BlackRock (BLK)
NYSE:BLK
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BlackRock
(NYSE:BLK)
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Rating:71Outperform
Price Target:
$1,131.00
▲(7.50% Upside)
Action:ReiteratedDate:04/14/26
The score is anchored by strong profitability and a conservative balance sheet, reinforced by an upbeat earnings call with solid growth, inflows, and margin targets. These positives are tempered primarily by the reported TTM cash flow collapse (operating cash flow and free cash flow at 0), with additional drag from only mixed technicals and a relatively elevated P/E.
Positive Factors
Scale and Net Inflows / AUM Growth
Persistent large net inflows and 20% y/y AUM growth strengthen BlackRock's durable fee base and lower revenue cyclicality. Scale amplifies distribution advantages across ETFs, active and private products, supports cross-selling and pricing power, and makes its platform the default for large mandates over time.
Negative Factors
Reported Cash-Flow Anomaly
A reported collapse to zero TTM operating and free cash flow materially undermines confidence in cash conversion, which is critical for dividends, buybacks and reinvestment. Even if timing or reporting-related, this gap is a persistent risk to capital return sustainability and financial flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
Scale and Net Inflows / AUM Growth
Persistent large net inflows and 20% y/y AUM growth strengthen BlackRock's durable fee base and lower revenue cyclicality. Scale amplifies distribution advantages across ETFs, active and private products, supports cross-selling and pricing power, and makes its platform the default for large mandates over time.
Read all positive factors
BlackRock (BLK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$169.40B
Dividend Yield1.92%
Average Volume (3M)922.47K
Price to Earnings (P/E)16.9
Beta (1Y)1.08
Revenue Growth23.00%
EPS Growth-3.04%
CountryUS
Employees22,600
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)12.53
Shares Outstanding155,364,730
10 Day Avg. Volume885,895
30 Day Avg. Volume922,466
Financial Highlights & Ratios
PEG Ratio-1.92
Price to Book (P/B)2.97
Price to Sales (P/S)6.86
P/FCF Ratio44.28
Enterprise Value/Market Cap0.97
Enterprise Value/Revenue6.81
Enterprise Value/Gross Profit13.50
Enterprise Value/Ebitda18.48
Forecast
1Y Price Target
$1,237.40Price Target Upside17.61% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering10
EPS Forecast (FY)53.14
Revenue Forecast (FY)$28.07B
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-pa...
How the Company Makes Money
BlackRock primarily makes money by charging fees based on assets it manages and by providing investment and technology services.
1) Investment advisory and administration fees (asset-management fees): The largest driver of revenue is recurring ma...
BlackRock Key Performance Indicators (KPIs)
Any
Assets Under Management
Reflects the total value of assets managed, indicating the scale of operations and investor trust, which are key to revenue generation and market influence.
Reflects the total value of assets managed, indicating the scale of operations and investor trust, which are key to revenue generation and market influence.
Data provided by:
The Fly
The FlyBlackRock Earnings Call Summary
Earnings Call Date:Apr 14, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 21, 2026
Earnings Call Sentiment Positive
The call emphasized multiple strong operating metrics — double-digit revenue and operating income growth, margin expansion, robust organic base fee growth (8% Q1, 10% LTM), and record ETF inflows ($132B) — supported by successful acquisitions (HPS, Preqin) and technology services growth. Notable challenges include sizeable institutional index outflows ($35B), cash management redemptions, higher expenses tied to acquisitions and incentives, market volatility and geopolitical uncertainty, and potential moderation in some private-credit retail channels. On balance, the positive growth, broad-based inflows, margin expansion, and strategic private markets and technology momentum materially outweigh the noted headwinds.Positive Updates
Strong Top-Line and Profit Growth
First-quarter revenue of $6.7 billion, up 27% year-over-year; operating income of $2.7 billion, up 31% year-over-year; as-adjusted EPS of $12.53, up 11% year-over-year.
Negative Updates
Index and Cash Outflows
Institutional index net outflows of $35 billion concentrated in low-fee index equities; cash management platform saw $6 billion of net outflows driven by seasonal redemptions from U.S. government funds.
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Top-Line and Profit Growth
First-quarter revenue of $6.7 billion, up 27% year-over-year; operating income of $2.7 billion, up 31% year-over-year; as-adjusted EPS of $12.53, up 11% year-over-year.
Read all positive updates
Company Guidance
BlackRock reiterated several forward-looking targets: it plans to repurchase at least $450 million of shares per quarter for the balance of 2026; expects a ~25% tax run‑rate for the remainder of 2026 (Q1 as‑adjusted ~23%, including $57 million of discrete benefits); remains committed to low‑ to mid‑teens long‑term ACV growth; targets an adjusted operating margin of 45%+ (Q1 was 44.5%, and adjusted recurring‑FRE margin excluding performance fees was 45.6% with scope to trend toward >50% over time); pursues a 2030 objective of 5%+ organic base fee growth (saying it can consistently deliver 6–8% and 6–7% from structural growers in normal markets); and reiterated that active ETFs can be a $500 million+ revenue stream by 2030, already “more than halfway there.”BlackRock Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
92
Very Positive
Cash Flow
28
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 24.22B | 20.41B | 17.86B | 17.87B | 19.37B |
| Gross Profit | 13.45B | 10.09B | 8.58B | 8.68B | 9.82B |
| EBITDA | 8.47B | 8.21B | 6.77B | 6.90B | 7.90B |
| Net Income | 5.55B | 6.37B | 5.50B | 5.18B | 5.90B |
Balance Sheet | |||||
| Total Assets | 170.00B | 138.62B | 123.21B | 117.63B | 152.65B |
| Cash, Cash Equivalents and Short-Term Investments | 14.26B | 14.59B | 10.61B | 8.75B | 9.32B |
| Total Debt | 15.00B | 14.22B | 9.70B | 8.49B | 9.32B |
| Total Liabilities | 108.46B | 89.26B | 81.97B | 78.84B | 113.75B |
| Stockholders Equity | 55.89B | 47.49B | 39.35B | 37.74B | 37.69B |
Cash Flow | |||||
| Free Cash Flow | 3.75B | 4.70B | 3.82B | 4.42B | 4.60B |
| Operating Cash Flow | 4.12B | 4.96B | 4.17B | 4.96B | 4.94B |
| Investing Cash Flow | -4.62B | -3.00B | -959.00M | -1.13B | -1.94B |
| Financing Cash Flow | -1.13B | 2.24B | -1.99B | -5.44B | -2.29B |
BlackRock Technical Analysis
Positive
1052.14
Price Trends
1011.63
Positive
1045.61
Positive
1074.16
Negative
Market Momentum
11.63
Negative
62.33
Neutral
75.20
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 1052.14 is above the 20-day moving average (MA) of 986.81, above the 50-day MA of 1011.63, and below the 200-day MA of 1074.16, indicating a neutral trend. The MACD of 11.63 indicates Negative momentum. The RSI at 62.33 is Neutral, neither overbought nor oversold. The STOCH value of 75.20 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BLK.
BlackRock Risk Analysis
BlackRock disclosed 46 risk factors in its most recent earnings report. BlackRock reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
BlackRock Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $90.79B | 12.56 | 13.48% | 1.71% | 1.89% | 31.72% | |
71 Outperform | $169.40B | 16.88 | 12.00% | 1.92% | 23.00% | -3.04% | |
69 Neutral | $146.29B | 34.66 | 36.17% | 3.02% | 20.63% | 17.98% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | $36.53B | 66.62 | 12.01% | 2.65% | 53.25% | -15.15% | |
60 Neutral | $17.27B | 26.29 | 14.18% | 2.30% | -9.67% | -21.10% | |
57 Neutral | $88.55B | 24.79 | 8.15% | 0.56% | -13.38% | -27.58% |
* Financial Sector Average
BLK
BlackRock
1,039.38
141.74
15.79%
BK
Bank of New York Mellon
132.27
52.85
66.55%
KKR
KKR & Co
99.32
-14.46
-12.71%
BX
Blackstone Group
119.83
-10.08
-7.76%
CG
Carlyle Group
47.81
9.66
25.31%
ARES
Ares Management
110.86
-36.47
-24.75%
BlackRock Corporate Events
Business Operations and StrategyDividendsFinancial Disclosures
BlackRock Posts Strong Q1 2026 Results, Boosts Dividend
Positive
Apr 14, 2026
BlackRock reported strong first-quarter 2026 results on April 14, 2026, with diluted EPS of $14.06, or $12.53 on an adjusted basis, as assets under management rose 20% year-on-year to $13.9 trillion and revenue climbed 27%. The firm drew $130 bill...
Business Operations and StrategyPrivate Placements and Financing
BlackRock Expands and Extends Revolving Credit Facility
Positive
Apr 3, 2026
On March 31, 2026, BlackRock, Inc. and certain subsidiaries executed a seventeenth amendment to their long-standing five-year revolving credit agreement with a syndicate of banks led by Wells Fargo Bank, N.A. The amendment raises total commitments...
Business Operations and StrategyExecutive/Board Changes
BlackRock Adds Gregg Lemkau as Independent Board Director
Positive
Jan 27, 2026
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 w...
Business Operations and StrategyExecutive/Board Changes
BlackRock Launches Executive Carry Program for Senior Leaders
Positive
Jan 16, 2026
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 compensat...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.