BlackRock Inc. (BLK) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$12.7	$13.9	+9.6%	—	$7.1B	—
Q1 26	$11.5	$12.5	+9.3%	—	$6.7B	—
Q3 25	$11.3	$11.6	+2.3%	—	$6.5B	—
Q2 25	$10.8	$12.1	+11.5%	—	$5.4B	—
Q1 25	$10.1	$11.3	+11.5%	—	$5.3B	—
Q4 24	$11.2	$11.9	+6.3%	—	$5.7B	—
Q3 24	$10.3	$11.5	+11.2%	—	$5.2B	—
Q2 24	$9.96	$10.4	+4.0%	—	$4.8B	—
Q1 24	$9.39	$9.81	+4.5%	—	$4.7B	—
Q4 23	$8.88	$9.66	+8.8%	—	$4.6B	—
Q3 23	$8.34	$10.9	+30.8%	—	$4.5B	—
Q2 23	$8.47	$9.28	+9.6%	—	$4.5B	—
Q1 23	$7.73	$7.93	+2.6%	—	$4.2B	—
Q4 22	$8.1	$8.93	+10.2%	—	$4.3B	—
Q3 22	$7.06	$9.55	+35.3%	—	$4.3B	—
Q2 22	$8.02	$7.36	-8.2%	—	$4.5B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$35.8	—	—	$24.2B	—
FY24	—	$42.5	—	—	$20.4B	—
FY23	—	$36.9	—	—	$17.9B	—
FY22	—	$34.3	—	—	$17.9B	—
FY21	—	$38.6	—	—	$19.4B	—
FY20	—	$32	—	—	$16.2B	—
FY19	—	$28.6	—	—	$14.5B	—
FY18	—	$26.8	—	—	$14.2B	—
FY17	—	$30.4	—	—	$13.6B	—
FY16	—	$19.2	—	—	$12.3B	—

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$12.3B	$13.6B	$14.2B	$14.5B	$16.2B	$19.4B	$17.9B	$17.9B	$20.4B	$24.2B
YoY change	+7.54%	+10.9%	+4.4%	+2.4%	+11.5%	+19.6%	-7.75%	-0.08%	+14.3%	+18.7%

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$4.5B	$4.6B	$4.7B	$4.8B	$5.2B	$5.7B	$5.3B	$5.4B	$6.5B	$7B	$6.7B	$7.1B
YoY change	+4.89%	+6.78%	+11.4%	+7.66%	+14.9%	+22.6%	+11.6%	+12.9%	+25.2%	+23.4%	+27%	+30.6%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	12.3B	13.6B	14.2B	14.5B	16.2B	19.4B	17.9B	17.9B	20.4B	24.2B
Cost of revenue	6.5B	7.1B	7B	7.4B	8.2B	9.9B	9.4B	9.5B	10.3B	12.9B
Gross profit	5.8B	6.5B	7.2B	7.1B	8B	9.5B	8.4B	8.3B	10.1B	11.3B
Gross margin	47.4%	48.1%	50.7%	49.1%	49.3%	48.8%	47.1%	46.7%	49.4%	46.7%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	1.1B	1.2B	1.6B	1.4B	1.6B	1.8B	1.8B	1.9B	2.3B	2.6B
Operating expenses	1.1B	1.2B	1.6B	1.4B	1.6B	1.8B	1.8B	1.9B	2.3B	2.6B
Operating income	4.6B	5.3B	5.5B	5.6B	6.3B	7.5B	6.5B	6.3B	7.5B	7.9B
Operating margin	37.8%	38.7%	38.9%	38.8%	39%	38.6%	36.3%	35.5%	36.9%	32.7%
Non-operating income, net	-13M	148M	-59M	258M	354M	803M	-139M	641M	528M	-230M
Pretax income	4.5B	5.3B	5.4B	5.8B	6.5B	8.2B	6.3B	7.2B	8.3B	7.6B
Income tax	1.3B	270M	1.1B	1.3B	1.2B	2B	1.3B	1.5B	1.8B	1.7B
Net income	3.2B	5B	4.3B	4.5B	5.3B	6.2B	5B	5.7B	6.5B	5.9B
Net margin	25.8%	36.7%	30.3%	31.1%	32.6%	32%	27.9%	31.8%	31.9%	24.5%
EBITDA	4.9B	5.6B	5.8B	6B	6.7B	8B	7.1B	7.2B	8.8B	9.5B
EPS	19.2	30.4	26.8	28.6	32	38.6	34.3	36.9	42.5	35.8
Diluted EPS	19	30	26.5	28.3	31.7	38.1	34	36.5	42	35.3

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	4.5B	4.6B	4.7B	4.8B	5.2B	5.7B	5.3B	5.4B	6.5B	7B	6.7B	7.1B
Cost of revenue	2.4B	2.3B	2.5B	2.4B	2.5B	2.9B	2.8B	2.8B	3.5B	3.8B	3.5B	3.6B
Gross profit	2.1B	2.3B	2.3B	2.4B	2.7B	2.8B	2.5B	2.6B	3B	3.2B	3.2B	3.5B
Gross margin	47.3%	49.4%	47.8%	49.4%	51.1%	49.3%	47.9%	47.9%	45.9%	45.6%	48%	49%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	464M	604M	534M	531M	561M	631M	623M	609M	692M	702M	678M	720M
Operating expenses	464M	604M	534M	531M	561M	631M	623M	609M	692M	702M	678M	720M
Operating income	1.6B	1.6B	1.7B	1.8B	2B	2B	1.8B	1.9B	2B	2.2B	2.3B	2.5B
Operating margin	36.1%	35.5%	35.7%	37.5%	38.6%	35.9%	33.9%	34.1%	31.4%	31.8%	33.8%	34.9%
Non-operating income, net	117M	206M	176M	159M	176M	17M	-30M	431M	-26M	-605M	625M	272M
Pretax income	1.8B	1.9B	1.9B	2B	2.3B	2.1B	1.8B	2.3B	2B	1.6B	2.8B	2.7B
Income tax	213M	438M	290M	477M	574M	442M	248M	587M	470M	372M	516M	677M
Net income	1.6B	1.5B	1.6B	1.5B	1.7B	1.7B	1.5B	1.7B	1.5B	1.2B	2.3B	2B
Net margin	35.3%	32.2%	34.3%	32%	32.5%	29.3%	28.7%	30.7%	23.5%	17.6%	34.7%	28.8%
EBITDA	1.9B	1.9B	1.9B	2.1B	2.4B	2.5B	2.2B	2.2B	2.5B	2.6B	2.7B	3B
EPS	9.33	9.25	10.6	10.1	11	10.8	9.74	10.3	8.54	7.27	14.2	12.3
Diluted EPS	9.25	9.15	10.5	9.99	10.9	10.6	9.64	10.2	8.43	7.16	14.1	12.2

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	6.2B	7B	6.5B	4.8B	8.7B	9.3B	8.7B	10.6B	14.6B	14.3B
Receivables	2.1B	2.7B	2.7B	3.2B	3.5B	3.8B	3.3B	3.9B	4.3B	—
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	37.1B	35.4B	29.8B	23.5B	28.7B	20.2B	17.9B	19.2B	25.2B	27.4B
Property, plant & equipment	497M	530M	580M	652M	1.3B	2.3B	2.5B	2.5B	2.6B	3.1B
Goodwill & intangibles	61B	61.2B	62.7B	65.9B	65.6B	67.6B	67.3B	67.6B	93.4B	126.5B
Total assets	220.2B	220.2B	159.6B	168.6B	177B	152.6B	117.6B	123.2B	138.6B	170B
Accounts payable	880M	1.2B	1.3B	1.2B	—	—	—	—	—	—
Short-term debt	—	—	—	—	—	—	—	—	—	—
Total current liabilities	880M	1.2B	1.3B	1.2B	1B	1.4B	1.3B	1.2B	1.5B	1.7B
Long-term debt	4.9B	5B	5B	5B	8B	9.3B	8.5B	9.7B	14.2B	15B
Total liabilities	190.8B	188B	126B	133.7B	139.3B	113.8B	78.8B	82B	89.3B	108.5B
Shareholders' equity	29.3B	32.3B	33.5B	34.9B	37.7B	38.9B	38.8B	41.2B	49.4B	61.5B
Total debt	4.9B	5B	5B	5B	8B	9.3B	8.5B	9.7B	14.2B	15B
Net debt	-1.3B	-2B	-1.5B	126M	-645M	-5M	1.1B	966M	1.5B	3.5B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	7.3B	10.6B	11.1B	12.2B	16B	14.6B	9.7B	11.7B	12.6B	14.3B	13.1B	13.9B
Receivables	3.9B	3.9B	4B	4B	4.4B	4.3B	4.3B	4.4B	4.8B	5.2B	5.2B	5.4B
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	15.9B	19.2B	19.7B	21.5B	27B	25.2B	20B	22.5B	23.7B	27.4B	25B	25.7B
Property, plant & equipment	2.5B	2.5B	2.5B	2.5B	2.5B	2.6B	2.6B	2.7B	3.1B	3.1B	3.1B	3.2B
Goodwill & intangibles	67.6B	67.6B	67.5B	67.7B	67.6B	93.4B	100.3B	100B	127B	126.5B	126B	125.2B
Total assets	118.6B	123.2B	124B	125.3B	132.8B	138.6B	141.9B	146.5B	162.7B	170B	170.2B	175.9B
Accounts payable	—	—	—	—	—	—	—	—	—	—	—	—
Short-term debt	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	1.2B	1.2B	1.4B	1.4B	1.4B	1.5B	1.6B	1.7B	1.6B	1.7B	2.1B	2B
Long-term debt	9.7B	9.7B	11.6B	11.7B	14.2B	14.2B	14.3B	14.7B	15B	15B	15B	15B
Total liabilities	78B	82B	82.2B	83B	89.2B	89.3B	91.8B	94.9B	100.8B	108.5B	106.9B	111.3B
Shareholders' equity	40.6B	41.2B	41.7B	42.2B	43.6B	49.4B	50.2B	51.6B	61.9B	61.5B	63.3B	64.5B
Total debt	9.7B	9.7B	11.6B	11.7B	14.2B	14.2B	14.3B	14.7B	15B	15B	15B	15B
Net debt	2.3B	966M	2.3B	1.4B	142M	1.5B	6.5B	5.2B	5.1B	3.5B	5.1B	4.5B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	3.2B	5B	4.3B	4.5B	5.3B	6.2B	5B	5.7B	6.5B	5.9B
Depreciation & amortization	263M	240M	220M	296M	358M	415M	418M	427M	529M	1.1B
Stock-based compensation	521M	542M	564M	567M	622M	734M	708M	630M	753M	1.3B
Change in working capital	-746M	267M	53M	-497M	284M	316M	-746M	-320M	-83M	-264M
Operating cash flow	2.4B	4.3B	3B	3.3B	4.7B	5.3B	5B	4.9B	5B	3.9B
Capital expenditure	-119M	-155M	-204M	-254M	-194M	-341M	-533M	-344M	-255M	—
Investing cash flow	-405M	-640M	-832M	-2.1B	-437M	-2B	-1.2B	-1B	-3.4B	-4.4B
Dividends paid	-1.5B	-1.7B	-2B	-2.1B	-2.3B	-2.5B	-3B	-3B	-3.1B	-3.3B
Share repurchases	-1.4B	-1.4B	-2.1B	-1.9B	-1.8B	-1.5B	-2.3B	-1.9B	-1.9B	-2B
Financing cash flow	-1.7B	-2.6B	-2.8B	-2.6B	244M	-2.3B	-5.5B	-2.1B	1.8B	-1.3B
Net change in cash	239M	985M	-607M	-1.4B	4.5B	981M	-1.7B	1.8B	3.4B	-1.8B
Free cash flow	2.2B	3.8B	2.9B	2.6B	3.5B	4.6B	4.4B	3.8B	4.7B	3.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	1.6B	1.5B	1.6B	1.5B	1.7B	1.7B	1.5B	1.7B	1.5B	1.2B	2.3B	2B
Depreciation & amortization	108M	111M	111M	108M	110M	200M	194M	217M	346M	369M	380M	385M
Stock-based compensation	146M	161M	176M	179M	156M	242M	241M	226M	419M	421M	319M	302M
Change in working capital	158M	792M	-1.2B	231M	282M	739M	-2.1B	502M	827M	530M	-2.1B	291M
Operating cash flow	1.6B	2.3B	-240M	1.6B	1.4B	2.4B	-1.1B	1.7B	1.4B	2.3B	-980M	1.2B
Capital expenditure	-78M	-124M	-64M	-7M	-94M	-90M	-78M	-89M	—	—	—	—
Investing cash flow	-279M	-206M	-184M	8M	-101M	-3.1B	-3.3B	-196M	-880M	-175M	-264M	-375M
Dividends paid	-748M	-743M	-795M	-758M	-757M	-791M	-838M	-808M	-851M	-850M	-973M	-933M
Share repurchases	-396M	-384M	-634M	-519M	-391M	-386M	-657M	-396M	-384M	-514M	-810M	-461M
Financing cash flow	-759M	-547M	951M	-660M	2.3B	-795M	-712M	-21M	41M	-602M	-378M	-131M
Net change in cash	543M	1.5B	527M	940M	3.6B	-1.5B	-5.2B	1.5B	575M	1.5B	-1.6B	721M
Free cash flow	1.5B	1.9B	-472M	1.4B	1.3B	2.5B	-1.2B	1.3B	1.3B	2.1B	-1.1B	1.1B

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	62.8B	83.6B	63.2B	78.7B	111.2B	139.9B	106.9B	121.2B	153.8B	165.9B	174.1B
Enterprise value	61.6B	81.6B	61.7B	78.9B	110.5B	139.9B	106.7B	120.3B	153.4B	166.6B	176.3B
Shares outstanding	165.1M	162.8M	160.9M	156.6M	154.1M	152.8M	150.9M	149.3M	150M	155M	155M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	19.8	16.8	14.7	17.4	21	22.6	21.4	21.4	23.6	27.9	26
P/S	5.12	6.15	4.45	5.42	6.86	7.22	5.98	6.79	7.53	6.85	6.47
P/B	2.14	2.59	1.88	2.25	2.95	3.6	2.76	2.94	3.12	2.7	2.92
EV/EBITDA	12.5	14.7	10.6	13.1	16.4	17.5	15.1	16.6	17.4	17.6	15.9
EV/Sales	5.02	6	4.35	5.42	6.82	7.22	5.97	6.74	7.52	6.88	6.46
Earnings yield	5.04%	5.97%	6.8%	5.75%	4.75%	4.43%	4.67%	4.68%	4.23%	3.58%	3.84%
FCF yield	3.43%	4.54%	4.54%	3.34%	3.19%	3.29%	4.14%	3.15%	3.06%	2.14%	4.35%
PEG	—	—	—	—	—	—	—	—	—	—	1.31

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	47.4%	48.1%	50.7%	49.1%	49.3%	48.8%	47.1%	46.7%	49.4%	46.7%	49%
Operating margin	37.8%	38.7%	38.9%	38.8%	39%	38.6%	36.3%	35.5%	36.9%	32.7%	35.1%
Net margin	25.8%	36.7%	30.3%	31.1%	32.6%	32%	27.9%	31.8%	31.9%	24.5%	24.1%
ROE	10.8%	15.5%	12.8%	13%	14%	16%	12.9%	13.8%	13.2%	9.66%	12.3%
ROA	1.44%	2.27%	2.7%	2.68%	2.99%	4.06%	4.25%	4.61%	4.7%	3.5%	3.74%
ROIC	11.7%	16.5%	13.8%	12.6%	13.8%	14.6%	13.4%	12.5%	12.1%	9.9%	10.7%
Return on tangible assets	1.99%	3.14%	4.44%	4.4%	4.75%	7.3%	9.92%	10.2%	14.4%	13.7%	14.1%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	42.1	30.5	23.1	20.1	27.9	14.5	13.8	15.5	16.4	15.8	2.45
Quick ratio	42.1	30.5	23.1	20.1	27.9	14.5	13.8	15.5	16.4	15.8	12.8
Debt / equity	0.17	0.16	0.15	0.14	0.21	0.24	0.22	0.24	0.29	0.24	0.23
Debt / assets	0.02	0.02	0.03	0.03	0.05	0.06	0.07	0.08	0.1	0.09	0.09
Net debt / EBITDA	-0.26	-0.36	-0.26	0.02	-0.1	-0	-0.04	-0.13	-0.04	0.08	0.1
Interest coverage	22.7	26.7	30.2	29.5	32.8	40.9	30.7	25.5	16.4	13.4	17.9
Effective tax rate	28.9%	5.13%	20%	21.8%	19%	24.1%	20.6%	20.7%	21.5%	22%	22.2%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	74.3	83.5	88.2	92.8	105.2	126.8	118.4	119.6	136	156.2	176
EPS (basic)	19.2	30.4	26.8	28.6	32	38.6	34.3	36.9	42.5	35.8	35.8
EPS (diluted)	19	30	26.5	28.3	31.7	38.1	34	36.5	42	35.3	41.7
Book value per share	177.7	198.2	208.4	223	244.4	254.5	257	276.2	329	397	371.7
FCF per share	13	23.3	17.8	16.8	23	30.1	29.3	25.6	31.3	22.9	21.4
Cash per share	37.4	43.2	40.3	30.8	56.2	61	58	71	97.2	92	89.4
Capex per share	0.72	0.95	1.27	1.62	1.26	2.23	3.53	2.3	1.7	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.97%	1.14%	1.44%	1.75%	1.2%	1.76%	2.98%	1.93%	1.25%	—	—
Capex / operating cash flow	5.05%	3.64%	6.82%	7.64%	4.11%	6.43%	10.8%	7.02%	5.07%	—	—
Payout ratio	48.8%	33.3%	45.7%	46.3%	42.8%	41%	59.9%	53.5%	47.6%	56.3%	52.4%
Dividend yield	2.46%	1.99%	3.11%	2.66%	2.03%	1.82%	2.8%	2.5%	2.02%	2.02%	2.14%

Yield

2.14%

trailing twelve months

Frequency

Quarterly

Last dividend

$5.73

ex-dividend Sep 8, 2026

Payout ratio

52%

of earnings

Dividend growth

11 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 8, 2026	$5.73
Jun 5, 2026	$5.73
Mar 6, 2026	$5.73
Dec 5, 2025	$5.21
Sep 5, 2025	$5.21
Jun 5, 2025	$5.21
Mar 7, 2025	$5.21
Dec 5, 2024	$5.10

Split history

Date	Ratio
Jun 5, 2007	1:1

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$12.7	$13.9	+9.6%	—	$7.1B	—
Q1 26	$11.5	$12.5	+9.3%	—	$6.7B	—
Q3 25	$11.3	$11.6	+2.3%	—	$6.5B	—
Q2 25	$10.8	$12.1	+11.5%	—	$5.4B	—
Q1 25	$10.1	$11.3	+11.5%	—	$5.3B	—
Q4 24	$11.2	$11.9	+6.3%	—	$5.7B	—
Q3 24	$10.3	$11.5	+11.2%	—	$5.2B	—
Q2 24	$9.96	$10.4	+4.0%	—	$4.8B	—
Q1 24	$9.39	$9.81	+4.5%	—	$4.7B	—
Q4 23	$8.88	$9.66	+8.8%	—	$4.6B	—
Q3 23	$8.34	$10.9	+30.8%	—	$4.5B	—
Q2 23	$8.47	$9.28	+9.6%	—	$4.5B	—
Q1 23	$7.73	$7.93	+2.6%	—	$4.2B	—
Q4 22	$8.1	$8.93	+10.2%	—	$4.3B	—
Q3 22	$7.06	$9.55	+35.3%	—	$4.3B	—
Q2 22	$8.02	$7.36	-8.2%	—	$4.5B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$35.8	—	—	$24.2B	—
FY24	—	$42.5	—	—	$20.4B	—
FY23	—	$36.9	—	—	$17.9B	—
FY22	—	$34.3	—	—	$17.9B	—
FY21	—	$38.6	—	—	$19.4B	—
FY20	—	$32	—	—	$16.2B	—
FY19	—	$28.6	—	—	$14.5B	—
FY18	—	$26.8	—	—	$14.2B	—
FY17	—	$30.4	—	—	$13.6B	—
FY16	—	$19.2	—	—	$12.3B	—

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$12.3B	$13.6B	$14.2B	$14.5B	$16.2B	$19.4B	$17.9B	$17.9B	$20.4B	$24.2B
YoY change	+7.54%	+10.9%	+4.4%	+2.4%	+11.5%	+19.6%	-7.75%	-0.08%	+14.3%	+18.7%

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$4.5B	$4.6B	$4.7B	$4.8B	$5.2B	$5.7B	$5.3B	$5.4B	$6.5B	$7B	$6.7B	$7.1B
YoY change	+4.89%	+6.78%	+11.4%	+7.66%	+14.9%	+22.6%	+11.6%	+12.9%	+25.2%	+23.4%	+27%	+30.6%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	12.3B	13.6B	14.2B	14.5B	16.2B	19.4B	17.9B	17.9B	20.4B	24.2B
Cost of revenue	6.5B	7.1B	7B	7.4B	8.2B	9.9B	9.4B	9.5B	10.3B	12.9B
Gross profit	5.8B	6.5B	7.2B	7.1B	8B	9.5B	8.4B	8.3B	10.1B	11.3B
Gross margin	47.4%	48.1%	50.7%	49.1%	49.3%	48.8%	47.1%	46.7%	49.4%	46.7%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	1.1B	1.2B	1.6B	1.4B	1.6B	1.8B	1.8B	1.9B	2.3B	2.6B
Operating expenses	1.1B	1.2B	1.6B	1.4B	1.6B	1.8B	1.8B	1.9B	2.3B	2.6B
Operating income	4.6B	5.3B	5.5B	5.6B	6.3B	7.5B	6.5B	6.3B	7.5B	7.9B
Operating margin	37.8%	38.7%	38.9%	38.8%	39%	38.6%	36.3%	35.5%	36.9%	32.7%
Non-operating income, net	-13M	148M	-59M	258M	354M	803M	-139M	641M	528M	-230M
Pretax income	4.5B	5.3B	5.4B	5.8B	6.5B	8.2B	6.3B	7.2B	8.3B	7.6B
Income tax	1.3B	270M	1.1B	1.3B	1.2B	2B	1.3B	1.5B	1.8B	1.7B
Net income	3.2B	5B	4.3B	4.5B	5.3B	6.2B	5B	5.7B	6.5B	5.9B
Net margin	25.8%	36.7%	30.3%	31.1%	32.6%	32%	27.9%	31.8%	31.9%	24.5%
EBITDA	4.9B	5.6B	5.8B	6B	6.7B	8B	7.1B	7.2B	8.8B	9.5B
EPS	19.2	30.4	26.8	28.6	32	38.6	34.3	36.9	42.5	35.8
Diluted EPS	19	30	26.5	28.3	31.7	38.1	34	36.5	42	35.3

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	4.5B	4.6B	4.7B	4.8B	5.2B	5.7B	5.3B	5.4B	6.5B	7B	6.7B	7.1B
Cost of revenue	2.4B	2.3B	2.5B	2.4B	2.5B	2.9B	2.8B	2.8B	3.5B	3.8B	3.5B	3.6B
Gross profit	2.1B	2.3B	2.3B	2.4B	2.7B	2.8B	2.5B	2.6B	3B	3.2B	3.2B	3.5B
Gross margin	47.3%	49.4%	47.8%	49.4%	51.1%	49.3%	47.9%	47.9%	45.9%	45.6%	48%	49%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	464M	604M	534M	531M	561M	631M	623M	609M	692M	702M	678M	720M
Operating expenses	464M	604M	534M	531M	561M	631M	623M	609M	692M	702M	678M	720M
Operating income	1.6B	1.6B	1.7B	1.8B	2B	2B	1.8B	1.9B	2B	2.2B	2.3B	2.5B
Operating margin	36.1%	35.5%	35.7%	37.5%	38.6%	35.9%	33.9%	34.1%	31.4%	31.8%	33.8%	34.9%
Non-operating income, net	117M	206M	176M	159M	176M	17M	-30M	431M	-26M	-605M	625M	272M
Pretax income	1.8B	1.9B	1.9B	2B	2.3B	2.1B	1.8B	2.3B	2B	1.6B	2.8B	2.7B
Income tax	213M	438M	290M	477M	574M	442M	248M	587M	470M	372M	516M	677M
Net income	1.6B	1.5B	1.6B	1.5B	1.7B	1.7B	1.5B	1.7B	1.5B	1.2B	2.3B	2B
Net margin	35.3%	32.2%	34.3%	32%	32.5%	29.3%	28.7%	30.7%	23.5%	17.6%	34.7%	28.8%
EBITDA	1.9B	1.9B	1.9B	2.1B	2.4B	2.5B	2.2B	2.2B	2.5B	2.6B	2.7B	3B
EPS	9.33	9.25	10.6	10.1	11	10.8	9.74	10.3	8.54	7.27	14.2	12.3
Diluted EPS	9.25	9.15	10.5	9.99	10.9	10.6	9.64	10.2	8.43	7.16	14.1	12.2

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	6.2B	7B	6.5B	4.8B	8.7B	9.3B	8.7B	10.6B	14.6B	14.3B
Receivables	2.1B	2.7B	2.7B	3.2B	3.5B	3.8B	3.3B	3.9B	4.3B	—
Inventory	—	—	—	—	—	—	—	—	—	—
Total current assets	37.1B	35.4B	29.8B	23.5B	28.7B	20.2B	17.9B	19.2B	25.2B	27.4B
Property, plant & equipment	497M	530M	580M	652M	1.3B	2.3B	2.5B	2.5B	2.6B	3.1B
Goodwill & intangibles	61B	61.2B	62.7B	65.9B	65.6B	67.6B	67.3B	67.6B	93.4B	126.5B
Total assets	220.2B	220.2B	159.6B	168.6B	177B	152.6B	117.6B	123.2B	138.6B	170B
Accounts payable	880M	1.2B	1.3B	1.2B	—	—	—	—	—	—
Short-term debt	—	—	—	—	—	—	—	—	—	—
Total current liabilities	880M	1.2B	1.3B	1.2B	1B	1.4B	1.3B	1.2B	1.5B	1.7B
Long-term debt	4.9B	5B	5B	5B	8B	9.3B	8.5B	9.7B	14.2B	15B
Total liabilities	190.8B	188B	126B	133.7B	139.3B	113.8B	78.8B	82B	89.3B	108.5B
Shareholders' equity	29.3B	32.3B	33.5B	34.9B	37.7B	38.9B	38.8B	41.2B	49.4B	61.5B
Total debt	4.9B	5B	5B	5B	8B	9.3B	8.5B	9.7B	14.2B	15B
Net debt	-1.3B	-2B	-1.5B	126M	-645M	-5M	1.1B	966M	1.5B	3.5B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	7.3B	10.6B	11.1B	12.2B	16B	14.6B	9.7B	11.7B	12.6B	14.3B	13.1B	13.9B
Receivables	3.9B	3.9B	4B	4B	4.4B	4.3B	4.3B	4.4B	4.8B	5.2B	5.2B	5.4B
Inventory	—	—	—	—	—	—	—	—	—	—	—	—
Total current assets	15.9B	19.2B	19.7B	21.5B	27B	25.2B	20B	22.5B	23.7B	27.4B	25B	25.7B
Property, plant & equipment	2.5B	2.5B	2.5B	2.5B	2.5B	2.6B	2.6B	2.7B	3.1B	3.1B	3.1B	3.2B
Goodwill & intangibles	67.6B	67.6B	67.5B	67.7B	67.6B	93.4B	100.3B	100B	127B	126.5B	126B	125.2B
Total assets	118.6B	123.2B	124B	125.3B	132.8B	138.6B	141.9B	146.5B	162.7B	170B	170.2B	175.9B
Accounts payable	—	—	—	—	—	—	—	—	—	—	—	—
Short-term debt	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	1.2B	1.2B	1.4B	1.4B	1.4B	1.5B	1.6B	1.7B	1.6B	1.7B	2.1B	2B
Long-term debt	9.7B	9.7B	11.6B	11.7B	14.2B	14.2B	14.3B	14.7B	15B	15B	15B	15B
Total liabilities	78B	82B	82.2B	83B	89.2B	89.3B	91.8B	94.9B	100.8B	108.5B	106.9B	111.3B
Shareholders' equity	40.6B	41.2B	41.7B	42.2B	43.6B	49.4B	50.2B	51.6B	61.9B	61.5B	63.3B	64.5B
Total debt	9.7B	9.7B	11.6B	11.7B	14.2B	14.2B	14.3B	14.7B	15B	15B	15B	15B
Net debt	2.3B	966M	2.3B	1.4B	142M	1.5B	6.5B	5.2B	5.1B	3.5B	5.1B	4.5B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	3.2B	5B	4.3B	4.5B	5.3B	6.2B	5B	5.7B	6.5B	5.9B
Depreciation & amortization	263M	240M	220M	296M	358M	415M	418M	427M	529M	1.1B
Stock-based compensation	521M	542M	564M	567M	622M	734M	708M	630M	753M	1.3B
Change in working capital	-746M	267M	53M	-497M	284M	316M	-746M	-320M	-83M	-264M
Operating cash flow	2.4B	4.3B	3B	3.3B	4.7B	5.3B	5B	4.9B	5B	3.9B
Capital expenditure	-119M	-155M	-204M	-254M	-194M	-341M	-533M	-344M	-255M	—
Investing cash flow	-405M	-640M	-832M	-2.1B	-437M	-2B	-1.2B	-1B	-3.4B	-4.4B
Dividends paid	-1.5B	-1.7B	-2B	-2.1B	-2.3B	-2.5B	-3B	-3B	-3.1B	-3.3B
Share repurchases	-1.4B	-1.4B	-2.1B	-1.9B	-1.8B	-1.5B	-2.3B	-1.9B	-1.9B	-2B
Financing cash flow	-1.7B	-2.6B	-2.8B	-2.6B	244M	-2.3B	-5.5B	-2.1B	1.8B	-1.3B
Net change in cash	239M	985M	-607M	-1.4B	4.5B	981M	-1.7B	1.8B	3.4B	-1.8B
Free cash flow	2.2B	3.8B	2.9B	2.6B	3.5B	4.6B	4.4B	3.8B	4.7B	3.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	1.6B	1.5B	1.6B	1.5B	1.7B	1.7B	1.5B	1.7B	1.5B	1.2B	2.3B	2B
Depreciation & amortization	108M	111M	111M	108M	110M	200M	194M	217M	346M	369M	380M	385M
Stock-based compensation	146M	161M	176M	179M	156M	242M	241M	226M	419M	421M	319M	302M
Change in working capital	158M	792M	-1.2B	231M	282M	739M	-2.1B	502M	827M	530M	-2.1B	291M
Operating cash flow	1.6B	2.3B	-240M	1.6B	1.4B	2.4B	-1.1B	1.7B	1.4B	2.3B	-980M	1.2B
Capital expenditure	-78M	-124M	-64M	-7M	-94M	-90M	-78M	-89M	—	—	—	—
Investing cash flow	-279M	-206M	-184M	8M	-101M	-3.1B	-3.3B	-196M	-880M	-175M	-264M	-375M
Dividends paid	-748M	-743M	-795M	-758M	-757M	-791M	-838M	-808M	-851M	-850M	-973M	-933M
Share repurchases	-396M	-384M	-634M	-519M	-391M	-386M	-657M	-396M	-384M	-514M	-810M	-461M
Financing cash flow	-759M	-547M	951M	-660M	2.3B	-795M	-712M	-21M	41M	-602M	-378M	-131M
Net change in cash	543M	1.5B	527M	940M	3.6B	-1.5B	-5.2B	1.5B	575M	1.5B	-1.6B	721M
Free cash flow	1.5B	1.9B	-472M	1.4B	1.3B	2.5B	-1.2B	1.3B	1.3B	2.1B	-1.1B	1.1B

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	62.8B	83.6B	63.2B	78.7B	111.2B	139.9B	106.9B	121.2B	153.8B	165.9B	174.1B
Enterprise value	61.6B	81.6B	61.7B	78.9B	110.5B	139.9B	106.7B	120.3B	153.4B	166.6B	176.3B
Shares outstanding	165.1M	162.8M	160.9M	156.6M	154.1M	152.8M	150.9M	149.3M	150M	155M	155M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	19.8	16.8	14.7	17.4	21	22.6	21.4	21.4	23.6	27.9	26
P/S	5.12	6.15	4.45	5.42	6.86	7.22	5.98	6.79	7.53	6.85	6.47
P/B	2.14	2.59	1.88	2.25	2.95	3.6	2.76	2.94	3.12	2.7	2.92
EV/EBITDA	12.5	14.7	10.6	13.1	16.4	17.5	15.1	16.6	17.4	17.6	15.9
EV/Sales	5.02	6	4.35	5.42	6.82	7.22	5.97	6.74	7.52	6.88	6.46
Earnings yield	5.04%	5.97%	6.8%	5.75%	4.75%	4.43%	4.67%	4.68%	4.23%	3.58%	3.84%
FCF yield	3.43%	4.54%	4.54%	3.34%	3.19%	3.29%	4.14%	3.15%	3.06%	2.14%	4.35%
PEG	—	—	—	—	—	—	—	—	—	—	1.31

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	47.4%	48.1%	50.7%	49.1%	49.3%	48.8%	47.1%	46.7%	49.4%	46.7%	49%
Operating margin	37.8%	38.7%	38.9%	38.8%	39%	38.6%	36.3%	35.5%	36.9%	32.7%	35.1%
Net margin	25.8%	36.7%	30.3%	31.1%	32.6%	32%	27.9%	31.8%	31.9%	24.5%	24.1%
ROE	10.8%	15.5%	12.8%	13%	14%	16%	12.9%	13.8%	13.2%	9.66%	12.3%
ROA	1.44%	2.27%	2.7%	2.68%	2.99%	4.06%	4.25%	4.61%	4.7%	3.5%	3.74%
ROIC	11.7%	16.5%	13.8%	12.6%	13.8%	14.6%	13.4%	12.5%	12.1%	9.9%	10.7%
Return on tangible assets	1.99%	3.14%	4.44%	4.4%	4.75%	7.3%	9.92%	10.2%	14.4%	13.7%	14.1%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	42.1	30.5	23.1	20.1	27.9	14.5	13.8	15.5	16.4	15.8	2.45
Quick ratio	42.1	30.5	23.1	20.1	27.9	14.5	13.8	15.5	16.4	15.8	12.8
Debt / equity	0.17	0.16	0.15	0.14	0.21	0.24	0.22	0.24	0.29	0.24	0.23
Debt / assets	0.02	0.02	0.03	0.03	0.05	0.06	0.07	0.08	0.1	0.09	0.09
Net debt / EBITDA	-0.26	-0.36	-0.26	0.02	-0.1	-0	-0.04	-0.13	-0.04	0.08	0.1
Interest coverage	22.7	26.7	30.2	29.5	32.8	40.9	30.7	25.5	16.4	13.4	17.9
Effective tax rate	28.9%	5.13%	20%	21.8%	19%	24.1%	20.6%	20.7%	21.5%	22%	22.2%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	74.3	83.5	88.2	92.8	105.2	126.8	118.4	119.6	136	156.2	176
EPS (basic)	19.2	30.4	26.8	28.6	32	38.6	34.3	36.9	42.5	35.8	35.8
EPS (diluted)	19	30	26.5	28.3	31.7	38.1	34	36.5	42	35.3	41.7
Book value per share	177.7	198.2	208.4	223	244.4	254.5	257	276.2	329	397	371.7
FCF per share	13	23.3	17.8	16.8	23	30.1	29.3	25.6	31.3	22.9	21.4
Cash per share	37.4	43.2	40.3	30.8	56.2	61	58	71	97.2	92	89.4
Capex per share	0.72	0.95	1.27	1.62	1.26	2.23	3.53	2.3	1.7	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.97%	1.14%	1.44%	1.75%	1.2%	1.76%	2.98%	1.93%	1.25%	—	—
Capex / operating cash flow	5.05%	3.64%	6.82%	7.64%	4.11%	6.43%	10.8%	7.02%	5.07%	—	—
Payout ratio	48.8%	33.3%	45.7%	46.3%	42.8%	41%	59.9%	53.5%	47.6%	56.3%	52.4%
Dividend yield	2.46%	1.99%	3.11%	2.66%	2.03%	1.82%	2.8%	2.5%	2.02%	2.02%	2.14%

Yield

2.14%

trailing twelve months

Frequency

Quarterly

Last dividend

$5.73

ex-dividend Sep 8, 2026

Payout ratio

52%

of earnings

Dividend growth

11 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 8, 2026	$5.73
Jun 5, 2026	$5.73
Mar 6, 2026	$5.73
Dec 5, 2025	$5.21
Sep 5, 2025	$5.21
Jun 5, 2025	$5.21
Mar 7, 2025	$5.21
Dec 5, 2024	$5.10

Split history

Date	Ratio
Jun 5, 2007	1:1

BlackRock Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history

BlackRock Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history