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BlackRock, Inc.

BLKNYSE

$1,130.00

Last price · USD

Market cap
$181.8B
P/E
32.0x
EV / EBITDA
22.9x
P/S
7.5x
FCF yield
2.0%
Div. yield
1.84%

Multiples use last price and FY2025 annual figures. Market cap estimated from diluted shares.

OverviewBusinessFinancialsPeersChartsValuation

Revenue

$24.22B

+18.7%

4Y CAGR +5.7%

Gross profit

$11.31B

+12.1%

4Y CAGR +3.6%

Operating income

$7.04B

-7.0%

4Y CAGR -1.4%

Net income

$5.55B

-12.8%

4Y CAGR -1.5%

EPS (diluted)

$35.31

-15.9%

4Y CAGR -2.0%

Free cash flow

$3.55B

-24.4%

4Y CAGR -6.3%

Revenue & net income

Fiscal 2021–2025 · USD

All charts
$24B$19B$15B$10B$5B$0M$19.37B$17.87B$17.86B$20.41B$24.22B20212022202320242025
RevenueNet income

Valuation

At $1,130.00 · FY2025 fundamentals

Market cap
$181.8B
Enterprise value
$185.3B
P/E
32.0x
P/S
7.5x
P/B
3.3x
EV / EBITDA
22.9x
EV / Sales
7.7x
Earnings yield
3.1%
FCF yield
2.0%
Shareholder yield
2.9%
Estimate intrinsic value with a DCF

Profitability

Margins as a share of revenue

MetricLatest4Y agoTrend
Gross margin46.7%-4.0pp50.7%
Operating margin29.1%-9.4pp38.5%
EBITDA margin33.5%-7.3pp40.8%
Net margin22.9%-7.5pp30.5%
FCF margin14.7%-9.1pp23.8%

Returns & financial health

FY2025 with 4-year trend

MetricLatest4Y agoTrend
Return on equity9.9%15.7%
Return on invested capital9.2%15.0%
Return on assets3.3%3.9%
Debt / equity0.27x0.25x
Net debt / EBITDA0.44x-0.00x
Current ratio15.76x14.45x

Cash & equivalents

$11.47B

Total debt

$15.00B

Capital allocation

How BLK used its cash in FY2025

Operating cash flow
$3.93B
Capital expenditure
$375M
Dividends paid
$3.35B
Share repurchases
$1.95B
Stock-based compensation
$1.31B
Diluted shares
160.9M
Share count change (4Y)
+4.2%

Analyst estimates

Consensus for upcoming fiscal years

Fiscal yearRevenueGrowthEPSGrowth
FY2025 actual$24.22B$35.31
FY2026E8 analysts$29.49B+21.8%$57.66+63.3%
FY2027E9 analysts$32.62B+10.6%$65.10+12.9%
FY2028E2 analysts$36.72B+12.6%$74.93+15.1%

About BlackRock, Inc.

Financial Services · Asset Management

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.

blackrock.com
Sector
Financial Services
Industry
Asset Management
CEO
Laurence Douglas Fink
Employees
24,900
Headquarters
New York City, NY, US
IPO date
1999-10-01

BlackRock, Inc. (BLK) — frequently asked questions

Answered from the company's SEC filings

BlackRock, Inc. is a publicly owned investment manager.

BlackRock, Inc. reported revenue of $24.22B in fiscal 2025, up 18.7% from the prior year. Over the last 4 years, revenue has grown at 5.7% a year.

Yes. BlackRock, Inc. earned net income of $5.55B in fiscal 2025, a net margin of 22.9%, and generated $3.55B of free cash flow.

At a share price of $1130.00, BLK trades at about 32.0x its fiscal 2025 earnings per share, with a market capitalization of roughly $181.8B. Its EV/EBITDA multiple is 22.9x.

Yes. BlackRock, Inc. paid $3.35B in dividends to shareholders in fiscal 2025, a dividend yield of about 1.84% at today's price.

BlackRock, Inc. had total debt of $15.00B and cash of $11.47B at the end of fiscal 2025, giving net debt of 0.4x EBITDA.

BlackRock, Inc.'s return on invested capital was 9.2% in fiscal 2025, and its return on equity was 9.9%.

Explore the full income statement, balance sheet and cash flow statement. Not investment advice.