BlackRock, Inc. (BLK) 10-Year Financial Performance & Capital Metrics

BLK • • Banking & Credit

Financial ServicesAsset ManagementTraditional Asset ManagementGlobal Diversified Asset Managers

AboutBlackRock, 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 City with additional offices in Boston, Massachusetts; London, United Kingdom; Gurgaon, India; Hong Kong; Greenwich, Connecticut; Princeton, New Jersey; Edinburgh, United Kingdom; Sydney, Australia; Taipei, Taiwan; Singapore; Sao Paulo, Brazil; Philadelphia, Pennsylvania; Washington, District of Columbia; Toronto, Canada; Wilmington, Delaware; and San Francisco, California.Show more

Net Interest Income $229M +26.5%
Total Revenue $20.41B +14.3%
Net Income $6.37B +15.8%
Return on Equity 14.06% +2.3%
Net Interest Margin 0.17% +12.5%
Efficiency Ratio 12.31% -4.7%
ROA 4.87% +6.5%
Equity / Assets 35.61% +6.4%
Book Value per Share 325.56 +19.0%
Tangible BV/Share 17.57 -64.5%
Debt/Equity 0.29 +22.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 12.3% efficiency ratio
✓15 consecutive years of dividend growth
✓Well capitalized: 35.6% equity/assets
✓Diversified revenue: 96.2% from non-interest income

✗Weaknesses

✗Weak NIM of 0.2%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y6.3%

5Y7.02%

3Y1.75%

TTM-

Profit (Net Income) CAGR

10Y6.82%

5Y7.31%

3Y2.58%

TTM0.36%

EPS CAGR

10Y8.16%

5Y8.12%

3Y3.2%

TTM-4%

ROCE

10Y Avg3.68%

5Y Avg4.8%

3Y Avg5.37%

Latest6.08%

Peer Comparison

Global Diversified Asset Managers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
SIISprott Inc.	2.97B	115.19	60.31	19.02%	29.28%	14.59%	2.27%
EMBJEmbraer S.A.	13.36B	73.93	38.51	21.38%	5.51%	10.43%	3.03%	0.78
BENFranklin Resources, Inc.	13.54B	25.97	28.54	3.45%	5.98%	3.61%	6.73%	0.94
BLKBlackRock, Inc.	179.4B	1156.65	27.53	14.27%	31.21%	9.86%	2.62%	0.29
IVZInvesco Ltd.	13.08B	29.39	24.91	6.13%	12.77%	6.75%	8.57%	0.48
SEICSEI Investments Company	10.6B	86.54	19.62	10.7%	27.35%	28.87%	5.34%	0.01
JHGJanus Henderson Group plc	7.15B	47.89	18.71	17.67%	16.53%	9.41%	9.57%	0.10
STTState Street Corporation	38.07B	136.29	16.60	19.64%	12.23%	10.78%		1.45

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	-178M	-165M	-156M	-80M	-106M	-143M	-118M	-60M	181M	229M
NII Growth %	0.12%	0.07%	0.05%	0.49%	-0.33%	-0.35%	0.17%	0.49%	4.02%	0.27%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	26M	40M	49M	104M	97M	62M	87M	152M	473M	767M
Interest Expense	204M	205M	205M	184M	203M	205M	205M	212M	292M	538M
Loan Loss Provision	5.03B	6.04B	6.61B	6.81B	6.93B	7.73B	9.35B	8.98B	8.98B	9.78B
Non-Interest Income+	11.38B	11.12B	13.55B	14.09B	14.44B	16.14B	19.29B	17.72B	17.39B	19.64B
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	11.4B	11.15B	13.6B	14.2B	14.54B	16.2B	19.37B	17.87B	17.86B	20.41B
Revenue Growth %	0.03%	-0.02%	0.22%	0.04%	0.02%	0.11%	0.2%	-0.08%	-0%	0.14%
Non-Interest Expense	1.51B	1.45B	1.53B	1.75B	1.85B	2.57B	2.37B	2.3B	2.31B	2.51B
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	4.66B	4.57B	5.25B	5.46B	5.55B	5.7B	7.45B	6.38B	6.28B	7.57B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.04%	-0.02%	0.15%	0.04%	0.02%	0.03%	0.31%	-0.14%	-0.02%	0.21%
Pretax Income+	4.6B	4.46B	5.26B	5.38B	5.79B	6.52B	8.17B	6.29B	7.16B	8.29B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	1.25B	1.29B	270M	1.08B	1.26B	1.24B	1.97B	1.3B	1.48B	1.78B
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	3.35B	3.17B	4.95B	4.3B	4.48B	4.93B	5.9B	5.18B	5.5B	6.37B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.02%	-0.05%	0.56%	-0.13%	0.04%	0.1%	0.2%	-0.12%	0.06%	0.16%
Net Income (Continuing)	3.35B	3.17B	4.99B	4.3B	4.53B	5.29B	6.21B	4.99B	5.68B	6.51B
EPS (Diluted)+	19.71	18.94	30.00	26.48	28.43	31.85	38.22	33.97	36.51	42.01
EPS Growth %	0.03%	-0.04%	0.58%	-0.12%	0.07%	0.12%	0.2%	-0.11%	0.07%	0.15%
EPS (Basic)	20.02	19.19	30.42	26.75	28.69	32.13	38.76	34.31	36.85	42.45
Diluted Shares Outstanding	169.72M	167.25M	165.08M	162.6M	157.46M	154.84M	154.4M	152.44M	150.71M	151.6M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	6.23B	6.17B	7.04B	6.49B	4.83B	8.66B	9.32B	7.42B	8.74B	12.76B
Short Term Investments	0	0	0	0	0	0	0	1000K	1000K	1000K
Total Investments+	1.58B	1.59B	1.98B	4.48B	5.49B	6.92B	7.26B	7.02B	9.44B	9.53B
Investments Growth %	-0.18%	0.01%	0.24%	1.26%	0.23%	0.26%	0.05%	-0.03%	0.34%	0.01%
Long-Term Investments	1.58B	1.59B	1.98B	4.48B	5.49B	6.92B	7.26B	5.69B	7.57B	7.71B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	13.12B	13.12B	13.22B	13.53B	14.56B	14.55B	15.35B	15.34B	15.52B	25.95B
Intangible Assets	17.37B	17.36B	17.39B	17.84B	18.37B	18.26B	18.45B	18.3B	18.26B	20.74B
PP&E (Net)	581M	559M	592M	643M	715M	1.33B	2.38B	2.55B	2.53B	2.62B
Other Assets	151.77B	150.45B	151.64B	93.29B	106.01B	107.21B	89.01B	57.53B	59.95B	56.41B
Total Current Assets	40.83B	37.09B	35.42B	29.8B	23.47B	28.71B	20.19B	18.22B	19.38B	25.19B
Total Non-Current Assets	184.43B	183.09B	184.82B	129.77B	145.15B	148.28B	132.46B	99.41B	103.83B	113.43B
Total Assets+	225.26B	220.18B	220.22B	159.57B	168.62B	176.98B	152.65B	117.63B	123.21B	138.62B
Asset Growth %	-0.06%	-0.02%	0%	-0.28%	0.06%	0.05%	-0.14%	-0.23%	0.05%	0.13%
Return on Assets (ROA)	0.01%	0.01%	0.02%	0.02%	0.03%	0.03%	0.04%	0.04%	0.05%	0.05%
Accounts Payable	1.07B	880M	1.16B	1.29B	1.17B	897M	1.21B	1.2B	1.16B	1.4B
Total Debt+	4.93B	4.92B	5.01B	4.98B	4.96B	8.02B	9.32B	8.49B	9.7B	14.22B
Net Debt	-1.3B	-1.26B	-2.02B	-1.51B	126M	-645M	-5M	1.07B	966M	1.46B
Long-Term Debt	4.93B	4.92B	5.01B	4.98B	4.96B	7.26B	7.45B	6.65B	7.92B	11.59B
Short-Term Debt	0	0	0	0	0	0	0	0	0	725M
Other Liabilities	185.37B	180.2B	178.28B	116.19B	123.84B	126.61B	100.28B	65.68B	67.52B	64.44B
Total Current Liabilities	1.07B	880M	1.16B	1.29B	1.17B	1.03B	1.4B	1.29B	1.24B	11.52B
Total Non-Current Liabilities	195.15B	189.95B	186.82B	124.74B	132.53B	138.3B	112.36B	77.55B	80.73B	77.74B
Total Liabilities	196.22B	190.83B	187.93B	126.03B	133.69B	139.33B	113.75B	78.84B	81.97B	89.26B
Total Equity+	29.04B	29.34B	32.29B	33.54B	34.93B	37.66B	38.89B	38.78B	41.24B	49.35B
Equity Growth %	0.06%	0.01%	0.1%	0.04%	0.04%	0.08%	0.03%	-0%	0.06%	0.2%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.12%	0.11%	0.16%	0.13%	0.13%	0.14%	0.15%	0.13%	0.14%	0.14%
Book Value per Share	171.13	175.45	195.61	206.27	221.83	243.19	251.89	254.43	273.64	325.56
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	2M	2M	2M	2M	2M	2M	2M	2M	2M	2M
Additional Paid-in Capital	19.41B	19.34B	19.26B	19.17B	19.19B	19.29B	19.64B	19.77B	19.83B	13.45B
Retained Earnings	12.03B	13.66B	16.97B	19.28B	21.66B	24.33B	27.69B	29.88B	32.34B	35.61B
Accumulated OCI	-448M	-716M	-432M	-691M	-571M	-337M	-550M	-1.1B	-840M	-1.18B
Treasury Stock	-2.49B	-3.19B	-3.97B	-5.39B	-6.73B	-8.01B	-9.09B	-10.8B	-11.99B	-386M
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	3B	2.15B	3.83B	3.08B	2.88B	3.74B	4.94B	4.96B	4.17B	4.96B
Operating CF Growth %	-0.02%	-0.28%	0.78%	-0.2%	-0.06%	0.3%	0.32%	0%	-0.16%	0.19%
Net Income	3.35B	3.17B	5.01B	4.3B	4.53B	5.29B	5.9B	5.18B	5.5B	6.37B
Depreciation & Amortization	247M	229M	240M	220M	405M	358M	415M	418M	427M	529M
Deferred Taxes	-156M	-14M	-1.22B	-226M	17M	-157M	-865M	0	0	-106M
Other Non-Cash Items	-411M	-999M	-588M	-1.63B	-2.02B	-2.38B	-1.23B	-255M	-1.98B	-2.71B
Working Capital Changes	-542M	-753M	-152M	-158M	-608M	9M	-7M	-1.09B	-418M	118M
Cash from Investing+	-465M	-188M	-587M	-808M	-2.01B	-254M	-1.94B	-1.13B	-959M	-3B
Purchase of Investments	-493M	-451M	-528M	-378M	-803M	-430M	-1.01B	-1.1B	-872M	-945M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	-273M	-30M	-102M	-699M	-1.51B	0	-1.11B	0	-189M	-2.94B
Other Investing	66M	34M	32M	24M	136M	183M	95M	70M	46M	308M
Cash from Financing+	-2.06B	-1.69B	-2.63B	-2.77B	-2.58B	244M	-2.29B	-5.44B	-1.99B	2.24B
Dividends Paid	-1.48B	-1.54B	-1.66B	-1.97B	-2.1B	-2.26B	-2.55B	-2.99B	-3.04B	-3.1B
Share Repurchases	-1.33B	-1.4B	-1.42B	-2.09B	-1.91B	-1.81B	-1.49B	-2.33B	-1.88B	-1.93B
Stock Issued	0	0	0	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	0	-1000K	1000K	1000K	1000K	1000K	-1000K	1000K	1000K
Other Financing	706M	1.26B	456M	1.25B	1.32B	2.02B	1.47B	656M	1.75B	2.85B
Net Change in Cash+	360M	8M	803M	-591M	-1.66B	3.83B	659M	-1.91B	1.32B	4.03B
Exchange Rate Effect	-1000K	-1000K	1000K	-1000K	1000K	1000K	-1000K	-1000K	1000K	-1000K
Cash at Beginning	5.72B	6.08B	6.09B	7.1B	6.5B	4.85B	8.68B	9.34B	7.42B	8.75B
Cash at End	6.08B	6.09B	6.89B	6.5B	4.85B	8.68B	9.34B	7.43B	8.74B	12.78B
Interest Paid	194M	198M	205M	177M	193M	183M	189M	177M	200M	289M
Income Taxes Paid	1.28B	1.36B	1.12B	1.16B	1.17B	1.31B	2.72B	1.07B	1.39B	1.7B
Free Cash Flow+	2.78B	2.04B	3.67B	2.87B	2.63B	3.55B	4.6B	4.42B	3.82B	4.7B
FCF Growth %	-0.08%	-0.27%	0.8%	-0.22%	-0.08%	0.35%	0.3%	-0.04%	-0.14%	0.23%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	11.83%	10.87%	16.07%	13.08%	13.07%	13.59%	15.42%	13.33%	13.75%	14.06%
Return on Assets (ROA)	1.44%	1.42%	2.25%	2.27%	2.73%	2.85%	3.58%	3.83%	4.57%	4.87%
Net Interest Margin	-0.08%	-0.07%	-0.07%	-0.05%	-0.06%	-0.08%	-0.08%	-0.05%	0.15%	0.17%
Efficiency Ratio	13.23%	13.03%	11.29%	12.31%	12.76%	15.87%	12.22%	12.86%	12.92%	12.31%
Equity / Assets	12.89%	13.33%	14.66%	21.02%	20.71%	21.28%	25.48%	32.97%	33.47%	35.61%
Book Value / Share	171.13	175.45	195.61	206.27	221.83	243.19	251.89	254.43	273.64	325.56
NII Growth	12.32%	7.3%	5.45%	48.72%	-32.5%	-34.91%	17.48%	49.15%	401.67%	26.52%
Dividend Payout	44.13%	48.71%	33.56%	45.71%	46.83%	45.82%	43.16%	57.74%	55.16%	48.69%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Investment Advice	-	-	-	11.55B	11.78B	12.64B	15.26B	14.45B	14.4B	16.1B
Investment Advice Growth	-	-	-	-	1.94%	7.32%	20.74%	-5.30%	-0.36%	11.81%
Technology Service	-	-	-	785M	974M	1.14B	1.28B	1.36B	1.49B	1.6B
Technology Service Growth	-	-	-	-	24.08%	16.94%	12.47%	6.48%	8.87%	7.95%
Distribution and Shareholder Service	-	-	-	-	-	-	-	-	-	1.27B
Distribution and Shareholder Service Growth	-	-	-	-	-	-	-	-	-	-
Investment Performance	-	-	-	412M	450M	1.1B	1.14B	514M	554M	1.21B
Investment Performance Growth	-	-	-	-	9.22%	145.33%	3.53%	-55.03%	7.78%	117.87%
Service, Other	-	-	-	-	-	-	-	-	-	224M
Service, Other Growth	-	-	-	-	-	-	-	-	-	-
Distribution And Shareholder Service	-	-	-	1.16B	1.07B	1.13B	1.52B	1.38B	1.26B	-
Distribution And Shareholder Service Growth	-	-	-	-	-7.45%	5.80%	34.48%	-9.20%	-8.62%	-
Service Other	-	-	-	293M	-	-	-	-	-	-
Service Other Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Americas	7.5B	7.53B	8.41B	9.3B	9.7B	10.59B	12.4B	11.93B	11.9B	13.41B
Americas Growth	-	0.37%	11.63%	10.67%	4.30%	9.17%	17.05%	-3.77%	-0.27%	12.71%
Europe	3.36B	3.08B	3.43B	4.22B	4.16B	4.94B	6.11B	5.16B	5.21B	6.14B
Europe Growth	-	-8.13%	11.32%	22.87%	-1.40%	18.81%	23.58%	-15.41%	0.87%	17.82%
Asia Pacific	543M	542M	653M	678M	678M	672M	870M	778M	751M	859M
Asia Pacific Growth	-	-0.18%	20.48%	3.83%	0.00%	-0.88%	29.46%	-10.57%	-3.47%	14.38%

Frequently Asked Questions

Valuation & Price

BlackRock, Inc. (BLK) has a price-to-earnings (P/E) ratio of 27.5x. This suggests investors expect higher future growth.

Growth & Financials

BlackRock, Inc. (BLK) grew revenue by 14.3% over the past year. This is steady growth.

Yes, BlackRock, Inc. (BLK) is profitable, generating $6.10B in net income for fiscal year 2024 (31.2% net margin).

Dividend & Returns

Yes, BlackRock, Inc. (BLK) pays a dividend with a yield of 1.77%. This makes it attractive for income-focused investors.

BlackRock, Inc. (BLK) has a return on equity (ROE) of 14.1%. This is reasonable for most industries.

Industry Metrics

BlackRock, Inc. (BLK) has a net interest margin (NIM) of 0.2%. NIM has been under pressure due to interest rate environment.

BlackRock, Inc. (BLK) has an efficiency ratio of 12.3%. This is excellent, indicating strong cost control.

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