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BlackRock
(NYSE:BLK)
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Rating:79Outperform
Price Target:
$1,293.00
â–²(22.48% Upside)
Action:Reiterated
Date:08/07/26
BLK scores strongly on fundamentals and earnings-call momentum (record inflows/AUM, margin expansion, and increased capital returns), supported by bullish technicals with price above major moving averages. The score is held back by weaker TTM cash-flow performance and a premium valuation (P/E 25.7), which increase sensitivity if AUM/flow momentum cools or expenses stay elevated.
Positive Factors
Scale & Net Inflows
Record AUM and sustained large net inflows underpin durable fee revenue and client diversification. Scale supports pricing power for ETF/index products, steadies revenue against pockets of outflows, and creates distribution advantages for new products, reinforcing long-term cash generation and strategic optionality.
Negative Factors
Weaker Cash Conversion
Material decline in operating and free cash flow signals timing or structural working-capital pressures that weaken cash conversion. Lower FCF constrains reinvestment, raises sensitivity of buybacks to earnings, and may force financing for large projects, reducing margins of safety over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Scale & Net Inflows
Record AUM and sustained large net inflows underpin durable fee revenue and client diversification. Scale supports pricing power for ETF/index products, steadies revenue against pockets of outflows, and creates distribution advantages for new products, reinforcing long-term cash generation and strategic optionality.
Read all positive factors
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 (BLK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$183.83B
Dividend Yield1.9%
Average Volume (3M)840.60K
Price to Earnings (P/E)27.1
Beta (1Y)1.13
Revenue Growth23.07%
EPS Growth1.36%
CountryUS
Employees25,400
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)42.39
Shares Outstanding154,869,260
10 Day Avg. Volume876,122
30 Day Avg. Volume840,597
Financial Highlights & Ratios
PEG Ratio-1.92
Price to Book (P/B)2.97
Price to Sales (P/S)6.86
P/FCF Ratio46.74
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$1,320.25Price Target Upside25.06% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering13
EPS Forecast (FY)56.41
Revenue Forecast (FY)$28.88B
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 tied to the assets it manages, along with revenue from technology and advisory services.
1) Investment advisory and administration fees (asset management fees): The largest portion of BlackRock’s r...
BlackRock Earnings Call Summary
Earnings Call Date:Jul 15, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 09, 2026
Earnings Call Sentiment Positive
The earnings call presents a strongly positive operational and financial picture: record inflows, double-digit growth in key financial metrics (revenue +31%, operating income +39%, EPS +15%), significant margin expansion (+260 bps), robust private markets and ETF momentum, and accelerating technology and digital-asset initiatives. Headwinds are present but largely manageable and tied to deliberate expansion (acquisitions, higher compensation, integration costs), some product/channel-specific outflows (institutional index and cash), and market/regulatory volatility in digital assets and segments of private credit. Management highlights sustainability of organic base fee growth and increased share repurchases, supporting confidence in continued positive trajectory.Positive Updates
Record Net Inflows and AUM Growth
Total net inflows of $192 billion in Q2 2026 and $868 billion over the last 12 months; AUM reached a record $15.3 trillion and BlackRock reported a $1 trillion increase in AUM year-to-date 2026.
Negative Updates
Rising Expenses from Acquisitions and Incentives
Total expenses rose 25% YoY in Q2: employee compensation and benefits up 28% (higher incentive comp and headcount from HPS onboarding), sales/asset/account expense up 26%, and G&A up 17%, driven in part by acquisition impacts (HPS, Preqin).
Read all updates
Q2-2026 Updates
Positive
Negative
Record Net Inflows and AUM Growth
Total net inflows of $192 billion in Q2 2026 and $868 billion over the last 12 months; AUM reached a record $15.3 trillion and BlackRock reported a $1 trillion increase in AUM year-to-date 2026.
Read all positive updates
Company Guidance
BlackRock's forward guidance emphasized stepped-up capital returns and multi-year strategic targets: the firm now expects to repurchase at least $550 million of stock per quarter going forward (after $450 million repurchased in Q2) and to return over $5.7 billion to shareholders this year (a 16% increase vs. 2025); it projects an as‑adjusted tax run rate of ~25% for the remainder of 2026 and is targeting a 45%+ adjusted operating margin for the full year (Q2 was 45.9%, 46.5% ex‑performance fees); longer‑term targets include low‑to‑mid‑teens ACV growth, a mid‑single‑digit full‑year G&A increase after annualizing HPS/Preqin, a goal of 30% of revenue from private markets and technology by 2030, $400 billion gross private fundraising ambition for 2025–2030, and a $500 million revenue objective for digital assets.BlackRock Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
83
Very Positive
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 27.30B | 24.22B | 20.41B | 17.86B | 17.87B | 19.37B |
| Gross Profit | 15.21B | 11.31B | 10.09B | 8.58B | 8.68B | 9.82B |
| EBITDA | 10.69B | 9.36B | 8.21B | 6.77B | 6.90B | 7.90B |
| Net Income | 6.58B | 5.55B | 6.37B | 5.50B | 5.18B | 5.90B |
Balance Sheet | ||||||
| Total Assets | 175.88B | 170.00B | 138.62B | 123.21B | 117.63B | 152.65B |
| Cash, Cash Equivalents and Short-Term Investments | 25.64B | 14.26B | 14.59B | 10.61B | 8.75B | 9.32B |
| Total Debt | 14.97B | 15.00B | 14.22B | 9.70B | 8.49B | 9.32B |
| Total Liabilities | 111.33B | 108.46B | 89.26B | 81.97B | 78.84B | 113.75B |
| Stockholders Equity | 57.61B | 55.89B | 47.49B | 39.35B | 37.74B | 37.69B |
Cash Flow | ||||||
| Free Cash Flow | 2.32B | 3.55B | 4.70B | 3.82B | 4.42B | 4.60B |
| Operating Cash Flow | 2.85B | 3.93B | 4.96B | 4.17B | 4.96B | 4.94B |
| Investing Cash Flow | -2.05B | -4.42B | -3.00B | -959.00M | -1.13B | -1.94B |
| Financing Cash Flow | -1.22B | -1.13B | 2.24B | -1.99B | -5.44B | -2.29B |
BlackRock Technical Analysis
Positive
1055.67
Price Trends
1040.88
Positive
1032.41
Positive
1045.03
Positive
Market Momentum
27.89
Negative
64.05
Neutral
79.69
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BLK, the sentiment is Positive. The current price of 1055.67 is below the 20-day moving average (MA) of 1086.80, above the 50-day MA of 1040.88, and above the 200-day MA of 1045.03, indicating a bullish trend. The MACD of 27.89 indicates Negative momentum. The RSI at 64.05 is Neutral, neither overbought nor oversold. The STOCH value of 79.69 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
79 Outperform | $183.83B | 27.10 | 11.65% | 2.07% | 23.07% | 1.36% | |
77 Outperform | $175.92B | 32.70 | 40.87% | 3.02% | 22.60% | 20.33% | |
72 Outperform | $93.20B | 33.03 | 10.32% | 0.75% | 31.83% | 48.98% | |
68 Neutral | $45.20B | 62.49 | 15.20% | 3.90% | 33.64% | 22.53% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
57 Neutral | $17.03B | 47.76 | 6.07% | 3.08% | -44.06% | -71.02% |
* Financial Sector Average
BLK
BlackRock
1,148.84
13.03
1.15%
KKR
KKR & Co
110.97
-35.21
-24.09%
BX
Blackstone Group
147.17
-19.80
-11.86%
CG
Carlyle Group
48.36
-14.74
-23.36%
ARES
Ares Management
143.11
-42.79
-23.02%
BlackRock Corporate Events
Business Operations and StrategyM&A TransactionsRegulatory Filings and Compliance
BlackRock Registers Shares for HPS Deal Consideration
Neutral
Jun 30, 2026
On June 30, 2026, BlackRock filed a prospectus supplement with the U.S. Securities and Exchange Commission to register up to 12,035,866 shares of common stock for issuance to holders of Class B-2 membership units in BlackRock Saturn Subco, LLC. Th...
Executive/Board ChangesShareholder Meetings
BlackRock Shareholders Approve Directors, Pay and Governance Changes
Positive
May 22, 2026
On May 20, 2026, BlackRock shareholders elected all 19 director nominees at the company’s 2026 annual meeting, reinforcing continuity in the board’s oversight of the asset manager’s global operations. Investors also approved, on ...
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.