Income Statement

Revenue

+15%

+98%

10Y

Currency: USD

	Mar-2002	Jun-2002	Sep-2002	Dec-2002	Mar-2003	Jun-2003	Sep-2003	Dec-2003	Mar-2004	Jun-2004	Sep-2004	Dec-2004	Mar-2005	Jun-2005	Sep-2005	Dec-2005	Mar-2006	Jun-2006	Sep-2006	Dec-2006	Mar-2007	Jun-2007	Sep-2007	Dec-2007	Mar-2008	Jun-2008	Sep-2008	Dec-2008	Mar-2009	Jun-2009	Sep-2009	Dec-2009	Mar-2010	Jun-2010	Sep-2010	Dec-2010	Mar-2011	Jun-2011	Sep-2011	Dec-2011	Mar-2012	Jun-2012	Sep-2012	Dec-2012	Mar-2013	Jun-2013	Sep-2013	Dec-2013	Mar-2014	Jun-2014	Sep-2014	Dec-2014	Mar-2015	Jun-2015	Sep-2015	Dec-2015	Mar-2016	Jun-2016	Sep-2016	Dec-2016	Mar-2017	Jun-2017	Sep-2017	Dec-2017	Mar-2018	Jun-2018	Sep-2018	Dec-2018	Mar-2019	Jun-2019	Sep-2019	Dec-2019	Mar-2020	Jun-2020	Sep-2020	Dec-2020	Mar-2021	Jun-2021	Sep-2021	Dec-2021	Mar-2022	Jun-2022	Sep-2022	Dec-2022	Mar-2023	Jun-2023	Sep-2023	Dec-2023	Mar-2024	Jun-2024	Sep-2024	Dec-2024	Mar-2025	Jun-2025	Sep-2025	Dec-2025
Revenue
Interest Expense	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Revenue	73 N/A	72 -2%	68 -6%	41 -39%	52 +25%	42 -19%	37 -11%	38 +3%	39 +1%	40 +3%	42 +4%	51 +22%	64 +26%	77 +20%	88 +15%	100 +14%	115 +15%	140 +22%	163 +16%	181 +12%	208 +15%	231 +11%	250 +8%	265 +6%	264 0%	249 -6%	231 -7%	194 -16%	188 -3%	168 -11%	152 -9%	122 -20%	143 +17%	151 +6%	161 +7%	159 -1%	168 +6%	161 -4%	147 -9%	117 -20%	108 -8%	80 -26%	58 -27%	35 -40%	22 -38%	21 -4%	33 +57%	53 +62%	85 +61%	122 +43%	153 +26%	185 +20%	215 +16%	253 +18%	341 +35%	411 +21%	470 +15%	520 +11%	510 -2%	498 -2%	494 -1%	490 -1%	508 +4%	538 +6%	575 +7%	639 +11%	696 +9%	756 +9%	826 +9%	857 +4%	868 +1%	883 +2%	863 -2%	832 -4%	812 -2%	780 -4%	762 -2%	767 +1%	773 +1%	855 +11%	902 +5%	989 +10%	1 147 +16%	1 339 +17%	1 596 +19%	1 834 +15%	1 995 +9%	2 038 +2%	2 032 0%	1 977 -3%	1 889 -4%	1 782 -6%	1 665 -7%	1 597 -4%	1 546 -3%	1 541 0%
Gross Profit
Cost of Revenue	(25)	(22)	(21)	(18)	(15)	(13)	(11)	(10)	(10)	(10)	(11)	(14)	(17)	(22)	(29)	(37)	(49)	(67)	(86)	(105)	(123)	(137)	(152)	(162)	(164)	(157)	(141)	(129)	(113)	(100)	(92)	(80)	(90)	(101)	(113)	(124)	(119)	(120)	(110)	(97)	(94)	(67)	(50)	(38)	(16)	(11)	(11)	(18)	(29)	(44)	(59)	(69)	(81)	(96)	(128)	(152)	(174)	(192)	(186)	(184)	(186)	(191)	(214)	(235)	(258)	(292)	(322)	(360)	(408)	(438)	(452)	(459)	(463)	(452)	(438)	(425)	(399)	(398)	(402)	(429)	(455)	(515)	(641)	(821)	(1 045)	(1 259)	(1 413)	(1 486)	(1 500)	(1 481)	(1 439)	(1 365)	(1 262)	(1 185)	(1 109)	(1 057)
Gross Profit	49 N/A	49 +1%	47 -4%	23 -51%	37 +60%	29 -21%	26 -12%	29 +10%	29 N/A	30 +4%	30 +1%	37 +23%	47 +27%	54 +16%	59 +9%	63 +6%	66 +6%	73 +10%	77 +5%	77 N/A	85 +11%	93 +10%	98 +4%	102 +5%	100 -2%	92 -8%	89 -3%	64 -28%	75 +16%	67 -10%	60 -10%	42 -30%	53 +25%	49 -6%	48 -3%	35 -27%	49 +41%	41 -16%	37 -11%	20 -45%	14 -30%	13 -6%	8 -39%	(3) N/A	6 N/A	10 +53%	22 +133%	35 +59%	56 +60%	78 +39%	94 +21%	116 +23%	133 +15%	156 +17%	213 +36%	258 +21%	297 +15%	328 +11%	324 -1%	314 -3%	308 -2%	299 -3%	295 -1%	303 +3%	317 +5%	348 +10%	375 +8%	397 +6%	417 +5%	420 +1%	417 -1%	424 +2%	400 -6%	380 -5%	374 -2%	354 -5%	363 +2%	369 +2%	371 +1%	426 +15%	446 +5%	474 +6%	506 +7%	518 +2%	551 +6%	575 +4%	581 +1%	552 -5%	532 -4%	495 -7%	450 -9%	417 -7%	403 -3%	412 +2%	437 +6%	485 +11%
Operating Income
Operating Expenses	(14)	(16)	(15)	(10)	(21)	(18)	(17)	(14)	(14)	(14)	(14)	(10)	(18)	(20)	(22)	(23)	(23)	(25)	(25)	(26)	(29)	(25)	(26)	(32)	(31)	(89)	(88)	(120)	(204)	(155)	(202)	(499)	(484)	(478)	(533)	(153)	(109)	(99)	20	27	(5)	(10)	(24)	30	78	28	25	(16)	(21)	(39)	(43)	(47)	(64)	(68)	(78)	(70)	(86)	(85)	(87)	(84)	(84)	(83)	(82)	(85)	(89)	(98)	(104)	(110)	(115)	(115)	(116)	(117)	(100)	(80)	(65)	(46)	(45)	(44)	(44)	(43)	(45)	(47)	(49)	(52)	(53)	(53)	(52)	(301)	(402)	(556)	(693)	(619)	(479)	(419)	(325)	(380)
Selling, General & Administrative	(13)	(12)	(12)	(9)	(12)	(12)	(11)	(13)	(13)	(13)	(13)	(9)	(11)	(14)	(15)	(15)	(21)	(22)	(22)	(16)	(25)	(27)	(28)	(30)	(29)	(27)	(25)	(8)	(21)	(20)	(20)	(7)	(19)	(19)	(18)	(2)	(19)	(20)	(19)	(7)	(12)	(9)	(9)	(5)	(6)	(9)	(9)	(16)	(22)	(38)	(43)	(45)	(55)	(59)	(69)	(67)	(86)	(85)	(87)	(82)	(84)	(83)	(82)	(83)	(88)	(91)	(90)	(107)	(119)	(125)	(131)	(114)	(96)	(76)	(60)	(42)	(41)	(41)	(41)	(39)	(41)	(42)	(43)	(44)	(44)	(44)	(44)	(44)	(45)	(47)	(51)	(69)	(114)	(161)	(200)	(260)
Depreciation & Amortization	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(1)	(3)	(3)	(3)	(4)	(2)	(2)	(2)	(1)	(1)	(1)	0	0	0	(0)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Operating Expenses	(0)	(3)	(2)	0	(8)	(5)	(5)	0	0	0	0	0	(6)	(6)	(6)	(7)	0	0	0	(7)	0	4	4	0	(1)	(62)	(62)	(112)	(183)	(135)	(182)	(493)	(465)	(460)	(514)	(151)	(90)	(79)	40	33	7	(1)	(15)	34	85	37	33	(1)	2	(1)	0	(2)	(9)	(9)	(9)	(3)	0	0	0	(2)	0	0	0	(2)	(1)	(7)	(14)	(3)	4	10	16	(3)	(4)	(4)	(4)	(4)	(3)	(3)	(3)	(4)	(4)	(5)	(6)	(8)	(9)	(10)	(9)	(257)	(357)	(509)	(642)	(550)	(365)	(258)	(125)	(120)
Operating Income	35 N/A	33 -6%	32 -2%	13 -60%	16 +26%	12 -27%	9 -28%	14 +63%	15 +4%	16 +7%	16 +1%	27 +71%	29 +5%	34 +18%	37 +10%	40 +6%	44 +11%	48 +10%	51 +7%	50 -2%	56 +11%	69 +23%	72 +5%	71 -2%	70 -2%	3 -96%	2 -43%	(55) N/A	(130) -135%	(87) +33%	(142) -62%	(457) -223%	(432) +6%	(429) +1%	(485) -13%	(118) +76%	(60) +49%	(58) +4%	57 N/A	47 -18%	9 -81%	3 -67%	(16) N/A	26 N/A	84 +219%	38 -55%	47 +24%	19 -60%	35 +86%	39 +10%	51 +31%	68 +34%	70 +2%	89 +28%	135 +52%	188 +39%	211 +12%	244 +15%	237 -3%	230 -3%	224 -2%	216 -4%	212 -2%	218 +3%	228 +4%	250 +10%	270 +8%	286 +6%	302 +5%	305 +1%	301 -1%	307 +2%	300 -2%	299 0%	309 +3%	308 0%	318 +3%	325 +2%	327 +1%	383 +17%	401 +5%	427 +6%	457 +7%	466 +2%	498 +7%	522 +5%	529 +1%	251 -53%	130 -48%	(61) N/A	(243) -300%	(202) +17%	(76) +63%	(7) +91%	112 N/A	105 -6%
Pre-Tax Income
Interest Income Expense	0	0	0	21	0	0	0	0	0	0	0	(6)	0	0	0	5	0	1	1	1	(0)	(1)	(1)	13	14	14	14	(2)	(3)	(4)	(5)	(4)	(12)	(11)	(9)	4	4	4	3	4	7	10	23	54	55	55	43	7	6	34	35	41	64	39	37	34	13	17	22	17	16	6	1	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(3)	(4)	(6)	(2)	8
Non-Reccuring Items	0	0	0	(29)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	6	6	3	(10)	(24)	(89)	(112)	(123)	(118)	(92)	(71)	190	192	220	222	126	125	137	202	0	50	50	0	0	0	0	(9)	0	0	0	(10)	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(123)	(180)	(173)	(168)	(44)	64	55	40	41	(23)	(32)	(212)	(224)	(239)	(319)	5	(117)	(89)	5	5	2	2	0	0
Total Other Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Pre-Tax Income	35 N/A	33 -6%	32 -2%	5 -83%	16 +204%	12 -27%	9 -28%	14 +63%	15 +4%	16 +7%	16 +1%	22 +34%	29 +33%	34 +18%	37 +10%	44 +19%	44 0%	49 +11%	52 +7%	51 -2%	56 +9%	68 +22%	71 +4%	84 +19%	83 -1%	23 -72%	21 -7%	(54) N/A	(143) -167%	(115) +20%	(235) -104%	(573) -143%	(567) +1%	(558) +2%	(585) -5%	(185) +68%	134 N/A	139 +3%	281 +103%	273 -3%	142 -48%	139 -3%	144 +4%	282 +97%	139 -51%	143 +3%	140 -2%	26 -81%	42 +58%	73 +75%	86 +18%	101 +18%	134 +32%	128 -4%	172 +35%	212 +23%	224 +5%	260 +16%	259 0%	247 -5%	241 -2%	222 -8%	213 -4%	218 +2%	228 +4%	250 +10%	270 +8%	286 +6%	302 +5%	305 +1%	301 -1%	307 +2%	177 -42%	120 -32%	136 +13%	141 +4%	274 +95%	389 +42%	382 -2%	423 +11%	442 +5%	404 -9%	425 +5%	254 -40%	274 +8%	283 +3%	210 -26%	255 +21%	13 -95%	(150) N/A	(237) -58%	(199) +16%	(77) +61%	(10) +87%	110 N/A	113 +3%
Net Income
Tax Provision	(17)	(16)	(16)	(15)	(19)	(15)	(12)	(1)	(1)	(1)	0	1	(1)	(1)	0	(0)	2	2	3	3	2	2	1	1	1	1	1	0	(2)	(2)	(2)	0	0	0	(1)	0	(2)	(3)	(3)	(1)	(3)	(1)	(2)	(0)	0	(1)	0	(1)	(2)	(1)	(1)	(1)	(0)	(0)	(1)	(1)	(1)	(0)	(0)	(0)	0	(0)	(0)	(0)	(0)	(0)	(0)	(0)	(0)	(0)	1	1	1	1	(0)	(0)	(0)	(0)	(0)	(0)	(0)	(1)	(2)	(3)	(5)	(5)	(6)	(5)	(4)	(4)	(4)	(2)	(2)	(2)	(3)	(4)
Income from Continuing Operations	18	16	16	(10)	(3)	(3)	(3)	14	14	15	16	22	28	33	37	44	46	51	55	54	58	69	71	84	84	24	22	(54)	(145)	(117)	(237)	(572)	(567)	(558)	(586)	(185)	132	135	278	271	140	137	142	282	139	143	140	25	40	72	85	101	133	127	172	212	223	260	259	246	241	222	213	218	228	250	270	286	302	305	302	307	177	120	136	140	274	388	382	422	442	403	423	251	269	278	205	250	8	(155)	(241)	(202)	(79)	(12)	107	110
Income to Minority Interest	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	1	(7)	(2)	6	(69)	(62)	(73)	(99)	(26)	(29)	(25)	(10)	(9)	(10)	(9)	(10)	(21)	(19)	(19)	(15)	(5)	(8)	(9)	(8)	(8)	(2)	(0)	(0)	(1)	(1)	(1)	(1)	(1)	(1)	(2)	(2)	(2)	(2)	(3)	(3)	(3)	(3)	(3)	(3)	(3)	(3)	(3)	(2)	(3)	(3)	(3)	(3)	(3)	(3)	(3)	(2)	(2)	(1)	(0)	(0)
Net Income (Common)	9 N/A	8 -16%	6 -16%	(10) N/A	(9) +9%	(7) +17%	(4) +44%	14 N/A	14 +4%	15 +6%	16 +7%	22 +37%	28 +28%	33 +19%	37 +12%	44 +18%	46 +4%	51 +12%	55 +7%	54 -1%	58 +7%	69 +19%	71 +3%	84 +19%	84 0%	24 -71%	22 -7%	(58) N/A	(145) -153%	(117) +20%	(237) -103%	(576) -143%	(567) +2%	(558) +2%	(586) -5%	(185) +68%	133 N/A	128 -4%	276 +116%	276 0%	70 -75%	74 +6%	68 -9%	181 +168%	111 -38%	112 +0%	113 +1%	15 -87%	31 +108%	62 +99%	76 +22%	90 +19%	112 +25%	108 -4%	153 +41%	197 +29%	219 +11%	252 +15%	250 -1%	238 -5%	233 -2%	220 -5%	213 -3%	218 +2%	227 +4%	249 +10%	269 +8%	285 +6%	301 +5%	304 +1%	300 -1%	306 +2%	176 -43%	118 -33%	133 +13%	138 +4%	271 +97%	385 +42%	379 -2%	419 +11%	439 +5%	401 -9%	420 +5%	249 -41%	267 +7%	275 +3%	201 -27%	247 +22%	5 -98%	(158) N/A	(244) -54%	(204) +16%	(81) +61%	(13) +84%	107 N/A	110 +2%
EPS (Diluted)	13 N/A	12.66 -3%	10.66 -16%	-16.16 N/A	-14.66 +9%	-12.16 +17%	-0.4 +97%	13.5 N/A	20.14 +49%	18.75 -7%	13.41 -28%	22 +64%	18.73 -15%	22.26 +19%	24.86 +12%	29.4 +18%	28.62 -3%	32 +12%	34.24 +7%	33.81 -1%	32.16 -5%	38.38 +19%	39.55 +3%	46.88 +19%	46.83 0%	10.95 -77%	10.13 -7%	-27.38 N/A	-66.09 -141%	-53.18 +20%	-107.81 -103%	-261.99 -143%	-257.63 +2%	-242.39 +6%	-266.22 -10%	-84.22 +68%	57.69 N/A	55.65 -4%	115.16 +107%	115 0%	29.25 -75%	29.72 +2%	27.04 -9%	72.4 +168%	37.13 -49%	9.01 -76%	3.91 -57%	0.81 -79%	0.82 +1%	1.29 +57%	1.53 +19%	1.86 +22%	1.91 +3%	1.33 -30%	1.63 +23%	2.41 +48%	2.32 -4%	2.7 +16%	2.67 -1%	2.53 -5%	2.44 -4%	2.33 -5%	2.25 -3%	2.27 +1%	2.09 -8%	2.28 +9%	2.31 +1%	2.5 +8%	2.41 -4%	2.4 0%	2.23 -7%	2.35 +5%	1.29 -45%	0.85 -34%	0.9 +6%	0.97 +8%	1.85 +91%	2.62 +42%	2.53 -3%	2.77 +9%	2.49 -10%	2.16 -13%	2.26 +5%	1.46 -35%	1.47 +1%	1.52 +3%	1.16 -24%	1.43 +23%	0.02 -99%	-0.91 N/A	-1.4 -54%	-1.17 +16%	-0.46 +61%	-0.07 +85%	0.62 N/A	0.64 +3%

Income Statement Balance Sheet Cash Flow Statement

Blackstone Mortgage Trust Inc
NYSE:BXMT

Income Statement

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Blackstone Mortgage Trust Inc

Income Statement
Blackstone Mortgage Trust Inc

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Blackstone Mortgage Trust Inc NYSE:BXMT

Income Statement

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Income Statement Blackstone Mortgage Trust Inc

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Blackstone Mortgage Trust Inc
NYSE:BXMT

Earnings Waterfall
Blackstone Mortgage Trust Inc

Income Statement
Blackstone Mortgage Trust Inc