BX — Blackstone Inc.
$117.67
Target: $165.00 (+40%)
P/E Ratio
30.4
P/E Forward
17.9
Dividend
4.2%
Market Cap
$143.8B
EPS
$3.87
Consensus
Buy
What they do
Blackstone is the largest alternative investment firm on the planet, with $1.27 trillion in assets under management (AUM). Founded by Steve Schwarzman, it operates in four segments: Private Equity ($416B AUM), Real Estate ($319B AUM), Credit & Insurance ($443B AUM), and Multi-Asset Investing ($96B AUM). They buy companies, buildings, data centers, and lend money on a large scale. Their portfolio includes names like Hilton (hotel), Bumble (dating app), Ancestry.com (genealogy), and they are the largest financial investor in AI infrastructure globally with $55B in data centers and a pipeline of $70B+. They generated $14.45B in revenue and $7.1B in distributable earnings in 2025.
Why we like it
Blackstone at $117 is the undisputed leader in alternative assets at a time when private capital is replacing traditional banking. Revenue grew 9% to $14.45B, distributable earnings rose 20% to $5.57/share, and fee-related earnings reached $5.7B with the highest margin ever. The 4.2% dividend ($4.74/share) is attractive and variable — it increases when they perform well. Credit & Insurance is the fastest-growing segment (+21% AUM YoY), and the massive bet on data centers and AI infrastructure ($55B invested + $70B in pipeline) positions them as the 'landlord of the AI revolution'. Wall Street analysts expect: Buy with an average target of ~$165 (40%+ upside).
Key Risk
The main risk is sensitivity to borrowing costs and market cycles — if rates stay high for longer, real estate and private equity valuations shrink, reducing performance fees which are ~40% of income. Retail funds like BREIT and BCRED allow limited withdrawals, and a 'run' on redemptions could damage reputation and liquidity. Additional risks: US tariffs and trade policy create macroeconomic uncertainty; the price vs. profit (P/E) GAAP of 30x leaves little room for error; and the concentration in commercial real estate (25% of AUM) is vulnerable to a prolonged recession.
This is educational and informational content, not financial advice. Always consult a qualified financial advisor before making investment decisions.
Vectorial Data picked BX on 2026-04-08 at $117.67.
Full Research
Blackstone Inc. (BX) — Research Completo
Precio: $117.67 | P/E: 30.41 | Div Yield: 4.2% | Market Cap: $143.8B
¿Qué es Blackstone?
Blackstone Inc. es la firma de inversión alternativa más grande del mundo, con $1.27 trillones en activos bajo gestión (AUM). Fundada en 1985 por Steve Schwarzman y Pete Peterson, Blackstone invierte en private equity, bienes raíces, crédito, infraestructura y hedge funds. Su modelo de negocio genera ingresos de dos fuentes: management fees (cobran por gestionar capital de otros) y performance fees (cobran cuando las inversiones generan retornos por encima de cierto umbral).
Segmentos de Negocio
| Segmento | AUM | % del Total | Descripción |
|---|---|---|---|
| Credit & Insurance | $443B | ~35% | Crédito privado, préstamos directos, soluciones para aseguradoras |
| Private Equity | $416B | ~33% | Compra de empresas, growth equity, infraestructura |
| Real Estate | $319B | ~25% | Bienes raíces comerciales, logística, centros de datos, BREIT |
| Multi-Asset Investing | $96B | ~8% | Hedge fund solutions, estrategias multi-activo |
Empresas del Portafolio
- Hilton Hotels — inversión histórica legendaria (retorno de $14B+ en profit)
- Bumble — app de citas
- Ancestry.com — plataforma de genealogía y ADN ($4.7B)
- Hipgnosis Songs Fund — derechos musicales de artistas como Shakira, Red Hot Chili Peppers
- $55B en centros de datos — el mayor inversionista financiero en AI infrastructure del mundo
- $70B+ en pipeline de desarrollo de data centers
Números Clave 2025
| Métrica | Valor |
|---|---|
| Revenue | $14.45B (+9.2% YoY) |
| Net Income | $3.02B (+8.7% YoY) |
| EPS (GAAP) | $3.87 (+6.9% YoY) |
| Distributable Earnings | $7.1B ($5.57/acción, +20% YoY) |
| Fee-Related Earnings | $5.7B (+9% YoY, margen récord) |
| Total AUM | $1.27T (+13% YoY) |
Dividendo — Variable y Generoso
- Dividendo anual: $4.74/acción
- Yield: 4.2%
- Tipo: Variable (basado en distributable earnings)
- Último pago: $1.49/acción (feb 2026, +16% vs trimestre anterior)
- Frecuencia: Trimestral
Análisis de Analistas
| Métrica | Valor |
|---|---|
| Consenso | Buy |
| # Analistas Buy | 12 (57%) |
| # Analistas Hold | 10 (43%) |
| # Analistas Sell | 0 |
| Price Target Promedio | $165 |
| Price Target Alto | $215 |
| Price Target Bajo | $122 |
| Upside al Target | +40% |
Catalizadores de Crecimiento
- Infraestructura de AI — $55B invertidos + $70B en pipeline de data centers
- Credit & Insurance — segmento de más rápido crecimiento (+21% AUM YoY)
- Ciclo de bajada de tasas — activos alternativos se revalorizan y performance fees explotan
- Deal-making recovery — $7T+ en dry powder global en PE, ciclo de exits por reactivarse
- Life Sciences — fondo BXLS VI de $6.3B con 86% de success rate en aprobaciones Phase III
Riesgos Principales
- Sensibilidad a tasas de interés — tasas altas comprimen valuaciones de PE y real estate
- BREIT/BCRED redemptions — una "corrida" en fondos retail dañaría reputación y liquidez
- Concentración en real estate — 25% del AUM en bienes raíces comerciales
- P/E GAAP elevado — 30x deja poco margen de error
- Riesgo regulatorio — mayor escrutinio a private equity y crédito privado
Valuación Actual
| Métrica | Valor |
|---|---|
| Precio | $117.67 |
| P/E GAAP | 30.41x |
| P/E Forward (est. 2026) | ~17.9x |
| Div Yield | 4.2% |
Conclusión
Blackstone es el rey indiscutible de los activos alternativos — $1.27T en AUM, crecimiento de 13%, y posicionamiento único en AI, crédito privado, e infraestructura. A $117.67, la acción cotiza significativamente por debajo de los targets de analistas (~$165, 40% upside) por miedos macro temporales. El dividendo de 4.2% te paga por esperar.
Research fecha: 8 Abr 2026 | Próxima revisión: Oct 2026
Esto no es asesoría financiera.
This is not financial advice. Consult a certified financial advisor.
The author may hold positions in the securities discussed.
Past performance does not guarantee future results.