Blackstone Mortgage Trust, Inc.
Real EstateNYSE:BXMT · New York Stock Exchange
+$0.17 today
Vol 0.57M · Avg 1.51M
Income Statement
Follow revenue through to earnings
Review sales, margins, expenses, and profit trends to see what is actually driving reported earnings over time.
Earnings Waterfall
Revenue to Net Income
Key Ratios
Analysis
$1.5B of revenue converted into $103.6M of net income for the selected period. Gross margin is 62.4% and net margin is 6.8%, showing how much revenue survives after costs and taxes. EPS is $0.60, tying the income statement back to per-share earnings.
Income Statement
Annual data · 5 periods
| Metric | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.5B -14.0% | $1.8B -12.2% | $2.0B +52.6% | $1.3B +55.6% | $847.7M | $809.6M | $921.6M | $731.2M |
| Cost of Revenue | $352.0M +195.6% | $119.1M -0.0% | $119.1M +8.0% | $110.3M +24.7% | $88.5M | $725.6M | $804.0M | $882.4M |
| Gross Profit | $1.2B -29.1% | $1.6B -12.9% | $1.9B +56.7% | $1.2B +59.2% | $759.3M | $8.9B | $7.6B | $6.2B |
| Gross Margin | 76.9% -16.4pp | 93.3% -0.8pp | 94.1% +2.4pp | 91.6% +2.1pp | 89.6% | 9.8% | 28.9% | 38.3% |
| Research & Development | $0 | $0 | $0 | $0 | $0 | $983.2M | $1.3B | $490.4M |
| Selling, General & Admin | $0 | $0 | $0 | $0 | $0 | $620.6M | $923.0M | -$1.5B |
| Operating Expenses | $79.3M -85.8% | $559.7M +103.2% | $275.5M +13.0% | $243.8M +7374.7% | $3.3M | $5.3B | $7.0B | $8.7B |
| Depreciation & Amortization | $68.8M +631.8% | $9.4M | $0 | $0 | $0 | $374.2M | $1.2B | $631.8M |
| EBITDA | $1.2B +6.0% | $1.1B -32.2% | $1.6B +68.2% | $965.0M +26.5% | $762.9M | -$15.2B | $6.8B | $9.3B |
| EBITDA Margin | 76.7% +14.4pp | 62.3% -18.3pp | 80.6% +7.5pp | 73.2% -16.8pp | 90.0% | 5.6% | 46.3% | 42.0% |
| Operating Income | $1.1B +0.1% | $1.1B -32.7% | $1.6B +67.7% | $965.1M +27.7% | $756.0M | $12.3B | $14.0B | -$15.7B |
| Operating Margin | 71.6% +10.0pp | 61.6% -18.8pp | 80.4% +7.2pp | 73.2% -16.0pp | 89.2% | 16.6% | 24.1% | 22.0% |
| Interest Income | $1.4B -23.3% | $1.8B -13.2% | $2.0B +52.2% | $1.3B +56.7% | $854.7M | -$1.5B | -$1.6B | $405.0M |
| Interest Expense | $988.9M -23.3% | $1.3B -5.6% | $1.4B +92.3% | $710.9M +109.0% | $340.2M | $1.1B | $1.0B | $1.2B |
| Other Income / Expenses | -$976.4M +24.2% | -$1.3B +5.5% | -$1.4B -91.7% | -$711.0M -113.3% | -$333.3M | -$1.5B | $1.4B | $1.2B |
| Income Before Tax | $113.3M +156.8% | -$199.5M -178.1% | $255.3M +0.5% | $254.1M -39.9% | $422.7M | $3.3B | $4.9B | $3.6B |
| Pre-Tax Margin | 7.5% +18.7pp | -11.3% -24.0pp | 12.7% -6.6pp | 19.3% -30.6pp | 49.9% | 20.8% | 18.7% | 26.2% |
| Income Tax Expense | $3.7M +54.5% | $2.4M -55.7% | $5.4M +78.6% | $3.0M +609.9% | $423.0K | $1.3B | -$1.6B | $745.2M |
| Net Income | $109.6M +153.7% | -$204.1M -182.8% | $246.6M -0.8% | $248.6M -40.7% | $419.2M | $4.9B | $4.8B | $4.7B |
| Net Margin | 7.2% +18.7pp | -11.5% -23.8pp | 12.2% -6.6pp | 18.8% -30.6pp | 49.4% | 12.4% | 17.5% | 22.5% |
| EPS (Basic) | $1 +154.7% | -$1 -181.8% | $1 -2.1% | $1 -47.3% | $3 | $400.8M | $703.2M | $1.3B |
| EPS (Diluted) | $1 +154.7% | -$1 -181.8% | $1 -2.1% | $1 -47.3% | $3 | $766.2M | $609.4M | $452.6M |
| Weighted Avg Shares | $171.0M -1.6% | $173.8M +0.6% | $172.7M +1.2% | $170.6M +12.6% | $151.5M | $757.8M | $925.8M | $1.1B |
| Weighted Avg Shares (Diluted) | $171.0M -1.6% | $173.8M +0.6% | $172.7M +1.2% | $170.6M +12.6% | $151.5M | $1.2B | $924.4M | $678.0M |
Older periods hidden.
Sign in to unlockCompetitors
Peer companies in the same sector
Vornado Realty Trust
NYSE:VNO
$7.20B
Outfront Media Inc.
NYSE:OUT
$5.52B
COPT Defense Properties
NYSE:CDP
$3.92B
Highwoods Properties, Inc.
NYSE:HIW
$3.29B
Redwood Trust, Inc. 9.125% Seni
NYSE:RWTN
$3.06B
Newmark Group, Inc.
NASDAQ:NMRK
$2.37B
Arbor Realty Trust, Inc.
NYSE:ABR
$1.00B
MFA Financial, Inc.
NYSE:MFA
$961.72M
Redwood Trust, Inc.
NYSE:RWT
$657.38M
SEC Filings
Recent regulatory filings
No filings found.
How much revenue does BXMT generate?
Blackstone Mortgage Trust, Inc. (BXMT) reported $1.52B of revenue in fiscal 2025.
Is BXMT profitable?
Blackstone Mortgage Trust, Inc. (BXMT) reported $109.57M of net income, with a net margin of 7.2%.
Explore More
Continue the stock analysis
Jump to another research area for this company.