How much a stock's price changes over time is important for most investors, since price performance can both impact your investment portfolio and help you compare investment results across sectors and industries.
Another factor that can influence investors is FOMO, or the fear of missing out, especially with tech giants and popular consumer-facing stocks.
What if you'd invested in Blackstone Inc. (BX) ten years ago? It may not have been easy to hold on to BX for all that time, but if you did, how much would your investment be worth today?
Blackstone Inc.'s Business In-Depth
With that in mind, let's take a look at Blackstone Inc.'s main business drivers.
Headquartered in New York, Blackstone Inc. is a leading asset manager of alternative investments and a global provider of financial advisory services. In 2023, the company became the first major alternative asset manager to be part of the S&P Index. As of Sept. 30, 2025, the total AUM was $1.24 trillion, fee-earning AUM was $906.2 billion and Perpetual Capital AUM was $500.6 billion.
The company operates its businesses through four segments:
The Private Equity segment comprises the management of private equity funds, collectively called the Blackstone Capital Partners (BCP) funds, along with energy and communications-related investments. Also, the segment includes Tactical Opportunities business, Strategic Partners Fund Solutions and Blackstone Total Alternatives Solution. As of Sept. 30, 2025, segmental AUM was $395.6 billion.
The Real Estate segment primarily comprises the management of real estate funds called the Blackstone Real Estate Partners (BREP) funds. In addition, the segment has two other funds – Blackstone Real Estate Debt Strategies (BREDS) funds and Blackstone Property Partners (BPP) funds. As of Sept. 30, 2025, segmental AUM was $320.5 billion.
The Multi-Asset Investing (BXMA) segment consists of Blackstone Alternative Asset Management (BAAM), an institutional solutions provider utilizing hedge funds across a variety of strategies. The segment’s AUM was $93.3 billion as of Sept. 30, 2025.
The Credit & Insurance segment includes senior credit-focused funds, distressed debt funds, mezzanine funds and general credit-focused funds concentrated in the leveraged finance marketplace. All these are managed by Blackstone’s subsidiary. As of Sept 30, 2025, segmental AUM was $432.3 billion.
In 2017, Blackstone acquired Aon's Technology-enabled HR Business and Harvest Fund Advisors LLC. In 2018, Blackstone, along with Canada Pension Plan Investment Board and GIC, acquired a majority stake in Thomson Reuters’ Financial & Risk business and Clarus. In 2020, the company acquired DCI.
Bottom Line
While anyone can invest, building a lucrative investment portfolio takes research, patience, and a little bit of risk. If you had invested in Blackstone Inc. ten years ago, you're probably feeling pretty good about your investment today.
A $1000 investment made in December 2015 would be worth $5,121.28, or a gain of 412.13%, as of December 22, 2025, according to our calculations. This return excludes dividends but includes price appreciation.
Compare this to the S&P 500's rally of 240.78% and gold's return of 288.87% over the same time frame.
Analysts are forecasting more upside for BX too.
Blackstone's shares have outperformed the industry in the past six months. It has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in each of the trailing four quarters. A strong revenue mix, global footprint, diversified products, superior position in the alternative investments space and solid total and fee-earning assets under management (AUM) balances will likely fuel growth. Strong fundraising capabilities and ample deployable capital enhance revenue prospects. A solid balance sheet supports its ability to meet debt obligations. However, macroeconomic uncertainty continues to pose operational challenges. Elevated operating expenses due to higher compensation and administrative costs will hurt profits. The volatility in earnings raises concerns about the sustainability of its capital distributions.
The stock has jumped 6.25% over the past four weeks. Additionally, no earnings estimate has gone lower in the past two months, compared to 8 higher, for fiscal 2025; the consensus estimate has moved up as well.
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Blackstone Inc. (BX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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