Blackstone Cash Flow Statement
NYSE: BXFinanceInvestment ManagersUSD
At close: Oct 9, 4:03 PM ET · Delayed 15 min
Blackstone free cash flow
In fiscal 2025, Blackstone generated $4.66 billion of operating cash flow and spent $115.7 million on capital expenditures. That left free cash flow of $4.55 billion, a free-cash-flow margin of 31.5% of revenue. Free cash flow was up 33.0% from the prior year's $3.42 billion.
Blackstone returned $6.01 billion to shareholders through dividends, equal to 132% of free cash flow. Free cash flow covered dividend payments 0.8 times.
Summary generated from market data by MetaCap's automated system. Methodology
Blackstone cash flow statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20212021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 | FY 20172017-12-31 | FY 20162016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Income | 6.05B | 5.44B | 2.44B | 2.99B | 12.37B | 2.26B | 3.87B | 3.26B | 3.37B | 2.25B |
| Net Income growth (YoY) | +11.20% | +122.47% | -18.22% | -75.85% | +447.20% | -41.50% | +18.46% | -3.30% | +50.05% | +38.47% |
| Depreciation & Amortization | 98.00M | 98.80M | 94.10M | 69.20M | 52.20M | 35.10M | 26.30M | 23.90M | 25.20M | 32.00M |
| Stock-Based Compensation | 1.45B | 1.17B | 987.55M | 846.35M | 637.44M | 438.34M | 417.09M | 366.93M | 338.69M | 323.65M |
| Change in Working Capital | 135.94M | 115.74M | 150.04M | 309.00M | 394.48M | 167.25M | -612.13M | -391.14M | -455.83M | -28.54M |
| Operating Cash Flow | 4.66B | 3.48B | 4.06B | 6.34B | 3.99B | 1.94B | 1.96B | 45.74M | -1.63B | -88.59M |
| Capital Expenditures | -115.70M | -61.41M | -224.23M | -235.50M | -64.32M | -111.65M | -60.28M | -18.38M | -24.35M | -21.83M |
| Investing Cash Flow | -115.70M | -61.41M | -229.65M | -235.50M | -64.32M | -166.82M | -60.28M | -116.60M | -193.26M | -21.83M |
| Dividends Paid | -6.01B | -4.42B | -4.27B | -6.52B | -4.60B | -2.39B | -2.40B | -3.05B | -2.84B | — |
| Debt Issued | 2.81B | 741.17M | 494.98M | 3.52B | 2.22B | 888.64M | 1.55B | 3.22B | 7.60B | — |
| Debt Repaid | -1.81B | -103.22M | -502.46M | -280.77M | 0 | -1.89M | -403.40M | -1.01B | -1.77B | -420.71M |
| Financing Cash Flow | -3.88B | -4.50B | -5.05B | -3.79B | -3.78B | -2.24B | -1.92B | -1.33B | 2.77B | 570.17M |
| Net Change in Cash | 678.49M | -1.10B | -1.22B | 2.29B | 135.28M | -459.19M | -21.51M | -1.39B | 1.08B | 425.69M |
| Free Cash Flow | 4.55B | 3.42B | 3.83B | 6.10B | 3.92B | 1.82B | 1.90B | 27.36M | -1.65B | -110.42M |
This table shows 10 annual periods of Blackstone's cash flow statement, from FY 2025 back to FY 2016, across 13 line items including net income, depreciation & amortization, stock-based compensation. Values in USD; B = billions, M = millions. Fiscal periods follow BX's reporting calendar. What is a cash flow statement?