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

USA - NYSE:BXMT - US09257W1009 - REIT

18.34 USD
-0.19 (-1.03%)
Last: 10/7/2025, 8:12:36 PM
18.59 USD
+0.25 (+1.36%)
After Hours: 10/7/2025, 8:12:36 PM
Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to BXMT. BXMT was compared to 67 industry peers in the Mortgage Real Estate Investment Trusts (REITs)" industry. While BXMT seems to be doing ok healthwise, there are quite some concerns on its profitability. BXMT has a valuation in line with the averages, but on the other hand it scores bad on growth.


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.
BXMT had a positive operating cash flow in each of the past 5 years.
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

The Return On Assets of BXMT (-0.06%) is worse than 62.69% of its industry peers.
With a Return On Equity value of -0.35%, BXMT is not doing good in the industry: 62.69% of the companies in the same industry are doing better.
Industry RankSector Rank
ROA -0.06%
ROE -0.35%
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 25.80%, BXMT is in line with its industry, outperforming 55.22% 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 25.8%
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.
Compared to 1 year ago, BXMT has less shares outstanding
BXMT has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, BXMT has an improved debt to assets ratio.
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 0.09, we must say that BXMT is in the distress zone and has some risk of bankruptcy.
The Altman-Z score of BXMT (0.09) is better than 70.15% of its industry peers.
BXMT has a debt to FCF ratio of 51.37. This is a negative value and a sign of low solvency as BXMT would need 51.37 years to pay back of all of its debts.
With a decent Debt to FCF ratio value of 51.37, BXMT is doing good in the industry, outperforming 68.66% of the companies in the same industry.
BXMT has a Debt/Equity ratio of 4.57. This is a high value indicating a heavy dependency on external financing.
BXMT's Debt to Equity ratio of 4.57 is in line compared to the rest of the industry. BXMT outperforms 53.73% of its industry peers.
Industry RankSector Rank
Debt/Equity 4.57
Debt/FCF 51.37
Altman-Z 0.09
ROIC/WACCN/A
WACC6.92%
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

A Current Ratio of 3.17 indicates that BXMT has no problem at all paying its short term obligations.
The Current ratio of BXMT (3.17) is better than 94.03% of its industry peers.
BXMT has a Quick Ratio of 3.17. This indicates that BXMT is financially healthy and has no problem in meeting its short term obligations.
Looking at the Quick ratio, with a value of 3.17, BXMT belongs to the top of the industry, outperforming 94.03% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 3.17
Quick Ratio 3.17
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 -121.83%.
The Revenue for BXMT has decreased by -19.19% in the past year. This is quite bad
BXMT shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 15.09% yearly.
EPS 1Y (TTM)-121.83%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-61.22%
Revenue 1Y (TTM)-19.19%
Revenue growth 3Y27.75%
Revenue growth 5Y15.09%
Sales Q2Q%-25.21%

3.2 Future

The Earnings Per Share is expected to grow by 285.60% on average over the next years. This is a very strong growth
BXMT is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 1.03% yearly.
EPS Next Y2551.65%
EPS Next 2Y535.58%
EPS Next 3Y285.6%
EPS Next 5YN/A
Revenue Next Year-18.1%
Revenue Next 2Y-2.48%
Revenue Next 3Y1.03%
Revenue Next 5YN/A

3.3 Evolution

The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
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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5

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for BXMT. In the last year negative earnings were reported.
With a Price/Forward Earnings ratio of 11.94, the valuation of BXMT can be described as very reasonable.
BXMT's Price/Forward Earnings ratio is in line with the industry average.
Compared to an average S&P500 Price/Forward Earnings ratio of 23.21, BXMT is valued a bit cheaper.
Industry RankSector Rank
PE N/A
Fwd PE 11.94
BXMT Price Earnings VS Forward Price EarningsBXMT Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 -20 40

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, BXMT is valued a bit cheaper than 65.67% of the companies in the same industry.
70.15% of the companies in the same industry are more expensive than BXMT, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 9.77
EV/EBITDA 545.84
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

BXMT's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
BXMT's earnings are expected to grow with 285.60% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y535.58%
EPS Next 3Y285.6%

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4

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 10.05%, BXMT is a good candidate for dividend investing.
BXMT's Dividend Yield is comparable with the industry average which is at 11.68.
Compared to an average S&P500 Dividend Yield of 2.44, BXMT pays a better dividend.
Industry RankSector Rank
Dividend Yield 10.05%

5.2 History

The dividend of BXMT decreases each year by -1.26%.
BXMT has paid a dividend for at least 10 years, which is 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

The earnings of BXMT are negative and hence is the payout ratio. BXMT will probably not be able to sustain this dividend level.
DP-2788.36%
EPS Next 2Y535.58%
EPS Next 3Y285.6%
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 (10/7/2025, 8:12:36 PM)

After market: 18.59 +0.25 (+1.36%)

18.34

-0.19 (-1.03%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryMortgage Real Estate Investment Trusts (REITs)"
Earnings (Last)07-30 2025-07-30/bmo
Earnings (Next)10-29 2025-10-29/bmo
Inst Owners60.95%
Inst Owner Change0%
Ins Owners1.05%
Ins Owner Change1.35%
Market Cap3.15B
Analysts77.14
Price Target20.71 (12.92%)
Short Float %4.89%
Short Ratio6.82
Dividend
Industry RankSector Rank
Dividend Yield 10.05%
Yearly Dividend2.34
Dividend Growth(5Y)-1.26%
DP-2788.36%
Div Incr Years0
Div Non Decr Years0
Ex-Date09-30 2025-09-30 (0.47)
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)47.41%
Min EPS beat(2)-29.52%
Max EPS beat(2)124.35%
EPS beat(4)2
Avg EPS beat(4)25.17%
Min EPS beat(4)-29.52%
Max EPS beat(4)124.35%
EPS beat(8)5
Avg EPS beat(8)11.8%
EPS beat(12)9
Avg EPS beat(12)11.66%
EPS beat(16)12
Avg EPS beat(16)10.21%
Revenue beat(2)0
Avg Revenue beat(2)-16.18%
Min Revenue beat(2)-17.78%
Max Revenue beat(2)-14.59%
Revenue beat(4)0
Avg Revenue beat(4)-12.58%
Min Revenue beat(4)-17.78%
Max Revenue beat(4)-7.97%
Revenue beat(8)0
Avg Revenue beat(8)-8.11%
Revenue beat(12)4
Avg Revenue beat(12)22.29%
Revenue beat(16)8
Avg Revenue beat(16)38.99%
PT rev (1m)-1.38%
PT rev (3m)-1.38%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-8.65%
EPS NY rev (1m)0%
EPS NY rev (3m)-17.39%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)3.26%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-4.93%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 11.94
P/S 1.97
P/FCF 9.77
P/OCF 9.55
P/B 0.87
P/tB 0.87
EV/EBITDA 545.84
EPS(TTM)-0.5
EYN/A
EPS(NY)1.54
Fwd EY8.37%
FCF(TTM)1.88
FCFY10.23%
OCF(TTM)1.92
OCFY10.47%
SpS9.31
BVpS21.08
TBVpS21.08
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -0.06%
ROE -0.35%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 25.8%
FCFM 20.16%
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-Score6
Asset Turnover0.08
Health
Industry RankSector Rank
Debt/Equity 4.57
Debt/FCF 51.37
Debt/EBITDA 468.11
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage N/A
Cash Conversion 932.22%
Profit Quality N/A
Current Ratio 3.17
Quick Ratio 3.17
Altman-Z 0.09
F-Score6
WACC6.92%
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)-121.83%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-61.22%
EPS Next Y2551.65%
EPS Next 2Y535.58%
EPS Next 3Y285.6%
EPS Next 5YN/A
Revenue 1Y (TTM)-19.19%
Revenue growth 3Y27.75%
Revenue growth 5Y15.09%
Sales Q2Q%-25.21%
Revenue Next Year-18.1%
Revenue Next 2Y-2.48%
Revenue Next 3Y1.03%
Revenue Next 5YN/A
EBIT growth 1Y88.79%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-28.66%
FCF growth 3Y-1.47%
FCF growth 5Y3.77%
OCF growth 1Y-27.01%
OCF growth 3Y-1.42%
OCF growth 5Y3.81%