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 99,209 132,400 120,650 114,551 - -
Change - -40.75% 80.32% 33.46% -8.88% -5.06% - -
Enterprise Value (EV) 1 98,543 63,117 107,557 141,749 130,464 123,434 123,109 123,687
Change - -35.95% 70.41% 31.79% -7.96% -5.39% -0.26% 0.47%
P/E 27.1x 14.4x 33.1x 37.2x 27.7x 23.8x 19.4x 17.4x
PBR 16.5x 11.4x 22.6x 15.4x 13.3x 12.5x 11.8x 11.3x
PEG - 1.72x -1.4x 2.1x 1.4x 2.95x 0.9x 1.6x
Capitalization / Revenue 7.96x 4.37x 10.2x 11.4x 9.23x 7.62x 6.15x 5.51x
EV / Revenue 8.45x 5.01x 11.1x 12.2x 9.98x 8.21x 6.61x 5.94x
EV / EBITDA 13.7x 8.08x 17.2x 19.6x 15.5x 15.8x 12.5x 11.3x
EV / EBIT 13.8x 8.15x 17.5x 19.9x 15.7x 15.2x 11.5x 11.5x
EV / FCF 25.1x 10.3x 28.1x 41.4x 28.7x 13x 11x 16.7x
FCF Yield 3.98% 9.67% 3.56% 2.41% 3.49% 7.7% 9.11% 5.98%
Dividend per Share 2 4.06 4.4 3.35 3.95 4.74 5.156 6.383 7.012
Rate of return 3.14% 5.93% 2.56% 2.29% 3.08% 3.6% 4.46% 4.9%
EPS 2 4.77 5.17 3.95 4.64 5.57 6.019 7.385 8.21
Distribution rate 85.1% 85.1% 84.8% 85.1% 85.1% 85.7% 86.4% 85.4%
Net sales 1 11,663 12,590 9,694 11,649 13,077 15,030 18,622 20,806
EBITDA 1 7,179 7,810 6,255 7,220 8,397 7,836 9,884 10,972
EBIT 1 7,127 7,741 6,161 7,121 8,298 8,110 10,664 10,783
Net income 1 6,171 6,633 5,061 5,967 7,111 7,714 9,626 10,729
Net Debt 1 5,686 8,098 8,348 9,349 9,814 8,883 8,558 9,136
Reference price 2 129.39 74.19 130.92 172.42 154.14 143.20 143.20 143.20
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.($)
23.79x8.21x15.75x3.6% 115B
17.83x13.98x28.6x0.72% 97.39B
24.25x - - 3.82% 32.29B
11.79x4.86x9.56x5.14% 22.3B
17.72x1.87x7.18x3.76% 17.79B
15.12x4.66x12.84x2.87% 17.46B
15.16x9.58x - 9.65% 14.29B
35.29x19.37x28.1x2.25% 11.99B
Average 20.12x 8.93x 17.00x 3.98% 41.01B
Weighted average by Cap. 20.51x 9.79x 19.51x 3.06%

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