BlackRock, Inc.
Business
BlackRock, Inc. is a leading publicly traded investment manager providing asset management, technology services, and subscription offerings to institutional and retail clients globally. The company manages assets across equities, fixed income, multi-asset, alternatives, digital assets, currencies, commodities and cash management products through mutual funds, ETFs, separate accounts and pooled vehicles. BlackRock operates through retail, ETF, and institutional client segments, with geographic presence in the Americas, EMEA and Asia-Pacific, and offers proprietary technology platforms including Aladdin, eFront and Preqin.
Summary from 10-K filed 2026-02-25
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Total revenue | 24,216 | 20,407 | 17,859 | 17,873 | |
| Employee compensation and benefits | 8,446 | 6,546 | 5,779 | 5,681 | |
| Distribution and servicing costs | 2,460 | 2,171 | 2,051 | 2,179 | |
| Direct fund expense | 1,767 | 1,464 | 1,331 | 1,226 | |
| Sub-advisory and other | 233 | 140 | 116 | 103 | |
| Total sales, asset and account expense | 4,460 | 3,775 | 3,498 | 3,508 | |
| General and administration expense | 2,731 | 2,257 | 2,092 | 2,057 | |
| Change in fair value of contingent consideration | 720 | −36 | 3 | — | |
| Restructuring Charge | 39 | 0 | 61 | 91 | |
| Amortization and impairment of intangible assets | 775 | 291 | 151 | 151 | |
| Total expense | 17,171 | 12,833 | 11,584 | 11,488 | |
| Operating income | 7,045 | 7,574 | 6,275 | 6,385 | |
| Net gain (loss) on investments | 634 | 492 | 699 | −35 | |
| Interest and dividend income | 554 | 767 | 473 | 152 | |
| Interest expense | −614 | −538 | −292 | −212 | |
| Total nonoperating income (expense) | 574 | 721 | 880 | −95 | |
| Income before income taxes | 7,619 | 8,295 | 7,155 | 6,290 | |
| Income tax expense | 1,677 | 1,783 | 1,479 | 1,296 | |
| Net income | 5,942 | 6,512 | 5,676 | 4,994 | |
| Net income attributable to BlackRock, Inc. | 5,553 | 6,369 | 5,502 | 5,178 | |
| Basic (per share) | 35.83 | 42.4 | 36.85 | 34.31 | |
| Diluted | 35.31 | 42.01 | 36.51 | 33.97 | |
| Basic (shares) | 155 | 150 | 149 | 151 | |
| Diluted (including Subco Units) | 161 | 152 | 151 | 152 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 11,468 | 12,762 | 8,736 | — | — | |
| Accounts receivable | 5,158 | 4,304 | 3,916 | — | — | |
| Investments | 13,271 | 9,769 | 9,740 | — | — | |
| Separate account assets | 60,098 | 52,811 | 56,098 | — | — | |
| Separate account collateral held under securities lending agreements | 7,900 | 6,100 | 4,600 | — | — | |
| 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 | 1,112 | — | — | |
| Intangible assets (net of accumulated amortization of $1,482 and $782 at December 31, 2025 and 2024, respectively) | 27,968 | 20,743 | 18,258 | — | — | |
| Goodwill | 35,283 | 25,949 | 15,524 | 15,341 | — | |
| Operating lease right-of-use assets | 1,874 | 1,519 | 1,421 | — | — | |
| Other assets | 5,700 | 3,596 | 3,848 | — | — | |
| Total assets | 169,998 | 138,615 | 123,211 | — | — | |
| Accrued compensation and benefits | 3,830 | 2,964 | 2,393 | — | — | |
| Accounts payable and accrued liabilities | 1,740 | 1,536 | 1,240 | — | — | |
| Borrowings | 12,768 | 12,300 | 7,900 | — | — | |
| Separate account liabilities | 60,098 | 52,811 | 56,098 | — | — | |
| Separate account collateral liabilities under securities lending agreements | 7,922 | 6,059 | 4,558 | — | — | |
| Contingent consideration liabilities | 8,429 | 4,302 | 99 | — | — | |
| Deferred income tax liabilities | 4,618 | 3,334 | 3,506 | — | — | |
| Operating lease liabilities | 2,228 | 1,908 | 1,784 | — | — | |
| Other liabilities | 6,823 | 4,032 | 4,375 | — | — | |
| Total liabilities | 108,456 | 89,260 | 81,971 | — | — | |
| Commitments and contingencies (Note 16) | — | — | — | — | — | |
| Common stock, $0.01 par value; 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 | 2 | 2 | 2 | — | — | |
| Additional paid-in capital | 19,748 | 13,446 | 19,833 | — | — | |
| Retained earnings | 37,899 | 35,611 | 32,343 | — | — | |
| Accumulated other comprehensive loss | −545 | −1,178 | −840 | — | — | |
| Treasury stock, common, at cost (1,207,118 and 370,357 shares held at December 31, 2025 and 2024, respectively) | −1,216 | −386 | −11,991 | — | — | |
| Total BlackRock, Inc. stockholders equity | 55,888 | 47,495 | 39,347 | — | — | |
| Nonredeemable NCI - CIPs | 227 | 169 | 153 | — | — | |
| Total permanent equity | 56,115 | 47,664 | 39,500 | 37,876 | 37,806 | |
| Total liabilities, temporary equity and permanent equity | 169,998 | 138,615 | 123,211 | — | — |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 |
|---|---|---|---|---|---|
| Depreciation and amortization | 1,126 | 529 | 427 | 418 | |
| Impairment of intangible assets | 0 | 50 | 0 | 0 | |
| Noncash lease expense | 148 | 129 | 140 | 165 | |
| Stock-based compensation | 1,307 | 753 | 630 | 708 | |
| Deferred income tax expense (benefit) | −631 | −106 | 124 | 602 | |
| Charitable Contribution | 109 | 0 | 0 | — | |
| Change in fair value of contingent consideration | 720 | −36 | 3 | 3 | |
| Other investment gains | −289 | −126 | 0 | −268 | |
| Net (gains) losses within CIPs | −480 | −269 | −380 | 400 | |
| Net (purchases) proceeds within CIPs | −4,214 | −2,672 | −1,780 | −1,190 | |
| (Earnings) losses from equity method investees | −51 | −41 | −378 | −29 | |
| Distributions of earnings from equity method investees | 429 | 57 | 49 | 50 | |
| Accounts receivable | −619 | −443 | −586 | 416 | |
| Investments, trading | 193 | 58 | 72 | 196 | |
| Other assets | −722 | 317 | −326 | −166 | |
| Accrued compensation and benefits | 659 | 367 | 145 | −711 | |
| Accounts payable and accrued liabilities | 75 | 259 | −26 | −151 | |
| Other liabilities | 225 | −382 | 375 | −481 | |
| Net cash provided by/(used in) operating activities | 3,927 | 4,956 | 4,165 | 4,956 | |
| Purchases of investments | −1,384 | −818 | −846 | −824 | |
| Proceeds from sales and maturities of investments | 544 | 766 | 400 | 242 | |
| Distributions of capital from equity method investees | 390 | 366 | 46 | 70 | |
| Net consolidations (deconsolidations) of sponsored investment funds | −97 | −127 | −26 | −85 | |
| Acquisitions, net of cash acquired | −3,496 | −2,936 | −189 | 0 | |
| Purchases of property and equipment | −375 | −255 | −344 | −533 | |
| Net cash provided by/(used in) investing activities | −4,418 | −3,004 | −959 | −1,130 | |
| Repayments of long-term borrowings | −796 | −1,000 | 0 | −750 | |
| Proceeds from long-term borrowings | 1,080 | 5,474 | 1,238 | 0 | |
| Dividends/Subco distributions paid | −3,347 | −3,101 | −3,035 | — | |
| Proceeds from stock options exercised | 167 | 464 | 95 | 11 | |
| Shares/Subco Units repurchased | −1,951 | −1,930 | −1,884 | — | |
| Net proceeds from (repayments of) borrowings by CIPs | −112 | −58 | −59 | −26 | |
| Net subscriptions received/(redemptions/distributions paid) from noncontrolling interest holders | 3,827 | 2,405 | 1,627 | 618 | |
| Other financing activities | 5 | −18 | 26 | 27 | |
| Net cash provided by/(used in) financing activities | −1,127 | 2,236 | −1,992 | −5,442 | |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 329 | −162 | 106 | −291 | |
| Net increase/(decrease) in cash, cash equivalents and restricted cash | −1,289 | 4,026 | 1,320 | −1,907 | |
| Interest | 482 | 289 | 200 | 177 | |
| Income taxes (net of refunds) | 2,298 | 1,699 | 1,392 | 1,067 | |
| 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 | 0 | — | |
| Cancellation of treasury stock, common in connection with the GIP Transaction | 0 | −12,829 | 0 | 0 | |
| Increase/(decrease) in noncontrolling interests due to net consolidation (deconsolidation) of sponsored investment funds | −3,086 | −2,581 | −949 | −593 | |
| Established contingent consideration liabilities in connection with acquisitions | 3,413 | 4,246 | 0 | — |
Filings
Material Events
Insiders
Institutional Holders
Holdings (13F)
Portfolio as of 2026-03-31 · 50,651 positions
Top sectors
| Sector | Value | % of portfolio |
|---|---|---|
| Uncategorized | $9.29T | 100.0% |
Top holdings
| Issuer | Ticker | Shares | Value | % |
|---|---|---|---|---|
| CHIPOTLE MEXICAN GRILL INC | — | 49.67M | $1.59T | 17.1% |
| CHIPOTLE MEXICAN GRILL INC | — | 28.25M | $904.14B | 9.7% |
| CHIPOTLE MEXICAN GRILL INC | — | 11.81M | $377.89B | 4.1% |
| CHIPOTLE MEXICAN GRILL INC | — | 3.97M | $127.04B | 1.4% |
| NVIDIA CORPORATION | — | 719.99M | $125.57B | 1.4% |
| CHIPOTLE MEXICAN GRILL INC | — | 3.40M | $108.90B | 1.2% |
| APPLE INC | — | 423.91M | $107.58B | 1.2% |
| NVIDIA CORPORATION | — | 497.74M | $86.81B | 0.9% |
| MICROSOFT CORP | — | 219.11M | $81.11B | 0.9% |
| APPLE INC | — | 301.96M | $76.63B | 0.8% |
Frequently asked questions
What is BlackRock, Inc.'s CIK number?
BlackRock, Inc.'s SEC CIK number is 0002012383 (2012383). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find BlackRock, Inc.'s SEC filings?
All of BlackRock, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did BlackRock, Inc. last report earnings?
BlackRock, Inc. (BLK) most recently filed an earnings 8-K with the SEC on Jul 15, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001193125-26-304013). This is BlackRock, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.
What is BlackRock, Inc.'s most recent earnings 8-K?
BlackRock, Inc.'s latest earnings 8-K (Item 2.02) was filed Jul 15, 2026 under accession 0001193125-26-304013. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View BlackRock, Inc.'s latest earnings 8-K →
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