Financials Blackstone Inc.

Equities

BX

US09260D1072

Investment Management & Fund Operators

Market Closed - Nyse Other stock markets 04:00:02 2024-12-10 pm EST			5-day change	1st Jan Change
189.57 ^USD	+2.28%		+1.83%	+44.80%

03:57pm	Corebridge Financial's Board Chairman Steps Down, Financial Board Elects New Members	MT
03:45pm	Blackstone Raises Over $1 Billion in Financing for Jet Support Services	MT

Projected Income Statement: Blackstone Inc.

income-statement-evolution-chart BLACKSTONE-INC

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	7,338	6,515	11,663	12,590	9,694	11,314	14,697	17,092
Change	-	-11.22%	79.03%	7.95%	-23%	16.71%	29.9%	16.3%
EBITDA ¹	3,288	3,846	7,179	7,810	6,255	6,730	8,997	9,423
Change	-	16.96%	86.68%	8.79%	-19.91%	7.6%	33.67%	4.74%
EBIT ¹	3,262	3,811	7,127	7,741	6,161	6,221	8,084	8,870
Change	-	16.82%	87.03%	8.62%	-20.41%	0.97%	29.95%	9.72%
Interest Paid ¹	-199.6	-166.2	-196.6	-316.6	-431.9	-23.68	-28.89	-49.97
Earnings before Tax (EBT) ¹	3,067	3,646	6,931	7,425	5,731	6,639	8,238	9,025
Change	-	18.87%	90.1%	7.13%	-22.8%	15.83%	24.09%	9.55%
Net income ¹	2,871	3,342	6,171	6,633	5,061	5,698	7,405	8,697
Change	-	16.4%	84.67%	7.49%	-23.7%	12.59%	29.95%	17.45%
Announcement Date	1/30/20	1/27/21	1/27/22	1/26/23	1/25/24	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3
Net sales ¹	2,091	1,141	1,113	1,459	2,803	2,047	2,118	3,042	4,457	3,501	4,154	2,592	2,342	2,486	2,351	2,322	2,535	2,549	2,516	2,434	3,697	3,339	3,429	3,774	4,183	3,865	3,858	4,310
Change	-	-45.47%	-2.43%	31.07%	92.15%	-26.97%	3.46%	43.64%	46.52%	-21.44%	18.63%	-37.59%	-9.64%	6.12%	-5.43%	-1.24%	9.19%	0.56%	-1.29%	-3.28%	51.9%	-9.68%	2.68%	10.07%	10.84%	-7.6%	-0.18%	11.71%
EBITDA ¹	1,055	629.2	659	861.1	1,697	1,333	-	-	2,722	2,166	2,426	1,654	1,564	1,547	1,524	1,519	1,665	-	-	1,535	2,308	2,064	2,196	2,331	2,638	-	-	-
Change	-	-40.37%	4.73%	30.67%	97.02%	-21.42%	-100%	-	-	-20.41%	11.97%	-31.8%	-5.45%	-1.06%	-1.54%	-0.31%	9.61%	-100%	-	-	50.36%	-10.57%	6.4%	6.15%	13.17%	-100%	-	-
EBIT ¹	1,047	621.7	650.9	851.5	1,687	1,321	-	-	2,708	2,152	2,410	1,639	1,540	1,524	1,500	1,497	1,640	1,551	1,524	1,510	1,743	1,506	1,443	1,544	1,693	-	-	-
Change	-	-40.65%	4.7%	30.83%	98.06%	-21.69%	-100%	-	-	-20.52%	11.98%	-31.98%	-6.07%	-1%	-1.62%	-0.15%	9.51%	-5.4%	-1.73%	-0.93%	15.39%	-13.59%	-4.18%	7%	9.65%	-100%	-	-
Charge d'intérêts ¹	-60.69	-41.54	-38.92	-39.54	-45.7	-44.34	-44.13	-52.41	-56.39	-66.6	-69.42	-80.31	-100.2	-104.2	-107.1	-110	-108.7	-10.36	-3.425	-1.731	-6.248	-6.449	-6.482	-7.406	-6.386	-10	-10	-10
Earnings before Tax (EBT) ¹	990.1	580.2	612	812.3	1,641	1,276	1,211	1,792	2,651	2,086	2,341	1,559	1,440	1,420	1,392	1,387	1,532	1,444	1,416	1,399	2,216	1,880	1,999	2,225	2,362	-	-	-
Change	-	-41.41%	5.48%	32.74%	102.05%	-22.23%	-5.15%	48.03%	47.94%	-21.34%	12.23%	-33.39%	-7.66%	-1.35%	-1.95%	-0.37%	10.39%	-5.75%	-1.91%	-1.2%	58.41%	-15.14%	6.3%	11.31%	6.18%	-100%	-	-
Net income ¹	914	557.1	548	772.1	1,464	1,192	1,070	1,635	2,273	1,938	1,986	1,375	1,334	1,249	1,212	1,212	1,388	1,266	1,252	1,279	1,854	1,648	1,756	1,929	2,168	1,992	2,138	2,263
Change	-	-39.05%	-1.64%	40.9%	89.67%	-18.59%	-10.25%	52.83%	39.02%	-14.76%	2.47%	-30.77%	-2.96%	-6.38%	-2.96%	-0.04%	14.57%	-8.77%	-1.12%	2.11%	44.96%	-11.07%	6.56%	9.81%	12.41%	-8.12%	7.32%	5.86%
Announcement Date	1/30/20	4/23/20	7/23/20	10/28/20	1/27/21	4/22/21	7/22/21	10/21/21	1/27/22	4/21/22	7/21/22	10/20/22	1/26/23	4/20/23	7/20/23	10/19/23	1/25/24	4/18/24	7/18/24	10/16/24	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Blackstone Inc.

balance-sheet-analysis-chart BLACKSTONE-INC

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	9,062	3,722	5,686	8,098	8,348	8,380	8,086	8,387
Change	-	-58.93%	52.77%	42.42%	3.09%	0.38%	-3.51%	3.72%
Announcement Date	1/30/20	1/27/21	1/27/22	1/26/23	1/25/24	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Blackstone Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	111.6	64.32	235.5	224.2	116.3	126.7	74
Change	-	-42.39%	266.16%	-4.78%	-48.12%	8.88%	-41.58%
Free Cash Flow (FCF) ¹	1,824	3,922	6,101	3,833	7,755	8,200	8,324
Change	-	114.97%	55.57%	-37.18%	102.33%	5.74%	1.51%
Announcement Date	1/27/21	1/27/22	1/26/23	1/25/24	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Blackstone Inc.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	44.81%	59.03%	61.55%	62.04%	64.53%	59.49%	61.22%	55.13%
EBIT Margin (%)	44.45%	58.49%	61.11%	61.49%	63.56%	54.98%	55.01%	51.89%
EBT Margin (%)	41.79%	55.96%	59.42%	58.97%	59.13%	58.68%	56.05%	52.8%
Net margin (%)	39.12%	51.29%	52.91%	52.68%	52.21%	50.37%	50.39%	50.88%
FCF margin (%)	-	28%	33.62%	48.46%	39.54%	68.54%	55.79%	48.7%
FCF / Net Income (%)	-	54.59%	63.55%	91.98%	75.73%	136.08%	110.74%	95.71%
Profitability
ROA	6.66%	11.36%	18.29%	15.84%	12.22%	11.17%	14.01%	18.62%
ROE	30.62%	48.92%	76.78%	77.67%	69.94%	39.19%	48.84%	50.46%
Financial Health
Leverage (Debt/EBITDA)	2.76x	0.97x	0.79x	1.04x	1.33x	1.25x	0.9x	0.89x
Debt / Free cash flow	-	2.04x	1.45x	1.33x	2.18x	1.08x	0.99x	1.01x
Capital Intensity
CAPEX / Current Assets (%)	-	1.71%	0.55%	1.87%	2.31%	1.03%	0.86%	0.43%
CAPEX / EBITDA (%)	-	2.9%	0.9%	3.02%	3.58%	1.73%	1.41%	0.79%
CAPEX / FCF (%)	-	6.12%	1.64%	3.86%	5.85%	1.5%	1.54%	0.89%
Items per share
Cash flow per share ¹	-	2.777	5.535	5.252	3.335	4.53	5.005	6.02
Change	-	-	99.36%	-5.11%	-36.51%	35.85%	10.49%	20.28%
Dividend per Share ¹	1.95	2.26	4.06	4.4	3.35	3.757	5.104	5.98
Change	-	15.9%	79.65%	8.37%	-23.86%	12.14%	35.85%	17.17%
Book Value Per Share ¹	10.44	9.727	7.849	6.521	5.787	9.566	10.03	10.94
Change	-	-6.87%	-19.31%	-16.92%	-11.25%	65.3%	4.86%	9.06%
EPS ¹	2.31	2.65	4.77	5.17	3.95	4.388	5.781	6.809
Change	-	14.72%	80%	8.39%	-23.6%	11.09%	31.75%	17.78%
Nbr of stocks (in thousands)	675,640	700,649	717,651	741,598	757,781	767,895	767,895	767,895
Announcement Date	1/30/20	1/27/21	1/27/22	1/26/23	1/25/24	-	-	-