GET DAILY SIGNALSBlackstone (BX) Delivers Q3 Beat as AUM Reaches Record $1.37 Trillion
Key Takeaways
- Blackstone reported third-quarter 2026 distributable earnings of $1.32 per share, beating the $1.26 analyst consensus.
- Fee-related earnings rose 6% year over year to $1.57 billion, or $1.26 per share, while net realizations fell 34%.
- Total assets under management (AUM) climbed 10% to a record $1.37 trillion, supported by $63.3 billion of quarterly inflows.
- GAAP net income attributable to Blackstone reached $662.4 million, or $0.83 per share, up from $0.80 a year earlier.
- The company declared a quarterly dividend of $1.12 per share, payable on November 9, 2026.
Putting These Results in Context
As the world’s largest alternative asset manager, Blackstone’s quarterly numbers offer a useful window into the health of private markets overall. The third quarter unfolded against choppy public markets, elevated interest rates, and ongoing questions about private credit and redemption pressure in certain funds. I was particularly interested in whether the firm could maintain its fundraising pace and protect recurring fee income even as exit activity stayed muted. These outcomes matter for shareholders but also reflect where institutional and individual capital is allocating across private equity, real estate, credit, and infrastructure. I also checked this using Tickeron’s AI Screener to see how the stock compares to others in the industry.
A Closer Look at the Numbers
For the quarter ended September 30, 2026, Blackstone posted distributable earnings of $1.7 billion, or $1.32 per share. That beat the $1.26 consensus but came in below the $1.52 per share reported a year earlier. Fee-related earnings, the more stable component, increased 6% year over year to $1.57 billion, or $1.26 per share. GAAP net income attributable to Blackstone rose to $662.4 million, or $0.83 per share, from $624.9 million, or $0.80 per share, in the same period last year. GAAP revenue edged down about 1% to $3.06 billion.
Total AUM reached a record $1.37 trillion, up 10% from a year ago. Fee-earning AUM grew 9% to $989.7 billion, and perpetual capital expanded 12% to $562.3 billion. Quarterly inflows of $63.3 billion pushed the trailing twelve-month total to $271.6 billion, the strongest level in four years. The main area of softness was realizations, which declined 34% to $331.5 million.
Market Reaction and Investor Sentiment
Shares of Blackstone climbed roughly 6% after the release, outperforming a broader market that finished lower that day. Investors appeared to focus on the earnings beat and the resilience of fee-related earnings and inflows, even as year-over-year comparisons softened. Management’s comments that realizations should increase meaningfully in the fourth quarter also helped sentiment. At the same time, concerns around private credit redemptions and the higher cost of capital continue to weigh on transaction activity.
Forward Outlook and Key Factors to Monitor
Looking ahead, much will depend on whether the expected rebound in realizations materializes in the fourth quarter and into 2027. Management indicated a significant step-up in net realizations for the final quarter of the year and projected a return to double-digit growth in base management fees in 2027. Exposure to artificial intelligence and energy infrastructure stands out as an emerging growth area, including a partnership with NVIDIA focused on large-scale GPU financing. These themes could support deployment and future fundraising across private equity, infrastructure, and credit. I also checked this using Tickeron’s AI Screener to see how the stock compares to others in the industry.
Private wealth AUM rose 15% to a record $330 billion, while insurance AUM surpassed $300 billion, underscoring the growing importance of these channels. Redemption trends at semi-liquid funds such as BCRED remain worth watching, as does the path of interest rates. Dry powder stood at $228.9 billion, giving the firm ample capacity to deploy capital when conditions improve.
Enhancing My Research with Tickeron Tools
In my research workflow, I frequently use Tickeron’s AI Screener to quickly filter opportunities and compare performance across sectors. The tool lets me apply technical, fundamental, and AI-driven criteria in one place, which helps surface ideas and context that complement traditional analysis. It has become a practical addition when tracking names like Blackstone alongside broader market trends.
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Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
Momentum Indicator for BX turns negative, indicating new downward trend
BX saw its Momentum Indicator move below the 0 level on November 12, 2026. This is an indication that the stock could be shifting in to a new downward move. Traders may want to consider selling the stock or exploring put options. Tickeron's A.I.dvisor looked at 79 similar instances where the indicator turned negative. In 56 of the 79 cases, the stock moved further down in the following days. The odds of a decline are at 71%.
Technical Analysis (Indicators)
Bearish Trend Analysis
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In 37 of 59 cases where BX's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are 63%.
The 50-day moving average for BX moved below the 200-day moving average on October 30, 2026. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where BX declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 69%.
BX broke above its upper Bollinger Band on October 22, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Bullish Trend Analysis
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where BX's RSI Indicator exited the oversold zone, 26 of 31 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 84%.
The Moving Average Convergence Divergence (MACD) for BX just turned positive on October 19, 2026. Looking at past instances where BX's MACD turned positive, the stock continued to rise in 30 of 37 cases over the following month. The odds of a continued upward trend are 81%.
BX moved above its 50-day moving average on November 04, 2026 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for BX crossed bullishly above the 50-day moving average on November 09, 2026. This indicates that the trend has shifted higher and could be considered a buy signal. In 9 of 17 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 53%.
Following a +3.34% 3-day Advance, the price is estimated to grow further. Considering data from situations where BX advanced for three days, in 199 of 293 cases, the price rose further within the following month. The odds of a continued upward trend are 68%.
The Aroon Indicator entered an Uptrend today. In 140 of 230 cases where BX Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 61%.
Fundamental Analysis (Ratings)
The Tickeron SMR rating for this company is 32 (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Price Growth Rating for this company is 57 (best 1 - 100 worst), indicating fairly steady price growth. BX’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is 83 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is 86 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. BX’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 81, placing this stock worse than average.
The Tickeron Valuation Rating of 91 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: BX's P/B Ratio (9.951) is slightly higher than the industry average of (2.423). P/E Ratio (26.734) is within average values for comparable stocks, (8.341). Projected Growth (PEG Ratio) (1.048) is also within normal values, averaging (1.318). Dividend Yield (0.037) settles around the average of (0.274) among similar stocks. P/S Ratio (7.148) is also within normal values, averaging (15.906).
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