— Know what they know.
/
Not Investment Advice

BLK

NYSE · USD
BlackRock, Inc.
Financial Services · Asset Management
CEO Laurence Douglas Fink Employees 24,900 R&D / revenue 0.8%
Last price
$1,134.38+1.21%last session
Market cap
$175.7B
P/E (TTM)
25.5x
From 52w high
−4.4%
From 52w low
+23.7%
1-year return
−2.7%
RSI 14 · vs SMA200
63.6 · +7.0%
IS score
39.3/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

BLK   SPY   XLF (sector ETF) · weekly closes
8090100110120Jan 26Apr 26Jul 26Oct 26SPY 116XLF 107BLK 97

Score DNA

Each bar is a 0-100 score within the scored universe
69
Profitability
68
Growth
51
Value
64
Momentum
30
Risk (safety)
64
Quality
77
Balance sheet
51
Earnings quality

Flags

Strengths
✓ Net cash✓ Congress buying
Warnings
▲ Share count rising
Observations
Moat model: Weak, Efficient ScalePiotroski 6 / 9Beta 1.433 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
10 open-market sales, $66.8M
Form 144 notices (12m): 14, $206.1M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
1
Last disclosed purchase 2026-08-10
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+5
162 new holders, 126 closed
2,298 filers hold 78.6% · 925 added, 884 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+61
1,199 funds adding shares
1,138 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
55.1%
20-day avg 48.2%, 50-day avg 47.9%
Latest 6.9 pp over its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$24.2B
Revenue growth YoY+18.7%
Gross margin55.5%
Operating income$7.0B
Operating margin29.1%
Net income$5.6B
Net margin22.9%
EPS (diluted)$35.42
Cash flow
Operating cash flow$4.1B
Capital expenditure$375.0M
Free cash flow$3.7B
FCF conversion (FCF / OCF)90.9%
Stock-based compensation$0
FCF less SBC$3.7B
Buybacks$2.0B
Dividends$3.3B
Balance sheet & returns
Cash & short-term investments$11.5B
Total debt$13.0B
Net debt$1.5B
Shareholders' equity$61.5B
Goodwill & intangibles$63.3B
Debt / equity0.26
ROE (TTM)12.2%
ROIC (TTM)6.7%
Operating margin by fiscal year
38.5%FY202135.7%FY202235.1%FY202337.1%FY202429.1%FY2025
Revenue $19.4B (FY2021) to $24.2B (FY2025), a 5.7% CAGR.

Valuation

P/E (TTM)25.5x
EV / EBITDA16.0x
Price / sales6.16x
Price / FCF178.4x
FCF yield0.56%
Buyback yield1.11%
SBC / revenue3.7%
Price / book3.05x
Forward P/E FY202619.8x
Forward P/E FY202717.5x
Forward P/E FY202815.3x
Forward multiples divide today's price by Street EPS estimates. Street mean target $1,327.00 across 12 analysts last quarter is theirs, not ours.

BLK vs industry median

908 companies in Asset Management
Gross margin 65.0% 84.6% Operating margin 30.8% 34.7% Net margin 24.2% 18.2% ROIC 6.7% 6.4%
BLK (TTM)Industry median Asset turnover 0.16 vs industry 0.11 · financial leverage 3.05

Earnings delivery

Next report 2027-01-21 · consensus EPS $15.43
100%
beat rate, 12 of 12 quarters
+8.6%
median EPS surprise
12
longest beat streak
+2+10+32+5+4+11+12+12+2+8+8+11
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-04-14 to 2026-10-14. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
BLK BlackRock, Inc. $175.7B25.5x12.2%24.2%+18.7% −2.7%
BX Blackstone Inc. $122.7B23.7x40.5%25.8%+28.6% −31.9%
BN Brookfield Corporation $81.7B65.2x3.0%1.8%+2.2% −16.3%
KKR KKR & Co. Inc. $77.4B25.7x10.6%12.4%+30.7% −26.5%
BAM Brookfield Asset Management $72.4B26.4x10.1%52.9%+26.5% −15.6%
APO Apollo Global Management, In $65.4B24.0x14.3%12.1%+34.6% —
STT State Street Corporation $45.5B13.3x12.4%18.0%+2.2% —
AMP Ameriprise Financial, Inc. $44.2B11.9x63.4%22.2%+9.0% —
12-month window: SPY +15.9%, sector ETF XLF +7.2%. Past returns describe history only.

Recent 8-K filings

2026-10-14Earnings Release; Regulation FD; Exhibits
2026-07-15Earnings Release; Regulation FD; Exhibits
2026-06-30Other Events; Exhibits
2026-05-22Shareholder Vote
2026-04-14Earnings Release; Regulation FD; Exhibits
2026-04-03Material Agreement; Financial Obligation; Exhibits

Context

Shares outstanding154,869,259
Free float92.8%
Institutional ownership78.6%
Beta1.43
Dividend yield1.97%
Last dividend$5.73 on 2026-09-08
50 / 200-day average$1,106.31 / $1,060.91
Large-cap Financial Services median P/E14.0x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Weak).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where BLK sits among 110 scored companies in Asset Management (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureBLKIndustry medianIndustry percentileSector median
P/E (TTM) 25.4x 13.3x
79th		 11.9x
PEG (P/E ÷ 3-yr EPS CAGR) 4.62 0.88
86th		 1.04
Price / sales 6.2x 3.9x
80th		 2.5x
Price / book 3.0x 1.4x
71st		 1.3x
Price / tangible book —
Price / free cash flow 91.4x 10.3x
94th		 11.8x
Price / operating cash flow 71.2x 10.2x
97th		 11.7x
Enterprise value $165.0B $3.4B
96th		 $3.4B
EV / sales 5.8x 6.7x
44th		 6.0x
EV / EBITDA 14.6x 12.2x
62nd		 13.0x
EV / EBIT 16.7x 14.4x
67th		 15.5x
EV / free cash flow 85.8x 11.6x
93rd		 15.9x
Earnings yield 3.9% 5.7%
38th		 7.9%
FCF yield 1.1% 8.3%
23rd		 6.3%
Operating cash flow yield 1.4% 8.6%
18th		 7.8%
Graham number (per share) $575.42 $27.85
100th		 $50.71

Profitability (TTM)

MeasureBLKIndustry medianIndustry percentileSector median
Gross margin 65.0% 71.8%
26th		 71.9%
EBITDA margin 39.5% 39.3%
51st		 37.9%
Operating margin 30.8% 30.2%
52nd		 23.3%
EBIT margin 34.6% 32.7%
53rd		 23.3%
Net margin 24.2% 15.3%
63rd		 18.7%
NOPAT margin 23.6% 23.0%
52nd		 18.7%
FCF margin 6.7% 24.3%
27th		 23.3%
Operating cash flow margin 8.6% 29.1%
23rd		 26.7%
R&D / revenue 0.0% 0.0%
0th		 0.0%
SG&A / revenue 9.9% 9.8%
50th		 20.1%
Stock comp / revenue 3.7% 0.0%
83rd		 0.7%
Effective tax rate 23.3% 19.9%
78th		 21.0%

Returns on capital

MeasureBLKIndustry medianIndustry percentileSector median
ROE (on average equity) 12.2% 11.2%
51st		 11.9%
ROA 4.1% 2.3%
61st		 1.4%
ROIC 14.3% 5.5%
75th		 7.8%
ROCE 9.9% 4.9%
72nd		 5.8%
Return on tangible assets 5.8% 4.7%
58th		 2.0%
Cash ROIC (OCF / invested capital) 5.3% 10.0%
38th		 11.4%
Gross profitability (GP / assets) 10.6% 8.8%
58th		 10.3%
ROIC, 3-yr average 14.7% 5.6%
80th		 7.1%
ROIC, 5-yr average 21.3% 6.0%
85th		 7.3%
ROE, 5-yr average 13.3% 11.2%
58th		 10.7%
Incremental ROIC 101.8% 12.9%
83rd		 8.4%

Growth

MeasureBLKIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 24.7% 15.4%
60th		 7.1%
Revenue growth (QoQ) 9.4% 6.6%
58th		 2.8%
Revenue CAGR, 3 yr 17.6% 13.1%
61st		 10.8%
Revenue CAGR, 5 yr 8.8% 5.8%
58th		 11.3%
Gross profit CAGR, 3 yr 30.0% 20.6%
70th		 18.0%
Operating income CAGR, 3 yr 12.8% 12.7%
51st		 8.8%
Net income growth (TTM YoY) 13.4% 17.8%
48th		 24.7%
Net income CAGR, 3 yr 8.7% 9.1%
48th		 9.4%
EPS growth (TTM YoY) 7.9% 14.5%
44th		 25.1%
EPS CAGR, 3 yr 5.5% 5.5%
50th		 7.3%
EPS CAGR, 5 yr 2.3% -5.9%
65th		 4.2%
FCF growth (TTM YoY) -51.1% 18.5%
13th		 15.9%
FCF CAGR, 3 yr -20.2% 8.1%
10th		 8.5%
Operating cash flow CAGR, 3 yr -15.8% 6.6%
12th		 8.4%
Book value CAGR, 3 yr 10.9% 3.6%
68th		 8.9%
Dividend CAGR, 3 yr 8.3% -1.2%
85th		 1.9%
Sustainable growth rate 4.1% 3.5%
52nd		 8.3%

Margin history & stability

MeasureBLKIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 55.4% 63.7%
28th		 63.4%
Operating margin, 3-yr average 33.3% 33.3%
49th		 21.4%
Net margin, 3-yr average 27.4% 26.3%
54th		 16.5%
FCF margin, 3-yr average 15.2% 28.9%
34th		 28.2%
Revenue stability (0-1) 0.65 0.58
54th		 0.86
Earnings stability (0-1) 0.60 0.40
70th		 0.37
Margin stability (0-1) 0.87 0.80
64th		 0.81

Liquidity (latest quarter)

MeasureBLKIndustry medianIndustry percentileSector median
Cash & short-term investments $25.6B $142.5M
95th		 $145.5M
Net cash (− = net debt) $10.7B −$692.3M
94th		 −$676.0M
Working capital $26.6B $90.6M
95th		 $86.3M
Current ratio 1.35 1.16
54th		 1.19
Quick ratio 1.35 1.16
54th		 1.19
Cash ratio (cash + ST investments / current liabilities) 0.34 0.62
39th		 0.55
Defensive interval (days) 1,159 days 365 days
85th		 417 days

Leverage & solvency (latest quarter)

MeasureBLKIndustry medianIndustry percentileSector median
Total debt $15.0B $1.3B
89th		 $1.2B
Debt / equity 0.26 0.99
17th		 0.81
Net debt / equity −0.19 0.84
12th		 0.66
Debt / assets 8.5% 37.6%
17th		 33.5%
Debt / capital 20.6% 49.7%
17th		 44.6%
Debt / EBITDA 1.33 4.80
23rd		 3.20
Net debt / EBITDA −0.95 3.41
14th		 2.19
Interest coverage (EBIT / interest) 80.9x 2.6x
93rd		 2.9x
Cash interest coverage 20.2x 3.1x
83rd		 3.7x
Debt payback (years of OCF) 6.1 yrs 3.5 yrs
69th		 3.7 yrs
Liabilities / assets 63.3% 55.3%
71st		 86.2%
IS credit model rating BBB+ — —
Implied credit spread (bps) 225 475
26th		 175

Efficiency

MeasureBLKIndustry medianIndustry percentileSector median
Asset turnover 0.17 0.12
62nd		 0.15
Fixed asset turnover 9.05 9.51
47th		 11.68
Inventory turnover —
Receivables turnover 5.6 8.4
34th		 8.2
Days sales outstanding 65 days 37 days
69th		 43 days
Days inventory outstanding —
Days payables outstanding 37 days 49 days
45th		 39 days
Cash conversion cycle (days) 29 days −8 days
72nd		 0 days
Capex / revenue 1.9% 0.0%
90th		 0.2%
Capex / depreciation 0.39 0.05
73rd		 0.13
Operating expense ratio 51.7% 43.6%
62nd		 38.9%

Cash flow & earnings quality

MeasureBLKIndustry medianIndustry percentileSector median
Operating cash flow / net income 0.36 1.20
25th		 1.28
FCF / net income 0.28 0.99
29th		 1.15
FCF / operating cash flow 77.9% 99.6%
14th		 98.5%
Capex / operating cash flow 22.1% 0.0%
89th		 0.6%
Accruals ratio 2.6% -1.4%
77th		 -2.0%
Sloan accruals ratio 1.9% -0.3%
65th		 -0.6%
Earnings quality score (0-1) 0.25 0.75
0th		 0.75

Dividends & buybacks

MeasureBLKIndustry medianIndustry percentileSector median
Dividend yield 2.0% 6.6%
22nd		 2.3%
Dividend per share (TTM) $22.40 $1.49
100th		 $1.03
Payout ratio (dividends / net income) 66.1% 67.8%
48th		 30.0%
Dividends / FCF 237.5% 52.7%
89th		 49.0%
Dividend growth (YoY) 32.2% 6.9%
88th		 6.4%
Buyback yield 1.8% 1.0%
57th		 1.7%
Shareholder yield (dividends + buybacks) 4.4% 10.3%
18th		 5.2%
Share count change (YoY) 5.0% 0.0%
76th		 -0.3%
Buybacks, last 5 years $11.9B $40.9M
99th		 $85.3M

Scores & forensic checks

MeasureBLKIndustry medianIndustry percentileSector median
IS score 39 45
37th		 53
IS profitability 69 60
65th		 59
IS growth 68 53
69th		 57
IS value 51 66
35th		 77
IS momentum 64 59
54th		 76
IS risk (safety) 30 15
61st		 65
IS quality 64 64
52nd		 71
IS balance sheet 77 42
90th		 51
IS earnings quality 51 68
36th		 74
IS cash flow 25 69
16th		 71
Piotroski F-score (0-9) 6 6
49th		 6
Altman Z-score —
Beneish M-score —
Ohlson O-score −8.37 −7.13
25th		 −6.00
IS credit score 61 41
70th		 68

Per share

MeasureBLKIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $42.02 $1.19
99th		 $3.36
Book value per share $350.23 $16.24
100th		 $28.13
Tangible book per share $12.42 $13.69
44th		 $21.49
Revenue per share $173.51 $4.23
99th		 $17.62
FCF per share $11.69 $1.85
85th		 $1.99
Operating cash flow per share $15.00 $2.62
88th		 $2.45
Cash per share $155.84 $1.06
96th		 $1.75

Size (TTM)

MeasureBLKIndustry medianIndustry percentileSector median
Market cap $175.7B $3.1B
100th		 $2.5B
Revenue $28.5B $703.1M
94th		 $1.0B
EBITDA $11.3B $205.6M
94th		 $269.3M
Net income $6.9B $151.7M
98th		 $168.0M
Free cash flow $1.9B $219.5M
89th		 $160.0M
Total assets $175.9B $2.9B
85th		 $8.5B
Shareholders' equity $57.6B $1.2B
98th		 $1.5B
Employees 24,900 1,700
93rd		 1,392

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-09-30Lemkau Gregg
Director
 Award / grant 27——311
2026-09-30Johnson Margaret L
Director
 Award / grant 33——2,067
2026-09-30Ford William E
Director
 Award / grant 34——16,743
2026-09-30Daley Pamela
Director
 Award / grant 27——6,530
2026-09-30Peck Kristin C
Director
 Award / grant 30——2,092
2026-09-30Nixon Gordon M.
Director
 Award / grant 34——5,632
2026-09-30Nasser Amin H.
Director
 Award / grant 27——1,145
2026-09-30Murphy Kathleen
Director
 Award / grant 36——810
2026-09-30Vestberg Hans Erik
Director
 Award / grant 33——2,181
2026-09-30Robbins Charles
Director
 Award / grant 27——3,148
2026-09-30Freda Fabrizio
Director
 Award / grant 18——3,822
2026-07-21Fink Laurence
Director, Chairman and CEO
 Gift 7,852——215,979

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprJunJulAugSep

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired22688—
GiftDisposed17,852—
Open-market saleDisposed1062,639$66.8M
Option exerciseAcquired118,095$9.3M
Option exerciseDisposed118,095$9.3M
—Disposed10—
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 14 notices · 187,216 shares · $206.1M
FiledFilerShares proposedEst. proceeds
2026-07-16Meade Christopher J.18,095$19.9M
2026-07-16Fink Laurence1,905$2.1M
2026-04-28Fink Laurence33,900$35.6M
2026-04-27Kapito Robert8,739$9.2M
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 21 trades (6 purchases) · Senate 2 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-08-10Ro KhannaHousePurchase$1,001 - $15,0002026-09-07
2026-07-30Rich McCormickHouseSale$1,001 - $15,0002026-08-17
2026-07-30Rich McCormickHouseSale$1,001 - $15,0002026-08-17
2026-07-14John McGuireHouseSale$1,001 - $15,0002026-08-11
2026-02-10Shelley Moore CapitoSenateSale$1,001 - $15,0002026-03-04
2026-02-10Shelley Moore CapitoSenateSale$1,001 - $15,0002026-03-04
2025-08-04Shelley Moore CapitoSenateSale (Partial)$1,001 - $15,0002025-09-03
2025-08-04Shelley Moore CapitoSenateSale$1,001 - $15,0002025-09-03
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.10,137,544$9.7B6.55%
VANGUARD CAPITAL MANAGEMENT LLC9,280,533$8.9B5.99%
STATE STREET CORP6,414,683$6.2B4.14%
Temasek Holdings5,195,165$5.0B3.35%
BANK OF AMERICA CORP /DE/4,585,356$4.4B2.96%
WELLINGTON MANAGEMENT GROUP LLP4,495,074$4.3B2.90%
Capital Research Global Investors4,458,212$4.3B2.88%
VANGUARD PORTFOLIO MANAGEMENT LLC3,628,654$3.5B2.34%
GEODE CAPITAL MANAGEMENT, LLC3,284,684$3.1B2.12%
NORGES BANK2,831,565$2.7B1.83%
WELLS FARGO & COMPANY/MN2,504,990$2.4B1.62%
Capital International Investors1,526,427$1.5B0.99%
FMR LLC1,429,854$1.4B0.92%
Fisher Asset Management, LLC1,403,263$1.3B0.91%
CHARLES SCHWAB INVESTMENT MANAGEMENT INC1,369,531$1.3B0.88%

Institutional ownership by quarter

2023-092026-0678.6%
% of shares held by 13F filers
2023-092026-062,298
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-302,29878.6%162925884126
2026-03-312,29375.9%166883923206
2025-12-312,37777.8%325894817123
2025-09-302,22674.6%194857806102
2025-06-302,17176.6%205895778136
2025-03-312,13475.8%355779741124
2024-12-311,93776.6%1,78853628
2024-09-301630.7%159201
2024-06-3050.0%1111
2024-03-3150.0%2100
2023-12-3130.0%0001
2023-09-3040.0%1010

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-04-27SCHEDULE 13GVanguard Capital Management6.9%10,700,618
2026-03-26SCHEDULE 13G/AThe Vanguard Group0.0%0
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.20%$4.7B
VTI0.20%$4.7B
VSMPX0.20%$4.7B
VTSAX0.20%$4.7B
VOO0.23%$4.0B
VFIAX0.23%$4.0B

Share structure

Shares outstanding154,869,259
Float143,766,441
Free float92.8%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$19.4B$17.9B$17.9B$20.4B$24.2B
Cost of revenue$9.6B$9.2B$9.3B$10.3B$10.8B
Gross profit$9.8B$8.7B$8.6B$10.1B$13.4B
R&D$0$0$607.0M$674.0M$189.0M
SG&A$2.2B$2.1B$2.1B$2.3B$4.7B
Operating income$7.5B$6.4B$6.3B$7.6B$7.0B
EBITDA$7.9B$6.9B$6.8B$8.2B$8.5B
Pretax income$8.2B$6.3B$7.2B$8.3B$7.6B
Income tax$2.0B$1.3B$1.5B$1.8B$1.7B
Net income$5.9B$5.2B$5.5B$6.4B$5.6B
EPS, diluted$38.22$33.97$36.51$42.01$35.42
Diluted shares154.4M152.4M150.7M151.6M165.4M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$9.3B$8.7B$10.6B$14.6B$11.5B
Receivables$3.8B$3.6B$4.1B$4.4B$5.2B
Inventory$0$0$0$0$0
Total current assets$20.2B$18.2B$19.4B$25.2B$16.6B
PP&E, net$2.4B$2.5B$2.5B$2.6B$3.1B
Goodwill & intangibles$33.8B$33.6B$33.8B$46.7B$63.3B
Total assets$152.6B$117.6B$123.2B$138.6B$170.0B
Accounts payable$1.2B$1.2B$1.2B$1.4B$0
Total current liabilities$1.4B$1.3B$1.2B$11.5B$237.0M
Long-term debt$7.4B$6.7B$7.9B$11.6B$12.8B
Total liabilities$113.8B$78.8B$82.0B$89.3B$108.5B
Shareholders' equity$38.9B$38.8B$41.2B$49.4B$61.5B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income$5.9B$5.2B$5.5B$6.4B$5.6B
Depreciation & amortization$415.0M$418.0M$427.0M$529.0M$1.1B
Stock-based compensation$734.0M$708.0M$630.0M$753.0M$0
Change in working capital−$7.0M−$1.1B−$418.0M$118.0M−$382.0M
Operating cash flow$4.9B$5.0B$4.2B$5.0B$4.1B
Capital expenditure−$341.0M−$533.0M−$344.0M−$255.0M−$375.0M
Free cash flow$4.6B$4.4B$3.8B$4.7B$3.7B
Investing cash flow−$1.9B−$1.1B−$959.0M−$3.0B−$4.6B
Net debt issued / repaid$273.0M−$776.0M$1.2B$4.4B$172.0M
Buybacks−$1.5B−$2.3B−$1.9B−$1.9B−$2.0B
Dividends paid−$2.5B−$3.0B−$3.0B−$3.1B−$3.3B

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin50.7%49.2%48.1%49.4%50.5%
Operating margin38.5%35.7%35.1%37.1%29.1%
Net margin30.5%29.0%30.8%31.2%22.9%
FCF margin23.8%24.7%21.4%23.9%14.7%
ROE16.2%13.7%14.3%14.7%10.7%
ROIC15.0%13.5%12.9%12.6%9.2%
ROA3.6%3.8%4.6%4.9%3.6%
Debt / equity0.250.220.250.300.27
Interest coverage36.5x30.6x21.7x14.3x10.7x
Current ratio14.4514.0815.632.1970.15
Revenue growth+19.6%−7.7%−0.1%+14.3%+18.7%
EPS growth+19.6%−10.3%+7.4%+10.7%−17.2%
P/E at year end21.8x19.3x21.2x24.8x31.9x
EV / EBITDA at year end16.3x14.5x17.1x19.2x20.2x
FCF yield at year end3.58%4.42%3.27%3.09%2.01%
Dividend payout43.2%57.7%55.2%48.7%60.3%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Investment Advice$15.3B$14.5B$14.4B$16.1B$19.2B
Technology Service$1.3B$1.4B$1.5B$1.6B—
Distribution And Shareholder Service$1.5B$1.4B$1.3B——
Investment Performance$1.1B$514.0M$554.0M$1.2B$1.4B
Distribution and Shareholder Service———$1.3B$1.4B
Service, Other———$224.0M$277.0M

Revenue by region · FY2025

Americas$16.0B · 66%
Europe$7.2B · 30%
Asia Pacific$1.1B · 5%

Street estimates by fiscal year

Next report 2027-01-21 · consensus EPS $15.43 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$29.5B$26.9B – $30.4B$57.34$56.10 – $59.37819.8x
2027$32.6B$29.9B – $34.5B$64.82$63.53 – $67.871017.5x
2028$36.7B$31.7B – $39.0B$74.37$70.50 – $78.24215.3x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-10-14$14.32$15.93+11.2%$7.4B$7.8B+4.5%
2026-04-14$11.65$12.53+7.6%$6.6B$6.7B+2.2%
2026-01-15$12.24$13.16+7.5%$6.8B$7.0B+3.7%
2025-10-14$11.36$11.55+1.7%$6.3B$6.5B+2.8%
2025-07-15$10.78$12.05+11.8%$5.5B$5.4B−0.5%
2025-04-11$10.08$11.30+12.1%$5.3B$5.3B−0.3%
2024-10-11$10.33$11.46+10.9%$5.0B$5.2B+3.2%
2024-07-15$9.93$10.36+4.3%$4.8B$4.8B−0.9%
2024-04-12$9.35$9.81+4.9%$4.7B$4.7B+1.5%
2023-10-13$8.26$10.91+32.1%$4.5B$4.5B+0.3%
2023-07-14$8.46$9.28+9.7%$4.5B$4.5B−0.1%
2023-04-14$7.76$7.93+2.2%$4.4B$4.2B−3.9%
2022-10-13$7.07$9.55+35.1%$4.2B$4.3B+2.7%
2022-07-15$7.90$7.36−6.8%$4.6B$4.5B−0.6%
2022-04-13$8.75$9.52+8.8%$4.7B$4.7B+0.6%
2021-10-13$9.35$10.95+17.1%$4.9B$5.0B+3.5%
2021-07-14$9.46$10.03+6.0%$4.6B$4.8B+4.9%
2021-04-15$7.64$7.77+1.7%$4.3B$4.4B+2.9%
2020-10-13$7.80$9.22+18.2%$3.7B$4.4B+18.2%
2020-07-17$6.99$7.85+12.3%$3.2B$3.6B+12.3%
2020-04-16$6.36$6.60+3.8%$3.6B$3.7B+3.8%
2019-10-15$6.96$7.15+2.7%$3.6B$3.7B+2.7%
2019-07-19$6.50$6.41−1.4%$3.6B$3.5B−1.4%
2019-04-16$6.13$6.61+7.8%$3.1B$3.3B+7.8%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.706-152.106-220.906-291.007-061.607-131.307-201.307-270.808-030.508-100.508-170.708-240.808-31
Week ofNotionalSharesTrades
2026-08-31$775.8M686,52635,656
2026-08-24$679.3M579,39529,880
2026-08-17$493.5M426,49128,925
2026-08-10$512.0M442,51232,569
2026-08-03$829.6M735,37842,354
2026-07-27$1.3B1,212,39456,784

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1555.1%
DateShort shareShort volumeTotal volume
2026-10-1555.1%254,271461,235
2026-10-1446.0%219,622477,175
2026-10-1364.2%180,291280,768
2026-10-1249.7%77,294155,489
2026-10-0940.4%78,164193,623
2026-10-0840.7%80,298197,162
2026-10-0750.5%77,392153,165
2026-10-0652.0%97,387187,322
2026-10-0536.5%81,465223,323
2026-10-0244.4%69,725157,194
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
-0.1Jan-1.9Feb+2.8Mar+0.0Apr+1.6May-0.7Jun+3.5Jul-0.6Aug+0.9Sep+3.5Oct+4.1Nov+3.9Dec
MonthAvg returnUp yearsYears
Jan−0.1%55%20
Feb−1.9%45%20
Mar+2.8%62%21
Apr+0.0%55%20
May+1.6%70%20
Jun−0.7%60%20
Jul+3.5%60%20
Aug−0.6%50%20
Sep+0.9%55%20
Oct+3.5%70%20
Nov+4.1%70%20
Dec+3.9%85%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1463.6
MFI65.9
ADX16.4
Stochastic %K / %D77.4 / 67.8
Williams %R-14.2
CCI346
TSI / signal3.2 / -6.8
Chaikin money flow0.05
ATR$26.63
Bollinger width7.1%
Volume vs 20-day avg1.69x
SupertrendUp

Moving averages and bands

level (price vs level)
SMA 20$1,077.04 (+5.3%)
SMA 50$1,105.23 (+2.6%)
SMA 200$1,060.37 (+7.0%)
EMA 21$1,084.70 (+4.6%)
EMA 50$1,086.02 (+4.5%)
EMA 200$1,066.64 (+6.4%)
Bollinger upper$1,115.07 (+1.7%)
Bollinger lower$1,039.01 (+9.2%)
Parabolic SAR$1,049.81 (+8.1%)
Open the live chart, 110+ indicators

About BlackRock, Inc.

BlackRock, Inc. is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks. It also provides global risk management and advisory services. The firm manages separate client-focused equity, fixed income, and balanced portfolios. It also launches and manages open-end and closed-end mutual funds, offshore funds, unit trusts, and alternative investment vehicles including structured funds. The firm launches equity, fixed income, balanced, and real estate mutual funds. It also launches equity, fixed income, balanced, currency, commodity, and multi-asset exchange traded funds. The firm also launches and manages hedge funds. It invests in the public equity, fixed income, real estate, currency, commodity, and alternative markets across the globe. The firm primarily invests in growth and value stocks of small-cap, mid-cap, SMID-cap, large-cap, and multi-cap companies. It also invests in dividend-paying equity securities. The firm invests in investment grade municipal securities, government securities including securities issued or guaranteed by a government or a government agency or instrumentality, corporate bonds, and asset-backed and mortgage-backed securities. It employs fundamental and quantitative analysis with a focus on bottom-up and top-down approach to make its investments. The firm employs liquidity, asset allocation, balanced, real estate, and alternative strategies to make its investments. In real estate sector, it seeks to invest in Poland and Germany. The firm benchmarks the performance of its portfolios against various S&P, Russell, Barclays, MSCI, Citigroup, and Merrill Lynch indices. BlackRock, Inc. was founded in 1988 and is based in New York, New York with additional offices in Atlanta, Georgia; Boston, Massachusetts; Chicago, Illinois; Dallas, Texas; Denver, Colorado; Greenwich, Connecticut; Houston, Texas; Miami, Florida; Newport Beach, California; Palo Alto, California; Philadelphia, Pennsylvania; Princeton, New Jersey; San Francisco, California; Santa Monica, California; Seattle, Washington; Washington, DC; West Palm Beach, Florida; Wilmington, Delaware; Mexico; Canada; South Africa; Netherlands; Greece; Serbia; Belgium; Hungary; Denmark; Ireland; Scotland; Germany; Switzerland; England; Luxembourg; Spain; Italy; France; Sweden; Austria; India; China; Australia; Hong Kong; South Korea; Singapore; Taiwan; Japan; Colombia; Argentina; Peru; Chile; Brazil; UAE; Saudi Arabia; Israel.

https://www.blackrock.com

Key executives

NameTitlePayBorn
Laurence Douglas FinkFounder, Chief Executive Officer & Chairman$13.1M1952
Robert Steven KapitoPresident & Member of Board of Directors$8.6M1956
Robert Lawrence GoldsteinSenior MD & Chief Operating Officer$5.8M1974
Martin SmallSenior MD, Chief Financial Officer & Global Head of Corporate Strategy$5.8M1976
J. Richard KushelSenior MD & Head of the Portfolio Management Group$4.2M1967
Rich KushelSenior MD & Head of the Portfolio Management Group$4.2M—
Adebayo O. OgunlesiChairman & CEO Global Infrastructure Partners, Senior MD & Member of Board of Director$4.0M1954
Bryan SmithManaging Director——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Laurence D. Fink Chairman and Chief Executive Officer2025$1.5M$24.6M$0$37.7M
Robert S. Kapito President2025$1.2M$17.1M$0$25.7M
Robert L. Goldstein Senior Managing Director and Chief Operating Officer2025$750,000$9.7M$0$15.6M
Martin S. Small Senior Managing Director, Chief Financial Officer and Global Head of Corporate Strategy2025$750,000$7.9M$0$13.6M
J. Richard Kushel Senior Managing Director and Head of the Portfolio Management Group2025$750,000$6.8M$0$11.0M

Employees

21k202425k2025

Dividends

Ex-dateAmountPaid
2026-09-08$5.732026-09-22
2026-06-05$5.732026-06-23
2026-03-06$5.732026-03-24
2025-12-05$5.212025-12-23
2025-09-05$5.212025-09-23
2025-06-05$5.212025-06-23
2025-03-07$5.212025-03-24
2024-12-05$5.12024-12-23

Moat model

Weak · Efficient Scale · 2026-09-30
Cost advantage30
Intangibles36
Switching costs12
Network effect60
Efficient scale95
Our component scores (0-100) and overall 41.3; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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