BlackRock (BLK)
NYSE:BLK
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BlackRock
(NYSE:BLK)
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Rating:72Outperform
Price Target:
$1,073.00
â–²(7.14% Upside)
Action:ReiteratedDate:04/04/26
The score is driven primarily by strong profitability and a very conservative balance sheet, plus a positive earnings-call outlook with record flows and continued capital returns. Offsetting these strengths are the major TTM cash-flow red flag and weak technical momentum (price below key moving averages with negative MACD), with valuation also on the expensive side despite a supportive dividend yield.
Positive Factors
Record net inflows & AUM scale
Nearly $700B of annual net inflows and $14T AUM materially expand BlackRock’s recurring fee base and scale advantages. Durable inflows improve fee revenue stability, enhance cross-sell of higher‑fee products and alternatives, and strengthen resilience across market cycles.
Negative Factors
TTM cash flow anomaly
A sudden TTM reporting of zero operating and free cash flow breaks historical cash conversion visibility. Until resolved, this undermines confidence in cash generation quality, complicates capital allocation and raises risk around sustainable dividends and buybacks over several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Record net inflows & AUM scale
Nearly $700B of annual net inflows and $14T AUM materially expand BlackRock’s recurring fee base and scale advantages. Durable inflows improve fee revenue stability, enhance cross-sell of higher‑fee products and alternatives, and strengthen resilience across market cycles.
Read all positive factors
BlackRock (BLK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$163.41B
Dividend Yield1.92%
Average Volume (3M)901.13K
Price to Earnings (P/E)29.9
Beta (1Y)1.07
Revenue Growth15.79%
EPS Growth-3.85%
CountryUS
Employees22,600
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)N/A
Shares Outstanding155,541,530
10 Day Avg. Volume621,709
30 Day Avg. Volume901,132
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/Revenue6.58
Enterprise Value/Gross Profit13.04
Enterprise Value/Ebitda17.84
Forecast
1Y Price Target
$1,249.30Price Target Upside24.74% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering10
EPS Forecast (FY)53.49
Revenue Forecast (FY)$28.23B
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:Jan 15, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jul 21, 2026
Earnings Call Sentiment Positive
The call emphasized strong, broad-based growth across net inflows ($698B), revenue (+19% YoY to $24B), organic base fee growth (9% FY, 12% in Q4), record iShares flows ($527B) and technology/ACV expansion, supported by strategic acquisitions (GIP, HPS, Preqin) and meaningful shareholder returns (record $5B returned, 10% dividend increase, $1.8B repurchase plan). Headline weaknesses included institutional index outflows ($119B), higher expenses (+19%) and a modest reported margin compression driven by performance fees and related compensation, plus a $106M mark-to-market loss on Circle and some private credit/BDC flow volatility. Overall, positive momentum and durable platform strength outweigh the cited challenges.Positive Updates
Record Net Inflows
Full year 2025 net inflows of $698 billion (nearly $700 billion), including $342 billion in Q4; nearly $2.5 trillion of net inflows over the last 5 years.
Negative Updates
Institutional Index Outflows
Institutional index strategies experienced net outflows of $119 billion in 2025, driven mainly by redemptions from low-fee index equity strategies.
Read all updates
Q4-2025 Updates
Positive
Negative
Record Net Inflows
Full year 2025 net inflows of $698 billion (nearly $700 billion), including $342 billion in Q4; nearly $2.5 trillion of net inflows over the last 5 years.
Read all positive updates
Company Guidance
The company provided explicit near‑ and medium‑term guidance including a 10% increase to the first‑quarter 2026 dividend, a Board‑authorized repurchase of an additional 7 million shares and a plan to repurchase roughly $1.8 billion of shares in 2026 (after returning a record $5.0 billion to shareholders in 2025, including $1.6 billion for the full year and $500 million in Q4); it expects an as‑adjusted tax run rate of about 25% for 2026 (Q4 as‑adjusted tax ~20%), anticipates mid‑single‑digit G&A growth after annualizing HPS and Preqin, and expects headcount to be broadly flat in 2026; operational targets include maintaining an adjusted operating margin of 45% or greater (45% in Q4, 44.1% for FY25), sustaining organic base fee growth more consistently in the 6–7%+ range (9% FY25, 12% in Q4), and expanding technology ACV (ACV +31% YoY including Preqin, +16% organic); longer‑term ambitions reiterated include raising $400 billion of gross private markets fundraising through 2030, targeting certain new franchises (private markets to insurance/wealth, digital assets, active ETFs) to be ~$500 million revenue generators within five years, and mobilizing an initial $30 billion of AIP equity (potential to reach ~$100 billion including debt).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 | 11.47B | 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
Neutral
1001.54
Price Trends
1021.50
Negative
1045.52
Negative
1073.55
Negative
Market Momentum
-13.13
Negative
55.24
Neutral
58.84
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BLK, the sentiment is Neutral. The current price of 1001.54 is above the 20-day moving average (MA) of 959.09, below the 50-day MA of 1021.50, and below the 200-day MA of 1073.55, indicating a neutral trend. The MACD of -13.13 indicates Negative momentum. The RSI at 55.24 is Neutral, neither overbought nor oversold. The STOCH value of 58.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
72 Outperform | $163.41B | 29.90 | 10.65% | 1.92% | 15.79% | -3.85% | |
69 Neutral | $87.88B | 14.74 | 12.66% | 1.71% | 4.22% | 51.01% | |
69 Neutral | $143.82B | 39.87 | 36.17% | 3.02% | 33.12% | 19.86% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | $34.54B | 66.62 | 12.01% | 2.65% | 50.70% | 7.32% | |
60 Neutral | $17.40B | 26.29 | 14.18% | 2.30% | -24.62% | 437.16% | |
57 Neutral | $83.77B | 24.79 | 8.15% | 0.56% | -33.80% | -24.81% |
* Financial Sector Average
BLK
BlackRock
1,001.54
160.10
19.03%
BK
Bank of New York Mellon
127.94
52.91
70.52%
KKR
KKR & Co
93.96
-7.28
-7.19%
BX
Blackstone Group
117.67
-5.58
-4.53%
CG
Carlyle Group
48.18
12.49
35.00%
ARES
Ares Management
104.83
-26.53
-20.20%
BlackRock Corporate Events
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...
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
BlackRock Reports Record Inflows, Hikes Dividend and Buybacks
Positive
Jan 15, 2026
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 und...
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.