Blackstone Inc. FY 2025 10-K, explained in plain English
Key financials — as reported
| Total revenue | $14.5B |
| Gross margin | — not reported |
| Operating income | — not reported |
| Net income | $3.0B |
| Diluted EPS | $3.87 |
| Cash & equivalents | $2.6B |
| Total assets | $47.7B |
| Long-term debt | $12.6B |
Key takeaway
Blackstone reported $14.45 billion in revenue and $3.02 billion in net income for 2025, with a large gain-on-investments line of $5.25 billion boosting pre-tax income to $7.17 billion.
🔒 4 more takeaways in the full analysis
Beneath the surface
Book debt of $12.45 billion (DebtInstrumentCarryingAmount) has a fair value of only $11.39 billion, suggesting the market values Blackstone's debt below face value, potentially reflecting rate or spread changes since issuance.
🔒 3 more insights a headline reader would miss
This is the free preview. The full analysis explains every line item above and includes 7 more findings — plus insider trades, activist stakes, and 8-K events for BX.
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