Blackstone Inc.

BXNYSEFinancial Services● Active

$115.33

$-0.02(-0.02%)

Market Cap$138.5B

P/E Ratio—

52W High$190.09

52W Low$101.73

Avg Volume7.4M

Open$115.55

Beta1.58

Overview

Blackstone Inc. (BX) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

BX · free cash flow · updated Jun 8, 2026

Core FCF metrics

BX · FCF · TTM · margin & CAGR

Free cash flow was $1.74B for FY2025 (fiscal year ending 2025-12-31), down 49.0% year-over-year The FCF margin was 12.6%. Five-year CAGR stands at -0.9%.

FY2025 Free Cash Flow$1.74B▼ -49.0% YoY

Trailing 12M (TTM)$3.35Btrailing 4 quarters sum

FCF Margin12.6%$1.74B ÷ revenue

3-Year CAGR-34.1%FY2022 → FY2025

5-Year CAGR-0.9%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

BX · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$1.86B(116M)$1.74B▼ 49.0%12.6%

FY2024$3.48B(61M)$3.42B▼ 10.8%30.1%

FY2023$4.06B(224M)$3.83B▼ 37.2%51.5%

FY2022$6.34B(235M)$6.10B▲ +55.6%81.9%

FY2021$3.99B(64M)$3.92B▲ +115.0%23.3%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

BX · P/FCF · FCF yield · FCF per share

Blackstone Inc. (BX) trades at a FCF yield of 2.42% and a price-to-free-cash-flow ratio of 26.8x. FCF per share stands at $4.30, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

2.42%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$4.30

TTM FCF ÷ Shares Outstanding

Price / FCF

x26.8

Share Price ÷ FCF per Share

EV / FCF (TTM)

x44.8

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

BX · cash flow statement · operating / investing / financing

For FY2025, Blackstone Inc. generated $1.86B in operating cash flow and spent 116M in capital expenditures, yielding $1.74B in free cash flow.

Operating Activities

+$1.86B

Cash from core business operations

2025-12-31

Investing Activities

+$5.28B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$6.40B

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($1.86B) − |CapEx| (116M) = FCF ($1.74B)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Financial Services)

BX vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Blackstone Inc.YOU

$1.74B-49.0%12.6%

Berkshire Hathaway Inc.

BRK-A

$25.04B+115.6%6.7%

25%

Berkshire Hathaway Inc.

Mastercard Incorporated

$16.91B+18.2%51.6%

17%

Financial Services · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Blackstone Inc. (BX) reported free cash flow of $1.74B for FY2025 (fiscal year ending 2025-12-31), down 49.0% year-over-year. The FCF margin was 12.6%.

Based on available data, Blackstone Inc. has maintained positive free cash flow for at least 13 fiscal year(s). FCF peaked at $6.10B in FY2022. The 5-year CAGR stands at -0.9%.

Blackstone Inc.'s FCF yield is 2.42% and price-to-FCF ratio is 26.8x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

BX free cash flow · 8 questions

Blackstone Inc. free cash flow was $1.74B for FY2025, down 49.0% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $3.35B.

BX free cash flowBX FCFBX FCF 2025BX free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Blackstone Inc. · Blackstone Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026