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

Year-over-year change per cell; first column has no prior.

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	-10.1%	+45.8%	—
Short Term Investments	+17.0%	—	—
Accounts Receivable	+19.8%	—	—
Other Current Assets	+58.5%	—	—
Property,Plant and Equipment	+13.9%	—	—
Operating Lease Assets	+23.4%	—	—
Goodwill	+36.0%	+67.2%	—
Intangible Assets	+34.8%	—	—
Other Noncurrent Assets	+58.5%	—	—
Total Assets	+22.6%	—	—
Liabilities
Current Portion of Long Term Debt	+3.7%	—	—
Operating Lease Liabilities	+16.8%	—	—
Other Current Liabilities	+69.2%	—	—
Total Current Liabilities	+21.5%	—	—
Long Term Debt	+3.7%	—	—
Operating Lease Liabilities Noncurrent	+16.8%	—	—
Deferred Tax Liabilities	+38.5%	—	—
Other Noncurrent Liabilities	+69.2%	—	—
Total Liabilities	+21.5%	—	—
Equity
Common Stock	+0.0%	—	—
Additional Paid In Capital	+46.9%	+2034.3%	—
Treasury Stock	+215.0%	-74.4%	—
Accumulated Other Comprehensive Income	+53.7%	—	—
Noncontrolling Interest	+34.3%	—	—
Total Stockholders Equity	+17.7%	+20.2%	—
Total Liabilitiesand Equity	+22.6%	—	—

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	+21.0%	+7.9%	—
Expenses Depreciation and Amortization	+10.0%	+2.7%	—
Expenses Share Based Compensation	+73.6%	+19.5%	—
Expenses Restructuring and Asset Impairment	—	-100.0%	—
Expenses Operating Expenses	+33.8%	+10.8%	—
Other Income Expense Operating Income	-7.0%	+20.7%	—
Other Income Expense Interest Income	-27.8%	+62.2%	—
Other Income Expense Other Income/expense	+28.9%	-29.6%	—
Other Income Expense Income Before Tax	-8.1%	+15.9%	—
Income Tax Income Tax Expense	-5.9%	+20.6%	—
net Income net Income	-12.8%	+15.8%	—
net Income Comprehensive Income	+2.1%	+4.7%	—
Earnings Per Share Basic Eps	-15.6%	+15.2%	—
Earnings Per Share Diluted Eps	-15.9%	+15.1%	—
Earnings Per Share Weighted Average Shares Basic	+3.3%	+0.5%	—
Earnings Per Share Weighted Average Shares Diluted	+6.1%	+0.6%	—

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	-12.8%	+15.8%	—
Operating Activities Depreciation and Amortization	+10.0%	+2.7%	—
Operating Activities Stock Based Compensation	+73.6%	+19.5%	—
Operating Activities Deferred Income Taxes	-495.3%	-185.5%	—
Operating Activities Changes In Operating Assets and Liabilities	+39.7%	-24.4%	—
Operating Activities Other Non Cash Items	+158.9%	-201.9%	—
Operating Activities net Cash From Operating Activities	-20.8%	+19.0%	—
Investing Activities Capital Expenditures	+47.1%	-25.9%	—
Investing Activities Business Acquisitions	+19.1%	+1453.4%	—
Investing Activities Purchases of Investments	+69.2%	-3.3%	—
Investing Activities net Cash From Investing Activities	-47.1%	-213.2%	—
Financing Activities Proceeds From Debt	-80.3%	+342.2%	—
Financing Activities Repayment of Debt	-20.4%	—	—
Financing Activities Proceeds From Stock Issuance	-64.0%	+388.4%	—
Financing Activities Tax Withholding On Stock Based Compensation	+6.9%	-18.7%	—
Financing Activities Other Financing Activities	+127.8%	-169.2%	—
Financing Activities net Cash From Financing Activities	-150.4%	+212.2%	—
Cash Reconciliation Effect of Exchange Rate On Cash	+303.1%	-252.8%	—
Cash Reconciliation net Change In Cash	-132.0%	+205.0%	—
Cash Reconciliation Cash At Beginning of Period	-10.1%	+46.0%	—
Cash Reconciliation Cash At End of Period	-10.1%	+46.0%	—

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	—	—	—

Valuation

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