,637,905,000.0 |
| Total other income | 239,841,000.0 |
| Income before provision for taxes | 4,263,509,000.0 |
| Provision for taxes | 649,536,000.0 |
| Net income | 3,613,973,000.0 |
| Net income attributable to noncontrolling interests | 1,735,055,000.0 |
| Net income attributable to blackstone inc | 1,878,918,000.0 |
| Basic EPS | 2.37 |
| Diluted EPS | 2.37 |
| Basic shares | 792,647,549 |
| Diluted shares | 793,137,073 |
| Dividends declared per share | 2.65 |
| Cash flow | |
| Net cash provided by operating activities | 2,932,450,000.0 |
| Capex | -65,372,000.0 |
| Free cash flow | 2,867,078,000.0 |
| Net cash used in investing activities | -65,372,000.0 |
| Net cash used in financing activities | -2,938,737,000.0 |
| Non GAAP measures | |
| Fee related earnings | 3,331,409,000.0 |
| Total segment distributable earnings | 4,194,080,000.0 |
| Distributable earnings | 3,742,087,000.0 |
| Adjusted EBITDA | 4,488,154,000.0 |
| Operating metrics | |
| Total assets under management | 1,346,263,835,000.0 |
| Fee earning assets under management | 961,592,654,000.0 |
| Perpetual capital assets under management | 555,600,000,000.0 |
| Net accrued performance revenues | 7,467,901,000.0 |
| Total assets under management inflows | 136,841,360,000.0 |
| Segment results | |
| Real estate | |
| Fee related earnings | 1,160,145,000.0 |
| Segment distributable earnings | 1,302,727,000.0 |
| Total assets under management | 314,149,797,000.0 |
| Fee earning assets under management | 277,420,420,000.0 |
| Private equity | |
| Fee related earnings | 1,313,802,000.0 |
| Segment distributable earnings | 1,967,158,000.0 |
| Total assets under management | 454,152,320,000.0 |
| Fee earning assets under management | 267,817,860,000.0 |
| Credit and insurance | |
| Fee related earnings | 701,904,000.0 |
| Segment distributable earnings | 746,300,000.0 |
| Total assets under management | 469,317,440,000.0 |
| Fee earning assets under management | 318,240,694,000.0 |
| Multi asset investing | |
| Fee related earnings | 155,558,000.0 |
| Segment distributable earnings | 177,895,000.0 |
| Total assets under management | 108,644,278,000.0 |
| Fee earning assets under management | 98,113,680,000.0 |
| Prior year comparative | |
| Label | Six Months Ended June 30, 2025 |
| Period start | 2025-01-01 |
| Period end | 2025-06-30 |
| Period type | six months |
| Source accession | 0001193125-26-340208 |
| Income statement | |
| Management and advisory fees net | 3,939,812,000.0 |
| Incentive fees | 387,239,000.0 |
| Total investment income | 2,775,171,000.0 |
| Interest and dividend revenue | 197,809,000.0 |
| Other revenue | -298,673,000.0 |
| Total revenues | 7,001,358,000.0 |
| Total compensation and benefits | 2,853,370,000.0 |
| General administrative and other | 693,190,000.0 |
| Interest expense | 253,937,000.0 |
| Fund expenses | 26,538,000.0 |
| Total expenses | 3,827,035,000.0 |
| Total other income | 193,905,000.0 |
| Income before provision for taxes | 3,368,228,000.0 |
| Provision for taxes | 533,321,000.0 |
| Net income | 2,834,907,000.0 |
| Net income attributable to noncontrolling interests | 1,455,811,000.0 |
| Net income attributable to blackstone inc | 1,379,096,000.0 |
| Basic EPS | 1.77 |
| Diluted EPS | 1.77 |
| Basic shares | 777,120,501 |
| Diluted shares | 777,447,168 |
| Dividends declared per share | 2.37 |
| Cash flow | |
| Net cash provided by operating activities | 1,997,721,000.0 |
| Capex | -69,424,000.0 |
| Free cash flow | 1,928,297,000.0 |
| Net cash used in investing activities | -69,424,000.0 |
| Net cash used in financing activities | -1,571,881,000.0 |
| Non GAAP measures | |
| Fee related earnings | 2,721,559,000.0 |
| Total segment distributable earnings | 3,404,486,000.0 |
| Distributable earnings | 2,976,568,000.0 |
| Adjusted EBITDA | 3,651,164,000.0 |
| Operating metrics | |
| Total assets under management | 1,211,207,341,000.0 |
| Fee earning assets under management | 887,114,205,000.0 |
| Perpetual capital assets under management | n/a |
| Net accrued performance revenues | 6,607,543,000.0 |
| Total assets under management inflows | 113,711,918,000.0 |
| Segment results | |
| Real estate | |
| Fee related earnings | 1,028,470,000.0 |
| Segment distributable earnings | 1,061,304,000.0 |
| Total assets under management | 324,994,725,000.0 |
| Fee earning assets under management | 285,826,676,000.0 |
| Private equity | |
| Fee related earnings | 895,887,000.0 |
| Segment distributable earnings | 1,316,010,000.0 |
| Total assets under management | 388,907,242,000.0 |
| Fee earning assets under management | 232,160,209,000.0 |
| Credit and insurance | |
| Fee related earnings | 677,381,000.0 |
| Segment distributable earnings | 899,146,000.0 |
| Total assets under management | 407,296,172,000.0 |
| Fee earning assets under management | 288,931,236,000.0 |
| Multi asset investing | |
| Fee related earnings | 119,821,000.0 |
| Segment distributable earnings | 128,026,000.0 |
| Total assets under management | 90,009,202,000.0 |
| Fee earning assets under management | 80,196,084,000.0 |
BX trailing twelve month income statement and cash flow
| Twelve Months Ended June 30, 2026 | |
|---|---|
| Label | Twelve Months Ended June 30, 2026 |
| Period start | 2025-07-01 |
| Period end | 2026-06-30 |
| Period type | trailing twelve months |
| Source accession | 0001193125-26-340208 |
| Basis | Derived as the fiscal year ended December 31, 2025 (Form 10-K, accession 0001193125-26-082531) less the six months ended June 30, 2025 plus the six months ended June 30, 2026 (Form 10-Q, accession 0001193125-26-340208). |
| Income statement | |
| Management and advisory fees net | 8,550,415,000.0 |
| Incentive fees | 915,462,000.0 |
| Total investment income | 6,093,435,000.0 |
| Interest and dividend revenue | 460,448,000.0 |
| Other revenue | 90,720,000.0 |
| Total revenues | 16,110,480,000.0 |
| Total compensation and benefits | 6,325,709,000.0 |
| General administrative and other | 1,613,289,000.0 |
| Interest expense | 536,453,000.0 |
| Fund expenses | 38,026,000.0 |
| Total expenses | 8,513,477,000.0 |
| Total other income | 469,924,000.0 |
| Income before provision for taxes | 8,066,927,000.0 |
| Provision for taxes | 1,241,238,000.0 |
| Net income | 6,825,689,000.0 |
| Net income attributable to noncontrolling interests | 3,306,653,000.0 |
| Net income attributable to blackstone inc | 3,519,036,000.0 |
| Cash flow | |
| Net cash provided by operating activities | 5,597,890,000.0 |
| Capex | -111,651,000.0 |
| Free cash flow | 5,486,239,000.0 |
| Net cash used in investing activities | -111,651,000.0 |
| Net cash used in financing activities | -5,245,661,000.0 |
| Non GAAP measures | |
| Fee related earnings | 6,347,387,000.0 |
| Total segment distributable earnings | 8,671,808,000.0 |
| Distributable earnings | 7,876,383,000.0 |
| Adjusted EBITDA | 9,234,283,000.0 |
| Operating metrics | |
| Total assets under management | 1,346,263,835,000.0 |
| Fee earning assets under management | 961,592,654,000.0 |
| Perpetual capital assets under management | 555,600,000,000.0 |
| Net accrued performance revenues | 7,467,901,000.0 |
| Total assets under management inflows | 262,514,589,000.0 |
Adjustments
| Value | |
|---|---|
| Splits applied | none |
| ADR ratio | n/a |
| FX | None. Blackstone reports in US dollars; no currency translation was applied. |
Source filings
| Role | Current | Form | Fiscal year | Fiscal period | Tag | Period end | Filed | Accession | Url | Source |
|---|---|---|---|---|---|---|---|---|---|---|
| annual | no | 10-K | 2025 | FY | FY25 | 2025-12-31 | 2026-02-27 | 0001193125-26-082531 | https://www.sec.gov/Archives/edgar/data/1393818/000119312526082531/0001193125-26-082531-index.htm | reported |
| quarterly | yes | 10-Q | 2026 | Q2 | FY26Q2 | 2026-06-30 | 2026-08-07 | 0001193125-26-340208 | https://www.sec.gov/Archives/edgar/data/1393818/000119312526340208/0001193125-26-340208-index.htm | facts |
Notes
- Blackstone is the world's largest alternative asset manager, organized into four segments: Real Estate, Private Equity, Credit & Insurance and Multi-Asset Investing. Its GAAP income statement consolidates certain funds it manages but does not own, so a large share of consolidated net income belongs to non-controlling interests. The line a common shareholder owns is Net Income Attributable to Blackstone Inc., and that is the figure the per-share amounts are calculated on.
- Periods covered. The FY2025 Form 10-K (accession 0001193125-26-082531) presents the statements of operations and cash flows for 2025, 2024 and 2023 and the statements of financial condition as of December 31, 2025 and 2024; FY2023 therefore carries an income statement and a cash flow statement but no balance sheet, because the 10-K does not print one for that date. The Q2 2026 Form 10-Q (accession 0001193125-26-340208) presents the three and six months ended June 30, 2026 and 2025, the balance sheet as of June 30, 2026 and December 31, 2025, and cash flows for the six-month periods only.
- Every figure in this record is stated in actual dollars. The 10-K and the 10-Q both print their statements in thousands of dollars, and each figure has been multiplied accordingly; share counts and per-share amounts are carried exactly as reported.
- Quarterly cash flow. The Q2 2026 10-Q's statements of cash flows are presented for the six months ended June 30, 2026 and 2025 only. No three-month cash flow column is published, so the Q2 2026 and Q2 2025 entries carry no cash flow block; the six-month figures appear under the year-to-date view instead.
- Non-GAAP measures. Fee Related Earnings, Total Segment Distributable Earnings, Distributable Earnings and Adjusted EBITDA are Blackstone's own measures, reconciled in both filings to Income Before Provision for Taxes. Distributable Earnings is Segment Distributable Earnings plus net interest and dividend income less taxes and related payables, and is the measure Blackstone uses to assess amounts available for dividends. They are taken from the reconciliation tables in the 10-K (accession 0001193125-26-082531) and the 10-Q (accession 0001193125-26-340208), not recomputed.
- Segment figures are presented on Blackstone's segment basis, which deconsolidates the funds it manages, removes intangible amortization and equity-based compensation, and excludes transaction-related and non-recurring items. Segment revenues therefore do not tie to the GAAP revenue lines in the same period, and are not meant to.
- Capital metrics are point-in-time balances as of each period end, except inflows, which are the amount raised during the period. Total and Fee-Earning Assets Under Management are taken from the rollforward tables, which are printed in thousands of dollars. Perpetual Capital Assets Under Management is stated by Blackstone in the narrative in billions rounded to one decimal place -- $555.6 billion at June 30, 2026, $523.6 billion at December 31, 2025 and $444.8 billion at December 31, 2024 -- so those three figures carry that rounding. Neither filing states Perpetual Capital as of June 30, 2025 or December 31, 2023, so those are left empty.
- Net Accrued Performance Revenues is the accrued performance revenue receivable net of the related accrued performance compensation, and is reconciled to GAAP Investments. The 10-Q's reconciliation compares June 30, 2026 with June 30, 2025 (not with December 31, 2025), which is why the June 2025 figure of $6.61 billion sits against the December 2025 figure of $6.74 billion from the 10-K.
- The trailing-twelve-month view is derived: the fiscal year ended December 31, 2025 less the six months ended June 30, 2025 plus the six months ended June 30, 2026. It carries no per-share amount or weighted-average share count, because neither filing publishes a weighted-average share count for a twelve-month period ending June 30.
- Capital expenditure for this business is the purchase of furniture, equipment and leasehold improvements -- the only investing outflow of that kind either filing reports. Free cash flow is operating cash flow less that amount. FY2023 investing activities also include $5.4 million paid for acquisitions, which is why net cash used in investing that year exceeds capital expenditure.
- Blackstone had 742,180,737 shares of common stock outstanding as of February 20, 2026 per the 10-K cover, and 750,625,114 as of July 31, 2026 per the 10-Q cover. The weighted-average diluted counts used for earnings per share are higher because they include unvested participating and vested deferred restricted shares.
- Dividends declared per share are as declared in each period: $1.16 in Q2 2026 against $0.93 in Q2 2025, and $4.69 for 2025 against $3.45 for 2024 and $3.32 for 2023. Blackstone's dividend varies with distributable earnings rather than being set at a fixed rate.
- No stock splits, ADR conversion or currency translation apply. Blackstone has had no stock split in the period covered, files as a domestic issuer, and reports in US dollars.
Uncertainties
- Operating and free cash flow for the three months ended June 30, 2026 and June 30, 2025 are not in this record. The Q2 2026 10-Q publishes cash flows for the six-month periods only, and no discrete quarterly cash flow statement is available in either filing read for this record, so a three-month figure could not be derived without reaching outside them.
- Perpetual Capital Assets Under Management as of June 30, 2025 and December 31, 2023 is not stated in either filing and is left empty, so the perpetual-capital series here cannot be read as a continuous quarter-by-quarter history.
- Net Accrued Performance Revenues as of December 31, 2023 is not presented in the FY2025 10-K, whose reconciliation shows only December 31, 2025 and 2024, so FY2023 carries no figure for it.
- The three Perpetual Capital figures are rounded by Blackstone to one decimal place in billions of dollars, so they are less precise than every other figure in this record, which is stated to the dollar.
- The trailing-twelve-month figures are arithmetic from three reported columns rather than a column Blackstone prints in the 10-K or 10-Q. They are internally consistent with those columns but are not, themselves, a reported period.
Company details
| Value | |
|---|---|
| Name | Blackstone Inc. |
| Ticker | BX |
| CIK | 0001393818 |
| Exchange | NYSE |
| State | New York |
| Incorporation | Delaware |
| SIC | 6282 |
| Office | Finance |
| Industry | Investment Advice |
Fiscal period
| FY2026 | |
|---|---|
| Fiscal year | 2026 |
| Fiscal period | Q2 |
| Tag | FY26Q2 |
| Period end | 2026-06-30 |
| Form | 10-Q |
| Accession | 0001193125-26-340208 |
| Fiscal year end | 1231 |
| Source | facts |
FAQ · Blackstone financial statements
How much revenue did Blackstone report in Q2 FY2026?
Blackstone reported $5.04 billion in total revenues for Q2 FY2026, the quarter ended June 30, 2026. That is up 35.9% from $3.71 billion in the same quarter a year earlier, with the increase driven mainly by investment income rather than by management and advisory fees.
What was Blackstone's net income and earnings per share in Q2 FY2026?
Blackstone reported net income attributable to Blackstone Inc. of $1.23 billion for Q2 FY2026, up 60.8% from $764.24 million a year earlier, and diluted earnings per share of $1.54 against $0.98.
How much money does Blackstone manage?
Blackstone held $1.35 trillion of total assets under management at June 30, 2026, up 11.2% from $1.21 trillion a year earlier. The firm describes itself as the world's largest alternative asset manager, investing across real estate, private equity, credit and insurance, and multi-asset strategies.
What were Blackstone's distributable earnings and fee-related earnings in Q2 FY2026?
Blackstone reported distributable earnings of $1.98 billion for Q2 FY2026, up 26.3% from $1.57 billion a year earlier, and fee-related earnings of $1.78 billion, up 22.2%. Both are non-GAAP measures that Blackstone reports alongside its GAAP results, and distributable earnings is the measure its quarterly dividend policy is based on.
Where can I get Blackstone Inc. (BX) financial data in machine-readable form?
Ticker Scout publishes Blackstone Inc.'s financial statements as JSON at https://tickerscout.ai/bx/financials.json, free, with no API key and no signup. The 10-K and 10-Q narrative and the 8-K events digest are published as Markdown at https://tickerscout.ai/bx/narrative.md and https://tickerscout.ai/bx/events.md. Blackstone Inc.'s SEC CIK is 0001393818. Every figure cites the SEC accession number it came from, so it can be checked against sec.gov.
When does Blackstone Inc. (BX) next file with the SEC?
Blackstone Inc. (BX) is expected to file its next Form 10-Q with the SEC on or around November 6, 2026. That date is a projection rather than a company-announced date: it is derived from Blackstone Inc.'s own filing history with the SEC, by taking the date the company filed the same fiscal period a year earlier and adding 52 weeks. The most recent periodic report on file is the 10-Q for Q2 FY2026, the period ended 2026-06-30, SEC accession 0001193125-26-340208.
How this page was built
This page was built from two of Blackstone Inc.'s own filings with the SEC, read one at a time. Nothing on it is taken from a pre-tagged dataset, a data vendor or another website. The figures are on the company's own fiscal calendar and in actual dollars, as the filings report them. Where the filings do not support a figure, the record says so instead of reporting a zero; this period names five such gaps.
A single company files thousands of pages with the SEC in a year, and no two companies file them the same way, so the reading and the assembly here are done by AI rather than by rules that break on the differences. Every pass is then audited back against the filings it came from before the page is published, and anything the filings do not support is left out and named rather than filled in. AI can still make mistakes. That is why the accession numbers are printed: the filing is the authority, and this page is a route to it.
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Built from Blackstone Inc.'s SEC filings by Ticker Scout; accession numbers are cited throughout so every figure can be checked against sec.gov. Free to cite with attribution: Ticker Scout (tickerscout.ai). Not investment advice, see the Disclaimer.