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BLACKSTONE MORTGAGE TRU-CL A (BXMT) Stock Fundamental Analysis

NYSE:BXMT - New York Stock Exchange, Inc. - US09257W1009 - REIT - Currency: USD

19.91  -0.21 (-1.04%)

After market: 19.91 0 (0%)

Fundamental Rating

4

Overall BXMT gets a fundamental rating of 4 out of 10. We evaluated BXMT against 66 industry peers in the Mortgage Real Estate Investment Trusts (REITs)" industry. The financial health of BXMT is average, but there are quite some concerns on its profitability. BXMT is valued correctly, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

In the past year BXMT has reported negative net income.
In the past year BXMT had a positive cash flow from operations.
BXMT had positive earnings in 4 of the past 5 years.
Each year in the past 5 years BXMT had a positive operating cash flow.
BXMT Yearly Net Income VS EBIT VS OCF VS FCFBXMT Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M

1.2 Ratios

BXMT has a Return On Assets of -0.40%. This is in the lower half of the industry: BXMT underperforms 75.76% of its industry peers.
BXMT has a worse Return On Equity (-2.19%) than 75.76% of its industry peers.
Industry RankSector Rank
ROA -0.4%
ROE -2.19%
ROIC N/A
ROA(3y)0.33%
ROA(5y)0.73%
ROE(3y)1.92%
ROE(5y)3.69%
ROIC(3y)N/A
ROIC(5y)N/A
BXMT Yearly ROA, ROE, ROICBXMT Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 -5

1.3 Margins

Looking at the Gross Margin, with a value of 24.23%, BXMT is in line with its industry, outperforming 51.52% of the companies in the same industry.
BXMT's Gross Margin has declined in the last couple of years.
The Profit Margin and Operating Margin are not available for BXMT so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 24.23%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-22.26%
GM growth 5Y-13.39%
BXMT Yearly Profit, Operating, Gross MarginsBXMT Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40 60

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6

2. Health

2.1 Basic Checks

BXMT does not have a ROIC to compare to the WACC, probably because it is not profitable.
BXMT has less shares outstanding than it did 1 year ago.
Compared to 5 years ago, BXMT has more shares outstanding
BXMT has a better debt/assets ratio than last year.
BXMT Yearly Shares OutstandingBXMT Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M
BXMT Yearly Total Debt VS Total AssetsBXMT Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B 25B

2.2 Solvency

Based on the Altman-Z score of 0.11, we must say that BXMT is in the distress zone and has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 0.11, BXMT is in the better half of the industry, outperforming 71.21% of the companies in the same industry.
The Debt to FCF ratio of BXMT is 43.37, which is on the high side as it means it would take BXMT, 43.37 years of fcf income to pay off all of its debts.
With a decent Debt to FCF ratio value of 43.37, BXMT is doing good in the industry, outperforming 62.12% of the companies in the same industry.
A Debt/Equity ratio of 4.33 is on the high side and indicates that BXMT has dependencies on debt financing.
Looking at the Debt to Equity ratio, with a value of 4.33, BXMT is in line with its industry, outperforming 53.03% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 4.33
Debt/FCF 43.37
Altman-Z 0.11
ROIC/WACCN/A
WACC7.07%
BXMT Yearly LT Debt VS Equity VS FCFBXMT Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B

2.3 Liquidity

BXMT has a Current Ratio of 4.39. This indicates that BXMT is financially healthy and has no problem in meeting its short term obligations.
BXMT has a better Current ratio (4.39) than 92.42% of its industry peers.
A Quick Ratio of 4.39 indicates that BXMT has no problem at all paying its short term obligations.
BXMT has a Quick ratio of 4.39. This is amongst the best in the industry. BXMT outperforms 92.42% of its industry peers.
Industry RankSector Rank
Current Ratio 4.39
Quick Ratio 4.39
BXMT Yearly Current Assets VS Current LiabilitesBXMT Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M

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3

3. Growth

3.1 Past

BXMT shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -107.72%.
Looking at the last year, BXMT shows a very negative growth in Revenue. The Revenue has decreased by -18.07% in the last year.
The Revenue has been growing by 15.09% on average over the past years. This is quite good.
EPS 1Y (TTM)-107.72%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-48.48%
Revenue 1Y (TTM)-18.07%
Revenue growth 3Y27.75%
Revenue growth 5Y15.09%
Sales Q2Q%-36.92%

3.2 Future

BXMT is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 280.39% yearly.
The Revenue is expected to decrease by -1.93% on average over the next years.
EPS Next Y3067.56%
EPS Next 2Y572.61%
EPS Next 3Y280.39%
EPS Next 5YN/A
Revenue Next Year-13.85%
Revenue Next 2Y-2.46%
Revenue Next 3Y-1.93%
Revenue Next 5YN/A

3.3 Evolution

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
BXMT Yearly Revenue VS EstimatesBXMT Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 500M 1B 1.5B 2B
BXMT Yearly EPS VS EstimatesBXMT Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 1 2 3

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4

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for BXMT. In the last year negative earnings were reported.
Based on the Price/Forward Earnings ratio of 11.51, the valuation of BXMT can be described as reasonable.
The rest of the industry has a similar Price/Forward Earnings ratio as BXMT.
BXMT's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 21.76.
Industry RankSector Rank
PE N/A
Fwd PE 11.51
BXMT Price Earnings VS Forward Price EarningsBXMT Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 -20 -40 -60 -80

4.2 Price Multiples

Based on the Price/Free Cash Flow ratio, BXMT is valued a bit cheaper than the industry average as 68.18% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 9.3
EV/EBITDA N/A
BXMT Per share dataBXMT EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10 15 20

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as BXMT's earnings are expected to grow with 280.39% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y572.61%
EPS Next 3Y280.39%

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4

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 9.34%, BXMT is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 11.54, BXMT is paying slightly less dividend.
BXMT's Dividend Yield is rather good when compared to the S&P500 average which is at 2.35.
Industry RankSector Rank
Dividend Yield 9.34%

5.2 History

The dividend of BXMT decreases each year by -1.26%.
BXMT has been paying a dividend for at least 10 years, so it has a reliable track record.
Dividend Growth(5Y)-1.26%
Div Incr Years0
Div Non Decr Years0
BXMT Yearly Dividends per shareBXMT Yearly Dividends per shareYearly Dividends per share 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.5 1 1.5 2

5.3 Sustainability

BXMT has negative earnings and hence a negative payout ratio. The dividend may be in danger.
DP-468.74%
EPS Next 2Y572.61%
EPS Next 3Y280.39%
BXMT Yearly Income VS Free CF VS DividendBXMT Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M -200M 400M

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BLACKSTONE MORTGAGE TRU-CL A

NYSE:BXMT (7/11/2025, 8:04:01 PM)

After market: 19.91 0 (0%)

19.91

-0.21 (-1.04%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryMortgage Real Estate Investment Trusts (REITs)"
Earnings (Last)04-30 2025-04-30/bmo
Earnings (Next)07-30 2025-07-30/bmo
Inst Owners62.72%
Inst Owner Change0%
Ins Owners1.04%
Ins Owner Change1.56%
Market Cap3.42B
Analysts77.14
Price Target21 (5.47%)
Short Float %6.36%
Short Ratio8.44
Dividend
Industry RankSector Rank
Dividend Yield 9.34%
Yearly Dividend2.34
Dividend Growth(5Y)-1.26%
DP-468.74%
Div Incr Years0
Div Non Decr Years0
Ex-Date06-30 2025-06-30 (0.47)
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)52.68%
Min EPS beat(2)-18.98%
Max EPS beat(2)124.35%
EPS beat(4)3
Avg EPS beat(4)32.63%
Min EPS beat(4)-18.98%
Max EPS beat(4)124.35%
EPS beat(8)6
Avg EPS beat(8)17.66%
EPS beat(12)10
Avg EPS beat(12)14.47%
EPS beat(16)13
Avg EPS beat(16)12.08%
Revenue beat(2)0
Avg Revenue beat(2)-13.89%
Min Revenue beat(2)-17.78%
Max Revenue beat(2)-9.99%
Revenue beat(4)0
Avg Revenue beat(4)-10.34%
Min Revenue beat(4)-17.78%
Max Revenue beat(4)-5.62%
Revenue beat(8)1
Avg Revenue beat(8)-6.02%
Revenue beat(12)5
Avg Revenue beat(12)32.14%
Revenue beat(16)9
Avg Revenue beat(16)44.39%
PT rev (1m)0.41%
PT rev (3m)-1.2%
EPS NQ rev (1m)-9.5%
EPS NQ rev (3m)11.04%
EPS NY rev (1m)0%
EPS NY rev (3m)9.4%
Revenue NQ rev (1m)-3.72%
Revenue NQ rev (3m)-0.17%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-5.5%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 11.51
P/S 2.05
P/FCF 9.3
P/OCF 9.17
P/B 0.93
P/tB 0.93
EV/EBITDA N/A
EPS(TTM)-0.2
EYN/A
EPS(NY)1.73
Fwd EY8.69%
FCF(TTM)2.14
FCFY10.76%
OCF(TTM)2.17
OCFY10.9%
SpS9.7
BVpS21.46
TBVpS21.46
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -0.4%
ROE -2.19%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 24.23%
FCFM 22.07%
ROA(3y)0.33%
ROA(5y)0.73%
ROE(3y)1.92%
ROE(5y)3.69%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-22.26%
GM growth 5Y-13.39%
F-Score4
Asset Turnover0.08
Health
Industry RankSector Rank
Debt/Equity 4.33
Debt/FCF 43.37
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 4.39
Quick Ratio 4.39
Altman-Z 0.11
F-Score4
WACC7.07%
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-107.72%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-48.48%
EPS Next Y3067.56%
EPS Next 2Y572.61%
EPS Next 3Y280.39%
EPS Next 5YN/A
Revenue 1Y (TTM)-18.07%
Revenue growth 3Y27.75%
Revenue growth 5Y15.09%
Sales Q2Q%-36.92%
Revenue Next Year-13.85%
Revenue Next 2Y-2.46%
Revenue Next 3Y-1.93%
Revenue Next 5YN/A
EBIT growth 1Y-158.33%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-11.85%
FCF growth 3Y-1.47%
FCF growth 5Y3.77%
OCF growth 1Y-10.68%
OCF growth 3Y-1.42%
OCF growth 5Y3.81%