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Blackrock Cash Flow Statement

Operating, investing, and financing cash movements

Blackrock generated $4.1B in operating cash flow over the trailing twelve months. After $403.0M in capital expenditures, free cash flow was $3.7B. Free cash flow decreased 0.1% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$4.1BNet Cash From Investing (TTM)-$1.4BNet Cash From Financing (TTM)-$5.4BCapital Expenditures (TTM)$403.0MDepreciation And Amortization Cf (TTM)$1.3BNet Change In Cash (TTM)$6.7B
Latest FilingQ1 2026
Report Date2026-05-06
Market Cap$157.81B
P/E Ratio25.23
ROE11.95%

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Acquisitions, net of cash acquired$2.9B$3.1B—$390M—$15M
Net consolidations and deconsolidations of sponsored investment funds$29M$1M$67M$17M$12M$5M
Capital expenditures$90M$78M$89M$78M$130M$106M
Proceeds from disposition of marketable securities and other investments$120M$151M$79M$237M$77M$69M
Net cash from investing activities-$3.1B-$3.3B$0-$923M-$212M-$280M
Dividend Received from Consumer Healthcare JV$22M$13M$249M$35M$93M$90M
Purchases of investments$232M$298M$136M$710M$240M$313M

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Share of Profits (Losses) of Related Party—$51M$42M—$3M$46M
Gains (losses) on consolidated sponsored investment products—$13M$170M$236M$61M$23M
Net purchases and proceeds within consolidated sponsored investment products-$396M-$1.1B-$886M-$1.4B-$870M-$1.7B
Change in accounts payable$34M$84M$98M-$203M$96M$340M
Change in accounts receivable$33M-$123M$9M$379M$354M$111M
Change in other liabilities-$870M$3B—$536M—$3.5B
Deferred income taxes-$11M$15M-$93M-$160M-$393M$60M
Depreciation and amortization$200M$194M$217M$346M$369M$380M
Other non-cash income$0$36M$397M——$22M
Income (Loss) from Equity Method Investments—$51M$42M—$3M$46M
Income (Loss) from Equity Method Investments—$51M$42M—$3M$46M
Income (Loss) from Equity Method Investments—$51M$42M—$3M$46M
Net cash from operating activities$2.6B-$1.1B$1.4B$1.4B$2.3B-$980M
Net income$1.7B$1.5B$1.7B$1.5B$1.2B$2.3B
Contingent Consideration Fair Value Adjustment$28M-$96M-$76M-$93M-$455M$549M
Distributions of earnings from equity method investees$16M$14M$133M$8M$274M$9M
Equity in earnings (losses) of equity method investees—$51M$42M—$3M$46M
Accrued compensation and employee benefits$664M-$1.8B——$1.1B-$2.3B
Increase (Decrease) in Other Operating Assets-$878M$3.5B—$186M—$3.5B
Operating lease right-of-use asset amortization$33M$34M$35M$35M$44M$43M
Income (Loss) from Equity Method Investments—$51M$42M—$3M$46M
Stock-based compensation$242M$241M$226M$419M$421M$319M
Change in trading and equity securities-$92M-$12M-$66M-$61M-$54M-$198M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net borrowings by consolidated sponsored investment products-$33M-$24M-$5M-$15M-$68M$193M
Change in non-controlling interests-$991M-$522M-$670M-$447M-$1.4B-$248M
Dividends Or Subco Distributions Paid$791M$838M——$850M$973M
Other, net—-$4M-$1M$7M$3M-$6M
Proceeds From Payments To Minority Shareholders$414M$811M$905M$1.3B$827M$1.2B
Shares Or Subco Unit Repurchased$386M$657M——$514M$810M
Payment of Deferred Purchase Consideration—-$4M-$1M$7M$3M-$6M
Noncontrolling interest transactions and other—-$4M-$1M$7M$3M-$6M
Net cash from financing activities—-$661M——-$588M-$304M
Noncontrolling Interests Activity and Other—-$4M-$1M$7M$3M-$6M
Proceeds from issuance of common stock$217M$51M$47M$55M$14M$74M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$2.5B-$1.2B$1.3B$1.3B$2.1B-$1.1B

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effect of exchange rate changes on cash-$244M$110M$288M—$12M-$63M
Net increase (decrease) in cash—-$5B———-$1.6B
Issuance of common stock for the acquisition of Ansys—$0$42M$77M$32M$818M
Treasury Stock Retired Cost Method Amount$3.2B$0$0$0$0—

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income taxes paid$424.8M$574.5M$574.5M$574.5M$574.5M—
Interest paid$72.3M$120.5M$120.5M$120.5M$120.5M—
Income Taxes Paid, Net$424.8M$574.5M$574.5M$574.5M$574.5M—