Blackstone Inc. (BX)

Investment Advice

Latest Price

$112.09

TTM P/E

25.13

Normalized P/E

33.34

Div Yield

4.43%

Book Value

12.13

P/B Ratio

9.24

Valuation metrics

EPS: $3.87

Book value / share: $11.57

Formula: √(22.5 × EPS × BVPS)

Graham Number

$31.75

72% 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

71% 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

+7% upside

EPS: $3.87

Target P/E: 33×

Formula: EPS × P/E

P/E Fair Value

$127.71

+14% upside

75.8% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	51.94M	$6.11B	6.90%	-759.4K	2026-06-30
Vanguard Capital Management LLC	48.51M	$5.71B	6.45%	+200.5K	2026-06-30
Morgan Stanley	34.84M	$4.10B	4.63%	+2.35M	2026-06-30
State Street Corp	32.46M	$3.82B	4.31%	+435.9K	2026-06-30
Charles Schwab Investment Management Inc	23.50M	$2.77B	3.12%	+2.14M	2026-06-30
Sixth Street Partners Management Company, L.P.	23.50M	$2.77B	3.12%	--	2026-06-30
JPMorgan Chase & Co	19.16M	$2.20B	2.55%	-809.1K	2026-06-30
Geode Capital Management, LLC	18.37M	$2.15B	2.44%	+48.7K	2026-06-30
Vanguard Portfolio Management LLC	15.77M	$1.85B	2.10%	-270.2K	2026-06-30
Capital Research Global Investors	13.20M	$1.55B	1.75%	-1.55M	2026-06-30