Blackstone (BX) Operating Expenses (2009 - 2026)
Blackstone (BX) posted Operating Expenses of $2.4 billion for Q2 2026, up 5.01% on a QoQ basis from $2.3 billion in Q1 2026, and up 22.92% year-over-year from $1.9 billion in Q2 2025.
Analysis
Blackstone (BX) Operating Expenses (2009 - 2026) Analysis & Trends
Blackstone has reported Operating Expenses for 18 years, with the latest figure at $2.4 billion in Q2 2026.
- On a quarterly basis, Operating Expenses rose 22.92% year-over-year to $2.4 billion in Q2 2026; TTM through Jun 2026 was $8.5 billion, a 17.86% increase from a year earlier, with the FY2025 full-year figure at $7.7 billion, up 12.95% from the prior year.
- Operating Expenses was $2.4 billion for Q2 2026 at Blackstone, up from $2.3 billion in the prior quarter.
- The five-year high for Operating Expenses was $2.4 billion in Q2 2026, with the low at $744.1 million in Q2 2022.
- Average Operating Expenses over 5 years is $1.6 billion, with a median of $1.7 billion recorded in 2024.
- The sharpest annual moves came in 2022 and 2023: Operating Expenses slumped 67.25% in 2022, then jumped 98.26% in 2023.
- Over 5 years, Operating Expenses stood at $1.1 billion in 2022, then dropped by 12.05% to $941.6 million in 2023, then soared by 59.32% to $1.5 billion in 2024, then soared by 41.65% to $2.1 billion in 2025, then grew by 11.8% to $2.4 billion in 2026.
- The last three Operating Expenses figures came in at $2.4 billion (Q2 2026), $2.3 billion (Q1 2026), and $2.1 billion (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Blackstone | 103.57 Bn | 101.06 Bn | - | 2.38 Bn |
| 2 | Kkr | 93.46 Bn | -183.61 Bn | - | 5.41 Bn |
| 3 | Apollo Global Management | 77.60 Bn | 52.22 Bn | 10.54 Bn | 8.74 Bn |
| 4 | Brookfield Asset Management | 76.45 Bn | 74.94 Bn | - | 659.00 Mn |
| 5 | Wheaton Precious Metals | 71.34 Bn | 71.24 Bn | 687.86 Mn | 133.83 Mn |
| 6 | Franco Nevada | 51.21 Bn | 49.67 Bn | 451.00 Mn | 5.30 Mn |
| 7 | Brookfield | 37.98 Bn | 7.42 Bn | 19.38 Bn | -14.94 Bn |
| 8 | Ares Management | 30.49 Bn | 30.49 Bn | - | 1.18 Bn |
| 9 | Carlyle | 15.82 Bn | 14.57 Bn | - | 875.90 Mn |
| 10 | Tpg | 8.08 Bn | 7.13 Bn | - | 1.50 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 2.38 Bn |
| Mar 31, 2026 | 2.26 Bn |
| Dec 31, 2025 | 2.12 Bn |
| Sep 30, 2025 | 1.75 Bn |
| Jun 30, 2025 | 1.93 Bn |
| Mar 31, 2025 | 1.89 Bn |
| Dec 31, 2024 | 1.50 Bn |
| Sep 30, 2024 | 1.90 Bn |
| Jun 30, 2024 | 1.63 Bn |
| Mar 31, 2024 | 1.79 Bn |
| Dec 31, 2023 | 941.57 Mn |
| Sep 30, 2023 | 1.37 Bn |
| Jun 30, 2023 | 1.48 Bn |
| Mar 31, 2023 | 1.19 Bn |
| Dec 31, 2022 | 1.07 Bn |
| Sep 30, 2022 | 961.36 Mn |
| Jun 30, 2022 | 744.11 Mn |
| Mar 31, 2022 | 2.20 Bn |
| Dec 31, 2021 | 2.50 Bn |
| Sep 30, 2021 | 2.65 Bn |