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BLACKSTONE MORTGAGE TRUST, INC. BXMT

NYSE · reit · Real Estate Investment Trusts · website · IPO 1980-12-29 · LEI

BLACKSTONE MORTGAGE TRUST, INC. statistics & valuation

Market cap$2.9B
P / E26.8×
P / B0.8×
Dividend yield10.98%
Return on equity3.1%
Graham number +37.4%$17.18

Market cap as of 2026-06-30. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($17.18); a green figure means the price is below it.

Profitability & efficiency

Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
2016201720182019202020212022202320242025
Return on equity (%)
9.60% 7.50% 8.40% 8.10% 3.50% 9.10% 5.50% 5.60% -5.40% 3.10% 2016201720182019202020212022202320242025
Shares outstanding
94.5M 107.9M 123.4M 135.0M 146.8M 168.2M 171.7M 173.2M 173.8M 171.0M 2016201720182019202020212022202320242025
Net debt ($)
$9.51B $11.30B $9.69B $14.52B $17.29B $16.15B 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
2.70% 2.10% 2.00% 1.80% 0.80% 1.80% 1.00% 1.00% -1.00% 0.50% 2016201720182019202020212022202320242025
Free cash flow margin (%)
2016201720182019202020212022202320242025
Debt / equity (×)
2.85× 3.03× 2.56× 3.26× 3.87× 3.76× 2016201720182019202020212022202320242025
EPS ($)
$2.35 $0.97 $2.77 $1.46 $1.43 -$1.17 $0.64 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

BLACKSTONE MORTGAGE TRUST, INC. trades at about 19.5× earnings — above its 10-year norm (10-year range 0.2×–34.6×, median 16.3×).

0.2× 34.6×

Shaded band = 10-year range (0.2×–34.6×); dot = today's 19.5×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Return on assets0.5%-1.0%1.0%1.0%1.8%0.8%1.8%2.0%2.1%2.7%
Return on equity3.1%-5.4%5.6%5.5%9.1%3.5%8.1%8.4%7.5%9.6%
Debt / equity——3.76×3.87×3.26×2.56×3.03×2.85×——

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.