Blackstone (BX) Operating Expenses (2009 - 2026)
Blackstone (BX) posted quarterly Operating Expenses of $2.3 billion for Q1 2026, up 19.42% year-over-year from $1.9 billion in Q1 2025, and up 6.47% quarter-over-quarter from $2.1 billion in Q4 2025.
Blackstone (BX) Operating Expenses (2009 - 2026) Analysis & Trends
Blackstone's Operating Expenses history runs 18 years deep, the most recent figure standing at $2.3 billion for Q1 2026.
- In Q1 2026, Operating Expenses rose 19.42% year-over-year to $2.3 billion; the TTM figure through Mar 2026 stood at $8.1 billion (up 16.57% YoY), while the FY2025 annual figure was $7.7 billion, up 12.95% from the prior year.
- Operating Expenses for Q1 2026 stood at $2.3 billion, up from $2.1 billion in the prior quarter.
- The five-year high for Operating Expenses was $2.3 billion in Q1 2026, with the low at $744.1 million in Q2 2022.
- The 5-year median for Operating Expenses is $1.6 billion (2024), against an average of $1.6 billion.
- The sharpest annual moves came in 2022 and 2023: Operating Expenses slumped 67.25% in 2022, then surged 98.26% in 2023.
- Blackstone's Operating Expenses stood at $1.1 billion in 2022, then decreased by 12.05% to $941.6 million in 2023, then jumped by 59.32% to $1.5 billion in 2024, then jumped by 41.65% to $2.1 billion in 2025, then increased by 6.47% to $2.3 billion in 2026.
- Business Quant data shows BX's Operating Expenses at $2.3 billion in Q1 2026, $2.1 billion in Q4 2025, and $1.8 billion in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 176.99 Bn | 163.12 Bn | - | 4.62 Bn |
| 2 | Blackstone | 113.16 Bn | 110.65 Bn | - | 2.38 Bn |
| 3 | Kkr | 96.05 Bn | -181.02 Bn | - | 5.41 Bn |
| 4 | Brookfield | 92.54 Bn | 45.14 Bn | - | 14.94 Bn |
| 5 | Brookfield Asset Management | 82.31 Bn | 80.81 Bn | - | 659.00 Mn |
| 6 | Apollo Global Management | 77.14 Bn | 51.77 Bn | 10.54 Bn | 8.74 Bn |
| 7 | State Street | 50.64 Bn | 50.64 Bn | - | 2.66 Bn |
| 8 | Ameriprise Financial | 50.31 Bn | 39.27 Bn | 4.72 Bn | 3.50 Bn |
| 9 | Northern Trust | 33.61 Bn | 33.61 Bn | - | 1.64 Bn |
| 10 | Raymond James Financial | 33.40 Bn | 20.15 Bn | - | 3.18 Bn |
Historic Data
Download 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 |