Blackstone Inc（BX）の決算・業績分析
Blackstone Incの2025年有価証券報告書をAI分析。売上高$14.5B(+9.2%)。Financials。
目次
Blackstone Incの2025年度 業績サマリー
Blackstone Inc（証券コード: BX）の2025年度決算・業績分析。売上高は$14.5B（前年比+9.2%）。純利益は$3.0B（前年比+8.7%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
Blackstone Incの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue declined 62.3% YoY to $8.5B (XBRL), driven by global market volatility and macroeconomic uncertainty (10-K).
- Net income fell 70.2% YoY to $1.7B (XBRL), despite strong operating income of $3.5B (40.6% margin) (XBRL).
- Shareholder returns surged with $6.5B in dividends and buybacks (XBRL), but payout ratio reached 373.0% (XBRL).
- Net debt rose to $8.5B (2.4x EBITDA) (XBRL), reflecting high leverage (D/E 3.26x) (XBRL).
Blackstone Incの売上高変化の要因
- •Total revenue declined 62.3% YoY to $8.5B (XBRL), reflecting a sharp drop from FY2023's $22.6B (XBRL). The decline is attributed to global market volatility, Treasury yield fluctuations, a strong U.S. Dollar, and macroeconomic uncertainty (10-K). Segment-level revenue data is not available in XBRL or 10-K text (N/A).
Blackstone Incの営業利益変化の要因
- •Operating income was $3.5B (40.6% margin) (XBRL), while net income fell 70.2% YoY to $1.7B (XBRL). Net margin was 20.5% (XBRL). EBITDA reached $3.5B (41.5% of revenue) (XBRL). Gross profit data is not available (N/A).
Blackstone Incの事業リスクと対応
Economic/geopolitical volatility risks: Global market instability, inflation, and high interest rates could reduce revenue, earnings, and cash flow (10-K).
Market valuation risks: Stock price volatility and concentrated equity holdings may harm mark-to-market valuations (10-K).
Interest rate risks: Elevated rates hurt real estate valuations and fundraising, particularly in life science and traditional office markets (10-K).
Geopolitical risks: Trade conflicts, U.S. regulatory changes (e.g., tariffs), and international tensions (e.g., wars in the Middle East, Ukraine) increase market uncertainty (10-K).
Public health risks: Pandemics could disrupt operations, employee well-being, and economic recovery (10-K).
Blackstone Incの今後の見通し・業績予想
Blackstone Incの事業内容
Blackstone Inc. (BX) is a global alternative asset manager with $1.1 trillion in Total Assets Under Management (10-K). It generates revenue through fees and incentive arrangements from managing investments across real estate ($315.4B AUM), private equity ($352.2B AUM), credit & insurance, and multi-asset strategies (10-K). Key customers include pension funds, insurance companies, and individual investors (10-K), with no significant customer concentration (N/A). Competitive advantages include scale, diversified business model, and strong client relationships (10-K).
Blackstone IncのAI業績分析レポート（2024年度）
Blackstone Inc. (BX) FY2024 Annual Report Analysis
Highlights
Business Overview
Blackstone Inc. (BX) is a global alternative asset manager with $1.1 trillion in Total Assets Under Management (10-K). It generates revenue through fees and incentive arrangements from managing investments across real estate ($315.4B AUM), private equity ($352.2B AUM), credit & insurance, and multi-asset strategies (10-K). Key customers include pension funds, insurance companies, and individual investors (10-K), with no significant customer concentration (N/A). Competitive advantages include scale, diversified business model, and strong client relationships (10-K).
Revenue Analysis
Total revenue declined 62.3% YoY to $8.5B (XBRL), reflecting a sharp drop from FY2023's $22.6B (XBRL). The decline is attributed to global market volatility, Treasury yield fluctuations, a strong U.S. Dollar, and macroeconomic uncertainty (10-K). Segment-level revenue data is not available in XBRL or 10-K text (N/A).
Profitability Analysis
Operating income was $3.5B (40.6% margin) (XBRL), while net income fell 70.2% YoY to $1.7B (XBRL). Net margin was 20.5% (XBRL). EBITDA reached $3.5B (41.5% of revenue) (XBRL). Gross profit data is not available (N/A).
Balance Sheet Analysis
Total assets were $40.3B (XBRL), with equity at $6.8B (XBRL) and long-term debt at $11.5B (XBRL). Net debt was $8.5B (2.4x EBITDA) (XBRL). Equity ratio was 16.9% (XBRL), and D/E ratio was 3.26x (XBRL). Cash reserves stood at $3.0B (XBRL).
Cash Flow Analysis
Operating cash flow was $6.3B (XBRL), with $6.1B in free cash flow after $235M in CapEx (XBRL). Dividends paid totaled $6.5B (XBRL), resulting in a payout ratio of 373.0% (XBRL).
Working Capital Analysis
Receivables days were 8 days (XBRL). Inventory and payables days data are not available (N/A).
Risks
Outlook
Management highlights ongoing challenges including sustained high interest rates, geopolitical tensions, and real estate market pressures (10-K). The U.S. economy showed steady growth, while inflation decreased moderately (10-K). No explicit forward-looking guidance is provided (N/A).
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 6.8B | 7.3B | 6.1B | 22.6B | 8.5B | 8.0B |
| Operating Income | N/A | N/A | N/A | N/A | 3.5B | N/A |
| Net Income | 1.5B | 2.0B | 1.0B | 5.9B | 1.7B | 1.4B |
| Total Assets | 32.6B | 26.3B | 41.2B | 42.5B | 40.3B | 43.5B |
| Total Equity | 7.0B | 6.7B | 9.4B | 7.7B | 6.8B | 8.2B |
| Operating Cash Flow | 46M | 2.0B | 1.9B | 4.0B | 6.3B | 4.1B |
Financialsの企業一覧
Blackstone Incと同じ「Financials」セクターの企業