BlackRock

Financials Asset Management & Custody Banks New York City, New York Last filing Feb 25, 2026 · FY2025

                    Revenue
                    FY2024
                
$12.8B
                    
                    +16.2%
                    
                    Net income
                    FY2025
                
$5.6B
                    
                    -12.8%
                    
                    Total assets
                    FY2025
                
$170.0B
                    ROA +3.3%
                    
                    P56
                    
                    +22.6%
                    
                    Operating cash flow
                    FY2025
                
$3.9B
                    
                    -20.8%

4 yrs · FY2022–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y

Dollars % of revenue % of assets YoY % CAGR

Balance Sheet

Assets, liabilities, and equity

26 accounts · 3 years

Total assets $170.0B

Total liabilities $108.5B

Shareholders equity $55.9B

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	$11.5B -10.1%	$12.8B 45.8%	$8.8B
Short Term Investments	$2.3B 17.0%	$1.9B	$0
Accounts Receivable	$5.2B 19.8%	$4.3B	—
Other Current Assets	$5.7B 58.5%	$3.6B	—
Property,Plant and Equipment	$1.3B 13.9%	$1.1B	$0
Operating Lease Assets	$1.9B 23.4%	$1.5B	—
Goodwill	$35.3B 36.0%	$25.9B 67.2%	$15.5B
Intangible Assets	$28.0B 34.8%	$20.7B	$0
Other Noncurrent Assets	$5.7B 58.5%	$3.6B	—
Total Assets	$170.0B 22.6%	$138.6B	—
Liabilities
Current Portion of Long Term Debt	$12.8B 3.7%	$12.3B	—
Operating Lease Liabilities	$2.2B 16.8%	$1.9B	—
Other Current Liabilities	$6.8B 69.2%	$4.0B	—
Total Current Liabilities	$108.5B 21.5%	$89.3B	—
Long Term Debt	$12.8B 3.7%	$12.3B	—
Operating Lease Liabilities Noncurrent	$2.2B 16.8%	$1.9B	—
Deferred Tax Liabilities	$4.6B 38.5%	$3.3B	—
Other Noncurrent Liabilities	$6.8B 69.2%	$4.0B	—
Total Liabilities	$108.5B 21.5%	$89.3B	—
Equity
Common Stock	$2.0M 0.0%	$2.0M	—
Additional Paid In Capital	$19.7B 46.9%	$13.4B 2034.3%	$630.0M
Treasury Stock	$1.2B 215.0%	$386.0M -74.4%	$1.5B
Accumulated Other Comprehensive Income	$-545.0M 53.7%	$-1.2B	—
Noncontrolling Interest	$227.0M 34.3%	$169.0M	—
Total Stockholders Equity	$55.9B 17.7%	$47.5B 20.2%	$39.5B
Total Liabilitiesand Equity	$170.0B 22.6%	$138.6B	—

Income Statement

Revenue, expense, and profitability

16 accounts · 3 years

Revenue $12.8B

Operating income $7.0B

Net income $5.6B

Account	2025	2024	2023
IncomeStatement
Expenses Selling,General and Administrative	$2.7B 21.0%	$2.3B 7.9%	$2.1B
Expenses Depreciation and Amortization	$297.0M 10.0%	$270.0M 2.7%	$263.0M
Expenses Share Based Compensation	$1.3B 73.6%	$753.0M 19.5%	$630.0M
Expenses Restructuring and Asset Impairment	$39.0M	$0 -100.0%	$61.0M
Expenses Operating Expenses	$17.2B 33.8%	$12.8B 10.8%	$11.6B
Other Income Expense Operating Income	$7.0B -7.0%	$7.6B 20.7%	$6.3B
Other Income Expense Interest Income	$554.0M -27.8%	$767.0M 62.2%	$473.0M
Other Income Expense Other Income/expense	$634.0M 28.9%	$492.0M -29.6%	$699.0M
Other Income Expense Income Before Tax	$7.6B -8.1%	$8.3B 15.9%	$7.2B
Income Tax Income Tax Expense	$1.7B -5.9%	$1.8B 20.6%	$1.5B
net Income net Income	$5.6B -12.8%	$6.4B 15.8%	$5.5B
net Income Comprehensive Income	$6.2B 2.1%	$6.0B 4.7%	$5.8B
Earnings Per Share Basic Eps	$36 -15.6%	$42 15.2%	$37
Earnings Per Share Diluted Eps	$35 -15.9%	$42 15.1%	$37
Earnings Per Share Weighted Average Shares Basic	$155.0M 3.3%	$150.0M 0.5%	$149.3M
Earnings Per Share Weighted Average Shares Diluted	$160.9M 6.1%	$151.6M 0.6%	$150.7M

Cash Flow Statement

Operating, investing, and financing flows

21 accounts · 3 years

Operating cash flow $3.9B

Investing cash flow $-4.4B

Financing cash flow $-1.1B

Account	2025	2024	2023
CashFlow
Operating Activities net Income	$5.6B -12.8%	$6.4B 15.8%	$5.5B
Operating Activities Depreciation and Amortization	$297.0M 10.0%	$270.0M 2.7%	$263.0M
Operating Activities Stock Based Compensation	$1.3B 73.6%	$753.0M 19.5%	$630.0M
Operating Activities Deferred Income Taxes	$-631.0M -495.3%	$-106.0M -185.5%	$124.0M
Operating Activities Changes In Operating Assets and Liabilities	$619.0M 39.7%	$443.0M -24.4%	$586.0M
Operating Activities Other Non Cash Items	$225.0M 158.9%	$-382.0M -201.9%	$375.0M
Operating Activities net Cash From Operating Activities	$3.9B -20.8%	$5.0B 19.0%	$4.2B
Investing Activities Capital Expenditures	$375.0M 47.1%	$255.0M -25.9%	$344.0M
Investing Activities Business Acquisitions	$3.5B 19.1%	$2.9B 1453.4%	$189.0M
Investing Activities Purchases of Investments	$1.4B 69.2%	$818.0M -3.3%	$846.0M
Investing Activities net Cash From Investing Activities	$-4.4B -47.1%	$-3.0B -213.2%	$-959.0M
Financing Activities Proceeds From Debt	$1.1B -80.3%	$5.5B 342.2%	$1.2B
Financing Activities Repayment of Debt	$796.0M -20.4%	$1.0B	$0
Financing Activities Proceeds From Stock Issuance	$167.0M -64.0%	$464.0M 388.4%	$95.0M
Financing Activities Tax Withholding On Stock Based Compensation	$326.0M 6.9%	$305.0M -18.7%	$375.0M
Financing Activities Other Financing Activities	$5.0M 127.8%	$-18.0M -169.2%	$26.0M
Financing Activities net Cash From Financing Activities	$-1.1B -150.4%	$2.2B 212.2%	$-2.0B
Cash Reconciliation Effect of Exchange Rate On Cash	$329.0M 303.1%	$-162.0M -252.8%	$106.0M
Cash Reconciliation net Change In Cash	$-1.3B -132.0%	$4.0B 205.0%	$1.3B
Cash Reconciliation Cash At Beginning of Period	$11.5B -10.1%	$12.8B 46.0%	$8.8B
Cash Reconciliation Cash At End of Period	$11.5B -10.1%	$12.8B 46.0%	$8.8B

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	—	—	—
Operating margin	—	+59.2%	+57.0%
Net margin	—	+49.8%	+50.0%
FCF margin	—	+36.7%	+34.7%
Growth
Revenue CAGR (3y)	—	—	—
Returns
ROE	+9.9%	+13.4%	+13.9%
ROA	+3.3%	+4.6%	—
ROIC	+7.9%	+10.0%	—
Liquidity
Current ratio	—	—	—
Quick ratio	0.15x	0.19x	—
Leverage
D/E	1.94x	1.88x	—
Interest coverage	—	—	—
Efficiency
Asset turnover	—	0.09x	—
Cash conversion cycle	—	—	—

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