BlackRock, Inc.(BLK)Earnings, Financials & Key Ratios

BLK•NYSE•Banking & Credit

29.6× P/E·Price updated Jun 19, 2026

SectorFinancial Services IndustryAsset Management Sub-IndustryIndex, ETF and passive 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-$21M-109.2%
Total Revenue$24.22B+18.7%
Net Income$5.55B-12.8%
Return on Equity10.01%-28.8%
Net Interest Margin-0.01%-107.5%
Efficiency Ratio26.43%+114.7%
ROA3.6%-26.0%
Equity / Assets36.2%+1.7%
Book Value per Share372.08+14.3%

BLK Key Insights

BlackRock, Inc. (BLK) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

✓Efficient operations: 26.4% efficiency ratio
✓16 consecutive years of dividend growth
✓Well capitalized: 36.2% equity/assets
✓Diversified revenue: 97.2% from non-interest income

✗Weaknesses

✗Weak NIM of -0.0%

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

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BLK Price & Volume

BlackRock, Inc. (BLK) stock price & volume — 10-year historical chart

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BLK Growth Metrics

BlackRock, Inc. (BLK) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years7.82%

5 Years8.37%

3 Years10.65%

TTM-

Profit CAGR

10 Years5.2%

5 Years2.4%

3 Years2.36%

TTM-12.81%

EPS CAGR

10 Years6.04%

5 Years2.15%

3 Years1.4%

TTM-15.69%

Return on Capital

10 Years3.91%

5 Years5.01%

3 Years5.24%

Last Year4.59%

BLK Recent Earnings

BlackRock, Inc. (BLK) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 9/12 qtrs (90%)●Beat Revenue 6/12 qtrs (67%)

Q2 2026Latest

Apr 14, 2026

Metric

Actual

Est

EPS

$12.53+7.6%

$11.65

Rev

$6.7B+2.3%

$6.6B

Q1 2026

Jan 21, 2026

Metric

Actual

Est

EPS

$11.93-4.9%

$12.55

Rev

$7.0B

—

Q1 2026

Jan 15, 2026

Metric

Actual

Est

EPS

$13.16+7.5%

$12.24

Rev

$7.0B+3.7%

$6.8B

Q4 2025

Oct 14, 2025

Metric

Actual

Est

EPS

$11.55+1.7%

$11.36

Rev

$6.5B+2.8%

$6.3B

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q2 2026Latest	Apr 14, 2026	$12.53vs $11.65+7.6%	$6.7Bvs $6.6B+2.3%
Q1 2026	Jan 21, 2026	$11.93vs $12.55-4.9%	$7.0B
Q1 2026	Jan 15, 2026	$13.16vs $12.24+7.5%	$7.0Bvs $6.8B+3.7%
Q4 2025	Oct 14, 2025	$11.55vs $11.36+1.7%	$6.5Bvs $6.3B+2.8%

Based on last 12 quarters of dataView full earnings history →

Company	Market Cap	Stock Price	P/E Ratio (TTM)	Revenue Growth 1Y	Net Margin	Return on Equity (ROE)	Debt / Equity
STTState Street CorporationDirect Competitor	48.64B	168.31	17.91	2.98%	13.01%	10.76%	1.07
BENFranklin Resources, Inc.Direct Competitor	17.17B	33.05	36.32	3.45%	8.99%	5.64%	0.94
IVZInvesco Ltd.Direct Competitor	12.5B	28.14	-17.58	5.11%	-3.69%	-1.74%	0.78
AMGAffiliated Managers Group, Inc.Direct Competitor	9.42B	352.90	15.52	19.83%	30.92%	16.01%	0.61
TROWT. Rowe Price Group, Inc.Direct Competitor	23.43B	107.65	11.64	3.12%	28.28%	17.56%	0.07
MSMorgan StanleyProduct Competitor	355.51B	223.17	21.88	11.48%	14.66%	15.3%	4.22
GSThe Goldman Sachs Group, Inc.Product Competitor	348.27B	1096.56	21.37	-1.38%	13.73%	13.58%	4.88
BAMBrookfield Asset Management Ltd.Product Competitor	77.71B	47.44	30.61	23.15%	49.64%	23.23%	0.35

Compare BLK vs Peers

BlackRock, Inc. (BLK) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs STT

Most directly comparable listed peer for BLK.

Scale Benchmark

vs MS

Larger-name benchmark to compare BLK against a more recognizable public peer.

Peer Set

Compare Top 5

vs STT, BEN, IVZ, AMG

BLK Income Statement

BlackRock, Inc. (BLK) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily

Metric	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Net Interest Income	-156M	-80M	-106M	-143M	-118M	-60M	181M	229M	-21M
NII Growth %	5.45%	48.72%	-32.5%	-34.91%	17.48%	49.15%	401.67%	26.52%	-109.17%
Net Interest Margin %	-0.07%	-0.05%	-0.06%	-0.08%	-0.08%	-0.05%	0.15%	0.17%	-0.01%
Interest Income	49M	104M	97M	62M	87M	152M	473M	767M	685M
Interest Expense	205M	184M	203M	205M	205M	212M	292M	538M	706M
Loan Loss Provision	6.61B	6.81B	6.93B	7.73B	9.35B	8.98B	8.98B	9.78B	10.06B
Non-Interest Income	13.55B	14.09B	14.44B	16.14B	19.29B	17.72B	17.39B	19.64B	23.53B
Non-Interest Income %	99.64%	99.27%	99.33%	99.62%	99.55%	99.15%	97.35%	96.24%	97.17%
Total Revenue	13.6B▲ 0%	14.2B▲ 4.4%	14.54B▲ 2.4%	16.2B▲ 11.5%	19.37B▲ 19.6%	17.87B▼ 7.7%	17.86B▼ 0.1%	20.41B▲ 14.3%	24.22B▲ 18.7%
Revenue Growth %	10.92%	4.4%	2.4%	11.46%	19.56%	-7.75%	-0.08%	14.27%	18.67%
Non-Interest Expense	1.53B	1.75B	1.85B	2.57B	2.37B	2.3B	2.31B	2.51B	6.4B
Efficiency Ratio	11.29%	12.31%	12.76%	15.87%	12.22%	12.86%	12.92%	12.31%	26.43%
Operating Income	5.25B▲ 0%	5.46B▲ 3.9%	5.55B▲ 1.7%	5.7B▲ 2.6%	7.45B▲ 30.8%	6.38B▼ 14.3%	6.28B▼ 1.7%	7.57B▲ 20.7%	7.04B▼ 7.0%
Operating Margin %	38.63%	38.43%	38.18%	35.14%	38.45%	35.72%	35.14%	37.11%	29.09%
Operating Income Growth %	14.97%	3.86%	1.72%	2.59%	30.82%	-14.3%	-1.72%	20.7%	-6.98%
Pretax Income	5.26B▲ 0%	5.38B▲ 2.3%	5.79B▲ 7.6%	6.52B▲ 12.7%	8.17B▲ 25.3%	6.29B▼ 23.0%	7.16B▲ 13.8%	8.29B▲ 15.9%	7.62B▼ 8.1%
Pretax Margin %	38.67%	37.88%	39.8%	40.26%	42.19%	35.19%	40.06%	40.65%	31.46%
Income Tax	270M	1.08B	1.26B	1.24B	1.97B	1.3B	1.48B	1.78B	1.68B
Effective Tax Rate %	5.13%	20.01%	21.79%	18.98%	24.08%	20.6%	20.67%	21.49%	22.01%
Net Income	4.95B▲ 0%	4.3B▼ 13.1%	4.48B▲ 4.0%	4.93B▲ 10.2%	5.9B▲ 19.6%	5.18B▼ 12.3%	5.5B▲ 6.3%	6.37B▲ 15.8%	5.55B▼ 12.8%
Net Margin %	36.41%	30.32%	30.79%	30.44%	30.46%	28.97%	30.81%	31.21%	22.93%
Net Income Growth %	56.12%	-13.07%	3.97%	10.19%	19.65%	-12.25%	6.26%	15.76%	-12.81%
Net Income (Continuing)	4.99B	4.3B	4.53B	5.29B	6.21B	4.99B	5.68B	6.51B	5.94B
EPS (Diluted)	30.00▲ 0%	26.48▼ 11.7%	28.43▲ 7.4%	31.85▲ 12.0%	38.22▲ 20.0%	33.97▼ 11.1%	36.51▲ 7.5%	42.01▲ 15.1%	35.42▼ 15.7%
EPS Growth %	58.39%	-11.73%	7.36%	12.03%	20%	-11.12%	7.48%	15.06%	-15.69%
EPS (Basic)	30.42	26.75	28.69	32.13	38.76	34.31	36.85	42.45	35.84
Diluted Shares Outstanding	165.08M	162.6M	157.46M	154.84M	154.4M	152.44M	150.71M	151.6M	165.4M

BLK Balance Sheet

BlackRock, Inc. (BLK) balance sheet — assets, liabilities & shareholders' equity

Metric	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Cash & Short Term Investments	7.04B	6.49B	4.83B	8.66B	9.32B	8.75B	10.61B	14.59B	11.47B
Cash & Due from Banks	7.04B	6.49B	4.83B	8.66B	9.32B	7.42B	8.74B	12.76B	11.47B
Short Term Investments	0	0	0	0	0	1.33B	1.87B	1.82B	0
Total Investments	1.98B	4.48B	5.49B	6.92B	7.26B	7.02B	9.44B	9.53B	11.08B
Investments Growth %	24.2%	125.95%	22.63%	26.05%	4.96%	-3.32%	34.5%	0.93%	16.29%
Long-Term Investments	1.98B	4.48B	5.49B	6.92B	7.26B	5.69B	7.57B	7.71B	11.08B
Accounts Receivables	2.7B	2.66B	3.18B	3.54B	3.79B	3.26B	3.92B	4.3B	5.16B
Goodwill & Intangibles	30.61B	31.36B	32.93B	32.81B	33.8B	33.64B	33.78B	46.69B	63.25B
Goodwill	13.22B	13.53B	14.56B	14.55B	15.35B	15.34B	15.52B	25.95B	35.28B
Intangible Assets	17.39B	17.84B	18.37B	18.26B	18.45B	18.3B	18.26B	20.74B	27.97B
PP&E (Net)	592M	643M	715M	1.33B	2.38B	2.55B	2.53B	2.62B	3.13B
Other Assets	151.64B	93.29B	106.01B	107.21B	89.01B	57.53B	59.95B	56.41B	-11.08B
Total Current Assets	35.42B	29.8B	23.47B	28.71B	20.19B	18.22B	19.38B	25.19B	16.63B
Total Non-Current Assets	184.82B	129.77B	145.15B	148.28B	132.46B	99.41B	103.83B	113.43B	66.38B
Total Assets	220.22B▲ 0%	159.57B▼ 27.5%	168.62B▲ 5.7%	176.98B▲ 5.0%	152.65B▼ 13.7%	117.63B▼ 22.9%	123.21B▲ 4.7%	138.62B▲ 12.5%	170B▲ 22.6%
Asset Growth %	0.02%	-27.54%	5.67%	4.96%	-13.75%	-22.94%	4.75%	12.5%	22.64%
Return on Assets (ROA)	2.25%	2.27%	2.73%	2.85%	3.58%	3.83%	4.57%	4.87%	3.6%
Accounts Payable	1.16B	1.29B	1.17B	897M	1.21B	1.2B	1.16B	0	0
Total Debt	5.01B	4.98B	4.96B	8.02B	9.32B	8.49B	9.7B	14.22B	15B
Net Debt	-2.02B	-1.51B	126M	-645M	-5M	1.07B	966M	1.46B	3.53B
Long-Term Debt	5.01B	4.98B	4.96B	7.26B	7.45B	6.65B	7.92B	12.31B	12.77B
Short-Term Debt	0	0	0	0	14M	0	0	0	237M
Other Liabilities	178.28B	116.19B	123.84B	126.61B	100.28B	65.68B	67.52B	70.17B	88.58B
Total Current Liabilities	1.16B	1.29B	1.17B	1.03B	1.4B	1.29B	1.24B	1.54B	237M
Total Non-Current Liabilities	186.82B	124.74B	132.53B	138.3B	112.36B	77.55B	80.73B	87.72B	108.22B
Total Liabilities	187.93B	126.03B	133.69B	139.33B	113.75B	78.84B	81.97B	89.26B	108.46B
Total Equity	32.29B▲ 0%	33.54B▲ 3.9%	34.93B▲ 4.1%	37.66B▲ 7.8%	38.89B▲ 3.3%	38.78B▼ 0.3%	41.24B▲ 6.3%	49.35B▲ 19.7%	61.54B▲ 24.7%
Equity Growth %	10.04%	3.87%	4.14%	7.81%	3.28%	-0.28%	6.33%	19.68%	24.69%
Equity / Assets (Capital Ratio)	14.66%	21.02%	20.71%	21.28%	25.48%	32.97%	33.47%	35.61%	36.2%
Return on Equity (ROE)	16.07%	13.08%	13.07%	13.59%	15.42%	13.33%	13.75%	14.06%	10.01%
Book Value per Share	195.61	206.27	221.83	243.19	251.89	254.43	273.64	325.56	372.08
Tangible BV per Share	10.19	13.38	12.69	31.27	32.96	33.73	49.49	17.57	-10.33
Common Stock	2M	2M	2M	2M	2M	2M	2M	2M	2M
Additional Paid-in Capital	19.26B	19.17B	19.19B	19.29B	19.64B	19.77B	19.83B	13.45B	19.75B
Retained Earnings	16.97B	19.28B	21.66B	24.33B	27.69B	29.88B	32.34B	35.61B	37.9B
Accumulated OCI	-432M	-691M	-571M	-337M	-550M	-1.1B	-840M	-1.18B	-545M
Treasury Stock	-3.97B	-5.39B	-6.73B	-8.01B	-9.09B	-10.8B	-11.99B	-386M	-1.22B
Preferred Stock	0	0	0	0	0	0	0	0	0

BLK Cash Flow Statement

BlackRock, Inc. (BLK) cash flow — operating, investing & free cash flow history

Metric	Dec'17	Dec'18	Dec'19	Dec'20	Dec'21	Dec'22	Dec'23	Dec'24	Dec'25
Cash from Operations	3.83B	3.08B	2.88B	3.74B	4.94B	4.96B	4.17B	4.96B	4.12B
Operating CF Growth %	77.72%	-19.67%	-6.21%	29.79%	32.09%	0.24%	-15.96%	18.99%	-16.79%
Net Income	5.01B	4.3B	4.53B	5.29B	6.21B	4.99B	5.68B	6.51B	5.55B
Depreciation & Amortization	240M	220M	405M	358M	415M	418M	427M	529M	1.13B
Deferred Taxes	-1.22B	-226M	17M	-157M	-865M	602M	124M	-106M	0
Other Non-Cash Items	-588M	-1.63B	-2.02B	-2.54B	-2.2B	-869M	-2.35B	-2.91B	-2.17B
Working Capital Changes	-152M	-158M	-608M	169M	658M	-897M	-346M	176M	-382M
Cash from Investing	-587M	-808M	-2.01B	-254M	-1.94B	-1.13B	-959M	-3B	-4.62B
Purchase of Investments	-528M	-378M	-803M	-430M	-1.01B	-909M	-872M	-945M	-1.48B
Sale/Maturity of Investments	166M	449M	417M	187M	429M	242M	400M	766M	737M
Net Investment Activity	-362M	71M	-386M	-243M	-585M	-667M	-472M	-179M	-744M
Acquisitions	-102M	-699M	-1.51B	0	-1.11B	0	-189M	-2.94B	-3.5B
Other Investing	32M	24M	136M	183M	95M	70M	46M	366M	0
Cash from Financing	-2.63B	-2.77B	-2.58B	244M	-2.29B	-5.44B	-1.99B	2.24B	-1.13B
Dividends Paid	-1.66B	-1.97B	-2.1B	-2.26B	-2.55B	-2.99B	-3.04B	-3.1B	-3.35B
Share Repurchases	-1.42B	-2.09B	-1.91B	-1.81B	-1.49B	-2.33B	-1.88B	-1.93B	-1.95B
Stock Issued	0	0	0	0	0	0	0	0	167M
Net Stock Activity	-1.42B	-2.09B	-1.91B	-1.81B	-1.49B	-2.33B	-1.88B	-1.93B	-1.78B
Debt Issuance (Net)	-1000K	1000K	1000K	1000K	1000K	-1000K	1000K	1000K	1000K
Other Financing	456M	1.25B	1.32B	2.02B	1.47B	656M	1.75B	2.85B	3.83B
Net Change in Cash	803M▲ 0%	-591M▼ 173.6%	-1.66B▼ 180.7%	3.83B▲ 331.2%	659M▼ 82.8%	-1.91B▼ 389.4%	1.32B▲ 169.2%	4.03B▲ 205.0%	-1.29B▼ 132.1%
Exchange Rate Effect	192M	-93M	54M	102M	-61M	-291M	106M	-162M	324M
Cash at Beginning	6.09B	7.1B	6.5B	4.85B	8.68B	9.34B	7.43B	8.75B	12.76B
Cash at End	6.89B	6.5B	4.85B	8.68B	9.34B	7.43B	8.75B	12.78B	11.47B
Interest Paid	205M	177M	193M	183M	189M	177M	200M	289M	0
Income Taxes Paid	1.12B	1.16B	1.17B	1.31B	2.72B	1.07B	1.39B	1.7B	0
Free Cash Flow	3.67B▲ 0%	2.87B▼ 21.8%	2.63B▼ 8.4%	3.55B▲ 34.9%	4.6B▲ 29.7%	4.42B▼ 3.9%	3.82B▼ 13.6%	4.7B▲ 23.0%	3.75B▼ 20.3%
FCF Growth %	80.49%	-21.83%	-8.39%	34.94%	29.7%	-3.91%	-13.61%	23.03%	-20.25%

BLK Banking Ratios

BlackRock, Inc. (BLK) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	10.87%	16.07%	13.08%	13.07%	13.59%	15.42%	13.33%	13.75%	14.06%	10.01%
Return on Assets (ROA)	1.42%	2.25%	2.27%	2.73%	2.85%	3.58%	3.83%	4.57%	4.87%	3.6%
Net Interest Margin	-0.07%	-0.07%	-0.05%	-0.06%	-0.08%	-0.08%	-0.05%	0.15%	0.17%	-0.01%
Efficiency Ratio	11.85%	11.29%	12.31%	12.76%	15.87%	12.22%	12.86%	12.92%	12.31%	26.43%
Equity / Assets	13.33%	14.66%	21.02%	20.71%	21.28%	25.48%	32.97%	33.47%	35.61%	36.2%
Book Value / Share	175.45	195.61	206.27	221.83	243.19	251.89	254.43	273.64	325.56	372.08
NII Growth	7.3%	5.45%	48.72%	-32.5%	-34.91%	17.48%	49.15%	401.67%	26.52%	-109.17%
Dividend Payout	48.71%	33.56%	45.71%	46.83%	45.82%	43.16%	57.74%	55.16%	48.69%	60.27%

BLK SEC Filings & Documents

BlackRock, Inc. (BLK) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Apr 14, 2026·SEC

Material company update

Apr 3, 2026·SEC

Material company update

Jan 27, 2026·SEC

10-K Annual Reports

FY 2026

Feb 25, 2026·SEC

BLK Frequently Asked Questions

BlackRock, Inc. (BLK) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

BlackRock, Inc. (BLK) grew revenue by 18.7% over the past year. This is strong growth.

Yes, BlackRock, Inc. (BLK) is profitable, generating $5.55B in net income for fiscal year 2025 (22.9% net margin).

Dividend & Returns

Yes, BlackRock, Inc. (BLK) pays a dividend with a yield of 1.93%. This makes it attractive for income-focused investors.

BlackRock, Inc. (BLK) has a return on equity (ROE) of 10.0%. This is reasonable for most industries.

Industry Metrics

BlackRock, Inc. (BLK) has a net interest margin (NIM) of -0.0%. NIM has been under pressure due to interest rate environment.

BlackRock, Inc. (BLK) has an efficiency ratio of 26.4%. This is excellent, indicating strong cost control.

What if you invested $1,000 in BLK back in 1998?

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BlackRock, Inc.(BLK)Earnings, Financials & Key Ratios

BLK•NYSE•Banking & Credit

29.6× P/E·Price updated Jun 19, 2026

SectorFinancial Services IndustryAsset Management Sub-IndustryIndex, ETF and passive managers

Net Interest Income-$21M-109.2%
Total Revenue$24.22B+18.7%
Net Income$5.55B-12.8%
Return on Equity10.01%-28.8%
Net Interest Margin-0.01%-107.5%
Efficiency Ratio26.43%+114.7%
ROA3.6%-26.0%
Equity / Assets36.2%+1.7%
Book Value per Share372.08+14.3%