BLKNYSESecurity Brokers, Dealers & Flotation CompaniesFiscal year ends December 31
BlackRock, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$1124.60−9.78 (-0.86%)
Close on Oct 19, 2026
- Market cap
- $185.16B
- P/E (TTM)
- 26.9
- Dividend yield
- 1.85%
Margins
Share of revenue, fiscal years 2011 to 2025
Operating margin
29.1%−6.1 pts over 5 years
Net margin
22.9%−7.5 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +18.7% | +29.8% | +8.4% | – | |
| Operating income | -7.0% | +3.3% | +4.3% | +4.2% | |
| Net income | -12.8% | +2.4% | +2.4% | +5.2% | |
| EPS, diluted | -15.9% | +1.3% | +2.1% | +6.0% | |
| Free cash flow | -24.4% | -7.0% | +0.0% | +2.5% | |
| Dividend per share | +2.2% | +2.2% | – | +9.1% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 11.0% | 14.3% | 10.7% | |
| Return on assets | 1.4% | 2.9% | 3.6% | |
| Interest coverage | 22.3× | 27.8× | 11.5× | |
| Capex to revenue | 1.0% | 1.2% | 1.5% | |
| Diluted shares | 167M | 155M | 161M |
Where the cash went
Fiscal 2021 to 2025, five years combined
BlackRock generated $22.95B from operations and spent $21.15B on capital expenditure, dividends and share buybacks. 9% of that went back into the business.
Generated
$22.95B
Used
$21.15B
Capital expenditure$1.85B9%Dividends$11.67B55%Share buybacks$7.63B36%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin22.9%
×Asset turnover0.16×
×Equity multiplier2.99×
=Return on equity, FY202510.7%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 22.9% | 0.16× | 2.99× | 10.7% |
| FY2024 | 31.2% | 0.16× | 3.01× | 14.7% |
| FY2023 | 30.8% | 0.15× | 3.12× | 14.3% |
| FY2022 | 46.8% | 0.08× | 3.58× | 13.7% |
| FY2021 | 49.1% | 0.07× | 4.52× | 16.2% |
| FY2020 | 30.4% | 0.09× | 5.02× | 14.3% |
| FY2019 | 30.8% | 0.09× | 4.98× | 13.6% |
| FY2018 | 30.3% | 0.07× | 5.92× | 13.4% |
| FY2017 | 36.4% | 0.06× | 7.23× | 16.3% |
| FY2016 | 25.8% | 0.06× | 7.73× | 11.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 6 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$5.55B
- Cash generatingOperating cash flow above zero$3.93B
- Return on assets improvedROA up on the prior year5.2% → 4.0%
- Earnings backed by cashOperating cash flow above net income$3.93B vs $5.55B
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose– → –
- No dilutionShare count did not rise152M → 161M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.17 → 0.17