Question 1

What is Blackstone's P/B ratio?

Accepted Answer

Blackstone (BX) P/B ratio is 10.8× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for Blackstone?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Blackstone specifically, the relevant sector benchmark is the current sector median of 1.7×.

Question 5

Is Blackstone's P/B ratio high or low?

Accepted Answer

Blackstone's P/B ratio of 10.8× is below its own 5-year average of 17.9× and above the sector median of 1.7×. That places the current reading at the 44th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Blackstone's historical P/B ratio range?

Accepted Answer

In the available daily series, Blackstone (BX) P/B ratio has ranged from a low of 0.8× in 2008 to a high of 21.9× in 2024. The 5-year average is 17.9× and the 5-year median is 17.0×.

Question 7

What was Blackstone's P/B ratio in 2025?

Accepted Answer

Blackstone (BX) P/B ratio at the end of 2025 was 21.3×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does Blackstone's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$184.58B	$8.67B	21.3×	-3.4×	Dec 31, 2025
2024	$203.23B	$8.21B	24.7×	+2.9×	Dec 31, 2024
2023	$149.12B	$6.82B	21.9×	+10.8×	Dec 31, 2023
2022	$84.50B	$7.66B	11.0×	-4.3×	Dec 31, 2022
2021	$144.13B	$9.42B	15.3×	+4.8×	Dec 31, 2021
2020	$69.58B	$6.65B	10.5×	+2.2×	Dec 31, 2020
2019	$58.01B	$7.01B	8.3×	+3.4×	Dec 31, 2019
2018	$30.83B	$6.38B	4.8×	-0.1×	Dec 31, 2018
2017	$32.84B	$6.63B	4.9×	+0.7×	Dec 31, 2017
2016	$27.15B	$6.46B	4.2×	-0.4×	Dec 31, 2016
2015	$28.75B	$6.27B	4.6×	+0.2×	Dec 31, 2015
2014	$31.31B	$7.06B	4.4×	-0.0×	Dec 31, 2014
2013	$28.06B	$6.31B	4.4×	+2.1×	Dec 31, 2013
2012	$12.99B	$5.47B	2.4×	+0.2×	Dec 31, 2012
2011	$10.34B	$4.67B	2.2×	+0.3×	Dec 31, 2011
2010	$8.30B	$4.36B	1.9×	+0.0×	Dec 31, 2010
2009	$6.28B	$3.38B	1.9×	+1.1×	Dec 31, 2009
2008	$2.69B	$3.51B	0.8×	-1.3×	Dec 31, 2008
2007	$8.65B	$4.23B	2.0×	-1.5×	Dec 31, 2007
2006	$9.70B	$2.72B	3.6×	-1.8×	Dec 31, 2006
2005	$9.70B	$1.82B	5.3×	—	Dec 31, 2005


UMB Financial (UMBF)	1.1×
RenaissanceRe Holdings (RNR)	1.1×
KeyCorp (KEY)	1.1×
Southside Bancshares (SBSI)	1.1×
Prudential Financial (PRU)	1.1×
United Bankshares (UBSI)	1.1×
Alerus Financial (ALRS)	1.0×
Capital One Financial (COF)	1.0×
Franklin Resources (BEN)	1.0×
Atlantic Union Bankshares (AUB)	1.0×
American International Group (AIG)	1.0×
Eagle Financial Services (EFSI)	1.0×
Everest Re Group (RE)	1.0×
Citizens Financial Group (CFG)	1.0×
Citigroup (C)	0.9×
Ares Capital (ARCC)	0.9×
Huntington Bancshares (HBAN)	0.9×
Auburn National Bancorporation (AUBN)	0.9×
Invesco (IVZ)	0.9×
Truist Financial (TFC)	0.9×
Everest Re Group (EG)	0.9×
PSB Holdings (PSBQ)	0.8×
Ally Financial (ALLY)	0.8×
Global Payments (GPN)	0.7×
Assured Guaranty (AGO)	0.7×

P/B Ratio for Blackstone (BX)

P/B Ratio daily chart for Blackstone (BX)

Historical P/B Ratio for Blackstone (BX) from 2005 to 2025

About P/B Ratio at Blackstone (BX)

Blackstone P/B Ratio by Year

Blackstone P/B Ratio 2025: 21.3×

Blackstone P/B Ratio 2024: 24.7×

Blackstone P/B Ratio 2023: 21.9×

Blackstone P/B Ratio 2022: 11.0×

Blackstone P/B Ratio 2021: 15.3×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Blackstone (BX) Key Financials

P/B Ratio daily chart for Blackstone (BX)

Historical P/B Ratio for Blackstone (BX) from 2005 to 2025

About P/B Ratio at Blackstone (BX)

Blackstone P/B Ratio by Year

Blackstone P/B Ratio 2025: 21.3×

Blackstone P/B Ratio 2024: 24.7×

Blackstone P/B Ratio 2023: 21.9×

Blackstone P/B Ratio 2022: 11.0×

Blackstone P/B Ratio 2021: 15.3×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

+What is Blackstone's P/B ratio?

+How is the P/B ratio calculated?

+What is the P/B ratio?

+What is a good P/B ratio for Blackstone?

+Is Blackstone's P/B ratio high or low?

+What is Blackstone's historical P/B ratio range?

+What was Blackstone's P/B ratio in 2025?

+Why does Blackstone's P/B ratio change over time?

Blackstone (BX) Key Financials