Blackstone (BX) FY2020 results: revenue $6.1 billion, down 16.8% on the year
Blackstone Inc. (BX) reported revenue of $6.1 billion for fiscal 2020, the year ended 31 December 2020, down 16.8% on the year before. Net income was $1.0 billion, down 49.0%, and diluted earnings per share $1.50. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2021.
Revenue
$6.1 billion
-16.8% on the year
FY2013FY2020
Operating margin
43.0%
46.0% a year earlier
FY2013FY2020
Net income
$1.0 billion
-49.0% on the year
FY2013FY2020
Diluted EPS
$1.50
-50.5% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
6,102
7,338
6,833
-16.8%
Operating income
2,622
3,374
3,321
-22.3%
Operating margin
43.0%
46.0%
48.6%
Interest expense
166
200
164
-16.8%
Pre-tax income
2,618
3,818
3,513
-31.4%
Income tax
356
-48.0
249
Effective tax rate
13.6%
-1.3%
7.1%
Net income
1,045
2,050
1,542
-49.0%
Net margin
17.1%
27.9%
22.6%
Diluted EPS
$1.50
$3.03
$2.26
-50.5%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
1,936
1,963
45.7
-1.4%
Capital expenditure
112
60.3
18.4
+85.2%
Free cash flow
1,824
1,903
27.4
-4.1%
Free cash flow margin
29.9%
25.9%
0.4%
Cash from investing
-167
-60.3
-117
Cash from financing
-2,244
-1,921
-1,330
Depreciation and amortisation
106
97.3
82.9
+9.1%
Share-based compensation
438
417
367
+5.1%
Dividends paid
2,386
2,397
3,046
-0.5%
Dividend per share
$1.91
$1.92
$2.42
-0.5%
Diluted shares, weighted
697m
676m
1,207m
+3.1%
Shares outstanding at period end
684m
n/a
n/a
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
6,652
7,010
6,379
-5.1%
Non-controlling interest
7,873
8,006
7,233
-1.7%
Redeemable equity
65.2
87.7
142
-25.7%
Debt
5,732
11,542
10,395
-50.3%
Other liabilities
5,946
5,941
4,775
+0.1%
Total liabilities and equity
26,269
32,586
28,925
-19.4%
Fixed assets
232
154
120
+50.1%
Goodwill
1,901
1,870
1,870
+1.7%
Intangible assets
348
398
469
-12.5%
Cash and equivalents
1,999
2,172
2,208
-8.0%
Other assets
21,789
27,991
24,258
-22.2%
Total assets
26,269
32,586
28,925
-19.4%
10-K for the year ended 31 December 2020, filed 26 February 2021: the filing.