Blackstone Inc. (BX)

Executive Summary

Blackstone is the largest alternative asset manager in the world with $1.30 trillion of assets under management as of Q1 2026, spanning real estate, private equity, private credit, hedge fund solutions, and infrastructure. The stock has corrected 21 percent over the past twelve months as the asset-management industry has digested rising rates, a slow IPO market that has compressed realization activity, and concern about the duration of the private-credit bull cycle.

What’s inside the full report

• 15-year financial summary table — revenue, net income, GAAP & adjusted EPS
• Valuation framework — current multiples vs. 5-year historical range
• Peer comparison table — multiples, margins, balance-sheet metrics
• Base case, bull case, bear case price targets with explicit math
• Competitive position and economic moat analysis
• Management and capital allocation track record
• Balance sheet review — leverage, credit ratings, distribution coverage
• Insider activity — recent open-market buys / sells with interpretation
• Strategic acquisitions and divestitures history
• Sell-side consensus and where TTCM differs
• Detailed risk factors specific to the name
• Bull case and forward catalysts to watch
• TTCM rating with explicit ADD / TRIM price triggers