NYSE$BXMT

Blackstone Mortgage Trust Inc · Q4 2025 earnings

Q4 2025 earnings · · Before market open · Investor relations

Briefing

Blackstone Mortgage Trust reported FY 2025 net income of $110M with GAAP EPS of $0.64 and distributable EPS prior to charge-offs of $1.86.

Full-year net income attributable to BXMT was $110 million with GAAP EPS of $0.64 and distributable EPS prior to charge-offs of $1.86; dividends paid were $1.88 per share. Management highlighted robust Q4 capital deployment, improved credit performance, and balance sheet optimization.

  • FY25 net income $110M; GAAP EPS $0.64.
  • Distributable EPS prior to charge-offs $1.86.
  • Q4 momentum in deployment and credit trends.
  • Blackstone platform supports origination scale.

Headline financials

Total Revenue

$159M

Previous: $114M+39.2%
EPS (adj)

$0.64

Previous: -$1.25+151.2%
Total Assets

$20B

No prior period
Total Liabilities

$16.5B

No prior period
Total Equity

$3.5B

No prior period
Loans Receivable, Net

$17.8B

No prior period
Secured Debt, Net

$10.1B

No prior period
Securitized Debt, Net

$2.14B

No prior period
Asset-Specific Debt, Net

$998M

No prior period
Loan Participations Sold, Net

$100M

No prior period
Term Loans, Net

$1.81B

No prior period
Senior Secured Notes, Net

$785M

No prior period
Convertible Notes, Net

$265M

No prior period
Other Liabilities

$386M

No prior period
Cash and Cash Equivalents

$453M

No prior period
Owned Real Estate, Net

$1.13B

No prior period
Investments in Unconsolidated Entities

$217M

No prior period
Other Assets

$413M

No prior period
Management & Incentive Fees

$16.4M

No prior period
General & Administrative Expenses

$13.2M

No prior period
Expenses from Owned Real Estate

$78.4M

No prior period
Increase in CECL Reserve

-$18.4M

No prior period
Income Tax Provision

$535K

No prior period
Net Income Attributable to NCI

$68K

No prior period
Weighted Avg Shares Outstanding

168.2M

No prior period
Dividend per Share

$0.47

No prior period
Number of Loans

131

No prior period
Principal Balance

$18.1B

No prior period
WA Cash Coupon

3.2%

No prior period
WA All-in Yield

3.4%

No prior period
WA Max Maturity (Years)

2.5

No prior period
Origination LTV

65.0%

No prior period
Debt-to-Equity Ratio

3.9

No prior period
Book Value per Share

$20.75

No prior period
Net Income

$110M

Previous: $37.2M+195.8%
Operating Income

$40.2M

Previous: $0.00

Revenue & EPS history

Blackstone Mortgage Trust · Revenue · Quarterly

$159M

Q4 2025+39.2%vs Q4 2024
Beat estimate in 13 of 15 quarters(87%)
ActualEstimate

Forward guidance

The release discusses Blackstone Mortgage Trust's outlook for upcoming periods, including capital allocation, operating priorities, and market risks, without relying solely on numeric EPS bridges.

Tailwinds

  • Blackstone Mortgage Trust cites operational execution and demand trends supporting the outlook.
  • Balance sheet and liquidity actions aim to fund growth and returns.

Headwinds

  • Macro, pricing, and input-cost volatility could pressure margins.
  • Segment mix and one-time items may affect quarter-to-quarter comparability.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2025

Historical avgQ4 2025

-0.3%

Avg return

Earnings day

+1.0%

Avg return

5 days after

+1.4%

Avg return

30 days after

52%

34 / 65 earnings

Positive

+15.3%

Q1 2020

Best reaction

-13.6%

Q2 2010

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-4.6%-5.4%-8.7%
Q4 2025+2.0%-0.4%-5.4%
Q3 2025+3.4%+2.3%+7.3%
Q1 2025+0.5%-0.3%-0.4%
Q4 2024+1.6%+7.4%+8.9%
Q3 2024+1.7%-0.3%+0.3%
Q2 2024-11.3%-8.2%-8.2%
Q1 2024-7.7%-6.4%-9.4%
Q4 2023+11.6%+9.5%+11.1%
Q3 2023-1.2%-1.4%+10.0%
Q2 2023+0.4%+2.5%-5.8%
Q1 2023+10.1%+5.8%+8.5%
Q4 2022-7.8%-5.2%-21.6%
Q3 2022+3.4%+4.0%+5.0%
Q2 2022+6.1%+5.6%+1.5%
Q1 2022+0.1%-3.5%+0.9%
Q4 2021+1.8%+1.8%+2.6%
Q3 2021+1.2%+2.8%-4.9%
Q2 2021+2.5%+2.2%+3.7%
Q1 2021-1.2%-2.3%-2.6%
Q4 2020-0.3%+0.9%+11.5%
Q3 2020+3.2%+7.9%+27.6%
Q2 2020+2.8%+0.7%+2.4%
Q1 2020+15.3%+14.0%+22.2%
Q4 2019+2.5%+2.8%-26.2%
Q3 2019-0.6%-1.0%-1.3%
Q2 2019-2.0%-1.0%-1.7%
Q1 2019+2.7%+3.2%+3.6%
Q4 2018-1.1%-3.0%+0.2%
Q3 2018+2.2%+0.5%+6.0%
Q2 2018+0.9%+0.6%+4.2%
Q1 2018-0.5%+0.6%+3.0%
Q4 2017+2.9%+4.4%+5.4%
Q3 2017+1.1%+0.8%+3.6%
Q2 2017-1.5%-2.0%+0.1%
Q1 2017+1.8%+0.8%+2.3%
Q4 2016-2.2%-2.6%-2.4%
Q3 2016+1.0%+0.3%-0.4%
Q2 2016+1.1%+1.3%+1.4%
Q1 2016+2.0%
Q4 2015+4.8%
Q3 2015+0.8%
Q2 2015+0.8%
Q1 2015-0.4%
Q4 2014-1.9%
Q3 2014-0.4%
Q2 2014+0.4%
Q1 2014-0.2%
Q4 2013+0.1%
Q3 2013-1.0%
Q2 2013-1.4%
Q1 2013-1.8%
Q1 2010-1.8%
Q4 2012-1.8%
Q3 2012+0.0%
Q2 2012+5.5%
Q1 2011-5.2%
Q1 2012+4.8%
Q4 2011-5.1%
Q4 2009-5.1%
Q3 2011-5.2%
Q3 2010-5.2%
Q2 2011-13.6%
Q4 2010-13.6%
Q2 2010-13.6%

Discussion

Share your read of this quarter. Sign-in carries your eToro identity.

Join the conversation

Sign in with eToro to post your read of this quarter and vote on others'.

Sign in with eToro