Blackstone Mtg Tr Inc Financials
This page shows Blackstone Mtg Tr Inc (BXMT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
Blackstone Mortgage Trust’s visible mechanic is leveraged asset income producing cash while a thinner equity base carries more liabilities.
From FY2023-FY2025, operating cash flow stayed positive, slipping from$459M to$276M even as earnings swung through a loss year. At the same time, debt-to-equity rose from 3.8x to 4.7x because equity kept shrinking, which means the asset book is still throwing off cash but rests on a thinner common-equity buffer.
The most important operating distinction is cash stability versus earnings volatility: FY2024 posted a net loss of
Shareholder payouts were larger than operating cash flow in both recent years, with FY2025 dividends of
Financial Health Signals
Blackstone Mtg Tr Inc does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
Blackstone Mtg Tr Inc passes 5 of 5 computable financial strength tests (4 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 1 leverage/liquidity signals pass.
For every $1 of reported earnings, Blackstone Mtg Tr Inc generates $2.52 in operating cash flow ($275.9M OCF vs $109.6M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Blackstone Mtg Tr Inc reported $109.6M in net income in fiscal year 2025. This represents an increase of 153.7% from the prior year.
Blackstone Mtg Tr Inc earned $0.64 per diluted share (EPS) in fiscal year 2025. This represents an increase of 154.7% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Blackstone Mtg Tr Inc held $452.5M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Blackstone Mtg Tr Inc paid $1.88 per share in dividends in fiscal year 2025. This represents a decrease of 13.8% from the prior year.
Not reported for fiscal year 2025.
Margins & Returns
Blackstone Mtg Tr Inc's ROE was 3.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 8.5 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
Blackstone Mtg Tr Inc spent $109.5M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 274.6% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
BXMT Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | $2.0B+52.2% | $1.3B+56.7% | $854.7M+9.6% | $779.6M-11.7% | $882.7M+16.7% | $756.1M+40.6% | $537.9M+8.0% | $498.0M+21.3% | $410.6M+122.2% | $184.8M+247.5% | $53.2M+52.2% | $34.9M-70.2% | $117.2M |
| SG&A Expenses | N/A | $52.2M-3.2% | $53.9M+5.4% | $51.1M-2.0% | $52.2M+20.9% | $43.2M-5.9% | $45.9M+18.1% | $38.9M+9.4% | $35.5M+18.7% | $29.9M+8.0% | $27.7M-24.5% | $36.7M+32.1% | $27.8M+141.6% | $11.5M+11.0% | $10.4M+15.4% | $9.0M |
| Interest Expense | N/A | $988.9M-23.3% | $1.3B-5.6% | $1.4B+92.3% | $710.9M+109.0% | $340.2M-2.1% | $347.5M-24.2% | $458.5M+27.5% | $359.6M+53.1% | $234.9M+27.5% | $184.3M+20.9% | $152.4M+120.4% | $69.1M+283.8% | $18.0M-52.8% | $38.1M-60.7% | $97.0M |
| Income Tax | N/A | $3.7M+54.5% | $2.4M-55.7% | $5.4M+78.6% | $3.0M+609.9% | $423K+31.0% | $323K+163.8% | -$506K-264.3% | $308K-1.9% | $314K+60.2% | $196K-61.1% | $504K-2.7% | $518K-47.9% | $995K+471.8% | $174K-87.8% | $1.4M |
| Net Income | N/A | $109.6M+153.7% | -$204.1M-182.8% | $246.6M-0.8% | $248.6M-40.7% | $419.2M+204.5% | $137.7M-54.9% | $305.6M+7.2% | $285.1M+31.0% | $217.6M-8.7% | $238.3M+21.1% | $196.8M+118.6% | $90.0M+499.0% | $15.0M-91.7% | $181.0M-29.9% | $258.1M |
| EPS (Diluted) | — | $0.64+154.7% | -$1.17-181.8% | $1.43-2.1% | $1.46-47.3% | $2.77+185.6% | $0.97-58.7% | $2.35 | N/A | N/A | N/A | N/A | $1.86 | $0.81 | $73.13-32.1% | $107.78 |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, Operating Income.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
BXMT Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $20.0B+1.0% | $19.8B-17.6% | $24.0B-5.2% | $25.4B+11.7% | $22.7B+33.9% | $17.0B+2.5% | $16.6B+14.4% | $14.5B+41.0% | $10.3B+16.4% | $8.8B-6.0% | $9.4B+105.1% | $4.6B+106.7% | $2.2B+586.5% | $322.3M-76.4% | $1.4B |
| Cash & Equivalents | $452.5M+39.9% | $323.5M-7.6% | $350.0M+20.1% | $291.3M-47.1% | $551.2M+90.1% | $290.0M+93.2% | $150.1M+42.0% | $105.7M+3.1% | $102.5M+35.7% | $75.6M-21.7% | $96.5M+86.2% | $51.8M-1.0% | $52.3M+239.4% | $15.4M-55.7% | $34.8M |
| Total Liabilities | $16.5B+3.1% | $16.0B-18.5% | $19.6B-5.6% | $20.8B+15.1% | $18.1B+38.5% | $13.1B+2.3% | $12.8B+15.1% | $11.1B+51.1% | $7.3B+16.2% | $6.3B-8.0% | $6.9B+123.7% | $3.1B+111.0% | $1.5B+485.0% | $248.9M-83.4% | $1.5B |
| Long-Term Debt | N/A | N/A | $16.5B-6.1% | $17.6B+16.6% | $15.1B+51.0% | $10.0B-12.8% | $11.5B+19.1% | $9.6B | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $3.5B-7.6% | $3.8B-13.3% | $4.4B-3.3% | $4.5B-1.5% | $4.6B+18.1% | $3.9B+3.3% | $3.8B+11.8% | $3.4B+15.6% | $2.9B+16.7% | $2.5B0.0% | $2.5B+70.1% | $1.5B+104.1% | $717.9M+877.5% | $73.4M+166.5% | -$110.4M |
| Retained Earnings | -$1.9B-12.2% | -$1.7B-50.6% | -$1.2B-18.8% | -$968.7M-21.9% | -$794.8M+4.2% | -$829.3M-40.0% | -$592.5M-4.1% | -$569.4M-0.4% | -$567.2M-4.8% | -$541.1M+0.9% | -$545.8M+0.3% | -$547.6M-2.1% | -$536.2M-0.1% | -$535.9M+19.7% | -$667.1M |
Not reported in any period shown, so not listed: Current Assets, Inventory, Accounts Receivable, Goodwill, Current Liabilities.
BXMT Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $353.1M | $275.9M-24.7% | $366.5M-20.1% | $458.8M+15.6% | $396.8M+3.7% | $382.5M+13.6% | $336.6M+10.7% | $304.0M+4.8% | $290.0M+27.5% | $227.5M-3.9% | $236.7M+38.1% | $171.4M+112.6% | $80.6M+181.3% | $28.7M+323.6% | $6.8M-76.6% | $28.9M |
| Investing Cash Flow | $776.5M | $359.4M-89.7% | $3.5B+142.2% | $1.4B+144.4% | -$3.3B+42.2% | -$5.6B-6276.7% | -$88.3M+95.3% | -$1.9B+56.0% | -$4.3B-444.6% | -$780.8M-279.9% | $434.1M | N/A | -$2.4B-35.4% | -$1.8B-1040.1% | $189.6M-90.9% | $2.1B |
| Financing Cash Flow | -$1.1B | -$514.4M+86.8% | -$3.9B-110.1% | -$1.8B-170.9% | $2.6B-52.7% | $5.5B+5072.7% | -$110.8M-106.9% | $1.6B-59.3% | $4.0B+588.6% | $574.7M+182.2% | -$699.6M | N/A | $2.3B+30.3% | $1.8B+929.9% | -$215.8M+89.8% | -$2.1B |
| Dividends Paid | $319.1M | $322.7M-20.1% | $404.0M-5.4% | $426.9M+1.3% | $421.4M+13.7% | $370.7M+6.2% | $348.9M+8.7% | $321.0M+15.8% | $277.3M+18.0% | $235.0M+1.0% | $232.8M+39.4% | $167.0M+98.2% | $84.2M+983.3% | $7.8M-84.1% | $49.0M | N/A |
| Share Buybacks | $81.7M | $109.5M+274.6% | $29.2M | $0 | $0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Capital Expenditures, Free Cash Flow.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
BXMT Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | N/A | N/A | 12.1%-6.5pp | 18.6%-30.5pp | 49.0%+31.4pp | 17.7%-17.0pp | 34.6%-3.1pp | 37.7%-2.8pp | 40.5%-7.4pp | 47.9%-0.1pp | 47.9%-0.8pp | 48.7%+20.5pp | 28.3% | 518.1% | 220.3% |
| Return on Equity | 3.1%+8.5pp | -5.4%-11.0pp | 5.7%+0.2pp | 5.5%-3.6pp | 9.1%+5.6pp | 3.5%-4.6pp | 8.1%-0.4pp | 8.5%+1.0pp | 7.5%-2.1pp | 9.6%+1.7pp | 7.9%+1.8pp | 6.1%+4.1pp | 2.1%-244.4pp | 246.5% | N/A |
| Return on Assets | 0.5%+1.6pp | -1.0%-2.1pp | 1.0%+0.1pp | 1.0%-0.9pp | 1.8%+1.0pp | 0.8%-1.0pp | 1.8%-0.1pp | 2.0%-0.2pp | 2.1%-0.6pp | 2.7%+0.6pp | 2.1%+0.1pp | 2.0%+1.3pp | 0.7%-55.5pp | 56.2%+37.3pp | 18.9% |
| Debt-to-Equity | 4.72+0.5x | 4.23+0.4x | 3.78-0.1x | 3.89+0.6x | 3.29+0.7x | 2.57-0.5x | 3.04+0.2x | 2.86+0.3x | 2.520.0x | 2.53-0.2x | 2.76+0.7x | 2.10+0.1x | 2.03-1.4x | 3.39 | N/A |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Current Ratio, FCF Margin.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Net Margin.
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Where Blackstone Mtg Tr Inc Ranks
Frequently Asked Questions
Is Blackstone Mtg Tr Inc profitable?
Yes, Blackstone Mtg Tr Inc (BXMT) reported a net income of $109.6M in fiscal year 2025.
Does Blackstone Mtg Tr Inc pay dividends?
Yes, Blackstone Mtg Tr Inc (BXMT) paid $1.88 per share in dividends during fiscal year 2025.
What is Blackstone Mtg Tr Inc's return on equity (ROE)?
Blackstone Mtg Tr Inc (BXMT) has a return on equity of 3.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Blackstone Mtg Tr Inc's operating cash flow?
Blackstone Mtg Tr Inc (BXMT) generated $275.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Blackstone Mtg Tr Inc's total assets?
Blackstone Mtg Tr Inc (BXMT) had $20.0B in total assets as of fiscal year 2025, including both current and long-term assets.
What is Blackstone Mtg Tr Inc's debt-to-equity ratio?
Blackstone Mtg Tr Inc (BXMT) had a debt-to-equity ratio of 4.72 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Blackstone Mtg Tr Inc's return on assets (ROA)?
Blackstone Mtg Tr Inc (BXMT) had a return on assets of 0.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Blackstone Mtg Tr Inc's Piotroski F-Score?
Blackstone Mtg Tr Inc (BXMT) has a Piotroski F-Score of 5 out of 5 computable signals; 4 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Blackstone Mtg Tr Inc's earnings high quality?
Blackstone Mtg Tr Inc (BXMT) has an earnings quality ratio of 2.52x, considered cash-backed (high 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.