BlackRock (BLK) AI Stock Analysis

• Market Cap: $182.99B
• Dividend Yield: 1.92%
• Average Volume (3M): 599.84K
• Price to Earnings (P/E): 31.8
• Beta (1Y): 1.06
• Revenue Growth: 15.79%
• EPS Growth: -3.85%
• Country: US
• Employees: 22,600
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): 13.16
• Shares Outstanding: 155,150,910
• 10 Day Avg. Volume: 788,524
• 30 Day Avg. Volume: 599,840
• PEG Ratio: 1.59
• Price to Book (P/B): 3.24
• Price to Sales (P/S): 7.54
• P/FCF Ratio: 32.72
• Enterprise Value/Market Cap: 0.98
• Enterprise Value/Revenue: 7.81
• Enterprise Value/Gross Profit: 15.12
• Enterprise Value/Ebitda: 19.64
• 1Y Price Target: $1,354.30
• Price Target Upside: 20.09% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 10
• EPS Forecast (FY): 54.35
• Revenue Forecast (FY): $28.43B

• Rating: 78 Outperform
• Price Target: $1,279.00 ▲(13.41% Upside)

BLK scores well primarily on strong financial performance and a notably upbeat earnings call featuring record inflows, strong growth, and increased shareholder returns. Technicals are supportive but not powerful, while valuation (P/E ~32) and expense/margin pressures keep the overall score below the highest tier.

Positive Factors

Scale and market leadership (AUM & net inflows)

Massive scale and sustained net inflows underpin durable fee generation and distribution advantages. $698B of inflows and $14T AUM strengthen client stickiness, cross-sell into higher‑margin products, and create pricing and platform leadership that supports revenue resilience over years.

Technology and data platform growth (Aladdin/ACV)

Rapid, recurring technology and data revenue diversifies income away from pure asset fees. Strong ACV growth indicates sticky, contractually recurring streams that are higher margin and cross‑sellable to institutional clients, improving long‑term revenue stability and margin mix.

Strong cash generation and conservative balance sheet

Very low leverage and high cash conversion provide financial flexibility for buybacks, M&A, and investing in technology/private markets. Strong OCF and FCF ratios reduce refinancing risk and support sustained shareholder returns and strategic investments over multi‑year horizons.

Negative Factors

Institutional index outflows and fee pressure

Large institutional index outflows reflect secular competition in ultra‑low fee passive products. Persistent migration can reduce fee yield and AUM mix, pressuring long‑run revenue per asset unless offset by growth in higher‑fee active, private, or tech offerings.

Rising expenses and compensation growth

Sustained expense and compensation growth can erode operating leverage. If higher incentive pay and integration costs persist, margin expansion from higher recurring fees may be offset, making long‑term margin trajectory dependent on disciplined cost control and realized synergies.

Private credit/BDC normalization risk and flow volatility

Normalization of private credit defaults and BDC redemptions increases performance and liquidity risk in alternatives. This can dampen fundraising, reduce fee generation in private markets, and increase provisioning or reputation risk, challenging growth targets tied to private assets.

BlackRock Business Overview & Revenue Model

Company Description

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. 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.

How the Company Makes Money

BlackRock generates revenue primarily through its asset management fees, which are charged as a percentage of assets under management (AUM). The company earns management fees from a variety of investment products, including mutual funds, exchange-traded funds (ETFs), and separate accounts. Additionally, BlackRock earns performance fees based on the investment performance of certain funds. The firm has a significant revenue stream from its iShares ETFs, which have become one of the leading ETF providers globally. Aside from management and performance fees, BlackRock also generates revenue from technology services provided through its Aladdin platform, which is used by other financial institutions for risk management and investment analysis. Strategic partnerships with various financial institutions and a strong global distribution network further contribute to BlackRock's earnings.

BlackRock Financial Statement Overview

Summary

Strong profitability (gross margin consistently >50%, net margin ~30%) and positive TTM revenue growth (6.08%). Low leverage (debt-to-equity 0.041) supports resilience, and cash conversion is strong (operating cash flow to net income 1.87; FCF to net income 0.92). Offsets include slight EBIT margin pressure and a decline in operating cash flow versus prior periods.

Income Statement

BlackRock's income statement shows strong profitability with a consistent gross profit margin above 50% and a net profit margin around 30%. The company has demonstrated a solid revenue growth rate of 6.08% in the TTM, indicating a positive trajectory. However, the EBIT margin has slightly decreased from previous years, suggesting some pressure on operational efficiency.

Balance Sheet

The balance sheet reflects a robust financial position with a low debt-to-equity ratio of 0.041 in the TTM, indicating minimal leverage risk. The return on equity is healthy at 13.12%, showcasing effective use of shareholder funds. However, the equity ratio is not explicitly provided, which limits a full assessment of asset financing.

Cash Flow

Cash flow analysis reveals strong free cash flow growth of 1.26% in the TTM, and a high operating cash flow to net income ratio of 1.87, indicating efficient cash generation relative to earnings. The free cash flow to net income ratio is also robust at 0.92, reflecting solid cash conversion. However, the operating cash flow has decreased compared to previous periods, which could be a concern if the trend continues.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	22.89B	20.41B	17.86B	17.87B	19.37B	16.20B
Gross Profit	11.82B	10.09B	8.58B	8.68B	9.82B	8.27B
EBITDA	9.10B	8.21B	6.77B	6.90B	7.90B	6.08B
Net Income	6.10B	6.37B	5.50B	5.18B	5.90B	4.93B
Balance Sheet
Total Assets	162.68B	138.62B	123.21B	117.63B	152.65B	176.98B
Cash, Cash Equivalents and Short-Term Investments	12.60B	14.59B	10.61B	8.75B	9.32B	8.66B
Total Debt	15.04B	14.22B	9.70B	8.49B	9.32B	8.02B
Total Liabilities	100.83B	89.26B	81.97B	78.84B	113.75B	139.33B
Stockholders Equity	55.52B	47.49B	39.35B	37.74B	37.69B	35.28B
Cash Flow
Free Cash Flow	3.93B	4.70B	3.82B	4.42B	4.60B	3.55B
Operating Cash Flow	4.27B	4.96B	4.17B	4.96B	4.94B	3.74B
Investing Cash Flow	-7.28B	-3.00B	-959.00M	-1.13B	-1.94B	-254.00M
Financing Cash Flow	-1.12B	2.24B	-1.99B	-5.44B	-2.29B	244.00M

BlackRock Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1127.78
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BLK, the sentiment is Positive. The current price of 1127.78 is above the 20-day moving average (MA) of 1110.56, above the 50-day MA of 1078.51, and above the 200-day MA of 1059.54, indicating a bullish trend. The MACD of 11.87 indicates Positive momentum. The RSI at 55.64 is Neutral, neither overbought nor oversold. The STOCH value of 32.27 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BLK.

BlackRock Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BLK	78 Outperform	$182.99B	31.77	―	1.92%	15.79%	-3.85%
BK	78 Outperform	$81.83B	16.07	12.96%	1.71%	4.22%	51.01%
BX	70 Outperform	$179.06B	37.93	35.78%	3.02%	33.12%	19.86%
ARES	70 Outperform	$48.97B	63.82	18.64%	2.65%	50.70%	7.32%
Sector *	68 Neutral	$18.00B	11.42	9.92%	3.81%	9.73%	1.22%
KKR	67 Neutral	$104.08B	49.75	8.73%	0.56%	-33.80%	-24.81%
CG	59 Neutral	$21.82B	33.69	11.85%	2.30%	-24.62%	437.16%

BlackRock Corporate Events

BlackRock Adds Gregg Lemkau as Independent Board Director

On January 27, 2026, BlackRock’s Board of Directors elected Gregg R. Lemkau, Co-Chief Executive Officer of merchant bank BDT & MSD Partners and Chairman of DFO Management, as an independent director, expanding the Board to 19 members, 16 of whom are independent and including six new independent directors added since 2020. BlackRock highlighted Lemkau’s decades of experience in investment banking, capital markets, and advisory work at BDT & MSD and Goldman Sachs as an important addition to the Board’s deep industry expertise and diverse perspectives, underscoring the firm’s focus on governance and board composition to support its next phase of growth and long-term strategy.

The most recent analyst rating on (BLK) stock is a Buy with a $1324.00 price target. To see the full list of analyst forecasts on BlackRock stock, see the BLK Stock Forecast page.

BlackRock Launches Executive Carry Program for Senior Leaders

On January 13, 2026, BlackRock’s Management Development and Compensation Committee adopted an Executive Carry Program, a new carry-based incentive plan for selected senior executives, excluding the CEO, that ties a portion of their compensation to the performance of a pool of flagship private markets investment funds. The program is designed to align executives’ long-term incentives with fund-level performance, investor outcomes and shareholder value by providing at-risk, performance-based awards that have no value at grant and only pay out through future carry distributions if participating funds achieve specified returns over an extended period. Awards will be allocated through an aggregator partnership that holds carry rights in a subset of BlackRock’s large private markets funds across asset classes, will vest over five years with no vesting until the third year, and are subject to forfeiture upon most terminations as well as to clawback, holdback and restrictive covenant provisions. The move builds on BlackRock’s longstanding use of carry-based incentives, including a similar component introduced for the CEO in 2025, and is intended to strengthen the firm’s ability to attract, retain and motivate key senior talent in a competitive market while further aligning compensation with the growth and strategic importance of its private markets platform.

The most recent analyst rating on (BLK) stock is a Buy with a $1234.00 price target. To see the full list of analyst forecasts on BlackRock stock, see the BLK Stock Forecast page.

BlackRock Reports Record Inflows, Hikes Dividend and Buybacks

On January 15, 2026, BlackRock reported its financial results for the fourth quarter and full year ended December 31, 2025, highlighting record full-year net inflows of $698 billion, including $342 billion in the fourth quarter, driving assets under management to $14 trillion and 12% annualized organic base fee growth in the quarter. Full-year revenue rose 19%, supported by market appreciation, 9% organic base fee growth over the past twelve months, fees related to the GIP and HPS transactions, and higher technology and subscription revenues, while GAAP operating income and diluted EPS fell 7% and 16%, respectively, due to noncash acquisition-related expenses and a noncash charitable contribution, which were excluded from adjusted results. On an adjusted basis, operating income increased 18% and diluted EPS rose 10%, even as lower nonoperating income and a higher diluted share count weighed on earnings, and BlackRock returned $5 billion to shareholders in 2025, including $1.6 billion of share repurchases. Reflecting management’s confidence in the firm’s growth and margin trajectory and its expanding pipeline across public and private markets, technology, and wealth channels, the board approved a 10% increase in the quarterly dividend to $5.73 per share, effective with the March 24, 2026 payment, and authorized an additional 7 million shares for repurchase under the existing buyback program, underscoring a strategy focused on capital returns and long-term shareholder value.

The most recent analyst rating on (BLK) stock is a Hold with a $1209.00 price target. To see the full list of analyst forecasts on BlackRock stock, see the BLK Stock Forecast page.