/
We seek to deliver compelling returns for institutional and individual investors by strengthening the companies and assets in which we invest. Our more than $1.3 trillion in Total Assets Under Management as of December 31, 2025 include global investment strategies focused on real estate, private equity, infrastructure, life sciences, growth equity, credit, real assets, secondaries and hedge funds.
$126.91
$2.06 (-1.60%)
EOD Jul 17, 2026
Margins and capital returns are both well above average: 46.70% operating margin, ROIC at 26.31%. Consistent with durable pricing power, though that alone doesn't make it a buy.
Revenue grew 9.2%, steady but not accelerating.
At 33x earnings, the current multiple leaves limited room for execution misses or growth deceleration.
32.5x earnings, 22.6x FCF. Not cheap, the quality is already reflected in the price. Upside from here requires either margin expansion or growth re-acceleration, not just continuation.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$14.78B
▲ +9.2% YoY
Net Income (TTM)
$3.05B
▲ +8.7% YoY
Op. Margin
45.39%
▼ -1.8pp YoY
ROIC
25.71%
▼ -0.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$4.43B
▲ +33.0% YoY
Op. Cash Flow (TTM)
$4.54B
▲ +33.9% YoY
Net Debt
$11.84B
Cash & Equiv.
$2.45B
5Y CAGR: +18.8%
5Y CAGR: +20.0%
Continue Research
At a P/E of 32.5 and a price-to-free-cash-flow of 22.6, Blackstone (BX) trades above a two-stage DCF intrinsic value of about $84.87 per share, so at $126.91 the stock looks overvalued (33.1% above estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Blackstone scores 56/100 on Intrinsiqq's quality scorecard (a mixed business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 6.1%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Intrinsiqq's two-stage DCF estimates an intrinsic value of about $84.87 per share for BX, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around $63.65. At today's $126.91, that puts the stock about 33.1% above estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Blackstone scores 56 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a mixed business on these measures. Recent fundamentals include a 45.4% operating margin and a 25.7% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Yes, Blackstone pays a regular dividend of about $7.72 per share per year (typically in quarterly installments), a yield of roughly 6.1% at the current price. That is a payout ratio of about 198.8% of earnings, so the dividend is stretched at this level. Blackstone has grown the dividend at roughly 6.9% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For BX's full payout history, growth streak and dividend-safety score, see the dividends tab.
That depends on valuation and quality together, not either alone. BX currently trades above its estimated intrinsic value and scores 56/100 on quality (mixed). It also yields about 6.1%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.