Discounted Cash Flow
Blackstone Inc.
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Audit / VIE / HFCA: Financial-sector DCF: free cash flow for lenders/insurers includes loan principal and deposits, so FCF ≈ 5-10× net income and is not a valuation proxy; the model shows moderate/unstable predictability and the DCF can be 5-40× market cap (lender pattern).
Sourced live via DEF 14A beneficial_ownership (edgartools proxy) for US filers and 20-F risk_factors (“controls X% of voting power” + VIE/HFCA) for foreign ADRs — cached 12h. A concentrated holder can overrule the DCF’s minority-basis assumptions on dividends, issuance, and delisting.
Average annual growth rates
| Metric | 10-Year | 5-Year | 3-Year |
|---|---|---|---|
| Sales | — | — | — |
| Free Cash Flow | — | — | — |
| Average (FCF & NI) | — | — | — |
| Net Income | — | — | — |
| Dividends | — | — | — |
Endpoint CAGR (better for long term trend)
| Metric | 10-Year | 5-Year | 3-Year |
|---|---|---|---|
| Sales | — | — | — |
| Free Cash Flow | — | — | — |
| Average (FCF & NI) | — | — | — |
| Net Income | — | — | — |
Projected growth rate
—
Historical inputs (10 fiscal years)
| YEAR | Sales | Net Income | Free Cash Flow | Net Margin | EPS (diluted) |
|---|---|---|---|---|---|
| 2016 | $6.0b | $1.2b | $-654.1m | 20.3% | $1.60 |
| 2017 | $8.3b (38.9%) | $1.7b (41.5%) | $-2.9b (-339.2%) | 20.7% (1.9%) | $2.21 (38.1%) |
| 2018 | $7.9b (-4.0%) | $1.8b (4.8%) | $31.8m (101.1%) | 22.6% (9.2%) | $2.27 (2.7%) |
| 2019 | $8.5b (7.4%) | $2.4b (32.9%) | $2.2b (6853.5%) | 27.9% (23.8%) | $3.03 (33.5%) |
| 2020 | $7.1b (-16.8%) | $1.2b (-49.0%) | $2.1b (-4.1%) | 17.1% (-38.7%) | $1.50 (-50.5%) |
| 2021 | $26.2b (270.0%) | $6.8b (460.3%) | $4.6b (115.0%) | 25.9% (51.4%) | $8.14 (442.7%) |
| 2022 | $9.9b (-62.3%) | $2.0b (-70.2%) | $7.1b (55.6%) | 20.5% (-20.9%) | $2.36 (-71.0%) |
| 2023 | $9.3b (-5.8%) | $1.6b (-20.4%) | $4.5b (-37.2%) | 17.3% (-15.5%) | $1.84 (-22.0%) |
| 2024 | $15.4b (64.9%) | $3.2b (99.6%) | $4.0b (-10.8%) | 21.0% (21.1%) | $3.62 (96.7%) |
| 2025 | $16.8b (9.2%) | $3.5b (8.7%) | $5.3b (33.0%) | 20.9% (-0.4%) | $3.87 (6.9%) |
Base FCF: — (latest fiscal year)
Discount rate: % —
Terminal growth: —
Projection period: — years
Alt A decline yrs:
Alt B total yrs:
SEC filings report in EUR. Values above are converted to USD for comparison with the US-listed share price.
Values abbreviated: b = billions, m = millions, k = thousands.
Projected cash flows
| Year | Projected cash flow | Discount Factor | Present Value |
|---|
PV of projected FCF: —
Terminal FCF: —
Terminal value: —
PV of terminal value: —
Enterprise value (DCF): —
Net debt deduction: —
Current price: —
—Alternative DCF Models
| Model | Fair Value | Upside | PV(FCFs) | PV(Terminal) | Total Years |
|---|---|---|---|---|---|
| Standard (10yr→TV) | — | — | — | — | 10 + TV |
| Alt A (Gradual Decline) | — | — | — | — | — |
| Alt B (30yr Hard Stop) | — | — | — | N/A | — |
This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.