# BlackRock, Inc. (BLK)

> BlackRock manages investments for institutions and individuals and sells investment software and financial data subscriptions.

- Exchange: NYSE · Sector: Financials · Industry: Asset Management
- Headquarters: New York City, New York, United States
- Founded: 1988
- Employees: approximately 26,200 (June 30, 2026)
- SEC CIK: 0002012383 ([filings on EDGAR](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0002012383))
- Full page: https://inspectstocks.com/stocks/blk
- Data as of: price 2026-09-28; newest filing used 2026-08-06; latest fiscal period ended 2026-06-30

## Grade

**C+** on the growth-and-cash rubric, 3 of 5 checks passed.

| Check | Result | Now | Before |
| --- | --- | --- | --- |
| Revenue growing overall | passed | $27.3B | $17.9B |
| Revenue growing recently | passed | $27.3B | $24.2B |
| Free cash flow positive | passed | $3.5B |  |
| Free cash flow growing overall | failed | $3.5B | $4.4B |
| Free cash flow growing recently | failed | $3.5B | $3.6B |

Business quality (the + / − mark): 5 of 6 checks passed.

| Check | Result | Now | Before |
| --- | --- | --- | --- |
| Profitable | passed | 24.1% |  |
| Healthy profit margin | passed | 24.1% |  |
| Strong operating margin | passed | 32.6% |  |
| Good return on equity | failed | 11.8% |  |
| Debt under control | passed | 0.27 |  |
| Turns sales into cash | passed | 12.9% |  |

How the grade works: the letter counts failed checks (none → A, one → B, two → C, three → D, four or more → F). It is built from SEC filings only — the share price never enters it — and describes the business, not whether the stock is worth buying.

## Key figures

In US dollars, as filed.

| Measure | Value |
| --- | --- |
| Revenue, trailing twelve months | $27.3B |
| Net income, trailing twelve months | $6.6B |
| Free cash flow, trailing twelve months | $3.5B |
| Net margin | 24.1% |
| Operating margin | 32.6% |
| Return on equity | 11.8% |
| Debt to equity | 0.27 |
| Diluted EPS, trailing twelve months | $41.78 |
| Share price | $1,070.92 |
| Market value | $165.9B |
| Price / earnings | 25.6x |
| Price / sales | 6.1x |

## What the business does

BlackRock invests money for pension plans, governments, insurers, companies, financial advisers and individual investors. It manages portfolios of stocks, bonds, cash and private investments, and offers exchange-traded funds (ETFs) and other funds that investors can buy through financial firms. It also sells investment and risk-management software and private-markets data subscriptions. It earns much of its investment-management revenue based on the value of assets under management (AUM).

### How it makes money

- **Investment management revenue, reported as revenue by investment style** (81.2% (quarter ended March 31, 2026)) — BlackRock generally charges investment and administration fees based on the amount of client money it manages. The segment category covers revenue from managing investments and is not a direct breakdown of fee types.
- **Technology services and subscriptions** (7.9% (quarter ended March 31, 2026)) — Clients pay for services including Aladdin investment and risk-management software, wealth-management tools, private-markets software and data subscriptions. Fees can depend on subscriptions, positions managed, implementation and ongoing support.
- **Distribution and shareholder services** (5.8% (quarter ended March 31, 2026)) — Revenue comes from distribution and shareholder-service arrangements. For some products, BlackRock collects fees and passes them to financial firms that distribute the product and serve investors.
- **Investment performance fees** (4.1% (quarter ended March 31, 2026)) — BlackRock earns these fees on certain portfolios when performance meets agreed benchmarks or return hurdles.
- **Service and other revenue** (1.0% (quarter ended March 31, 2026)) — This is a smaller reported revenue category. The supplied segment data does not break down its individual sources.

### Products

- **iShares ETFs** — Funds that trade on stock exchanges and let investors buy a bundle of investments, such as stocks or bonds, in one purchase. Some track an index; others are actively managed.
- **Mutual funds and separate accounts** — Pooled funds and individually managed portfolios that invest in stocks, bonds and other assets. Active versions are managed in an effort to meet a stated goal; index versions aim to follow a market index.
- **Private-markets investments** — Funds and client portfolios that invest in assets such as private credit, infrastructure, private equity and real estate, rather than only publicly traded stocks and bonds.
- **LifePath target-date funds** — Retirement investments that adjust their mix of stocks, bonds and other holdings based on an investor’s expected retirement timing.
- **Cash-management funds and accounts** — Money-market funds and other short-term cash investments, including customized accounts for institutions.
- **Aladdin, eFront and Preqin** — Paid services for investment and risk-management software, managing private-market investments, and private-markets data.

### Customers

- Pension plans and retirement programs hire BlackRock to manage retirement savings and investment portfolios.
- Governments, central banks and sovereign wealth funds hire BlackRock to manage public or national investment assets.
- Insurers, banks, companies and other financial institutions hire BlackRock to manage portfolios or invest in its funds.
- Charities, foundations and endowments hire BlackRock to invest money intended to support their work over time.
- Individual investors usually buy BlackRock funds through financial advisers, banks, brokers, insurance firms or workplace retirement plans.
- Wealth managers and financial advisers use BlackRock funds, portfolio tools and software to build and manage client investments.

### Competitors

- Vanguard — Mutual funds, index investments and ETFs sold to individual investors and institutions.
- State Street Investment Management, a division of State Street Corporation (STT) — ETFs, index funds and investment-management services for individual and institutional clients.
- Fidelity Investments — Mutual funds, investment-management services and products distributed to individual investors and institutions.
- Invesco (IVZ) — ETFs, mutual funds and investment-management services.
- JPMorgan Asset Management, a division of JPMorgan Chase & Co. (JPM) — Funds and investment-management services for individuals, institutions and retirement plans.

### What it depends on

- Investment-management fees generally depend on the value of client assets, which changes with market prices, currency movements and client deposits or withdrawals.
- BlackRock relies on clients renewing investment-management agreements and on financial firms and advisers to distribute many of its products.
- The Aladdin software business depends on reliable systems and outside technology providers that support its operations and connections to clients.
- BlackRock’s investment, fund and technology businesses operate under financial-services rules in the United States and other countries.

### What could go wrong

- Falling stock, bond or other asset prices can reduce the value of client portfolios and the assets on which BlackRock commonly charges fees.
- Clients can withdraw money or end investment contracts, and poor investment performance or competing products can contribute to lost assets and fees.
- A cyberattack, systems outage or failure of an outside technology provider could disrupt Aladdin or other operations, affect clients and damage BlackRock’s reputation.

## More on this company

- [Overview](https://inspectstocks.com/stocks/blk)
- [Financial statements](https://inspectstocks.com/stocks/blk/financials)
- [Competitors](https://inspectstocks.com/stocks/blk/peers)
- [Earnings](https://inspectstocks.com/stocks/blk/earnings)

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Source: InspectStocks, built from the company’s own SEC filings. This describes a business — it is not investment advice and not a recommendation to buy or sell anything.