Blackstone Group
The Blackstone Group L.P. is a publicly owned alternative asset manager. The last earnings update was 11 days ago. More info.
Add to Portfolio Compare Print
- Blackstone Group is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
BX Share Price and Events
7 Day Returns
1 Year Returns
BX Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Blackstone Group (BX) | 4.8% | 5.3% | 21.3% | 28.3% | 61.1% | 30.4% |
| US Capital Markets | -2.6% | -3.8% | -0.2% | -12.3% | 50.3% | 63.5% |
| US Market | -0.7% | -2% | 2.4% | 3% | 39.2% | 42% |
1 Year Return vs Industry and Market
- BX outperformed the Capital Markets industry which returned -12.3% over the past year.
- BX outperformed the Market in United States of America which returned 3% over the past year.
Value
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Blackstone Group
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Blackstone Group.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | Excess Returns Model | |
| Stable EPS |
Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity = $7.90 * 23.9% |
$1.89 |
| Book Value of Equity per Share | Weighted future Book Value estimates from 2 analysts. | $7.90 |
| Discount Rate (Cost of Equity) | See below | 8% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6% |
| Capital Markets Unlevered Beta | Simply Wall St/ S&P Global | 0.69 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.694 (1 + (1- 21%) (23.26%)) |
0.88 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.88 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.88 * 5.96%) |
7.98% |
Discounted Cash Flow Calculation for NYSE:BX using Excess Returns Model Model
The calculations below outline how an intrinsic value for Blackstone Group is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.
In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.
The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.
Note the calculations below are per share.
See our documentation to learn about this calculation.
| Calculation | Result | |
|---|---|---|
| Excess Returns |
= (Stable Return on equity – Cost of equity) (Book Value of
Equity per share)
= (23.9% – 7.98%) * $7.90) |
$1.26 |
| Terminal Value of Excess Returns |
= Excess Returns / (Cost of Equity -
Expected Growth Rate)
= $1.26 / (7.98% - 2.73%) |
$23.94 |
| Value of Equity |
= Book Value per share + Terminal Value of
Excess Returns
= $7.90 + $23.94 |
$31.83 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $31.83 |
| Current discount | Discount to share price of
$40.65
= -1 x ($40.65 - $31.83) / $31.83 |
-27.7% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of Blackstone Group is above its future cash flow value.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Blackstone Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Blackstone Group's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in USD | $2.44 |
| NYSE:BX Share Price ** | NYSE (2019-05-17) in USD | $40.65 |
| United States of America Capital Markets Industry PE Ratio | Median Figure of 87 Publicly-Listed Capital Markets Companies | 32.33x |
| United States of America Market PE Ratio | Median Figure of 3,088 Publicly-Listed Companies | 17.89x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Blackstone Group.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NYSE:BX Share Price ÷ EPS (both in USD) = 40.65 ÷ 2.44 |
16.67x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Blackstone Group is good value based on earnings compared to the US Capital Markets industry average.
- Blackstone Group is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does
Blackstone Group's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 16.67x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts |
37.6%per year |
| United States of America Capital Markets Industry PEG Ratio | Median Figure of 33 Publicly-Listed Capital Markets Companies | 2.26x |
| United States of America Market PEG Ratio | Median Figure of 2,117 Publicly-Listed Companies | 1.56x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 16.67x ÷ 37.6% |
0.44x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Blackstone Group is good value based on expected growth next year.
Price based on value of assets
What value do investors place on
Blackstone Group's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in USD | $9.72 |
| NYSE:BX Share Price * | NYSE (2019-05-17) in USD | $40.65 |
| United States of America Capital Markets Industry PB Ratio | Median Figure of 168 Publicly-Listed Capital Markets Companies | 7.83x |
| United States of America Market PB Ratio | Median Figure of 5,195 Publicly-Listed Companies | 1.83x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NYSE:BX Share Price ÷ Book Value per Share (both in USD) = 40.65 ÷ 9.72 |
4.18x |
* Primary Listing of Blackstone Group.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Blackstone Group is good value based on assets compared to the US Capital Markets industry average.
Value checks
We assess Blackstone Group's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check) Blackstone Group has a total score of 4/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Blackstone Group's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
- Blackstone Group's earnings growth is expected to exceed the United States of America market average.
- Blackstone Group's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NYSE:BX Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts | 37.6% |
| NYSE:BX Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts | 8.7% |
| United States of America Capital Markets Industry Earnings Growth Rate | Market Cap Weighted Average | 7% |
| United States of America Capital Markets Industry Revenue Growth Rate | Market Cap Weighted Average | 4.6% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 13.9% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.3% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 9 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 7,916 | 1 | ||
| 2020-12-31 | 6,758 | 3,804 | 2 | |
| 2019-12-31 | 5,516 | 2,918 | 2 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-31 | 6,922 | 1,946 | 1,655 |
| 2018-12-31 | 6,669 | 46 | 1,542 |
| 2018-09-30 | 8,068 | -2,558 | 1,856 |
| 2018-06-30 | 7,876 | -4,687 | 1,791 |
| 2018-03-31 | 6,804 | -3,949 | 1,387 |
| 2017-12-31 | 6,948 | -1,626 | 1,471 |
| 2017-09-30 | 6,591 | -2,434 | 1,535 |
| 2017-06-30 | 6,292 | -1,210 | 1,470 |
| 2017-03-31 | 5,953 | -209 | 1,331 |
| 2016-12-31 | 4,994 | -89 | 1,039 |
| 2016-09-30 | 4,303 | 1,676 | 872 |
| 2016-06-30 | 2,884 | 1,044 | 305 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 9 Analyst Estimates (S&P Global) | See Below |
All data from Blackstone Group Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | ||||
| 2020-12-31 | 3.14 | 3.56 | 2.78 | 7.00 |
| 2019-12-31 | 2.34 | 2.56 | 2.17 | 6.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2019-03-31 | 2.44 |
| 2018-12-31 | 2.27 |
| 2018-09-30 | 2.74 |
| 2018-06-30 | 2.66 |
| 2018-03-31 | 2.07 |
| 2017-12-31 | 2.21 |
| 2017-09-30 | 2.32 |
| 2017-06-30 | 2.23 |
| 2017-03-31 | 2.04 |
| 2016-12-31 | 1.60 |
| 2016-09-30 | 1.35 |
| 2016-06-30 | 0.47 |
*GAAP earnings excluding extraordinary items.
Performance in 3 years
In the same way as past performance we look at the future estimated return
(profit) compared to the available
funds. We do this looking forward 3 years.
- Blackstone Group is expected to make outstanding use of shareholders’ funds in the future (Return on Equity greater than 40%).
Future performance checks
We assess Blackstone Group's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Blackstone Group has a total score of 5/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
Past Performance
How has Blackstone Group performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Blackstone Group's year on year earnings growth rate has been positive over the past 5 years.
- Blackstone Group's 1-year earnings growth exceeds its 5-year average (19.3% vs 3.9%)
- Blackstone Group's earnings growth has not exceeded the US Capital Markets industry average in the past year (19.3% vs 48.9%).
Earnings and Revenue History
All data from Blackstone Group Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-03-31 | 6,921.68 | 1,655.22 | 2,332.56 | |
| 2018-12-31 | 6,669.27 | 1,541.79 | 2,283.32 | |
| 2018-09-30 | 8,067.58 | 1,856.25 | 2,265.95 | |
| 2018-06-30 | 7,876.17 | 1,791.43 | 2,182.14 | |
| 2018-03-31 | 6,803.52 | 1,387.34 | 2,149.90 | |
| 2017-12-31 | 6,947.53 | 1,471.37 | 2,063.85 | |
| 2017-09-30 | 6,591.15 | 1,535.19 | 1,997.60 | |
| 2017-06-30 | 6,291.74 | 1,470.17 | 1,960.09 | |
| 2017-03-31 | 5,952.65 | 1,331.39 | 1,918.67 | |
| 2016-12-31 | 4,993.65 | 1,039.01 | 1,929.21 | |
| 2016-09-30 | 4,303.49 | 872.15 | 1,880.58 | |
| 2016-06-30 | 2,883.80 | 304.55 | 1,982.12 | |
| 2016-03-31 | 2,916.04 | 240.09 | 2,148.69 | |
| 2015-12-31 | 4,502.03 | 709.79 | 2,381.79 | |
| 2015-09-30 | 5,628.87 | 1,060.37 | 2,457.02 | |
| 2015-06-30 | 7,301.97 | 1,565.57 | 2,549.76 | |
| 2015-03-31 | 8,342.19 | 1,948.42 | 2,530.32 | |
| 2014-12-31 | 7,363.20 | 1,584.59 | 2,448.83 | |
| 2014-09-30 | 8,059.52 | 1,654.39 | 1,820.99 | |
| 2014-06-30 | 7,602.28 | 1,575.05 | 1,917.77 | |
| 2014-03-31 | 6,787.79 | 1,269.18 | 2,163.44 | |
| 2013-12-31 | 6,505.20 | 1,171.20 | 2,345.59 | |
| 2013-09-30 | 5,015.11 | 656.36 | 3,314.06 | |
| 2013-06-30 | 5,028.55 | 614.02 | 3,386.24 | |
| 2013-03-31 | 4,228.46 | 327.91 | 3,224.48 | |
| 2012-12-31 | 3,946.57 | 218.60 | 2,674.27 | |
| 2012-09-30 | 3,654.02 | 89.51 | 3,183.03 | |
| 2012-06-30 | 2,312.14 | -313.88 | 2,877.86 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Blackstone Group has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
- Blackstone Group used its assets more efficiently than the US Capital Markets industry average last year based on Return on Assets.
- Unable to establish if Blackstone Group improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
Past performance checks
We assess Blackstone Group's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Blackstone Group has a total score of 4/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
Health
How is Blackstone Group's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Blackstone Group's finances.
The net worth of a company is the difference between its assets and liabilities.
- Blackstone Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Blackstone Group's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- Low level of unsold assets.
- Debt is not covered by short term assets, assets are 0.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Blackstone Group Company Filings, last reported 1 month ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-31 | 14,146.70 | 10,843.68 | 1,585.86 |
| 2018-12-31 | 13,754.09 | 10,226.91 | 2,252.76 |
| 2018-09-30 | 14,706.98 | 10,428.52 | 1,975.58 |
| 2018-06-30 | 14,635.60 | 10,435.27 | 1,733.28 |
| 2018-03-31 | 13,524.81 | 9,519.58 | 1,749.72 |
| 2017-12-31 | 13,723.09 | 14,976.07 | 1,996.94 |
| 2017-09-30 | 13,461.62 | 12,668.81 | 1,322.46 |
| 2017-06-30 | 13,257.00 | 11,267.31 | 1,750.34 |
| 2017-03-31 | 13,102.86 | 9,899.57 | 2,353.16 |
| 2016-12-31 | 12,514.93 | 8,953.07 | 1,959.14 |
| 2016-09-30 | 12,354.04 | 7,320.58 | 1,877.47 |
| 2016-06-30 | 12,115.42 | 6,821.86 | 1,547.43 |
| 2016-03-31 | 11,911.08 | 6,424.64 | 1,421.68 |
| 2015-12-31 | 12,230.46 | 6,179.18 | 2,046.84 |
| 2015-09-30 | 12,670.27 | 6,231.57 | 1,469.39 |
| 2015-06-30 | 13,911.77 | 5,898.16 | 2,231.17 |
| 2015-03-31 | 17,953.98 | 9,198.77 | 1,217.51 |
| 2014-12-31 | 17,333.55 | 8,984.28 | 1,416.29 |
| 2014-09-30 | 16,391.19 | 7,969.18 | 1,043.51 |
| 2014-06-30 | 15,810.71 | 9,061.26 | 1,256.51 |
| 2014-03-31 | 14,771.76 | 10,229.32 | 955.91 |
| 2013-12-31 | 14,377.67 | 10,797.16 | 991.33 |
| 2013-09-30 | 12,504.52 | 10,889.60 | 1,030.95 |
| 2013-06-30 | 12,000.71 | 11,381.65 | 887.97 |
| 2013-03-31 | 11,366.23 | 12,028.06 | 1,118.74 |
| 2012-12-31 | 11,214.95 | 13,215.74 | 1,012.86 |
| 2012-09-30 | 10,841.73 | 12,980.52 | 1,033.15 |
| 2012-06-30 | 10,263.74 | 12,264.56 | 599.70 |
- Blackstone Group's level of debt (76.7%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has increased over the past 5 years (69.1% vs 76.7% today).
- Debt is not well covered by operating cash flow (17.9%, less than 20% of total debt).
- Unable to confirm if the interest payments on Blackstone Group's debt are well covered by earnings due to lack of past financial data.
Financial health checks
We assess Blackstone Group's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Blackstone Group has a total score of 1/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
Dividends
What is Blackstone Group's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
$2,000 of
Blackstone Group
shares you are expected to receive
$91
in your first year as a dividend.
Dividend Amount
- Blackstone Group's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
- Blackstone Group's dividend is above the markets top 25% of dividend payers in United States of America (3.69%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 9 Analyst Estimates (S&P Global) | See Below |
| United States of America Capital Markets Industry Average Dividend Yield | Market Cap Weighted Average of 40 Stocks | 2.1% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 2000 Stocks | 2.5% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.8% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.4% |
| United States of America Top 25% Dividend Yield | 75th Percentile | 3.7% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2021-12-31 | 2.71 | 4.00 |
| 2020-12-31 | 2.61 | 14.00 |
| 2019-12-31 | 1.98 | 14.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-03-01 | 1.850 | 5.094 |
| 2019-01-31 | 1.850 | 5.470 |
| 2018-03-01 | 2.700 | 8.106 |
| 2018-02-01 | 2.700 | 7.889 |
| 2017-02-24 | 1.520 | 4.727 |
| 2017-01-26 | 1.520 | 4.975 |
| 2016-02-26 | 2.730 | 10.264 |
| 2016-01-28 | 2.730 | 10.640 |
| 2015-02-27 | 2.120 | 6.008 |
| 2015-01-29 | 2.120 | 5.702 |
| 2014-02-28 | 1.340 | 4.135 |
| 2014-01-30 | 1.340 | 4.194 |
| 2013-03-01 | 0.720 | 3.043 |
| 2013-01-31 | 0.720 | 3.860 |
| 2012-10-18 | 0.400 | 2.572 |
| 2012-07-19 | 0.400 | 2.841 |
| 2012-04-19 | 0.400 | 3.175 |
| 2012-02-02 | 0.520 | 3.359 |
| 2011-10-20 | 0.400 | 2.777 |
| 2011-07-21 | 0.400 | 3.001 |
| 2011-04-21 | 0.400 | 2.350 |
| 2011-02-03 | 1.280 | 7.201 |
| 2010-10-28 | 0.400 | 2.803 |
| 2010-08-06 | 0.400 | 3.491 |
| 2010-07-22 | 0.400 | 3.521 |
| 2010-05-10 | 0.400 | 3.797 |
| 2010-04-22 | 0.400 | 2.876 |
| 2010-02-25 | 1.200 | 8.246 |
| 2009-11-06 | 1.200 | 8.809 |
| 2009-08-06 | 1.200 | 8.530 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
- Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of
Blackstone Group's earnings are
paid
to the shareholders as a dividend.
- Dividends paid are covered by earnings (1.3x coverage).
- Dividends after 3 years are expected to be covered by earnings (1.2x coverage).
Income/ dividend checks
We assess Blackstone Group's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Blackstone Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Blackstone Group has a total score of 5/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| COMPENSATION | $69,147,028 |
| AGE | 71 |
| TENURE AS CEO | 12.2 years |
CEO Bio
Mr. Stephen Allen Schwarzman, also known as Steve, serves as a Chairman, Chief Executive Officer and Founder of Blackstone Group Management L.L.C., General Partner of The Blackstone Group L.P. Mr. Schwarzman has been involved in all phases of Blackstone’s development since its founding in 1985. Mr. Schwarzman is an active Philanthropist with a history of supporting education, as well as culture and the arts, among other things. In both business and philanthropy, Mr. Schwarzman has dedicated himself to tackling big problems with transformative solutions. Mr. Schwarzman is a member of The Council on Foreign Relations, The Business Council, The Business Roundtable, and The International Business Council of the World Economic Forum. He is a former Co-Chair of the Partnership for New York City and serves on the boards of The Asia Society and New York-Presbyterian Hospital, as well as on The Advisory Board of the School of Economics and Management at Tsinghua University, Beijing. He is a Trustee of The Frick Collection in New York City and Chairman Emeritus of the Board of Directors of The John F. Kennedy Center for the Performing Arts. In 2007, Mr. Schwarzman was included in TIME’s “100 Most Influential People.” In 2016, he topped Forbes Magazine’s list of the most influential people in finance and in 2018 was ranked in the Top 50 on Forbes’ list of the “World’s Most Powerful People.” The Republic of France has awarded Mr. Schwarzman both the Légion d'Honneur and the Ordre des Arts et des Letters at the Commandeur level. Mr. Schwarzman is one of the only Americans to receive both awards recognizing significant contributions to France. He is also the Former Chairman of the President’s Strategic and Policy Forum, which was charged with providing direct input to the President of the United States from business leaders through a non-partisan, non-bureaucratic exchange of ideas. Mr. Schwarzman holds a B.A. from Yale University and an M.B.A. from Harvard Business School. He has served as an adjunct professor at the Yale School of Management and on the Harvard Business School Board of Dean’s Advisors.
CEO Compensation
- Steve's compensation has been consistent with company performance over the past year.
- Steve's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the Blackstone Group management team in years:
- The tenure for the Blackstone Group management team is about average.
Management Team
Steve Schwarzman
Chairman
$69M
71
12.2 yrs
Tony James
Executive Vice Chairman of Blackstone Group Management L.L.C
$66M
67
1.2 yrs
Jon Gray
President
$58M
49
1.2 yrs
Michael Chae
CFO & Senior MD of Blackstone Group Management L.L.C.
$14M
50
3.8 yrs
Mike Nash
Sr MD & Co-Founder & Chairman of Blackstone Real Estate Debt Strategies
57
Dan Prendergast
Founder
Christopher Striano
Principal Accounting Officer of Blackstone Group Management L.L.C.
42
0.9 yrs
Bill Murphy
Chief Technology Officer & Senior MD
Weston Tucker
Sr. MD of External Relations Group & Head of Investor Relations
37
John Finley
Chief Legal Officer & Senior MD of Blackstone Group Management L.L.C
$13M
61
8.7 yrs
Board of Directors Tenure
Average tenure and age of the Blackstone Group board of directors in years:
- The tenure for the Blackstone Group board of directors is about average.
Board of Directors
Steve Schwarzman
Chairman
$69M
71
12.2 yrs
Tony James
Executive Vice Chairman of Blackstone Group Management L.L.C
$66M
67
Jon Gray
President
$58M
49
7.3 yrs
Anthony Myers
Senior MD of Real Estate Group & Chairman of Real Estate - Europe
59
Bennett Goodman
Senior MD & Director of Blackstone Group Management L.L.C
60
4.3 yrs
Roger Deromedi
Chairman of Pinnacle Foods Group Inc
65
Gerry Murphy
Chairman of the Blackstone Group International Partners LLP
63
Gerard Errera
Chairman of Blackstone France
74
6.8 yrs
Muhammad Sanusi
Chairman of Black Rhino Unit
3.9 yrs
Katsuyuki Kuki
Chairman & Representative Director for Japan
1.8 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 07. May 19 | Sell | Bennett Goodman | Individual | 03. May 19 | 03. May 19 | -135,000 | $39.77 | $-5,368,950 | ||
| 20. Aug 18 | Sell | James Hill | Individual | 16. Aug 18 | 20. Aug 18 | -674,257 | $36.86 | $-24,596,171 | ||
| 10. Aug 18 | Sell | John Finley | Individual | 08. Aug 18 | 10. Aug 18 | -10,000 | $35.98 | $-357,610 | ||
| 14. Jun 18 | Sell | John Finley | Individual | 12. Jun 18 | 12. Jun 18 | -20,000 | $33.23 | $-664,600 | ||
Management checks
We assess Blackstone Group's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Blackstone Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
News
Simply Wall St News
Should You Be Tempted To Sell The Blackstone Group LP (NYSE:BX) At Its Current PE Ratio?
and want to better understand how you can grow your money by investing in The Blackstone Group LP (NYSE:BX). … The Blackstone Group LP (NYSE:BX) is trading with a trailing P/E of 16.5x, which is higher than the industry average of 0x. … While this makes BX appear like a stock to avoid or sell if you own it, you might change your mind after I explain the assumptions behind the P/E ratio
Simply Wall St - – Full articleDoes The Hype Around The Blackstone Group LP's (NYSE:BX) Growth Justify Its June Share Price?
The Blackstone Group LP (NYSE:BX) is considered a high-growth stock, but its last closing price of $32.54 left some investors wondering if this high future earnings potential can be rationalized by its current price tag. … Let’s take a look at some key metrics to determine whether there's any value here for current and potential future investors. … Blackstone Group is poised for significantly high earnings growth in the near future
Simply Wall St - – Full articleThe Blackstone Group LP (NYSE:BX) Is Trading At A 10.43% Discount
Capital market firms such as BX are hard to value. … This is because the rules they face are different to other companies, which can impact the way we forecast their cash flow. … Asset managers, for example, must hold certain levels of capital in order to maintain a safe cash cushion.
Simply Wall St - – Full articleThe Blackstone Group LP. (NYSE:BX) Is Undervalued By 7%
NYSE:BX Intrinsic Value May 22nd 18 Deriving BX's Intrinsic Value The key assumption for Excess Returns is, the value of the company is how much money it can generate from its current level of equity capital, in excess of the cost of that capital. … The returns above the cost of equity is known as excess returns: Excess Return Per Share = (Stable Return On Equity – Cost Of Equity) (Book Value Of Equity Per Share) = (39.38% – 9.92%) * $6.88 = $2.03 Excess Return Per Share is used to calculate the terminal value of BX, which is how much the business is expected to continue to generate over the upcoming years, in perpetuity. … This is a common component of discounted cash flow models: Terminal Value Per Share = Excess Return Per Share / (Cost of Equity – Expected Growth Rate) = $2.03 / (9.92% – 2.47%) = $27.2 Combining these components gives us BX's intrinsic value per share: Value Per Share = Book Value of Equity Per Share + Terminal Value Per Share = $6.88 + $27.2 = $34.08 Compared to the current share price of $31.68, BX is , at this time, fairly priced by the market.
Simply Wall St - – Full articleShould You Be Tempted To Buy The Blackstone Group LP. (NYSE:BX) At Its Current PE Ratio?
(NYSE:BX) trades with a trailing P/E of 14.9x, which is lower than the industry average of 16.6x. … Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for BX Price per share = $30.95 Earnings per share = $2.073 ∴ Price-Earnings Ratio = $30.95 ÷ $2.073 = 14.9x The P/E ratio isn’t a metric you view in isolation and only becomes useful when you compare it against other similar companies. … Since BX's P/E of 14.9x is lower than its industry peers (16.6x), it means that investors are paying less than they should for each dollar of BX's earnings.
Simply Wall St - – Full articleDid The Blackstone Group LP.'s (NYSE:BX) Recent Earnings Growth Beat The Trend?
Examining The Blackstone Group LP.'s (NYSE:BX) past track record of performance is a useful exercise for investors. … Since these values are fairly myopic, I’ve estimated an annualized five-year value for Blackstone Group's earnings, which stands at US$816.22M This means generally, Blackstone Group has been able to steadily raise its bottom line over the last couple of years as well. … Though Blackstone Group's past data is helpful, it is only one aspect of my investment thesis.
Simply Wall St - – Full articleIs Now The Right Time To Buy The Blackstone Group LP. (NYSE:BX)?
(NYSE:BX) is considered a high-growth stock, but its last closing price of $33.38 left some investors wondering if this high future earnings potential can be rationalized by its current price tag. … Check out our latest analysis for Blackstone Group Should you get excited about BX's future? … However, to properly examine the value of a high-growth stock such as Blackstone Group, we must reflect its earnings growth into the valuation.
Simply Wall St - – Full articleWhat Should We Expect From The Blackstone Group LP.'s (NYSE:BX) Earnings In The Year Ahead?
Generally, analyst consensus outlook appear vastly optimistic, with a bottom line expansion of more than 100% in the upcoming year, compared with the past 5-year average growth rate of 27.99%. … In this article, I've outline a few earnings growth rates to give you a sense of the market sentiment for Blackstone Group in the longer term. … To reduce the year-on-year volatility of analyst earnings forecast, I've inserted a line of best fit through the expected earnings figures to determine the annual growth rate from the slope of the line.
Simply Wall St - – Full articleWhat Should We Expect From The Blackstone Group LP.'s (NYSE:BX) Earnings Over The Couple Of Years?
Today I want to provide a brief commentary on how market analysts view Blackstone Group's earnings growth trajectory over the next couple of years and whether the future looks even brighter than the past. … View our latest analysis for Blackstone Group Analysts' outlook for this coming year seems buoyant, with earnings growth more than doubling. … This means that, we can assume Blackstone Group will grow its earnings by 31.66% every year for the next few years.
Simply Wall St - – Full articleIs The Blackstone Group LP.'s (NYSE:BX) ROE Of 25.06% Sustainable?
View our latest analysis for Blackstone Group Breaking down ROE — the mother of all ratios Return on Equity (ROE) is a measure of Blackstone Group’s profit relative to its shareholders’ equity. … Return on Equity = Net Profit ÷ Shareholders Equity ROE is measured against cost of equity in order to determine the efficiency of Blackstone Group’s equity capital deployed. … Since Blackstone Group’s return covers its cost in excess of 15.30%, its use of equity capital is efficient and likely to be sustainable.
Simply Wall St - – Full articleCompany Info
Description
The Blackstone Group L.P. is a publicly owned alternative asset manager. The firm also provides capital markets services to its clients. It provides its services to public and corporate pension funds, academic, cultural, and charitable organizations, retirees, sovereign wealth funds, and institutional and individual investors. The firm manages separate client focused portfolios for its clients. It also launches and manages private equity funds, real estate funds, funds of hedge funds, collateralized loan obligations, real estate investment trusts, and credit-focused funds for its clients. The firm invests in private equity, public equity, fixed income, and alternative investment markets across the globe. The Blackstone Group L.P. was founded in 1985 and is based in New York City, New York with additional offices in London, United Kingdom, Hong Kong, Baltimore, Maryland, Beijing, China, Copenhagen, Denmark, Dusseldorf, Germany, Los Angeles, California, Paris, France, San Francisco, California, Sao Paulo, Brazil, Singapore, Sydney, Australia, and Tokyo, Japan.
Details
| Name: | The Blackstone Group L.P. |
| BX | |
| Exchange: | NYSE |
| Founded: | 1985 |
| $46,629,158,459 | |
| $26,782,921,883 | |
| 1,147,088,769 | |
| Website: | http://www.blackstone.com |
| Address: |
The Blackstone Group L.P. 345 Park Avenue, New York, New York, 10154, United States |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NYSE | BX | Voting Common Units | New York Stock Exchange | US | USD | 22. Jun 2007 | |
| DB | BBN | Voting Common Units | Deutsche Boerse AG | DE | EUR | 22. Jun 2007 | |
| LSE | 0HO7 | Voting Common Units | London Stock Exchange | GB | EUR | 22. Jun 2007 | |
| BMV | BX * | Voting Common Units | Bolsa Mexicana de Valores | MX | MXN | 22. Jun 2007 |
Number of employees
Current staff
Industry
| Asset Management and Custody Banks | |
| Diversified Financials |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/05/20 02:09 |
| End of day share price update: | 2019/05/17 00:00 |
| Last estimates confirmation: | 2019/05/10 |
| Last earnings filing: | 2019/05/09 |
| Last earnings reported: | 2019/03/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.
