Loading…
World's largest asset manager, running index and active funds including the iShares ETF franchise.
World's largest asset manager, running index and active funds including the iShares ETF franchise.
Earns fees as a percentage of assets managed, so revenue follows market levels and asset flows; passive iShares funds carry low fees, and active and private-market funds carry higher ones. It sells its Aladdin software to other institutions on subscription, and bought Global Infrastructure Partners and credit manager HPS to push into private markets.
Moat: wide (scale, brand, network effects). Massive scale in ETFs (iShares) plus the widely embedded Aladdin risk platform create dual, reinforcing moats.
Headquarters: New York, New York, US · Founded: 1988 · Employees: 24,900
Size BlackRock (BLK) is a United States Financials company (Investment Managers) with a market value of $192B, the 61st largest of 3,117 United States companies the cockpit tracks. Shares closed at $1,179 on 6 Nov 2026.
Performance Over six months the shares gained 9.3%, against -5.7% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd highest of 8 in its peer set.
Growth Revenue grew 24.2% over the last twelve months (peer median +10.8%); the operating margin is 35.9% (peer median 24.9%).
Valuation It trades at 18.9× forward earnings against a peer median of 13.5× (2nd most expensive of 8).
Credit BlackRock has 14 bonds outstanding ($13.1B), rated AA- by the agencies and trading like AA at a weighted spread of 63 bp.
Short interest Short interest is 1.4% of the free float (15 Oct 2026).
Next results Next results expected around 21 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $29.2B | $24.9B | $20.9B | $18.7B | $17.6B |
| Revenue growth | — | +19% | +12% | +6% | — |
| Gross profit | $24.0B | $19.1B | $16.3B | $14.5B | $13.6B |
| EBITDA | n/a | $9.68B | $8.65B | $7.47B | $7.02B |
| Net income | $6.91B | $5.55B | $6.37B | $5.50B | $5.18B |
| Free cash flow | n/a | $3.75B | $5.01B | $3.79B | $4.30B |
| Capital expenditure | n/a | $375M | $255M | $344M | $533M |
| Total debt | n/a | $15.0B | $14.2B | $9.70B | $8.49B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| BlackRock BLK | $192B | +9% | +24% | 36% | 18.9× | n/a |
| State Street STT | $45.0B | +11% | +2% | 33% | 11.1× | n/a |
| Invesco IVZ | $11.9B | -1% | +17% | 24% | 8.6× | n/a |
| Amundi AMUN.PA | $21.7B | +9% | +1% | 23% | 11.9× | n/a |
| Franklin Resources BEN | $17.1B | +10% | +8% | 15% | 10.6× | n/a |
| T. Rowe Price TROW | $23.1B | +4% | +7% | 36% | 10.8× | n/a |
| DWS Group GmbH & Co. KGaA DWS.DE | $14.7B | +7% | +24% | 37% | 12.6× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | BLK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +10.7% | +6.0% | 3rd highest of 8 |
| 6-month return | +9.3% | -5.7% | 2nd highest of 8 |
| Distance from 52-week high | -5.1% | -21.7% | highest of 8 |
| Revenue growth (TTM) | +24.2% | +10.8% | 3rd highest of 8 |
| Operating margin | 35.9% | 24.9% | 3rd highest of 8 |
| Forward P/E | 18.9× | 13.5× | 2nd most expensive of 8 |
| Bond spread | 63 bp | 106 bp | tightest of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| BlackRock BLK | United States | $192B | +9% | +24% | 36% | 18.9× | n/a | n/a |
| Blackstone BX | United States | $149B | -3% | +9% | 57% | 18.1× | n/a | n/a |
| UBS UBSG.SW | Switzerland | $148B | +13% | -5% | 23% | 13.2× | n/a | n/a |
| Morgan Stanley MS | United States | $285B | -6% | +16% | 33% | 13.6× | n/a | n/a |
| Brookfield BN.TO | Canada | $102B | -8% | +1% | 25% | 13.5× | n/a | n/a |
| Brookfield Asset Management BAM | United States | $86.7B | +6% | +120% | 62% | 26.6× | n/a | n/a |
| KKR & KKR | United States | $86.6B | -6% | +32% | 23% | 11.4× | n/a | n/a |
| Apollo Global Management APO | United States | $68.9B | -12% | +11% | 11% | 11.5× | n/a | n/a |
BlackRock has 14 bonds outstanding with $13.1B face value. The agencies rate it AA-; its bonds trade like AA. Weighted yield 5.26%, a spread of 63 bp over government bonds.