Earnings per share
The Blackstone Group (BX) reported EPS (earnings per share) of $0.71 in 4Q17. Analysts had expected the company’s EPS to come in at $0.67 in the quarter. Blackstone reported strong numbers in 2017, as was evident in its inflows of $108 billion and its deployments of over $50 billion.
Blackstone is entering into new strategies that could create additional investment opportunities for it going forward. Blackstone exceeded analysts’ EPS estimates in three out of four quarters in 2017.
Blackstone’s limited partners got more than $55 billion in the form of realizations in 2017. Its total AUM (assets under management) stood at $434.1 billion in the year aided by platform expansion, appreciation, and favorable fundraising momentum.
Blackstone generated revenue of $1.9 billion in 4Q17, beating Wall Street analysts’ consensus estimate by $140 million. The company witnessed a substantial rise in its economic net income on a YoY (year-over-year) basis in 2017. Its income stood at $3.4 billion in 2017, representing a 41% rise compared to 2016.
Blackstone generated fee-related earnings of $1.2 billion in 2017, reflecting a rise of 21% on a YoY basis driven by net management and advisory fees of $2.8 billion. The company’s distributable earnings stood at $3.9 billion in 2017.
Blackstone’s enterprise value-to-revenue ratio stands at 8.84x on a trailing-12-month basis. Peers (XLF) Ameriprise Financial (AMP), Ares Management (ARES), and Oaktree Capital Management (OAK) have enterprise value-to-revenue ratios of 3.20x, 7.22x, and 6.74x, respectively, on a trailing-12-month basis.