What is the primary revenue source for Blackstone Mortgage Trust (BXMT)?

According to the latest financial reports, the company's revenue is driven by its core business segments and operational services. You can explore the exact breakdown and proportions of each revenue stream using the interactive charts on this page.

How can I visualize and analyze BXMT's financial statements?

gkcal provides interactive Sankey diagrams and profit waterfall charts that map out Blackstone Mortgage Trust's total revenue, cost of goods sold, operating expenses, and net income, making it easy to understand their business model and cash flow at a glance.

How Blackstone Mortgage Trust Makes Money: BXMT Revenue Breakdown (2026)

Operations

Where did the money come from, and where was it spent?

Insufficient data

Current data explains this period's structure but is insufficient for a year-over-year conclusion.

Revenue: USD 317.48M
Selling, general and administrative: USD 28.90M

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YoY periods: H1 2026 compared with H1 2025

Source metrics

RevenueTotal net revenue
Selling, general and administrativesum(SellingAndMarketingExpense, GeneralAndAdministrativeExpense)

The filing lacks sufficient revenue breakdown data to identify specific revenue sources.

Assets

Where is the money tied up, and how is the company financed?

Neutral

Liabilities and shareholder equity jointly fund the asset base, with a broadly stable mix.

Cash and cash equivalents: USD 432.83M
Total liabilities: USD 16.14B
Shareholder equity: USD 3.26B

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Shareholder equityChange in equity · StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Total liabilitiesTotal liabilities · Liabilities
Cash and cash equivalentsCash and cash equivalents · CashAndCashEquivalentsAtCarryingValue

Cash

Did accounting profit ultimately turn into cash?

Insufficient data

Current data explains this period's structure but is insufficient for a year-over-year conclusion.

Operating cash flow: USD 234.94M

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Operating cash flowsum(waterfull.operating)

Some conclusions lack complete source metrics and should be interpreted cautiously.

Capital expenditure data is missing, so free cash flow cannot be calculated.

Shareholders

Did the money earned actually make its way back to shareholders?

Neutral

The company returned cash to shareholders, but free cash flow data is missing, so coverage cannot be assessed.

Cash dividends: USD 158.36M
Share repurchases: USD 3.84M
Net shareholder return: USD 162.20M

View calculation evidence

YoY periods: H1 2026 compared with H1 2025

Source metrics

Cash dividendsPayments of ordinary dividends, common stock · PaymentsOfDividendsCommonStock · abs(node_value)
Net shareholder returndividends_paid + share_repurchases - stock_issuance_proceeds
Share repurchasesPayments for repurchase of common stock · PaymentsForRepurchaseOfCommonStock · abs(node_value)

Diluted share count is missing, so dilution cannot be assessed against buybacks.

Financial Insights

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Where did the money come from, and where was it spent?

Where is the money tied up, and how is the company financed?

Did accounting profit ultimately turn into cash?

Did the money earned actually make its way back to shareholders?