Blackstone Inc. (BX)财务
NYSE · Financial Services · Asset Management · 员工5,285人 · CEO Stephen Allen Schwarzman
- 股价
- $118.51 -1.73%
- 市值
- $1380亿
- 企业价值
- $1490亿
- 最近财报
- Q3 '26 2026-10-22提交
- 下次财报
- 2027-02-04
营收(TTM)$163亿+32.6% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)52.0%+0.1 百分点 对比去年同期营业利润 $84.8亿
净利润(TTM)$35.6亿+31.3% 对比去年同期税后,含营业外收益
自由现金流(TTM)$28.4亿-22.2% 对比去年同期资本支出 $8770万
稀释EPS(TTM)$4.53+29.4% 对比去年同期最近4个季度之和
净现金-$110亿-5.1% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $1380亿 EV $1490亿
- 营收
- $163亿 过去12个月
- 营收增速
- +6% FY2026年一致预期
- 净利润率
- 21.8% 净利润 / 营收,TTM
- P/E
- 26.2× 预期 20.2×(FY2026)
- P/S
- 8.5× 股价 / 营收,TTM
- EV / EBITDA
- 17.3× TTM
- 自由现金流
- $28.4亿 过去12个月
- 净利润
- $35.6亿 过去12个月
- 营收预期
- $147亿 FY2026年一致预期
- 盈利
- 2027-02-04
- 股息
- $5.23 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 营收增长放缓:同比8.9%Q3 '26营收$30.6亿,此前四个季度的平均值为29.1%。
- 营业利润率52.0%(TTM),较去年同期+0.1 百分点营收增长32.6%,营业利润增长33.0%。
- 资本支出占营收的0.5%(去年为0.9%)最近4个季度投入$8770万(同比-16.6%)。自由现金流$28.4亿,相当于净利润的79.9%。
- 股东回报$52亿 = 自由现金流的183.1%回购$1.6亿(去年为$3.21亿),股息$50.4亿,股权激励-$2320万(TTM)。 超过自由现金流:由现金储备或举债支付。
- 稀释股数一年内增加2.2%Q3 '26稀释股数8亿,一年前为7.82亿。
- 净债务 $110亿现金 + 短期投资 $32.1亿,含租赁债务 $142亿;一年前净债务 $105亿。
上一季度:Q3 '26
截至2026-09-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $30.6亿 | $28.1亿 | +8.9% |
| 毛利率 | 99.7% | 95.5% | +4.2 百分点 |
| 营业利润 | $15.7亿 | $14.5亿 | +8.6% |
| 营业利润率 | 51.3% | 51.4% | -0.2 百分点 |
| 净利润 | $6.62亿 | $6.25亿 | +6.0% |
| 稀释EPS | $0.83 | $0.80 | +3.7% |
| 经营现金流 | $0 | $16亿 | -100.0% |
| 资本支出 | $0 | $2390万 | -100.0% |
| 自由现金流 | $0 | $15.7亿 | -100.0% |
| R&D | $0 | $0 | – |
| 股权激励费用 | -$1.93亿 | $0 | – |
营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Total investment income | $24.7亿 | – | 49.0% | – | – | |
| Management and advisory fees, net | $22.7亿 | – | 44.9% | – | – | |
| Private Equity Segment | – | – | – | – | – | |
| Real Estate Segment | – | – | – | – | – | |
| Incentive fees | $1.59亿 | – | 3.2% | – | – | |
| Interest and dividend revenue | $1.34亿 | – | 2.7% | – | – | |
| Other | $1190万 | – | 0.2% | – | – |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $29.3亿
- 资本支出
- -$8770万
- 股票回购
- -$1.6亿
- 股息
- -$50.4亿
- 收购
- $0
- 债务净发行
- $14.7亿
- 股权激励费用
- -$2320万
- 自由现金流
- $28.4亿
- 股东回报 / FCF
- 183.1%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 26.2× | 40.9× | 15.9× – 69.7× |
| EV / EBITDA | 17.3× | 30.0× | 11.0× – 52.7× |
| EV / 营收 | 9.2× | 15.1× | 8.9× – 21.2× |
| 股价 / FCF | 48.6× | 33.1× | 9.0× – 69.0× |
| 股价 / 净资产 | 10.7× | 12.3× | 7.2× – 16.1× |
| FCF收益率 | 2.1% | 4.7% | 1.4% – 11.1% |
| 投入资本回报率 | 17.3% | 14.5% | 6.5% – 31.5% |
| 净资产收益率 | 40.8% | 34.8% | 20.4% – 62.2% |
分析师
一致目标价 $143.45 (+21.0%)
区间 $118.00 – $169.00 · 评级 Buy
强烈买入0
买入19
持有10
卖出1
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $147亿 | +6.1% | $5.86 | +50.9% | 20.2× | 16 |
| FY2027 | $185亿 | +25.9% | $7.31 | +24.8% | 16.2× | 17 |
| FY2028 | $195亿 | +5.7% | $7.89 | +8.0% | 15.0× | 15 |
| FY2029 | $141亿 | -28.0% | $8.88 | +12.5% | 13.4× | 9 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Blackstone Inc.在近期10-Q / 10-K文件中标记的全部204项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable and Accrued Liabilities | $31亿 | $25亿 | +24.2% | $28.9亿 | $27.9亿 | +3.3% |
| Accounts Receivable, after Allowance for Credit Loss | $6.92亿 | $3.58亿 | +93.4% | $2.92亿 | $2.38亿 | +22.6% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $4.69亿 | $4.07亿 | +15.4% | $4.31亿 | $4.83亿 | -10.7% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$1860万 | $106万 | -1,862.0% | -$601万 | -$4030万 | +85.1% |
| Additional Paid in Capital, Common Stock | $90.5亿 | $79.9亿 | +13.3% | $84.8亿 | $74.4亿 | +13.9% |
| Alternative Investment | $11亿 | $1.42亿 | +676.6% | $8.96亿 | $5.43亿 | +65.0% |
| Amortization of Intangible Assets | $900万 | $900万 | 0.0% | $3600万 | $3600万 | +0.2% |
| Assets | $499亿 | $454亿 | +10.0% | $477亿 | $435亿 | +9.8% |
| Assets, Fair Value Disclosure | $68.7亿 | $44.6亿 | +53.9% | $50.9亿 | $47.3亿 | +7.8% |
| Cash and Cash Equivalents, at Carrying Value | $25.1亿 | $22.4亿 | +12.1% | $26.3亿 | $19.7亿 | +33.4% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $27.7亿 | $25.5亿 | +8.8% | $28.5亿 | $21.8亿 | +31.2% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $6290万 | -$8.5亿 | +107.4% | $6.78亿 | -$11亿 | +161.9% |
| Common Stock, Dividends, Per Share, Declared | $1.16 | $0.93 | +24.7% | $4.69 | $3.45 | +35.9% |
| Common Stock, Par or Stated Value Per Share | $0.00 | $0.00 | 0.0% | $0.00 | $0.00 | 0.0% |
| Common Stock, Shares Authorized | 900亿 | 900亿 | 0.0% | 900亿 | 900亿 | 0.0% |
| Common Stock, Shares, Issued | 7.53亿 | 7.39亿 | +1.8% | 7.49亿 | 7.32亿 | +2.3% |
| Common Stock, Shares, Outstanding | 7.53亿 | 7.39亿 | +1.8% | 7.49亿 | 7.32亿 | +2.3% |
| Common Stock, Value, Issued | $7000 | $7000 | 0.0% | $7000 | $7000 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $11.2亿 | $9.97亿 | +12.4% | $31.9亿 | $26.1亿 | +22.5% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $12.3亿 | $7.94亿 | +54.4% | $30.5亿 | $27.6亿 | +10.8% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $23.5亿 | $17.9亿 | +31.0% | $62.5亿 | $53.6亿 | +16.5% |
| Costs and Expenses | $23.8亿 | $19.3亿 | +22.9% | $77亿 | $68.2亿 | +13.0% |
| Current Federal Tax Expense (Benefit) | – | – | – | $3.55亿 | $4.25亿 | -16.5% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $1.42亿 | $1.29亿 | +10.4% |
| Current Income Tax Expense (Benefit) | – | – | – | $6.84亿 | $6.74亿 | +1.4% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $1.87亿 | $1.2亿 | +55.2% |
| Debt Instrument, Fair Value Disclosure | $120亿 | $108亿 | +10.7% | $114亿 | $99.4亿 | +14.6% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $3.63亿 | $2.66亿 | +36.6% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$382万 | -$47.1万 | -711.7% |
| Deferred Income Tax Assets, Net | $18.8亿 | $21.1亿 | -10.8% | $20.6亿 | $20亿 | +2.6% |
| Deferred Income Tax Expense (Benefit) | – | – | – | $4.41亿 | $3.48亿 | +26.9% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | $8230万 | $8250万 | -0.3% |
| Deferred Tax Assets, Gross | $20.9亿2025-12-31 | $20.3亿 | +3.3% | $20.9亿 | $20.3亿 | +3.3% |
| Deferred Tax Assets, Other | $2.12亿2025-12-31 | $2.88亿 | -26.4% | $2.12亿 | $2.88亿 | -26.4% |
| Deferred Tax Assets, Unrealized Losses on Available-for-Sale Securities, Gross | $18.8亿2025-12-31 | $17.4亿 | +8.2% | $18.8亿 | $17.4亿 | +8.2% |
| Deferred Tax Assets, Valuation Allowance | $3560万 | – | – | $3540万 | $2120万 | +66.8% |
| Deferred Tax Liabilities, Gross | $1650万2025-12-31 | $1420万 | +15.7% | $1650万 | $1420万 | +15.7% |
| Deferred Tax Liabilities, Other | $168万2025-12-31 | $195万 | -13.9% | $168万 | $195万 | -13.9% |
| Depreciation | – | – | – | $9800万 | $9880万 | -0.8% |
| Derivative Asset, Fair Value, Gross Asset | $1.58亿 | $1.46亿 | +8.5% | $1.47亿 | $1.94亿 | -23.9% |
| Derivative Asset, Notional Amount | $21.2亿 | $19亿 | +11.5% | $19.6亿 | $17.1亿 | +14.8% |
| Derivative Liability, Fair Value, Gross Liability | $12.7亿 | $12.2亿 | +3.9% | $12.5亿 | $10.8亿 | +16.3% |
| Derivative Liability, Notional Amount | $35.3亿 | $37.8亿 | -6.6% | $39.8亿 | $31.3亿 | +26.8% |
| Derivative Liability, Securities Sold under Agreements to Repurchase, Securities Loaned | $4.55亿 | $2.65亿 | +72.0% | $4.17亿 | $1.44亿 | +188.7% |
| Derivative Liability, Securities Sold under Agreements to Repurchase, Securities Loaned, Amount Offset Against Collateral | $779万 | $2540万 | -69.3% | $1640万 | $1250万 | +31.5% |
| Derivative Liability, Securities Sold under Agreements to Repurchase, Securities Loaned, Collateral, Right to Reclaim Cash | $2.1万 | $7.6万 | -72.4% | $3.2万 | $1万 | +220.0% |
| Derivative Liability, Securities Sold under Agreements to Repurchase, Securities Loaned, Collateral, Right to Reclaim Securities | $4.47亿 | $2.39亿 | +87.1% | $4亿 | $1.32亿 | +203.6% |
| Earnings Per Share, Basic | $1.54 | $0.98 | +57.1% | $3.87 | $3.62 | +6.9% |
| Earnings Per Share, Diluted | $1.54 | $0.98 | +57.1% | $3.87 | $3.62 | +6.9% |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | -$178万 | $1230万 | -114.5% | $984万 | -$1460万 | +167.5% |
| Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount | – | – | – | $7620万 | – | – |
| Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent | – | – | – | 1.1% | – | – |
| Effective Income Tax Rate Reconciliation, Noncontrolling Interest Income (Loss), Amount | – | – | – | $6.33亿 | – | – |
| Effective Income Tax Rate Reconciliation, Noncontrolling Interest Income (Loss), Percent | – | – | – | 8.8% | 9.0% | -2.2% |
| Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other, Amount | – | – | – | $3050万 | – | – |
| Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other, Percent | – | – | – | 0.4% | – | – |
| Effective Income Tax Rate Reconciliation, Other Adjustments, Amount | – | – | – | -$6190万 | – | – |
| Effective Income Tax Rate Reconciliation, Other Adjustments, Percent | – | – | – | -0.9% | 0.9% | -200.0% |
| Effective Income Tax Rate Reconciliation, Percent | – | – | – | 15.7% | 15.8% | -0.6% |
| Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount | – | – | – | $2.07亿 | – | – |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
数据截至 2026-11-01