Blackstone Valuation Multiples

Blackstone Overview

About Blackstone

Blackstone is the world's largest alternative-asset manager with $1.242 trillion in total asset under management, including $906.2 billion in fee-earning assets under management, at the end of September 2025. The company operates with scale in each of its major product lines: private equity (26% of fee-earning AUM and 33% of base management fees), real estate/real assets (31% and 35%), private credit (34% and 25%), and other alternatives (9% and 7%). While the firm primarily serves institutional investors (84% of AUM), it also caters to clients in the high-net-worth channel (16%). Blackstone operates through 25 offices in the Americas (8), Europe and the Middle East (9), and the Asia-Pacific region (8).

Founded

2007

HQ

Employees

4.9K

Website

blackstone.com

Sectors

PE & VCAsset Management

Financials (LTM)

Revenue: $14B

EBITDA: $8B

EV

$104B

Valuation Multiples

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Blackstone Financials

Blackstone reported last 12-month revenue of $14B and EBITDA of $8B.

In the same LTM period, Blackstone generated $9B in gross profit, $8B in EBITDA, and $3B in net income.

Blackstone P&L

In the most recent fiscal year, Blackstone reported revenue of $13B and EBITDA of $8B.

Blackstone expects next 12-month revenue of XXX and NTM EBITDA of XXX

Blackstone Stock Performance

Blackstone has current market cap of $90B, and enterprise value of $104B.

Blackstone's stock price is $115.33.

Blackstone Valuation Multiples

Blackstone trades at 7.6x EV/Revenue multiple, and 12.7x EV/EBITDA.

Blackstone Financial Valuation Multiples

As of March 25, 2026, Blackstone has market cap of $90B and EV of $104B.

Equity research analysts estimate Blackstone's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Blackstone has a P/E ratio of 26.1x.

Blackstone Margins & Growth Rates

Blackstone's revenue in the last 12 month grew by 20%.

Blackstone's revenue per employee in the last FY averaged $2.8M, while opex per employee averaged $1.0M for the same period.

Blackstone's rule of 40 is 80% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Blackstone's rule of X is 111% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Blackstone Public Comps

See public comps and valuation multiples for other PE & VC and Asset Management comps.

Blackstone M&A Activity

Blackstone acquired XXX companies to date.

Last acquisition by Blackstone was on XXXXXXXX, XXXXX. Blackstone acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

Blackstone Investment Activity

Blackstone invested in XXX companies to date.

Blackstone made its latest investment on XXXXXXXX, XXXXX. Blackstone invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).