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.

Blackrock BLK Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY QoQ

Simplified Detailed

	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
EBITDA margin	36.9%+3.2pp	33.7%-3.0pp	36.8%-1.4pp	38.2%-0.9pp	39.1%-0.6pp
Free cash flow margin	14.3%-0.3pp	14.7%-2.5pp	17.2%-0.8pp	18%-0.9pp	18.9%-4.1pp
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 assets	4%+0.4pp	3.6%-0.5pp	4.1%—	——	——
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×
Debt-to-assets	0.1×0.0×	0.1×0.0×	0.1×0.0×	0.1×0.0×	0.1×0.0×
Net debt / EBITDA	0.5×+0.1×	0.4×-0.2×	0.6×0.0×	0.6×-0.2×	0.8×+0.6×
Interest coverage	14×+2.5×	11.5×-0.2×	11.7×+0.3×	11.4×-1.0×	12.4×-1.7×
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%
Enterprise value	$154.69B-8.8%	$169.57B-8.6%	$185.58B+15.3%	$160.91B+4.9%	$153.44B-4.2%
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×
EV / sales	6×-1.0×	7×-1.1×	8.1×+0.7×	7.5×+0.1×	7.3×-0.5×
Free cash flow yield	2.5%+0.3pp	2.1%0.0pp	2.2%-0.3pp	2.5%-0.2pp	2.7%-0.3pp
Earnings yield	4.2%+0.8pp	3.3%0.0pp	3.4%-0.7pp	4.1%-0.2pp	4.3%+0.3pp

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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.