Blackstone (BX) FY2015 results: revenue $4.6 billion, down 37.9% on the year
Blackstone Inc. (BX) reported revenue of $4.6 billion for fiscal 2015, the year ended 31 December 2015, down 37.9% on the year before. Net income was $710 million, down 55.2%, and diluted earnings per share $1.04. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2016.
Revenue
$4.6 billion
-37.9% on the year
FY2008FY2015
Operating margin
33.5%
48.5% a year earlier
FY2008FY2015
Net income
$710 million
-55.2% on the year
FY2008FY2015
Diluted EPS
$1.04
-59.7% on the year
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
4,647
7,485
6,613
-37.9%
Operating income
1,556
3,629
2,746
-57.1%
Operating margin
33.5%
48.5%
41.5%
Interest expense
145
122
108
+18.9%
Pre-tax income
1,815
3,987
3,149
-54.5%
Income tax
190
291
256
-34.6%
Effective tax rate
10.5%
7.3%
8.1%
Net income
710
1,585
1,171
-55.2%
Net margin
15.3%
21.2%
17.7%
Diluted EPS
$1.04
$2.58
$1.98
-59.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
2,397
1,655
3,548
+44.8%
Capital expenditure
59.2
30.3
25.6
+95.7%
Free cash flow
2,338
1,625
3,522
+43.9%
Free cash flow margin
50.3%
21.7%
53.3%
Cash from investing
n/a
n/a
-166
Cash from financing
n/a
n/a
-3,260
Depreciation and amortisation
127
131
129
-2.4%
Share-based compensation
630
735
855
-14.3%
Dividend per share
$2.90
$1.92
$1.18
+51.0%
Diluted shares, weighted
1,188m
613m
591m
+93.8%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Redeemable equity
183
2,442
n/a
-92.5%
Debt
6,732
9,476
10,783
-29.0%
Total liabilities and equity
22,526
31,511
29,679
-28.5%
Fixed assets
136
136
137
-0.1%
Goodwill
1,719
1,787
1,787
-3.9%
Intangible assets
346
459
561
-24.7%
Cash and equivalents
1,837
1,412
832
+30.1%
Other assets
18,489
27,716
26,361
-33.3%
Total assets
22,526
31,511
29,679
-28.5%
10-K for the year ended 31 December 2015, filed 26 February 2016: the filing.