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

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

26 accounts · 4 years

Total assets $170.0B

Total liabilities $108.5B

Shareholders equity $55.9B

Account	2025	2024	2023	2022
Assets
Cash and Cash Equivalents	—	99.7%	79.5%	67.2%
Short Term Investments	—	15.2%	0.0%	0.0%
Accounts Receivable	—	33.6%	—	—
Other Current Assets	—	28.1%	—	—
Property,Plant and Equipment	—	8.6%	0.0%	0.0%
Operating Lease Assets	—	11.9%	—	—
Goodwill	—	202.8%	141.0%	—
Intangible Assets	—	162.1%	0.0%	0.0%
Other Noncurrent Assets	—	28.1%	—	—
Total Assets	—	1083.4%	—	—
Liabilities
Current Portion of Long Term Debt	—	96.2%	—	—
Operating Lease Liabilities	—	14.9%	—	—
Other Current Liabilities	—	31.5%	—	—
Total Current Liabilities	—	697.7%	—	—
Long Term Debt	—	96.2%	—	—
Operating Lease Liabilities Noncurrent	—	14.9%	—	—
Deferred Tax Liabilities	—	26.1%	—	—
Other Noncurrent Liabilities	—	31.5%	—	—
Total Liabilities	—	697.7%	—	—
Equity
Common Stock	—	0.0%	—	—
Additional Paid In Capital	—	105.1%	5.7%	6.4%
Treasury Stock	—	3.0%	13.7%	17.0%
Accumulated Other Comprehensive Income	—	-9.2%	—	—
Noncontrolling Interest	—	1.3%	—	—
Total Stockholders Equity	—	371.2%	358.7%	342.4%
Total Liabilitiesand Equity	—	1083.4%	—	—

Income Statement

Revenue, expense, and profitability

16 accounts · 4 years

Revenue $12.8B

Operating income $7.0B

Net income $5.6B

Account	2025	2024	2023	2022
IncomeStatement
Expenses Selling,General and Administrative	—	17.6%	19.0%	18.6%
Expenses Depreciation and Amortization	—	2.1%	2.4%	2.3%
Expenses Share Based Compensation	—	5.9%	5.7%	6.4%
Expenses Restructuring and Asset Impairment	—	0.0%	0.6%	0.8%
Expenses Operating Expenses	—	100.3%	105.2%	103.9%
Other Income Expense Operating Income	—	59.2%	57.0%	57.7%
Other Income Expense Interest Income	—	6.0%	4.3%	1.4%
Other Income Expense Other Income/expense	—	3.8%	6.3%	-0.3%
Other Income Expense Income Before Tax	—	64.8%	65.0%	56.9%
Income Tax Income Tax Expense	—	13.9%	13.4%	11.7%
net Income net Income	—	49.8%	50.0%	46.8%
net Income Comprehensive Income	—	47.1%	52.3%	41.8%
Earnings Per Share Basic Eps	—	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	—	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Basic	—	1.2%	1.4%	1.4%
Earnings Per Share Weighted Average Shares Diluted	—	1.2%	1.4%	1.4%

Cash Flow Statement

Operating, investing, and financing flows

21 accounts · 4 years

Operating cash flow $3.9B

Investing cash flow $-4.4B

Financing cash flow $-1.1B

Account	2025	2024	2023	2022
CashFlow
Operating Activities net Income	—	49.8%	50.0%	46.8%
Operating Activities Depreciation and Amortization	—	2.1%	2.4%	2.3%
Operating Activities Stock Based Compensation	—	5.9%	5.7%	6.4%
Operating Activities Deferred Income Taxes	—	-0.8%	1.1%	5.4%
Operating Activities Changes In Operating Assets and Liabilities	—	3.5%	5.3%	-3.8%
Operating Activities Other Non Cash Items	—	-3.0%	3.4%	-4.3%
Operating Activities net Cash From Operating Activities	—	38.7%	37.8%	44.8%
Investing Activities Capital Expenditures	—	2.0%	3.1%	4.8%
Investing Activities Business Acquisitions	—	22.9%	1.7%	0.0%
Investing Activities Purchases of Investments	—	6.4%	7.7%	7.4%
Investing Activities net Cash From Investing Activities	—	-23.5%	-8.7%	-10.2%
Financing Activities Proceeds From Debt	—	42.8%	11.2%	0.0%
Financing Activities Repayment of Debt	—	7.8%	0.0%	6.8%
Financing Activities Proceeds From Stock Issuance	—	3.6%	0.9%	0.1%
Financing Activities Tax Withholding On Stock Based Compensation	—	2.4%	3.4%	4.1%
Financing Activities Other Financing Activities	—	-0.1%	0.2%	0.2%
Financing Activities net Cash From Financing Activities	—	17.5%	-18.1%	-49.2%
Cash Reconciliation Effect of Exchange Rate On Cash	—	-1.3%	1.0%	-2.6%
Cash Reconciliation net Change In Cash	—	31.5%	12.0%	-17.2%
Cash Reconciliation Cash At Beginning of Period	—	99.9%	79.5%	67.2%
Cash Reconciliation Cash At End of Period	—	99.9%	79.5%	67.2%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 4 years

Ratio	2025	2024	2023	2022
Profitability
Gross margin	—	—	—	—
Operating margin	—	+59.2%	+57.0%	+57.7%
Net margin	—	+49.8%	+50.0%	+46.8%
FCF margin	—	+36.7%	+34.7%	+40.0%
Growth
Revenue CAGR (3y)	—	—	—	—
Returns
ROE	+9.9%	+13.4%	+13.9%	+13.7%
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	—	—	—	—

Valuation

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