BlackRock, Inc. (BLK) Q2 FY2026 Financial Statements: Revenue $7.08B, Net income $1.91B
More for BlackRock: Company index · 10-K and 10-Q summary · 8-K filings and events
PeriodQ2 FY2026
Published
BlackRock reported $7.08 billion in revenue for Q2 FY2026, the quarter ended June 30, 2026, up 30.6% from a year earlier, and net income attributable to BlackRock of $1.91 billion, up 20.2%, or $12.19 per diluted share. Assets under management ended the quarter at $15.34 trillion, up 22.5% from a year earlier, on twelve months of market appreciation and long-term net inflows plus the addition of the HPS Investment Partners credit business, which closed after the year-ago quarter and lifts both revenue and assets against a comparison that does not include it. Long-term net inflows in the quarter just ended were $199.13 billion. Operating margin widened to 34.7%, up 2.8 points, as revenue grew faster than expense, while net income grew more slowly than operating income because the year-ago quarter carried a larger noncash gain on investments.
| Metric | Amount | vs. year ago |
|---|---|---|
| Revenue | $7,084,000,000 | up 30.6% |
| Net income | $1,914,000,000 | up 20.2% |
| Diluted EPS | $12.19 | up 19.6% |
| Assets under management | $15,344,624,000,000 | up 22.5% |
| Long-term net inflows | $199,134,000,000 | |
| Operating margin | 34.7% | up 2.8 points |
About this file
| Ticker | BLK |
|---|---|
| CIK | 0002012383 |
| Company | BlackRock, Inc. |
| Business type | asset_manager |
| Schema template | asset manager: fee revenue by type, total expense, operating income and operating margin, nonoperating results, assets under management and net flows |
| Reporting currency | USD |
| Converted to USD | no |
| Units | actual dollars (not millions); per-share amounts in dollars; share counts in shares; assets under management and net flows in actual dollars; percentages in percent |
BLK annual income statement, balance sheet and cash flow
| FY2025 | FY2024 | FY2023 | |
|---|---|---|---|
| Fiscal year | 2025 | 2024 | 2023 |
| Label | FY2025 | FY2024 | FY2023 |
| Period start | 2025-01-01 | 2024-01-01 | 2023-01-01 |
| Period end | 2025-12-31 | 2024-12-31 | 2023-12-31 |
| Period type | fiscal year | fiscal year | fiscal year |
| Source accession | 0001193125-26-071966 | 0001193125-26-071966 | 0001193125-26-071966 |
| Income statement | |||
| Investment advisory and administration fees | 18,474,000,000 | 15,485,000,000 | 13,724,000,000 |
| Securities lending revenue | 705,000,000 | 615,000,000 | 675,000,000 |
| Total investment advisory administration fees and securities lending revenue | 19,179,000,000 | 16,100,000,000 | 14,399,000,000 |
| Investment advisory performance fees | 1,424,000,000 | 1,207,000,000 | 554,000,000 |
| Technology services and subscription revenue | 1,981,000,000 | 1,603,000,000 | 1,485,000,000 |
| Distribution fees | 1,355,000,000 | 1,273,000,000 | 1,262,000,000 |
| Advisory and other revenue | 277,000,000 | 224,000,000 | 159,000,000 |
| Total revenue | 24,216,000,000 | 20,407,000,000 | 17,859,000,000 |
| Employee compensation and benefits | 8,446,000,000 | 6,546,000,000 | 5,779,000,000 |
| Distribution and servicing costs | 2,460,000,000 | 2,171,000,000 | 2,051,000,000 |
| Direct fund expense | 1,767,000,000 | 1,464,000,000 | 1,331,000,000 |
| Sub advisory and other | 233,000,000 | 140,000,000 | 116,000,000 |
| Total sales asset and account expense | 4,460,000,000 | 3,775,000,000 | 3,498,000,000 |
| General and administration expense | 2,731,000,000 | 2,257,000,000 | 2,092,000,000 |
| Change in fair value of contingent consideration | 720,000,000 | -36,000,000 | 3,000,000 |
| Restructuring charge | 39,000,000 | 0 | 61,000,000 |
| Amortization and impairment of intangible assets | 775,000,000 | 291,000,000 | 151,000,000 |
| Total expense | 17,171,000,000 | 12,833,000,000 | 11,584,000,000 |
| Operating income | 7,045,000,000 | 7,574,000,000 | 6,275,000,000 |
| Net gain loss on investments | 634,000,000 | 492,000,000 | 699,000,000 |
| Interest and dividend income | 554,000,000 | 767,000,000 | 473,000,000 |
| Interest expense | -614,000,000 | -538,000,000 | -292,000,000 |
| Total nonoperating income expense | 574,000,000 | 721,000,000 | 880,000,000 |
| Income before income taxes | 7,619,000,000 | 8,295,000,000 | 7,155,000,000 |
| Income tax expense | 1,677,000,000 | 1,783,000,000 | 1,479,000,000 |
| Net income | 5,942,000,000 | 6,512,000,000 | 5,676,000,000 |
| Net income attributable to noncontrolling interests cips | 262,000,000 | 143,000,000 | 174,000,000 |
| Net income attributable to noncontrolling interests subco | 127,000,000 | 0 | 0 |
| Net income attributable to blackrock | 5,553,000,000 | 6,369,000,000 | 5,502,000,000 |
| Net income attributable to common stockholders | 5,680,000,000 | 6,369,000,000 | 5,502,000,000 |
| Basic shares | 154,984,319 | 150,042,269 | 149,327,558 |
| Diluted shares | 160,866,521 | 151,615,085 | 150,706,451 |
| Basic EPS | 35.83 | 42.45 | 36.85 |
| Diluted EPS | 35.31 | 42.01 | 36.51 |
| Balance sheet | |||
| Cash and cash equivalents | 11,468,000,000 | 12,762,000,000 | |
| Accounts receivable | 5,158,000,000 | 4,304,000,000 | |
| Investments | 13,271,000,000 | 9,769,000,000 | |
| Separate account assets | 60,098,000,000 | 52,811,000,000 | |
| Separate account collateral held under securities lending agreements | 7,922,000,000 | 6,059,000,000 | |
| Property and equipment net | 1,256,000,000 | 1,103,000,000 | |
| Intangible assets net | 27,968,000,000 | 20,743,000,000 | |
| Goodwill | 35,283,000,000 | 25,949,000,000 | |
| Operating lease right of use assets | 1,874,000,000 | 1,519,000,000 | |
| Other assets | 5,700,000,000 | 3,596,000,000 | |
| Total assets | 169,998,000,000 | 138,615,000,000 | |
| Accrued compensation and benefits | 3,830,000,000 | 2,964,000,000 | |
| Accounts payable and accrued liabilities | 1,740,000,000 | 1,536,000,000 | |
| Total borrowings | 12,768,000,000 | 12,314,000,000 | |
| Separate account liabilities | 60,098,000,000 | 52,811,000,000 | |
| Separate account collateral liabilities under securities lending agreements | 7,922,000,000 | 6,059,000,000 | |
| Contingent consideration liabilities | 8,429,000,000 | 4,302,000,000 | |
| Deferred income tax liabilities | 4,618,000,000 | 3,334,000,000 | |
| Operating lease liabilities | 2,228,000,000 | 1,908,000,000 | |
| Other liabilities | 6,823,000,000 | 4,032,000,000 | |
| Total liabilities | 108,456,000,000 | 89,260,000,000 | |
| Redeemable noncontrolling interests cips | 2,636,000,000 | 1,691,000,000 | |
| Redeemable noncontrolling interests subco | 2,791,000,000 | 0 | |
| Common stock par value | 2,000,000 | 2,000,000 | |
| Additional paid in capital | 19,748,000,000 | 13,446,000,000 | |
| Retained earnings | 37,899,000,000 | 35,611,000,000 | |
| Accumulated other comprehensive loss | -545,000,000 | -1,178,000,000 | |
| Treasury stock at cost | -1,216,000,000 | -386,000,000 | |
| Total blackrock stockholders equity | 55,888,000,000 | 47,495,000,000 | |
| Nonredeemable noncontrolling interests cips | 227,000,000 | 169,000,000 | |
| Total equity | 56,115,000,000 | 47,664,000,000 | |
| Redeemable noncontrolling interests | 5,427,000,000 | 1,691,000,000 | |
| Common shares outstanding | 155,069,171 | 154,947,813 | |
| Cash flow | |||
| Depreciation and amortization | 1,126,000,000 | 529,000,000 | 427,000,000 |
| Stock based compensation | 1,307,000,000 | 753,000,000 | 630,000,000 |
| Operating cash flow | 3,927,000,000 | 4,956,000,000 | 4,165,000,000 |
| Acquisitions net of cash acquired | -3,496,000,000 | -2,936,000,000 | -189,000,000 |
| Purchases of property and equipment | -375,000,000 | -255,000,000 | -344,000,000 |
| Investing cash flow | -4,418,000,000 | -3,004,000,000 | -959,000,000 |
| Repayments of long term borrowings | -796,000,000 | -1,000,000,000 | 0 |
| Proceeds from long term borrowings | 1,080,000,000 | 5,474,000,000 | 1,238,000,000 |
| Dividends and subco distributions paid | -3,347,000,000 | -3,101,000,000 | -3,035,000,000 |
| Shares and subco units repurchased | -1,951,000,000 | -1,930,000,000 | -1,884,000,000 |
| Financing cash flow | -1,127,000,000 | 2,236,000,000 | -1,992,000,000 |
| Cash and restricted cash end of period | 11,490,000,000 | 12,779,000,000 | 8,753,000,000 |
| Free cash flow | 3,552,000,000 | 4,701,000,000 | 3,821,000,000 |
| Operating cash flow excluding cips | 7,463,000,000 | 7,267,000,000 | |
| Key metrics | |||
| Assets under management end of period | 14,041,518,000,000 | 11,551,251,000,000 | 10,008,995,000,000 |
| Average assets under management | 12,603,633,000,000 | 10,804,007,000,000 | |
| Total net inflows | 698,261,000,000 | 641,351,000,000 | |
| Long term net inflows | 567,487,000,000 | 488,621,000,000 | |
| Operating margin percent | 29.1 | 37.1 | 35.1 |
| Operating income as adjusted | 9,600,000,000 | 8,110,000,000 | 6,593,000,000 |
| Operating margin as adjusted percent | 44.1 | 44.5 | 41.7 |
| Revenue used for as adjusted operating margin | 21,756,000,000 | 18,236,000,000 | |
| Net income attributable to blackrock as adjusted | 7,736,000,000 | 6,612,000,000 | 5,692,000,000 |
| Diluted EPS as adjusted | 48.09 | 43.61 | 37.77 |
| Effective tax rate percent | 22.8 | 21.9 | |
| Book value per share | 360.41 | 306.52 | |
| Dividends declared per share | 20.84 | 20.4 | 20 |
| Shares outstanding including subco units | 162,800,000 | 154,900,000 | |
BLK quarterly income statement, balance sheet and cash flow
| Q2 FY2026 | Q2 FY2025 | |
|---|---|---|
| Fiscal year | 2026 | 2025 |
| Fiscal quarter | 2 | 2 |
| Label | Q2 FY2026 | Q2 FY2025 |
| Period start | 2026-04-01 | 2025-04-01 |
| Period end | 2026-06-30 | 2025-06-30 |
| Period type | three months | three months |
| Source accession | 0001193125-26-337177 | 0001193125-26-337177 |
| Income statement | ||
| Investment advisory and administration fees | 5,487,000,000 | 4,283,000,000 |
| Securities lending revenue | 239,000,000 | 171,000,000 |
| Total investment advisory administration fees and securities lending revenue | 5,726,000,000 | 4,454,000,000 |
| Investment advisory performance fees | 305,000,000 | 94,000,000 |
| Technology services and subscription revenue | 566,000,000 | 499,000,000 |
| Distribution fees | 395,000,000 | 320,000,000 |
| Advisory and other revenue | 92,000,000 | 56,000,000 |
| Total revenue | 7,084,000,000 | 5,423,000,000 |
| Employee compensation and benefits | 2,274,000,000 | 1,764,000,000 |
| Distribution and servicing costs | 732,000,000 | 576,000,000 |
| Direct fund expense | 543,000,000 | 441,000,000 |
| Sub advisory and other | 67,000,000 | 46,000,000 |
| Total sales asset and account expense | 1,342,000,000 | 1,063,000,000 |
| General and administration expense | 720,000,000 | 613,000,000 |
| Change in fair value of contingent consideration | 11,000,000 | 76,000,000 |
| Restructuring charge | 0 | 39,000,000 |
| Amortization and impairment of intangible assets | 276,000,000 | 137,000,000 |
| Total expense | 4,623,000,000 | 3,692,000,000 |
| Operating income | 2,461,000,000 | 1,731,000,000 |
| Net gain loss on investments | 283,000,000 | 550,000,000 |
| Interest and dividend income | 109,000,000 | 144,000,000 |
| Interest expense | -134,000,000 | -173,000,000 |
| Total nonoperating income expense | 258,000,000 | 521,000,000 |
| Income before income taxes | 2,719,000,000 | 2,252,000,000 |
| Income tax expense | 677,000,000 | 587,000,000 |
| Net income | 2,042,000,000 | 1,665,000,000 |
| Net income attributable to noncontrolling interests cips | 35,000,000 | 72,000,000 |
| Net income attributable to noncontrolling interests subco | 93,000,000 | 0 |
| Net income attributable to blackrock | 1,914,000,000 | 1,593,000,000 |
| Net income attributable to common stockholders | 2,007,000,000 | 1,593,000,000 |
| Basic shares | 155,200,000 | 154,900,000 |
| Diluted shares | 164,600,000 | 156,300,000 |
| Basic EPS | 12.34 | 10.29 |
| Diluted EPS | 12.19 | 10.19 |
| Balance sheet | ||
| Cash and cash equivalents | 10,492,000,000 | |
| Accounts receivable | 5,444,000,000 | |
| Investments | 15,144,000,000 | |
| Separate account assets | 65,267,000,000 | |
| Separate account collateral held under securities lending agreements | 6,269,000,000 | |
| Property and equipment net | 1,305,000,000 | |
| Intangible assets net | 27,415,000,000 | |
| Goodwill | 35,203,000,000 | |
| Operating lease right of use assets | 1,848,000,000 | |
| Other assets | 7,488,000,000 | |
| Total assets | 175,875,000,000 | |
| Accrued compensation and benefits | 2,432,000,000 | |
| Accounts payable and accrued liabilities | 2,012,000,000 | |
| Total borrowings | 12,744,000,000 | |
| Separate account liabilities | 65,267,000,000 | |
| Separate account collateral liabilities under securities lending agreements | 6,269,000,000 | |
| Contingent consideration liabilities | 7,875,000,000 | |
| Deferred income tax liabilities | 4,488,000,000 | |
| Operating lease liabilities | 2,224,000,000 | |
| Other liabilities | 8,024,000,000 | |
| Total liabilities | 111,335,000,000 | |
| Redeemable noncontrolling interests cips | 3,872,000,000 | |
| Redeemable noncontrolling interests subco | 2,828,000,000 | |
| Common stock par value | 2,000,000 | |
| Additional paid in capital | 19,414,000,000 | |
| Retained earnings | 40,205,000,000 | |
| Accumulated other comprehensive loss | -653,000,000 | |
| Treasury stock at cost | -1,355,000,000 | |
| Total blackrock stockholders equity | 57,613,000,000 | 49,141,000,000 |
| Nonredeemable noncontrolling interests cips | 227,000,000 | 165,000,000 |
| Total equity | 57,840,000,000 | 49,306,000,000 |
| Redeemable noncontrolling interests | 6,700,000,000 | 2,296,000,000 |
| Common shares outstanding | 154,996,807 | |
| Key metrics | ||
| Assets under management end of period | 15,344,624,000,000 | 12,527,590,000,000 |
| Average assets under management | 14,853,996,000,000 | |
| Total net inflows | 191,700,000,000 | |
| Long term net inflows | 199,134,000,000 | |
| Operating margin percent | 34.7 | 31.9 |
| Operating income as adjusted | 2,916,000,000 | 2,099,000,000 |
| Operating margin as adjusted percent | 45.9 | 43.3 |
| Revenue used for as adjusted operating margin | 6,352,000,000 | 4,847,000,000 |
| Net income attributable to blackrock as adjusted | 2,291,000,000 | 1,883,000,000 |
| Diluted EPS as adjusted | 13.91 | 12.05 |
| Effective tax rate percent | 25.2 | 26.9 |
| Book value per share | 371.7 | 317.55 |
| Dividends declared per share | 5.73 | 5.21 |
| Shares outstanding including subco units | 162,600,000 | 154,800,000 |
BLK year-to-date income statement and cash flow
| Six months ended June 30, 2026 | |
|---|---|
| Label | Six months ended June 30, 2026 |
| Period start | 2026-01-01 |
| Period end | 2026-06-30 |
| Period type | six months |
| Source accession | 0001193125-26-337177 |
| Income statement | |
| Investment advisory and administration fees | 10,746,000,000 |
| Securities lending revenue | 418,000,000 |
| Total investment advisory administration fees and securities lending revenue | 11,164,000,000 |
| Investment advisory performance fees | 577,000,000 |
| Technology services and subscription revenue | 1,096,000,000 |
| Distribution fees | 784,000,000 |
| Advisory and other revenue | 161,000,000 |
| Total revenue | 13,782,000,000 |
| Employee compensation and benefits | 4,499,000,000 |
| Distribution and servicing costs | 1,437,000,000 |
| Direct fund expense | 1,024,000,000 |
| Sub advisory and other | 138,000,000 |
| Total sales asset and account expense | 2,599,000,000 |
| General and administration expense | 1,394,000,000 |
| Change in fair value of contingent consideration | -538,000,000 |
| Restructuring charge | 0 |
| Amortization and impairment of intangible assets | 553,000,000 |
| Total expense | 8,507,000,000 |
| Operating income | 5,275,000,000 |
| Net gain loss on investments | 355,000,000 |
| Interest and dividend income | 199,000,000 |
| Interest expense | -268,000,000 |
| Total nonoperating income expense | 286,000,000 |
| Income before income taxes | 5,561,000,000 |
| Income tax expense | 1,193,000,000 |
| Net income | 4,368,000,000 |
| Net income attributable to noncontrolling interests cips | 41,000,000 |
| Net income attributable to noncontrolling interests subco | 201,000,000 |
| Net income attributable to blackrock | 4,126,000,000 |
| Net income attributable to common stockholders | 4,327,000,000 |
| Basic shares | 155,200,000 |
| Diluted shares | 164,800,000 |
| Basic EPS | 26.58 |
| Diluted EPS | 26.25 |
| Balance sheet | |
| Cash and cash equivalents | 10,492,000,000 |
| Accounts receivable | 5,444,000,000 |
| Investments | 15,144,000,000 |
| Separate account assets | 65,267,000,000 |
| Separate account collateral held under securities lending agreements | 6,269,000,000 |
| Property and equipment net | 1,305,000,000 |
| Intangible assets net | 27,415,000,000 |
| Goodwill | 35,203,000,000 |
| Operating lease right of use assets | 1,848,000,000 |
| Other assets | 7,488,000,000 |
| Total assets | 175,875,000,000 |
| Accrued compensation and benefits | 2,432,000,000 |
| Accounts payable and accrued liabilities | 2,012,000,000 |
| Total borrowings | 12,744,000,000 |
| Separate account liabilities | 65,267,000,000 |
| Separate account collateral liabilities under securities lending agreements | 6,269,000,000 |
| Contingent consideration liabilities | 7,875,000,000 |
| Deferred income tax liabilities | 4,488,000,000 |
| Operating lease liabilities | 2,224,000,000 |
| Other liabilities | 8,024,000,000 |
| Total liabilities | 111,335,000,000 |
| Redeemable noncontrolling interests cips | 3,872,000,000 |
| Redeemable noncontrolling interests subco | 2,828,000,000 |
| Common stock par value | 2,000,000 |
| Additional paid in capital | 19,414,000,000 |
| Retained earnings | 40,205,000,000 |
| Accumulated other comprehensive loss | -653,000,000 |
| Treasury stock at cost | -1,355,000,000 |
| Total blackrock stockholders equity | 57,613,000,000 |
| Nonredeemable noncontrolling interests cips | 227,000,000 |
| Total equity | 57,840,000,000 |
| Redeemable noncontrolling interests | 6,700,000,000 |
| Common shares outstanding | 154,996,807 |
| Cash flow | |
| Depreciation and amortization | 765,000,000 |
| Stock based compensation | 621,000,000 |
| Operating cash flow | 247,000,000 |
| Acquisitions net of cash acquired | -15,000,000 |
| Purchases of property and equipment | -215,000,000 |
| Investing cash flow | -740,000,000 |
| Repayments of long term borrowings | 0 |
| Proceeds from long term borrowings | 0 |
| Dividends and subco distributions paid | -1,906,000,000 |
| Shares and subco units repurchased | -1,271,000,000 |
| Financing cash flow | -421,000,000 |
| Cash and restricted cash end of period | 10,514,000,000 |
| Free cash flow | 32,000,000 |
| Operating cash flow excluding cips | 3,106,000,000 |
| Key metrics | |
| Assets under management end of period | 15,344,624,000,000 |
| Total net inflows | 321,425,000,000 |
| Long term net inflows | 335,036,000,000 |
| Operating margin percent | 38.3 |
| Operating income as adjusted | 5,585,000,000 |
| Operating margin as adjusted percent | 45.2 |
| Revenue used for as adjusted operating margin | 12,345,000,000 |
| Net income attributable to blackrock as adjusted | 4,359,000,000 |
| Diluted EPS as adjusted | 26.45 |
| Effective tax rate percent | 21.6 |
| Book value per share | 371.7 |
| Dividends declared per share | 11.46 |
| Shares outstanding including subco units | 162,600,000 |
BLK trailing twelve month income statement and cash flow
| Trailing twelve months ended June 30, 2026 | |
|---|---|
| Label | Trailing twelve months ended June 30, 2026 |
| Period start | 2025-07-01 |
| Period end | 2026-06-30 |
| Period type | trailing twelve months |
| Source accession | derived from 0001193125-26-071966 and 0001193125-26-337177 |
| Derivation | the year ended December 31, 2025 plus the six months ended June 30, 2026 less the six months ended June 30, 2025 |
| Income statement | |
| Investment advisory and administration fees | 20,693,000,000 |
| Securities lending revenue | 795,000,000 |
| Total investment advisory administration fees and securities lending revenue | 21,488,000,000 |
| Investment advisory performance fees | 1,847,000,000 |
| Technology services and subscription revenue | 2,142,000,000 |
| Distribution fees | 1,498,000,000 |
| Advisory and other revenue | 324,000,000 |
| Total revenue | 27,299,000,000 |
| Employee compensation and benefits | 9,440,000,000 |
| Distribution and servicing costs | 2,751,000,000 |
| Direct fund expense | 1,958,000,000 |
| Sub advisory and other | 278,000,000 |
| Total sales asset and account expense | 4,987,000,000 |
| General and administration expense | 2,897,000,000 |
| Change in fair value of contingent consideration | 10,000,000 |
| Restructuring charge | 0 |
| Amortization and impairment of intangible assets | 1,074,000,000 |
| Total expense | 18,408,000,000 |
| Operating income | 8,891,000,000 |
| Net gain loss on investments | 381,000,000 |
| Interest and dividend income | 436,000,000 |
| Interest expense | -543,000,000 |
| Total nonoperating income expense | 274,000,000 |
| Income before income taxes | 9,165,000,000 |
| Income tax expense | 2,035,000,000 |
| Net income | 7,130,000,000 |
| Net income attributable to noncontrolling interests cips | 226,000,000 |
| Net income attributable to noncontrolling interests subco | 328,000,000 |
| Net income attributable to blackrock | 6,576,000,000 |
| Net income attributable to common stockholders | 6,904,000,000 |
| Diluted EPS | 41.73 |
| Balance sheet | |
| Cash and cash equivalents | 10,492,000,000 |
| Accounts receivable | 5,444,000,000 |
| Investments | 15,144,000,000 |
| Separate account assets | 65,267,000,000 |
| Separate account collateral held under securities lending agreements | 6,269,000,000 |
| Property and equipment net | 1,305,000,000 |
| Intangible assets net | 27,415,000,000 |
| Goodwill | 35,203,000,000 |
| Operating lease right of use assets | 1,848,000,000 |
| Other assets | 7,488,000,000 |
| Total assets | 175,875,000,000 |
| Accrued compensation and benefits | 2,432,000,000 |
| Accounts payable and accrued liabilities | 2,012,000,000 |
| Total borrowings | 12,744,000,000 |
| Separate account liabilities | 65,267,000,000 |
| Separate account collateral liabilities under securities lending agreements | 6,269,000,000 |
| Contingent consideration liabilities | 7,875,000,000 |
| Deferred income tax liabilities | 4,488,000,000 |
| Operating lease liabilities | 2,224,000,000 |
| Other liabilities | 8,024,000,000 |
| Total liabilities | 111,335,000,000 |
| Redeemable noncontrolling interests cips | 3,872,000,000 |
| Redeemable noncontrolling interests subco | 2,828,000,000 |
| Common stock par value | 2,000,000 |
| Additional paid in capital | 19,414,000,000 |
| Retained earnings | 40,205,000,000 |
| Accumulated other comprehensive loss | -653,000,000 |
| Treasury stock at cost | -1,355,000,000 |
| Total blackrock stockholders equity | 57,613,000,000 |
| Nonredeemable noncontrolling interests cips | 227,000,000 |
| Total equity | 57,840,000,000 |
| Redeemable noncontrolling interests | 6,700,000,000 |
| Common shares outstanding | 154,996,807 |
| Cash flow | |
| Depreciation and amortization | 1,480,000,000 |
| Stock based compensation | 1,461,000,000 |
| Operating cash flow | 3,938,000,000 |
| Acquisitions net of cash acquired | -405,000,000 |
| Purchases of property and equipment | -423,000,000 |
| Investing cash flow | -1,875,000,000 |
| Repayments of long term borrowings | 0 |
| Proceeds from long term borrowings | 0 |
| Dividends and subco distributions paid | -3,607,000,000 |
| Shares and subco units repurchased | -2,169,000,000 |
| Financing cash flow | -913,000,000 |
| Free cash flow | 3,515,000,000 |
| Cash and restricted cash end of period | 10,514,000,000 |
| Key metrics | |
| Assets under management end of period | 15,344,624,000,000 |
| Total net inflows | 867,778,000,000 |
| Long term net inflows | 773,380,000,000 |
| Operating margin percent | 32.6 |
| Book value per share | 371.7 |
| Dividends declared per share | 21.88 |
Adjustments
| Value | |
|---|---|
| Splits applied | none |
| ADR ratio | n/a |
| FX | none - BlackRock reports in US dollars, so no currency translation was applied |
Prior year to date
| Six months ended June 30, 2025 | |
|---|---|
| Label | Six months ended June 30, 2025 |
| Period start | 2025-01-01 |
| Period end | 2025-06-30 |
| Period type | six months |
| Source accession | 0001193125-26-337177 |
| Income statement | |
| Investment advisory and administration fees | 8,527,000,000 |
| Securities lending revenue | 328,000,000 |
| Total investment advisory administration fees and securities lending revenue | 8,855,000,000 |
| Investment advisory performance fees | 154,000,000 |
| Technology services and subscription revenue | 935,000,000 |
| Distribution fees | 641,000,000 |
| Advisory and other revenue | 114,000,000 |
| Total revenue | 10,699,000,000 |
| Employee compensation and benefits | 3,505,000,000 |
| Distribution and servicing costs | 1,146,000,000 |
| Direct fund expense | 833,000,000 |
| Sub advisory and other | 93,000,000 |
| Total sales asset and account expense | 2,072,000,000 |
| General and administration expense | 1,228,000,000 |
| Change in fair value of contingent consideration | 172,000,000 |
| Restructuring charge | 39,000,000 |
| Amortization and impairment of intangible assets | 254,000,000 |
| Total expense | 7,270,000,000 |
| Operating income | 3,429,000,000 |
| Net gain loss on investments | 608,000,000 |
| Interest and dividend income | 317,000,000 |
| Interest expense | -339,000,000 |
| Total nonoperating income expense | 586,000,000 |
| Income before income taxes | 4,015,000,000 |
| Income tax expense | 835,000,000 |
| Net income | 3,180,000,000 |
| Net income attributable to noncontrolling interests cips | 77,000,000 |
| Net income attributable to noncontrolling interests subco | 0 |
| Net income attributable to blackrock | 3,103,000,000 |
| Net income attributable to common stockholders | 3,103,000,000 |
| Basic shares | 155,000,000 |
| Diluted shares | 156,400,000 |
| Basic EPS | 20.03 |
| Diluted EPS | 19.83 |
| Cash flow | |
| Depreciation and amortization | 411,000,000 |
| Stock based compensation | 467,000,000 |
| Operating cash flow | 236,000,000 |
| Acquisitions net of cash acquired | -3,106,000,000 |
| Purchases of property and equipment | -167,000,000 |
| Investing cash flow | -3,283,000,000 |
| Repayments of long term borrowings | -796,000,000 |
| Proceeds from long term borrowings | 1,080,000,000 |
| Dividends and subco distributions paid | -1,646,000,000 |
| Shares and subco units repurchased | -1,053,000,000 |
| Financing cash flow | -635,000,000 |
| Cash and restricted cash end of period | 9,495,000,000 |
| Free cash flow | 69,000,000 |
| Key metrics | |
| Assets under management end of period | 12,527,590,000,000 |
| Operating margin percent | 32.0 |
| Operating income as adjusted | 4,131,000,000 |
| Operating margin as adjusted percent | 43.2 |
| Revenue used for as adjusted operating margin | 9,553,000,000 |
| Net income attributable to blackrock as adjusted | 3,653,000,000 |
| Diluted EPS as adjusted | 23.35 |
| Effective tax rate percent | 21.2 |
| Book value per share | 317.55 |
| Dividends declared per share | 10.42 |
| Shares outstanding including subco units | 154,800,000 |
Notes
- BlackRock is an asset manager, so this record is built around the lines that make that business legible: fee revenue split into investment advisory, administration fees and securities lending revenue, performance fees, technology services and subscription revenue, distribution fees and advisory and other revenue; the expense lines the income statement prints; operating income and operating margin; nonoperating results; and assets under management with net flows. There is no cost of revenue, gross profit or meaningful capital expenditure programme to report, so those lines are absent by design rather than missing.
- Every figure comes from one of two filings: the FY2025 Form 10-K (accession 0001193125-26-071966), filed February 25, 2026, and the Form 10-Q for the quarter and six months ended June 30, 2026 (accession 0001193125-26-337177), filed August 6, 2026. This is the first published record for this registrant, so every period was derived from those two filings.
- Which periods these filings print, and therefore which periods this record holds: the 10-K's income statement and cash flow statement show 2025, 2024 and 2023, while its balance sheet shows only December 31, 2025 and December 31, 2024 - so FY2023 carries an income statement and a cash flow statement but no balance sheet. The 10-Q prints the three months and six months ended June 30, 2026 and June 30, 2025. The two three-month columns are the two entries in the quarterly list; the six-month columns are held separately as the year-to-date and prior-year-to-date views, because a six-month figure is not a quarter.
- The first quarter of 2026 and the fourth quarter of 2025 are not reported here. Neither filing prints a stand-alone column for them, and they belong to earlier reporting periods with their own records.
- All amounts are stated in actual US dollars. The statements themselves are printed in millions, and the assets-under-management tables in millions, so those figures have been scaled up; per-share amounts and percentages are left as printed. Share counts for the annual periods come from the 10-K's earnings-per-share note, which states them in whole shares; the quarterly share counts come from the income statement, which states them in millions.
- 'net_income' is consolidated net income including noncontrolling interests. 'net_income_attributable_to_blackrock' is the portion attributable to BlackRock, Inc. and is the numerator of basic earnings per share. 'net_income_attributable_to_common_stockholders' is the numerator of DILUTED earnings per share - net income attributable to BlackRock, Inc. plus the noncontrolling interest allocated to the exchangeable Subco Units, which the diluted share count assumes converted; the 10-K labels this line 'Diluted net income attributable to BlackRock, Inc.' For 2023 and 2024, and for the second quarter of 2025, no Subco Units existed and the two figures are the same.
- On July 1, 2025 BlackRock completed its acquisition of HPS Investment Partners, paying substantially all of the consideration in Class B-2 common units of BlackRock Saturn Subco, LLC ('Subco Units'). Those units are held by former HPS equityholders, are exchangeable one-for-one into BlackRock common stock, and are carried as redeemable noncontrolling interests in temporary equity. That is why the diluted share count jumps from about 156 million in the first half of 2025 to about 165 million in the first half of 2026, and why a separate 'net income attributable to noncontrolling interests - Subco' line appears from the third quarter of 2025 onward.
- Beginning in the fourth quarter of 2025 BlackRock changed how it presents its expense lines, showing the change in fair value of contingent consideration as its own line rather than inside general and administration expense. The 10-K states that prior periods were updated to conform, so the 2024 and 2023 columns shown here are on the new basis. Total expense and every subtotal below it are unaffected.
- Beginning in the first quarter of 2025 BlackRock updated the presentation of its assets-under-management line items and began disclosing realizations (return of capital and return on investments) separately from net flows. Prior periods were reclassified to the new line items, but 2024 realizations were not recast, so 2024 net inflows and 2025 net inflows are not measured on exactly the same basis.
- The balance sheet does not balance to liabilities plus equity alone, because BlackRock carries redeemable noncontrolling interests - those of consolidated sponsored investment products and, since July 2025, the Subco Units - in temporary equity between liabilities and permanent equity. Total assets equal total liabilities plus redeemable noncontrolling interests plus total permanent equity. 'total_equity' here is total permanent equity, which includes the nonredeemable noncontrolling interests of consolidated sponsored investment products.
- For the second quarter of 2025 only the equity balances are shown, taken from the 10-Q's statement of changes in equity; the 10-Q's balance sheet presents June 30, 2026 and December 31, 2025, so there is no June 30, 2025 balance sheet to report.
- Reported operating cash flow includes the cash flows of consolidated sponsored investment products, whose purchases and sales of investments swing it sharply - which is why operating cash flow of $247 million for the first half of 2026 sits so far below net income. Where the filings publish it, the company's own measure of operating cash flow excluding those products is carried alongside as 'operating_cash_flow_excluding_cips': $7.46 billion for 2025, $7.27 billion for 2024 and $3.11 billion for the first half of 2026. Free cash flow here is reported operating cash flow less purchases of property and equipment.
- Operating margin is operating income divided by total revenue. The figure matches what the filings print for 2025, 2024 and 2023 and for each 2026 and 2025 interim period; only the trailing-twelve-month margin is computed on that basis here, because that column is not printed.
- The 'as adjusted' figures are BlackRock's own non-GAAP measures, taken from the reconciliations and the Financial Highlights table in each filing. Operating margin, as adjusted, is measured against a reduced revenue base that excludes distribution fees and the portion of investment advisory fees passed through to third-party intermediaries; for 2025, 2024 and the 2026 and 2025 interim periods that base is carried as 'revenue_used_for_as_adjusted_operating_margin' so the margin can be reconstructed. For 2023 the 10-K prints the as-adjusted operating income, operating margin, net income attributable to BlackRock, Inc. and diluted earnings per share in its Financial Highlights table, and those amounts are carried here; what it does not publish for that year is the reconciliation detail behind them, the reduced revenue base and the as-adjusted tax rate, for which it refers readers to the annual report for the year ended December 31, 2023. The effective tax rate shown is the rate the filings print, which is measured on income before taxes less income attributable to consolidated sponsored investment products.
- The trailing-twelve-months view is derived: the year ended December 31, 2025 plus the six months ended June 30, 2026 less the six months ended June 30, 2025. Its diluted earnings per share is the sum of the reported periods' diluted earnings per share on the same basis, not a recomputed weighted-average figure, because the share count changed materially with the HPS acquisition. Its assets-under-management net inflows are not derived - they are the twelve-months-ended June 30, 2026 column the 10-Q prints. Its balance sheet is the June 30, 2026 balance sheet.
- BlackRock, Inc. under this registrant number became the group's public holding company on October 1, 2024, in connection with the acquisition of Global Infrastructure Partners; the former BlackRock, Inc. was renamed BlackRock Finance, Inc. and is now a subsidiary. The 10-K presents 2025, 2024 and 2023 as three continuous annual columns with no predecessor/successor split and no separate predecessor financial statements, so the three years shown here are directly comparable.
- FY2024 basic earnings per share of $42.45 is taken from the earnings-per-share note of the FY2025 10-K, which shows the same figure as the face of the income statement.
- The headline trend across the periods these filings print: total revenue grew from $17.86 billion in 2023 to $20.41 billion in 2024 and $24.22 billion in 2025, and reached $27.30 billion on a trailing-twelve-month basis at June 30, 2026. Assets under management rose from $10.0 trillion at the end of 2023 to $14.0 trillion at the end of 2025 and $15.3 trillion at June 30, 2026, helped by record net inflows of $698 billion in 2025 and $868 billion over the twelve months to June 30, 2026, and by the GIP, Preqin and HPS acquisitions. Reported operating margin fell from 37.1% in 2024 to 29.1% in 2025 as noncash acquisition-related costs and a charitable contribution landed in expense, then recovered to 34.7% in the second quarter of 2026; on BlackRock's own as-adjusted basis the margin was 44.5% in 2024, 44.1% in 2025 and 45.9% in the second quarter of 2026.
- The SEC's structured XBRL data for this company tags a 'Revenues' figure of $11.01 billion for 2023 and $12.79 billion for 2024, which is a component rather than the consolidated top line. The total revenue reported here - $17.86 billion for 2023 and $20.41 billion for 2024 - is the 'Total revenue' line on the face of the consolidated statements of income in the FY2025 10-K.
Uncertainties
- Net inflows and average assets under management for the second quarter of 2025 are not reported here. The 10-Q's flow tables present only the three, six and twelve months ended June 30, 2026, so there is no prior-year quarterly flow column to read, and deriving one from the twelve-month column is not possible.
- There is no December 31, 2023 balance sheet in this record, because the FY2025 10-K's balance sheet presents only 2025 and 2024. Any 2023 balance-sheet figure would have to come from an earlier filing.
- FY2023's 'as adjusted' operating income, operating margin, net income attributable to BlackRock, Inc. and diluted earnings per share are the amounts the FY2025 10-K prints in its Financial Highlights table, but the workings behind them are not in that filing: it presents the as-adjusted reconciliations, the reduced revenue base used for the as-adjusted operating margin and the as-adjusted effective tax rate for 2025 and 2024 only, and refers readers to the annual report for the year ended December 31, 2023 for the earlier detail. FY2023 also carries no effective tax rate or book value per share, which the 10-K's executive summary shows for 2025 and 2024 only.
- The trailing-twelve-months figures are arithmetic, not a column BlackRock published, and its diluted earnings per share of $41.73 is the sum of the component periods' reported diluted earnings per share. Because the diluted share count rose from about 156 million to about 165 million part-way through the window, that sum is an approximation of a twelve-month per-share result rather than a weighted-average computation.
- Free cash flow is shown as reported operating cash flow less purchases of property and equipment. For an asset manager whose reported operating cash flow absorbs the investment purchases and sales of consolidated sponsored investment products, that measure moves with fund activity rather than with the fee business; the company's own operating cash flow excluding those products is the better guide and is carried alongside where the filings publish it.
- The 2024 and 2025 assets-under-management net inflow figures are not on a fully identical basis: the 10-K states that realizations began to be disclosed separately from net flows in the first quarter of 2025 and that 2024 realizations were not recast.
Company details
| Value | |
|---|---|
| Name | BlackRock, Inc. |
| Ticker | BLK |
| CIK | 0002012383 |
| Exchange | NYSE |
| State | New York |
| Incorporation | Delaware |
| SIC | 6211 |
| Office | Finance |
| Industry | Security Brokers, Dealers & Flotation Companies |
Fiscal period
| FY2026 | |
|---|---|
| Fiscal year | 2026 |
| Fiscal period | Q2 |
| Tag | FY26Q2 |
| Period end | 2026-06-30 |
| Form | 10-Q |
| Accession | 0001193125-26-337177 |
| Fiscal year end | 1231 |
| Source | facts |
FAQ · BlackRock financial statements
How much revenue did BlackRock report in Q2 FY2026?
BlackRock reported $7.08 billion in revenue for Q2 FY2026, the quarter ended June 30, 2026, up 30.6% from $5.42 billion in the same quarter a year earlier. The increase reflects higher base fees on larger average assets under management, higher performance fees, and fees from the HPS Investment Partners business, which the year-ago quarter did not include.
How much money does BlackRock manage?
BlackRock ended Q2 FY2026 with $15.34 trillion in assets under management, up 22.5% from $12.53 trillion a year earlier. Long-term net inflows were $199.13 billion in the quarter, alongside market appreciation and assets added with the HPS Investment Partners acquisition.
What was BlackRock's earnings per share in Q2 FY2026?
BlackRock earned $12.19 per diluted share in Q2 FY2026, up 19.6% from $10.19 a year earlier, on net income attributable to BlackRock of $1.91 billion. The diluted figure reflects the units issued for the HPS Investment Partners acquisition, which the calculation treats as converted into shares, adding both those units to the share count and the earnings allocated to them back to the numerator.
What is BlackRock's operating margin?
BlackRock's operating margin was 34.7% in Q2 FY2026, up 2.8 points from 31.9% a year earlier. That is the reported margin, which carries the noncash amortization and contingent consideration costs of recent acquisitions; BlackRock also publishes an as adjusted margin that excludes them.
Where can I get BlackRock, Inc. (BLK) financial data in machine-readable form?
Ticker Scout publishes BlackRock, Inc.'s financial statements as JSON at https://tickerscout.ai/blk/financials.json, free, with no API key and no signup. The 10-K and 10-Q narrative and the 8-K events digest are published as Markdown at https://tickerscout.ai/blk/narrative.md and https://tickerscout.ai/blk/events.md. BlackRock, Inc.'s SEC CIK is 0002012383. Every figure cites the SEC accession number it came from, so it can be checked against sec.gov.
When does BlackRock, Inc. (BLK) next file with the SEC?
BlackRock, Inc. (BLK) is expected to file its next Form 10-Q with the SEC on or around November 4, 2026. That date is a projection rather than a company-announced date: it is derived from BlackRock, Inc.'s own filing history with the SEC, by taking the date the company filed the same fiscal period a year earlier and adding 52 weeks. The most recent periodic report on file is the 10-Q for Q2 FY2026, the period ended 2026-06-30, SEC accession 0001193125-26-337177.
Related companies
How this page was built
This page was built from two of BlackRock, Inc.'s own filings with the SEC, read one at a time. Nothing on it is taken from a pre-tagged dataset, a data vendor or another website. The figures are on the company's own fiscal calendar and in actual dollars, as the filings report them. Where the filings do not support a figure, the record says so instead of reporting a zero; this period names six such gaps.
A single company files thousands of pages with the SEC in a year, and no two companies file them the same way, so the reading and the assembly here are done by AI rather than by rules that break on the differences. Every pass is then audited back against the filings it came from before the page is published, and anything the filings do not support is left out and named rather than filled in. AI can still make mistakes. That is why the accession numbers are printed: the filing is the authority, and this page is a route to it.
Published by Ticker Scout, an independent publisher of company filings data. About Ticker Scout · Disclaimer
Built from BlackRock, Inc.'s SEC filings by Ticker Scout; accession numbers are cited throughout so every figure can be checked against sec.gov. Free to cite with attribution: Ticker Scout (tickerscout.ai). Not investment advice, see the Disclaimer.