Company Valuation: Blackstone Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 92,857 55,019 99,209 132,400 120,650 89,393 - -
Change - -40.75% 80.32% 33.46% -8.88% -25.91% - -
Enterprise Value (EV) 1 98,543 63,117 107,557 141,749 130,464 98,286 97,451 96,717
Change - -35.95% 70.41% 31.79% -7.96% -24.66% -0.85% -0.75%
P/E 27.1x 14.4x 33.1x 37.2x 27.7x 18.6x 15.2x 13.9x
PBR 16.5x 11.4x 22.6x 15.4x 13.3x 9.78x 9.24x 8.79x
PEG - 1.72x -1.4x 2.1x 1.4x 2.44x 0.7x 1.44x
Capitalization / Revenue 7.96x 4.37x 10.2x 11.4x 9.23x 5.98x 4.81x 4.41x
EV / Revenue 8.45x 5.01x 11.1x 12.2x 9.98x 6.58x 5.24x 4.77x
EV / EBITDA 13.7x 8.08x 17.2x 19.6x 15.5x 11.9x 9.29x 8.4x
EV / EBIT 13.8x 8.15x 17.5x 19.9x 15.7x 11.5x 8.91x 9.25x
EV / FCF 25.1x 10.3x 28.1x 41.4x 28.7x 11.6x 9.1x 13.1x
FCF Yield 3.98% 9.67% 3.56% 2.41% 3.49% 8.6% 11% 7.64%
Dividend per Share 2 4.06 4.4 3.35 3.95 4.74 5.138 6.33 6.796
Rate of return 3.14% 5.93% 2.56% 2.29% 3.08% 4.6% 5.66% 6.08%
EPS 2 4.77 5.17 3.95 4.64 5.57 5.994 7.354 8.062
Distribution rate 85.1% 85.1% 84.8% 85.1% 85.1% 85.7% 86.1% 84.3%
Net sales 1 11,663 12,590 9,694 11,649 13,077 14,943 18,602 20,281
EBITDA 1 7,179 7,810 6,255 7,220 8,397 8,234 10,492 11,510
EBIT 1 7,127 7,741 6,161 7,121 8,298 8,511 10,939 10,458
Net income 1 6,171 6,633 5,061 5,967 7,111 7,691 9,575 10,653
Net Debt 1 5,686 8,098 8,348 9,349 9,814 8,893 8,058 7,324
Reference price 2 129.39 74.19 130.92 172.42 154.14 111.75 111.75 111.75
Nbr of stocks (in thousands) 717,651 741,598 757,781 767,895 782,728 799,935 - -
Announcement Date 1/27/22 1/26/23 1/25/24 1/30/25 1/29/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
19.32x5.52x11.8x2.16% 164B
13.71x3.37x - 2.57% 146B
15.75x7.18x - 1.59% 98.65B
18.64x6.58x11.94x4.6% 89.39B
24.21x7.78x11.44x0.87% 81.05B
21.05x11.27x18.06x4.49% 71.54B
13.09x5.13x - 1.99% 48.34B
10.77x1.59x4.92x1.36% 43.36B
Average 17.07x 6.05x 11.63x 2.45% 92.8B
Weighted average by Cap. 17.45x 5.99x 12.10x 2.48%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield