Blackrock BLK Ratios & Valuation
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Operating margin | 31.8%+2.7pp | 29.1%-3.5pp | 32.6%-2.2pp | 34.8%-1.4pp | 36.2%-0.9pp | |
| Net margin | 24.4%+1.5pp | 22.9%-3.7pp | 26.6%-3.0pp | 29.7%-0.4pp | 30.1%-1.1pp | |
| Returns | ||||||
| Return on equity | 11.9%+1.2pp | 10.7%-1.9pp | 12.6%-1.7pp | 14.3%0.0pp | 14.3%-0.3pp | |
| Return on invested capital | 10.9%+0.8pp | 10.1%-1.3pp | 11.5%— | —— | —— | |
| Efficiency | ||||||
| Asset turnover | 0.2×0.0× | 0.2×0.0× | 0.2×— | —— | —— | |
| Leverage | ||||||
| Debt-to-equity | 0.3×0.0× | 0.3×0.0× | 0.3×0.0× | 0.3×0.0× | 0.3×0.0× | |
| Net debt / EBITDA | 0.5×+0.1× | 0.4×-0.2× | 0.6×0.0× | 0.6×-0.2× | 0.8×+0.6× | |
| Per Share | ||||||
| Book value per share | $343.56-1.1% | $347.42+3.4% | $336.12+6.9% | $314.49+2.5% | $306.68-2.1% | |
| Valuation | ||||||
| Market capitalization | $149.59B-9.9% | $166.06B-8.0% | $180.54B+16.0% | $155.7B+6.0% | $146.94B-7.4% | |
| Price / earnings | 23.9×-6.0× | 29.9×+0.3× | 29.6×+5.3× | 24.3×+1.0× | 23.3×-1.6× | |
| Price / sales | 5.8×-1.0× | 6.9×-1.0× | 7.9×+0.7× | 7.2×+0.2× | 7×-0.8× | |
| Price / book | 2.6×-0.3× | 3×-0.3× | 3.3×+0.1× | 3.2×+0.1× | 3.1×-0.3× | |
| EV / EBITDA | 16.3×-4.4× | 20.8×-1.3× | 22.1×+2.5× | 19.5×+0.8× | 18.7×-1.0× |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- Where do Blackrock's ratios come from?
- Every ratio is computed from Blackrock's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.
