BlackRock Technology and Private Equity Term Trust (BTX) Key Metrics
BTX valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $988.5M
- Enterprise value
- −$5.8M
- P/E (TTM)
- 2.4 10-yr median 45.0
- Forward P/E
- —
- PEG ratio
- —
- Price / sales
- 2.4 10-yr median 39.5
- Price / book
- 0.8 10-yr median 0.8
- EV / EBITDA
- 0.1
- Dividend yield
- 7.44% $0.63 a year
- Beta
- —
BTX key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsBTX valuation Price multiples at each fiscal year-end price.
BTX returns How much profit the business earns on the capital it uses.
BTX per-share figures Results divided by the shares outstanding at year-end.
BTX financial health Debt, liquidity and how easily interest is covered.
BTX efficiency & capital use Working capital cycle and where the cash goes.
BTX valuation history
BTX returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
BTX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
BTX cash returned to shareholders
BTX price vs earnings per share
BTX key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $769.1M | $1.61B | $1.58B | $1.63B | $3.61B | — | — | — | — | — |
| Enterprise value | $768.7M | — | $1.62B | $1.64B | $3.61B | — | — | — | — | — |
| P/E ratio | 88.5 | 45.0 | 7.5 | — | — | — | — | — | — | — |
| Price / sales | 67.0 | 39.5 | 7.3 | — | — | — | — | — | — | — |
| Price / book | 0.8 | 0.9 | 0.8 | 0.8 | 0.9 | — | — | — | — | — |
| Price / free cash flow | 0.9 | 5.8 | 7.3 | 5.3 | — | — | — | — | — | — |
| Price / operating cash flow | 0.9 | 5.8 | 7.3 | 5.3 | — | — | — | — | — | — |
| EV / sales | 66.9 | — | 7.5 | — | — | — | — | — | — | — |
| EV / EBITDA | 88.5 | — | — | — | — | — | — | — | — | — |
| EV / free cash flow | 0.9 | — | 7.5 | 5.3 | — | — | — | — | — | — |
| Earnings yield | 1.1% | 2.2% | 13.4% | −101.5% | −17.7% | — | — | — | — | — |
| Free cash flow yield | 114.1% | 17.3% | 13.7% | 19.0% | −128.5% | — | — | — | — | — |
| Dividend yield | 19.9% | 11.5% | 11.1% | 14.4% | 4.5% | — | — | — | — | — |
| Shareholder yield (dividends + buybacks) | 114.1% | 17.3% | 13.7% | 19.0% | 6.2% | — | — | — | — | — |
| Share price at fiscal year-end | $6.59 | $7.44 | $7.33 | $6.81 | $14.54 | — | — | — | — | — |
| Per share | ||||||||||
| Revenue per share | $0.10 | $0.19 | $1.00 | $0.00 | $0.00 | — | — | — | — | — |
| Earnings per share | $0.07 | $0.17 | $0.98 | −$6.91 | −$2.58 | — | — | — | — | — |
| Operating cash flow per share | $7.52 | $1.28 | $1.00 | $1.30 | −$18.68 | — | — | — | — | — |
| Free cash flow per share | $7.52 | $1.28 | $1.00 | $1.30 | −$18.68 | — | — | — | — | — |
| Cash per share | $0.00 | — | $0.00 | $0.00 | $0.00 | — | — | — | — | — |
| Book value per share | $7.84 | $8.27 | $9.39 | $8.45 | $16.03 | — | — | — | — | — |
| Tangible book value per share | $7.84 | $8.27 | $9.38 | $8.45 | $16.00 | — | — | — | — | — |
| Dividends per share | $1.31 | $0.86 | $0.82 | $0.98 | $0.65 | — | — | — | — | — |
| Capex per share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | — | — | — | — | — |
| Debt per share | — | — | $0.19 | $0.02 | $0.01 | — | — | — | — | — |
| Shares outstanding | 116.7M | 215.9M | 215.9M | 239.7M | 248.3M | — | — | — | — | — |
| Change in shares outstanding | −45.9% | +0.0% | −9.9% | −3.5% | — | — | — | — | — | — |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 0.6% | 1.9% | 10.4% | −55.1% | −32.1% | 186.8% | −4.2% | −94.1% | −22.4% | −7.3% |
| Return on invested capital (ROIC) | 0.5% | 1.5% | 10.3% | −43.5% | −25.3% | −68.0% | −1.9% | −68.3% | −36.3% | −9.3% |
| Return on assets (ROA) | 0.6% | 1.8% | 10.3% | −54.5% | −31.8% | 84.5% | −3.5% | −77.8% | −6.5% | −5.2% |
| Return on tangible assets | 0.9% | 2.0% | 10.2% | −80.6% | −16.0% | 244.4% | −16.2% | −47.0% | −7.6% | −19.8% |
| Free cash flow margin | — | 681.3% | 100.5% | — | — | — | 8.3% | −371.2% | −4.2% | −3.7% |
| Income quality (OCF / net income) | 101.06 | 7.76 | 1.02 | — | — | −0.68 | — | — | — | — |
| Financial health | ||||||||||
| Total debt | — | — | $41.8M | $4.1M | $2.7M | $2.9M | $6.1M | $2.8M | $172,000 | $5.4M |
| Cash & short-term investments | $449,080 | — | $367 | $335 | $1,101 | $1.6M | $3.3M | $2.5M | $3.4M | $5.7M |
| Net debt | −$449,080 | — | $41.8M | $4.1M | $2.7M | $1.3M | $2.8M | $234,000 | −$3.2M | −$304,000 |
| Debt / equity | — | — | 0.02 | 0.00 | 0.00 | 0.38 | 1.19 | 0.03 | 0.03 | 1.32 |
| Debt / assets | — | — | 0.02 | 0.00 | 0.00 | 0.22 | 0.40 | 0.03 | 0.01 | 0.32 |
| Net debt / EBITDA | −0.05 | — | — | — | — | — | 1.44 | — | — | — |
| Current ratio | 0.13 | — | 0.00 | 0.00 | 0.00 | 0.55 | 1.00 | 1.33 | 0.90 | 1.60 |
| Quick ratio | 0.13 | — | 0.00 | 0.12 | 0.00 | 0.55 | 0.82 | 1.33 | 0.90 | 1.60 |
| Interest coverage | — | — | — | — | — | -168.6 | -4.9 | — | — | — |
| Working capital | −$9.0M | — | −$6.6M | −$7.7M | −$3.7M | −$1.4M | −$25,000 | $1.8M | −$1.1M | $4.0M |
| Invested capital | $915.0M | $1.78B | $2.07B | $2.03B | $3.98B | $8.9M | $7.9M | $92.5M | $2.3M | $3.8M |
| Tangible asset value | $915.5M | $1.78B | $2.02B | $2.02B | $3.97B | −$375,000 | $2.5M | $88.5M | $3.1M | $2.1M |
| Net current asset value | −$22.1M | — | −$40.7M | −$30.2M | −$37.5M | −$3.5M | −$4.1M | −$2.2M | −$1.4M | −$2.0M |
| Graham number | $3.62 | $5.55 | $14.39 | — | — | — | — | — | — | — |
| Graham net-net per share | −$0.19 | −$0.11 | −$0.19 | −$0.11 | −$0.13 | — | — | — | — | — |
| Capital allocation | ||||||||||
| Dividends paid | $153.4M | $184.7M | $176.1M | $235.8M | $161.3M | $16,000 | $16,000 | $8,000 | $16,000 | $16,000 |
| Share buybacks (net) | $724.0M | $92.5M | $40.5M | $74.5M | $61.9M | — | — | $0 | $0 | $0 |
| Dividend payout ratio | — | 517.4% | 83.2% | — | — | 0.1% | — | — | — | — |
| Dividends + buybacks / free cash flow | 99.9% | 100.0% | 100.0% | 100.0% | — | — | 1.0% | — | — | — |
| Capex / revenue | 0.0% | 0.0% | 0.0% | — | — | 672,413.8% | 5.5% | 1.5% | 6.8% | 3.8% |
| Capex / operating cash flow | 0.0% | 0.0% | 0.0% | 0.1% | — | — | 39.9% | — | 264.5% | 3,652.2% |
| Capex / depreciation | — | — | 0.02 | 0.60 | 0.34 | 0.40 | 0.35 | 0.55 | 0.63 | 0.29 |
| Stock-based compensation / revenue | — | — | 0.6% | — | — | 1,568,965.5% | — | — | — | — |
| R&D / revenue | — | — | 2.7% | — | — | 68,120,689.7% | 0.1% | 420.1% | 112.9% | 161.8% |
| SG&A / revenue | 18.5% | 10.8% | 1.8% | — | — | 56,844,827.6% | 66.4% | 495.7% | 73.3% | 73.8% |
| Efficiency | ||||||||||
| Days sales outstanding | 16.0 | 1.8 | 3.8 | — | — | 37,604,943.1 | 18.8 | 57.2 | 14.1 | 21.0 |
| Days of inventory on hand | — | — | — | -698.4 | — | — | 50.7 | — | — | — |
| Days payables outstanding | 638,096.6 | — | 14,526.6 | 8,090.4 | 2,222.4 | 3,929.3 | 81.0 | 2,166.8 | 68.4 | 103.9 |
| Cash conversion cycle (days) | -638,080.6 | — | -14,522.8 | — | — | 37,601,013.8 | -11.5 | -2,109.5 | -54.3 | -82.9 |
| Receivables turnover | 22.86 | 203.68 | 95.44 | 0.00 | 0.00 | 0.00 | 19.37 | 6.38 | 25.91 | 17.34 |
| Payables turnover | 0.00 | 0.00 | 0.03 | 0.05 | 0.16 | 0.09 | 4.50 | 0.17 | 5.34 | 3.51 |
| Inventory turnover | — | — | — | — | — | — | 7.20 | — | — | — |
| Asset turnover | 0.01 | 0.02 | 0.10 | 0.00 | 0.00 | 0.00 | 0.34 | 0.08 | 1.28 | 0.40 |
| Average receivables | $502,448 | $199,782 | $2.3M | $5.3M | $3.2M | $597,558 | $1.0M | $782,000 | $821,000 | $1.3M |
| Average payables | $4.4M | $533,500 | $9.4M | $11.0M | $2.8M | $1.1M | $1.7M | $1.8M | $1.3M | $2.2M |
| Average inventory | — | — | — | −$951,000 | — | — | $1.1M | — | $0 | $500 |
| Intangibles / total assets | 0.0% | 0.0% | 0.1% | 0.1% | 0.2% | 62.3% | 17.1% | 3.7% | 14.9% | 11.6% |
Computed from BTX's annual financial statements (latest annual report filed December 31, 2025) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
BTX valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), BlackRock Technology and Private Equity Term traded at 88.5 times earnings, against a 10-year median of 45.0. Based on the latest twelve months, the trailing P/E is 2.4. BlackRock Technology and Private Equity Term earned a return on equity of 0.6% and a return on invested capital of 0.5% in fiscal 2025. It returned $877.4 million to shareholders: $153.4 million in dividends and $724.0 million in share buybacks, 100% of free cash flow.
See the BTX income statement, the BTX chart for price history, or the BTX stock overview for the latest quote and news.
BTX key metrics FAQ
What is BlackRock Technology and Private Equity Term's P/E ratio?
BlackRock Technology and Private Equity Term's trailing P/E ratio is 2.4 based on the last twelve months of earnings (as of October 18, 2026). At the end of fiscal 2025 it was 88.5, compared with a 10-year median of 45.0.
What is BlackRock Technology and Private Equity Term's EV/EBITDA?
BlackRock Technology and Private Equity Term's enterprise value was 88.5 times EBITDA at the end of fiscal 2025 (enterprise value $768.7 million, EBITDA $8.7 million); the current EV/EBITDA is 0.1.
What is BlackRock Technology and Private Equity Term's return on equity?
BlackRock Technology and Private Equity Term's return on equity (ROE) was 0.6% in fiscal 2025: net income of $8.7 million on average shareholders' equity of $1.4 billion.
What is BlackRock Technology and Private Equity Term's ROIC?
BlackRock Technology and Private Equity Term's return on invested capital was 0.5% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
What is BlackRock Technology and Private Equity Term's dividend yield?
BlackRock Technology and Private Equity Term's forward dividend yield is 7.44%. BlackRock Technology and Private Equity Term paid $153.4 million in dividends in fiscal 2025 ($1.31 per share), a payout ratio of —.
Does BlackRock Technology and Private Equity Term buy back its shares?
Yes. BlackRock Technology and Private Equity Term spent $724.0 million on net share repurchases in fiscal 2025 Shares outstanding changed −45.9% over the year, to 116.7M..
What is BlackRock Technology and Private Equity Term's free cash flow yield?
BlackRock Technology and Private Equity Term generated $877.8 million of free cash flow in fiscal 2025, a free cash flow yield of 114.1% on its market value at year-end ($769.1 million).
What is BlackRock Technology and Private Equity Term's current ratio?
BlackRock Technology and Private Equity Term's current ratio was 0.13 at the end of fiscal 2025: current assets were 0.13 times current liabilities.