For the year ending 2025-12-31, BX had $678,490K increase in cash & cash equivalents over the period. $4,547,458K in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income | 6,046,623 | 5,437,809 | 2,444,253 | 2,988,909 |
| Net realized gains on investments | -4,820,209 | -4,172,938 | -2,989,636 | -6,474,051 |
| Changes in unrealized (gains) losses on investments | 488,090 | 487,013 | -683,715 | -1,828,364 |
| Non-cashperformance allocations | 643,063 | 371,407 | -1,691,668 | -3,435,055 |
| Non-cashperformance allocations and incentive fee compensation | 1,948,679 | 1,941,899 | 473,364 | 931,288 |
| Equity-based compensation expense | 1,445,352 | 1,168,435 | 987,549 | 846,349 |
| Amortization of intangibles | 36,023 | 35,965 | 40,075 | 67,097 |
| Other non-cash amounts included in net income | -3,790 | 444,772 | 835,230 | 1,341,059 |
| Cash acquired with consolidation of fund entity | - | - | 0 | 31,791 |
| Cash acquired with consolidation of fund entities | 0 | 39,729 | - | - |
| Cash relinquished with deconsolidation of fund entities | -69,477 | -113,224 | -113,589 | 0 |
| Accounts receivable | 211,940 | 78,284 | -237,623 | -177,832 |
| Due from affiliates | 186,473 | 386,755 | -331,623 | -654,290 |
| Other assets | 166,395 | 560 | 47,299 | 26,853 |
| Accrued compensation and benefits | -1,493,875 | -1,211,545 | -1,071,559 | -2,197,446 |
| Securities sold, not yet purchased | - | - | - | -22,964 |
| Accounts payable, accrued expenses and other liabilities | 514,278 | 194,581 | -40,283 | 149,019 |
| Repurchase agreements | - | - | - | 31,964 |
| Due to affiliates | -124,099 | 16,930 | 85,733 | 117,219 |
| Investments purchased | 3,807,149 | 2,429,824 | 5,010,341 | 5,228,723 |
| Cash proceeds from sale of investments | 6,679,186 | 4,342,636 | 7,189,240 | 10,368,172 |
| Net cash provided by operating activities | 4,663,161 | 3,481,662 | 4,056,906 | 6,336,253 |
| Purchase of furniture, equipment and leasehold improvements | 115,703 | 61,409 | 224,231 | 235,497 |
| Net cash paid for acquisitions, net of cash acquired | 0 | - | 5,420 | 0 |
| Net cash used in investing activities | -115,703 | -61,409 | -229,651 | -235,497 |
| Distributions tonon-controllinginterest holders in consolidated entities | 1,035,141 | 874,024 | 1,003,715 | 1,271,907 |
| Contributions fromnon-controllinginterest holders in consolidated entities | 2,525,477 | 907,267 | 708,410 | 1,268,297 |
| Payments under tax receivable agreement | 43,954 | 87,508 | 64,634 | 46,880 |
| Net settlement of vested common stock and repurchase of common stock | 312,480 | 661,065 | 418,024 | 465,956 |
| Proceeds from loans payable | 2,813,736 | 741,173 | 494,975 | 3,521,544 |
| Repayment and repurchase of loans payable | 1,813,058 | 103,221 | 502,460 | 280,768 |
| Dividends/distributions to stockholders and unitholders | 6,013,385 | 4,424,183 | 4,268,447 | 6,518,785 |
| Net cash used in financing activities | -3,878,805 | -4,501,561 | -5,053,895 | -3,794,455 |
| Effect of exchange rate changes on cash and cash equivalents and cash held by blackstone funds and other | 9,837 | -14,563 | 4,988 | -12,318 |
| Net increase (decrease) | 678,490 | -1,095,871 | -1,221,652 | 2,293,983 |
| Beginning of period | 2,176,192 | 3,272,063 | 4,493,715 | 2,199,732 |
| End of period | 2,854,682 | 2,176,192 | 3,272,063 | 4,493,715 |
Blackstone Inc. (BX)
Blackstone Inc. (BX)