BlackRock
BLK Financial Asset Management
BlackRock’s revenue for fiscal 2025 (year ended December 2025) was $24.2 billion, up 18.7% from fiscal 2024. In the quarter to September 2026, revenue grew 19.1%, EPS grew 45.2%, free cash flow fell 12.3% and total debt was flat, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years.
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BlackRock (BLK) Net margin
BlackRock's net margin over the twelve months to 30 September 2026 was 24.2%, up 1.3 percentage points from fiscal 2025 (22.9%). Over the past ten years it has ranged from 22.9% (fiscal 2025) to 36.4% (fiscal 2017) — the current reading is the lowest in ten years. That is above the Asset Management industry median of 13.4% and above the Financial sector median of 13.5%.
Net margin, annual
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Annual newest first
| Period | Net margin | Change (points) |
|---|---|---|
| FY2025 | 22.9% | (8.28) |
| FY2024 | 31.2% | 0.40 |
| FY2023 | 30.8% | 1.84 |
| FY2022 | 29.0% | (1.49) |
| FY2021 | 30.5% | 0.02 |
| FY2020 | 30.4% | (0.35) |
| FY2019 | 30.8% | 0.47 |
| FY2018 | 30.3% | (6.09) |
| FY2017 | 36.4% | 10.57 |
| FY2016 | 25.8% | (3.50) |
Quarterly newest first
| Period | Net margin | Change (points) |
|---|---|---|
| Sep 2026 | 21.4% | (5.62) |
| Jun 2026 | 27.0% | (6.00) |
| Mar 2026 | 33.0% | 16.94 |
| Dec 2025 | 16.1% | (4.25) |
| 43 more quarters | Free account |
Against its own ten years
Net margin against peers
| Company | Net margin |
|---|---|
| BAM Brookfield Asset Management Ltd. compare | 48.9% |
| BLK BlackRock | 24.2% |
| BX Blackstone Inc. compare | 21.8% |
| AMP Ameriprise Financial, Inc. compare | 20.2% |
| STT State Street Corporation compare | 14.8% |
| NTRS Northern Trust Corporation compare | 14.4% |
| KKR KKR & Co. Inc. compare | 14.0% |
| ARES Ares Management Corporation compare | 8.94% |
| APO Apollo Global Management Inc. compare | 4.95% |
| Asset Management industry median | 13.4% |
| Financial sector median | 13.5% |
| Market median | 0.45% |
What Net margin is
Net Profit Margin tells an investor how much of each unit of revenue ends up as profit for shareholders after all costs, interest and taxes.
Net Income Allotted to Shareholders ÷ Revenue
More on BLK
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- The full statement