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BLK
BlackRock, Inc.Financialsanswer key
| field | SEC value | XBRL concept | printed on |
|---|---|---|---|
| Total revenue | $24.2B | RevenueFromContractWithCustomerExcludingAssessedTax | Total revenue |
| Operating income | $7.0B | OperatingIncomeLoss | Operating income |
| Net income attributable to the company | $5.6B | NetIncomeLoss | Net income attributable to BlackRock, Inc. |
| Diluted EPS | $35.31 | EarningsPerShareDiluted | Diluted |
| Cash and cash equivalents | $11.5B | CashAndCashEquivalentsAtCarryingValue | Cash and cash equivalents(1) |
| Total assets | $170.0B | Assets | Total assets · Total liabilities, temporary equity and permanent equity |
| Total liabilities | $108.5B | Liabilities | Total liabilities |
| Total shareholders' equity attributable to the company | $55.9B | StockholdersEquity | Total BlackRock, Inc. stockholders’ equity |
| Net cash from operating activities | $3.9B | NetCashProvidedByUsedInOperatingActivities | Net cash provided by/(used in) operating activities |
| Net cash from investing activities | -$4.4B | NetCashProvidedByUsedInInvestingActivities | Net cash provided by/(used in) investing activities |
| Net cash from financing activities | -$1.1B | NetCashProvidedByUsedInFinancingActivities | Net cash provided by/(used in) financing activities |
Income statement
table #61 · score 38.5 vs 35.5 runner-up · in millions| (in millions, except per share data) | 2025 | 2024 | 2023 |
| Revenue | |||
| Investment advisory, administration fees and securities lending revenue: | |||
| Investment advisory and administration fees | 18,474 | 15,485 | 13,724 |
| Securities lending revenue | 705 | 615 | 675 |
| Total investment advisory, administration fees and securities lending revenue | 19,179 | 16,100 | 14,399 |
| Investment advisory performance fees | 1,424 | 1,207 | 554 |
| Technology services and subscription revenue | 1,981 | 1,603 | 1,485 |
| Distribution fees | 1,355 | 1,273 | 1,262 |
| Advisory and other revenue | 277 | 224 | 159 |
| Total revenue | 24,216 | 20,407 | 17,859 |
| Expense | |||
| Employee compensation and benefits | 8,446 | 6,546 | 5,779 |
| Sales, asset and account expense: | |||
| Distribution and servicing costs | 2,460 | 2,171 | 2,051 |
| Direct fund expense | 1,767 | 1,464 | 1,331 |
| Sub-advisory and other | 233 | 140 | 116 |
| Total sales, asset and account expense | 4,460 | 3,775 | 3,498 |
| General and administration expense | 2,731 | 2,257 | 2,092 |
| Change in fair value of contingent consideration | 720 | (36) | 3 |
| Restructuring charge | 39 | - | 61 |
| Amortization and impairment of intangible assets | 775 | 291 | 151 |
| Total expense | 17,171 | 12,833 | 11,584 |
| Operating income | 7,045 | 7,574 | 6,275 |
| Nonoperating income (expense) | |||
| Net gain (loss) on investments | 634 | 492 | 699 |
| Interest and dividend income | 554 | 767 | 473 |
| Interest expense | (614) | (538) | (292) |
| Total nonoperating income (expense) | 574 | 721 | 880 |
| Income before income taxes | 7,619 | 8,295 | 7,155 |
| Income tax expense | 1,677 | 1,783 | 1,479 |
| Net income | 5,942 | 6,512 | 5,676 |
| Less: | |||
| Net income (loss) attributable to NCI - CIPs | 262 | 143 | 174 |
| Net income (loss) attributable to NCI - Subco | 127 | - | - |
| Net income attributable to BlackRock, Inc. | 5,553 | 6,369 | 5,502 |
| Earnings per share attributable to BlackRock, Inc. common stockholders: | |||
| Basic | 35.83 | 42.45 | 36.85 |
| Diluted | 35.31 | 42.01 | 36.51 |
| Weighted-average common shares outstanding: | |||
| Basic | 155.0 | 150.0 | 149.3 |
| Diluted (including Subco Units) | 160.9 | 151.6 | 150.7 |
Balance sheet
table #60 · score 53 vs 35.5 runner-up · in millions| (in millions, except shares and per share data) | December 31,2025 | December 31,2024 |
| Assets | ||
| Cash and cash equivalents(1) | 11,468 | 12,762 |
| Accounts receivable | 5,158 | 4,304 |
| Investments(1) | 13,271 | 9,769 |
| Separate account assets | 60,098 | 52,811 |
| Separate account collateral held under securities lending agreements | 7,922 | 6,059 |
| Property and equipment (net of accumulated depreciation and amortization of $1,692 and $1,553 at December 31, 2025 and 2024, respectively) | 1,256 | 1,103 |
| Intangible assets (net of accumulated amortization of $1,482 and $782 at December 31, 2025 and 2024, respectively) | 27,968 | 20,743 |
| Goodwill | 35,283 | 25,949 |
| Operating lease right-of-use assets | 1,874 | 1,519 |
| Other assets(1) | 5,700 | 3,596 |
| Total assets | 169,998 | 138,615 |
| Liabilities | ||
| Accrued compensation and benefits | 3,830 | 2,964 |
| Accounts payable and accrued liabilities | 1,740 | 1,536 |
| Borrowings | 12,768 | 12,314 |
| Separate account liabilities | 60,098 | 52,811 |
| Separate account collateral liabilities under securities lending agreements | 7,922 | 6,059 |
| Contingent consideration liabilities | 8,429 | 4,302 |
| Deferred income tax liabilities | 4,618 | 3,334 |
| Operating lease liabilities | 2,228 | 1,908 |
| Other liabilities(1) | 6,823 | 4,032 |
| Total liabilities | 108,456 | 89,260 |
| Commitments and contingencies (Note 16) | ||
| Temporary equity | ||
| Redeemable noncontrolling interests ("NCI") - consolidated sponsored investment products ("CIPs") | 2,636 | 1,691 |
| Redeemable NCI - Subco | 2,791 | - |
| Permanent equity | ||
| BlackRock, Inc. stockholders’ equity | ||
| Common stock, $0.01 par value; | 2 | 2 |
| Shares authorized: 500,000,000 at December 31, 2025 and 2024; Shares issued: 156,276,289 and 155,318,170 at December 31, 2025 and 2024, respectively; Shares outstanding: 155,069,171 and 154,947,813 at December 31, 2025 and 2024, respectively | ||
| Additional paid-in capital | 19,748 | 13,446 |
| Retained earnings | 37,899 | 35,611 |
| Accumulated other comprehensive loss | (545) | (1,178) |
| Treasury stock, common, at cost (1,207,118 and 370,357 shares held at December 31, 2025 and 2024, respectively) | (1,216) | (386) |
| Total BlackRock, Inc. stockholders’ equity | 55,888 | 47,495 |
| Nonredeemable NCI - CIPs | 227 | 169 |
| Total permanent equity | 56,115 | 47,664 |
| Total liabilities, temporary equity and permanent equity | 169,998 | 138,615 |
Cash flow statement
table #64 · score 40 vs 18.3 runner-up · in millions| (in millions) | 2025 | 2024 | 2023 |
| Operating activities | |||
| Net income | 5,942 | 6,512 | 5,676 |
| Adjustments to reconcile net income to net cash provided by/(used in) operating activities: | |||
| Depreciation and amortization | 1,126 | 529 | 427 |
| Impairment of intangible assets | - | 50 | - |
| Noncash lease expense | 148 | 129 | 140 |
| Stock-based compensation | 1,307 | 753 | 630 |
| Deferred income tax expense (benefit) | (631) | (106) | 124 |
| Charitable Contribution | 109 | - | - |
| Change in fair value of contingent consideration | 720 | (36) | 3 |
| Other investment gains | (289) | (126) | - |
| Net (gains) losses within CIPs | (480) | (269) | (380) |
| Net (purchases) proceeds within CIPs | (4,214) | (2,672) | (1,780) |
| (Earnings) losses from equity method investees | (51) | (41) | (378) |
| Distributions of earnings from equity method investees | 429 | 57 | 49 |
| Other adjustments | |||
| Accounts receivable | (619) | (443) | (586) |
| Investments, trading | 193 | 58 | 72 |
| Other assets | (722) | 317 | (326) |
| Accrued compensation and benefits | 659 | 367 | 145 |
| Accounts payable and accrued liabilities | 75 | 259 | (26) |
| Other liabilities | 225 | (382) | 375 |
| Net cash provided by/(used in) operating activities | 3,927 | 4,956 | 4,165 |
| Investing activities | |||
| Purchases of investments | (1,384) | (818) | (846) |
| Proceeds from sales and maturities of investments | 544 | 766 | 400 |
| Distributions of capital from equity method investees | 390 | 366 | 46 |
| Net consolidations (deconsolidations) of sponsored investment funds | (97) | (127) | (26) |
| Acquisitions, net of cash acquired | (3,496) | (2,936) | (189) |
| Purchases of property and equipment | (375) | (255) | (344) |
| Net cash provided by/(used in) investing activities | (4,418) | (3,004) | (959) |
| Financing activities | |||
| Repayments of long-term borrowings | (796) | (1,000) | - |
| Proceeds from long-term borrowings | 1,080 | 5,474 | 1,238 |
| Dividends/Subco distributions paid | (3,347) | (3,101) | (3,035) |
| Proceeds from stock options exercised | 167 | 464 | 95 |
| Shares/Subco Units repurchased | (1,951) | (1,930) | (1,884) |
| Net proceeds from (repayments of) borrowings by CIPs | (112) | (58) | (59) |
| Net subscriptions received/(redemptions/distributions paid) from noncontrolling interest holders | 3,827 | 2,405 | 1,627 |
| Other financing activities | 5 | (18) | 26 |
| Net cash provided by/(used in) financing activities | (1,127) | 2,236 | (1,992) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 329 | (162) | 106 |
| Net increase/(decrease) in cash, cash equivalents and restricted cash | (1,289) | 4,026 | 1,320 |
| Cash, cash equivalents and restricted cash, beginning of year | 12,779 | 8,753 | 7,433 |
| Cash, cash equivalents and restricted cash, end of year | 11,490 | 12,779 | 8,753 |
| Supplemental disclosure of cash flow information: | |||
| Cash paid for: | |||
| Interest | 482 | 289 | 200 |
| Income taxes (net of refunds) | 2,298 | 1,699 | 1,392 |
| Supplemental schedule of noncash investing and financing transactions: | |||
| Issuance of common shares related to employee stock transactions | 151 | 215 | 569 |
| Issuance of Subco Units/common shares in connection with acquisitions | 8,694 | 5,904 | - |
| Cancellation of treasury stock, common in connection with the GIP Transaction | - | (12,829) | - |
| Increase/(decrease) in noncontrolling interests due to net consolidation (deconsolidation) of sponsored investment funds | (3,086) | (2,581) | (949) |
| Established contingent consideration liabilities in connection with acquisitions | 3,413 | 4,246 | - |