BlackRock, Inc. (BLK) stock analysis
Company overview and business model
Source fact: 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, New York with additional offices in Atlanta, Georgia; Boston, Massachusetts; Chicago, Illinois; Dallas, Texas; Denver, Colorado; Greenwich, Connecticut; Houston, Texas; Miami, Florida; Newport Beach, California; Palo Alto, California; Philadelphia, Pennsylvania; Princeton, New Jersey; San Francisco, California; Santa Monica, California; Seattle, Washington; Washington, DC; West Palm Beach, Florida; Wilmington, Delaware; Mexico; Canada; South Africa; Netherlands; Greece; Serbia; Belgium; Hungary; Denmark; Ireland; Scotland; Germany; Switzerland; England; Luxembourg; Spain; Italy; France; Sweden; Austria; India; China; Australia; Hong Kong; South Korea; Singapore; Taiwan; Japan; Colombia; Argentina; Peru; Chile; Brazil; UAE; Saudi Arabia; Israel.
Classification: NYSE · Financial Services · Asset Management
Revenue and growth
Source fact: Revenue was USD 24.22 billion for the period ending 2025-12-31.
Caverian calculation: Revenue changed +18.7% (FY2025 vs FY2024).
Profitability
Source fact: Net income was USD 5.55 billion in the latest reported period.
Source metric: Reported net margin was 22.9%.
Balance sheet and liquidity
Source fact: Cash and equivalents were USD 11.47 billion.
Source fact: Total debt was USD 15.00 billion.
Source metric: Current ratio was 15.76x.
Cash-flow analysis
Source fact: Operating cash flow was USD 3.93 billion.
Source fact: Free cash flow was USD 3.55 billion.
Valuation
Source metrics: Trailing P/E 27.62x; Forward P/E 17.95x; Price to book 3.10x; Price to sales 6.86x; EV/EBITDA 16.87x.
Caverian model output: Value score was 53/100.
Competitive position
Classification: Peer context: Asset Management within Financial Services.
Caverian model output: Quality score was 72/100.
Caverian model output: Growth score was 59/100.
Material risks
Caverian calculation: Altman Z-score was 1.83 (grey zone).
Caverian calculation: Piotroski F-score was 3/9.
Data sources and freshness
Freshness: This report uses a stored upstream snapshot; statement periods are shown alongside the figures.
Methodology and limitations
Facts reproduce stored upstream fields. Calculations derive only from the displayed stored statements. Model outputs are Caverian interpretations, not investment advice or a buy/sell recommendation.
How Caverian approaches valuation · Sources and product principles