Blackstone Inc. (BX)

Investment Advice

Latest Price

$127.75

TTM P/E

32.76

Normalized P/E

37.07

Div Yield

3.71%

Book Value

10.66

P/B Ratio

11.99

Valuation metrics

EPS: $3.87

Book value / share: $11.57

Formula: √(22.5 × EPS × BVPS)

Graham Number

$31.75

75% downside

Norm. op. income: $4.0B (median of 7yr)

Tax rate: 15%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$32.50

75% downside

Base FCF: $3.9B (median of recent 5yr)

Growth: 10%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$120.44

6% downside

EPS: $3.87

Target P/E: 37×

Formula: EPS × P/E

P/E Fair Value

$143.19

+12% upside

67.7% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	52.70M	$6.06B	7.01%	+1.27M	2026-03-31
VANGUARD CAPITAL MANAGEMENT LLC	48.31M	$5.55B	6.43%	--	2026-03-31
MORGAN STANLEY	32.49M	$3.74B	4.32%	-367.7K	2026-03-31
STATE STREET CORP	32.03M	$3.68B	4.26%	+485.7K	2026-03-31
CHARLES SCHWAB INVESTMENT MANAGEMENT INC	21.36M	$2.46B	2.84%	+17.01M	2026-03-31
GEODE CAPITAL MANAGEMENT, LLC	18.32M	$2.10B	2.44%	+1.00M	2026-03-31
VANGUARD PORTFOLIO MANAGEMENT LLC	16.04M	$1.84B	2.13%	--	2026-03-31
Capital Research Global Investors	14.74M	$1.69B	1.96%	+8.36M	2026-03-31
BANK OF AMERICA CORP /DE/	11.54M	$1.33B	1.54%	+384.3K	2026-03-31
UBS Group AG	8.70M	$1.00B	1.16%	+2.11M	2026-03-31