BlackRock, Inc. (BLK) Financial Ratios
28 years of historical data (1998–2025) · Financial Services · Asset Management
EV/EBITDA
↑
20.90
+10% vs avg
5yr avg: 19.04
30Y Low6.9·High24.2
P/FCF
↑
44.37
↑+30% vs avg
5yr avg: 34.01
30Y Low9.6·High60.1
P/B Ratio
↓
2.73
↓-11% vs avg
5yr avg: 3.08
30Y Low1.1·High7.8
ROE
↓
10.0%
↑-25% vs avg
5yr avg: 13.3%
30Y Low5%·High34%
Debt/EBITDA
↑
1.95
↑+28% vs avg
5yr avg: 1.52
30Y Low0.0·High4.1
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
BLK Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
BlackRock, Inc. trades at 28.7x earnings, 18% above its 5-year average of 24.3x, sitting at the 74th percentile of its historical range. Compared to the Financial Services sector median P/E of 13.9x, the stock trades at a premium of 107%. On a free-cash-flow basis, the stock trades at 44.4x P/FCF, 30% above the 5-year average of 34.0x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $157.6B | $177.0B | $155.4B | $122.3B | $108.0B | $141.4B | $111.7B | $79.2B | $63.9B | $84.8B | $63.6B |
| Enterprise Value | $161.1B | $180.6B | $156.9B | $123.3B | $109.1B | $141.4B | $111.1B | $79.3B | $62.4B | $82.8B | $62.4B |
| P/E Ratio → | 28.67 | 30.22 | 24.40 | 22.24 | 20.86 | 23.95 | 22.65 | 17.68 | 14.83 | 17.12 | 20.09 |
| P/S Ratio | 6.51 | 7.31 | 7.62 | 6.85 | 6.04 | 7.30 | 6.89 | 5.44 | 4.50 | 6.24 | 5.19 |
| P/B Ratio | 2.73 | 2.88 | 3.15 | 2.97 | 2.79 | 3.63 | 2.97 | 2.27 | 1.90 | 2.63 | 2.17 |
| P/FCF | 44.37 | 49.84 | 33.06 | 32.02 | 24.42 | 30.71 | 31.48 | 30.10 | 22.25 | 23.09 | 31.28 |
| P/OCF | 40.14 | 45.08 | 31.36 | 29.37 | 21.80 | 28.59 | 29.85 | 27.45 | 20.77 | 22.15 | 29.55 |
P/E links to full P/E history page with 30-year chart
BLK EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
BlackRock, Inc.'s enterprise value stands at 20.9x EBITDA, 10% above its 5-year average of 19.0x. The Financial Services sector median is 11.1x, placing the stock at a 88% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 7.46 | 7.69 | 6.90 | 6.10 | 7.30 | 6.85 | 5.45 | 4.39 | 6.09 | 5.09 |
| EV / EBITDA | 20.90 | 23.42 | 19.36 | 18.40 | 16.04 | 17.97 | 18.35 | 13.56 | 10.99 | 15.07 | 12.91 |
| EV / EBIT | 22.87 | 23.12 | 20.43 | 19.43 | 16.84 | 18.89 | 19.43 | 14.15 | 11.17 | 15.73 | 13.45 |
| EV / FCF | — | 50.83 | 33.37 | 32.27 | 24.67 | 30.71 | 31.30 | 30.14 | 21.72 | 22.54 | 30.66 |
BLK Profitability
Margins and return-on-capital ratios measuring operating efficiency
BlackRock, Inc. earns an operating margin of 29.1%, above the Financial Services sector average of 20.0%. Operating margins have compressed from 35.1% to 29.1% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 10.0% is modest. ROIC of 7.5% represents adequate returns on invested capital versus a sector median of 5.3%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 55.5% | 55.5% | 49.4% | 48.1% | 48.6% | 50.7% | 51.0% | 50.9% | 50.7% | 49.9% | 49.1% |
| Operating Margin | 29.1% | 29.1% | 37.1% | 35.1% | 35.7% | 38.5% | 35.1% | 38.2% | 38.4% | 38.6% | 37.3% |
| Net Profit Margin | 22.9% | 22.9% | 31.2% | 30.8% | 29.0% | 30.5% | 30.4% | 30.8% | 30.3% | 36.4% | 25.9% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 10.0% | 10.0% | 14.1% | 13.8% | 13.3% | 15.4% | 13.6% | 13.1% | 13.1% | 16.1% | 10.9% |
| ROA | 3.6% | 3.6% | 4.9% | 4.6% | 3.8% | 3.6% | 2.9% | 2.7% | 2.3% | 2.2% | 1.4% |
| ROIC | 7.5% | 7.5% | 9.9% | 9.6% | 10.0% | 11.9% | 10.0% | 10.6% | 10.8% | 11.0% | 10.0% |
| ROCE | 4.6% | 4.6% | 5.8% | 5.3% | 4.8% | 4.6% | 3.3% | 3.4% | 2.9% | 2.4% | 2.1% |
BLK Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
BlackRock, Inc. carries a Debt/EBITDA ratio of 1.9x, which is manageable (54% below the sector average of 4.2x). Net debt stands at $3.5B ($15.0B total debt minus $11.5B cash). Interest coverage of 11.1x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.24 | 0.24 | 0.29 | 0.24 | 0.22 | 0.24 | 0.21 | 0.14 | 0.15 | 0.16 | 0.17 |
| Debt / EBITDA | 1.95 | 1.95 | 1.76 | 1.45 | 1.25 | 1.18 | 1.32 | 0.85 | 0.88 | 0.91 | 1.02 |
| Net Debt / Equity | — | 0.06 | 0.03 | 0.02 | 0.03 | -0.00 | -0.02 | 0.00 | -0.04 | -0.06 | -0.04 |
| Net Debt / EBITDA | 0.46 | 0.46 | 0.18 | 0.14 | 0.16 | -0.00 | -0.11 | 0.02 | -0.27 | -0.37 | -0.26 |
| Debt / FCF | — | 0.99 | 0.31 | 0.25 | 0.24 | -0.00 | -0.18 | 0.05 | -0.53 | -0.55 | -0.62 |
| Interest Coverage | 11.06 | 11.06 | 14.27 | 21.73 | 30.56 | 36.51 | 27.89 | 27.61 | 30.34 | 25.67 | 22.63 |
BLK Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
BlackRock, Inc.'s current ratio of 15.76x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 15.63x to 15.76x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 15.76 | 15.76 | 16.40 | 15.63 | 14.08 | 14.45 | 27.92 | 20.11 | 23.07 | 30.51 | 42.15 |
| Quick Ratio | 15.76 | 15.76 | 16.40 | 15.63 | 14.08 | 14.45 | 27.92 | 20.11 | 23.07 | 30.51 | 42.15 |
| Cash Ratio | 6.59 | 6.59 | 8.31 | 7.05 | 5.73 | 6.67 | 8.43 | 4.14 | 5.02 | 6.06 | 7.02 |
| Asset Turnover | — | 0.14 | 0.15 | 0.14 | 0.15 | 0.13 | 0.09 | 0.09 | 0.09 | 0.06 | 0.06 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
BLK Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
BlackRock, Inc. returns 3.2% to shareholders annually — split between a 2.0% dividend yield and 1.2% buyback yield. A payout ratio of 60.3% is moderate and appears sustainable, balancing shareholder returns with reinvestment capacity. The earnings yield of 3.5% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.0% | 1.9% | 2.0% | 2.5% | 2.8% | 1.8% | 2.0% | 2.6% | 3.1% | 2.0% | 2.4% |
| Payout Ratio | 60.3% | 60.3% | 48.7% | 55.2% | 57.7% | 43.2% | 45.8% | 46.8% | 45.7% | 33.6% | 48.7% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.5% | 3.3% | 4.1% | 4.5% | 4.8% | 4.2% | 4.4% | 5.7% | 6.7% | 5.8% | 5.0% |
| FCF Yield | 2.3% | 2.0% | 3.0% | 3.1% | 4.1% | 3.3% | 3.2% | 3.3% | 4.5% | 4.3% | 3.2% |
| Buyback Yield | 1.2% | 1.1% | 1.2% | 1.5% | 2.2% | 1.1% | 1.6% | 2.4% | 3.3% | 1.7% | 2.2% |
| Total Shareholder Yield | 3.2% | 3.0% | 3.2% | 4.0% | 4.9% | 2.9% | 3.6% | 5.1% | 6.3% | 3.6% | 4.6% |
| Shares Outstanding | — | $165M | $152M | $151M | $152M | $154M | $155M | $157M | $163M | $165M | $167M |
Peer Comparison
Compare BLK with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 BLKYou | $158B | 28.7 | 20.9 | 44.4 | 55.5% | 29.1% | 10.0% | 7.5% | 1.9 |
 STT | $48B | 18.5 | -12.5 | 11.2 | 61.4% | 16.5% | 11.1% | 4.7% | 7.0 |
 BEN | $18B | 37.1 | 24.0 | 19.3 | 80.3% | 6.9% | 3.7% | 1.6% | 11.7 |
 IVZ | $12B | -16.9 | 16.4 | 8.3 | 43.2% | -10.9% | -2.0% | -2.3% | 8.2 |
 AMG | $9B | 15.4 | 12.0 | 9.2 | 86.0% | 31.8% | 15.8% | 8.1% | 2.8 |
 TROW | $23B | 11.5 | 7.8 | 15.6 | 62.7% | 29.9% | 17.8% | 13.3% | 0.3 |
 MS | $357B | 22.2 | 27.1 | 7.7 | 57.1% | 19.1% | 15.5% | 3.1% | 17.9 |
 GS | $337B | 21.3 | 32.6 | — | 47.5% | 17.5% | 13.9% | 2.2% | 25.4 |
 BAM | $77B | 30.3 | 27.3 | — | 93.2% | 57.6% | 37.3% | 24.3% | 1.3 |
 APO | $75B | 18.0 | 6.1 | 10.1 | 88.5% | 34.4% | 12.2% | 16.0% | 1.2 |
 KKR | $84B | 40.0 | 19.5 | 8.8 | 41.8% | 2.4% | 3.3% | 0.3% | 7.7 |
| Financial Services Median | — | 13.9 | 11.1 | 11.2 | 64.0% | 20.0% | 8.9% | 5.3% | 4.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 28 years · Updated daily
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BLK — Frequently Asked Questions
Quick answers to the most common questions about buying BLK stock.
What is BlackRock, Inc.'s P/E ratio?
BlackRock, Inc.'s current P/E ratio is 28.7x. The historical average is 23.3x. This places it at the 74th percentile of its historical range.
What is BlackRock, Inc.'s EV/EBITDA?
BlackRock, Inc.'s current EV/EBITDA is 20.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 14.8x.
What is BlackRock, Inc.'s ROE?
BlackRock, Inc.'s return on equity (ROE) is 10.0%. The historical average is 15.3%.
Is BLK stock overvalued?
Based on historical data, BlackRock, Inc. is trading at a P/E of 28.7x. This is at the 74th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is BlackRock, Inc.'s dividend yield?
BlackRock, Inc.'s current dividend yield is 1.99% with a payout ratio of 60.3%.
What are BlackRock, Inc.'s profit margins?
BlackRock, Inc. has 55.5% gross margin and 29.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does BlackRock, Inc. have?
BlackRock, Inc.'s Debt/EBITDA ratio is 1.9x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.