F

Blackstone Inc. — Earnings Quality Grade F

BX · Financial Services

Major red flags

Revenue
$12.4B
2025
Net Income
$3.0B
2025
Gross Margin
Free Cash Flow
$4.5B
01

Screening Summary

8
Passed
1
Watch
1
Failed
M-Score

管理层信号

最近 SEC 8-K 文件中未发现 CEO、CFO、董事会或审计负责人变动信号。
02

Financial Trends

Revenue & Net Income ($B)

Margins (%)

03

18-Point Screening

01

Revenue Quality

A1DSO Change

Insufficient data

A2AR vs Revenue Growth

Insufficient data

A3Revenue vs CFFO

Revenue 13.5%, CFFO 33.9%. Cash follows revenue

02

Expense Quality

B1Inventory vs COGS

No material inventory

!
B2CapEx vs Revenue

CapEx growth 88.4% is >2x revenue growth 13.5%

B3SG&A Ratio

Insufficient data

B4Gross Margin

Insufficient data

03

Cash Flow Quality

C1CFFO vs Net Income

CFFO/NI = 1.54. Profits backed by cash

C2Free Cash Flow

FCF $4.5B, FCF/NI = 1.51

C3Accruals Ratio

Accruals ratio = -3.4%. Low accruals

C4Cash vs Debt

Cash $2.6B covers only 20% of debt $13.3B

04

Balance Sheet Health

D1Goodwill + Intangibles

Goodwill+Intangibles $2.0B = 23% of equity. Manageable

D2Leverage

Insufficient data

D3Soft Asset Growth

Insufficient data

D4Asset Impairment

No write-off data

05

Acquisition Risk

E1Serial Acquirer FCF

FCF after acquisitions positive

E2Goodwill Surge

Goodwill+Intangibles change -2% YoY. Normal

06

Manipulation Score

F1Beneish M-Score

Insufficient data

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Altman Z-Score — Not Applicable

Blackstone Inc. is a financial company. Z-Score is designed for non-financial companies.

Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25