Company Analysis

Blackstone Mortgage Trust, Inc. (BXMT)

NYSE: BXMT · Real Estate Investment Trusts · New York, NY · filing with the SEC since 1998
Grade6.4
◀ Past 7.5● Present 5.3▶ Future 7.0
1 est.

The grade of Blackstone Mortgage Trust, Inc.

Nine metrics read from its own filings, by tense
Headline grade
6.4/10
◀ Past7.525% of the headline
● Present5.345% of the headline
▶ Future7.030% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

7.5/1025% of the headline grade · 3 of 3 filed

Surviving crises

as filed
7.0/10

Has it survived what it has been through?

No warning events in its filings since 2017.

weight 45% of this tense · 70th percentile among 174 sector filers · read for itself

From the record

Blackstone Mortgage Trust, Inc.'s filings since 2017 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
7.5/10

What has it actually done, year after year?

+30.6% a year over 10 filed years; profitable in 8 of 8.

weight 33% of this tense · 75th percentile among 156 sector filers · read for its customers

From the record

Blackstone Mortgage Trust, Inc.'s 10 filed years say what it did: revenue went from $185 million in fiscal 2014 to $2.0 billion in fiscal 2023, up 30.6% a year; it rose in 8 of 9 years; the deepest fall was 12% from fiscal 2019 to fiscal 2020; net income was positive in 8 of 8 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span30.6%top 6% of its family
  • the share of years revenue rosetop 28% of its family
  • the share of filed years with a profittop 20% of its family
  • the deepest fall from a revenue peak11.7%top 48% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed
8.5/10

How has it treated the people who own it?

Share count grew 0.1% a year. 100% of cash flow returned. Insiders: 12 sales, 3 purchases.

weight 22% of this tense · 85th percentile among 156 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-12-31, Blackstone Mortgage Trust, Inc.'s diluted share count grew about 0.1% a year, and dividends and buybacks returned about 100% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 12 sales (11 under scheduled 10b5-1 plans) and 3 purchases of their own stock on the open market in the year to 2026-11-05, buying about $1 million (their Form 4 filings).

What it rests on

  • the share count over the yearstop 20% of its family
  • cash returned against operating cash flowtop 9% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

5.3/1045% of the headline grade · 3 of 3 filed

Financial health

as filed
5.2/10

Is it financially healthy right now?

ROE 3%: 3¢ of profit per shareholder dollar. Leverage 82%: owes 82¢ per asset dollar.

weight 45% of this tense · 52nd percentile among 171 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Blackstone Mortgage Trust, Inc. earned about 3 cents of profit for every dollar of shareholders' money. Leverage: it owed about 82 cents per dollar of assets, and net share issuance: its share count shrank 1.6% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetsbottom 23% of its family
  • return on equitybottom 41% of its family
  • the share count against the year beforetop 9% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
7.5/10

How strong is its position in its industry?

top 25% of 157 in its family; net margin 12.1%.

weight 33% of this tense · 75th percentile among 157 sector filers · read for its customers

From the record

Blackstone Mortgage Trust, Inc.'s standing among 157 graded names in its industry family: revenue of $2.0 billion in fiscal 2023 ranks in the top 20% by size; a net margin of 12.1% ranks in the bottom 47%; revenue growth of 37.8% a year over the last 3 filed years ranks in the top 2% (its annual reports).

What it rests on

  • revenue against the family$2.04Btop 20% of its family
  • net margin12.1%bottom 47% of its family
  • three-year revenue growth37.8%top 2% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

as filed
2.4/10

What are the people in charge doing?

bottom 24% of 160 in its family for leadership; chief executive since 2025.

weight 22% of this tense · 24th percentile among 160 sector filers · read for its shareholders

From the record

Blackstone Mortgage Trust, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Johnson, Timothy Steven (Chief Executive Officer, as filed), filing under that title since 2025-12-17, 11 months (bottom 6% of its family); the 12 officers and directors filing in the last fifteen months have been on the record a median of 6 years (bottom 25%); 5 officer or director changes were reported on Form 8-K since 2023-11-13, against the 12 people in charge now (bottom 40%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

What it rests on

  • officer and director changes on Form 8-K, against the people in charge5 in three years among 12 peoplebottom 40% of its family
  • the median years the people in charge have filed6.0 yearsbottom 25% of its family
  • the chief executive's years on the record11 monthsbottom 6% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

▶ Future

What are they set up to do next?

7.0/1030% of the headline grade · 2 of 3 filed, 1 estimated

Room to expand

SI estimate
8.3/10

How much room does it have to grow?

SI estimate 8.3/10, confidence 35 of 100 (one part).

weight 22% of this tense · 83rd percentile among 172 sector filers · read for itself

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, cash less debt against assets, which ranks in the top 17% of 172 in its family; the record does not carry two of the four parts: cash less debt against assets, cash from operations less capital spending against revenue, gross margin, research against revenue.
What the record cannot read
The record does not carry two of the four parts: cash less debt against assets, cash from operations less capital spending against revenue, gross margin, research against revenue.
How it was reasoned
one part: cash less debt against assets, the one part on file, ranked among 172 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Blackstone Mortgage Trust, Inc.'s room to expand is put at 8.3 of 10 with a confidence of 35 of 100, because read from one part only, cash less debt against assets, which ranks in the top 17% of 172 in its family; the record does not carry two of the four parts: cash less debt against assets, cash from operations less capital spending against revenue, gross margin, research against revenue. A filing that carries the missing parts replaces this estimate with the filed reading.

Growth drivers

as filed
9.2/10

What could actually drive growth from here?

top 8% of 153 in its family for growth drivers.

weight 33% of this tense · 92nd percentile among 153 sector filers · read for its customers

From the record

Blackstone Mortgage Trust, Inc.'s growth drivers, from the filed years to fiscal 2023: revenue grew 37.8% a year over the last three filed years against 30.6% over all 10, speeding up (top 13% of its family); the newest year grew 52.2% (top 2%) (its annual reports). Blackstone Mortgage Trust, Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

  • three-year growth against the whole span+7.2 points a yeartop 13% of its family
  • the newest year's revenue growth52.2%top 2% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
4.8/10

Did its newest year beat what its own record pointed to?

bottom 48% of 150 in its family for expectations against reality.

weight 45% of this tense · 48th percentile among 150 sector filers · read for its shareholders

From the record

Blackstone Mortgage Trust, Inc.'s newest year against its own record: revenue of $2.0 billion in fiscal 2023 came in 16.1% above the $1.8 billion its prior three years' pace pointed to (top 8% of its family); net income of $247 million against a prior three-year average of $269 million (bottom 38%); a net margin of 12.1% against 28.4% before (bottom 14%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace16.1%top 8% of its family
  • net income against the prior three years' average-8%bottom 38% of its family
  • net margin against its prior average-16.3 pointsbottom 14% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton BXMT · research, not advice