BlackRock (BLK)
Market Price (2/10/2026): $1079.0 | Market Cap: $167.2 BilSector: Financials | Industry: Asset Management & Custody Banks
BlackRock (BLK)
Market Price (2/10/2026): $1079.0Market Cap: $167.2 BilSector: FinancialsIndustry: Asset Management & Custody Banks
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.6% | Weak multi-year price returns3Y Excs Rtn is -16% | Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 39x |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 19%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 17%, CFO LTM is 4.3 Bil, FCF LTM is 3.9 Bil | Key risksBLK key risks include [1] antitrust lawsuits and regulatory actions targeting its ESG initiatives, Show more. | |
| Low stock price volatilityVol 12M is 28% | ||
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments, Sustainable Finance, Digital & Alternative Assets, and AI in Financial Services. Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.6% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 19%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 17%, CFO LTM is 4.3 Bil, FCF LTM is 3.9 Bil |
| Low stock price volatilityVol 12M is 28% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments, Sustainable Finance, Digital & Alternative Assets, and AI in Financial Services. Show more. |
| Weak multi-year price returns3Y Excs Rtn is -16% |
| Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 39x |
| Key risksBLK key risks include [1] antitrust lawsuits and regulatory actions targeting its ESG initiatives, Show more. |
Qualitative Assessment
AI Analysis | Feedback
1. Strong Q4 2025 Earnings Offset by Broader Market and Valuation Considerations. BlackRock reported robust financial results for the fourth quarter of 2025, exceeding revenue and earnings per share forecasts with record client inflows, leading to an initial pre-market rally in its share price. However, despite this strong performance, the broader market environment and potentially already high valuations may have tempered a sustained upward trajectory, preventing the stock from breaking out significantly beyond its existing range. BlackRock's 2026 outlook, while optimistic about long-term growth areas like AI, also hinted at a more complex market environment with higher valuations and tighter risk premia, suggesting a balanced outlook rather than unbridled growth potential.
2. Mixed Industry Trends and AI Integration Uncertainties. The investment management industry entered 2026 at an "inflection point," characterized by both opportunities for differentiation, particularly with AI, and ongoing challenges such as elusive profit growth and evolving product structures. While BlackRock highlighted AI as a significant "mega force" in its 2026 Global Outlook, it also acknowledged uncertainties regarding whether AI-driven revenues would fully justify the substantial capital spending. This nuanced view of industry transformation and the long-term, rather than immediate, impact of AI, likely contributed to a period of consolidation for BlackRock's stock as investors weighed future potential against current market dynamics.
Show more
Stock Movement Drivers
Fundamental Drivers
The 0.2% change in BLK stock from 10/31/2025 to 2/9/2026 was primarily driven by a 6.1% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 10312025 | 2092026 | Change |
|---|---|---|---|
| Stock Price ($) | 1077.57 | 1079.90 | 0.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 21,573 | 22,885 | 6.1% |
| Net Income Margin (%) | 29.7% | 26.6% | -10.3% |
| P/E Multiple | 26.1 | 27.4 | 5.3% |
| Shares Outstanding (Mil) | 155 | 155 | 0.0% |
| Cumulative Contribution | 0.2% |
Market Drivers
10/31/2025 to 2/9/2026| Return | Correlation | |
|---|---|---|
| BLK | 0.2% | |
| Market (SPY) | 1.7% | 55.8% |
| Sector (XLF) | 3.0% | 67.9% |
Fundamental Drivers
The -1.4% change in BLK stock from 7/31/2025 to 2/9/2026 was primarily driven by a -11.5% change in the company's Net Income Margin (%).| (LTM values as of) | 7312025 | 2092026 | Change |
|---|---|---|---|
| Stock Price ($) | 1095.48 | 1079.90 | -1.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 20,955 | 22,885 | 9.2% |
| Net Income Margin (%) | 30.1% | 26.6% | -11.5% |
| P/E Multiple | 26.9 | 27.4 | 1.9% |
| Shares Outstanding (Mil) | 155 | 155 | 0.1% |
| Cumulative Contribution | -1.4% |
Market Drivers
7/31/2025 to 2/9/2026| Return | Correlation | |
|---|---|---|
| BLK | -1.4% | |
| Market (SPY) | 10.1% | 53.3% |
| Sector (XLF) | 3.3% | 69.2% |
Fundamental Drivers
The 2.5% change in BLK stock from 1/31/2025 to 2/9/2026 was primarily driven by a 18.2% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 1312025 | 2092026 | Change |
|---|---|---|---|
| Stock Price ($) | 1053.90 | 1079.90 | 2.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 19,361 | 22,885 | 18.2% |
| Net Income Margin (%) | 31.4% | 26.6% | -15.1% |
| P/E Multiple | 25.7 | 27.4 | 6.8% |
| Shares Outstanding (Mil) | 148 | 155 | -4.4% |
| Cumulative Contribution | 2.5% |
Market Drivers
1/31/2025 to 2/9/2026| Return | Correlation | |
|---|---|---|
| BLK | 2.5% | |
| Market (SPY) | 16.3% | 74.9% |
| Sector (XLF) | 5.9% | 79.9% |
Fundamental Drivers
The 52.9% change in BLK stock from 1/31/2023 to 2/9/2026 was primarily driven by a 43.5% change in the company's P/E Multiple.| (LTM values as of) | 1312023 | 2092026 | Change |
|---|---|---|---|
| Stock Price ($) | 706.25 | 1079.90 | 52.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 18,642 | 22,885 | 22.8% |
| Net Income Margin (%) | 29.8% | 26.6% | -10.7% |
| P/E Multiple | 19.1 | 27.4 | 43.5% |
| Shares Outstanding (Mil) | 151 | 155 | -2.8% |
| Cumulative Contribution | 52.9% |
Market Drivers
1/31/2023 to 2/9/2026| Return | Correlation | |
|---|---|---|
| BLK | 52.9% | |
| Market (SPY) | 77.1% | 70.7% |
| Sector (XLF) | 54.3% | 74.6% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| BLK Return | 29% | -20% | 18% | 29% | 7% | -1% | 65% |
| Peers Return | 38% | -17% | 13% | 35% | 34% | 1% | 135% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 1% | 85% |
Monthly Win Rates [3] | |||||||
| BLK Win Rate | 58% | 42% | 50% | 83% | 58% | 50% | |
| Peers Win Rate | 70% | 43% | 47% | 62% | 70% | 60% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| BLK Max Drawdown | -5% | -41% | -14% | -7% | -20% | -1% | |
| Peers Max Drawdown | -2% | -33% | -14% | -5% | -20% | -4% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: STT, JPM, MS, GS, TROW. See BLK Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/9/2026 (YTD)
How Low Can It Go
| Event | BLK | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -45.3% | -25.4% |
| % Gain to Breakeven | 82.9% | 34.1% |
| Time to Breakeven | 730 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -42.8% | -33.9% |
| % Gain to Breakeven | 74.8% | 51.3% |
| Time to Breakeven | 116 days | 148 days |
| 2018 Correction | ||
| % Loss | -39.0% | -19.8% |
| % Gain to Breakeven | 64.0% | 24.7% |
| Time to Breakeven | 612 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -60.7% | -56.8% |
| % Gain to Breakeven | 154.8% | 131.3% |
| Time to Breakeven | 231 days | 1,480 days |
Compare to STT, JPM, MS, GS, TROW
In The Past
BlackRock's stock fell -45.3% during the 2022 Inflation Shock from a high on 11/12/2021. A -45.3% loss requires a 82.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About BlackRock (BLK)
AI Analysis | Feedback
- Amazon for investments
- A much larger, more diverse Vanguard
- AWS for financial institutions
AI Analysis | Feedback
Investment Management Services
- ETFs (iShares): Exchange-Traded Funds are investment funds that trade on stock exchanges, offering diversified exposure to various asset classes, sectors, or geographies.
- Mutual Funds: Actively and passively managed pooled investment vehicles that allow investors to gain exposure to a diversified portfolio of securities.
- Institutional Separate Accounts: Customized investment mandates and portfolio management services provided directly to large institutional clients like pension funds, endowments, and sovereign wealth funds.
- Alternative Investments: Investment strategies that include private equity, hedge funds, real estate, infrastructure, and private credit, offering diversification and potentially higher returns than traditional assets.
Investment Technology Services
- Aladdin (Risk Management and Portfolio Management Technology): A comprehensive end-to-end technology platform used by institutional investors to manage risk, perform analytics, and operate their investment portfolios.
Financial Advisory Services
- Advisory Services: Consulting and strategic advice provided to institutional clients on asset allocation, portfolio construction, and risk management.
AI Analysis | Feedback
BlackRock (symbol: BLK) serves a diverse global client base, encompassing both large institutional investors and individual investors. Due to the confidential nature of client relationships in the asset management industry, BlackRock does not publicly disclose the names of its specific major customers. However, its customer base can be broadly categorized as follows:
-
Institutional Investors: This represents BlackRock's largest customer segment by assets under management. These clients are typically other companies or large entities that manage significant pools of capital. This category includes:
- Pension funds (corporate, public, and multi-employer)
- Sovereign wealth funds
- Endowments and foundations
- Insurance companies
- Official institutions and governments
- Other financial institutions managing their proprietary assets
- Wealth Management Firms and Financial Advisors: These are other companies or independent professionals (e.g., registered investment advisors, broker-dealers) who utilize BlackRock's investment products (such as iShares ETFs, mutual funds, and separate accounts) to manage portfolios for their own clients. These firms act as crucial intermediaries, distributing BlackRock's offerings to a broad base of individual and smaller institutional investors.
- Individual Investors: While often reached indirectly through wealth management firms and financial advisors, individual investors are ultimate direct or indirect customers of BlackRock. They invest in BlackRock's various products, primarily iShares Exchange Traded Funds (ETFs) and mutual funds, often through various brokerage platforms or direct-to-consumer channels.
AI Analysis | Feedback
- Microsoft (MSFT)
- State Street Corporation (STT)
- JPMorgan Chase & Co. (JPM)
- The Bank of New York Mellon Corporation (BK)
- MSCI Inc. (MSCI)
- S&P Global Inc. (SPGI)
AI Analysis | Feedback
Laurence D. Fink, Chairman and Chief Executive Officer
Laurence D. Fink is a co-founder of BlackRock, establishing the firm in 1988 with seven partners. Before co-founding BlackRock, he was a managing director at The First Boston Corporation, where he was a pioneer in the mortgage-backed securities market and managed the firm's bond department. A significant $100 million loss at First Boston in 1986 due to an incorrect prediction about interest rates motivated his commitment to risk management and led to the creation of BlackRock. BlackRock was initially formed under the umbrella of The Blackstone Group, a private equity firm, before being spun off as an independent entity in 1994 and going public in 1999.
Martin Small, Chief Financial Officer
Martin Small is the Chief Financial Officer for BlackRock and its Global Head of Corporate Strategy. He joined BlackRock in 2006. Prior to becoming CFO in March 2023, he served as Head of BlackRock's U.S. Wealth Advisory business from 2018 to 2022. He also led BlackRock's U.S. and Canada iShares from 2014 to 2018 and held leadership roles in the firm's Financial Markets Advisory (FMA) group from 2008 to 2014. Before joining BlackRock, Mr. Small was a corporate lawyer with the law firm of Davis Polk & Wardwell in New York.
Robert S. Kapito, President and Director
Robert S. Kapito is a co-founder and President of BlackRock. He co-founded BlackRock in 1988 alongside Larry Fink. Before co-founding BlackRock, he was a Vice President in the Mortgage Products Group at The First Boston Corporation, where he worked with Larry Fink in pioneering the mortgage-backed security market in the United States. BlackRock was founded under the umbrella of the private equity firm Blackstone Group as partners.
Rob Goldstein, Chief Operating Officer
Robert Goldstein is BlackRock's Senior Managing Director and Chief Operating Officer. He helps oversee the day-to-day global business of the firm. Mr. Goldstein joined BlackRock in 1994 as an analyst in the Portfolio Analytics Group and later worked as a risk advisor to mortgage and insurance clients. Before becoming COO in 2014, he headed the firm's Institutional Client Business.
Chris Meade, Chief Legal Officer and General Counsel
Chris Meade serves as the Chief Legal Officer and General Counsel of BlackRock, Inc.
AI Analysis | Feedback
The key risks to BlackRock's business are primarily centered around an increasingly complex regulatory and legal environment, intense market competition, and inherent operational and technological dependencies.
- Regulatory and Legal Risks: BlackRock faces significant and increasing regulatory oversight globally, encompassing areas such as macroprudential policies for asset managers, liquidity risk management, data privacy, and cybersecurity. Regulatory reforms can also impact BlackRock's clients, potentially leading to changes in their investment strategies or allocations that could be adverse to the company. A prominent and current legal risk is antitrust lawsuits, such as the Texas v. BlackRock proceeding, which alleges anti-competitive conduct through ESG initiatives. These lawsuits could redefine regulatory oversight of institutional investors, alter capital allocation priorities, and significantly impact BlackRock's assets under management (AUM), revenue, and stock price. Furthermore, the company is exposed to the risk of regulatory enforcement actions and fines for non-compliance, as evidenced by past SEC charges for failing to properly disclose certain investments.
- Market and Competition Risks: BlackRock operates in a highly dynamic and competitive global marketplace, facing challenges from evolving market dynamics, economic uncertainty, and geopolitical fragmentation. The rise of fintech companies and aggressive new competitors in private markets also poses competitive threats. BlackRock's ability to maintain and grow its revenue, earnings, and shareholder value is predicated on its success in generating new business, particularly in its Aladdin technology platform and other technology products and services. The "mega forces" of artificial intelligence and geopolitical shifts are transforming economies, requiring BlackRock to continuously adapt its investment strategies and product offerings to meet changing investor preferences and market conditions.
- Operational and Technology Risks: A critical risk for BlackRock stems from its reliance on key technology partnerships and infrastructure, such as Microsoft Azure for its Aladdin platform. This dependence exposes the company to migration, execution, technology, and operational risks, including the potential for prolonged global cloud service failures and significant cybersecurity threats. A failure to effectively manage these technology-related risks could result in escalating costs, financial losses, client dissatisfaction or attrition, regulatory fines, and reputational harm. Additionally, BlackRock's continued success is highly dependent on its ability to attract, develop, and retain talented professionals in a competitive global market for fund managers, investment analysts, and technology specialists.
AI Analysis | Feedback
nullAI Analysis | Feedback
BlackRock (NYSE: BLK), the world's largest asset manager, participates in several significant addressable markets through its diverse range of products and services. These primarily include broad asset management, Exchange Traded Funds (ETFs) via its iShares brand, and its technology solutions platform, Aladdin, along with a growing presence in private markets data.
-
Overall Asset Management (Global): The global asset management industry's total assets under management (AUM) represent BlackRock's broadest addressable market. While BlackRock itself managed $13.5 trillion in assets as of the third quarter of 2025, the total global asset management market is considerably larger. BlackRock managed 8% of the market in 2022. If BlackRock's AUM was approximately $9.4 trillion in Q2 2023, this would suggest a global asset management market of roughly $117.5 trillion in AUM around that time.
-
Exchange Traded Funds (ETFs) (Global): The global ETF market is a substantial and growing addressable market for BlackRock's iShares products. As of the end of 2024, global ETF assets under management (AUM) reached US$14.6 trillion. Another source indicates the global ETF market was worth approximately $13 trillion as of May 2024. The U.S.-listed ETF market alone held about $9 trillion in assets as of May 2024. BlackRock's iShares ETF business accounts for a significant portion of its total AUM, and iShares has been a global leader in the ETF marketplace for over two decades.
-
Technology Services (Aladdin) (Global): BlackRock's Aladdin platform, which provides risk management and investment analytics, serves a specialized segment of the financial technology market. BlackRock estimates the addressable market for Aladdin for large institutional and wealth managers currently utilizing the service to be approximately $12.5 billion. Additionally, there is an estimated $11 billion in potential sales from non-client large institutional and wealth managers, as well as smaller firms, bringing the total potential addressable market for Aladdin to approximately $23.5 billion globally, based on BlackRock's projections.
-
Private Markets Data (Global): Following its acquisition of Preqin, BlackRock has expanded its presence in the private markets data segment. This market is estimated to have a total addressable size of $8 billion globally and is projected to grow to $18 billion by 2030.
AI Analysis | Feedback
Here are 3-5 expected drivers of future revenue growth for BlackRock (BLK) over the next 2-3 years:
- Growth in Private Markets and Alternative Investments: BlackRock is strategically expanding its presence in private markets and alternative investments, including private credit, infrastructure, and real estate, targeting significant fundraising of $400 billion by 2030. This area offers significantly higher fees compared to traditional exchange-traded funds (ETFs). Recent acquisitions, such as Global Infrastructure Partners (GIP) and HPS Investment Partners, further reinforce this strategy.
- Expansion of ETF Offerings and Digital Assets: The company's strategic focus on expanding its ETF offerings and digital assets has been crucial in attracting substantial inflows and contributing to record Assets Under Management (AUM). This includes the launch of new products like Bitcoin ETFs and digital asset exchange-traded products (ETPs) in various markets.
- Growth in Technology Services and the Aladdin Platform: BlackRock anticipates an increase in revenue from its technology services and subscriptions, driven by its proprietary Aladdin platform and the integration of AI-driven portfolio analytics features. Acquisitions, such as Preqin, also contribute to enhancing their data and technology capabilities.
- Consistent Organic Base Fee Growth: BlackRock has demonstrated a robust track record of strong organic base fee growth, fueled by broad-based client demand across its diversified product offerings. The company has set a target of achieving and exceeding 5% organic base fee growth consistently through 2030.
- Global Expansion and Penetration of Emerging Markets: BlackRock is focused on leveraging its global reach and expertise to expand into new markets, particularly high-growth emerging markets like India, to further diversify its client base and revenue streams.
AI Analysis | Feedback
Share Repurchases
- BlackRock executed share buybacks of approximately $1.93 billion in 2024 and $2.332 billion in 2022.
- As of September 30, 2025, BlackRock had $394.58 million in share buybacks.
- BlackRock's closed-end funds have authorized open market share repurchase programs, with approximately $116 million repurchased across the closed-end fund complex in Q4 2023, and a cumulative $1.3 billion since the program's inception in 2016.
Share Issuance
- In January 2024, BlackRock agreed to acquire Global Infrastructure Partners (GIP) for $12.5 billion, which included paying 12 million of its own shares as part of the deal.
Outbound Investments
- In January 2024, BlackRock announced the acquisition of Global Infrastructure Partners (GIP) for $12.5 billion.
- In July 2023, BlackRock entered a 50:50 joint venture with Jio Financial Services (JFS) to establish Jio BlackRock, an asset management business.
- BlackRock completed 7 acquisitions in 2024 and 5 in 2025 as of October 1, 2025, with notable recent acquisitions including ElmTree Funds in July 2025 and Viridium Gruppe for $3.82 billion in March 2025.
Capital Expenditures
- BlackRock's capital expenditures averaged $333.4 million annually from 2020 to 2024.
- Capital expenditures peaked at $533 million in 2022 and were $255 million in 2024.
- For the latest twelve months ending June 30, 2025, BlackRock's capital expenditures were $351 million, with $89 million for the quarter ending June 30, 2025.
Latest Trefis Analyses
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 252.23 |
| Mkt Cap | 226.9 |
| Rev LTM | 40,792 |
| Op Inc LTM | 5,077 |
| FCF LTM | -2,721 |
| FCF 3Y Avg | -12,974 |
| CFO LTM | -1,094 |
| CFO 3Y Avg | -10,880 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 12.2% |
| Rev Chg 3Y Avg | 7.0% |
| Rev Chg Q | 15.3% |
| QoQ Delta Rev Chg LTM | 3.6% |
| Op Mgn LTM | 33.8% |
| Op Mgn 3Y Avg | 34.2% |
| QoQ Delta Op Mgn LTM | -0.9% |
| CFO/Rev LTM | 6.5% |
| CFO/Rev 3Y Avg | -22.2% |
| FCF/Rev LTM | 2.9% |
| FCF/Rev 3Y Avg | -25.7% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 226.9 |
| P/S | 4.7 |
| P/EBIT | 13.9 |
| P/E | 16.4 |
| P/CFO | 3.6 |
| Total Yield | 6.1% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | -6.1% |
| D/E | 0.7 |
| Net D/E | -0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -1.0% |
| 3M Rtn | 6.6% |
| 6M Rtn | 18.1% |
| 12M Rtn | 26.5% |
| 3Y Rtn | 82.5% |
| 1M Excs Rtn | -1.4% |
| 3M Excs Rtn | 4.1% |
| 6M Excs Rtn | 8.6% |
| 12M Excs Rtn | 11.2% |
| 3Y Excs Rtn | 15.2% |
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Equity | 7,161 | 7,203 | 8,000 | 5,900 | 5,716 |
| Fixed income | 3,480 | 3,495 | 3,863 | 3,539 | 3,286 |
| Alternatives | 1,646 | 1,590 | 1,513 | 1,247 | 1,009 |
| Technology services and subscription revenue | 1,485 | 1,364 | 1,281 | 1,139 | 974 |
| Distribution fees | 1,262 | 1,381 | 1,521 | 1,131 | 1,069 |
| Active multi-asset | 1,203 | 1,299 | 1,414 | 1,163 | 1,148 |
| Cash management | 909 | 864 | 470 | 790 | 618 |
| Investment Advisory Performance Fees | 554 | 514 | 1,143 | 1,104 | 450 |
| Advisory and other revenue | 159 | 163 | 169 | 192 | 269 |
| Total | 17,859 | 17,873 | 19,374 | 16,205 | 14,539 |
Price Behavior
| Market Price | $1,079.90 | |
| Market Cap ($ Bil) | 167.3 | |
| First Trading Date | 10/01/1999 | |
| Distance from 52W High | -9.8% | |
| 50 Days | 200 Days | |
| DMA Price | $1,088.95 | $1,067.23 |
| DMA Trend | up | up |
| Distance from DMA | -0.8% | 1.2% |
| 3M | 1YR | |
| Volatility | 27.9% | 28.0% |
| Downside Capture | 163.58 | 117.67 |
| Upside Capture | 148.62 | 110.24 |
| Correlation (SPY) | 56.4% | 76.0% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.88 | 1.61 | 1.30 | 1.13 | 1.10 | 1.08 |
| Up Beta | 0.42 | 0.59 | 0.28 | 0.98 | 0.99 | 1.04 |
| Down Beta | 2.63 | 2.01 | 1.61 | 1.36 | 1.20 | 1.12 |
| Up Capture | 188% | 190% | 154% | 93% | 114% | 119% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 12 | 19 | 29 | 59 | 124 | 396 |
| Down Capture | 135% | 127% | 133% | 116% | 112% | 103% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 8 | 22 | 32 | 66 | 127 | 356 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BLK | |
|---|---|---|---|---|
| BLK | 9.5% | 28.0% | 0.31 | - |
| Sector ETF (XLF) | 4.6% | 19.2% | 0.11 | 81.5% |
| Equity (SPY) | 15.5% | 19.4% | 0.62 | 75.9% |
| Gold (GLD) | 78.8% | 24.9% | 2.30 | 3.6% |
| Commodities (DBC) | 9.9% | 16.6% | 0.40 | 23.0% |
| Real Estate (VNQ) | 4.8% | 16.5% | 0.11 | 61.8% |
| Bitcoin (BTCUSD) | -27.0% | 44.8% | -0.57 | 36.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BLK | |
|---|---|---|---|---|
| BLK | 10.8% | 26.3% | 0.39 | - |
| Sector ETF (XLF) | 14.3% | 18.7% | 0.63 | 76.9% |
| Equity (SPY) | 14.2% | 17.0% | 0.67 | 76.9% |
| Gold (GLD) | 22.3% | 16.9% | 1.07 | 11.1% |
| Commodities (DBC) | 11.6% | 18.9% | 0.49 | 15.8% |
| Real Estate (VNQ) | 5.0% | 18.8% | 0.17 | 63.0% |
| Bitcoin (BTCUSD) | 14.7% | 58.0% | 0.47 | 30.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BLK | |
|---|---|---|---|---|
| BLK | 16.1% | 27.6% | 0.58 | - |
| Sector ETF (XLF) | 14.0% | 22.2% | 0.58 | 78.3% |
| Equity (SPY) | 15.5% | 17.9% | 0.74 | 79.4% |
| Gold (GLD) | 15.8% | 15.5% | 0.85 | 3.1% |
| Commodities (DBC) | 8.3% | 17.6% | 0.39 | 25.5% |
| Real Estate (VNQ) | 6.0% | 20.7% | 0.25 | 61.3% |
| Bitcoin (BTCUSD) | 69.0% | 66.8% | 1.08 | 19.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 1/15/2026 | 5.9% | 4.4% | |
| 10/14/2025 | 3.4% | 0.4% | -6.0% |
| 7/15/2025 | -5.9% | -1.7% | 4.3% |
| 4/11/2025 | 2.3% | 2.0% | 11.6% |
| 1/15/2025 | 5.2% | 4.5% | 1.8% |
| 10/11/2024 | 3.6% | 4.9% | 8.8% |
| SUMMARY STATS | |||
| # Positive | 5 | 5 | 4 |
| # Negative | 1 | 1 | 1 |
| Median Positive | 3.6% | 4.4% | 6.5% |
| Median Negative | -5.9% | -1.7% | -6.0% |
| Max Positive | 5.9% | 4.9% | 11.6% |
| Max Negative | -5.9% | -1.7% | -6.0% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/05/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/07/2025 | 10-Q |
| 12/31/2024 | 02/25/2025 | 10-K |
| 09/30/2024 | 11/06/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 02/23/2024 | 10-K |
| 09/30/2023 | 11/06/2023 | 10-Q |
| 06/30/2023 | 08/04/2023 | 10-Q |
| 03/31/2023 | 05/05/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 08/05/2022 | 10-Q |
| 03/31/2022 | 05/06/2022 | 10-Q |
| 12/31/2021 | 02/25/2022 | 10-K |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.