Summary
Blackstone Inc. (BX) reported total revenues of $6.1 billion for the fiscal year ended December 31, 2020, a decrease of 17% from the previous year, primarily impacted by $1.5 billion lower investment income due to COVID-19 effects. Despite the revenue decline, Management and Advisory Fees, Net increased by 18% to $4.1 billion, driven by growth in the Real Estate and Private Equity segments. Total Assets Under Management (AUM) grew to $618.6 billion by year-end 2020, an increase of $47.4 billion, demonstrating the firm's continued ability to attract capital across its diversified business segments. The company's Fee Related Earnings (FRE) increased by 15% to $2.3 billion, indicating a growing base of recurring revenue. Net income attributable to The Blackstone Group Inc. declined by 49% to $1.05 billion, largely due to the decrease in investment income and a less favorable change in the Tax Receivable Agreement Liability. The company maintained a strong liquidity position with $2.0 billion in cash and cash equivalents and $2.6 billion in corporate treasury investments.
Financial Highlights
42 data points| Revenue | $6.10B |
| Operating Expenses | $3.48B |
| Interest Expense | $166.16M |
| Net Income | $1.05B |
| EPS (Basic) | $1.50 |
| EPS (Diluted) | $1.50 |
| Shares Outstanding (Basic) | 696.93M |
| Shares Outstanding (Diluted) | 697.26M |
Key Highlights
- 1Total Revenues decreased by 17% to $6.1 billion for the year ended December 31, 2020, primarily due to a 42% decrease in Net Income Attributable to The Blackstone Group Inc. to $1.05 billion.
- 2Management and Advisory Fees, Net increased by 18% to $4.1 billion, driven by growth in Fee-Earning Assets Under Management, particularly in the Real Estate and Private Equity segments.
- 3Total Assets Under Management (AUM) increased by 8% to $618.6 billion as of December 31, 2020.
- 4Fee Related Earnings (FRE) increased by 15% to $2.3 billion, indicating a growing recurring revenue base.
- 5The company reported $2.0 billion in cash and cash equivalents and $2.6 billion in corporate treasury investments as of December 31, 2020, maintaining a strong liquidity position.
- 6The COVID-19 pandemic significantly impacted Investment Income (Loss), which decreased by 42% to $2.0 billion, mainly driven by declines in the Real Estate and Credit & Insurance segments.
- 7Blackstone continued its dividend policy, paying $2.26 per share in dividends for 2020.