Blackstone (BX) FY2017 results: revenue $7.1 billion, up 38.8% on the year
Blackstone Inc. (BX) reported revenue of $7.1 billion for fiscal 2017, the year ended 31 December 2017, up 38.8% on the year before. Net income was $1.5 billion, up 41.5%, and diluted earnings per share $2.21. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2018.
Revenue
$7.1 billion
+38.8% on the year
FY2010FY2017
Operating margin
47.5%
42.7% a year earlier
FY2010FY2017
Net income
$1.5 billion
+41.5% on the year
FY2010FY2017
Diluted EPS
$2.21
+41.7% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
7,145
5,146
4,647
+38.8%
Operating income
3,393
2,197
1,556
+54.4%
Operating margin
47.5%
42.7%
33.5%
Interest expense
197
153
145
+29.4%
Pre-tax income
4,117
2,382
1,815
+72.8%
Income tax
743
132
190
+461.5%
Effective tax rate
18.1%
5.6%
10.5%
Net income
1,471
1,039
710
+41.5%
Net margin
20.6%
20.2%
15.3%
Diluted EPS
$2.21
$1.56
$1.04
+41.7%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
-1,626
-88.6
2,397
Capital expenditure
24.3
21.8
59.2
+11.6%
Free cash flow
-1,651
-110
2,338
Free cash flow margin
-23.1%
-2.1%
50.3%
Cash from investing
-193
-21.8
n/a
Cash from financing
2,771
570
n/a
+386.1%
Depreciation and amortisation
72.0
115
127
-37.4%
Share-based compensation
339
324
630
+4.6%
Dividends paid
2,843
n/a
n/a
Dividend per share
$2.32
$1.66
$2.90
+39.8%
Diluted shares, weighted
666m
1,195m
1,188m
-44.3%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Redeemable equity
211
185
183
+13.8%
Debt
15,167
8,941
6,732
+69.6%
Total liabilities and equity
34,429
26,403
22,526
+30.4%
Fixed assets
127
127
136
-0.2%
Goodwill
1,778
1,719
1,719
+3.5%
Intangible assets
410
263
346
+56.1%
Cash and equivalents
1,992
1,837
1,837
+8.4%
Other assets
30,122
22,458
18,489
+34.1%
Total assets
34,429
26,403
22,526
+30.4%
10-K for the year ended 31 December 2017, filed 1 March 2018: the filing.