What is BLACKSTONE REIT INC's earnings per share (EPS)?

BLACKSTONE REIT INC (BSTT) reported diluted earnings per share of $-0.92 for fiscal year 2025. This represents a -300.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

BLACKSTONE REIT INC Financials

BSTT

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows BLACKSTONE REIT INC (BSTT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 9 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 41/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

100

BLACKSTONE REIT INC has an operating margin of 50.7%, meaning the company retains $51 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is down from 63.3% the prior year.

Growth

BLACKSTONE REIT INC's revenue declined 6.7% year-over-year, from $8.5B to $8.0B. This contraction results in a growth score of 22/100.

Leverage

BLACKSTONE REIT INC has a moderate D/E ratio of 2.87. This balance of debt and equity financing earns a leverage score of 43/100.

Returns

BLACKSTONE REIT INC generates a -17.0% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -3.3% the prior year.

Piotroski F-Score Neutral

5/9

BLACKSTONE REIT INC passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed

-0.70x

For every $1 of reported earnings, BLACKSTONE REIT INC generates $-0.70 in operating cash flow ($2.3B OCF vs -$3.3B net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue

$8.0B

YoY-6.7%

5Y CAGR+25.6%

BLACKSTONE REIT INC generated $8.0B in revenue in fiscal year 2025. This represents a decrease of 6.7% from the prior year.

EBITDA

$7.3B

YoY-19.2%

5Y CAGR+19.8%

BLACKSTONE REIT INC's EBITDA was $7.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 19.2% from the prior year.

Net Income

-$3.3B

YoY-268.8%

BLACKSTONE REIT INC reported -$3.3B in net income in fiscal year 2025. This represents a decrease of 268.8% from the prior year.

EPS (Diluted)

$-0.92

YoY-300.0%

BLACKSTONE REIT INC earned $-0.92 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 300.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$1.6B

YoY-17.0%

5Y CAGR+36.9%

BLACKSTONE REIT INC held $1.6B in cash against $55.5B in long-term debt as of fiscal year 2025.

Dividends Per Share

$0.66

YoY-0.3%

5Y CAGR+0.7%

BLACKSTONE REIT INC paid $0.66 per share in dividends in fiscal year 2025. This represents a decrease of 0.3% from the prior year.

Shares Outstanding

3.52B

YoY-4.6%

5Y CAGR+14.4%

BLACKSTONE REIT INC had 3.52B shares outstanding in fiscal year 2025. This represents a decrease of 4.6% from the prior year.

Margins & Returns

Gross Margin

53.6%

YoY+1.2pp

5Y CAGR-6.7pp

BLACKSTONE REIT INC's gross margin was 53.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.2 percentage points from the prior year.

Operating Margin

50.7%

YoY-12.6pp

5Y CAGR-11.0pp

BLACKSTONE REIT INC's operating margin was 50.7% in fiscal year 2025, reflecting core business profitability. This is down 12.6 percentage points from the prior year.

Net Margin

-41.3%

YoY-30.8pp

5Y CAGR-7.8pp

BLACKSTONE REIT INC's net profit margin was -41.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 30.8 percentage points from the prior year.

Return on Equity

-17.0%

YoY-13.7pp

5Y CAGR-11.6pp

BLACKSTONE REIT INC's ROE was -17.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 13.7 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$6.1B

YoY-34.1%

5Y CAGR+38.6%

BLACKSTONE REIT INC spent $6.1B on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 34.1% from the prior year.

Capital Expenditures

N/A

BSTT Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$8.0B-6.7%	$8.5B-4.5%	$8.9B+16.8%	$7.6B+106.8%	$3.7B+44.9%	$2.6B
Cost of Revenue	$3.7B-9.0%	$4.1B-1.8%	$4.1B+20.6%	$3.4B+127.1%	$1.5B+48.9%	$1.0B
Gross Profit	$4.3B-4.6%	$4.5B-6.8%	$4.8B+13.8%	$4.2B+92.9%	$2.2B+42.2%	$1.5B
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$69.5M+7.8%	$64.5M-6.8%	$69.2M+31.4%	$52.7M+64.3%	$32.0M+24.9%	$25.7M
Operating Income	$4.0B-25.3%	$5.4B-9.5%	$6.0B+60.5%	$3.7B-0.4%	$3.7B+137.3%	$1.6B
Interest Expense	N/A	$3.3B+8.6%	$3.1B+33.2%	$2.3B+172.3%	$847.4M+19.0%	$712.4M
Income Tax	-$1.2M-107.7%	$15.5M+634.5%	-$2.9M-122.1%	$13.1M+4266.7%	$300K+112.0%	-$2.5M
Net Income	-$3.3B-268.8%	-$890.5M-28.7%	-$691.8M+21.7%	-$883.5M-9.8%	-$804.8M+5.7%	-$853.4M
EPS (Diluted)	$-0.92-300.0%	$-0.23-43.8%	$-0.16+20.0%	$-0.20+33.3%	$-0.30+43.4%	$-0.53

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$2.0B+1.1%	$1.9B-2.7%	$2.0B-2.8%	$2.1B-1.6%	$2.1B-0.3%	$2.1B-3.0%	$2.2B-1.4%	$2.2B
Cost of Revenue	$895.3M-2.4%	$916.9M-1.1%	$926.8M-2.8%	$953.1M-5.6%	$1.0B-2.5%	$1.0B+3.1%	$1.0B-0.1%	$1.0B
Gross Profit	$1.1B+4.2%	$1.0B-4.2%	$1.1B-2.8%	$1.1B+2.2%	$1.1B+1.9%	$1.1B-8.2%	$1.2B-2.5%	$1.2B
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$18.5M+3.3%	$18.0M+6.3%	$16.9M+4.8%	$16.1M+8.7%	$14.8M-3.5%	$15.4M-14.4%	$17.9M+9.8%	$16.4M
Operating Income	$1.2B+18.0%	$1.0B-18.3%	$1.3B+153.0%	$502.1M-61.6%	$1.3B+7.9%	$1.2B-8.0%	$1.3B-15.5%	$1.6B
Interest Expense	N/A	N/A	$777.8M+1.6%	$765.8M-3.5%	$793.3M-7.0%	$853.0M-0.6%	$857.9M+3.1%	$831.7M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$460.4M+27.9%	-$638.7M-30.7%	-$488.5M+71.2%	-$1.7B-562.3%	$367.0M+160.6%	-$606.1M-16.9%	-$518.5M-289.8%	-$133.0M
EPS (Diluted)	N/A	$-0.18-28.6%	$-0.14+70.2%	$-0.47	N/A	$-0.16-23.1%	$-0.13-333.3%	$-0.03

BSTT Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$98.6B-15.2%	$116.2B-11.1%	$130.8B-8.3%	$142.7B+34.2%	$106.3B+161.4%	$40.7B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$1.6B-17.0%	$1.9B-0.6%	$1.9B+51.8%	$1.3B+29.5%	$989.7M+196.9%	$333.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$499.5M-22.1%	$641.6M-19.2%	$793.7M-3.4%	$821.3M+115.5%	$381.2M+249.2%	$109.2M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$71.9B-11.6%	$81.4B-6.4%	$87.0B-5.4%	$91.9B+38.1%	$66.6B+172.0%	$24.5B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$55.5B-5.1%	$58.5B-5.1%	$61.7B-5.0%	$65.0B+57.2%	$41.3B+106.9%	$20.0B
Total Equity	$19.3B-29.3%	$27.4B-24.7%	$36.4B-18.2%	$44.5B+21.3%	$36.6B+131.2%	$15.9B
Retained Earnings	-$21.3B-34.5%	-$15.8B-25.7%	-$12.6B-37.2%	-$9.2B-63.3%	-$5.6B-74.6%	-$3.2B

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$98.6B-5.3%	$104.1B-4.5%	$109.0B-3.5%	$112.9B-2.8%	$116.2B-2.8%	$119.6B-4.9%	$125.8B-3.0%	$129.7B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$1.6B-2.2%	$1.6B-20.6%	$2.1B+6.8%	$1.9B0.0%	$1.9B+30.8%	$1.5B-9.3%	$1.6B-38.9%	$2.7B
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$499.5M-12.7%	$572.2M-3.5%	$592.7M-6.5%	$634.1M-1.2%	$641.6M-6.5%	$685.8M-6.0%	$729.8M-4.9%	$767.5M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$71.9B-6.0%	$76.5B-3.8%	$79.6B-2.7%	$81.7B+0.5%	$81.4B-3.4%	$84.2B-4.4%	$88.1B-0.5%	$88.6B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$55.5B-2.5%	$57.0B-2.0%	$58.2B-1.2%	$58.9B+0.6%	$58.5B-4.2%	$61.1B-3.4%	$63.3B-0.4%	$63.5B
Total Equity	$19.3B-3.5%	$20.0B-7.9%	$21.8B-8.3%	$23.7B-13.2%	$27.4B-1.7%	$27.8B-7.7%	$30.2B-9.9%	$33.5B
Retained Earnings	-$21.3B-4.9%	-$20.3B-6.2%	-$19.1B-5.7%	-$18.1B-14.2%	-$15.8B-1.3%	-$15.6B-8.2%	-$14.5B-8.3%	-$13.4B

BSTT Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$2.3B+9.5%	$2.1B-22.9%	$2.7B-0.8%	$2.7B+53.0%	$1.8B+83.5%	$971.9M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$11.5B+3.7%	$11.1B+12.8%	$9.9B+131.9%	-$30.9B+24.1%	-$40.6B-405.2%	-$8.0B
Financing Cash Flow	-$14.2B-8.6%	-$13.1B-8.3%	-$12.1B-144.9%	$27.0B-34.6%	$41.2B+488.4%	$7.0B
Dividends Paid	$1.1B-8.1%	$1.2B-14.4%	$1.5B+16.7%	$1.2B+75.5%	$711.6M+69.1%	$420.9M
Share Buybacks	$6.1B-34.1%	$9.3B-25.1%	$12.4B+19.1%	$10.4B+863.8%	$1.1B-9.9%	$1.2B

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$564.1M+4.5%	$540.0M-11.3%	$609.1M+6.4%	$572.5M+25.9%	$454.6M-5.4%	$480.4M-26.5%	$653.8M+31.2%	$498.5M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$3.5B-4.5%	$3.6B+13.2%	$3.2B+153.2%	$1.3B-66.5%	$3.8B+5.5%	$3.6B+90.9%	$1.9B-2.3%	$1.9B
Financing Cash Flow	-$4.1B+11.0%	-$4.6B-18.2%	-$3.9B-133.9%	-$1.7B+57.8%	-$3.9B+4.6%	-$4.1B-21.2%	-$3.4B-109.7%	-$1.6B
Dividends Paid	$283.6M-0.7%	$285.6M+0.4%	$284.4M-2.8%	$292.6M-1.6%	$297.4M-2.1%	$303.9M-3.9%	$316.4M-4.2%	$330.2M
Share Buybacks	$1.2B-8.1%	$1.4B-22.4%	$1.7B-3.2%	$1.8B+32.1%	$1.4B-33.3%	$2.0B-36.6%	$3.2B+19.9%	$2.7B

BSTT Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	53.6%+1.2pp	52.5%-1.3pp	53.8%-1.4pp	55.2%-4.0pp	59.2%-1.1pp	60.3%
Operating Margin	50.7%-12.6pp	63.3%-3.5pp	66.8%+18.2pp	48.6%-52.3pp	100.9%+39.3pp	61.6%
Net Margin	-41.3%-30.8pp	-10.4%-2.7pp	-7.7%+3.8pp	-11.6%+10.2pp	-21.8%+11.7pp	-33.5%
Return on Equity	-17.0%-13.7pp	-3.3%-1.4pp	-1.9%+0.1pp	-2.0%+0.2pp	-2.2%+3.2pp	-5.4%
Return on Assets	-3.3%-2.6pp	-0.8%-0.2pp	-0.5%+0.1pp	-0.6%+0.1pp	-0.8%+1.3pp	-2.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	2.87+0.7	2.14+0.4	1.70+0.2	1.46+0.3	1.13-0.1	1.26
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	54.4%+1.6pp	52.8%-0.8pp	53.6%0.0pp	53.6%+2.0pp	51.6%+1.1pp	50.5%-2.9pp	53.5%-0.6pp	54.1%
Operating Margin	62.3%+8.9pp	53.4%-10.2pp	63.6%+39.1pp	24.4%-38.2pp	62.7%+4.8pp	57.9%-3.2pp	61.1%-10.2pp	71.3%
Net Margin	-23.4%+9.4pp	-32.9%-8.4pp	-24.4%+58.1pp	-82.5%-100.1pp	17.6%+46.5pp	-28.9%-4.9pp	-24.0%-17.9pp	-6.1%
Return on Equity	-2.4%+0.8pp	-3.2%-0.9pp	-2.2%+4.9pp	-7.1%-8.5pp	1.3%+3.5pp	-2.2%-0.5pp	-1.7%-1.3pp	-0.4%
Return on Assets	-0.5%+0.1pp	-0.6%-0.2pp	-0.4%+1.0pp	-1.5%-1.8pp	0.3%+0.8pp	-0.5%-0.1pp	-0.4%-0.3pp	-0.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	2.87+0.0	2.84+0.2	2.67+0.2	2.48+0.3	2.14-0.1	2.20+0.1	2.10+0.2	1.90
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Frequently Asked Questions

What is BLACKSTONE REIT INC's annual revenue?

BLACKSTONE REIT INC (BSTT) reported $8.0B in total revenue for fiscal year 2025. This represents a -6.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is BLACKSTONE REIT INC's revenue growing?

BLACKSTONE REIT INC (BSTT) revenue declined by 6.7% year-over-year, from $8.5B to $8.0B in fiscal year 2025.

Is BLACKSTONE REIT INC profitable?

No, BLACKSTONE REIT INC (BSTT) reported a net income of -$3.3B in fiscal year 2025, with a net profit margin of -41.3%.

What is BLACKSTONE REIT INC's EBITDA?

BLACKSTONE REIT INC (BSTT) had EBITDA of $7.3B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does BLACKSTONE REIT INC have?

As of fiscal year 2025, BLACKSTONE REIT INC (BSTT) had $1.6B in cash and equivalents against $55.5B in long-term debt.

What is BLACKSTONE REIT INC's gross margin?

BLACKSTONE REIT INC (BSTT) had a gross margin of 53.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is BLACKSTONE REIT INC's operating margin?

BLACKSTONE REIT INC (BSTT) had an operating margin of 50.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is BLACKSTONE REIT INC's net profit margin?

BLACKSTONE REIT INC (BSTT) had a net profit margin of -41.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does BLACKSTONE REIT INC pay dividends?

Yes, BLACKSTONE REIT INC (BSTT) paid $0.66 per share in dividends during fiscal year 2025.

What is BLACKSTONE REIT INC's return on equity (ROE)?

BLACKSTONE REIT INC (BSTT) has a return on equity of -17.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is BLACKSTONE REIT INC's operating cash flow?

BLACKSTONE REIT INC (BSTT) generated $2.3B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are BLACKSTONE REIT INC's total assets?

BLACKSTONE REIT INC (BSTT) had $98.6B in total assets as of fiscal year 2025, including both current and long-term assets.

Does BLACKSTONE REIT INC buy back shares?

Yes, BLACKSTONE REIT INC (BSTT) spent $6.1B on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does BLACKSTONE REIT INC have outstanding?

BLACKSTONE REIT INC (BSTT) had 3.52B shares outstanding as of fiscal year 2025.

What is BLACKSTONE REIT INC's debt-to-equity ratio?

BLACKSTONE REIT INC (BSTT) had a debt-to-equity ratio of 2.87 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is BLACKSTONE REIT INC's return on assets (ROA)?

BLACKSTONE REIT INC (BSTT) had a return on assets of -3.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is BLACKSTONE REIT INC's Piotroski F-Score?

BLACKSTONE REIT INC (BSTT) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are BLACKSTONE REIT INC's earnings high quality?

BLACKSTONE REIT INC (BSTT) has an earnings quality ratio of -0.70x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is BLACKSTONE REIT INC?

BLACKSTONE REIT INC (BSTT) scores 41 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.