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Side-by-side financial comparison of Blackstone Inc. (BX) and PENN Entertainment, Inc. (PENN). Click either name above to swap in a different company.
Blackstone Inc. is the larger business by last-quarter revenue ($3.3B vs $1.8B, roughly 1.8× PENN Entertainment, Inc.). Blackstone Inc. runs the higher net margin — 36.7% vs -0.2%, a 36.9% gap on every dollar of revenue. On growth, PENN Entertainment, Inc. posted the faster year-over-year revenue change (6.4% vs -9.1%). Over the past eight quarters, Blackstone Inc.'s revenue compounded faster (8.5% CAGR vs 3.4%).
Blackstone Inc. is an American alternative investment management company based in New York City. It was founded in 1985 as a mergers and acquisitions firm by Peter Peterson and Stephen Schwarzman, who had previously worked together at Lehman Brothers. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate business has actively acquired commercial real estate across the globe.
Penn Entertainment, Inc., formerly Penn National Gaming, is an American entertainment company and operator of integrated entertainment, sports content, and casino gambling. It operates 43 properties in 20 states, under brands including Hollywood Casino, Ameristar, and Boomtown. It also owns the Canadian digital media company Score Media and Gaming.
BX vs PENN — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $3.3B | $1.8B |
| Net Profit | $1.2B | $-2.8M |
| Gross Margin | — | — |
| Operating Margin | — | 5.5% |
| Net Margin | 36.7% | -0.2% |
| Revenue YoY | -9.1% | 6.4% |
| Net Profit YoY | -3.9% | — |
| EPS (diluted) | $0.80 | $-0.02 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $3.3B | $1.8B | ||
| Q4 25 | $4.4B | $1.8B | ||
| Q3 25 | $3.1B | $1.7B | ||
| Q2 25 | $3.7B | $1.8B | ||
| Q1 25 | $3.3B | $1.7B | ||
| Q4 24 | $3.1B | $1.7B | ||
| Q3 24 | $3.7B | $1.6B | ||
| Q2 24 | $2.8B | $1.7B |
| Q1 26 | $1.2B | $-2.8M | ||
| Q4 25 | $1.0B | $-72.9M | ||
| Q3 25 | $624.9M | $-864.6M | ||
| Q2 25 | $764.2M | $-17.4M | ||
| Q1 25 | $614.9M | $111.8M | ||
| Q4 24 | $703.9M | $-133.3M | ||
| Q3 24 | $780.8M | $-36.7M | ||
| Q2 24 | $444.4M | $-26.8M |
| Q1 26 | — | 5.5% | ||
| Q4 25 | 54.1% | -1.0% | ||
| Q3 25 | 46.8% | -45.2% | ||
| Q2 25 | 51.6% | 4.4% | ||
| Q1 25 | 44.2% | 2.6% | ||
| Q4 24 | 50.6% | -2.9% | ||
| Q3 24 | 49.4% | 4.1% | ||
| Q2 24 | 43.2% | 4.5% |
| Q1 26 | 36.7% | -0.2% | ||
| Q4 25 | 23.3% | -4.0% | ||
| Q3 25 | 20.2% | -50.3% | ||
| Q2 25 | 20.6% | -1.0% | ||
| Q1 25 | 18.7% | 6.7% | ||
| Q4 24 | 22.8% | -8.0% | ||
| Q3 24 | 21.3% | -2.2% | ||
| Q2 24 | 15.9% | -1.6% |
| Q1 26 | $0.80 | $-0.02 | ||
| Q4 25 | $1.29 | $-0.36 | ||
| Q3 25 | $0.80 | $-6.03 | ||
| Q2 25 | $0.98 | $-0.12 | ||
| Q1 25 | $0.80 | $0.68 | ||
| Q4 24 | $0.91 | $-0.87 | ||
| Q3 24 | $1.02 | $-0.24 | ||
| Q2 24 | $0.58 | $-0.18 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.4B | $708.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $18.5B | — |
| Total Assets | $45.3B | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $2.4B | $708.0M | ||
| Q4 25 | $2.6B | $686.6M | ||
| Q3 25 | $2.4B | $660.1M | ||
| Q2 25 | $2.2B | $671.6M | ||
| Q1 25 | $2.4B | $591.6M | ||
| Q4 24 | $2.0B | $706.6M | ||
| Q3 24 | $2.4B | $834.0M | ||
| Q2 24 | $2.4B | $877.6M |
| Q1 26 | — | — | ||
| Q4 25 | $12.6B | $2.9B | ||
| Q3 25 | $12.1B | $2.9B | ||
| Q2 25 | $12.1B | $2.8B | ||
| Q1 25 | $12.6B | $2.6B | ||
| Q4 24 | $11.5B | $2.8B | ||
| Q3 24 | $10.9B | $2.8B | ||
| Q2 24 | $10.8B | $2.8B |
| Q1 26 | $18.5B | — | ||
| Q4 25 | $8.7B | $1.8B | ||
| Q3 25 | $8.4B | $2.0B | ||
| Q2 25 | $8.4B | $3.0B | ||
| Q1 25 | $8.0B | $3.0B | ||
| Q4 24 | $8.2B | $2.9B | ||
| Q3 24 | $7.0B | $3.1B | ||
| Q2 24 | $6.8B | $3.1B |
| Q1 26 | $45.3B | — | ||
| Q4 25 | $47.7B | $14.3B | ||
| Q3 25 | $46.6B | $14.3B | ||
| Q2 25 | $45.4B | $15.2B | ||
| Q1 25 | $45.3B | $15.1B | ||
| Q4 24 | $43.5B | $15.3B | ||
| Q3 24 | $42.6B | $15.5B | ||
| Q2 24 | $40.6B | $15.5B |
| Q1 26 | — | — | ||
| Q4 25 | 1.45× | 1.58× | ||
| Q3 25 | 1.44× | 1.46× | ||
| Q2 25 | 1.45× | 0.94× | ||
| Q1 25 | 1.58× | 0.89× | ||
| Q4 24 | 1.40× | 0.98× | ||
| Q3 24 | 1.55× | 0.91× | ||
| Q2 24 | 1.58× | 0.91× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BX
| Management and Advisory Fees, Net | $1.9B | 58% |
| Realized | $562.0M | 17% |
| Other | $368.1M | 11% |
| Unrealized | $263.2M | 8% |
| Incentive Fees | $191.8M | 6% |
PENN
| Northeast segment (1) | $687.1M | 39% |
| Interactive (5) | $358.3M | 20% |
| Midwest segment (4) | $305.9M | 17% |
| South segment (2) | $281.3M | 16% |
| West segment (3) | $145.8M | 8% |
