BLKBlackRock, Inc.
Security Brokers, Dealers & Flotation Companies
- Revenue
- $24.2B
- 19% YoY
- Operating margin
- 29.1%
- 22% YoY
- EBITDA
- $7.3B
- 6.4% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- 0.3×
- $2.3B net debt
- AI in 10-K
- —
Red flags 2 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashFired71% of net incomeCash flow under 80% of net income
- Dilutive SBCClear5% of revenueOver 10% of revenue
- Payouts exceed cash flowFired128% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear20% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | — | $17.9B | $17.9B | $20.4B | $24.2B | 19% |
| Operating income | — | $6.4B | $6.3B | $7.6B | $7.0B | 7.0% |
| Net income | $5.9B | $5.2B | $5.5B | $6.4B | $5.6B | 13% |
| Operating cash flow | — | $5.0B | $4.2B | $5.0B | $3.9B | 21% |
| Capex | — | $533M | $344M | $255M | $375M | 47% |
| Stock-based comp | — | $708M | $630M | $753M | $1.3B | 74% |
| Buybacks | — | $2.3B | $1.9B | $1.9B | — | |
| Dividends | — | $3.0B | $3.0B | $3.1B | — |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $38M | $56M | — | — |
| FY2024 | $31M | $56M | 167 | 211 |
| FY2023 | $27M | $27M | 157 | 201 |
| FY2022 | $33M | −$6M | 121 | 145 |
| FY2021 | $33M | $65M | 129 | 148 |