Blackstone Mortgage Trust (BXMT) financial statements
Net income was $110M.
Free cash flow was $289M, and the company returned $323M in dividends and $110M in net buybacks.
The diluted share count rose 82% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Blackstone Mortgage Trust's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — | $1.3B | $1.3B | — | — |
| Selling, general and admin | $28M | $30M | $36M | $39M | $46M | $43M | $52M | $51M | $54M | $52M |
| Interest expense | $184M | $235M | $360M | $459M | $347M | $340M | $711M | $1.4B | — | — |
| Pre-tax income | $247M | $218M | $286M | $307M | $141M | $423M | $254M | $255M | -$199M | $113M |
| Income tax | $196,000 | $314,000 | $308,000 | -$506,000 | $323,000 | $423,000 | $3M | $5M | $2M | $4M |
| Net income | $238M | $218M | $285M | $306M | $138M | $419M | $249M | $247M | -$204M | $110M |
| EPS (diluted) | $2.53 | $2.27 | $2.50 | $2.35 | $0.97 | $2.77 | $1.46 | $1.43 | -$1.17 | $0.64 |
| Diluted shares | 94M | 96M | 114M | 130M | 142M | 152M | 171M | 173M | 174M | 171M |
| Net margin | — | — | — | — | — | — | 19.8% | 18.3% | — | — |
Balance sheet
Fiscal years, from Blackstone Mortgage Trust's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $76M | $70M | $106M | $150M | $290M | $551M | $291M | $350M | $323M | $453M |
| Total assets | $8.8B | $10.3B | $14.5B | $16.6B | $17.0B | $22.7B | $25.4B | $24.0B | $19.8B | $20.0B |
| Total liabilities | $6.3B | $7.3B | $11.1B | $12.8B | $13.1B | $18.1B | $20.8B | $19.6B | $16.0B | $16.5B |
| Shareholders' equity | $2.5B | $2.9B | $3.4B | $3.8B | $3.9B | $4.6B | $4.5B | $4.4B | $3.8B | $3.5B |
| Net debt | -$76M | -$70M | -$106M | -$150M | -$290M | -$551M | -$291M | -$350M | -$323M | -$453M |
Cash flow
Fiscal years, from Blackstone Mortgage Trust's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $237M | $227M | $290M | $304M | $337M | $382M | $397M | $459M | $366M | $276M |
| Capital spending | — | — | — | — | — | — | $0 | $0 | -$590,000 | -$13M |
| Free cash flow | — | — | — | — | — | — | $397M | $459M | $367M | $289M |
| Stock-based compensation | $22M | $24M | $28M | $31M | $35M | $32M | $33M | $31M | $32M | $28M |
| Dividends paid | $233M | $235M | $277M | $321M | $349M | $371M | $421M | $427M | $404M | $323M |
| Share buybacks (net) | — | — | — | — | — | — | $0 | $0 | -$29M | -$110M |
| Free cash flow margin | — | — | — | — | — | — | 31.6% | 34.1% | — | — |
| Dividends per share | $2.47 | $2.45 | $2.44 | $2.47 | $2.46 | $2.45 | $2.47 | $2.47 | $2.32 | $1.89 |
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How much free cash flow does Blackstone Mortgage Trust generate?
$289M in fiscal 2025 (operating cash flow minus capital spending).
From Blackstone Mortgage Trust's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.