Using the industry peer median P/E multiple (trailing + forward), Blackstone Inc. (BX) has a fair value of $66.92 based on 5 comparable companies in the Asset Management industry.
USD in millions except Fair Price. Subject company highlighted.
| Mkt Cap ($M) | Trailing P/E | Forward P/E | |
|---|---|---|---|
| Blackstone Inc.BX | 86,370 | 28.5x | 20.6x |
| KKR & Co. Inc.KKR | 80,877 | 38.8x | 18.4x |
| Apollo Global Management, Inc.APO | 64,346 | 15.3x | 14.0x |
| Ares Management CorporationARES | 35,551 | 55.2x | 21.6x |
| State Street CorporationSTT | 35,163 | 13.4x | 12.4x |
| T. Rowe Price Group, Inc.TROW | 19,760 | 9.8x | 9.3x |
| Industry Median | 15.3x | 14.0x | |
| (*) Profit after tax | 3,019 | 4,185 | |
| Equity Value | 46,103 | 58,415 | |
| (/) Outstanding shares | 781 | 781 | |
| Fair Price | $59 | $75 | |
This P/E relative valuation uses the industry peer median Price-to-Earnings ratio to estimate fair value. Both trailing (last 12 months) and forward (next fiscal year analyst estimates) P/E multiples are computed independently.
The industry median trailing P/E is applied to the company's TTM net income, and the forward P/E to analyst-estimated net income. Each produces an equity value divided by shares outstanding to yield a fair price per share. The selected fair value is the average of the trailing and forward legs.