BlackstoneTSX:BX -0.06%55 Return-on-Tangible-Equity is 39.87% as of Mar. 2026, which is 15% above its 10-year median of 34.65. GuruFocus rates TSX:BX with a GF Score™ of 55/100 and a GF Value™ of C$25.62 (Significantly Undervalued). The stock has 5 warning signs investors should review. Among 1,589 Asset Management companies, Blackstone ranks better than 93.33% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Blackstone's annualized net income for the quarter that ended in Mar. 2026 was C$3,566 Mil. Blackstone's average shareholder tangible equity for the quarter that ended in Mar. 2026 was C$8,944 Mil. Therefore, Blackstone's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 39.87%.
The historical rank and industry rank for Blackstone's Return-on-Tangible-Equity or its related term are showing as below:
TSX:BX'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 22.86 Med: 34.65 Max: 100.55
Current: 48.31
During the past 13 years, Blackstone's highest Return-on-Tangible-Equity was 100.55%. The lowest was 22.86%. And the median was 34.65%.
TSX:BX's Return-on-Tangible-Equity is ranked better than 93.33% of 1589
companies
in the Asset Management industry
Industry Median: 7.21
vs TSX:BX: 48.31
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Blackstone Return-on-Tangible-Equity Related Terms
Blackstone Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Blackstone's Return-on-Tangible-Equity can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
TSX:BX vs BLK, KKR, APO: Return-on-Tangible-Equity Comparison
For the Asset Management subindustry, Blackstone's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Blackstone Return-on-Tangible-Equity vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Blackstone's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Blackstone's Return-on-Tangible-Equity falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 39.87% mean?
Blackstone (TSX:BX) has a Return-on-Tangible-Equity of 39.87% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Blackstone and its competitors. This is 15% above median its historical median of 34.65. Over the past decade, Blackstone's Return-on-Tangible-Equity has ranged from 22.86 to 100.55. According to the industry distribution chart, Blackstone ranks #106 out of 1589 companies in the Asset Management industry, placing it in the top 6.7%.
Is Blackstone's Return-on-Tangible-Equity too high?
Blackstone's current Return-on-Tangible-Equity of 39.87% is 15% above median its 10-year median of 34.65. Over the past 10 years, this metric has ranged from a low of 22.86 to a high of 100.55. The Asset Management industry median Return-on-Tangible-Equity is 7.21. Blackstone's value of 39.87% is 453% above this industry median. Based on the distribution chart, Blackstone ranks #106 out of 1589 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, Blackstone has a GF Score™ of 55/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Blackstone's Return-on-Tangible-Equity compare to BLK and KKR?
According to the Asset Management industry distribution chart, Blackstone ranks #106 out of 1589 companies for Return-on-Tangible-Equity. This places Blackstone in the top 7% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 7.21. Blackstone's value of 39.87% is 453% above this benchmark. Historically, Blackstone's own Return-on-Tangible-Equity has ranged from 22.86 to 100.55 over the past decade. While the company's 10-year median is 34.65 vs. the industry median of 7.21, Blackstone has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Equity for an Asset Management company?
The median Return-on-Tangible-Equity among Asset Management companies is 7.21, based on 1,589 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Blackstone's current Return-on-Tangible-Equity of 39.87% is 453% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Blackstone and its competitors. For the Asset Management industry, the median Return-on-Tangible-Equity is 7.21 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Blackstone's current Return-on-Tangible-Equity is 39.87%, which is 15% above median its own 10-year median of 34.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Blackstone stock overvalued right now?
Based on GuruFocus' analysis, Blackstone (TSX:BX) is currently considered Significantly Undervalued. The stock's GF Value™ is C$25.62, compared to a current price of C$15.49 — trading 39.5% below its estimated fair value. The current Return-on-Tangible-Equity is 39.87%, which is 15% above median its 10-year median of 34.65 and 453% above the Asset Management industry median of 7.21. Blackstone's overall GF Score™ is 55/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Blackstone (TSX:BX), the current Return-on-Tangible-Equity is 39.87% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Blackstone (TSX:BX) Overvalued in 2026?
Based on GuruFocus' analysis, Blackstone stock appears to be undervalued.
The current stock price of C$15.49 is trading 39.5% below its estimated GF Value™ of C$25.62.
GuruFocus considers Blackstone to be Significantly Undervalued.
Key valuation signals for TSX:BX:
Return-on-Tangible-Equity: 39.87% (15% above median its 10-year median of 34.65)
GF Value™: C$25.62 vs. price of C$15.49 (39.5% below fair value)
Industry Position: 453% above the Asset Management median (#106 of 1589)
No single metric tells the full story. See the TSX:BX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Blackstone is the world's largest alternative-asset manager with $1.304 trillion in total assets under management, including $937.6 billion in fee-earning assets under management, at the end of March 2026. The company operates with scale in each of its major product lines: private equity (27% of fee-earning AUM and 34% of base management fees), real estate/real assets (30% and 33%), credit and insurance (33% and 26%), and other alternatives (10% and 7%). While the firm primarily serves institutional investors (84% of AUM), it also caters to clients in the high-net-worth channel (16%). Blackstone operates through 25 offices in the Americas (8), Europe and the Middle East (9), and the Asia-Pacific region (8).
55GF Score
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