# BlackRock, Inc. (BLK)

> Source: Nexqual · https://nexqual.com/BLK · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, BlackRock, Inc. (BLK), nexqual.com/BLK" · informational, not investment advice.

**Price:** USD 1,137.29 (-1.07% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 1,149.6 · day 1,134.38–1,159.99 · 52w 917.39–1,187.17 · market cap $185B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $27.3B, net income $6.58B (24.1% margin) (SEC filings).
- Valuation: P/E 28.1x (avg 25.9x at the last 3 fiscal year-ends).
- 6 of 80 tracked superinvestors hold BLK (13F, Q2 2026): 0 new, 1 added, 3 reduced, 2 unchanged.
- Analysts: Buy (mean 1.78 on a 1–5 scale) (18 analysts), mean target USD 1,351 (range 1,250–1,531).
- Total return with dividends: 1Y +3.3% vs S&P 500 +14.9%; 5Y +40.3% vs S&P 500 +80.3%.
- Next earnings: 2027-01-14, EPS estimate USD 15.47, revenue estimate $7.90B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|
| Revenue | $17.9B | $17.9B | $20.4B | $24.2B | $27.3B |
| Operating income | $6.38B | $6.28B | $7.57B | $7.04B | $8.89B |
| Net income | $5.18B | $5.50B | $6.37B | $5.55B | $6.58B |
| EPS (diluted) | $33.97 | $36.51 | $42.01 | $35.31 | — |
| Free cash flow | $4.42B | $3.82B | $4.70B | $3.55B | $3.52B |
| Operating margin | 35.7% | 35.1% | 37.1% | 29.1% | 32.6% |
| Net margin | 29.0% | 30.8% | 31.2% | 22.9% | 24.1% |
| Revenue growth | — | -0.1% | +14.3% | +18.7% | — |
| Cash + short-term investments | $7.43B | $8.74B | $12.8B | $11.5B | — |
| Total debt | — | $7.92B | $12.3B | $12.8B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 28.1x · P/S 6.8x · P/FCF 52.6x · P/B 3.2x · FCF yield 1.90% · Earnings yield 3.56%
P/E at fiscal year-ends: Dec 2025 31.0x, Dec 2024 24.4x, Dec 2023 22.2x.

## Superinvestors (SEC 13F-HR, Q2 2026)
6 of 80 tracked investors hold BLK. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| ValueAct Capital |  | 9.93% | $559M | Added +6.5% |
| William Von Mueffling | Cantillon Capital Management | 3.02% | $20.1M | Reduced -95.4% |
| Thomas Gayner | Markel Group | 1.61% | $212M | Unchanged |
| Hillman Capital | Hillman Capital Management | 0.24% | $330K | Reduced -1.1% |
| Bill Nygren | Oakmark Funds | 0.06% | $42.9M | Reduced -18.3% |
| Dodge & Cox Funds | Dodge & Cox | <0.01% | $684K | Unchanged |

## Analysts
Consensus Buy (mean 1.78 on a 1–5 scale), 18 analysts; mean target USD 1,351 (low 1,250, high 1,531).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-20 | TD Cowen | Upgrade | Hold → Buy | $1212 → $1405 |
| 2026-10-19 | BMO Capital | Target raised | Outperform | $1300 → $1350 |
| 2026-10-15 | UBS | Target raised | Buy | $1277 → $1300 |
| 2026-10-15 | Morgan Stanley | Target raised | Overweight | $1468 → $1531 |
| 2026-10-15 | JP Morgan | Target raised | Overweight | $1435 → $1449 |
| 2026-10-15 | Barclays | Target lowered | Overweight | $1420 → $1410 |
| 2026-10-15 | Wells Fargo | Target raised | Overweight | $1230 → $1250 |
| 2026-10-15 | Keefe, Bruyette & Woods | Target raised | Outperform | $1290 → $1310 |
| 2026-10-13 | Morgan Stanley | Target lowered | Overweight | $1479 → $1468 |
| 2026-10-12 | TD Cowen | Target raised | Hold | $1190 → $1212 |
| 2026-10-09 | Evercore ISI Group | Target lowered | Outperform | $1300 → $1275 |
| 2026-10-08 | Wells Fargo | Target lowered | Overweight | $1245 → $1230 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +3.3% | +40.3% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +3.3% | +7.0% |
| Volatility (annualized) | 27.2% | 28.2% |
| Max drawdown | -20.2% (Jan 2026→Mar 2026) | -41.9% (Nov 2021→Sep 2022) |

## Peers (Asset Management)
BX (Blackstone Inc.) USD 118.75 +8.38% · BN (Brookfield Corporation) USD 38.28 +2.05% · KKR (KKR & Co. Inc.) USD 93.09 +3.58% · BAM (Brookfield Asset Management Inc) USD 47.64 +3.45% · APO (Apollo Global Management, Inc. ) USD 114.83 +2.81% · STT (State Street Corporation) USD 167.84 -0.66%

## More
Full page: https://nexqual.com/BLK · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)


Other companies that name BLK in their own reports (relationship from BLK's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | MIZUHO FINANCIAL GROUP INC (MFG) | 20-F 2026-06-26 | "In addition, in various product fields, we are focusing on developing and offering products through collaboration with BlackRock, Inc., Partner Group AG and Golub Capital." |
| partner | Canadian Solar Inc. (CSIQ) | 20-F 2026-04-10 | "In January 2024, Canadian Solar Energy Group B.V. and Recurrent Energy B.V., our subsidiaries, entered into a purchase and sale agreement with GRP IV UK Holdco Limited ("GRP IV"), which is managed by …" |
| partner | CITIZENS, INC. (CIA) | 10-K 2026-03-12 | "In 2025, the write-down of our BlackRock investment was offset by positive fair value changes in some of our other limited partnership type investments." |
| partner | Circle Internet Group, Inc. (CRCL) | 10-K 2026-03-09 | "Partnership with BlackRock" |
| partner | iShares Silver Trust (SLV) | 10-K 2026-02-27 | "BlackRock aims to inform and continuously improve its cybersecurity program through engagement with regulatory, client, insurer, vendor, partner, peer, government and industry organizations and associ…" |
| partner | iShares Ethereum Trust ETF (ETHA) | 10-K 2026-02-27 | "BlackRock aims to inform and continuously improve its cybersecurity program through engagement with regulatory, client, insurer, vendor, partner, peer, government and industry organizations and associ…" |
| partner | iShares Bitcoin Trust ETF (IBIT) | 10-K 2026-02-27 | "BlackRock aims to inform and continuously improve its cybersecurity program through engagement with regulatory, client, insurer, vendor, partner, peer, government and industry organizations and associ…" |
| partner | ISHARES GOLD TRUST (IAU) | 10-K 2026-02-27 | "BlackRock aims to inform and continuously improve its cybersecurity program through engagement with regulatory, client, insurer, vendor, partner, peer, government and industry organizations and associ…" |
| partner | iShares Gold Trust Micro (IAUM) | 10-K 2026-02-27 | "BlackRock aims to inform and continuously improve its cybersecurity program through engagement with regulatory, client, insurer, vendor, partner, peer, government and industry organizations and associ…" |
| partner | iShares S&P GSCI Commodity-Indexed Trust (GSG) | 10-K 2026-02-27 | "BlackRock aims to inform and continuously improve its cybersecurity program through engagement with regulatory, client, insurer, vendor, partner, peer, government and industry organizations and associ…" |
| partner | Akebia Therapeutics, Inc. (AKBA) | 10-K 2026-02-26 | "In addition to any further costs not currently contemplated in our operating plan, our ability to achieve and maintain profitability and our financial position will depend, in part, on the rate of our…" |
| related | UNISYS CORP (UIS) | 10-K 2026-02-25 | "(ii) As of December 31, 2025, the pension plans assets include approximately $48.4 million of investments in funds managed by BlackRock, Inc., a related party of the company." |
| related | SELECTIVE INSURANCE GROUP INC (SIGI) | 10-K 2026-02-09 | "We are required to disclose related party information for our transactions with BlackRock." |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $15.47 | $15.36 | +0.7% | $7.90B | 13 |
| Next quarter (ends 2027-03-31) | $14.84 | $14.59 | +1.7% | $7.63B | 10 |
| Current fiscal year (ends 2026-12-31) | $57.86 | $56.25 | +2.9% | $29.51B | 15 |
| Next fiscal year (ends 2027-12-31) | $64.83 | $63.90 | +1.5% | $32.75B | 18 |